SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 10-Q
[X]QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934.
For the quarterly period ended March 31, 1996
[ ]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 33-60230
Albion Banc Corp.
(Exact name of registrant as specified in its charter)
Delaware 16-1435160
(State or other jurisdiction (IRS Employer
of incorporation or organization Identification
No.)
48 North Main Street, Albion, New York 14411-0396
(Address of principal executive offices) (Zip Code)
(716) 589-5501
(Registrants telephone number, including area code)
___________________________________________________________________________
(Former name, former address and former fiscal year, if changed since last
report.)
Indicate by check mark whether the registrant (1) has filed all reports to
be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934
during the preceding 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.
X Yes No
APPLICABLE ONLY TO CORPORATE ISSUERS:
Indicate the number of shares outstanding of each of the issuer's classes
of common stock, as ot the latest practicable date.
Class Outstanding as of May 8, 1996
Common Stock, $.01 par value 258,714 shares
PART II - OTHER INFORMATION
Item 1. Legal proceedings
Periodically, there have been various claims and lawsuits
involving the Company, mainly as a defendant, such as claims
to enforce liens, condemnation proceedings on properties in
which the Company holds security interests, claims involving
the making and servicing of real property loans and other
issues incident to the Company's business. The Company is not
a party to any pending legal proceedings that it believes
would have a material adverse effect on the financial
condition or operation of the Company.
Item 2. Changes in Securities
None
Item 3. Defaults Upon Senior Securities
None
Item 4. Submission of Matters to a Vote of Security-Holders
None
Item 5. Other Information
None
Item 6. Exhibits and Reports on Form 8-K
Exhibit 27 - Financial Data Schedule
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned therunto duly authorized.
Albion Banc Corp.
(Registrant)
Dated: May 10, 1996 \s\Jeff S Rheinwald
Jeffrey S. Rheinwald
President and C.E.O.
Dated: May 10, 1996 \s\Mark F. Reed
Mark F. Reed
Vice President and C.F.O.
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<FISCAL-YEAR-END> DEC-31-1996
<PERIOD-END> MAR-31-1996
<CASH> 845
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<RECEIVABLES> 45552
<ALLOWANCES> 252
<INVENTORY> 0
<CURRENT-ASSETS> 250
<PP&E> 2964
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<TOTAL-ASSETS> 56692
<CURRENT-LIABILITIES> 46476
<BONDS> 0
0
0
<COMMON> 3
<OTHER-SE> 6069
<TOTAL-LIABILITY-AND-EQUITY> 6072
<SALES> 0
<TOTAL-REVENUES> 1080
<CGS> 0
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<INTEREST-EXPENSE> 0
<INCOME-PRETAX> 81
<INCOME-TAX> 27
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<NET-INCOME> 54
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