SECURITIES AND EXCHANGE COMMISSION
                              WASHINGTON, DC 20549

                                   FORM 10-QSB

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

                For the quarterly period ended December 31, 2003
                                       OR

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

               For the transition period from ________ to ________

                         Commission File Number 0-21170

                                 FFW CORPORATION
        (Exact name of small business issuer as specified in its charter)

                Delaware                                   35-1875502
(State or other jurisdiction of incorporation    (I.R.S. Employer identification
             or organization)                               or Number)

                    1205 North Cass Street, Wabash, IN 46992
                    (Address of principal executive offices)

                                 (260) 563-3185
                           (Issuer's telephone number)

Check  whether the issuer (1) filed all reports  required to be filed by Section
13 or 15 (d) of the  Securities  Exchange  Act of 1934 during the past 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 ___

State the number of Shares outstanding of each of the issuer's classes of common
equity, as of the latest practicable date:


As of February 12, 2004, there were 1,300,229 shares of the Registrant's  common
stock issued and outstanding.

           Transitional Small Business Disclosure Format (check one):

                                 Yes ___ No _X_
<PAGE>

                                 FFW CORPORATION

                                      INDEX


PART I.     FINANCIAL INFORMATION                                       PAGE NO.

Item 1.       Financial Statements

                  Consolidated Balance Sheets for December 31, 2003          3
                  and June 30, 2003

                  Consolidated Statements of Income and                      4
                  Comprehensive Income for the three and six
                  months ended December 31, 2003 and 2002.

                  Consolidated Statements of Cash Flows for the              5
                  six months ended December 31, 2003 and 2002.

                  Notes to Consolidated Financial Statements                 6


Item 2.       Management's Discussion and Analysis of Financial              8
               Condition and Plan of Operation

Item 3.       Controls and Procedures                                       15

PART II.    OTHER INFORMATION


               Items 1-6                                                    16

               Signature Page                                               17

               Exhibit Index                                                18
<PAGE>
<TABLE>
<CAPTION>
                                                 PART I: FINANCIAL INFORMATION
                                                        FFW CORPORATION
                                                  CONSOLIDATED BALANCE SHEETS


                                                                                             (Unaudited)
ASSETS :                                                                                     December 31        June 30
                                                                                                 2003             2003
                                                                                            -------------    -------------
<S>                                                                                         <C>              <C>
         Cash and due from financial institutions .......................................   $   5,775,477    $   8,235,956
         Interest-earning deposits in other financial institutions - short term .........       3,465,751        1,588,877
                                                                                            -------------    -------------
                  Cash and cash equivalents .............................................       9,241,228        9,824,833
         Securities available for sale ..................................................      85,473,127       89,636,775
         Loans receivable, net of allowance for loan losses of $2,646,619 at December 31,
                  2003 and $2,592,092 at June 30, 2003 ..................................     132,472,529      126,018,943
         Loans held for sale ............................................................         172,200        2,707,850
         Federal Home Loan Bank stock, at cost ..........................................       3,532,500        3,445,900
         Accrued interest receivable ....................................................       1,334,120        1,388,322
         Premises and equipment, net ....................................................       2,924,211        2,677,102
         Mortgage servicing rights ......................................................         622,580          614,638
         Cash surrender value of life insurance .........................................       4,852,011        4,718,031
         Other assets ...................................................................       2,515,122        1,738,687
                                                                                            -------------    -------------
                           Total Assets..................................................   $ 242,967,428    $ 242,771,081
                                                                                            =============    =============


LIABILITIES AND SHAREHOLDERS' EQUITY:

Liabilities:
         Noninterest-bearing demand deposits ............................................   $  11,070,195    $  11,238,092
         Savings, NOW and MMDA deposits .................................................      69,239,412       70,450,282
         Other time deposits ............................................................      77,941,050       81,758,120
                                                                                            -------------    -------------
                  Total Deposits.........................................................     158,250,657      163,446,494
         Federal Home Loan Bank advances ................................................      59,907,919       52,038,331
         Accrued interest payable .......................................................         128,402          120,640
         Accrued expenses and other liabilities..........................................       1,434,797        3,525,548
                                                                                            -------------    -------------
                  Total Liabilities .....................................................     219,721,775      219,131,013

Shareholders' Equity:

         Preferred stock, $.01 par; 500,000 shares authorized, none issued ..............              --               --
         Common stock, $.01 par; 2,000,000 shares authorized; issued: 1,829,828;
              outstanding: 1,300,229 - December 31, 2003; 1,311,800 - June 30, 2003 .....          18,298           18,298
         Additional paid-in capital .....................................................       9,385,518        9,345,123
         Retained earnings ..............................................................      20,087,156       19,266,267
         Accumulated other comprehensive income (loss) ..................................        (177,917)         720,765
         Unearned management retention plan shares ......................................        (101,892)         (48,172)
         Treasury stock at cost, shares: 529,599 - December 31, 2003 and
                  518,028 - June 30, 2003 ...............................................      (5,965,510)      (5,662,213)
                                                                                            -------------    -------------
                         Total Shareholders' Equity .....................................      23,245,653       23,640,068
                                                                                            -------------    -------------
                           Total Liabilities and Shareholders' Equity ...................   $ 242,967,428    $ 242,771,081
                                                                                            =============    =============


                                                        See accompanying notes.

</TABLE>
<PAGE>
<TABLE>
<CAPTION>


                                                     PART I: FINANCIAL INFORMATION
                                                            FFW CORPORATION
                                      CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME
                                                              (Unaudited)


                                                                   Three Months Ended            Six Months Ended
                                                                       December 31                 December 31
                                                                   2003         2002           2003           2002
                                                               -----------   -----------    -----------    -----------
<S>                                                            <C>           <C>            <C>            <C>
Interest and dividend income :
         Loans, including fees .............................   $ 2,179,033   $ 2,644,205    $ 4,450,127    $ 5,379,266
         Taxable securities ................................       669,569       682,775      1,298,778      1,431,140
         Nontaxable securities .............................       243,749       244,680        496,465        473,866
         Other interest-earning assets .....................        12,090        16,001         18,321         39,870
                                                               -----------   -----------    -----------    -----------
                  Total interest income ....................     3,104,441     3,587,661      6,263,691      7,324,142

Interest expense :
         Deposits ..........................................       905,925     1,218,926      1,841,674      2,533,594
         Other .............................................       639,895       676,131      1,275,494      1,383,763
                                                               -----------   -----------    -----------    -----------
                  Total interest expense ...................     1,545,820     1,895,057      3,117,168      3,917,357
                                                               -----------   -----------    -----------    -----------

Net interest income ........................................     1,558,621     1,692,604      3,146,523      3,406,785

         Provision for loan losses .........................       210,000       405,000        420,000        630,000
                                                               -----------   -----------    -----------    -----------

Net interest income after provision for loan losses ........     1,348,621     1,287,604      2,726,523      2,776,785

Non-interest income :
         Net gain on sale of securities ....................            --          (641)         3,712            581
         Net gain on sale of loans .........................        85,204       357,692        355,867        537,875
         Commission income .................................        56,026        48,179         91,787         87,485
         Service charges and fees ..........................       331,396       157,237        488,886        391,249
         Earnings on life insurance ........................        73,101        73,161        146,202         89,419
         Other .............................................        67,908        10,922         84,281         24,192
                                                               -----------   -----------    -----------    -----------
                  Total non-interest income ................       613,635       646,550      1,170,735      1,130,801

Non-interest expense :
         Compensation and benefits .........................       582,545       580,504      1,161,898      1,160,409
         Occupancy and equipment ...........................       105,833       101,500        209,784        201,772
         Deposit insurance premium .........................        18,405        18,474         37,331         36,502
         Regulatory assessment .............................        16,131        24,288         31,562         47,826
         Correspondent bank charges ........................        66,160        64,890        127,127        120,457
         Data processing expense ...........................       129,303       121,863        257,814        241,224
         Printing, postage and supplies ....................        38,018        41,772         76,897         80,125
         Amortization of core deposit premium ..............            --        21,286             --         39,572
         Other .............................................       323,398       192,377        616,726        436,576
                                                               -----------   -----------    -----------    -----------
                  Total non-interest expense ...............     1,279,793     1,166,954      2,519,139      2,364,463
                                                               -----------   -----------    -----------    -----------

Income before income taxes .................................       682,463       767,200      1,378,119      1,543,123

         Income tax expense ................................        48,378       150,550        142,437        350,733
                                                               -----------   -----------    -----------    -----------
Net income .................................................   $   634,085   $   616,650    $ 1,235,682    $ 1,192,390
                                                               ===========   ===========    ===========    ===========

         Change in unrealized appreciation (depreciation) on
         securities available for sale, net of tax .........        16,761       451,864       (898,682)       592,978
                                                               -----------   -----------    -----------    -----------
Comprehensive income .......................................   $   650,846   $ 1,068,514    $   337,000    $ 1,785,368
                                                               ===========   ===========    ===========    ===========

Earnings per common share :
         Basic                                                 $       .49   $       .46    $       .95    $       .88
         Diluted                                               $       .48   $       .45    $       .94    $       .87




                                                        See accompanying notes.
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
                                           PART I: FINANCIAL INFORMATION
                                                  FFW CORPORATION
                                       CONSOLIDATED STATEMENTS OF CASH FLOWS
                                                     (Unaudited)


                                                                                         Six Months Ended
                                                                                            December 31
                                                                                       2003            2002
                                                                                  ------------    ------------
<S>                                                                               <C>             <C>
Cash flows from operating activities :
         Net income ...........................................................   $  1,235,682    $  1,192,390
         Adjustments to reconcile net income to net cash
              from operating activities :
             Depreciation and amortization ....................................        483,545         395,248
             Provision for loan losses ........................................        420,000         630,000
             Net (gains) losses on sale of :
                  Securities ..................................................         (3,712)           (581)
                  Loans held for sale .........................................       (355,867)       (537,875)
                  REOs and repossessed assets .................................        (51,978)          8,481
             Originations of loans held for sale ..............................    (17,863,884)    (26,939,734)
             Proceeds from sale of loans held for sale ........................     18,062,549      27,208,214
             Increase in cash surrender value of life insurance ...............       (133,980)        (84,051)
             Amortization of MRP contribution .................................         15,880          17,586
             Net change in accrued interest receivable and other
                      assets ..................................................        177,612          72,364
             Amortization of core deposit intangibles .........................             --          36,573
             Net change in accrued interest payable
                  and other liabilities .......................................     (2,082,989)        630,532
                                                                                  ------------    ------------
                  Net cash from operating activities ..........................        (97,142)      2,629,147

Cash flows from investing activities :
             Proceeds from :
                  Sales and calls of securities available for sale ............      6,540,191       5,302,317
                  Maturities of securities available for sale .................        955,000         150,000
                  Sales of REOs and repossessed assets ........................        321,128         214,635
             Purchase of:
                  Securities available for sale ...............................    (10,189,760)    (18,378,436)
                  FHLB stock ..................................................        (86,600)             --
                  Life insurance ..............................................             --      (4,500,000)
             Principal collected on mortgage- backed securities ...............      5,462,020      10,167,506
             Net change in loans receivable ...................................     (5,072,236)      9,884,857
             Purchases of premises and equipment, net .........................       (342,662)        (77,169)
                                                                                  ------------    ------------
                  Net cash from investing activities ..........................     (2,412,919)      2,763,710

Cash flows from financing activities :
            Net change in deposits ............................................     (5,195,837)      2,705,066
            Proceeds from borrowings ..........................................     22,500,000       3,000,000
            Repayment on borrowings ...........................................    (14,630,412)    (11,621,597)
            Purchase of treasury stock ........................................       (393,377)       (331,280)
            Proceeds from stock options .......................................         60,875              --
            Cash dividends paid ...............................................       (414,793)       (406,508)
                                                                                  ------------    ------------
                  Net cash from financing activities ..........................      1,926,456      (6,654,319)

Net change in cash and cash equivalents .......................................       (583,605)     (1,261,462)
Beginning cash and cash equivalents ...........................................      9,824,833       9,318,513
                                                                                  ------------    ------------
Ending cash and cash equivalents ..............................................   $  9,241,228    $  8,057,051
                                                                                  ============    ============

Supplemental disclosure of cash flow information
Transfer of loans to REO and repossessed assets ...............................   $    906,500    $    308,175


                                                        See accompanying notes
</TABLE>
<PAGE>

                          PART I: FINANCIAL INFORMATION
                                 FFW CORPORATION
                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
                                   (UNAUDITED)

(1)  Basis of Presentation

     The  accompanying  unaudited  Consolidated  Financial  Statements have been
prepared in accordance  with  accounting  principles  generally  accepted in the
United  States  of  America  for  interim  financial  information  and  with the
instructions to Form 10-QSB and Regulation S-B. Accordingly, they do not include
all the information and footnotes  required by accounting  principles  generally
accepted in the United States of America for complete financial statements.

     In the opinion of management, the Consolidated Financial Statements contain
all adjustments  (consisting only of normal recurring  adjustments) necessary to
represent  fairly the financial  condition of FFW Corporation as of December 31,
2003 and June 30, 2003 and the results of its operations,  for the three and six
months ended December 31, 2003 and 2002.  Financial Statement  reclassifications
have been made for the prior period to conform to classifications used as of and
for the period ended December 31, 2003.

     Operating  results for the three and six months ended December 31, 2003 are
not  necessarily  indicative  of the results that may be expected for the fiscal
year ending June 30, 2004.


(2)  Earnings Per Share:

     Basic earnings per share are calculated solely on  weighted-average  common
shares outstanding. Diluted earnings per share reflect the potential dilution of
stock  options and other common stock  equivalents.  For the three and six month
periods  ending  December 31, 2003, the weighted  average shares  outstanding in
calculating  basic  earnings per share were  1,290,059 and  1,295,088  while the
weighted  average number of shares for diluted earnings per share were 1,316,803
and 1,319,572. For the three and six month periods ending December 31, 2002, the
weighted average shares outstanding in calculating basic earnings per share were
1,344,415 and 1,351,502 while the weighted  average number of shares for diluted
earnings per share were 1,360,237 and 1,367,317.


(3)  Stock Based Compensation:

     Compensation  expense under stock  options is reported  using the intrinsic
value method.  No stock-based  compensation  cost is reflected in net income, as
all options  granted had an exercise  price equal to or greater  than the market
price of the  underlying  common  stock at date of grant.  The  following  table
illustrates  the  effect on net  income and  earnings  per share if expense  was
measured using the fair value recognition  provisions of FASB Statement No. 123,
Accounting for Stock-Based Compensation.

<TABLE>
<CAPTION>
                                                Three Months Ending         Six Months Ending
                                                   December 31,                December 31,
                                                 2003       2002           2003           2002
                                               --------   --------      ----------     ----------

<S>                                            <C>        <C>           <C>            <C>
Net income as reported                         $634,085   $616,650      $1,235,682     $1,192,390

Less:  Stock-based compensation
 expense determined under fair value
 based method                                     5,314      7,370          10,628         14,741
                                               --------   --------      ----------     ----------
Pro forma net income                           $628,771   $609,280      $1,225,054     $1,177,649
                                               ========   ========      ==========     ==========

Basic earnings per share as reported           $    .49   $    .46      $      .95     $      .88
Pro forma basic earnings per share                  .49        .45             .95            .87

Diluted earnings per share as reported              .48        .45             .94            .87
Pro forma diluted earnings per share                .48        .45             .93            .86

</TABLE>


     There were no stock options  granted  during the six months ended  December
31, 2003 or 2002.

     In future years, as additional options are granted,  the proforma effect on
net income and earnings per share may increase. Stock options are used to reward
directors  and certain  executive  officers and provide them with an  additional
equity  interest.  Options  are issued  for ten year  periods  and have  varying
vesting schedules.
<PAGE>

(4)  Recently Adopted Accounting Standards:

     On July  1,  2003,  the  Company  adopted  Interpretation  45,  Guarantor's
Accounting  and Disclosure  Requirements  for  Guarantees.  On July 1, 2003, the
Company  adopted  Statement  149,  amendment  of  Statement  133  on  Derivative
Instruments and Hedging  Activities,  and Statement 150,  Accounting for Certain
Financial  Instruments with Characteristics of both Liabilities and Equities. On
October 1,  2003,  the  Company  adopted  Interpretation  46,  Consolidation  of
Variable  Interest  Entities.  Adoption of the new standards did not  materially
affect the Company's operating results or financial condition.
<PAGE>

                                 PART I: ITEM 2
                                 FFW CORPORATION

                MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL
                       CONDITION AND RESULTS OF OPERATIONS

GENERAL

The accompanying  Consolidated  Financial Statements include the accounts of FFW
Corporation  (the  "Company") and its wholly owned  subsidiaries,  First Federal
Savings  Bank of Wabash (the  "Bank") and  FirstFed  Financial,  Inc  ("FirstFed
Financial").   All  significant  inter-company  transactions  and  balances  are
eliminated in  consolidation.  The Company's results of operations are primarily
dependent on the Bank's net interest  margin,  which is the  difference  between
interest   income  on   interest-earning   assets   and   interest   expense  on
interest-bearing  liabilities.  The Bank's net  income is also  affected  by the
level of its  non-interest  income and non-interest  expenses,  such as employee
compensation and benefits, occupancy expenses, and other expenses.


FORWARD-LOOKING STATEMENTS

Except for historical  information  contained  herein,  the matters discussed in
this document, and other information contained in the Company's SEC filings, may
express  "forward-looking  statements." Those  "forward-looking  statements" may
involve risk and uncertainties,  including statements  concerning future events,
performance and assumptions and other  statements that are other than statements
of historical  facts.  The Company wishes to caution  readers not to place undue
reliance  on any  forward-looking  statements,  which  speak only as of the date
made. Readers are advised that various  factors--including,  but not limited to,
changes in laws,  regulations or accounting principles generally accepted in the
United States of America; the Company's  competitive position within the markets
served; increasing consolidation within the banking industry; unforeseen changes
in interest rates; any unforeseen  downturns in the local,  regional or national
economies--could  cause the Company's actual results or circumstances for future
periods to differ materially from those anticipated or projected.

The Company does not undertake - and  specifically  declines any obligation - to
publicly  release  the  result  of  any  revisions  which  may  be  made  to any
forward-looking  statements to reflect events or circumstances after the date of
such  statements or to reflect the occurrence of  anticipated  or  unanticipated
events.


CRITICAL ACCOUNTING POLICIES

Certain of the Company's  accounting  policies are important to the portrayal of
the  Company's  financial  condition,  since  they  require  management  to make
difficult,  complex or subjective judgments, some of which may relate to matters
that are  inherently  uncertain.  Estimates  associated  with these policies are
susceptible   to  material   changes  as  a  result  of  changes  in  facts  and
circumstances.  Facts  and  circumstances  that  could  effect  these  judgments
include,  but without limitation,  changes in interest rates, in the performance
of the economy or in the financial  condition of borrowers.  Management believes
that its critical accounting policies include determining the allowance for loan
losses, ("ALL"), and the valuation of mortgage servicing rights.

Allowance  for  Loan  Losses:  The ALL is a  valuation  allowance  for  probable
incurred credit losses, increased by the provision for loan losses and decreased
by charge-offs  less recoveries.  Management  estimates the ALL balance required
using  past  loan loss  experience,  the  nature  and  volume of the  portfolio,
information about specific borrower situations and estimated  collateral values,
economic conditions,  and other factors.  Allocations of the ALL may be made for
specific  loans,  but  the  entire  ALL is  available  for  any  loan  that,  in
management's  judgment,  should be charged-off.  Loan losses are charged against
the ALL when  management  believes  the  uncollectibility  of a loan  balance is
confirmed.

A loan is  impaired  when full  payment  under the loan  terms is not  expected.
Impairment is evaluated in total for small-balance  loans of similar nature such
as residential  mortgage and consumer loans, and on an individual loan basis for
other loans.  If a loan is  impaired,  a portion of the ALL is allocated so that
the loan is reported,  net, at the present value of estimated  future cash flows
using the loan's  existing  rate or at the fair value of collateral if repayment
is expected solely from the collateral.

Mortgage  Servicing  Rights:  Servicing  rights represent the allocated value of
servicing  rights  retained  on loans  sold.  Servicing  rights are  expensed in
proportion  to,  and over the  period  of,  estimated  net  servicing  revenues.
Impairment is evaluated  based on the fair value of the rights,  using groupings
of the underlying loans as to interest rates and prepayment characteristics. Any
impairment  of a grouping is reported as a valuation  allowance.  As of December
31, 2003, mortgage servicing rights had a carrying value of $623,000.


FINANCIAL CONDITION

Total assets were $243.0  million at December 31, 2003,  up slightly from $242.8
million at June 30, 2003.  Growth in net loans  receivable  was offset by a $4.2
million, or 4.6%,  reduction in securities  available for sale and a decrease in
deposits was offset by an increase in FHLB advances.

Net loans  receivable  increased $6.3 million,  or 5.0%,  from $126.0 million at
June 30, 2003 to $132.3  million at December 31, 2003. The increases in the loan
portfolio  were comprised  primarily of $6.8 million in  residential  mortgages,
$1.4 million in home equity and improvement loans and $0.7 million in automobile
and other consumer loans while  nonresidential  and commercial  loans  decreased
$2.6 million. The increase in residential mortgages reflects renewed interest in
adjustable rate loans, primarily five year hybrids, which the Company retains on
its balance sheet.  The Company  primarily sells its fixed rate mortgages in the
secondary market with terms of 15 years or longer.

Total deposits  decreased  $5.2 million,  or 3.2%, to $158.3 million at December
31, 2003.  Management will continue to control the overall increases in interest
rates in deposits by targeting certain terms and offering "specials" rather than
making  across the board  increases in interest  rates on all deposit  products.
FHLB advances increased $7.9 million, or 15.1%, to $59.9 million at December 31,
2003. The additional advances all had maturities of six months or less.

Total  shareholders'  equity decreased $394,000 to $23.2 million at December 31,
2003. The decrease  primarily  resulted from an $899,000  decrease in unrealized
appreciation  on securities  available for sale,  net of tax, cash  dividends of
$415,000 and  treasury  stock  purchases  of $393,000,  as those items more that
offset net income for the six months.


COMPARISON OF THE THREE AND SIX-MONTH PERIODS ENDED DECEMBER 31, 2003 AND 2002

Net income for the three and  six-month  periods  ended  December  31,  2003 was
$634,000 and  $1,236,000  compared to net income of $617,000 and  $1,192,000 for
the  equivalent  periods  in  2002.  The  increase  of  $17,000,  2.8%,  for the
three-month  period  ended  December  31,  2003  was a  combination  of  reduced
provision  for loan losses  combined  with a lower  effective  tax rate that was
partially  offset by lower net interest and  non-interest  income and  increased
non-interest  expense.  For the comparable  six-month  periods,  the increase of
$43,000,  3.6%, was a combination of reduced  provision for loan losses combined
with a lower  effective  tax rate and  increased  non-interest  income  that was
partially  offset  by lower  net  interest  income  and  increased  non-interest
expense.

Diluted  earnings per common share were $0.48 for the  three-month  period ended
December 31, 2003 compared to $0.45 for the  equivalent  period in 2002. For the
comparable  six-month  periods,  diluted earnings per common share were $0.94 in
2003 and $0.87 in 2002.  Return on average  shareholders'  equity was 10.96% for
the three months and 10.61% for the six-months ended December 31, 2003, compared
to 10.52% and 10.28% in 2002.  The return on total average  assets was 1.04% and
1.02% for the three and six-month  periods ended December 31, 2003,  compared to
1.04% and 1.00% in 2002.


NET INTEREST INCOME

The net interest income for the three-month  period ended December 31, 2003, was
$1,558,000  compared to  $1,692,000,  a decrease of 7.9% over the same period in
2002. Accordingly, the Company's net interest margin was 2.73% compared to 3.04%
in 2002.  The net interest  income for the six-month  period ended  December 31,
2003,  was $3,146,000  compared to $3,406,000,  a decrease of 7.6% over the same
period  in 2002.  Accordingly,  the  Company's  net  interest  margin  was 2.78%
compared to 3.03% in 2002.

Total average earning assets increased $5.9 and $1.8 million,  respectively, for
the three and six-month  periods ended December 31, 2003,  over the  comparative
periods in 2002. Total average  investment  securities  increased $9.0 and $11.0
million for the three and six-month  periods over  one-year  ago.  Total average
loans  decreased $2.0 and $6.9 million for the three and six-month  periods over
one-year  ago. The yields on total average  earning  assets were 5.44% and 6.46%
for the  three-month  periods  ended  December 31, 2003,  and 2002 and 5.53% and
6.48% for the six-month periods. The decline in yield was due to adjustable rate
loans  repricing to lower rates, as well as the decline in loan balances and the
corresponding increase in lower yielding securities.  The cost of funds on total
average  interest-bearing  liabilities  were 2.98% and 3.77% for the three-month
periods ended  December 31, 2003, and 2002 and 3.03% and 3.87% for the six-month
periods.

The  following  tables  set forth  consolidated  information  regarding  average
balances and rates.
<PAGE>

<TABLE>
<CAPTION>
                                                              FFW Corp
                                                        Three Months Ending
                                                       (Dollars in thousands)

                                                                     12/31/2003                                 12/31/2002
                                                        Average                    Average          Average                  Average
Interest-earning assets:                                Balance       Interest       Rate           Balance      Interest      Rate
                                                       --------       --------     -------         --------      --------    -------
<S>                                                    <C>             <C>          <C>            <C>            <C>          <C>
Loans                                                  $133,436        $2,179       6.50%          $135,402       $2,644       7.75%
Securities                                               90,884           913       4.01%            81,857          927       4.55%
Other interest-earning assets                             3,002            12       1.59%             4,212           16       1.51%
                                                       --------        ------                      --------       ------
     Total interest-earning assets                      227,322         3,104       5.44%           221,471        3,587       6.46%

Non interest-earning assets:
Cash and due from                                         6,217                                       6,465
Allowance for loan losses                                (2,429)                                     (2,396)
Other non interest-earning assets                        11,820                                      10,767
                                                       --------                                    --------
     Total assets                                      $242,930                                    $236,307
                                                       ========                                    ========

Interest-bearing liabilities:

Interest-bearing deposits                              $148,221           906       2.43%          $151,414        1,219       3.19%
FHLB advances                                            57,997           640       4.39%           48,168           676       5.57%
                                                       --------        ------                      --------       ------
     Total interest-bearing liabilities                 206,218         1,546       2.98%          199,582         1,895       3.77%
                                                       --------        ------                      --------       ------
                                                        206,218                                                    1,895

Non interest-bearing deposit accounts
                                                         11,039                                      10,338
Other non interest-bearing liabilities                    2,681                                       3,136
                                                       --------                                    --------
     Total liabilities                                  219,938                                     213,056
Shareholders' equity                                     22,992                                      23,251
                                                       --------                                    --------
     Total liabilities and shareholders' equity        $242,930                                    $236,307
                                                       ========                                    ========
Net interest income                                                   $ 1,558                                    $ 1,692
                                                                      =======                                    =======
Net interest margin                                                                 2.73%                                      3.04%
                                                                                    ====                                       ====

</TABLE>
<PAGE>
<TABLE>
<CAPTION>
                                                              FFW Corp
                                                         Six Months Ending
                                                       (Dollars in thousands)

                                                                     12/31/2003                                 12/31/2002
                                                        Average                    Average          Average                  Average
Interest-earning assets:                                Balance       Interest       Rate           Balance      Interest      Rate
                                                       --------       --------     -------         --------      --------    -------
<S>                                                    <C>             <C>          <C>            <C>            <C>          <C>
Loans                                                  $131,835        $4,450       6.71%          $138,761       $5,379       7.69%
Securities                                               91,341         1,795       3.93%            80,360        1,905       4.75%
Other interest-earning assets                             2,706            18       1.32%             4,915           40       1.61%
                                                       --------        ------                      --------       ------
     Total interest-earning assets                      225,882         6,263       5.53%           224,036        7,324       6.48%

Non interest-earning assets:
Cash and due from                                         6,242                                       5,871
Allowance for loan losses                                (2,490)                                     (2,393)
Other non interest-earning assets
                                                         11,694                                       9,062
                                                       --------                                    --------
     Total assets                                      $241,328                                    $236,576
                                                       ========                                    ========

Interest-bearing liabilities:

Interest-bearing deposits                              $149,492         1,842       2.45%          $151,444        2,534       3.32%
FHLB advances                                            54,902         1,275       4.62%           49,448         1,384       5.55%
                                                       --------        ------                      --------       ------
     Total interest-bearing liabilities                 204,394         3,117       3.03%          200,892         3,918       3.87%
                                                       --------        ------                      --------       ------

Non interest-bearing deposit accounts                    11,025                                       9,989
Other non interest-bearing liabilities                    2,748                                       2,692
                                                       --------                                    --------
     Total liabilities                                  218,167                                     213,573
Shareholders' equity                                     23,161                                     23,003
                                                       --------                                    --------
     Total liabilities and shareholders' equity        $241,328                                    $236,576
                                                       ========                                    ========
Net interest income                                                   $ 3,146                                    $ 3,406
                                                                      =======                                    =======
Net interest margin                                                                 2.78%                                      3.03%
                                                                                    ====                                       ====
</TABLE>


PROVISION FOR LOAN LOSSES

The  provision  for loan  losses was  $210,000  and  $420,000  for the three and
six-month periods ended December 31, 2003 and $405,000 and $630,000 for the same
periods in 2002.  Changes in the provision for loan losses are  attributable  to
management's  analysis of the adequacy of the allowance for loan losses (ALL) to
address  probable and incurred  losses.  Net  charge-offs of $9,000 and $365,000
have been recorded for the three and six- month periods ended December 31, 2003,
compared to $63,000 and $383,000 of net charge-offs for the same period in 2002.
For the three and six-month  periods ended December 31, 2003, gross  charge-offs
were $161,000 and $549,000.  The ALL was  $2,647,000 or 2.00% of net loans as of
December 31, 2003  compared to  $2,466,000 or 1.90% of net loans as of September
30, 2003 and  $2,592,000 or 2.06% of net loans at June 30, 2003.  Non-performing
loans, which include  non-accruing loans and accruing loans delinquent more than
90 days,  were  $2,472,000  at December  31,  2003  compared  to  $1,742,000  at
September 30, 2003. This increase in  nonperforming  loans for the quarter ended
December 31, 2003 is composed primarily of one commercial loan relationship with
two loans  totaling  $854,000.  Based on an analysis of the  collateral on these
loans,  management  believes that the reserves currently allocated in the ALL on
these loans are adequate to absorb the currently  estimated  potential losses on
these loans.

The Company  establishes  an ALL based on an  evaluation  of risk factors in the
loan portfolio and changes in the nature and volume of its loan  activity.  This
evaluation includes,  among other factors, the level of the Company's classified
and  non-performing  assets and their estimated  value, the economic outlook and
the resulting  impact on real estate and other values in the  Company's  primary
market area,  regulatory  issues and historical loan loss  experience.  Although
management believes it uses the best information available to determine the ALL,
unforeseen  market  conditions  or  other  unforeseen  events  could  result  in
adjustments and net earnings could be  significantly  affected if  circumstances
differ  substantially from the assumptions used in making the determination.  In
addition, a determination by the Company's main operating subsidiary,  the Bank,
as to  the  classification  of its  assets  and  the  amount  of  its  valuation
allowances is subject to review by the OTS which may order the  establishment of
additional general or specific reserve  allowances.  It is management's  opinion
that the ALL is adequate to absorb  existing  losses in the loan portfolio as of
December 31, 2003.
<PAGE>

NON-INTEREST INCOME

Non-interest  income for the three and six-month periods ended December 31, 2003
was $614,000 and  $1,171,000  compared to $647,000 and  $1,131,000  for the same
periods in 2002. The three-month decrease of $33,000 from the prior period was a
result of a $272,000 decrease in gain on sale of loans that was partially offset
by an increase of $174,000 in service  charges and fees. The decrease in gain on
sale of loans will likely  continue in fiscal 2004 if mortgage  rates stay above
the levels seen during the record setting  refinancing cycle that peaked in June
2003. The increase in service charges and fees is the result of the introduction
of new products  whose long term  effects on service  charges and fees cannot be
predicted.  Other  non-interest  income increased  $57,000 in the quarter due to
gains on sale of real  estate  owned.  The  six-month  results  for fiscal  2004
benefited  from a $57,000  increase in earnings on the cash  surrender  value of
bank owned life insurance that was purchased in September 2002. Net gain on sale
of securities and commission income were relatively unchanged from fiscal 2003.


NON-INTEREST EXPENSE

Non-interest  expense for the  three-month  period ended  December 31, 2003, was
$1,280,000,  an increase of  $113,000,  or 9.7%,  compared to the same period in
2002. For the six-month period ended December 31, 2003, non-interest expense was
$2,519,000,  an increase of $155,000,  or 6.5%. Comparing the six-month periods,
other non-interest  expense increased $180,000 from the prior year due primarily
to higher professional fees ($58,000),  real estate owned ($41,000),  bank owned
life insurance ($36,000) and loan expense ($29,000).  The Company completed,  as
of June 2003, the  amortization of the core deposit premium  associated with the
1997  purchase of the South Whitley  branch and has realized  $40,000 in expense
reduction  compared to fiscal 2003. For the six-month  period ended December 31,
2003, data processing expense increased 6.9% and occupancy and equipment expense
increased 4.0% while compensation and employee benefits only increased 0.1% over
the same period in 2002.


INCOME TAXES

The  provisions  for  income  taxes for the three and  six-month  periods  ended
December 31, 2003,  were $48,000 and $142,000  compared to $151,000 and $351,000
for the same periods in 2002.  The  provisions  for income taxes  dropped due to
lower  net  income  before  taxes,  a lower  effective  tax rate  stemming  from
increased  nontaxable  securities  income and  nontaxable  income  from the cash
surrender  value of bank owned  life  insurance  purchased  in  September  2002.
Additionally,  the Bank's  state tax  expense is lower in fiscal 2004 due to the
establishment,  effective  May 2003,  of a domestic  operating  subsidiary  that
manages a portion of the Bank's investment portfolio.  The subsidiary is located
in a state with no corporate income tax.


REGULATORY CAPITAL REQUIREMENTS

The Bank is required to maintain specific amounts of regulatory capital pursuant
to  regulations  of the  OTS.  At  December  31,  2003,  the Bank  exceeded  all
regulatory capital standards as is shown in the following table.

<TABLE>
<CAPTION>
                                                                                                     Minimum
                                                                                                   To Be Well
                                                                      Minimum                   Capitalized Under
                                                                     For Capital                Prompt Corrective
                                         Actual                   Adequacy Purposes             Action Provisions
                                       Amount     Ratio            Amount      Ratio             Amount   Ratio
                                     ---------------------        --------------------          ------------------

<S>                                  <C>            <C>            <C>           <C>            <C>       <C>
As of December 31, 2003
  Total Risk-Based Capital           $ 21,090       14.25%         $11,837       8.00%          $14,797   10.00%

  Tier I (Core) Capital                19,231       13.00%           5,919       4.00%            8,878    6.00%
       (to risk weighted assets)
  Tier I (Core) Capital                19,231        8.05%           9,554       4.00%           11,942    5.00%
       (to adjusted total assets)


</TABLE>
<PAGE>
                                 PART I: ITEM 3
                                 FFW CORPORATION

                             CONTROLS AND PROCEDURES


As of the end of the fiscal  quarter  covered by this report,  an evaluation was
carried  out  under  the   supervision  and  with  the   participation   of  FFW
Corporation's  management,  including  our  Chief  Executive  Officer  and Chief
Financial  Accounting  Officer,  of the effectiveness of our disclosure controls
and procedures (as defined in Exchange Act Rules  13a-15(e) and 15d-15(e)  under
the  Securities  Exchange  Act of 1934).  Based on their  evaluation,  our Chief
Executive Officer and Chief Financial Accounting Officer have concluded that the
Company's  disclosure  controls  and  procedures  are,  to  the  best  of  their
knowledge,  effective to ensure that information required to be disclosed by FFW
Corporation  in  reports  that it files or  submits  under the  Exchange  Act is
recorded,  processed,  summarized and reported within the time periods specified
in Securities and Exchange Commission rules and forms.

Subsequent  to the date of their  evaluation,  our Chief  Executive  Officer and
Chief Financial Accounting Officer have concluded that there were no significant
changes in FFW  Corporation's  internal  controls or in other factors that could
significantly  affect its internal  controls,  including any corrective  actions
with regard to significant deficiencies and material weaknesses.
<PAGE>


                           Part II - Other Information

As of December 31, 2003, management is not aware of any current  recommendations
by regulatory  authorities which, if they were to be implemented,  would have or
are  reasonably  likely  to have a  material  adverse  effect  on the  Company's
liquidity, capital resources or operations.

Item 1 - Legal Proceedings

         Not Applicable.


Item 2 - Changes in Securities  and Small  Business  Issuer  Purchases of Equity
         Securities

         Not Applicable.


Item 3 - Defaults upon Senior Securities

         Not Applicable.


Item 4 - Submission of Matters to a Vote of Security Holders

         Not Applicable.


Item 5 - Other Information

         Not Applicable


Item 6 - Exhibits and Reports on Form 8-K

          (a)  Exhibits
               31(1) Certification required by 17 C.F.R. ss. 240.13a-14(a)
               31(2) Certification required by 17 C.F.R. ss. 240.13a-14(a)
               32   Certification pursuant to 18 U.S.C. ss. 1350

          (b)  Reports  on Form
               8-K Form 8-K for 1st Fiscal  Quarter  Earnings  Release  filed on
               October 31, 2003.
<PAGE>

                                   SIGNATURES


Pursuant  to the  requirement  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.


                                      FFW CORPORATION
                                      Registrant



Date:    February 13, 2004            By: /s/ Roger K. Cromer
         ------------------------         --------------------------------------
                                          Roger K. Cromer
                                          President and Chief Executive Officer


Date:    February 13, 2004            By: /s/ Timothy A. Sheppard
         ------------------------         --------------------------------------
                                          Timothy A. Sheppard
                                          Treasurer and Chief Accounting Officer
<PAGE>


                                  EXHIBIT INDEX


   Exhibit No.   Description of Exhibit                                  Page
   -----------   ----------------------                                  ----

      31(1)      Certification required by 17 C.F.R.ss.240.13a-14(a)      17

      31(2)      Certification required by 17 C.F.R.ss.240.13a-14(a)      18

      32         Certification pursuant to 18 U.S.C.ss.1350               19