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 March 31, 2004
                                       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 May 3, 2004, there were 1,301,229 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 March 31, 2004                  3
             and June 30, 2003

             Consolidated Statements of Income and                           4
             Comprehensive Income for the three and nine
             months ended March 31, 2004 and 2003

             Consolidated Statements of Cash Flows for the                   5
             nine months ended March 31, 2004 and 2003

             Notes to Consolidated Financial Statements                      6


Item 2   Management's Discussion and Analysis of Financial                   8
            Condition and Results of Operations

Item 3   Controls and Procedures                                            15

PART II. OTHER INFORMATION


            Items 1-6                                                       16

            Signature Page                                                  17

            Exhibit Index                                                   18


                                       2
<PAGE>
                          PART I: FINANCIAL INFORMATION
                                 FFW CORPORATION
                           CONSOLIDATED BALANCE SHEETS
<TABLE>
<CAPTION>

                                                                                   (Unaudited)
ASSETS :                                                                             March 31          June 30
                                                                                      2004              2003
                                                                                  ------------      ------------


<S>                                                                               <C>               <C>
  Cash and due from financial institutions......................................  $  6,134,583      $  8,235,956
  Interest-earning deposits in other financial institutions - short term........     3,453,089         1,588,877
                                                                                  ------------      ------------
           Cash and cash equivalents                                                 9,587,672         9,824,833
  Securities available for sale                                                     83,347,299        89,636,775
  Loans receivable, net of allowance for loan losses of $2,446,226 at March 31,
           2004 and $2,592,092 at June 30, 2003 ................................   128,842,747       126,018,943
  Loans held for sale...........................................................       208,700         2,707,850
  Federal Home Loan Bank stock, at cost ........................................     3,576,800         3,445,900
  Accrued interest receivable                                                        1,193,486         1,388,322
  Premises and equipment, net...................................................     3,568,525         2,677,102
  Mortgage servicing rights.....................................................       626,114           614,638
  Cash surrender value of life insurance........................................     4,906,472         4,718,031
  Other assets                                                                       3,264,663         1,738,687
                                                                                  ------------      ------------
                    Total Assets................................................  $239,122,478      $242,771,081
                                                                                  ============      ============
LIABILITIES AND SHAREHOLDERS' EQUITY:

Liabilities:
  Noninterest-bearing demand deposits...........................................  $ 11,784,739      $ 11,238,092
  Savings, NOW and MMDA deposits................................................    70,383,611        70,450,282
  Other time deposits............................................................   78,178,911        81,758,120
                                                                                  ------------      ------------
           Total Deposits.......................................................   160,347,261       163,446,494

  Federal Home Loan Bank advances...............................................    52,407,919        52,038,331
  Accrued interest payable......................................................       614,167           120,640
  Accrued expenses and other liabilities........................................     1,501,962         3,525,548
                                                                                  ------------      ------------
           Total Liabilities....................................................   214,871,309       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: 1,301,229 - March 31, 2004; 1,311,800 - June 30, 2003               18,298            18,298
  Additional paid-in capital....................................................     9,399,507         9,345,123
  Retained earnings.............................................................    20,524,080        19,266,267
  Accumulated other comprehensive income........................................       382,064           720,765
  Unearned management retention plan shares.....................................      (118,530)          (48,172)
  Treasury stock at cost, shares: 528,599 - March 31, 2004 and
      518,028 - June 30, 2003 ..................................................    (5,954,250)      (5,662,213)
                                                                                  ------------      ------------
          Total Shareholders' Equity                                                24,251,169        23,640,068
                                                                                  ------------      ------------

                    Total Liabilities and Shareholders' Equity .................  $239,122,478      $242,771,081
                                                                                  ============      ============
</TABLE>
                                                        See accompanying notes.


                                       3
<PAGE>
<TABLE>
<CAPTION>

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

                                                                 Three Months Ended            Nine Months Ended
                                                                      March 31                    March 31
                                                                 2004          2003          2004          2003
                                                             -----------    ----------    ----------    ----------
Interest and dividend income :
<S>                                                          <C>            <C>           <C>           <C>
  Loans, including fees.................................     $ 2,177,350    $2,491,044    $6,627,477    $7,870,310
  Taxable securities.....................................        707,236       666,157     2,006,014     2,097,297
  Nontaxable securities..................................        221,510       226,942       717,975       700,808
  Other interest-earning assets..........................          8,212        21,225        26,533        61,095
                                                             -----------    ----------    ----------    ----------
           Total interest income.........................      3,114,308     3,405,368     9,377,999    10,729,510

Interest expense:
  Deposits...............................................        856,291     1,139,278     2,697,965     3,672,872
  Other..................................................        626,076       613,968     1,901,570     1,997,731
                                                             -----------    ----------    ----------    ----------
           Total interest expense                              1,482,367     1,753,246     4,599,535     5,670,603
                                                             -----------    ----------    ----------    ----------
Net interest income......................................      1,631,941     1,652,122     4,778,464     5,058,907

  Provision for loan losses..............................        180,000       460,000       600,000     1,090,000
                                                             -----------    ----------    ----------    ----------

Net interest income after provision for loan losses......      1,451,941     1,192,122     4,178,464     3,968,907

Non-interest income :
  Net gain on sale of securities.........................         55,301        25,452        59,013        26,033
  Net gain on sale of loans .............................         54,488       246,575       410,355       784,450
  Commission income  ....................................         63,979        45,108       155,766       132,593
  Service charges and fees...............................        310,060       235,671       798,946       626,920
  Earnings on life insurance ............................         60,808        73,101       207,010       162,520
  Other                                                           13,180        61,241        97,461        85,433
                                                             -----------    ----------    ----------    ----------
           Total non-interest income                             557,816       687,148     1,728,551     1,817,949

Non-interest expense :
  Compensation and benefits..............................        610,384       572,831     1,772,282     1,733,240
  Occupancy and equipment................................        125,067       103,053       334,851       304,825
  Deposit insurance premium..............................          6,117        18,719        43,448        55,221
  Regulatory assessment..................................         15,897        23,101        47,459        70,927
  Correspondent bank charges.............................         61,816        58,003       188,943       178,460
  Data processing expense................................        132,771       138,278       390,585       379,502
  Printing, postage and supplies.........................         34,175        53,811       111,072       133,936
  Amortization of core deposit premium...................            ---        18,286           ---        54,858
  Other                                                          316,276       216,987       933,002       656,563
                                                             -----------    ----------    ----------    ----------
           Total non-interest expense ...................      1,302,503     1,203,069     3,821,642     3,567,532
                                                             -----------    ----------    ----------    ----------

Income before income taxes ..............................        707,254       676,201     2,085,373     2,219,324

  Income tax expense.....................................         62,293        91,738       204,730       442,471
                                                             -----------    ----------    ----------    ----------

Net income                                                   $   644,961    $  584,463    $1,880,643    $1,776,853
                                                             ===========    ==========   ============  ===========
  Change in unrealized appreciation (depreciation) on
  securities available for sale, net of tax                      559,981      (107,681)     (338,701)      485,297
                                                             -----------    ----------    ----------    ----------
Comprehensive income ....................................    $ 1,204,942    $  476,782    $1,541,942    $2,262,150
                                                             ===========    ==========   ============  ===========

Earnings per common share :
  Basic .................................................    $       .50    $      .44    $     1.45    $     1.32
  Diluted................................................    $       .49    $      .44    $     1.42    $     1.31
</TABLE>

                    See accompanying notes.


                                       4
<PAGE>

<TABLE>
<CAPTION>

                          PART I: FINANCIAL INFORMATION
                                 FFW CORPORATION
                      CONSOLIDATED STATEMENTS OF CASH FLOWS
                                   (Unaudited)

                                                                         Nine Months Ended
                                                                              March 31
                                                                       2004              2003
                                                                    ----------        -----------
Cash flows from operating activities :
<S>                                                                 <C>               <C>
  Net income...................................................     $ 1,880,643       $ 1,776,853
  Adjustments to reconcile net income to net cash
      from operating activities :
      Depreciation and amortization............................        608,338            629,091
      Provision for loan losses ...............................        600,000          1,090,000
      Net (gains) losses on sale of :
           Securities...................... ...................        (59,013)           (26,033)
           Loans held for sale ................................       (410,355)          (784,450)
           REOs and repossessed assets.........................        (52,794)           (46,225)
      Originations of loans held for sale .....................    (20,344,584)       (40,265,201)
      Proceeds from sale of loans held for sale ...............     23,075,057         40,660,326
      Increase in cash surrender value of life insurance.......       (188,441)          (151,041)
      Dividends paid as FHLB stock.............................       (130,900)               ---
      Amortization of MRP contribution.........................         24,491             25,191
      Net change in accrued interest receivable and other
               assets..........................................        210,592            191,259
      Amortization of core deposit intangibles.................            ---             54,859
      Net change in accrued interest payable
           and other liabilities ..............................     (1,530,059)           616,504
                                                                    ----------        -----------
           Net cash from operating activities .................      3,682,975          3,771,133

Cash flows from investing activities :
  Proceeds from :
       Sales and calls of securities available for sale........     12,421,046         10,141,285
       Maturities of securities available for sale.............      1,030,000            150,000
       Sales of REOs and repossessed assets....................        667,494            321,625
  Purchase of:
       Securities available for sale...........................    (14,630,957)       (38,341,117)
       Life insurance..........................................            ---         (4,500,000)
  Principal collected on mortgage- backed securities ..........      6,799,354         16,977,070
  Net change in loans receivable ..............................     (5,464,304)        15,846,194
  Purchases of premises and equipment, net.....................     (1,057,792)          (132,232)
                                                                    ----------        -----------
       Net cash from investing activities......................       (235,159)           462,825

Cash flows from financing activities :
  Net change in deposits.......................................     (3,099,233)         6,911,810
  Proceeds from borrowings ....................................     29,000,000          3,000,000
  Repayment on borrowings .....................................    (28,630,412)       (12,621,597)
  Purchase of treasury stock...................................       (393,377)          (743,692)
  Proceeds from stock options..................................         60,875                ---
  Cash dividends paid                                                 (622,830)          (605,324)
                                                                    ----------        -----------
        Net cash from financing activities ....................     (3,684,977)        (4,058,803)
                                                                    ----------        -----------

Net change in cash and cash equivalents........................       (237,161)           175,155
Beginning cash and cash equivalents............................      9,824,833          9,318,513
                                                                    ----------        -----------
Ending cash and cash equivalents...............................     $9,587,672        $ 9,493,668
                                                                    ==========        ===========
Supplemental disclosure of cash flow information
Transfer of loans to REO and repossessed assets                     $2,040,500         $  395,675
</TABLE>


                                                        See accompanying notes.

                                       5
<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
present fairly the financial  condition of FFW  Corporation as of March 31, 2004
and June 30,  2003 and the  results  of its  operations,  for the three and nine
months ended March 31, 2004 and 2003. Financial Statement reclassifications have
been made for the prior period to conform to classifications  used as of and for
the period ended March 31, 2004.

     Operating  results for the three and nine  months  ended March 31, 2004 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 nine month
periods  ending  March 31, 2004,  the weighted  average  shares  outstanding  in
calculating  basic  earnings per share were  1,294,067 and  1,294,747  while the
weighted  average number of shares for diluted earnings per share were 1,322,880
and  1,320,674.  For the three and nine month periods ending March 31, 2003, the
weighted average shares outstanding in calculating basic earnings per share were
1,324,993 and 1,344,580 while the weighted  average number of shares for diluted
earnings per share were 1,340,916 and 1,360,431.


                                       6
<PAGE>

(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        Nine Months Ending
                                                        March 31,                  March 31,
                                                   2004        2003          2004             2003
                                               ----------   ---------     -----------      -----------

<S>                                            <C>          <C>           <C>              <C>
Net income as reported                         $  644,961   $ 584,463     $ 1,880,643      $ 1,776,853

Less:  Stock-based compensation
 expense determined under fair value
 based method                                       5,314       7,370          15,942           22,111
                                               ----------   ---------     -----------      -----------
Pro forma net income                           $  639,647   $ 577,093     $ 1,864,701      $ 1,754,742
                                               ==========   =========     ===========      ===========
Basic earnings per share as reported           $      .50   $     .44     $      1.45      $      1.32
Pro forma basic earnings per share                    .49         .44            1.44             1.31

Diluted earnings per share as reported                .49         .44            1.42             1.31
Pro forma diluted earnings per share                  .48         .43            1.41             1.29
</TABLE>

     There were no stock options  granted during the nine months ended March 31,
2004 or 2003.

     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.


                                       7
<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.

                                       8
<PAGE>

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 March 31,
2004, mortgage servicing rights had a carrying value of $626,000.


FINANCIAL CONDITION

Total  assets were $239.1  million at March 31,  2004,  down $3.6  million  from
$242.8 million at June 30, 2003.  Growth in net loans receivable was offset by a
$6.3 million, or 7.0%, reduction in securities available for sale while deposits
decreased $3.1 million.

Net loans  receivable  increased $2.8 million,  or 2.2%,  from $126.0 million at
June 30, 2003 to $128.8  million at March 31,  2004.  The  increases in the loan
portfolio were comprised primarily of $3.7 million in residential  mortgages and
$1.7 million in home equity and improvement loans. Nonresidential and commercial
loans  decreased  $4.6 million and while  automobile  and other  consumer  loans
decreased $0.6 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.  Loans held
for sale  reduced  from $2.7  million at June 30,  2003 to $209,000 at March 31,
2004.

Premises and equipment,  net increased $891,000,  or 33.3%, from $2.7 million at
June 30,  2003.  The  increase  is the result of an  expansion  of our  Syracuse
office,  the addition of a new office in the Columbia  City,  Indiana market and
the upgrade of computer equipment for retail and back office personnel.

Total deposits  decreased $3.1 million,  or 1.9%, to $160.3 million at March 31,
2004.  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 slightly by $370,000, or 0.7%, to $52.4 million at March
31, 2004.

Total  shareholders'  equity  increased  $611,000 to $24.3  million at March 31,
2004.  The increase  primarily  resulted  from net income  offsetting a $339,000
decrease in unrealized  appreciation  on securities  available for sale,  net of
tax, cash dividends of $623,000 and treasury stock purchases of $393,000.


COMPARISON OF THE THREE AND NINE-MONTH PERIODS ENDED MARCH 31, 2004 AND 2003

Net  income  for the three  and  nine-month  periods  ended  March 31,  2004 was
$645,000 and  $1,881,000  compared to net income of $584,000 and  $1,777,000 for
the equivalent  periods in 2003. The increases of $61,000,  10.4%, and $104,000,
5.8%,  for the  three  and  nine-month  periods  ended  March  31,  2004  were a
combination of reduced  provision for loan losses  combined with lower effective
tax rates that were  partially  offset by lower net  interest  and  non-interest
income and increased non-interest expense.

Diluted  earnings per common share were $0.49 for the  three-month  period ended
March 31, 2004  compared  to $0.44 for the  equivalent  period in 2003.  For the
comparable  nine-month periods,  diluted earnings per common share were $1.42 in

                                       9
<PAGE>

2004 and $1.31 in 2003.  Return on average  shareholders'  equity was 10.97% for
the three months and 10.73% for the nine-months  ended March 31, 2004,  compared
to 10.04% and 10.20% in 2003.  The return on total average  assets was 1.08% and
1.04% for the three and  nine-month  periods  ended March 31, 2004,  compared to
1.00% and 1.00% in 2003.


NET INTEREST INCOME

The net interest  income for the  three-month  period ended March 31, 2004,  was
$1,632,000  compared to  $1,652,000,  a decrease of 1.2% from the same period in
2003. Accordingly, the Company's net interest margin was 2.93% compared to 3.07%
in 2003. The net interest income for the nine-month period ended March 31, 2004,
was $4,778,000  compared to $5,059,000,  a decrease of 5.5% from the same period
in 2003.  Accordingly,  the Company's net interest  margin was 2.83% compared to
3.04% in 2003.

Total average earning assets increased $4.9 and $2.9 million,  respectively, for
the three and  nine-month  periods  ended March 31, 2004,  over the  comparative
periods in 2003.  Total average  investment  securities  increased $4.5 and $8.8
million for the three and  nine-month  periods over one-year ago.  Total average
loans  increased  $3.8 million for the  three-month  period and  decreased  $3.3
million for the nine-month period from one-year ago. The yields on total average
earning assets were 5.60% and 6.32% for the three-month  periods ended March 31,
2004,  and 2003 and 5.55% and 6.45% for the nine-month  periods.  The decline in
net interest  margin was due to adjustable  rate loans repricing to lower rates,
as well as other  interest  earning  assets,  loans  and  securities,  repricing
downward more quickly and to a greater extent than interest bearing liabilities.
The cost of funds on total average  interest-bearing  liabilities were 2.93% and
3.59% for the  three-month  periods ended March 31, 2004, and 2003 and 3.00% and
3.78% for the nine-month periods.

                                       10
<PAGE>

The  following  tables  set forth  consolidated  information  regarding  average
balances and rates.
<TABLE>
<CAPTION>
                                                              FFW Corp
                                                        Three Months Ending
                                                       (Dollars in thousands)


                                                                3/31/2004                                   3/31/2003
                                                     Average                    Average         Average                    Average
Interest-earning assets:                             Balance      Interest       Rate           Balance       Interest      Rate
------------------------                             --------     --------      -------         --------      --------     -------
<S>                                                  <C>           <C>           <C>            <C>            <C>          <C>
Loans                                                $133,068      $2,177        6.58%          $129,260       $2,492       7.82%
Securities                                             88,218         929        4.28%            83,711          893       4.40%
Other interest-earning assets                           3,483           9        1.04%             6,925           21       1.23%
                                                     --------     --------                      --------      --------
     Total interest-earning assets                      3,483       3,115        5.60%           219,896        3,406       6.32%
                                                      224,769

Non interest-earning assets:
Cash and due from                                       5,729                                      5,988
Allowance for loan losses                              (2,472)                                    (2,546)
Other non interest-earning assets                      12,528                                     10,997
                                                     --------                                   --------
     Total assets                                    $240,554                                   $234,335
                                                     ========                                   ========

Interest-bearing liabilities:

Interest-bearing deposits                            $147,974         856        2.33%          $152,935        1,139       3.02%
FHLB advances                                          55,724         627        4.53%            44,906          614       5.55%
                                                     --------     --------                      --------      --------
     Total interest-bearing liabilities               203,698       1,483        2.93%           197,841        1,753       3.59%
                                                     --------     --------                      --------      --------

Non interest-bearing deposit accounts                  10,956                                     10,442
Other non interest-bearing liabilities                  1,983                                      2,419
                                                     --------                                   --------
     Total liabilities                                216,637                                    210,702
Shareholders' equity                                   23,917                                     23,633
                                                     --------                                   --------
     Total liabilities and shareholders' equity      $240,554                                   $234,335
Net interest income                                                $1,632                                      $1,653
                                                                   ======                                     ========
Net interest margin                                                              2.93%                                      3.07%
                                                                                ======                                      ======
</TABLE>



                                       11
<PAGE>
<TABLE>
<CAPTION>

                                                              FFW Corp
                                                         Nine Months Ending
                                                       (Dollars in thousands)


                                                                3/31/2004                                   3/31/2003
                                                     Average                    Average         Average                    Average
Interest-earning assets:                             Balance      Interest       Rate           Balance       Interest      Rate
------------------------                             --------     --------      -------         --------      --------     -------
<S>                                                  <C>           <C>           <C>            <C>            <C>           <C>
Loans                                                $132,246      $6,627        6.67%          $135,594       $7,871        7.73%
Securities                                             90,300       2,724        4.04%            81,477        2,798        4.63%
Other interest-earning assets                           2,965          27        1.21%             5,585           61        1.45%
                                                     --------     --------                      --------      --------
     Total interest-earning assets                    225,511       9,378        5.55%           222,656       10,730        6.45%


Non interest-earning assets:
Cash and due from                                       6,071                                      5,910
Allowance for loan losses                              (2,484)                                    (2,444)
Other non interest-earning assets                      11,972                                      9,707
                                                     --------                                   --------
     Total assets                                    $241,070                                   $235,829
                                                     ========                                   ========
Interest-bearing liabilities:

Interest-bearing deposits                            $148,986       2,698        2.41%          $151,941        3,673        3.22%
FHLB advances                                          55,176       1,902        4.59%            47,934        1,998        5.55%
                                                     --------     --------                      --------      --------
     Total interest-bearing liabilities               204,162       4,600        3.00%           199,875        5,671        3.78%
                                                     --------     --------                      --------      --------

Non interest-bearing deposit accounts                  11,002                                     10,140
Other non interest-bearing liabilities                  2,493                                      2,601
                                                     --------                                   --------
     Total liabilities                                217,657                                    212,616
Shareholders' equity                                   23,413                                     23,213
                                                     --------                                   --------

     Total liabilities and shareholders' equity      $241,070                                   $235,829
                                                     ========                                   ========
Net interest income                                                $4,778                                      $5,059
                                                                   ======                                     ========
Net interest margin                                                              2.83%                                       3.04%
                                                                                ======                                      ======
</TABLE>

PROVISION FOR LOAN LOSSES

The  provision  for loan  losses was  $180,000  and  $600,000  for the three and
nine-month periods ended March 31, 2004 and $460,000 and $1,090,000 for the same
periods in 2003.  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 $380,000 and $746,000
have been  recorded for the three and nine- month  periods ended March 31, 2004,
compared to $462,000  and  $845,000  of net  charge-offs  for the same period in
2003.  For the  three  and  nine-month  periods  ended  March  31,  2004,  gross
charge-offs  were $465,000 and  $1,014,000.  The ALL was  $2,446,000 or 1.86% of
portfolio  loans at March 31, 2004  compared to  $2,647,000 or 1.96% at December
31, 2003 and $2,592,000 or 2.02% at June 30, 2003.  Non-performing  loans, which
include non-accruing loans and accruing loans delinquent more than 90 days, were
$461,000 at March 31, 2004  compared to  $2,472,000  at December 31,  2003.  The
decrease  in  nonperforming  loans  for the  quarter  ended  March  31,  2004 is
primarily  the  result  of the  Bank's  repossession  of the  collateral  of two
commercial loan  relationships  and setting up this collateral under real estate
owned and other repossessed assets in the amount of $901,000.

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
                                       12
<PAGE>

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
March 31, 2004.


NON-INTEREST INCOME

Non-interest  income for the three and  nine-month  periods ended March 31, 2004
was $558,000 and  $1,729,000  compared to $687,000 and  $1,818,000  for the same
periods in 2003. The three-month  decrease of $129,000 from the prior period was
a result of a $192,000  decrease in gain on sale of loans and a $48,000 decrease
in other  non-interest  income that was partially offset by increases of $74,000
in service  charges and fees,  $30,000 in gain on sale of securities and $19,000
in commission income. 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.  The  nine-month
results for fiscal 2004 showed  increases  in all areas of  non-interest  income
except for a $374,000 drop in gain on sale of loans compared to 2003.


NON-INTEREST EXPENSE

Non-interest  expense  for the  three-month  period  ended March 31,  2004,  was
$1,303,000,  an increase of  $100,000,  or 8.3%,  compared to the same period in
2003. For the nine-month period ended March 31, 2004,  non-interest  expense was
$3,822,000,  an increase of $254,000, or 7.1%. Comparing the nine-month periods,
other non-interest  expense increased $276,000 from the prior year due primarily
to higher professional fees ($82,000),  real estate owned ($69,000),  bank owned
life insurance  ($37,000),  loan expense ($31,000) and other expense  ($57,000).
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  $55,000  in  expense  reduction  compared  to  fiscal  2003.  For  the
nine-month  period ended March 31, 2004, data processing  expense increased 2.9%
and  occupancy and  equipment  expense  increased  9.9% while  compensation  and
employee benefits increased 2.3% over the same period in 2003.


                                       13
<PAGE>

INCOME TAXES

The provisions for income taxes for the three and nine-month periods ended March
31, 2004,  were  $62,000 and  $205,000  compared to $92,000 and $442,000 for the
same periods in 2003.  The  provisions  for income taxes  dropped due to 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 March 31, 2004, 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
                                       ------     -----            ------      -----             ------   -----
As of March 31, 2004
<S>                                <C>           <C>              <C>           <C>              <C>      <C>
Total Risk-Based Capital           $ 20,530      14.15%           $ 11,611      8.00%            $14,513  10.00%

Tier I (Core) Capital                18,708      12.89%              5,805      4.00%              8,708   6.00%
       (to risk weighted assets)
Tier I (Core) Capital                18,708       7.98%              9,378      4.00%             11,723   5.00%
       (to adjusted total assets)

</TABLE>


                                       14
<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.


                                       15
<PAGE>



                           Part II - Other Information

As of March 31, 2004, 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

          On March 25, 2003,  the Board of Directors  approved the repurchase of
          5% of the Company's outstanding shares of common stock, or 66,090 such
          shares, on the open market.  The program had no expiration date. As of
          March 31, 2004, the Company had repurchased  29,571 shares pursuant to
          this repurchase program, leaving 36,519 shares subject to the plan.

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 2nd Fiscal Quarter Earnings Release filed on January
                    30, 2004.

                                       16
<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:    May 3, 2004                    By:   /s/ Roger K. Cromer
                                           -------------------------------------
                                           Roger K. Cromer
                                           President and Chief Executive Officer


Date:    May 3, 2004                    By:   /s/ Timothy A. Sheppard
                                           -------------------------------------
                                           Timothy A. Sheppard
                                           Treasurer and Chief
                                                Accounting Officer

                                       17
<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


                                       18