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EXHIBIT 31.2

                    CERTIFICATION OF CHIEF FINANCIAL OFFICER
            PURSUANT TO SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002

I, George A. Rosenbaum, Jr., Chief Financial Officer, certify that:

1.      I have reviewed this Quarterly Report on Form 10-QSB of First Federal
Banc of the Southwest, Inc.;

2.      Based on my knowledge, this report does not contain any untrue statement
of a material fact or omit to state a material fact necessary to make the
statements made, in light of the circumstances under which such statements were
made, not misleading with respect to the period covered by this report;

3.      Based on my knowledge, the financial statements, and other financial
information included in this report, fairly present in all material respects the
financial condition, results of operations and cash flows of the small business
issuer as of, and for, the periods presented in this report;

4.      The small business issuer's other certifying officer and I are
responsible for establishing and maintaining disclosure controls and procedures
(as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) for the small
business issuer and have:

        (a)     Designed such disclosure controls and procedures, or caused such
                disclosure controls and procedures to be designed under our
                supervision, to ensure that material information relating to the
                small business issuer, including its consolidated subsidiaries,
                is made known to us by others within those entities,
                particularly during the period in which this report is being
                prepared;

        (b)     Evaluated the effectiveness of the small business issuer's
                disclosure controls and procedures and presented in this report
                our conclusions about the effectiveness of the disclosure
                controls and procedures, as of the end of the period covered by
                this report based on such evaluation; and

        (c)     Disclosed in this report any change in the small business
                issuer's internal control over financial reporting that occurred
                during the small business issuer's most recent fiscal quarter
                that has materially affected, or is reasonably likely to
                materially affect, the small business issuer's internal control
                over financial reporting; and

5.      The small business issuer's other certifying officer and I have
disclosed, based on our most recent evaluation of internal control over
financial reporting, to the small business issuer's auditors and the audit
committee of the small business issuer's board of directors (or persons
performing the equivalent functions):

        (a)     All significant deficiencies and material weaknesses in the
                design or operation of internal control over financial reporting
                which are reasonably likely to adversely affect the small
                business issuer's ability to record, process, summarize and
                report financial information; and

        (b)     Any fraud, whether or not material, that involves management or
                other employees who have a significant role in the small
                business issuer's internal control over financial reporting.

Date:   May 31, 2005                          /s/ George A. Rosenbaum, Jr.
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                                              George A. Rosenbaum, Jr.
                                              Chief Financial Officer