UNITED STATES 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 September 30, 1994

                                        OR

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

                            Commission file number 0-7931


                              FIRST COMMERCE CORPORATION
                  (Exact name of registrant as specified in its charter)


                  Louisiana                              72-0701203  
          (State or other jurisdiction of  (I.R.S. Employer Identification No.) 
           incorporation or organization)


             210 Baronne Street                             70112  
           New Orleans, Louisiana                         (Zip Code)
  (Address of principal executive offices)

     Registrant's telephone number, including area code:  (504) 561-1371


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 Registrant's classes of
common stock as of the last practicable date.


                 Class                    Outstanding as of November 9, 1994
                 -----                    ----------------------------------

       Common Stock, $5.00 par value                26,178,643 

                       ____________________________




                              Part I


Item 1.   Financial Statements.

          The information called for by this item is included in First Commerce
          Corporation's (FCC) 1994 Third Quarter Report to Stockholders on     
          pages 14 through 21 and is incorporated herein.

Item 2.   Management's Discussion and Analysis of Financial Condition and
          Results of Operations.

          The information called for by this item is included in FCC's 1994    
          Third Quarter report to Stockholders on pages 5 through 12 and is    
          incorporated herein.


                              Part II

Item 1.   Legal Proceedings.

          Legal proceedings involving FCC were previously reported in its
          Annual Report on Form 10-K for the year ended December 31, 1993 and
          on Form 10-Q for the quarter ended March 31, 1994 and for the 
          quarter ended June 30, 1994.  There have been no material
          developments since these filings.


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.

          (a)   Exhibits:


                 4.1 -  Indenture between FCC and Republic Bank Dallas, N.A.
                        (now NationsBank of Texas, N.A.), Trustee, including
                        the form of 12 3/4% Convertible Debenture due 2000,
                        Series A included as Exhibit 4.1 to FCC's Annual Report
                        on Form 10-K for the year ended December 31, 1985 and  
                        incorporated herein by reference.

                 4.2 -  Indenture between FCC and Republic Bank Dallas, N.A.
                        (now NationsBank of Texas, N.A.), Trustee, including
                        the form of 12 3/4% Convertible Debenture due 2000,
                        Series B included as Exhibit 4.2 to FCC's Annual Report
                        on Form 10-K for the year ended December 31, 1985 and  
                        incorporated herein by reference.

                11  -   Computation of Earnings Per Share

                13  -   1994 Third Quarter Report to Stockholders of First
                        Commerce Corporation

                27  -   Financial Data Schedule   

          (b)   Reports on Form 8-K.

                None.



                            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.


                                            First Commerce Corporation          






Date:  November 10, 1994                    /s/Thomas L. Callicutt, Jr.  
      -------------------                  -----------------------------
                                               Thomas L. Callicutt, Jr.        
                                               Senior Vice President,
                                               Controller and Principal
                                               Accounting Officer