Tontine Financial Partners LP, et al. · SC 13D · Advance Financial Bancorp · On 1/24/97

Filed On 1/24/97   ·   SEC File 5-48003   ·   Accession Number 902664-97-28

General Statement of Beneficial Ownership   ·   Schedule 13D
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: SC 13D      Schdedule 13d                                          7     19K 
 2: EX-99       Joint Acquisition Statement                            1      4K 

SC 13D   ·   Schdedule 13d
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SC 13D
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    SECURITIES AND EXCHANGE COMMISSION
      Washington, D.C. 20549
      ______________________

    SCHEDULE 13D

            Under the Securities Exchange Act of 1934*

     Advance Financial Bancorp
      (Name of Issuer)

      Common Stock
        (Title of Class of Securities)

       [007437106]
      (CUSIP Number)

      Jeffrey L. Gendell
        Tontine Partners, L.P.
31 West 52nd Street, 17th Floor, New York, New York 10019 (212) 708-0675
(Name, address and telephone number of person     
     authorized to receive notices and communications)

      January 14, 1997
              (Date of event which requires filing of this statement).

  If the filing person has previously filed a statement on Schedule 13G to
report the acquisition which is the subject of this Schedule 13D, and is        
filing this schedule because of Rule 13d-1(b)(3) or (4), check the following    
box [ ].                                                                        

NOTE:  Six copies of this statement, including all exhibits, should be
filed with the Commission.  See Rule 13d-1(a) for other parties to whom copies  
are to be sent.                                                                 

*The remainder of this cover page shall be filled out for a reporting 
person's initial filing on this form with respect to the subject class of       
securities, and for any subsequent amendment containing information which       
would alter the disclosures provided in a prior cover page.                     

   The information required in the remainder of this cover page shall not be
deemed to be "filed" for purposes of Section 18 of the Securities Exchange Act  
of 1934 ("Act") or otherwise subject to the liabilities of that section of the  
Act but shall be subject to all other provisions of the Act (however, see the   
Notes).                                                                         

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13D                                                                             
CUSIP No. 007437106                                                             
____________________________________________________________________________    
(1)    NAME OF REPORTING PERSON                                       
S.S. OR I.R.S. IDENTIFICATION NO.                       
OF ABOVE PERSON                                         
                                      Jeffrey L. Gendell
_____________________________________________________________________________   
(2)    CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **            
                                                            (a)  [ ]
                                                            (b)  [X]
_____________________________________________________________________________   
(3)    SEC USE ONLY                                                   
_____________________________________________________________________________   
(4)    SOURCE OF FUNDS **                                             
00  
____________________________________________________________                    
(5)    CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS                
          REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e)                        [ ]
_____________________________________________________________________________   
(6)    CITIZENSHIP OR PLACE OF ORGANIZATION                           
United States       
_____________________________________________________________________________   
NUMBER OF     (7)  SOLE VOTING POWER                                            
                       -0-
SHARES         ______________________________________________________________   

BENEFICIALLY   (8)  SHARED VOTING POWER                                         
                         108,200
OWNED BY       ___________________________________________________________      

EACH           (9)  SOLE DISPOSITIVE POWER                                      
                       -0-
REPORTING      ______________________________________________________________   

PERSON WITH    (10) SHARED DISPOSITIVE POWER                                    
                         108,200
_____________________________________________________________________________   
(11)    AGGREGATE AMOUNT BENEFICIALLY OWNED                           
BY EACH REPORTING PERSON                              
                         108,200
_____________________________________________________________________________   
(12)    CHECK BOX IF THE AGGREGATE AMOUNT                             
          IN ROW (11) EXCLUDES CERTAIN SHARES **                       [ ]
_____________________________________________________________________________   
(13)    PERCENT OF CLASS REPRESENTED                                  
BY AMOUNT IN ROW (11)                                 
                      9.9%
_____________________________________________________________________________   
(14)    TYPE OF REPORTING PERSON **                                   
                    IN
_____________________________________________________________________________   
** SEE INSTRUCTIONS BEFORE FILLING OUT! 
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13D                                                                             
CUSIP No. 007437106                                                             
____________________________________________________________________________    
(1)    NAME OF REPORTING PERSON                                       
S.S. OR I.R.S. IDENTIFICATION NO.                       
OF ABOVE PERSON                                         
                                      Tontine Partners, L.P.
_____________________________________________________________________________   
(2)    CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **            
                                                            (a)  [ ]
                                                            (b)  [X]
_____________________________________________________________________________   
(3)    SEC USE ONLY                                                   
_____________________________________________________________________________   
(4)    SOURCE OF FUNDS **                                             
WC, 00                  
____________________________________________________________                    
(5)    CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS                
          REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e)                        [ ]
_____________________________________________________________________________   
(6)    CITIZENSHIP OR PLACE OF ORGANIZATION                           
Delaware                
_____________________________________________________________________________   
NUMBER OF      (7)  SOLE VOTING POWER                                           
                     -0-
SHARES         ______________________________________________________________   

BENEFICIALLY   (8)  SHARED VOTING POWER                                         
                       108,200
OWNED BY       ___________________________________________________________      

EACH           (9)  SOLE DISPOSITIVE POWER                                      
                     -0-
REPORTING      ______________________________________________________________   

PERSON WITH    (10) SHARED DISPOSITIVE POWER                                    
                         108,200
_____________________________________________________________________________   
(11)    AGGREGATE AMOUNT BENEFICIALLY OWNED                           
BY EACH REPORTING PERSON                              
                         108,200
_____________________________________________________________________________   
(12)    CHECK BOX IF THE AGGREGATE AMOUNT                             
          IN ROW (11) EXCLUDES CERTAIN SHARES **                       [ ]
_____________________________________________________________________________   
(13)    PERCENT OF CLASS REPRESENTED                                  
BY AMOUNT IN ROW (11)                                 
                      9.9%
_____________________________________________________________________________   
(14)    TYPE OF REPORTING PERSON **                                   
                    PN
_____________________________________________________________________________   
** SEE INSTRUCTIONS BEFORE FILLING OUT! 
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Item 1.     Security and Issuer.                                                

  This statement relates to the common stock, $0.10 par value (the "Common
Stock"), of Advance Financial Bancorp.  The Company's principal executive       
offices are located at 1015 Commerce Street, Wellsburg, WV  26070.              

Item 2.     Identity and Background.                                            

  (a)    This statement is filed by:   Jeffrey L. Gendell, with respect to
the shares of Common Stock directly owned by Tontine Partners, L.P., a Delaware 
limited partnership ("Tontine"), and  Tontine, with respect to the shares of    
Common Stock beneficially owned by it.                                          

 (b)    The business address of Mr. Gendell is 31 West 52nd Street, 17th
Floor, New York, New York 10019.  The address of the principal business and     
principal office of Tontine is 31 West 52nd Street, 17th Floor, New York, New   
York 10019.                                                                     

 (c)    Mr. Gendell serves as the Managing Member of Tontine Management,
L.L.C. which is the general partner (the "General Partner") of Tontine.  The    
principal business of Tontine is serving as a private investment limited        
partnership investing in financial institutions.                                

    (d)    Neither the person or partnership referred to in paragraph (a) has,
during the last five years, been convicted in a criminal proceeding (excluding  
traffic violations or similar misdemeanors).                                    

    (e)    Neither the person or partnership referred to in paragraph (a) has,
during the last five years, been a party to a civil proceeding of a judicial or 
administrative body of competent jurisdiction and, as a result of such          
proceeding, was, or is subject to, a judgment, decree or final order enjoining  
future violations of, or prohibiting or mandating activities subject to,        
Federal or State securities laws or finding any violation with respect to such  
laws.                                                                           

(f)    Mr. Gendell is a United States citizen.  Tontine is a limited  
partnership organized under the laws of the State of Delaware.                  

Item 3.     Source and Amount of Funds and Other Consideration.                 

  The net investment cost (including commissions, if any) of the shares of
Common Stock beneficially owned by Tontine is approximately $1,429,783.75.      

The shares of Common Stock purchased by Tontine were purchased with   
working capital and on margin.                                                  

  Tontine's margin transactions are with Bear Stearns Securities Corp., on
such firm's usual terms and conditions.  All or part of the shares of Common    
Stock beneficially owned by Tontine may from time to time be pledged with one   
or more banking institutions or brokerage firms as collateral for loans made by 
such bank(s) or brokerage firm(s) to Tontine.                                   

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Such loans bear interest at a rate based upon the broker's call rate from time  
to time in effect.  Such indebtedness may be refinanced with other banks or     
broker-dealers.                                                                 

Item 4.     Purpose of the Transaction.                                         

 The purchases of the shares of Common Stock by Tontine were made in the
ordinary course of business and were not made for the purpose of acquiring      
control of the Company.  Although the acquisition of the shares of Common Stock 
by Tontine is for investment purposes, Tontine will pursue discussions with     
management to maximize long-term value for shareholders.  Tontine may make      
further purchases of shares of Common Stock from time to time and may dispose   
of any or all of the shares of Common Stock held by it at any time.  Tontine    
does not have any plans or proposals which relate to, or could result in, any   
of the matters referred to in paragraphs (b) through (j), inclusive, of Item 4  
of Schedule 13D.  Such person and entity may, at any time and from time to      
time, review or reconsider their position and formulate plans or proposals with 
respect thereto, but have no present intention of doing so.                     

Item 5.     Interest in Securities of the Issuer.                               

A. Jeffrey L. Gendell.                                            

   (a) Aggregate number of shares beneficially owned:  108,200
                    Percentage: 9.9%  The percentages used herein and in
the rest of Item 5 are calculated based upon the 1,084,450 shares of Common     
Stock issued and outstanding as of January 2, 1997, as reflected in the Press   
Release (Bloomberg), dated January 2, 1997, in connection with the Company's    
issuances of shares.                                                            
(b) 1.  Sole power to vote or direct vote: 0          
  2.  Shared power to vote or direct vote: 108,200
        3.  Sole power to dispose or direct the disposition: 0
        4.  Shared power to dispose or direct the disposition:
108,200                               
           (c) Mr. Gendell did not enter into any transactions in the Common
Stock of the Company within the last sixty days.  The trading dates, number of  
shares of Common Stock purchased or sold and the price per share for all        
transactions in the Common Stock on behalf of Tontine, which were all in the    
open market, by Tontine, are set forth in Schedule A and are incorporated by    
reference.                                                                      
(d)  Not applicable.                                  
(e)  Not applicable.                                  

     [page 5 of 9]

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B. Tontine Partners, L.P.                                             

       (a) Aggregate number of shares beneficially owned: 108,200.
Percentage: 9.9%.             
(b) 1. Sole power to vote or direct vote: 0         
    2. Shared power to vote or direct vote:  108,200
         3. Sole power to dispose or direct the disposition: 0
                 4. Shared power to dispose or direct the disposition: 108,200
             (c) The trading dates, number of shares of Common Stock purchased
or sold and the price per share for all transactions in the Common Stock within 
the last sixty days, which were all in the open market, are set forth in        
Schedule A and are incorporated by reference.                                   
           (d) Tontine Management, L.L.C., the general partner of Tontine,
has the power to direct the affairs of Tontine, including decisions respecting  
the disposition of the proceeds from the sale of the shares.  Mr. Gendell is    
the Managing Member of Tontine Management, L.L.C. and in that capacity directs  
its operations.                                                                 
(e) Not Applicable.                                 

Item 6.     Contracts, Arrangements, Understandings or                          
Relationships with Respect to Securities of the Issuer. 

  Other than the Joint Acquisition Statement attached as Exhibit 1 hereto,
there are no contracts, arrangements, understandings or relationships (legal or 
otherwise) among the persons named in Item 2 hereof and between such persons    
and any person with respect to any securities of the Company, including but not 
limited to transfer or voting of any other securities, finder's fees, joint     
ventures, loan or option arrangements, puts or calls, guarantees of profits,    
divisions of profits or loss, or the giving or withholding of proxies.          

Item 7.     Materials to be Filed as Exhibits.                                  

  There is filed herewith as Exhibit 1 a written agreement relating to the
filing of joint acquisition statements as required by Rule 13d-1(f)(1) under    
the Securities Exchange Act of 1934, as amended.                                

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SIGNATURES        

After reasonable inquiry and to the best of our knowledge and belief, the       
undersigned certify that the information set forth in this statement is true,   
complete and correct.                                                           

DATED:  January 24, 1997             /s/ JEFFREY L. GENDELL                     
                                Jeffrey L. Gendell, individually, and as
          managing member of
                   Tontine Management, L.L.C.,
          general partner of
              Tontine Partners, L.P.

     [page 7 of 9]

<PAPGE>                                                                         
Schedule A    

TONTINE PARTNERS, L.P.

Date of                                                Price Per Share          
Transaction                   Number of Shares         (including               
                         Purchased/(Sold)         Commissions, if any)

1/2/97                            25,000                   12.88                

1/2/97                            10,000                   12.56                

1/9/97                            10,000                   12.88                

1/14/97                           10,000                   13.13                

1/14/97                           15,500                   13.06                

1/15/97                            3,000                   13.01                

1/16/97                           15,000                   13.50                

1/17/97                            5,000                   14.00                

1/20/97                            5,000                   14.00                

1/23/97                            9,700                   14.25                

     [page 8 of 9]

Dates Referenced Herein   and   Documents Incorporated By Reference

				Referenced-On Page
This SC 13D Filing		Date		First		Last			Other Filings
		1/2/97		5
		1/14/97		1
Filed On / Filed As Of		1/24/97		7					SC 13D
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