GREAT FALLS BANCORP
10QSB/A, 1995-09-22
STATE COMMERCIAL BANKS
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<PAGE>                  
                  U.S. Securities and Exchange Commission
                          Washington, D.C. 20549


                               Form 10-QSB/A
                              Amended Report

(Mark One)
    [ X ] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
         SECURITIES EXCHANGE ACT OF 1934

         For the quarterly period ended        June 30, 1995    

    [   ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
         SECURITIES EXCHANGE ACT OF 1934


    For the transition period from              to                

    Commission file number            0-14294                     


                             Great Falls Bancorp                  
    (Exact name of small business issuer as specified in its charter)


           NEW JERSEY                            22-2545165       
     (State or other jurisdiction of  (IRS Employer
     incorporation or organization)   Identification No.)

      55 Union Boulevard, Totowa, New Jersey      07512           
    (Address of principal executive offices)

                      (201) 942-1111                              
                    (Issuer's telephone number)


    Check whether the issuer (1) filed all reports required to be filed
    by Section 13 or 15(d) of the Exchange Act during the past 12 months
    (or for such shorter period that the registrant was required to file
    such reports), and (2) has been subject to such filing requirements
    for the past 90 days.  YES     X        NO                  



    State the number of shares outstanding of each of the issuer's classes
    of common equity, as of the latest practicable date: Common stock
    $1.00 par value - 1,069,750 shares at August 10, 1995.


    Transition Small Business Disclosure Format (check one);
    Yes               No     X   
                   
                   
<PAGE>
                   GREAT FALLS BANCORP AND SUBSIDIARIES


PART II - OTHER INFORMATION

Item 1 -  Legal Proceedings

    The Corporation is party in the ordinary course of business, to litigations
    involving collection matters, contract claims and other miscellaneous
    causes of action arising from its business.  Management does not consider
    that any such proceedings depart from usual routine litigation and in its
    judgement, neither the Corporation's consolidated financial position nor
    its results of operations will be affected materially by any present
    proceedings.
    
Item 2 -  Changes in Securities

    During June 1995, the Corporation's Board of Directors declared a 10% stock
    dividend followed by a cash dividend of 5 cents ($.05) per share, both of
    which are payable on July 31, 1995 to shareholders of record July 1, 1995.

    As a result of the declaration of the stock dividend, the number of the
    Corporation's outstanding shares as of June 30, 1995 increased to
    1,069,750.

    The financial information in this report for the second calendar quarter
    of 1995 has been adjusted to reflect the declaration of both the stock
    dividend and the cash dividend as of June 30, 1995.


Item 3 -  Default Upon Senior Securities

    None.

Item 4 -  Submission of Matters to a Vote of Security Holders
    
    None.

Item 5 -  Other information

      In May 1995, Mr. Richard Steuerwald was named a director of the
    Corporation's bank subsidiary, Great Falls Bank.  Mr. Steuerwald previously
    served as a director of Family First Federal Savings Bank, which merged
    into Great Falls Bank in April, 1995.

Item 6 -  Exhibits and Reports on Form 8-K

    (a)    Exhibits.  Ex. 27 - Financial Data Schedule

    (b)     Reports on Form 8-K.  Two reports on Form 8-K were filed during the
            quarter ended June 30, 1995, as follows:

<PAGE>
SIGNATURES


In accordance with the requirements of the Exchange Act, the registrant caused
this report to be signed on its behalf by the undersigned, thereunto duly
authorized.








                                        GREAT FALLS BANCORP
                                        (Registrant)



Date:  September 22, 1995               By: /s/ Naqi A. Naqvi
                                        Naqi A. Naqvi, Treasurer
                                        (Duly Authorized Officer and
                                        Principal Financial Officer)



WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.

<TABLE> <S> <C>

<PAGE>
<ARTICLE>  9
<MULTIPLIER>  1,000
       
<S>                             <C>
<PERIOD TYPE>                   6-MOS
<FISCAL-YEAR-END>                       DEC-31-1995
<PERIOD-START>                          JAN-01-1995
<PERIOD-END>                            JUN-30-1995
<CASH>                                         5901 
<INT-BEARING-DEPOSITS>                         1038
<FED-FUNDS-SOLD>                               1400
<TRADING-ASSETS>                                  0
<INVESTMENTS-HELD-FOR-SALE>                   34021
<INVESTMENTS-CARRYING>                        27737  
<INVESTMENTS-MARKET>                          27895
<LOANS>                                       84045  
<ALLOWANCE>                                  (2056)
<TOTAL-ASSETS>                               164250    
<DEPOSITS>                                   143267
<SHORT-TERM>                                      0
<LIABILITIES-OTHER>                            4882 
<LONG-TERM>                                    4970
<COMMON>                                       1070 
                             0
                                       0
<OTHER-SE>                                    10061  
<TOTAL-LIABILITIES-AND-EQUITY>               164250   
<INTEREST-LOAN>                                3345
<INTEREST-INVEST>                              1711 
<INTEREST-OTHER>                                111 
<INTEREST-TOTAL>                               5167 
<INTEREST-DEPOSIT>                             1688 
<INTEREST-EXPENSE>                             2003 
<INTEREST-INCOME-NET>                          3164
<LOAN-LOSSES>                                   150
<SECURITIES-GAINS>                                0
<EXPENSE-OTHER>                                2369 
<INCOME-PRETAX>                                1137 
<INCOME-PRE-EXTRAORDINARY>                        0
<EXTRAORDINARY>                                   0
<CHANGES>                                         0      
<NET-INCOME>                                    757
<EPS-PRIMARY>                                  0.77
<EPS-DILUTED>                                     0
<YIELD-ACTUAL>                                    0
<LOANS-NON>                                    3472 
<LOANS-PAST>                                    256
<LOANS-TROUBLED>                                  0
<LOANS-PROBLEM>                                   0
<ALLOWANCE-OPEN>                               1233 
<CHARGE-OFFS>                                   417
<RECOVERIES>                                     51
<ALLOWANCE-CLOSE>                              2056 
<ALLOWANCE-DOMESTIC>                              0
<ALLOWANCE-FOREIGN>                               0        
<ALLOWANCE-UNALLOCATED>                           0
        



</TABLE>


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