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 September 30, 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 ___

           Transitional Small Business Disclosure Format (check one):

                                 Yes ___    No _X_

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


As of November 13, 2003, there were 1,292,229 shares of the Registrant's  common
stock issued and outstanding.
<PAGE>
                                 FFW CORPORATION

                                      INDEX


PART I.  FINANCIAL INFORMATION                                          PAGE NO.

Item 1.    Consolidated Financial Statements

               Consolidated Balance Sheets for September 30, 2003           3
               and June 30, 2003

               Consolidated Statements of Income and                        4
               Comprehensive Income for the three months
               ended September 30, 2003 and 2002.

               Consolidated Statements of Cash Flows for the                5
               three months ended September 30, 2003 and 2002.

               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                                         13


PART II. OTHER INFORMATION


            Items 1-6                                                      14

            Signature Page                                                 15

            Exhibit Index                                                  16
<PAGE>
<TABLE>
<CAPTION>

                                                     PART I: FINANCIAL INFORMATION
                                                            FFW CORPORATION
                                                      CONSOLIDATED BALANCE SHEETS

                                                                                          (Unaudited)
ASSETS :                                                                                 September 30       June 30
                                                                                            2003             2003
                                                                                       -------------    -------------
<S>                                                                                    <C>              <C>
   Cash and due from financial institutions ........................................   $   5,051,943    $   8,235,956
   Interest-earning deposits in other financial institutions - short term ..........       1,179,714        1,588,877
                                                                                       -------------    -------------
      Cash and cash equivalents ....................................................       6,231,657        9,824,833
   Securities available for sale ...................................................      89,272,470       89,636,775
   Loans receivable, net of allowance for loan losses of $2,446,030 at September 30,
      2003 and $2,592,092 at June 30, 2003 .........................................     128,563,120      128,726,793
   Federal Home Loan Bank stock, at cost ...........................................       3,488,700        3,445,900
   Accrued interest receivable .....................................................       1,189,970        1,388,322
   Premises and equipment, net .....................................................       2,680,873        2,677,102
   Mortgage servicing rights asset .................................................         617,782          614,638
   Cash surrender value of life insurance ..........................................       4,785,021        4,718,031
   Other assets ....................................................................       2,540,630        1,738,687
                                                                                       -------------    -------------
         Total Assets ..............................................................   $ 239,370,223    $ 242,771,081
                                                                                       =============    =============

LIABILITIES AND SHAREHOLDERS' EQUITY:

Liabilities:
   Noninterest-bearing demand deposits .............................................   $  10,276,650    $  11,238,092
   Savings, NOW and MMDA deposits ..................................................      70,793,874       70,450,282
   Other time deposits .............................................................      78,114,573       81,758,120
                                                                                       -------------    -------------
      Total Deposits ...............................................................     159,185,097      163,446,494
   Federal Home Loan Bank advances .................................................      55,288,331       52,038,331
   Accrued interest payable ........................................................         641,752          120,640
   Accrued expenses and other liabilities ..........................................       1,524,481        3,525,548
                                                                                       -------------    -------------
         Total Liabilities .........................................................     216,639,661      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: 1,292,229 - September 30, 2003; 1,311,800 - June 30, 2003 .......          18,298           18,298
   Additional paid-in capital ......................................................       9,345,123        9,345,123
   Retained earnings ...............................................................      19,657,976       19,266,267
   Accumulated other comprehensive income ..........................................        (194,678)         720,765
   Unearned management retention plan shares .......................................         (40,567)         (48,172)
   Treasury stock at cost, shares: 537,599 - September 30, 2003 and
      518,028 - June 30, 2003 ......................................................      (6,055,590)      (5,662,213)
                                                                                       -------------    -------------
         Total Shareholders' Equity ................................................      22,730,562       23,640,068
                                                                                       -------------    -------------

                     Total Liabilities and Shareholders' Equity ....................   $ 239,370,223    $ 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
                                                                 September 30
                                                             2003           2002
                                                         -----------    -----------
<S>                                                      <C>            <C>
Interest and dividend income :
   Loans, including fees..............................   $ 2,271,094    $ 2,735,061
   Taxable securities.................................       629,209        748,365
   Nontaxable securities..............................       252,716        229,186
   Other interest-earning assets .....................         6,231         23,869
                                                         -----------    -----------
      Total interest income ..........................     3,159,250      3,736,481

Interest expense :
   Deposits ..........................................       935,749      1,314,668
   Other .............................................       635,599        707,632
                                                         -----------    -----------
      Total interest expense .........................     1,571,348      2,022,300
                                                         -----------    -----------

Net interest income ..................................     1,587,902      1,714,181

   Provision for loan losses .........................       210,000        225,000
                                                         -----------    -----------

Net interest income after provision for loan losses ..     1,377,902      1,489,181

Non-interest income :
   Net gain on sale of securities ....................         3,712          1,222
   Net gain on sale of loans .........................       270,663        180,183
   Commission income .................................        35,761         39,306
   Service charges and fees ..........................       157,490        234,012
   Earnings on life insurance ........................        73,101         16,258
   Other .............................................        16,373         13,270
                                                         -----------    -----------
      Total non-interest income ......................       557,100        484,251

Non-interest expense :
   Compensation and benefits .........................       579,353        579,905
   Occupancy and equipment ...........................       103,951        100,272
   Deposit insurance premium .........................        18,926         18,028
   Regulatory assessment .............................        15,431         23,538
   Correspondent bank charges ........................        60,967         55,567
   Data processing expense ...........................       128,511        119,361
   Printing, postage and supplies ....................        38,879         38,353
   Amortization of core deposit premium ..............          --           18,286
   Other .............................................       293,328        244,199
                                                         -----------    -----------
      Total non-interest expense .....................     1,239,346      1,197,509
                                                         -----------    -----------

Income before income taxes ...........................       695,656        775,923

   Income tax expense ................................        94,059        200,183
                                                         -----------    -----------

Net income ...........................................   $   601,597    $   575,740
                                                         ===========    ===========

   Change in unrealized appreciation (depreciation) on
   securities available for sale, net of tax .........      (915,443)       716,854
                                                         -----------    -----------
Comprehensive income .................................   $  (313,846)   $ 1,292,594
                                                         ===========    ===========

Earnings per common share :
   Basic .............................................   $       .46    $       .42
   Diluted ...........................................   $       .45    $       .42

                            See accompanying notes.

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

                                                                    Three Months Ended
                                                                       September 30
                                                                   2003            2002
                                                              ------------    ------------
<S>                                                           <C>             <C>
Cash flows from operating activities :
   Net income .............................................   $    601,597    $    575,740
   Adjustments to reconcile net income to net cash
      from operating activities :
      Depreciation and amortization .......................        303,195         113,795
      Provision for loan losses ...........................        210,000         225,000
      Net (gains) losses on sale of :
         Securities .......................................         (3,712)         (1,222)
         Loans held for sale ..............................       (270,663)       (180,183)
         REOs and repossessed assets ......................            626           1,981
      Originations of loans held for sale .................    (13,972,750)     (8,741,414)
      Proceeds from sale of loans held for sale ...........     14,120,453       8,834,183
      Increase in cash surrender value of life insurance ..        (66,990)        (15,282)
      Amortization of MRP contribution ....................          7,605           9,387
      Net change in accrued interest receivable and other
         assets ...........................................        373,723         205,634
      Amortization of core deposit intangibles ............           --            18,286
      Net change in accrued interest payable
         and other liabilities ............................     (1,479,955)        460,907
                                                              ------------    ------------
         Net cash from operating activities ...............       (176,871)      1,506,812

Cash flows from investing activities :
   Proceeds from :
      Sales and calls of securities available for sale ....      3,540,191       3,252,317
      Maturities of securities available for sale .........        240,000         150,000
      Sales of REOs and repossessed assets ................        105,624         185,185

   Purchase of:
      Securities available for sale .......................     (7,688,649)     (7,069,083)
      FHLB stock ..........................................        (42,800)            --
      Life insurance ......................................           --        (4,500,000)
   Principal collected on mortgage-backed securities ......      2,891,203       3,097,579
   Net change in loans receivable .........................       (795,827)      5,050,797
   Purchases of premises and equipment, net ...............        (51,385)        (33,957)
                                                              ------------    ------------
      Net cash from investing activities ..................     (1,801,643)        132,838

Cash flows from financing activities :
   Net change in deposits .................................     (4,261,397)      2,591,502
   Proceeds from borrowings ...............................      9,000,000            --
   Repayment on borrowings ................................     (5,750,000)     (5,500,000)
   Purchase of treasury stock .............................       (393,377)       (167,280)
   Cash dividends paid ....................................       (209,888)       (204,492)
                                                              ------------    ------------
      Net cash from financing activities ..................     (1,614,662)     (3,280,270)

Net change in cash and cash equivalents ...................     (3,593,176)     (1,640,620)
Beginning cash and cash equivalents .......................      9,824,833       9,318,513
                                                              ------------    ------------
Ending cash and cash equivalents ..........................   $  6,231,657    $  7,677,893
                                                              ============    ============

Supplemental disclosure of cash flow information
Transfer of loans to REO and repossessed assets ...........   $    749,500    $    285,875


                            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 September 30,
2003 and June 30, 2003 and the results of its  operations,  for the three months
ended September 30, 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 September 30, 2003.

     Operating  results for the three  months ended  September  30, 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 will  reflect  the  potential
dilution of stock  options and other  common  stock  equivalents.  For the three
month periods ending  September 30, 2003 and 2002,  the weighted  average shares
outstanding in calculating basic earnings per share were 1,304,567 and 1,364,507
while the weighted  average number of shares for diluted earnings per share were
1,326,791 and 1,380,315.


(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.

                                                   Three Months Ending
                                                      September 30,
                                                 2003             2002
                                                 ----             ----

Net income as reported                         $601,597         $575,740

Less:  Stock-based compensation
 expense determined under fair value
 based method                                     5,314            7,370
                                               --------         --------

Pro forma net income                           $596,283         $568,370
                                               ========         ========

Basic earnings per share as reported           $    .46         $    .42
Pro forma basic earnings per share                  .46              .42

Diluted earnings per share as reported              .45              .42
Pro forma diluted earnings per share                .45              .41


     There were no stock options granted during the three months ended September
30, 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.


(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 September
30, 2003, mortgage servicing rights had a carrying value of $618,000.
<PAGE>

       COMPARISON OF THREE MONTH PERIODS ENDED SEPTEMBER 30, 2003 AND 2002

     Net income for the three-month period ended September 30, 2003 was $602,000
compared  to net  income of  $576,000  for the  equivalent  period in 2002.  The
increase  of $26,000  for the three  month  period was  primarily  the result of
increased  non-interest  income  combined with a lower effective tax rate due to
increased  nontaxable  income and  reduced  provision  for loan  losses that was
partially offset by lower net interest income and increased non-interest expense
for the period ended September 30, 2003 compared to September 30, 2002.

     Diluted  earnings  per common share were $0.45 for the  three-month  period
ended  September 30, 2003 compared to $0.42 for the  equivalent  period in 2002.
Return on average  shareholders'  equity was 10.26% for the three  months  ended
September  30,  2003,  compared to 10.01% in 2002.  The return on total  average
assets was 1.00% for the three-month  period ended September 30, 2003,  compared
to 0.96% in 2002.


NET INTEREST INCOME

     The net interest  income for the  three-month  period ended  September  30,
2003,  was $1,588,000  compared to $1,714,000,  a decrease of 7.4% over the same
period in 2002, resulting in a net interest margin of 2.82% compared to 3.01% in
2002.

     Total average  earning  assets  decreased  $2,159,000  for the  three-month
period ended  September  30, 2003,  over the  comparative  period in 2002.  This
decrease was primarily due to the average cash surrender value of life insurance
being $3.8 million higher in fiscal 2004.  Total average  investment  securities
increased  $12.9  million  while total  average  loans  decreased  $11.9 million
comparing the  three-months  ended  September  30, 2003 and 2002.  The yields on
total average  earning assets were 5.62% and 6.56% for the  three-month  periods
ended September 30, 2003, and 2002 as loans refinanced to lower rates,  balances
declined  and were  replaced  with  securities.  The  yields  on  total  average
interest-bearing  liabilities  were 3.09% and 3.97% for the three-month  periods
ended  September  30,  2003,  and 2002 as the cost of  deposits  and  borrowings
reduced by 0.97% and 0.66%.

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

<TABLE>
<CAPTION>

                                                      FFW Corp
                                                Three Months Ending
                                               (Dollars in thousands)

                                                             9/30/2003                                 9/30/2002
                                               Average                    Average          Average                    Average
Interest-earning assets:                       Balance        Interest      Rate           Balance       Interest      Rate
------------------------                       -------        --------      ----           -------       --------      ----
<S>                                            <C>             <C>          <C>            <C>            <C>          <C>
Loans                                          $130,234        $2,271       6.94%          $142,120       $2,735       7.63%
Securities                                       91,798           882       3.85%            78,863          978       4.96%
Other interest-earning assets                     2,410             6       0.99%             5,618           24       1.69%
                                               --------        ------                      --------       ------
   Total interest-earning assets                224,442         3,159       5.62%           226,601        3,737       6.56%


Non interest-earning assets:
Cash and due from                                 6,267                                       5,277
Allowance for loan losses                        (2,551)                                     (2,390)
Other non interest-earning assets                11,568                                       7,357
                                               --------                                    --------
   Total assets                                $239,726                                    $236,845
                                               ========                                    ========

Interest-bearing liabilities:

Interest-bearing deposits                      $150,763           936       2.47%          $151,474        1,315       3.44%
FHLB advances                                    51,807           635       4.88%            50,728          708       5.54%
                                               --------        ------                      --------       ------
   Total interest-bearing liabilities           202,570         1,571       3.09%           202,202        2,023       3.97%
                                               --------        ------                      --------       ------


Non interest-bearing deposit accounts            11,011                                       9,640
Other non interest-bearing liabilities            2,815                                       2,248
                                               --------                                    --------
   Total liabilities                            216,396                                     214,090
Shareholders' equity                             23,330                                      22,755
                                               --------                                    --------
   Total liabilities and shareholders' equity  $239,726                                    $236,845
                                               ========                                    ========
Net interest income                                           $ 1,588                                    $ 1,714
                                                              =======                                    =======
Net interest margin                                                         2.82%                                      3.01%
                                                                            ====                                       ====
</TABLE>
<PAGE>

PROVISION FOR LOAN LOSSES

     The provision for loan losses was $210,000 for the three month period ended
September  30, 2003 and  $225,000  for the same  period 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 $356,000  have been  recorded  for the three month
period ended September 30, 2003, compared to $320,000 of net charge-offs for the
same period in 2002. For the three month periods ended September 30, 2003, gross
charge-offs  were  $388,000.  The ALL was $2,466,000 or 1.90% of net loans as of
September  30,  2003  compared to  $2,592,000  or 2.01% of net loans at June 30,
2003.  Non-performing loans, which include non-accruing loans and accruing loans
delinquent  more than 90 days, were $1,742,000 at September 30, 2003 compared to
$2,616,000 at June 30, 2003. This reduction in nonperforming  loans includes the
transfer of $750,000 to REO and repossessed  assets that occurred in the quarter
ended  September  30, 2003.  Management  believes that the Bank will realize the
carrying  value of these other  assets upon their sale.  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 September 30, 2003.


NON-INTEREST INCOME

     Non-interest income for the three-month period ended September 30, 2003 was
$557,000  compared to  $484,000  for the same  period in 2002.  The  three-month
increase of $73,000 from the prior period  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 loans increased $90,000 but was
offset by a $77,000  decrease  in service  fees and  charges.  Service  fees and
charges were lower due to $120,000 amortization of the mortgage servicing rights
asset for the  three-month  period ended  September 30, 2003 compared to $46,000
amortization  for the  period  ended  September  30,  2002.  Net gain on sale of
securities,  commission  income and other  non-interest  income were  relatively
unchanged from fiscal 2003.


NON-INTEREST EXPENSE

     Non-interest  expense for the three-month  period ended September 30, 2003,
was $1,239,000,  an increase of $42,000, or 3.5%, compared to the same period in
2002.  Other  non-interest  expense  increased  $49,000  from the prior year due
primarily to higher  professional,  loan and real estate owned expense including
$20,000 in higher expenses on bank owned life insurance.  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 will realize the  accompanying
$18,000  per  quarter  expense  reduction  compared  to  fiscal  2003.  For  the
three-month period ended September 30, 2003,  compensation and employee benefits
decreased 0.1%,  occupancy and equipment expense increased 3.7%, data processing
expense  increased 7.7% and all other  non-interest  expense increased 7.4% over
the same period in 2002.


INCOME TAXES

     The provisions for income taxes for the three-month  period ended September
30,  2003,  were $94,000  compared to $200,000 for the same period in 2002.  The
provision for income taxes dropped for the three months ended September 30, 2003
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.
<PAGE>

REGULATORY CAPITAL REQUIREMENTS

     The Bank is required to maintain  specific  amounts of  regulatory  capital
pursuant to regulations of the OTS. At September 30, 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 September 30, 2003
   Total Risk-Based Capital           $ 20,841      14.27%      $11,680       8.00%        $14,601   10.00%

   Tier I (Core) Capital                19,009      13.02%        5,840       4.00%          8,760    6.00%
       (to risk weighted assets)
   Tier I (Core) Capital                19,009       8.07%        9,418       4.00%         11,772    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  September  30,  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

         Not Applicable.

Item 3  -  Defaults upon Senior Securities

         Not Applicable.

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

     The Annual Meeting of  Shareholders  (the "Meeting") of FFW Corporation was
held on October 28, 2003. The matters  approved by  shareholders  at the Meeting
and the number of votes cast for,  against or withheld (as well as the number of
abstentions and broker non-votes) as to each matter are set below:

<TABLE>
<CAPTION>


                  PROPOSAL                                            NUMBER OF VOTES
                  --------                                            ---------------
                                                                      FOR           WITHHELD
                                                                      ---           --------
<S>                                                                   <C>           <C>
Election of the following Directors for a three-year term
         Wayne W. Rees...........................................     1,152,228     4,420
         Ronald D. Reynolds......................................     1,152,893     3,755

                                                                      FOR           AGAINST          ABSTAIN
                                                                      ---           -------          -------
Ratification of Crowe Chizek and Company LLC as
auditors for the fiscal year ending June 30, 2004................     1,149,570     6,565             513

</TABLE>


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

      (b)    Reports on Form 8-K
               Form 8-K for Fiscal Year End Earnings  Release  filed on July 28,
               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:    November 13, 2003            By: /s/ Roger K. Cromer
                                          --------------------------------------
                                          Roger K. Cromer
                                          President and Chief Executive Officer


Date:    November 13, 2003            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. Section 240.13a-14(a)    17

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

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