FMB FUNDS INC
NSAR-A, 1996-07-30
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<PAGE>      PAGE  1
000 A000000 05/31/96
000 C000000 0000879638
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 3.0.a
000 J000000 A
001 A000000 FMB FUNDS, INC.
001 B000000 811-6420
001 C000000 8004534234
002 A000000 680 EAST SWEDESFORD ROAD
002 B000000 WAYNE
002 C000000 PA
002 D010000 19087
002 D020000 1658
003  000000 N
004  000000 N
005  000000 N
006  000000 N
007 A000000 Y
007 B000000  4
007 C010100  1
007 C020100 FMB MONEY MARKET FUND
007 C030100 N
007 C010200  2
007 C020200 FMB INTERMEDIATE GOVERNMENT FUND
007 C030200 N
007 C010300  3
007 C020300 FMB MICHIGAN TAX FREE BOND FUND
007 C030300 N
007 C010400  4
007 C020400 FMB DIVERSIFIED EQUITY FUND
007 C030400 N
007 C010500  5
007 C010600  6
007 C010700  7
007 C010800  8
007 C010900  9
007 C011000 10
010 A00AA01 SEI FINANCIAL MANAGEMENT CORPORATION
010 C01AA01 WAYNE
010 C02AA01 PA
010 C03AA01 19087
010 C04AA01 1658
012 A00AA01 SEI FINANCIAL MANAGEMENT CORPORATION
012 B00AA01 84-0000
012 C01AA01 WAYNE
012 C02AA01 PA
012 C03AA01 19087
<PAGE>      PAGE  2
012 C04AA01 1658
013 A00AA01 PRICE WATERHOUSE LLP
013 B01AA01 PHILADELPHIA
013 B02AA01 PA
013 B03AA01 19103
020 A000001 NORTHERN TRUST COMPANY
020 C000001      8
020 A000002 DONALDSON, LUFKIN AND JENRETTE
020 B000002 13-2741729
020 C000002      6
020 A000003 HOENIG AND COMPANY
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<PAGE>      PAGE  3
022 A000009 KENT COMPANY
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<PAGE>      PAGE  4
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<PAGE>      PAGE  5
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<PAGE>      PAGE  7
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<PAGE>      PAGE  8
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<PAGE>      PAGE  9
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<PAGE>      PAGE  10
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<PAGE>      PAGE  12
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<PAGE>      PAGE  13
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SIGNATURE   STEVE MEYER                                  
TITLE       CONTROLLER          
 


<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000879638
<NAME> FMB FUNDS, INC.
<SERIES>
   <NUMBER> 011
   <NAME> MONEY MARKET FUND INSTITUTIONAL CLASS
<MULTIPLIER> 1,000
       
<S>                             <C>
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</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000879638
<NAME> FMB FUNDS, INC.
<SERIES>
   <NUMBER> 012
   <NAME> MONEY MARKET FUND CONSUMER SERVICE CLASS
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<S>                             <C>
<PERIOD-TYPE>                   6-MOS
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<NUMBER-OF-SHARES-REDEEMED>                    (25005)
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</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000879638
<NAME> FMB FUNDS, INC.
<SERIES>
   <NUMBER> 021
   <NAME> INTERMEDIATE GOVERNMENT FUND INSTITUTIONAL CLASS
<MULTIPLIER> 1,000
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
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<PERIOD-START>                             DEC-01-1995
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<EXPENSE-RATIO>                                    .79
<AVG-DEBT-OUTSTANDING>                               0
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</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000879638
<NAME> FMB FUNDS, INC.
<SERIES>
   <NUMBER> 022
   <NAME> INTERMEDIATE GOVERNMENT FUND CONSUMER SERVICE CLASS
<MULTIPLIER> 1,000
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          NOV-30-1996
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<EXPENSE-RATIO>                                    .87
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</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000879638
<NAME> FMB FUNDS, INC.
<SERIES>
   <NUMBER> 031
   <NAME> MICHIGAN TAX-FREE FUND INSTITUTIONAL CLASS
<MULTIPLIER> 1,000
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
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</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000879638
<NAME> FMB FUNDS, INC.
<SERIES>
   <NUMBER> 032
   <NAME> MICHIGAN TAX-FREE FUND CONSUMER SERVICE CLASS
<MULTIPLIER> 1,000
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          NOV-30-1996
<PERIOD-START>                             DEC-01-1995
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</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000879638
<NAME> FMB FUNDS, INC.
<SERIES>
   <NUMBER> 041
   <NAME> DIVERSIFIED EQUITY FUND INSTITUTIONAL CLASS
<MULTIPLIER> 1,000
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          NOV-30-1996
<PERIOD-START>                             DEC-01-1995
<PERIOD-END>                               MAY-31-1996
<INVESTMENTS-AT-COST>                            45041
<INVESTMENTS-AT-VALUE>                           63398
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</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000879638
<NAME> FMB FUNDS, INC.
<SERIES>
   <NUMBER> 042
   <NAME> DIVERSIFIED EQUITY FUND CONSUMER SERVICE CLASS
<MULTIPLIER> 1,000
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
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<PERIOD-START>                             DEC-01-1995
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</TABLE>


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