10-Q/A

                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                         ----------------------------

                                 FORM 10-Q/A

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

                       ----------------------------


For the Quarter ended June 30, 1998               Commission File No. 0-15450


                            SIERRAWEST BANCORP
            (Exact Name of Registrant as Specified in its Charter)


           California                                68-0091859
 (State or Other Jurisdiction            (I.R.S. Employer Identification No.)
of Incorporation or Reorganization)


10181 Truckee-Tahoe Airport Rd., P.O. Box 61000,              96160-9010
           Truckee, California
(Address of Principal Executive Offices)                      (Zip Code)

Registrant's Telephone Number, Including Area Code:         (530) 582-3000


Indicate by check mark whether the Registrant (1) has filed all reports required
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.


                          Yes  X            No ____


Indicate the number of shares  outstanding  of each of the  issuer's  classes of
common stock, as of the latest practicable date.

As of August 1, 1998:  Common Stock - Authorized 10,000,000 shares of no par;
issued and outstanding - 5,167,793











10-Q/A Filing
June 30, 1998



EXPLANATORY NOTE

This  amendment  amends  the  Quarterly  Report  on Form  10-Q  filed  with  the
Securities and Exchange Commission dated August 13, 1998 by the Registrant.

Exhibit number 27 has been amended to include  restatement of 1995,  1996,  1997
and 1998 Financial Data Schedules as a result of a pooling-of-interests.



                                      INDEX



Item 6.           Exhibits and Reports on Form 8-K.

         (a)           Exhibits.

                       27.1 Restated Financial Data Schedule for 1995
                       27.2 Restated Financial Data Schedule for 1996
                       27.3 Restated Financial Data Schedule for 1997
                       27.4 Restated Financial Data Schedule for 1998







10-Q/A Filing
June 30, 1998








                                   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 thereunto duly authorized.





Date: September 2, 1998       /s/ David C. Broadley               
      -----------------       -----------------------------------
                              David C. Broadley
                              Executive Vice President, Chief Financial Officer

EX-27.1

 


<ARTICLE>                                            9
<LEGEND>

THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
CONSOLIDATED FINANCIAL STATEMENTS OF SIERRAWEST BANK AND IS QUALIFIED IN ITS
ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS.



<MULTIPLIER>             1,000

       
                             
<PERIOD-TYPE>                   12-mos
<FISCAL-YEAR-END>                              Dec-31-1995

<PERIOD-END>                                   Dec-31-1995

<CASH>                                          28,035
<INT-BEARING-DEPOSITS>                               0
<FED-FUNDS-SOLD>                                22,415
<TRADING-ASSETS>                                     0
<INVESTMENTS-HELD-FOR-SALE>                     56,141
<INVESTMENTS-CARRYING>                           3,373
<INVESTMENTS-MARKET>                             3,380
<LOANS>                                        350,361
<ALLOWANCE>                                      5,003
<TOTAL-ASSETS>                                 497,601
<DEPOSITS>                                     435,388
<SHORT-TERM>                                         0
<LIABILITIES-OTHER>                              5,810
<LONG-TERM>                                     14,308
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                          0
<COMMON>                                        21,523
<OTHER-SE>                                      20,572
<TOTAL-LIABILITIES-AND-EQUITY>                 497,601
<INTEREST-LOAN>                                 33,952
<INTEREST-INVEST>                                3,479
<INTEREST-OTHER>                                   710
<INTEREST-TOTAL>                                38,141
<INTEREST-DEPOSIT>                              12,696
<INTEREST-EXPENSE>                              13,972
<INTEREST-INCOME-NET>                           24,169
<LOAN-LOSSES>                                    1,594
<SECURITIES-GAINS>                                 419
<EXPENSE-OTHER>                                 27,574
<INCOME-PRETAX>                                  5,148
<INCOME-PRE-EXTRAORDINARY>                       3,321
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                     3,321
<EPS-PRIMARY>                                     0.94
<EPS-DILUTED>                                     0.81
<YIELD-ACTUAL>                                    6.25
<LOANS-NON>                                      6,525
<LOANS-PAST>                                     1,101
<LOANS-TROUBLED>                                   548
<LOANS-PROBLEM>                                  1,447
<ALLOWANCE-OPEN>                                 4,654
<CHARGE-OFFS>                                    1,307
<RECOVERIES>                                        62
<ALLOWANCE-CLOSE>                                5,003
<ALLOWANCE-DOMESTIC>                             5,003
<ALLOWANCE-FOREIGN>                                  0
<ALLOWANCE-UNALLOCATED>                              0
        

 

EX-27.2

 


<ARTICLE>                                            9
<LEGEND>

THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
CONSOLIDATED FINANCIAL STATEMENTS OF SIERRAWEST BANK AND IS QUALIFIED IN ITS
ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS.



<MULTIPLIER>             1,000

       
                                                                                                         
<PERIOD-TYPE>                           3-mos                          6-mos                    9-mos                   12-mos
<FISCAL-YEAR-END>                 DEC-31-1996                    DEC-31-1996              DEC-31-1996              DEC-31-1996

<PERIOD-END>                      MAR-31-1996                    JUN-30-1996              SEP-30-1996              DEC-31-1996

<CASH>                                 25,301                         29,273                   33,177                   37,259
<INT-BEARING-DEPOSITS>                      0                              0                        0                        0
<FED-FUNDS-SOLD>                       25,400                         10,600                   16,350                   38,315
<TRADING-ASSETS>                            0                              0                        0                        0
<INVESTMENTS-HELD-FOR-SALE>            54,254                         60,900                   67,526                   85,784
<INVESTMENTS-CARRYING>                  3,259                          2,369                    2,366                    2,001
<INVESTMENTS-MARKET>                    3,254                          2,361                    2,360                    2,000
<LOANS>                               370,575                        398,234                  418,495                  436,392
<ALLOWANCE>                             5,543                          5,755                    5,693                    5,647
<TOTAL-ASSETS>                        516,447                        539,619                  576,037                  639,718
<DEPOSITS>                            452,917                        474,254                  508,459                  569,994
<SHORT-TERM>                                0                              0                        0                        0
<LIABILITIES-OTHER>                     5,889                          5,879                    7,038                    7,306
<LONG-TERM>                            14,513                         16,007                   15,800                   15,133
<PREFERRED-MANDATORY>                       0                              0                        0                        0
<PREFERRED>                                 0                              0                        0                        0
<COMMON>                               22,054                         22,480                   22,771                   23,426
<OTHER-SE>                             21,074                         20,999                   21,969                   23,859
<TOTAL-LIABILITIES-AND-EQUITY>        516,447                        539,619                  576,037                  639,718 
<INTEREST-LOAN>                         9,405                         19,325                   30,045                   41,210
<INTEREST-INVEST>                         809                          1,706                    2,688                    3,927
<INTEREST-OTHER>                          295                            524                      805                    1,234 
<INTEREST-TOTAL>                       10,509                         21,555                   33,538                   46,371 
<INTEREST-DEPOSIT>                      3,725                          7,619                   11,905                   16,692 
<INTEREST-EXPENSE>                      4,003                          8,190                   12,822                   17,960 
<INTEREST-INCOME-NET>                   6,506                         13,365                   20,716                   28,411
<LOAN-LOSSES>                             624                            867                    1,186                    1,421
<SECURITIES-GAINS>                         (5)                            (3)                       0                       75
<EXPENSE-OTHER>                         6,431                         13,913                   20,903                   28,478
<INCOME-PRETAX>                         1,501                          2,727                    4,911                    7,882
<INCOME-PRE-EXTRAORDINARY>                929                          1,703                    3,032                    4,887
<EXTRAORDINARY>                             0                              0                        0                        0
<CHANGES>                                   0                              0                        0                        0    
<NET-INCOME>                              929                          1,703                    3,032                    4,887
<EPS-PRIMARY>                            0.26                           0.48                     0.84                     1.35
<EPS-DILUTED>                            0.22                           0.41                     0.70                     1.10
<YIELD-ACTUAL>                           5.95                           5.94                     5.91                     5.83
<LOANS-NON>                             7,233                          6,279                    5,826                    5,433
<LOANS-PAST>                            1,572                          3,245                    2,152                    2,199
<LOANS-TROUBLED>                          542                            526                      600                    1,249
<LOANS-PROBLEM>                             0                              0                       69                    2,385
<ALLOWANCE-OPEN>                        5,003                          5,003                    5,003                    5,003
<CHARGE-OFFS>                             147                            330                      766                    1,089
<RECOVERIES>                               63                            215                      270                      312
<ALLOWANCE-CLOSE>                       5,543                          5,755                    5,693                    5,647
<ALLOWANCE-DOMESTIC>                    5,543                          5,755                    5,693                    5,647   
<ALLOWANCE-FOREIGN>                         0                              0                        0                        0
<ALLOWANCE-UNALLOCATED>                     0                              0                        0                        0
        

 

EX-27.3

 


<ARTICLE>                                            9
<LEGEND>

THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
CONSOLIDATED FINANCIAL STATEMENTS OF SIERRAWEST BANK AND IS QUALIFIED IN ITS
ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS.



<MULTIPLIER>             1,000

       
                                                                                                         
<PERIOD-TYPE>                           3-mos                          6-mos                    9-mos                   12-mos
<FISCAL-YEAR-END>                 DEC-31-1997                    DEC-31-1997              DEC-31-1997              DEC-31-1997

<PERIOD-END>                      MAR-31-1997                    JUN-30-1997              SEP-30-1997              DEC-31-1997

<CASH>                                 30,917                         38,527                   47,426                   57,949
<INT-BEARING-DEPOSITS>                      0                            793                      694                      396
<FED-FUNDS-SOLD>                       30,325                         77,830                   35,600                   22,275
<TRADING-ASSETS>                            0                              0                        0                        0
<INVESTMENTS-HELD-FOR-SALE>            98,117                        102,740                  109,574                  107,309      
<INVESTMENTS-CARRYING>                  1,001                          1,000                    1,000                    1,000
<INVESTMENTS-MARKET>                      996                          1,000                    1,001                    1,000
<LOANS>                               463,261                        492,866                  529,362                  553,713
<ALLOWANCE>                             5,944                          7,434                    7,854                    7,891
<TOTAL-ASSETS>                        664,414                        759,999                  767,546                  786,746
<DEPOSITS>                            593,289                        675,312                  683,453                  701,001
<SHORT-TERM>                                0                              0                        0                        0
<LIABILITIES-OTHER>                     7,246                         14,743                   11,708                   10,946
<LONG-TERM>                            10,514                          5,673                    5,453                    5,416
<PREFERRED-MANDATORY>                       0                              0                        0                        0
<PREFERRED>                                 0                              0                        0                        0
<COMMON>                               28,143                         36,101                   41,686                   42,148
<OTHER-SE>                             25,222                         28,170                   25,246                   27,235
<TOTAL-LIABILITIES-AND-EQUITY>        664,414                        759,999                  767,546                  786,746 
<INTEREST-LOAN>                        11,328                         23,615                   36,682                   50,383
<INTEREST-INVEST>                       1,350                          2,821                    4,416                    6,178
<INTEREST-OTHER>                          461                            787                    1,633                    2,004 
<INTEREST-TOTAL>                       13,139                         27,223                   42,731                   58,565 
<INTEREST-DEPOSIT>                      5,013                         10,496                   16,495                   22,497 
<INTEREST-EXPENSE>                      5,305                         10,893                   17,053                      724 
<INTEREST-INCOME-NET>                   7,834                         16,330                   25,678                   35,344
<LOAN-LOSSES>                             539                          1,569                    2,184                    2,799
<SECURITIES-GAINS>                         42                            (37)                     (38)                      50
<EXPENSE-OTHER>                         7,067                         15,501                   23,353                   31,610
<INCOME-PRETAX>                         2,448                          6,717                   10,670                   14,621
<INCOME-PRE-EXTRAORDINARY>              1,531                          4,149                    6,593                    8,948
<EXTRAORDINARY>                             0                              0                        0                        0
<CHANGES>                                   0                              0                        0                        0    
<NET-INCOME>                            1,531                          4,149                    6,593                    8,948
<EPS-PRIMARY>                            0.39                           1.00                     1.49                     1.96
<EPS-DILUTED>                            0.32                           0.83                     1.29                     1.73
<YIELD-ACTUAL>                           5.49                           5.54                     5.51                     5.52
<LOANS-NON>                             6,692                          6,761                    7,095                    7,143
<LOANS-PAST>                            1,965                          2,023                      931                    1,576
<LOANS-TROUBLED>                        1,963                          2,433                    2,072                    1,922
<LOANS-PROBLEM>                           277                             66                      123                    1,304
<ALLOWANCE-OPEN>                        5,647                          5,647                    5,647                    5,647
<CHARGE-OFFS>                             296                            810                    1,095                    1,714
<RECOVERIES>                               54                            164                      254                      295
<ALLOWANCE-CLOSE>                       5,944                          7,434                    7,854                    7,891
<ALLOWANCE-DOMESTIC>                    5,944                          7,434                    7,854                    7,891   
<ALLOWANCE-FOREIGN>                         0                              0                        0                        0
<ALLOWANCE-UNALLOCATED>                     0                              0                        0                        0
        

 

EX-27.4

 


<ARTICLE>                                            9
<LEGEND>

THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
CONSOLIDATED FINANCIAL STATEMENTS OF SIERRAWEST BANK AND IS QUALIFIED IN ITS
ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS.



<MULTIPLIER>             1,000

       
                             
<PERIOD-TYPE>                   3-mos
<FISCAL-YEAR-END>                              DEC-31-1998

<PERIOD-END>                                   MAR-31-1998

<CASH>                                          52,069
<INT-BEARING-DEPOSITS>                               0
<FED-FUNDS-SOLD>                                63,800
<TRADING-ASSETS>                                     0
<INVESTMENTS-HELD-FOR-SALE>                    104,131
<INVESTMENTS-CARRYING>                               0
<INVESTMENTS-MARKET>                                 0
<LOANS>                                        566,078
<ALLOWANCE>                                      7,888
<TOTAL-ASSETS>                                 829,399
<DEPOSITS>                                     741,441
<SHORT-TERM>                                         0
<LIABILITIES-OTHER>                             10,660
<LONG-TERM>                                      6,719
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                          0
<COMMON>                                        42,491
<OTHER-SE>                                      28,088
<TOTAL-LIABILITIES-AND-EQUITY>                 829,399
<INTEREST-LOAN>                                 13,969
<INTEREST-INVEST>                                1,593
<INTEREST-OTHER>                                   452
<INTEREST-TOTAL>                                16,014
<INTEREST-DEPOSIT>                               6,061
<INTEREST-EXPENSE>                               6,221
<INTEREST-INCOME-NET>                            9,793
<LOAN-LOSSES>                                      525
<SECURITIES-GAINS>                                   3
<EXPENSE-OTHER>                                  8,733
<INCOME-PRETAX>                                  3,405
<INCOME-PRE-EXTRAORDINARY>                       2,019
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                     2,019
<EPS-PRIMARY>                                     0.40
<EPS-DILUTED>                                     0.37
<YIELD-ACTUAL>                                    5.62
<LOANS-NON>                                      6,414
<LOANS-PAST>                                     2,540
<LOANS-TROUBLED>                                 1,855
<LOANS-PROBLEM>                                    135
<ALLOWANCE-OPEN>                                 7,891
<CHARGE-OFFS>                                      606
<RECOVERIES>                                        78
<ALLOWANCE-CLOSE>                                7,888
<ALLOWANCE-DOMESTIC>                             7,888
<ALLOWANCE-FOREIGN>                                  0
<ALLOWANCE-UNALLOCATED>                              0