SECURITIES AND EXCHANGE COMMISSION
                   Washington, D.C. 20549
                                
                               
                          FORM 10-Q/A
                        Amendment Number 1
  
     QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d)
            OF THE SECURITIES EXCHANGE ACT OF 1934
  
        For the Quarterly Period Ended March 31, 1996
  
                               
  
                       CTL Credit, Inc.
    (Exact name of registrant as specified in its charter)
  
  
                           Delaware
                   (State or other jurisdiction
                        of incorporation)                          

                              1-470
                   (Commission File Number)   
      
                           77-0316097
                     (IRS Employer ID No.)
            
              319 E. Carrillo St., Santa Barbara, CA
              (Address of principal executive office)                         

                               93101
                            (Zip Code)
  
                        (805) 963-8743
     (Registrant's telephone number, including area code)
  
  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 last 90 days.
  
          Yes   X   No      
  
  As of April 29, 1996, there were 3,457,500 shares of the registrant's 
  common stock outstanding.

  The purpose of this amendment filing is to update Item 6 of Part II
  of the previously filed 10-Q to include the Financial Data Schedule 
  as Exhibit EX-27. The full text of Item 6, plus the new Exhibit Index
  and new exhibit EX-27, are set forth below. 
    

  PART II.  OTHER INFORMATION
  
  ITEM 6. EXHIBITS AND REPORTS ON FORM 8-K
  
  (a) EXHIBTS.  The exhibit listed in the Exhibit Index is filed herewith in
  accordance with the requirements of Item 601(c) of Regulation S-K.

  (b) REPORTS ON FORM 8-K.  On February 8, 1996, the Company filed a Current
  Report on Form 8-K. In this filing, the Company reported, under Item 5 
  ("Other Events"), the Agreement and Plan of Merger with Bay View Capital
  Corporation (see "Management's Discussion and Analysis of Financial 
  Condition and Results of Operations -- Results of Operations -- General" 
  in Part I, above). A copy of the Agreement and Plan of Merger was
  attached as an exhibit to the 8-K filing.
  
  
  
  
                                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.
  
  
                                             CTL CREDIT, INC.
  
                                             Robert O. Heavner
                                             _________________  
  Date:  May 14, 1996                        Robert O. Heavner
                                             Executive Vice President
                                             Finance and Administration
                                             (Chief Financial Officer)
                                             (Also duly Authorized to Execute
                                             on behalf of Registrant)
  

  
                            EXHIBIT INDEX


  EX-27             Financial Data Schedule