UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                   FORM 10-QSB

(Mark One)

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

                       For the quarterly period ended September 30, 2005
                                                      --------------------------

[_] TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE EXCHANGE ACT
                       For the transition period from __________ to ___________
                       Commission file number 0-503777
                                              ----------------------------------

                         FLATBUSH FEDERAL BANCORP, INC.
--------------------------------------------------------------------------------
       (Exact name of small business issuer as specified in this charter)

FEDERAL                                                          11-3700733
--------------------------------------------------------------------------------
(State or other jurisdiction of                             (IRS Employer
  incorporation or organization)                             Identification No.)

                 2146 NOSTRAND AVENUE, BROOKLYN, NEW YORK 11210
--------------------------------------------------------------------------------
                    (Address of principal executive offices)

                                 (718) 859-6800
--------------------------------------------------------------------------------
                           (Issuer's telephone number)


--------------------------------------------------------------------------------
              (Former name, former address and former fiscal year,
                         if changed since last report)

Check  whether the issuer (1) filed all reports  required to be filed by Section
13 or 15(d) of the  Exchange  Act 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 [ ]

                APPLICABLE ONLY TO ISSUERS INVOLVED IN BANKRUPTCY
                   PROCEEDINGS DURING THE PRECEDING FIVE YEARS

Check whether the registrant filed all documents and reports required to be
filed by Section 12, 13 or 15(d) of the Exchange Act after the distribution of
securities under a plan confirmed by a court. Yes [ ] No [ ]

                      APPLICABLE ONLY TO CORPORATE ISSUERS

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

             As of November 14, 2005 the Registrant had outstanding
                   -----------------
                        2,492,451 shares of common stock

Transitional Small business Disclosure Format (Check one):  Yes [ ]   No [X]


<PAGE>
<TABLE>
<CAPTION>

                  FLATBUSH FEDERAL BANCORP, INC. AND SUBSIDIARIES

                                        INDEX
                                                                                Page
                                                                               Number
                                                                               ------
<S>                                                                            <C>
PART I - FINANCIAL INFORMATION

         Item 1:  Financial Statements

                  Consolidated Statements of Financial Condition
                  at September 30, 2005 and December 31, 2004 (Unaudited)         1

                  Consolidated Statements of Income and Comprehensive
                  Income for the Three and Nine months  Ended
                  September 30, 2005 and 2004 (Unaudited)                         2

                  Consolidated Statements of Cash Flows for the Nine Months
                  Ended September 30, 2005 and 2004 (Unaudited)                   3

                  Notes to Consolidated Financial Statements                      4

         Item 2:  Management's Discussion and Analysis or
                  Plan of Operation                                               7 - 13

         Item 3:  Controls and Procedures                                         14

PART II - OTHER INFORMATION                                                       15

1. Legal Proceedings

2. Unregistered Sales of Equity Securities and Use of Proceeds

3. Defaults upon Senior Securities

4. Submission of Matters to a Vote of Securities Holders

5. Other Information

6. Exhibits


SIGNATURES                                                                        16

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

                                PART I - FINANCIAL INFORMATION
                                 ITEM 1 - FINANCIAL STATEMENTS
                        FLATBUSH FEDERAL BANCORP, INC. AND SUBSIDIARIES
                         CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION
                                         (Unaudited)

                                                                September 30,     December 31,
ASSETS                                                               2005            2004
------                                                          ------------------------------
<S>                                                             <C>              <C>
Cash and amounts due from depository institutions               $   1,842,973    $   1,448,349

Interest earning deposits in other banks                            4,955,863        2,367,125
Federal Funds sold                                                  2,500,000        2,400,000
                                                                ------------------------------
    Cash and cash equivalents                                       9,298,836        6,215,474

Investment securities held to maturity                              8,051,824        9,187,082
Mortgage-backed securities held to maturity                        25,367,063       22,299,834
Loans receivable                                                   94,271,864       92,924,386
Premises and equipment                                              1,187,646          906,782
Federal Home Loan Bank of New York stock                            1,039,000          858,200
Interest receivable                                                   600,889          575,253
Other assets                                                        1,276,180        1,281,000
                                                                ------------------------------
    Total assets                                                $ 141,093,302    $ 134,248,011
                                                                ------------------------------

LIABILITIES AND STOCKHOLDERS' EQUITY
------------------------------------

Liabilities:
Deposits                                                        $ 112,297,523    $ 116,857,017
FHLB Advances                                                      10,638,935               --
Advance payments by borrowers for taxes and insurance                 542,248          341,473
Income Taxes                                                           61,965               --
Other Liabilities                                                   1,604,039        1,239,419
                                                                ------------------------------
    Total liabilities                                             125,144,710      118,437,909
                                                                ------------------------------
Stockholders' equity:
Preferred stock $0.01 par value, 1,000,000 shares authorized;
     none issued and outstanding                                           --               --
Common stock $0.01 par value, 9,000,000 shares authorized;
     2,545,813 issued; and 2,492,451 and 2,282,375 shares              25,458           23,144
     outstanding, respectively
Additional paid in capital                                         10,206,355        7,805,233
Retained earnings substantially restricted                          6,919,442        9,030,255
Unearned employees' stock ownership plan ("ESOP") shares             (626,528)        (652,640)
Treasury stock - 53,362 shares and 32,000 shares respectively        (576,135)        (395,890)
                                                                ------------------------------
    Total stockholders' equity                                     15,948,592       15,810,102
                                                                ------------------------------

    Total liabilities and stockholders' equity                  $ 141,093,302    $ 134,248,011
                                                                ------------------------------
</TABLE>

See notes to consolidated financial statements.

                                            1
<PAGE>
<TABLE>
<CAPTION>

                                  FLATBUSH FEDERAL BANCORP, INC. AND SUBSIDIARIES
                            CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME
                                                     (Unaudited)

                                                                       Three Months Ended        Nine months Ended
                                                                          September 30              September 30
                                                                    -----------------------   -----------------------
                                                                        2005        2004         2005         2004
                                                                    -----------------------   -----------------------
<S>                                                                 <C>          <C>          <C>         <C>
Interest income
   Loans                                                            $1,468,297   $1,402,895   $4,362,002  $ 4,160,153
   Mortgage-backed securities                                          305,800      220,582      877,052      451,394
   Investments                                                         110,345      152,737      326,981      442,796
   Other interest earning assets                                        43,597       33,703      108,413      138,705
                                                                    -----------------------   -----------------------
          Total interest income                                      1,928,039    1,809,917    5,674,448    5,193,048
                                                                    -----------------------   -----------------------

Interest expense on deposits                                           510,144      450,013    1,467,393    1,365,747
Interest expense on FHLB advances                                       48,004           --       73,282           --
                                                                    -----------------------   -----------------------
          Total interest expense                                       558,148      450,013    1,540,675    1,365,747
                                                                    -----------------------   -----------------------

Net interest income                                                  1,369,891    1,359,904    4,133,773    3,827,301
Provision for loan losses                                                8,224           --       19,111           --
                                                                    -----------------------   -----------------------
          Net interest income after provision for loan losses        1,361,667    1,359,904    4,114,662    3,827,301
                                                                    -----------------------   -----------------------

Non-interest income:
   Fees and service charges                                             49,653       55,558      146,177      162,309
   Miscellaneous                                                         1,728        5,214       10,072       18,596
                                                                    -----------------------   -----------------------
          Total non-interest income                                     51,381       60,772      156,249      180,905
                                                                    -----------------------   -----------------------

Non-interest expenses:
   Salaries and employee benefits                                      754,419      717,946    2,282,642    2,149,642
   Net occupancy expense of premises                                   128,809      127,141      380,306      373,269
   Equipment                                                           134,381      133,552      391,980      417,615
   Directors' fees                                                      48,752       47,836      135,890      115,058
   Legal fees                                                            7,942       27,528       38,324       67,058
  Audit and accounting fees                                             24,493       12,804       74,993       67,771
   Advertising                                                           4,941        5,629       18,923       21,206
   Federal insurance premium                                             4,273        4,942       13,476       18,850
   Other insurance premium                                              40,256       46,780      132,122      133,567
   Miscellaneous                                                        94,088      115,884      297,760      328,663
                                                                    -----------------------   -----------------------
        Total non-interest expenses                                  1,242,354    1,240,042    3,766,416    3,692,699
                                                                    -----------------------   -----------------------

Income before income taxes                                             170,694      180,634      504,495      315,507
Income taxes                                                            70,097       70,887      215,134      135,669
                                                                    -----------------------   -----------------------
Net income and comprehensive income                                 $  100,597   $  109,747   $  289,361   $  179,838
                                                                    =======================   =======================

Net income per common share - Basic and diluted                     $     0.04   $     0.05   $     0.12   $     0.08
Weighted average number of shares outstanding - Basic and diluted    2,408,339    2,230,989    2,352,808    2,229,907

</TABLE>

See notes to consolidated financial statements.

                                                        2
<PAGE>
<TABLE>
<CAPTION>

                        FLATBUSH FEDERAL BANCORP, INC. AND SUBSIDIARIES
                              CONSOLIDATED STATEMENTS OF CASH FLOW
                                          (Unaudited)
                                                             Nine months ended September 30
                                                             ------------------------------
                                                                  2005            2004
                                                              ----------------------------
<S>                                                           <C>             <C>
Cash flow from operating activities:
  Net income                                                  $    289,361    $    179,839
  Adjustments to reconcile net income to net cash
  provided by operating
activities:
     Depreciation and amortization of premises and
        equipment                                                   85,149         104,982
     Net amortization of premiums, discount and
        deferred loan fees and cost                               (101,541)        (43,911)
     Provision for loan losses                                      18,280              --
     (Increase) in accrued interest receivable                     (25,636)        (74,997)
     (Increase) decrease in other assets                             4,820         375,862
     Increase in other liabilities                                 426,583          85,321
     ESOP Shares committed to be released                           33,054          36,075
                                                              ----------------------------
        Net cash provided by operating activities                  730,070         663,171
                                                              ----------------------------

Cash flow from investing activities:
     Proceeds from calls and maturities of investment
        securities held to maturity                              1,142,884       5,196,355
     Purchases of investment securities held to maturity                --      (4,000,000)
     Principal repayment on mortgage-backed securities
        held to maturity                                         3,584,744       1,212,273
     Purchases of mortgage-backed securities
        held to                                                 (6,615,917)    (13,098,631)
maturity
     Purchases of loan participation interest                   (2,425,000)       (967,454)
     Net change in loans receivable                              1,117,103      (2,138,116)
     Additions to premises and equipment                          (366,013)        (63,704)
     Purchase of FHLBNY stock                                     (180,800)        (31,000)
                                                              ----------------------------
        Net cash provided by (used in) investing activities     (3,742,999)    (13,890,277)
                                                              ----------------------------

Cash flow from financing activities:
     Net  (decrease) in deposits                                (4,559,494)     (7,759,121)
     Increase in borrowings                                     10,638,935              --
     Increase  in advance payments by borrowers
         for taxes and insurance                                   200,775         327,233
     Cash dividend paid to stockholders                             (3,680)             --
     Purchase of Treasury Stock                                   (180,245)             --
                                                              ----------------------------
        Net cash provided by (used in) financing activities      6,096,291      (7,431,888)
                                                              ----------------------------

Net increase (decrease) in cash and cash equivalents             3,083,362     (20,658,994)
Cash and cash equivalents - beginning                            6,215,474      29,259,705
                                                              ----------------------------

Cash and cash equivalents - ending                            $  9,298,836    $  8,600,711
                                                              ============================
Supplemental disclosure of cash flow information
 Cash paid during the year for:
     Interest                                                 $  1,540,675    $  1,365,745
                                                              ----------------------------

     Income taxes                                             $    215,134    $    135,214
                                                              ----------------------------
</TABLE>

See notes to consolidated financial statements

                                            3
<PAGE>

                 FLATBUSH FEDERAL BANCORP, INC. AND SUBSIDIARIES

                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
                   ------------------------------------------

NOTE 1.  PRINCIPLES OF CONSOLIDATION
------------------------------------

The consolidated  financial  statements include the accounts of Flatbush Federal
Bancorp, Inc. ("the Company"), the Flatbush Federal Savings and Loan Association
("the  Association")  and the Association's  subsidiary  Flatbush REIT, Inc. The
Company's  business  is  conducted  principally  through  the  Association.  All
significant  intercompany  accounts and  transactions  have been  eliminated  in
consolidation.

NOTE 2.  BASIS OF PRESENTATION
------------------------------

The accompanying  unaudited  consolidated  financial statements were prepared in
accordance  with  instructions  for Form  10-QSB and  regulation  S-X and do not
include  information  or  footnotes  necessary  for a complete  presentation  of
financial  condition,  results of operations  and cash flows in accordance  with
U.S.  generally  accepted  accounting  principles.  However,  in the  opinion of
management,   all  adjustments  (consisting  of  normal  recurring  adjustments)
necessary for a fair presentation of the consolidated  financial statements have
been  included.  The results of  operations  for the three and nine months ended
September 30, 2005, are not  necessarily  indicative of the results which may be
expected for the entire year.

NOTE 3.  NET INCOME PER COMMON SHARE
------------------------------------

Net income per common  share was  computed by dividing  net income for three and
nine months ended September 30, 2005 by the weighted average number of shares of
common stock outstanding  adjusted for unearned shares of the ESOP.  Diluted net
income per common share did not differ from basic net income per common share as
there were no contracts or  securities  exercisable  or which could be converted
into  common  stock.  Stock  options and  restricted  stock  awards  granted are
considered  common stock  equivalents  and  therefore  considered in diluted net
income per share calculations, if dilutive, using treasury stock method.

NOTE 4.  CRITICAL ACCOUNTING POLICIES
-------------------------------------

We consider accounting policies involving  significant judgments and assumptions
by management  that have, or could have, a material impact on the carrying value
of certain  assets or on income to be  critical  accounting  policies.  Material
estimates that are particularly susceptible to significant changes relate to the
determination  of the allowance for loan losses.  Determining  the amount of the
allowance  for loan  losses  necessarily  involves  a high  degree of  judgment.
Management  reviews  the  level of the  allowance  on a  quarterly  basis,  at a
minimum,  and establishes the provision for loan losses based on the composition
of the loan portfolio, delinquency levels, loss experience, economic conditions,
and other factors related to the  collectibility  of the loan  portfolio.  Since
there has been no material shift in loan  portfolio,  the level of the allowance
for loan  losses has  changed  primarily  due to changes in the size of the loan
portfolio and the level of nonperforming  loans. We have allocated the allowance
among  categories  of  loan  types  as  well as  classification  status  at each
period-end date.  Assumptions and allocation percentages based on loan types and
classification  status  have been  consistently  applied.  Management  regularly
evaluates  various risk factors related to the loan  portfolio,  such as type of
loan, underlying collateral and payment status, and the corresponding  allowance
allocation percentages.

Although we believe that we use the best information  available to establish the
allowance  for loan losses,  future  additions to the allowance may be necessary
based on  estimates  that are  susceptible  to change as a result of  changes in
economic conditions and other factors. In addition, the regulatory  authorities,
as an  integral  part of their  examination  process,  periodically  reviews our
allowance for loan losses. Such agencies may require us to recognize adjustments
to the allowance based on its judgments about information available to it at the
time of their examinations.


                                       4
<PAGE>

NOTE 5.  STOCK-BASED COMPENSATION PLANS
---------------------------------------

The Company,  under a plan  approved by the  stockholders  in 2004,  has granted
stock  options to  employees  and outside  directors.  The Company  accounts for
options granted using the intrinsic value method,  in accordance with Accounting
Principles Board Opinion No. 25, "Accounting for Stock Issued to Employees", and
related  interpretations.  No  compensation  expense has been  reflected  in net
income for the options  granted as all such grants have an exercise  price equal
to the market price of the underlying  stock at the date of grant. The following
table  provided  information  as to net income and  earnings per share as if the
Company  had applied  the fair value  recognition  provisions  of  statement  of
Financial   Accounting   Standards   No.  123,   "Accounting   for   Stock-Based
Compensation", as amended to all option grants.

<TABLE>
<CAPTION>
                                                    Three months ended    Nine months ended
                                                    ----------------------------------------
                                                    September 30, 2005    September 30, 2005
                                                    ----------------------------------------
<S>                                                 <C>                   <C>
Net income as reported                              $          100,597    $          289,361

REMOVE: Total stock-based compensation
       expense, net of income taxes, included in
       net income                                                   --                    --

INCLUDE: Total stock-based compensation
       expense, net of income taxes, that would
       have been included in the determination of
       net income if the fair value method had
       applied to all grants                                   (17,375)              (52,125)
                                                    ----------------------------------------
                Pro forma net income                $           83,222    $          237,236
                                                    ----------------------------------------

Net income per common share, as reported:
     Basic                                          $             0.04    $             0.12
     Diluted                                        $             0.04    $             0.12

Pro forma net income per common share:
     Basic                                          $             0.03    $             0.10
     Diluted                                        $             0.03    $             0.10

</TABLE>

In December  2004,  the  Financial  Accounting  Standards  Board  (FASB)  issued
Statement No. 123 (revised),  "share-based Payment". Statement No. 123 (revised)
replaces  Statement No. 123 and supersedes APB Opinion No. 25. Statement No. 123
(revised)   requires   compensation   costs   related  to  share  based  payment
transactions  to be recognized in the financial  statements over the period that
an employee  provides  service in exchange for the award.  Public  companies are
required to adopt the new standard using a modified  prospective  method and may
elect to restate prior periods using the modified  retrospective  method.  Under
the modified  prospective method,  companies are required to record compensation
cost for new and modified  awards over the related vesting period of such awards
prospectively  and  record  compensation  cost  prospectively  for the  unvested
portion at the date of adoption,  of previously  issued and  outstanding  awards
over the  remaining  vesting  period of such awards.  No change to prior periods
presented is permitted under the modified prospective method. Under the modified
retrospective  method,  companies  record  compensation  costs for prior periods
retroactively  through  restatement  of such  periods  using the exact pro forma
amounts disclosed in the companies'  footnotes.  Also, in the period of adoption
and after,  companies record compensation cost based on the modified prospective
method.

On April 14, 2005, the Securities and Exchange  Commission ("SEC") adopted a new
rule that amends the compliance dates for Statement No. 123 (revised). Under the
new rule,  the Company is required to adopt  Statement  No. 123 (revised) in the
first annual period  beginning after September 15, 2005. The Company has not yet


                                       5
<PAGE>

determined  the method of adoption or the effect of adopting  Statement  No. 123
(revised), and it has not determined whether the adoption will result in amounts
that are similar to the current pro forma disclosures under Statement No. 123.

Early  application  of  Statement  No.  123  (revised)  is  encouraged,  but not
required.

NOTE 6.  RETIREMENT PLANS - COMPONENTS OF  NET PERIODIC PENSION COST
--------------------------------------------------------------------

Periodic pension expense was as follows:

<TABLE>
<CAPTION>

                                                 Three Months Ended         Nine months Ended
                                               ----------------------    ----------------------
                                                     September 30             September 30
                                               ----------------------    ----------------------
                                                  2005         2004         2005         2004
                                               ----------------------    ----------------------
<S>                                            <C>          <C>          <C>          <C>
Service Cost                                   $  42,962    $  51,092    $ 128,886    $ 153,276
Interest Cost
                                                  56,549       46,880      169,647      140,640
Expected return on assets                        (43,364)     (36,520)    (130,092)    (109,560)
Amortization of past service cost                 (2,750)      (2,750)      (8,250)      (8,250)
Amortization of unrecognized net (gain) loss
                                                  18,400       15,399       55,200       46,197
                                               ----------------------    ----------------------
     Net periodic benefit cost
                                               $  71,797    $  74,101    $ 215,391    $ 222,303
                                               ----------------------    ----------------------
</TABLE>

NOTE 7.  RECENT ACCOUNTING PRONOUNCEMENTS
-----------------------------------------

In December  2004,  the  Financial  Accounting  Standards  Board  (FASB)  issued
Statement No. 123(R),  "Share-Based  Payment" ("SFAS No. 123R"). SFAS No. 123(R)
revised  Statement  No. 123,  "Accounting  for  Stock-Based  Compensation",  and
supersedes  APB Opinion No. 25,  "Accounting  for Stock Issued to Employees" and
its  related  implementation   guidance.   Statement  No.  123(R)  will  require
compensation costs related to share-based payment  transactions to be recognized
in  the  financial   statements  (with  limited   exceptions).   The  amount  of
compensation  cost will be measured  based on the  grant-date  fair value of the
equity or liability  instruments  issued.  Compensation costs will be recognized
over the period that an employee provides service in exchange for the award.

SFAS No. 123R was  (originally)  effective for public companies that do not file
as small  business  issuers as of the  beginning of the first  interim or annual
reporting  period that begins after  September 15, 2005.  However,  on April 14,
2005,  the  Securities and Exchange  Commission  ("SEC")  amended the compliance
dates for SFAS No.  123R.  Under the new rule,  the Company is required to adopt
SFAS No. 123R at the beginning of its next fiscal year.  The Company has not yet
determined  the method of adoption or the effect of adopting SFAS No. 123R,  and
it has not  determined  whether the  adoption  will  result in amounts  that are
similar to the current pro forma disclosures under FASB Statement No. 123.


                                       6
<PAGE>

                                     ITEM 2
                 FLATBUSH FEDERAL BANCORP, INC. AND SUBSIDIARIES
            MANAGEMENT'S DISCUSSION AND ANALYSIS OR PLAN OF OPERATION
            ---------------------------------------------------------


Forward-Looking Statement

This Form 10-QSB may include certain forward-looking statements based on current
management  expectations.  The Company's actual results could differ  materially
from those management  expectations.  Factors that could cause future results to
vary from  current  management  expectations  include,  but are not  limited to,
general economic  conditions,  legislative and regulatory changes,  monetary and
fiscal policies of the federal  government,  changes in tax policies,  rates and
regulations  of federal,  state and local tax  authorities,  changes in interest
rates,  deposit flows, the cost of funds,  demand for loan products,  demand for
financial services,  competition,  changes in the quality or composition of loan
and  investment  portfolios of the Company,  changes in  accounting  principles,
policies  or  guidelines,  and other  economic,  competitive,  governmental  and
technological  factors affecting the Company's  operations,  markets,  products,
services and prices.

Comparison of Financial Condition September 30, 2005 and December 31, 2004

The Company's  assets  increased $6.9 million,  or 5.1%, to $141.1 million as of
September  30, 2005 from  $134.2  million at December  31,  2004.  Cash and cash
equivalents  increased $3.1 million,  or 50.0%, to $9.3 million at September 30,
2005  from  $6.2  million  at  December  31,  2004.  Mortgage-backed  securities
increased $3.1 million, or 13.8%, to $25.4 million as of September 30, 2005 from
$22.3 million as of December 31, 2004. Loans receivable  increased $1.3 million,
or 1.5%,  to $94.3  million as of  September  30, 2005 from $92.9  million as of
December 31, 2004. Investment securities decreased $1.1 million, or 12%, to $8.1
million as of September 30, 2005 from $9.2 million as of December 31, 2004.

Total  deposits  decreased  $4.6  million,  or 3.9%,  to  $112.3  million  as of
September 30, 2005 from $116.9 million as of December 31, 2004.

Total stockholders' equity increased $139,000,  or 0.88%. to $15.9 million as of
September 30, 2005 from $15.8 million as of December 31, 2004.

As of September  30,  2005,  the  Association  borrowed  $10.6  million from the
Federal  Home  Loan  Bank of New  York  and  invested  the  borrowings  in loans
receivable  consisting of  residential,  commercial,  mixed-use  properties  and
mortgage-backed securities. After prepayments and amortizations, mortgage-backed
securities  resulted  in a net  increase  of  $3.1  million.  Similarly,  due to
prepayments and  amortizations in loans receivable,  the Association  recorded a
net increase of $1.3 million.  Calls and  repayments  in  investment  securities
resulted  in the  net  decrease  of  $1.1  million.  The  inflow  of  cash  from
prepayments  and  amortizations   from  loans  receivable  and   mortgage-backed
securities  and calls and  repayments in investment  securities  caused cash and
cash equivalents to increase by $3.1 million.

On June 30, 2005, the Company approved a stock repurchase program and authorized
the  repurchase of up to 50,000 shares of the  Company's  outstanding  shares of
common  stock.  Stock  repurchases  will be made  from  time to time  and may be
effected through open market purchases, block trades and in privately negotiated
transactions.  Repurchased  stock  will be held as  treasury  stock  and will be
available for general corporate purposes. As of September 30, 2005, 2,700 shares
were acquired.

Comparison  of Operating  Results for the Three Months Ended  September 30, 2005
and September 30, 2004

         General.  Net income  decreased  $9,000,  or 8.2%,  to $101,000 for the
quarter ended  September 30, 2005 from $110,000 for the quarter ended  September
30,  2004.  The  decrease in earnings  for the quarter was due to  increases  of
$108,000 in total  interest  expense,  $8,000 in  provision  for loan losses and
$2,000 in non-interest  expense and a decrease of $10,000 in non-interest income
offset in part by an increase  of $118,000 in interest  income and a decrease of
$1,000 in income taxes.

                                       7
<PAGE>

         Interest Income.  Interest income increased $118,000,  or 6.5%, to $1.9
million  for the quarter  ended  September  30,  2005 from $1.8  million for the
quarter ended  September 30, 2004. We attribute the increase in interest  income
to a higher average yield on interest earning assets. For the three months ended
September 30, 2005, the average  balance of $131.7  million in  interest-earning
assets earned an average yield of 5.85% compared to 5.46% on an average  balance
of $132.6  million for the three months ended  September  30, 2004. As long term
rates improved, assets were reinvested from investment securities and short-term
liquid  investments to longer term,  higher  yielding loans and  mortgage-backed
securities.

         Interest  income on loans increased  $65,000,  or 4.6%, to $1.5 million
for the quarter ended  September 30, 2005 from $1.4 million for the same quarter
in 2004. The average balance of loans increased  $706,000 to $94 million for the
quarter  ended  September  30, 2005 from $93.1  million  for the  quarter  ended
September 30, 2004.  The average yield on loans  increased by 23 basis points to
6.26% for the quarter ended  September 30, 2005 from 6.03% for the quarter ended
September 30, 2004.

         Interest income on mortgage-backed  securities  increased  $85,000,  or
38.4%,  to $306,000 for the quarter  ended  September 30, 2005 from $221,000 for
the quarter ended  September 30, 2004.  The average  balance of  mortgage-backed
securities  increased  $7.0  million  to $23.7  million  for the  quarter  ended
September 30, 2005 from $16.7 million for the quarter ended  September 30, 2004.
As a result of amortizations and prepayments of higher yielding  mortgage-backed
securities,  the average  yield  decreased  by 11 basis  points to 5.16% for the
quarter ended September 30, 2005 from 5.27% for the same period in 2004.

         Interest income on investment  securities decreased $43,000, or 28%, to
$110,000 for the quarter ended  September 30, 2005 from $153,000 for the quarter
ended September 30, 2004. The average balance of investment securities decreased
$4.8 million to $9.1 million for the quarter ended September 30, 2005 from $13.9
million for the quarter  ended  September  30, 2004.  As a partial  offset,  the
average yield on investment securities increased by 43 basis points to 4.84% for
the quarter ended  September 30, 2005 from 4.41% for the quarter ended September
30, 2004. As long term rates improved,  inflow of cash from calls and repayments
from investment  securities  were  reinvested into longer term,  higher yielding
loans and mortgage-backed securities.

         Interest   income   on   other   interest-earning   assets,   primarily
interest-earning  deposits and federal funds sold,  decreased $10,000, or 29.4%,
to $44,000 for the quarter ended September 30, 2005 from $34,000 for the quarter
ended  September 30, 2004.  The average yield on other  interest  earning assets
increased by 192 basis points to 3.41% for the quarter ended  September 30, 2005
from 1.49% for the quarter ended  September 30, 2004. As a partial  offset,  the
average balance of other interest  earning assets decreased $3.7 million to $5.2
million  for the quarter  ended  September  30,  2005 from $8.9  million for the
quarter ended  September 30, 2004.  Inflow of cash from other  interest  earning
assets  were   reinvested   into  longer  term,   higher   yielding   loans  and
mortgage-backed securities.

         Interest Expense. Total interest expense, comprised of interest expense
on deposits and interest expense on FHLB advances,  increased $108,000,  or 24%,
to $558,000  for the quarter  ended  September  30, 2005 from  $450,000  for the
quarter  ended  September  30,  2004.  The  average  cost  of   interest-bearing
liabilities  increased  by 39  basis  points  to  1.96%  for the  quarter  ended
September  30, 2005 from 1.57% for the quarter  ended  September  30, 2004. As a
partial offset, the average balance of  interest-bearing  liabilities  decreased
$400,000 to $114.2 million for the quarter ended  September 30, 2005 from $114.6
million for the quarter ended September 30, 2004.

         Interest expense on deposits increased  $60,000,  or 13.3%, to $510,000
for the quarter  ended  September  30, 2005 from  $450,000 for the quarter ended
September 30, 2004. The average cost of  interest-bearing  deposits increased by
32 basis points to 1.89% for the quarter ended September 30, 2005 from 1.57% for
the quarter ended  September 30, 2004,  reflecting  the upward trend of interest
rates on deposits.  However,  the average balance of  interest-bearing  deposits
decreased  $6.3 million to $108.3  million for the quarter  ended  September 30,
2005 from $114.6 million for the quarter ended September 30, 2004.

         Interest  expense on FHLB  advances  was $48,000 for the quarter  ended
September 30, 2005.  The average  balance of FHLB advances was $5.9 million with
an average  cost of 3.24%.  There were no FHLB  advances  for the quarter  ended
September 30, 2004.

                                       8
<PAGE>

         Net Interest Income. Net interest income increased $10,000, or 0.7%, to
$1.37  million for the quarter  ended  September 30, 2005 from $1.36 million for
the same  quarter in 2004.  Our  interest  rate spread was 3.90% for the quarter
ended  September 30, 2005 from 3.89% for the quarter  ended  September 30, 2004.
Our interest  margin for the quarter ended September 30, 2005 was 1.15% compared
to 1.16% for the quarter ended September 30, 2004.

         Provision  for Loan Losses.  We establish  provisions  for loan losses,
which are  charged  to  operations,  at a level  necessary  to absorb  known and
inherent  losses that are both probable and reasonably  estimable at the date of
the  financial  statements.  In  evaluating  the level of the allowance for loan
losses, management considers historical loss experience,  the types of loans and
the amount of loans in the loan  portfolio,  adverse  situations that may affect
the  borrower's  ability  to  repay,  the  estimated  value  of  any  underlying
collateral,  and prevailing economic  conditions.  This evaluation is inherently
subjective as it requires estimates that are susceptible to significant revision
as more information  becomes available or as future events change.  Based on our
evaluation of these factors, management did not record a provision for the three
months  ended  September  30,  2004,  but recorded a provision of $8,000 for the
three months ended  September 30, 2005.  The level of the allowance at September
30,  2005 is based on  estimates,  and the  ultimate  losses  may vary  from the
estimates.

         Non-Interest  Income.  Non-interest income decreased $10,000, or 16.4%,
to $51,000 for the quarter ended September 30, 2005 from $61,000 for the quarter
ended September 30, 2004. We experienced  diminished  activity in fee generating
transactions during the quarter ended September 30, 2005.

         Non-Interest Expense.  Non-interest expense increased $2,000, or 0.16%,
to $1.2 million for the quarter ended  September  30, 2005.  The net increase of
$2,000 to  non-interest  expense  is  primarily  attributable  to  increases  to
salaries and employee benefits,  occupancy expense, equipment expense, directors
compensation  and audit and accounting  fees,  partially  offset by decreases in
legal fees, advertising,  federal insurance premium, other insurance premium and
miscellaneous expense.

         Income Tax Expense. The provision for income taxes decreased $1,000, or
1.4%, to $70,000 for the quarter  ended  September 30, 2005 from $71,000 for the
same  quarter in 2004.  The income  tax  expense is based on the lower  level of
income  before  taxes of  $171,000  for the  quarter  ended  September  30, 2005
compared to $181,000 for the quarter ended September 30, 2004.

Comparison of Operating Results for the Nine months Ended September 30, 2005 and
September 30, 2004

         General.  Net income increased  $109,000,  or 61%, to $289,000 for nine
months ended  September 30, 2005 from  $180,000 for nine months ended  September
30, 2004.  The increase was primarily due to an increase of $481,000 in interest
income  offset by increases of $175,000 in total  interest  expense,  $19,000 in
provision for loan losses, $73,000 in non-interest expense and $80,000 in income
taxes and a decrease of $25,000 in non-interest income.

         Interest Income.  Interest income increased $481,000,  or 9.3%, to $5.7
million  for nine months  ended  September  30, 2005 from $5.2  million for nine
months ended  September 30, 2004. The average yield on  interest-earning  assets
increased by 63 basis points to 5.77% for nine months ended  September  30, 2005
from 5.14% for the same period in 2004. As a partial offset, the average balance
of  interest-earning  assets  decreased  $3.6 million to $131.1 million for nine
months  ended  September  30,  2005 from $134.7  million  for nine months  ended
September 30, 2004.

         Interest income on loans increased  $202,000,  or 4.9%, to $4.4 million
for nine months ended September 30, 2005 from $4.2 million for nine months ended
September 30, 2004. The average balance of loans increased $3.4 million to $94.3
million for nine months  ended  September  30, 2005 from $90.8  million for nine
months ended September 30, 2004. The average yield on loans increased by 6 basis
points to 6.17% for nine  months  ended  September  30, 2005 from 6.11% for nine
months ended September 30, 2004.

         Interest income on mortgage-backed  securities  increased $426,000,  or
94.5%,  to $877,000 for nine months ended  September  30, 2005 from $451,000 for
nine months ended  September 30, 2004.  The average  balance of  mortgage-backed
securities  increased  $10.2  million to $22.1  million  for nine  months  ended
September 30, 2005

                                       9
<PAGE>

from $11.8 million for nine months ended  September 30, 2004.  The average yield
on mortgage-backed  securities  increased by 21 basis points to 5.30% from 5.09%
during the comparative periods.

         Interest income on investment  securities decreased $116,000, or 26.2%,
to $327,000  for nine months  ended  September  30, 2005 from  $443,000 for nine
months ended  September 30, 2004. The average  balance of investment  securities
decreased $4.4 million to $9.5 million for nine months ended  September 30, 2005
from $13.9 million for the same period in 2004. As a partial offset, the average
yield  increased by 35 basis points to 4.60% for nine months ended September 30,
2005 from 4.25% for nine months ended September 30, 2004.

         Interest income on other interest-earning assets,  consisting primarily
of  interest-earning  deposits and federal  funds sold,  decreased  $31,000,  or
22.3%,  to $108,000 for nine months ended  September  30, 2005 from $139,000 for
nine  months  ended   September   30,  2004.   The  average   balance  of  other
interest-earning  assets decreased $12.8 million to $5.3 million for nine months
ended  September 30, 2005 from $18.1 million for the comparable  period in 2004.
As a partial  offset,  the average yield  increased by 170 basis points to 2.72%
for nine  months  ended  September  30,  2005 from 1.02% for nine  months  ended
September 30, 2004.

         Interest Expense. Total interest expense, comprised of interest expense
on deposits and interest expense on FHLB advances, increased $174,000, or 12.7%,
to $1.5 million for nine months ended  September  30, 2005 from $1.4 million for
nine months  ended  September  30, 2004.  The average  cost of  interest-bearing
liabilities  increased  by 26 basis  points  to  1.82%  for  nine  months  ended
September 30, 2005 from 1.56% for the same period in 2004. As a partial  offset,
the average balance of  interest-bearing  liabilities  decreased $4.0 million to
$113.1 million for nine months ended  September 30, 2005 from $117.1 million for
nine months ended September 30, 2004.

         Interest  expense on  deposits  increased  $101,000,  or 7.4%,  to $1.5
million  for nine months  ended  September  30, 2005 from $1.4  million for nine
months ended September 30, 2004. The average cost of  interest-bearing  deposits
increased by 21 basis points to 1.77% from 1.56% during the comparative periods.
However, the average balance of interest-bearing deposits decreased $6.7 million
to $110.3  million for nine months ended  September 30, 2005 from $117.1 million
for the nine months ended September 30, 2004.

         Interest expense on FHLB advances was $73,000 for the nine months ended
September 30, 2005.  The average  balance of FHLB advances was $2.8 million with
an average cost of 3.51%.  There were no FHLB advances for the nine months ended
September 30, 2004.

         Net Interest Income. Net interest income increased  $307,000,  or 8.0%,
to $4.1 million for the nine months ended  September  30, 2005 from $3.8 million
for the nine months ended September 30, 2004. Our interest rate spread increased
by 37 basis  points to 3.96% for the nine months ended  September  30, 2005 from
3.59%  for the nine  months  ended  September  30,  2004.  Our  interest  margin
increased by 41 basis points to 4.20% for nine months ended  September  30, 2005
from 3.79% for the nine months ended September 30, 2004.

         Provision  for Loan Losses.  We establish  provisions  for loan losses,
which are  charged  to  operations,  at a level  necessary  to absorb  known and
inherent  losses that are both probable and reasonably  estimable at the date of
the  financial  statements.  In  evaluating  the level of the allowance for loan
losses, management considers historical loss experience,  the types of loans and
the amount of loans in the loan  portfolio,  adverse  situations that may affect
the  borrower's  ability  to  repay,  the  estimated  value  of  any  underlying
collateral,  and prevailing economic  conditions.  This evaluation is inherently
subjective as it requires estimates that are susceptible to significant revision
as more information  becomes available or as future events change.  Based on our
evaluation of these factors,  management did not record a provision for the nine
months ended  September  30,  2004,  but recorded a provision of $19,000 for the
nine months ended  September  30, 2005.  The level of the allowance at September
30,  2005 is based on  estimates,  and the  ultimate  losses  may vary  from the
estimates.

         Non-Interest  Income.  Non-interest  income  decreased  by $25,000,  or
13.8%,  to $156,000 for the nine months ended  September  30, 2005 from $181,000
for the nine  months  ended  September  30,  2004.  The  decline  was  caused by
decreases  of $16,000 in fees and service  charges  and $9,000 in  miscellaneous
fees. We experienced  diminished activity in fee-generating  transactions during
the nine months ended September 30, 2005.

                                       10
<PAGE>

         Non-Interest Expense.  Non-interest expense increased $73,000, or 2.0%,
to $3.8 million for the nine months ended  September  30, 2005 from $3.7 million
for  the  same  period  in  2004.  The  increase  in  non-interest   expense  is
attributable to increases in salaries and employee benefits,  occupancy expense,
directors'  compensation  and audit and  accounting  fees,  partially  offset by
decreases in  equipment  expense,  legal fees,  advertising,  federal  insurance
premium, other insurance premium and miscellaneous expense.

         Income Tax Expense. The provision for income taxes increased $79,000 to
$215,000 for the nine months ended September 30, 2005 from $136,000 for the nine
months ended September 30, 2004. The increase in income tax expense  reflects an
increase in income before taxes to $504,000 for the nine months ended  September
30, 2005 from $316,000 for nine months ended September 30, 2004.

Liquidity and Capital Resources

The Association is required to maintain levels of liquid assets under the Office
of  Thrift  Supervision  (the  "OTS")  regulations   sufficient  to  ensure  the
Association's  safe and sound operation.  The Association's  liquidity  averaged
5.40% during the month of September 2005. The Association  adjusts its liquidity
levels in order to meet  funding  needs for  deposit  outflows,  payment of real
estate taxes from escrow  accounts on mortgage  loans,  repayment of borrowings,
when applicable, and loan funding commitments.  The Association also adjusts its
liquidity level as appropriate to meet its asset/liability objectives.

The  Association's  primary  sources  of funds are  deposits,  amortization  and
prepayments of loans and  mortgage-backed  securities,  maturities of investment
securities  and  funds  provided  from  operations.  While  scheduled  loan  and
mortgage-backed securities amortization and maturing investment securities are a
relatively   predictable   source   of  funds,   deposit   flows  and  loan  and
mortgage-backed securities prepayments are greatly influenced by market interest
rates, economic conditions and competition.

The  Association's  liquidity,  represented by cash and cash  equivalents,  is a
product of its operating, investing and financing activities.

The primary  sources of  investing  activity  are  lending  and the  purchase of
investment  securities and mortgage-backed  securities.  Net loans totaled $94.3
million  and  $92.9  million  at  September  30,  2005 and  December  31,  2004,
respectively. Mortgage-backed and investment securities held to maturity totaled
$33.5  million and $31.5  million at  September  30, 2005 and December 31, 2004,
respectively.   In  addition  to  funding  new  loans  and  mortgage-backed  and
investment securities purchases through operating and financing activities, such
activities   were   funded  by   principal   repayments   on   existing   loans,
mortgage-backed  securities,  maturities of investment  securities  and advances
from FHLB.

Liquidity  management  is  both a  daily  and  long-term  function  of  business
management.  Excess liquidity is generally  invested in short-term  investments,
such as federal funds and interest-bearing deposits. If the Association requires
funds beyond its ability to generate them internally, borrowing agreements exist
with the Federal Home Loan Bank of New York ("FHLB") which provide an additional
source of funds.  At  September  30, 2005,  our FHLB  borrowings  totaled  $10.6
million.

The Association anticipates that it will have sufficient funds available to meet
its current  loan  commitments  and  obligations.  At September  30,  2005,  the
Association had outstanding  commitments to originate or purchase loans of $14.7
million.  Certificates  of  deposit  scheduled  to mature in one year or less at
September 30, 2005,  totaled  $34.0  million.  In addition,  as of September 30,
2005,  the  Association  had a  commitment  to  purchase  the  building  of  its
Bensonhurst branch for $1.7 million. The transaction is expected to close during
the fourth quarter of 2005.  Management believes that, based upon its experience
and the Bank's deposit flow history, a significant portion of such deposits will
remain with the Association.

Under OTS  regulations,  three separate  measurements  of capital  adequacy (the
"Capital Rule") are required. The Capital Rule requires each savings institution
to maintain  tangible  capital  equal to at least 1.5% and core capital equal to
4.0% of its  adjusted  total  assets.  The Capital rule  further  requires  each
savings  institution  to maintain  total  capital  equal to at least 8.0% of its
risk-weighted assets.

                                       11
<PAGE>

The following table sets forth the  Association's  capital position at September
30,2005, as compared to the minimum regulatory capital requirements:

<TABLE>
<CAPTION>

                                                             Minimal Capital      Under Prompt corrective
                                       Actual                  Requirements          Actions Prospective
                               --------------------------------------------------------------------------
                                Amount         Ratio       Amount        Ratio       Amount         Ratio
                                ------         -----       ------        -----       ------         -----
                                                         (Dollars in Thousands)
<S>                            <C>             <C>        <C>              <C>       <C>             <C>
Total Capital                  $15,127         23.6%      $ 5,138          8.0%      $ 6,422         10.0%
(to risk-weighted assets

Tier Capital                    14,966         23.3%           --           --         3,853          6.0%
(to risk-weighted assets

Core(Tier 1) Capital            15,050         10.7%        5,645          4.0%        7,056          5.0%
(to adjusted total assets

Tangible Capital                15,050         10.7%        2,117          1.5%           --           --
(to adjusted total assets

</TABLE>

Management of Interest Rate Risk

         The  ability to maximize  net  interest  income  largely  depends  upon
maintaining a positive interest rate spread during periods of fluctuating market
interest rates. Interest rate sensitivity is a measure of the difference between
amounts of interest-earning assets and interest-bearing liabilities which either
reprice or mature within a given period of time. The difference, or the interest
rate  repricing  "gap",  provides  an  indication  of the  extent  to  which  an
institution's  interest  rate  spread  will be  affected  by changes in interest
rates. A gap is considered  positive when the amount of interest-rate  sensitive
assets  exceeds  the  amount  of  interest-rate  sensitive  liabilities,  and is
considered  negative  when the amount of  interest  rate  sensitive  liabilities
exceeds the amount of interest-rate sensitive assets. Generally, during a period
of rising  interest  rates,  a negative  gap  within  shorter  maturities  would
adversely  affect  net  interest  income,  while a positive  gap within  shorter
maturities  would  result in an increase in net  interest  income,  and during a
period of falling interest rates, a negative gap within shorter maturities would
result in an increase in net interest income while a positive gap within shorter
maturities would result in a decrease in net interest income.

         The Association's current investment strategy is to maintain an overall
securities portfolio that provides a source of liquidity and that contributes to
the Association's  overall  profitability and asset mix within given quality and
maturity considerations.

                                       12
<PAGE>

Net Portfolio Value

         The Association's  interest rate sensitivity is monitored by management
through the use of the OTS model which estimates the change in the Association's
net portfolio value ("NPV") over a range of interest rate scenarios.  NPV is the
present value of expected cash flows from assets,  liabilities,  and off-balance
sheet contracts.  The NPV ratio, under any interest rate scenario, is defined as
the NPV in that  scenario  divided  by the  market  value of  assets in the same
scenario.  The OTS  produces  its  analysis  based  upon data  submitted  on the
Association's quarterly Thrift Financial Reports. The following table sets forth
the   Association's  NPV  as  of  June  30,  2005,  the  most  recent  date  the
Association's NPV was calculated by the OTS.

<TABLE>
<CAPTION>
                                                          Net Portfolio Value as a
                                                          Percentage of Present Value of
                   Net Portfolio Value                    Assets
Change in          --------------------------------       ------------------------------
Interest Rates     Estimated  Amount of  Percent of                   Change in Basis
(basis points)     NPV        Change     Change           NPV Ratio   Points
----------------   ---------  ---------  ----------       ----------  ------------------
                   (Dollars in Thousands)
<S>                <C>        <C>         <C>               <C>        <C>
+300               $ 13,473   $ (9,009)   (40%)             10.17%    -542 basis points
+200                 16,601     (5,882)   (26%)             12.16%    -343 basis points
+100                 19,746     (2,736)   (12%)             14.05%    -154 basis points
    0                22,482         --      --              15.59%             --
-100                 23,487       1,004     4%              16.06%    + 47 basis points

</TABLE>

Certain  shortcomings are inherent in the methodology used in the above interest
rate risk  measurement.  Modeling  changes in net portfolio value require making
certain  assumptions  that may or may not  reflect  the  manner in which  actual
yields and costs respond to changes in market  interest  rates.  In this regard,
the net portfolio  value table  presented  assumes that the  composition  of our
interest-sensitive  assets and liabilities existing at the beginning of a period
remains  constant over the period being measured,  and assumes that a particular
change  in  interest  rates  is  reflected  uniformly  across  the  yield  curve
regardless  of the  duration or repricing  of specific  assets and  liabilities.
Accordingly,  although the net portfolio  value table  provides an indication of
our interest rate risk exposure at a particular point in time, such measurements
are not  intended  to and do not  provide a precise  forecast  of the  effect of
changes in market interest rates on its net interest income and will differ from
actual results.


                                       13
<PAGE>

                                     ITEM 3
                 FLATBUSH FEDERAL BANCORP, INC. AND SUBSIDIARIES
                             CONTROLS AND PROCEDURES
                             -----------------------

As of the end of the period  covered by this report,  based on an  evaluation of
the Company's  disclosure controls and procedures (as defined in Rules 13a-15(e)
and 15d-15(e) under the Securities and Exchange Act of 1934),  each of the Chief
Executive  Officer and the Chief Financial  Officer of the Company has concluded
that the Company's  disclosure  controls and  procedures are effective to ensure
that  information  required to be  disclosed  by the Company in its Exchange Act
reports is recorded,  processed,  summarized and reported  within the applicable
time periods specified by the SEC's rules and forms.

There were no significant  changes in the Company's  internal controls or in any
other factors which could significantly  affect those controls subsequent to the
date of the most recent  evaluation of the September 30, 2005 internal  controls
by the Company,  including any corrective actions with regard to any significant
deficiencies or material weaknesses.



                                       14
<PAGE>


                 FLATBUSH FEDERAL BANCORP, INC. AND SUBSIDIARIES

                           PART II - OTHER INFORMATION


ITEM 1. Legal Proceedings
        -----------------

         We are not involved in any pending legal proceedings other than routine
         legal proceedings  occurring in the ordinary course of business,  which
         involve  amounts  in  the  aggregate   believed  by  management  to  be
         immaterial  to  the   financial   condition  of  the  Company  and  the
         Association.

ITEM 2. Unregistered Sales of Equity Securities and Use of Proceeds
        -----------------------------------------------------------

         None

ITEM 3. Defaults Upon Senior Securities
        -------------------------------

         Not applicable.

ITEM 4. Submission of Matters to a Vote of Security Holders
        ---------------------------------------------------

         None

ITEM 5. Other Information
        -----------------

         None

ITEM 6. Exhibits
        --------

         The following Exhibits are filed as part of this report.

                  11.0     Computation of earnings per share
                  31.1     Certification of Chief Executive  Officer Pursuant to
                           Section 302 of the Sarbanes- Oxley Act of 2002 (filed
                           herewith).
                  31.2     Certification of Chief Financial  Officer Pursuant to
                           Section 302 of the Sarbanes- Oxley Act of 2002 (filed
                           herewith).
                  32.1     Certification  of Chief  Executive  Officer and Chief
                           Financial Officer Pursuant to 18 U.S.C. Section 1350,
                           as   Adopted   Pursuant   to   Section   906  of  the
                           Sarbanes-Oxley Act of 2002 (filed herewith).


                                       15
<PAGE>


                                   SIGNATURES
                                   ----------

Pursuant  to the  requirements  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.



                              FLATBUSH FEDERAL BANCORP, INC.


Date: November 14, 2005   By: /s/ Anthony J. Monteverdi
      -----------------       -------------------------------------------------
                              Anthony J. Monteverdi
                              Chairman, President and
                              Chief Executive Officer



Date: November 14, 2005    By: /s/ John S. Lotardo
      -----------------        ------------------------------------------------
                               John S. Lotardo
                               Senior Vice President and Chief Financial Officer


                                       16