SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549

                                    Form 1O-Q

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




For Quarter Ended December 31, 1995              Commission File Number 0-1437
--------------------------------------------------------------------------------



                    THE FIRST REPUBLIC CORPORATION OF AMERICA
-------------------------------------------------------------------------------
             (Exact name of registrant as specified in its charter)



                DELAWARE                                    13-1938454
-------------------------------------------------------------------------------
(State or other jurisdiction of                          (I.R.S. Employer
 incorporation or organization)                          Identification No.)


302 Fifth Avenue, New York, N.Y.                               10001
-------------------------------------------------------------------------------
(Address of principal executive office)                     (Zip Code)


       Registrant's telephone number, including area code (212) 279-6100

-------------------------------------------------------------------------------

Former  name,  former  address and former  fiscal  year,  if changed  since last
report:


Indicate by checkmark  whether the registrant (1) has filed all reports required
to be filed by  Sections  13 and 15(d) of the  Securities  Exchange  Act of 1934
during  the  preceding  12  months  and  (2) has  been  subject  to such  filing
requirements for the past 90 days:

                                                Yes  X          No
                                                   -----           -----

As of February 16, 1996 there were 672,289 shares of common stock outstanding.
<PAGE>

                          PART I. FINANCIAL INFORMATION
                          -----------------------------

                    THE FIRST REPUBLIC CORPORATION OF AMERICA
                    -----------------------------------------

                                AND SUBSIDIARIES
                                ----------------

                      CONDENSED CONSOLIDATED BALANCE SHEETS
                      -------------------------------------


                                          December 31,             June 30,
                                              1995                   1995
                                          ------------             ---------
                                           (UNAUDITED)             (SEE NOTE
                                                                     BELOW)
Assets
------
Current Assets
     Cash and Cash Equivalents           $  1,477,177            $  1,294,475
     Accounts Receivable                    5,675,765               6,346,410
     Inventories (Note 2)                   5,050,194               5,472,000
     Other Current Assets                   2,242,355               1,412,028
                                         ------------            ------------
          Total Current Assets             14,445,491              14,524,913
                                         ------------            ------------
Property, Plant and Equipment              72,254,014              71,688,171
     Less:  Accumulated Depreciation       31,938,595              30,639,141
                                         ------------            ------------
              Net Properties               40,315,419              41,049,030
                                         ------------            ------------
Other Assets                               26,870,392              27,165,787
                                         ------------            ------------
TOTAL ASSETS                             $ 81,631,302            $ 82,739,730
                                         ============            ============

Liabilities & Stockholders' Equity
----------------------------------

Current Liabilities                      $ 10,291,917            $  9,534,371
                                         ------------            ------------
Long Term Debt                             24,556,689              25,539,845
                                         ------------            ------------
Other Liabilities and Deferred Credits      4,518,160               4,411,404
                                         ------------            ------------

Stockholders' Equity:
     Common Stock                           1,175,261               1,175,261
     Other Stockholders' Equity            41,089,275              42,078,849
                                         ------------            ------------
       Total Stockholders' Equity          42,264,536              43,254,110
                                         ------------            ------------

TOTAL LIABILITIES & STOCKHOLDERS' EQUITY $ 81,631,302            $ 82,739,730
                                         ============            ============

NOTE:  The balance sheet at June 30, 1995
       has been derived from the audited
       financial statements at that date
       and condensed.


       SEE NOTES TO CONDENSED UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS
<PAGE>
                    THE FIRST REPUBLIC CORPORATION OF AMERICA
                    -----------------------------------------
                                AND SUBSIDIARIES
                                ----------------

                      CONSOLIDATED STATEMENT OF OPERATIONS
                      ------------------------------------
                                   (UNAUDITED)
                                   -----------

                                      Six months ended      Three months ended
                                         December 31,          December 31,

                                      1995        1994      1995         1994
                                      ----        ----      ----         ----
Revenues
 Net sales-Products              $11,272,970  $10,979,772 $5,063,800 $5,070,301
 Real Estate and Hotel Operations 11,298,406   10,768,820  5,670,658  5,426,589
 Other (including equity in net
 loss of affiliated entities)       (432,604)     827,305   (196,651)   463,653
                                  ----------- ----------- ----------  ----------
       Total Revenues              22,138,772  22,575,897 10,537,807 10,960,543
                                  ----------- ----------- ---------- ----------

Expenses
 Cost of Sales                    10,449,210    8,857,985  4,901,862  4,241,733
 Operating-real estate and hotel  5,146,866     4,961,074  2,654,303  2,520,416
 Selling, general & administrative2,992,628     3,011,735  1,386,207  1,453,928
 Depreciation and amortization    1,899,908     1,833,499    953,069    909,943
 Real estate taxes                1,321,770     1,311,941    660,397    641,862
 Interest                         1,688,374     1,442,188    833,271    740,510
                                 ----------   ----------- ----------  ----------
       Total Expenses            23,498,756    21,418,422 11,389,109 10,508,392
                                 ----------   ----------- ----------  ----------

(Loss) income before income taxes,
  and minority interests         (1,359,984)    1,157,475    (851,302)  452,151
Income taxes - Note 3              (209,000)     (322,000)    (94,000) (105,000)
Minority interests                  618,214       132,668     319,464   125,370
                                -----------   -----------  ---------- ---------

    Net (Loss) income           $  (950,770)  $   968,143  $ (625,838) $472,521
                                ===========   ===========  ========== ==========

(Loss) earnings per share:
    Net (Loss) income           $     (1.41)  $      1.44  $     (.93) $    .70
                                ===========   ===========  ========== ==========


Average shares outstanding         673,061       674,057      672,783   674,007



       SEE NOTES TO CONDENSED UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS
<PAGE>
                    THE FIRST REPUBLIC CORPORATION OF AMERICA
                    -----------------------------------------
                                AND SUBSIDIARIES
                                ----------------
                 CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS
                 ----------------------------------------------
                                    UNAUDITED
                                    ---------

                                                     Six Months Ended
                                                        December 31,
                                                    1995            1994
                                                    ----            ----

OPERATING ACTIVITIES
 Net (Loss) Income                            $  (950,770)        $  968,143
  Adjustments to Reconcile Income to Net
     Cash Provided by Operating Activities:
       Depreciation and Amortization            1,899,908          1,833,499
       Minority Interests' Share of Loss in
        Subsidiaries                             (618,214)          (132,668)
 Changes in Operating Assets and Liabilities:
  Decrease (Increase) in Accounts and
    Other Receivables                              79,015           (920,539)
  Decrease (Increase) in Inventories              421,806           (232,630)
  Increase in Other Assets                       (830,327)        (1,000,296)
  Increase in Accounts Payable                    157,546          1,310,563
  Increase in Other Liabilities                   106,756             37,838
                                               ----------        -----------
CASH PROVIDED BY OPERATIONS                       265,720          1,863,910
                                               ----------        -----------
INVESTING ACTIVITIES
 Purchases of Property Plant and Equipment     (1,166,297)         (2,849,559)
 Investment in and Advances to Affiliated
   Entities - Net                                 913,609          (1,125,818)
 Payments Received on Mortgages Receivable        591,630             380,000
                                              -----------         -----------

     NET CASH PROVIDED (USED) BY
         INVESTING ACTIVITIES                     338,942          (3,595,377)
                                             ------------         -----------
FINANCING ACTIVITIES
 Proceeds from Mortgages and Notes Payable - Net  600,000           2,400,000
 Payments on Long Term Debt                      (983,156)         (1,158,620)
 Other Financing Activities                       (38,804)            (13,932)
                                             ------------          ----------
     NET CASH (USED) PROVIDED BY
         FINANCING ACTIVITIES                    (421,960)          1,227,448
                                             ------------        ------------

     INCREASE (DECREASE) IN CASH AND
         CASH EQUIVALENTS                        182,702             (504,019)
 Cash and Cash Equivalents at Beginning
     of Period                                 1,294,475            1,316,144
                                             -----------           ----------

CASH AND CASH EQUIVALENTS AT END OF PERIOD   $ 1,477,177           $  812,125
                                             ===========           ==========

            SEE NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
<PAGE>
                 THE FIRST REPUBLIC CORPORATION OF AMERICA
                 -----------------------------------------
                               AND SUBSIDIARIES
                               ----------------
       NOTES TO CONDENSED UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS
       --------------------------------------------------------------

1.   CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
     -------------------------------------------

The  condensed  consolidated  balance  sheet  as of  December  31,  1995 and the
consolidated  statements of operations  and cash flows for the six month periods
ended  December 31, 1995 and 1994,  have been  prepared by the Company,  without
audit. In the opinion of management,  all adjustments (which include only normal
recurring  adjustments)  necessary  to present  fairly the  financial  position,
results of  operations  and cash flows at December  31, 1995 and for all periods
presented, have been made.


2.   INVENTORIES
     -----------
                                December 31,                  June 30,
                                   1995                         1995
                                   ----                         ----

  Work-in process and
     raw materials             $ 1,636,773                 $ 1,945,308
  Finished goods                 3,413,421                   3,526,692
                               -----------                 -----------
                               $ 5,050,194                 $ 5,472,000
                               -----------                 -----------

3.   INCOME TAXES
     ------------
                                         Six Months Ended
                                            December 31,

                                  1995                          1994
                                  ----                          ----

     Federal                  $    -                        $ 100,000
     State                      209,000                       222,000
                              ---------                     ---------
                              $ 209,000                     $ 322,000
                              ---------                     ---------
<PAGE>
         MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION
         -----------------------------------------------------------
                          AND RESULTS OF OPERATIONS
                          -------------------------
                                (IN THOUSANDS)
                                 ------------

Liquidity and Capital Resources
-------------------------------

Working  capital  for the six  months  ended  December  31,  1995  decreased  by
approximately $837. Net cash provided by operating  activities was approximately
$266. Net cash used by financing  activities was approximately $422. Net cash of
approximately $339 was provided by investing activities.

The company has a $10,000 term loan and a $3,000  revolving  line of credit with
its principal lender, collateralized by a mortgage on the East Newark Industrial
Center.  At December 31, 1995,  $3,000 is outstanding  under the line of credit.
The term loan, which has an outstanding  balance of $7,778 at December 31, 1995,
requires  monthly  principal  payments of $56 and matures on August 1, 1997 when
the remaining unpaid principal  balance of $6,667 will become due. The revolving
line, which is renewable  annually,  is due December 31, 1996. The interest rate
on both facilities is one percent in excess of the lender's prime rate.


Results of Operations
---------------------

                  Six months ended December 31, 1995 and 1994
                  -------------------------------------------

Income from  operations  before  income taxes and minority  interests  decreased
$2,517. The components are as follows:

                                                                  (Decrease)
                              1995                1994             Increase
                              ----                ----             ---------

  Real Estate              $ 2,464             $ 2,468             ($      4)
  Hotel                        360                 223                   137
  Seafood                   (2,276)              (   6)               (2,270)
  Textile                       76                 385                  (461)
  Corporate                 (1,832)             (1,913)                   81
                            -------              ------             --------
                          ($ 1,360)            $ 1,157             ($  2,517)
                           -------             -------              --------
<PAGE>
         MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION
         -----------------------------------------------------------
                    AND RESULTS OF OPERATIONS - CONTINUED
                    -------------------------------------
                               (IN THOUSANDS)
                                ------------

REAL ESTATE
-----------

     Revenues  increased  $439. A mortgage  obtained  January 1, 1995 on the
Jefferson  Bank Building in Miami Beach,  Florida  increased  mortgage  interest
expense by $158 and repairs and  maintenance  increased  by $182.  There were no
other significant variations in any expense category.


HOTEL
-----

     Revenues increased $91 over last year. Hotel earnings increased $137 as
a result of the higher revenues and lower operating costs.


SEAFOOD
-------

     Revenues  increased  $1,299 in the current period.  Earnings  decreased
$2,270 for the seafood division due primarily to the presence of "brown tide" at
our clam operation during the summer months which curtailed production, the lack
of availability of scallops for Lambert  Seafood  operations,  and a substantial
reduction in the sales price of shrimp resulting from a temporary  oversupply of
product worldwide.


TEXTILES
--------

     Hanora  Spinning's  earnings  increased $171 to $287 for the six months
due to higher operating costs.  Hanora South and J & M Dyers recognized combined
losses of $200 compared to last years profit of $155 due  substantially to J & M
Dyers  completion  of a  substantial  contract  that  expired in December  1994.
Whitlock  Combing incurred a loss of $163 in the current period as compared to a
loss of $228 last year relating to its property in South Carolina which is being
offered for sale.  Overall,  textile  revenues  decreased  $1,013 due to reduced
sales at J & M of approximately $1,000.


CORPORATE/OTHER
---------------

     Corporate including the operations of the nursing homes and interest on
the Company's term loan and revolving line of credit, remained approximately the
same.

<PAGE>
          MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION
          -----------------------------------------------------------
                      AND RESULTS OF OPERATIONS - CONTINUED
                      -------------------------------------
                                 (IN THOUSANDS)
                                  ------------ 

               Three months ended December 31, 1995 and 1994
               ---------------------------------------------

Income from  operations  before  income taxes and minority  interests  decreased
$1,303. The Components are as follows:


                                                               (Decrease)
                          1995                1994              Increase
                          ----                ----              ---------

Real Estate            $ 1,254             $ 1,178               $    76
Hotel                      139                 153                   (14)
Seafood                 (1,297)               (285)                (1,012)
Textile                   (170)                246                   (416)
Corporate                 (777)               (840)                    63
                        -------                ----              --------
                       $  (851)            $   452               $ (1,303)
                       -------             --------              --------

REAL ESTATE
-----------

         Revenues  increased  $252.  Interest  on the  Jefferson  Bank  Building
mortgage increased $78, repairs and maintenance  increased $110 and snow removal
costs increased $33.

HOTEL
-----

         Hotel earnings  decreased $14, there were no significant  variations in
any expense category.

SEAFOOD
-------

         Earnings  decreased $1,012  substantially  due to increased losses from
shrimp operations in Ecuador and lack of product at Lambert Seafood.


TEXTILES
--------

         Earnings  decreased $416.  Hanora Spinning's  earnings  decreased $242.
Hanora South and J & M Dyers  recognized  combined losses of $135 as compared to
last  year's  profits of $102 due  substantially  to a decrease  in revenue  and
earnings at J & M Dyers as a result of the completion of a substantial  contract
received from a new customer that expired in December 1994. Whitlock Combing had
a $43  decrease in losses due to the closing of the wool  combing  plant in June
1992.

CORPORATE/OTHER
---------------

         Corporate expenses remained substantially the same.
<PAGE>
                        PART II.  OTHER INFORMATION
                        ---------------------------

ITEM 6.   Exhibits and Reports on Form 8-K.

          Exhibits:  None
          --------

          Reports:   There were no reports on Form 8-K filed
          -------    during the quarter ended December 31, 1995.


                                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.



                                   THE FIRST REPUBLIC CORPORATION OF AMERICA
                                   -----------------------------------------
                                                  Registrant

Date:  February 28, 1996           /s/ Norman A. Halper
                                   ------------------------------------------
                                                 Norman A. Halper
                                                    President


Date:   February 28, 1996          /s/ Harry Bergman
                                   ------------------------------------------
                                                 Harry Bergman
                                                   Treasurer
<PAGE>

              The First Republic Corporation of America
                              and Subsidiaries

                             Article 5 FDS - 10-Q

           At December 31, 1995 and for the six months then ended
                              December 31, 1995



               Item Description
               ----------------
Cash and cash items                                            $1,477,177
Marketable securities                                               ---
Notes and accounts receivable-trade                             5,675,765
Allowances for doubtful accounts                                  279,906
Inventory                                                       5,050,194
Total current assets                                           14,445,491
Property, plant and equipment                                  72,254,014
Accumulation depreciation                                      31,938,595
Total assets                                                   81,631,302
Total current liabilities                                      10,291,917
Bonds, mortgages and similar debt                              24,556,689
Preferred stock-mandatory redemption                                ---
Preferred stock-no mandatory redemption                             ---
Common stock                                                    1,175,261
Other stockholders' equity                                     41,089,275
Total liabilities and stockholders' equity                     81,631,302
Net sales of tangible products                                 11,272,970
Total revenues                                                 22,138,772
Cost of tangible goods sold                                    10,449,210
Total costs and expenses applicable to sales and revenues      11,331,172
Other costs and expenses                                            ---
Provision for doubtful accounts and notes                          30,000
Interest and amortization of debt discount                      1,688,374
Loss before taxes and other items                              (1,359,984)
Income tax expense                                                209,000
Loss continuing operations                                      ( 950,770)
Discontinued operations                                              ---
Extraordinary items                                                  ---
Cumulative effect-changes in accounting principles                   ---
Net income or loss                                              ( 950,700)
Loss per share-primary                                              (1.41)
Loss per share-fully diluted                                        (1.41)
<PAGE>