##### Table of Contents



UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
 Washington, D.C. 20549
 FORM 10-Q
  þ
    
    QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES
EXCHANGE ACT OF 1934
 For the quarterly period ended September 30, 2009
 OR
 o
    
    TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE EXCHANGE ACT
 For the transition period from  to
 Commission File Number: 000-51668
 GREENVILLE FEDERAL FINANCIAL CORPORATION
  Ohio
    
    20-3742295(State or other jurisdiction of 
incorporation or organization)
    
    (IRS Employer Identification No.)
 690 Wagner Avenue, Greenville, Ohio 45331
 (Issuers telephone number)
 (Former name, former address and former fiscal year, if changed since last report)
 þ o
 Yes o No o
  Large accelerated filer o
    
    Accelerated filer o
    
    Non-accelerated filer o
    
    Smaller reporting company þ(Do not check if a smaller reporting company)
 o þ




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##### 



Greenville Federal Financial Corporation
 PagePART I  FINANCIAL INFORMATIONItem 1. Consolidated Balance Sheets
    
    
    3Consolidated Statements of Operations
    
    
    4Consolidated Statements of Comprehensive Income (Loss)
    
    
    5Consolidated Statements of Cash Flows
    
    
    6Notes to Consolidated Financial Statements
    
    
    8Item 2. Managements Discussion and Analysis of Financial Condition
and Results of Operations
    
    
    18Item 3. Quantitative and Qualitative Disclosures About Market Risk
    
    
    22Item 4T. Controls and Procedures
    
    
    22PART II  OTHER INFORMATIONItem 1. Legal Proceedings
    
    
    23Item 1A. Risk Factors
    
    
    23Item 2. Unregistered Sales of Equity Securities and Use of Proceeds
    
    
    23Item 3. Defaults Upon Senior Securities
    
    
    23Item 4. Submission of Matters to a Vote of Security Holders
    
    
    23Item 5. Other Information
    
    
    23Item 6. Exhibits
    
    
    23SIGNATURES
    
    
    24Exhibit 4Exhibit 31.1Exhibit 31.2Exhibit 32.1Exhibit 32.2
   2




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ITEM 1. Financial Statements
 Greenville Federal Financial Corporation
Consolidated Balance Sheets
(In thousands, except share data)
 September 30,
    
    
    June 30,2009
    
    
    2009(Unaudited)ASSETSCash and due from banks
    
    $
    1,873
    
    
    $
    1,870Interest-bearing deposits in other financial institutions
    
    
    3,225
    
    
    
    2,604Cash and cash equivalents
    
    
    5,098
    
    
    
    4,474Investment securities designated as available for sale  at fair value
    
    
    12,036
    
    
    
    11,888Investment securities designated as held to maturity  at fair value
    
    
    8
    
    
    
    11Mortgage-backed securities designated as held to maturity  at amortized cost, fair value
of $1,769 and $1,893 at September 30, 2009 and June 30, 2009, respectively
    
    
    1,680
    
    
    
    1,822Loans receivable  net of allowance for loan losses of $633 and $577 at
September 30, 2009 and June 30, 2009, respectively
    
    
    92,499
    
    
    
    91,663Office premises and equipment  at depreciated cost
    
    
    1,921
    
    
    
    1,958Real estate acquired through foreclosure
    
    
    471
    
    
    
    559Stock in Federal Home Loan Bank  at cost
    
    
    2,003
    
    
    
    2,003Cash surrender value of life insurance
    
    
    4,188
    
    
    
    4,151Accrued interest receivable
    
    
    485
    
    
    
    511Deferred federal income taxes
    
    
    143
    
    
    
    143Prepaid expenses and other assets
    
    
    403
    
    
    
    387Total assets
    
    $
    120,935
    
    
    $
    119,570LIABILITIES AND STOCKHOLDERS EQUITYDeposits
    
    $
    74,944
    
    
    $
    72,918Advances from the Federal Home Loan Bank
    
    
    25,896
    
    
    
    26,903Advances by borrowers for taxes and insurance
    
    
    299
    
    
    
    406Accrued interest payable
    
    
    113
    
    
    
    111Other liabilities
    
    
    671
    
    
    
    618Accrued federal income taxes
    
    
    
    
    
    
    Total liabilities
    
    
    101,923
    
    
    
    100,956Commitments and contingencies
    
    
    
    
    
    
    Stockholders equityPreferred stock  authorized 1,000,000 shares, $.01 par value; no shares issued
    
    
    
    
    
    
    Common stock  authorized 8,000,000 shares of $.01 par value; 2,298,411 shares issued and outstanding
    
    
    23
    
    
    
    23Treasury Stock, at cost, 560 shares
    
    
    (4
    )
    
    
    (4
    )Additional paid-in capital
    
    
    9,065
    
    
    
    9,051Retained earnings  restricted
    
    
    10,007
    
    
    
    10,018Shares acquired by Employee Stock Ownership Plan
    
    
    (541
    )
    
    
    (541
    )Accumulated comprehensive income, net of related tax benefits
    
    
    462
    
    
    
    67Total stockholders equity
    
    
    19,012
    
    
    
    18,614Total liabilities and stockholders equity
    
    $
    120,935
    
    
    $
    119,570
 See notes to consolidated financial statements.
  3




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Greenville Federal Financial Corporation
 
 Consolidated Statements of Operations
 (In thousands, except share data)
 (Unaudited)
 Three months endedSeptember 30,2009
    
    
    2008Interest incomeLoans
    
    $
    1,444
    
    
    $
    1,494Mortgage-backed securities
    
    
    23
    
    
    
    17Investment securities
    
    
    120
    
    
    
    178FHLB stock dividend and other interest
    
    
    25
    
    
    
    45Total interest income
    
    
    1,612
    
    
    
    1,734Interest expenseDeposits
    
    
    319
    
    
    
    458Borrowings
    
    
    248
    
    
    
    205Total interest expense
    
    
    567
    
    
    
    663Net interest income
    
    
    1,045
    
    
    
    1,071Provision for losses on loans
    
    
    70
    
    
    
    Net interest income after provision for losses on loans
    
    
    975
    
    
    
    1,071Other incomeCustomer service charges
    
    
    145
    
    
    
    156Other operating
    
    
    81
    
    
    
    71Total other income
    
    
    226
    
    
    
    227General, administrative and other expenseEmployee compensation and benefits
    
    
    597
    
    
    
    567Occupancy and equipment
    
    
    99
    
    
    
    99Franchise taxes
    
    
    43
    
    
    
    48Data processing
    
    
    82
    
    
    
    145Advertising
    
    
    20
    
    
    
    19Other operating
    
    
    280
    
    
    
    205Impairment charge on investment securities
    
    
    
    
    
    
    1,392Loss (gain) on redemption of investment securities
    
    
    (3
    )
    
    
    4Loss on real estate acquired through foreclosure
    
    
    7
    
    
    
    13Total general, administrative and other expense
    
    
    1,125
    
    
    
    2,492Income before income taxes
    
    
    76
    
    
    
    (1,194
    )Federal income taxes
    
    
    14
    
    
    
    54Net income (Loss)
    
    $
    62
    
    
    $
    (1,248
    )Earnings (Loss) per share  basic and diluted
    
    $
    0.03
    
    
    $
    (0.56
    )Dividends declared per share
    
    $
    0.07
    
    
    $
    0.07
 See notes to consolidated financial statements.
  4




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Greenville Federal Financial Corporation
 
 Consolidated Statements of Comprehensive Income (Loss)
 (In thousands)
 (Unaudited)
 Three Months EndedSeptember 30,2009
    
    
    2008Net income (loss)
    
    $
    62
    
    
    $
    (1,248
    )Other comprehensive income, net of related tax benefits:Unrealized holding gains on securities during the
period ending September 30, 2009
    
    
    395
    
    
    
    Comprehensive income (loss)
    
    $
    457
    
    
    $
    (1,248
    )Accumulated other comprehensive income
    
    $
    462
    
    
    $
    
 See notes to consolidated financial statements.
  5




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Greenville Federal Financial Corporation
 
 Consolidated Statements of Cash Flows
 For the three months ended September 30, 2009 and 2008
 (In thousands)
 (Unaudited)
 2009
    
    
    2008Cash flows from operating activities:Net income (loss) for the period
    
    $
    62
    
    
    $
    (1,248
    )Adjustments to reconcile net income to net cash provided by operating activities:Accretion and amortization of premiums and discounts on investments and
mortgage-backed securities  net
    
    
    2
    
    
    
    (1
    )Amortization of deferred loan origination fees
    
    
    (51
    )
    
    
    (16
    )Depreciation and amortization
    
    
    37
    
    
    
    30Amortization of mortgage servicing rights
    
    
    8
    
    
    
    4Other-than-temporary impairment of investment securities designated as
available for sale
    
    
    
    
    
    
    1,392Loss on redemption of investment security
    
    
    (3
    )
    
    
    4Provision for losses on loans
    
    
    70
    
    
    
    (Gain) Loss on real estate acquired through foreclosure
    
    
    7
    
    
    
    13Federal Home Loan Bank stock dividends
    
    
    
    
    
    
    (27
    )Increase in cash surrender value of life insurance
    
    
    (37
    )
    
    
    (40
    )Increase (decrease) in cash due to changes in:Accrued interest receivable on loans
    
    
    22
    
    
    
    24Accrued interest receivable on mortgage-backed securities
    
    
    1
    
    
    
    1Accrued interest receivable on investment securities and other
    
    
    3
    
    
    
    5Prepaid expenses and other assets
    
    
    (24
    )
    
    
    (19
    )Accrued interest payable
    
    
    2
    
    
    
    (38
    )Stock Option expense
    
    
    3
    
    
    
    6Retention Share expense
    
    
    11
    
    
    
    12Other liabilities
    
    
    53
    
    
    
    (297
    )Federal income taxesCurrent
    
    
    
    
    
    
    11Deferred
    
    
    
    
    
    
    Net cash provided by (used in) operating activities
    
    
    166
    
    
    
    (184
    )Cash flows provided by (used in) investing activities:Proceeds from redemption of investment securities available for sale
    
    
    250
    
    
    
    250Proceeds from maturity of investment securities designated as held to maturity
    
    
    
    
    
    
    1,002Proceeds from repayment of mortgage-backed securities
    
    
    143
    
    
    
    62Proceeds from sale of real estate acquired through foreclosure
    
    
    173
    
    
    
    Loan principal repayments
    
    
    2,471
    
    
    
    3,105Loan disbursements
    
    
    (3,418
    )
    
    
    (3,493
    )Additions to real estate acquired through foreclosure
    
    
    
    
    
    
    (4
    )Net cash provided by (used in) investing activities
    
    
    (381
    )
    
    
    922Net cash provided by (used in) operating and investing activities
(balance carried forward)
    
    
    (215
    )
    
    
    738
 continued
  6




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Greenville Federal Financial Corporation
Consolidated Statements of Cash Flows (Continued)
For the three months ended September 30, 2009 and 2008
(In thousands)
(Unaudited)
 2009
    
    
    2008Net cash provided by (used in) operating and investing activities
(balance brought forward)
    
    $
    (215
    )
    
    $
    738Cash flows provided by (used in) financing activities:Net increase in deposit accounts
    
    
    2,026
    
    
    
    (1,784
    )Proceeds from Federal Home Loan Bank advances
    
    
    1,000
    
    
    
    Repayments of Federal Home Loan Bank advances
    
    
    (2,007
    )
    
    
    (1,009
    )Advances by borrowers for taxes and insurance
    
    
    (107
    )
    
    
    (97
    )Dividends on common stock
    
    
    (73
    )
    
    
    (72
    )Net cash provided by (used in) financing activities
    
    
    839
    
    
    
    (2,962
    )Net increase (decrease) in cash and cash equivalents
    
    
    624
    
    
    
    (2,224
    )Cash and cash equivalents at beginning of period
    
    
    4,474
    
    
    
    7,220Cash and cash equivalents at end of period
    
    $
    5,098
    
    
    $
    4,996Supplemental disclosure of cash flow information:Cash paid during the period for:Interest on deposits and borrowings
    
    $
    566
    
    
    $
    701Federal income taxes
    
    $
    
    
    
    $
    40Supplemental disclosure of noncash investing activities:Transfers from loans to real estate acquired through foreclosure
    
    $
    92
    
    
    $
    173Unrealized losses on securities designated as available for sale, net of related tax benefits
    
    $
    395
    
    
    $
    
 See notes to consolidated financial statements.
  7




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Greenville Federal Financial Corporation
 
 Notes to Consolidated Financial Statements
 For the three-month periods ended September 30, 2009 and 2008
 Note 1: Basis of Presentation
    Note 2: Principles of Consolidation
  Note 3: Earnings Per Share
   8




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Greenville Federal Financial Corporation
Notes to Consolidated Financial Statements
   Note 4: Recent Accounting Developments
   Subsequent Events
 : Fair Value Measurements and Disclosures
  9




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Greenville Federal Financial Corporation
Notes to Consolidated Financial Statements
 Financial Instruments
  : Investments  Debt and Equity Securities
  Recently Issued but not yet Effective Accounting Pronouncements:
 Consolidation
  10




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Greenville Federal Financial Corporation
Notes to Consolidated Financial Statements
 Amendments to
FASB Interpretation No. 46(R) Consolidation of Variable Interest Entities,
 Note 5: Commitments
  Note 6: Disclosures About Fair Value of Assets and Liabilities
 Fair Value Measurements
  Level 1
    
    Quoted prices in active markets for identical assets or liabilitiesLevel 2
    
    Observable inputs other than Level 1 prices, such as quoted prices for similar
assets or liabilities; quoted prices in active markets that are not active; or other inputs
that are observable or can be corroborated by observable market data for substantially the
full term of the assets or liabilities.Level 3
    
    Unobservable inputs that are supported by little or no market activity and that are
significant to the fair value of the assets or liabilities
  Available-for-Sale Securities
   11




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Greenville Federal Financial Corporation
Notes to Consolidated Financial Statements
  Fair Value Measurements UsingQuoted Prices in
    
    
    SignificantActive Markets
    
    
    Other
    
    
    Significantfor Identical
    
    
    Observable
    
    
    UnobservableAssets
    
    
    Inputs
    
    
    InputsFair Value
    
    
    (Level 1)
    
    
    (Level 2)
    
    
    (Level 3)2009Asset Management Fund
    
    $
    12,036,000
    
    
    
    
    
    
    $
    12,036,000
  Fair Value of Financial Instruments
    Cash and cash equivalents
 Investment and mortgage-backed securities
 Loans receivable
 Federal Home Loan Bank stock
 Accrued Interest Receivable
  12




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Greenville Federal Financial Corporation
Notes to Consolidated Financial Statements
 Deposits
 Federal Home Loan Bank advances
 Accrued Interest Payable
 Commitments to extend credit
  September 30, 2009
    
    
    June 30, 2009Carrying
    
    
    Fair
    
    
    Carrying
    
    
    FairValue
    
    
    Value
    
    
    Value
    
    
    Value(In thousands)Financial AssetsCash and cash equivalents
    
    $
    5,098
    
    
    $
    5,098
    
    
    $
    4,474
    
    
    $
    4,474Investment securities available
for sale
    
    
    12,036
    
    
    
    12,036
    
    
    
    11,888
    
    
    
    11,888Investment securities held to
maturity
    
    
    8
    
    
    
    8
    
    
    
    11
    
    
    
    11Mortgage-backed securities
    
    
    1,680
    
    
    
    1,769
    
    
    
    1,822
    
    
    
    1,893Loans receivable
    
    
    92,499
    
    
    
    97,188
    
    
    
    91,663
    
    
    
    96,002Accrued interest receivable
    
    
    485
    
    
    
    485
    
    
    
    511
    
    
    
    511$
    113,809
    
    
    $
    118,587
    
    
    $
    112,372
    
    
    $
    116,782Financial LiabilitiesDeposits
    
    $
    74,944
    
    
    $
    75,922
    
    
    $
    72,918
    
    
    $
    73,859Advances from the Federal Home
Loan Bank
    
    
    25,896
    
    
    
    25,059
    
    
    
    26,903
    
    
    
    26,192Advances by borrowers for taxes
and insurance
    
    
    299
    
    
    
    299
    
    
    
    406
    
    
    
    406Accrued interest payable
    
    
    113
    
    
    
    113
    
    
    
    111
    
    
    
    111$
    101,252
    
    
    $
    101,393
    
    
    $
    100,338
    
    
    $
    100,568
 Cash Surrender Value of Life Insurance
   13




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Greenville Federal Financial Corporation
Notes to Consolidated Financial Statements
 Advertising
  Earnings Per Share
  Note 7: Investment and Mortgage-backed Securities
  September 30, 2009Gross
    
    
    Gross
    
    
    EstimatedAmortized
    
    
    Unrealized
    
    
    Unrealized
    
    
    FairCost
    
    
    Gains
    
    
    Losses
    
    
    Value(In thousands)Available for Sale:Asset management fund
    
    $
    11,574
    
    
    $
    462
    
    
    $
    
    
    
    $
    12,036Held to Maturity:Municipal obligations
    
    $
    8
    
    
    $
    
    
    
    $
    
    
    
    $
    8
 June 30, 2009Gross
    
    
    Gross
    
    
    EstimatedAmortized
    
    
    Unrealized
    
    
    Unrealized
    
    
    FairCost
    
    
    Gains
    
    
    Losses
    
    
    Value(In thousands)Available for Sale:Asset management fund
    
    $
    11,821
    
    
    $
    67
    
    
    $
    
    
    
    $
    11,888Held to Maturity:Municipal obligations
    
    $
    11
    
    
    $
    
    
    
    $
    
    
    
    $
    11
  14




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Greenville Federal Financial Corporation
Notes to Consolidated Financial Statements
  September 30, 2009
    
    
    June 30, 2009Estimated
    
    
    
    
    
    
    EstimatedAmortized
    
    
    Fair
    
    
    Amortized
    
    
    FairCost
    
    
    Value
    
    
    Cost
    
    
    ValueHeld to Maturity:Due within one year
    
    $
    8
    
    
    $
    8
    
    
    $
    11
    
    
    $
    11Total held to maturity
    
    $
    8
    
    
    $
    8
    
    
    $
    11
    
    
    $
    11
  September 30, 2009Gross
    
    
    Gross
    
    
    EstimatedAmortized
    
    
    Unrealized
    
    
    Unrealized
    
    
    FairCost
    
    
    Gains
    
    
    Losses
    
    
    Value(In thousands)Federal Home Loan Mortgage
Corporation participation
certificates
    
    $
    150
    
    
    $
    
    
    
    $
    
    
    
    $
    150Federal National Mortgage
Association participation
certificates
    
    
    829
    
    
    
    51
    
    
    
    
    
    
    
    880Government National Mortgage
Association participation
certificates
    
    
    701
    
    
    
    38
    
    
    
    
    
    
    
    739Total
mortgage-backed
securities
    
    $
    1,680
    
    
    $
    90
    
    
    $
    
    
    
    $
    1,769
  15




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Greenville Federal Financial Corporation
Notes to Consolidated Financial Statements
 June 30, 2009Gross
    
    
    Gross
    
    
    EstimatedAmortized
    
    
    Unrealized
    
    
    Unrealized
    
    
    FairCost
    
    
    Gains
    
    
    Losses
    
    
    Value(In thousands)Federal Home Loan Mortgage
Corporation participation
certificates
    
    $
    155
    
    
    $
    
    
    
    $
    
    
    
    $
    155Federal National Mortgage
Association participation
certificates
    
    
    881
    
    
    
    42
    
    
    
    
    
    
    
    923Government National Mortgage
Association participation
certificates
    
    
    786
    
    
    
    29
    
    
    
    
    
    
    
    815Total
mortgage-backed
securities
    
    $
    1,822
    
    
    $
    72
    
    
    $
    
    
    
    $
    1,893
  September 30, 2009
    
    
    June 30, 2009Estimated
    
    
    
    
    
    
    EstimatedAmortized
    
    
    Fair
    
    
    Amortized
    
    
    FairCost
    
    
    Value
    
    
    Cost
    
    
    ValueDue in one year or less
    
    $
    
    
    
    $
    
    
    
    $
    
    
    
    $
    Due after one year
through five years
    
    
    1
    
    
    
    
    
    
    
    1
    
    
    
    1Due after five years
through ten years
    
    
    181
    
    
    
    182
    
    
    
    135
    
    
    
    135Due after ten years
    
    
    1,498
    
    
    
    1,587
    
    
    
    1,686
    
    
    
    1,686$
    1,680
    
    
    $
    1,769
    
    
    $
    1,822
    
    
    $
    1,893
     16




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Greenville Federal Financial Corporation
Notes to Consolidated Financial Statements
 Note 8: Loans Receivable
  September 30,
    
    
    June 30,2009
    
    
    2009(In thousands)Residential real estateOne- to four-family
    
    $
    79,200
    
    
    $
    77,866Multi-family
    
    
    3,804
    
    
    
    3,825Construction
    
    
    1,136
    
    
    
    686Nonresidential real estate
    
    
    5,624
    
    
    
    5,793Commercial
    
    
    2,090
    
    
    
    2,270Consumer and other
    
    
    2,708
    
    
    
    2,710Total loans
    
    
    94,562
    
    
    
    93,150LessUnearned interest
    
    
    7
    
    
    
    10Deferred loan origination fees, net
    
    
    334
    
    
    
    338Allowance for loan losses
    
    
    633
    
    
    
    577Undisbursed portion of loans in process
    
    
    1,089
    
    
    
    562Net loans
    
    $
    92,499
    
    
    $
    91,663
  17




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Greenville Federal Financial Corporation
Managements Discussion and Analysis of Financial Condition and Results of
Operations
 
 ITEM 2. Managements Discussion and Analysis of Financial Condition and Results of Operations.
 Forward Looking Statements
  Critical Accounting Policies
  Discussion of Financial Condition Changes from June 30, 2009 to September 30, 2009
      18




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Greenville Federal Financial Corporation
Managements Discussion and Analysis of Financial Condition and Results of
Operations
       Minimum Required To BeWell Capitalized UnderMinimum Required For
    
    
    Prompt Corrective ActionActual
    
    
    Capital Adequacy Purposes
    
    
    RegulationsAmount
    
    
    Ratio
    
    
    Amount
    
    
    Ratio
    
    
    Amount
    
    
    Ratio(Dollars in thousands)Tangible capital
    
    $
    10,383
    
    
    
    8.63
    %
    
    $
    1,804
    
    
    
    1.50
    %
    
    $
    6,015
    
    
    
    5.00
    %Core capital
    
    $
    10,383
    
    
    
    8.63
    %
    
    $
    4,812
    
    
    
    4.00
    %
    
    $
    7,217
    
    
    
    6.00
    %Risk-based capital
    
    $
    10,920
    
    
    
    13.89
    %
    
    $
    6,289
    
    
    
    8.00
    %
    
    $
    7,861
    
    
    
    10.00
    %
  19




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##### Table of Contents



Greenville Federal Financial Corporation
Managements Discussion and Analysis of Financial Condition and Results of
Operations
 Comparison of Operating Results for the Three-Month Periods Ended September 30, 2009 and 2008
 General
  Net Interest Income
    Provision for Losses on Loans
   20




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##### Table of Contents



Greenville Federal Financial Corporation
Managements Discussion and Analysis of Financial Condition and Results of
Operations
 Other Income
  General, Administrative and Other Expense
   Federal Income Taxes
   21




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##### Table of Contents



Greenville Federal Financial Corporation
Managements Discussion and Analysis of Financial Condition and Results of
Operations
 
 ITEM 3. Quantitative and Qualitative Disclosures About Market Risk
  
 ITEM 4T. Controls and Procedures
    22




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##### Table of Contents



Greenville Federal Financial Corporation
 
 PART II  OTHER INFORMATION
 
 ITEM 1. Legal Proceedings
  
 ITEM 1A. Risk Factors
  
 ITEM 2. Unregistered Sales of Equity Securities and Use of Proceeds
  
 ITEM 3. Defaults Upon Senior Securities
  
 ITEM 4. Submission of Matters to a Vote of Security Holders
  
 ITEM 5. Other Information
  
 ITEM 6. Exhibits
 3.1
    
    Greenville Federal Financial Corporation Federal Stock Subsidiary Holding Company Charter3.2
    
    Greenville Federal Financial Corporation Federal Stock Subsidiary Holding Company Bylaws4
    
    Agreement to Furnish Long-Term Debt Instruments and Agreements10.1
    
    Employment Agreement with Susan J. Allread31.1
    
    Chief Executive Officer certification pursuant to Section 302 of the Sarbanes-Oxley Act of 200231.2
    
    Chief Financial Officer certification pursuant to Section 302 of the Sarbanes-Oxley Act of 200232.1
    
    Chief Executive Officer certification pursuant to Section 906 of the Sarbanes-Oxley Act of 200232.2
    
    Chief Financial Officer certification pursuant to Section 906 of the Sarbanes-Oxley Act
of 2002
  23




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##### Table of Contents



Greenville Federal Financial Corporation
 
 SIGNATURES
  GREENVILLE FEDERAL FINANCIAL CORPORATIONDate:    November 16, 2009
    By:
    /s/ Jeff D. KnieseJeff D. KniesePresident and Chief Executive OfficerDate:    November 16, 2009
    By:
    /s/ Susan J. AllreadSusan J. AllreadChief Financial Officer  24




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##### Table of Contents



INDEX TO EXHIBITS
 3.1
    
    Greenville Federal Financial Corporation Federal Stock Subsidiary Holding Company Charter
(Incorporated by reference to Exhibit 2 to the Registration Statement on Form 8-A filed by the
Registrant with the Securities and Exchange Commission on December 14, 2006)3.2
    
    Greenville Federal Financial Corporation Federal Stock Subsidiary Holding Company Bylaws
(Incorporated by reference to Exhibit 3 to the Registration Statement on Form 8-A filed by the
Registrant with the Securities and Exchange Commission on December 14, 2006)4
    
    Agreement to Furnish Long-Term Debt Instruments and Agreements10.1
    
    Employment Agreement with Susan J. Allread (Incorporated by reference to Exhibit 10.1 to the
Current Report on Form 8-K filed by the Registrant with the Securities and Exchange Commission
on July 24, 2009)31.1
    
    Chief Executive Officer certification pursuant to Section 302 of the Sarbanes-Oxley Act of 200231.2
    
    Chief Financial Officer certification pursuant to Section 302 of the Sarbanes-Oxley Act of 200232.1
    
    Chief Executive Officer certification pursuant to Section 906 of the Sarbanes-Oxley Act of 200232.2
    
    Chief Financial Officer certification pursuant to Section 906 of the Sarbanes-Oxley Act of 2002