|[X]  | ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934     
|---- | -----------------------------------------------------------------------------------------
|     | For the fiscal year ended December 31, 2000                                              
|     | OR                                                                                       
|     |                                                                                          
|[  ] | TRANSITION REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE SECURITIES EXCHANGE ACT OF 1934
|     | For the transition period from  _________________________ to _________________________   

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|Delaware(State or other jurisdiction of incorporationor organization)      | 34-1870418(I.R.S. Employer Identification No.)
|-------------------------------------------------------------------------- | ----------------------------------------------
|55 North Main Street, Niles,  Ohio(Address of principal executive offices) | 44446-5097(Zip Code)                          

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- the strength of the United States economy in general and the strength of the local
economies in which we conduct our operations;
- the effects of, and changes in, trade, monetary and fiscal policies and laws, including
interest rate policies of the Federal Reserve Board;
- inflation, interest rate, market and monetary fluctuations;
- the timely development of and acceptance of new products and services of Home
Federal and the perceived overall value of these products and services by users,
including the features, pricing and quality compared to competitors' products and
services;
- the willingness of users to substitute competitors' products and services for our
products and services;
- the success of Home Federal in gaining regulatory approval of its products and
services, when required;
- the impact of changes in financial services' laws and regulations (including laws
concerning taxes, banking, securities and insurance);
- the impact of technological changes;
- acquisitions;
- changes in consumer spending and saving habits; and
- our success at managing the risks involved in the foregoing.

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|                            | December 31,          
|--------------------------- | ----------------------
|                            | 2000                  
|                            | Amount                
|                            | (Dollars in Thousands)
|Real Estate Loans:          |                       
|One- to four-family         | $25,615               
|Commercial                  | 6,339                 
|Multi-family                | 1,673                 
|Construction or development | 2,344                 
|Total real estate loans     | 35,971                
|                            |                       
|Other Loans:                |                       
|Consumer Loans:             |                       
|Home equity                 | 718                   
|Other                       | 367                   
|Total consumer loans        | 1,085                 
|Commercial business loans   | 226                   
|Total other loans           | 1,311                 
|Total loans                 | 37,282                
|                            |                       
|Less:                       |                       
|Loans in process            | 920                   
|Deferred fees and discounts | 30                    
|Allowance for losses        | 592                   
|                            | 1,542                 
|Total loans receivable, net | $35,740               

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|                            | December 31,          
|--------------------------- | ----------------------
|                            | 2000                  
|                            | Amount                
|                            | (Dollars in Thousands)
|Fixed-Rate Loans:           |                       
|Real estate:                |                       
|One- to four-family         | $15,971               
|Commercial                  | 330                   
|Multi-family                | 57                    
|Construction or development | 1,055                 
|Total real estate loans     | 17,413                
|                            |                       
|Consumer                    | 814                   
|Commercial business         | 226                   
|                            | 1,040                 
|Total fixed-rate loans      | 18,453                
|Adjustable-Rate Loans:      |                       
|Real estate:                |                       
|One- to four-family         | 9,644                 
|Commercial                  | 6,009                 
|Multi-family                | 1,616                 
|Construction or development | 1,289                 
|Total real estate loans     | 18,558                
|Consumer                    | 271                   
|Total adjustable-rate loans | 18,829                
|Total loans                 | 37,282                
|                            |                       
|Less:                       |                       
|Loans in process            | 920                   
|Deferred fees and discounts | 30                    
|Allowance for loan losses   | 592                   
|                            | 1,542                 
|Total loans receivable, net | $35,740               

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|                                       | Real Estate Constructionor Development | CommercialBusiness   | Total    
|-------------------------------------- | -------------------------------------- | -------------------- | ---------
|                                       | Amount                                 | WeightedAverage Rate | Amount   
|                                       | (Dollars in Thousands)                
|Due During Periods Ending
December 31, |                                        |                      |          
|2001(1)                                | $   346                                | 8.42%                | $    0   
|2002 to 2005                           | 1,779                                  | 8.46                 | 126      
|After 2005                             | 219                                    | 8.53                 | 100      
|Totals                                 | $2,344                                 | 8.46%                | $     226

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|                                        | Year Ended December 31,
|--------------------------------------- | -----------------------
|                                        | 2000                   
|                                        | (In Thousands)         
|Originations by type:                   |                        
|Adjustable rate:                        |                        
|Real estate - one- to four-family       | $ 1,118                
|- commercial                            | 44                     
|- multi-family                          | 267                    
|Total adjustable-rate                   | 1,429                  
|Fixed rate:                             |                        
|Real estate - one- to four-family       | 3,227                  
| - commercial                       | 50                     
| - multi-family                     | ---                    
| - land and development             | ---                    
|Non-real estate - consumer              | 418                    
|- commercial business                   | 110                    
|Total fixed-rate                        | 3,805                  
|Total loans originated                  | 5,234                  
|                                        |                        
|Purchases:                              |                        
|Real estate - one- to four-family       | ---                    
| - commercial                       | 1,000                  
| - multi-family                     | ---                    
| - land and development             | ---                    
|Total loans purchased                   | 1,000                  
|Mortgage-backed and related securities  | ---                    
|Total purchased                         | 1,000                  
|                                        |                        
|Repayments:                             |                        
|Principal repayments                    | 11,200                 
|Total reductions                        | 11,200                 
|Increase (decrease) in other items, net | 4                      
|Net increase (decrease)                 | $(4,962)               

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|                                 | Loans Delinquent For:  |                 
|-------------------------------- | ---------------------- | ----------------
|                                 | 30-89 Days             | 90 Days and Over
|                                 | Number                 | Amount          
|                                 | (Dollars in Thousands)
|Real Estate:                     |                        |                 
|One- to four-family              | 12                     | $803            
|Commercial                       | 1                      | 63              
|Multi-family                     | ---                    | ---             
|Construction or      development | ---                    | --              
|Consumer                         | 1                      | 37              
|Commercial                       | 1                      | 11              
|Total                            | 15                     | $914            

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|                                                | December 31,          
|----------------------------------------------- | ----------------------
|                                                | 2000                  
|                                                | (Dollars in Thousands)
|Non-accruing loans:                             |                       
|One- to four-family                             | $  12                 
|Construction or development                     | 254                   
|Total                                           | 266                   
|                                                |                       
|Accruing loans delinquent more than 90 days:    |                       
|One- to four-family                             | 251                   
|Multi-family                                    | ---                   
|Commercial real estate                          | 251                   
|Construction or development                     | ---                   
|Consumer                                        | 6                     
|Commercial business                             | ---                   
|Total                                           | 508                   
|                                                |                       
|Total non-performing loans                      | $774                  
|Total as a percentage of gross loans receivable | 2.08%                 

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|                                                                                                           | At and For the Years

Ended December 31,
|---------------------------------------------------------------------------------------------------------- | ----------------------------------------
|                                                                                                           | 2000                                    
|                                                                                                           | (In Thousands)                          
|                                                                                                           |                                         
|Balance at beginning of period                                                                             | $549                                    
|                                                                                                           |                                         
|Charge-offs: One- to four-family                                                                           | ---                                     
|Total charge-offs                                                                                          | ---                                     
|                                                                                                           |                                         
|Recoveries:                                                                                                | 13                                      
|Net (charge-offs) recoveries                                                                               | 13                                      
|Additions charged (reductions credited) to operations                                                      | 30                                      
|Balance at end of period                                                                                   | $592                                    
|                                                                                                           |                                         
|Ratio of net charge-offs (recoveries) during the period to
    average loans outstanding during the period | (0.03)%                                 
|                                                                                                           |                                         
|Ratio of net charge-offs (recoveries) during the period to   average non-performing loans                  | (1.61)%                                 

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|                                                                       | December 31,               
|---------------------------------------------------------------------- | ---------------------------
|                                                                       | 2000                       
|                                                                       | Amount ofLoan LossAllowance
|                                                                       | (Dollars in Thousands)     
|                                                                       |                            
|One- to four-family                                                    | $  99                      
|Multi-family, commercial,   real estate, construction   or development | 93                         
|Consumer and commercial   business                                     | 1                          
|Unallocated                                                            | 399                        
|Total                                                                  | $592                       

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|                                                                     | December 31,          
|-------------------------------------------------------------------- | ----------------------
|                                                                     | 2000                  
|                                                                     | Book Value            
|                                                                     | (Dollars in Thousands)
|Investment securities:                                               |                       
|Mutual funds(1)                                                      | $11,261               
|Freddie Mac stock                                                    | 2,411                 
|U.S. agency securities                                               | 9,990                 
|Federal Home Loan Bank stock                                         | 366                   
|Other                                                                | 15                    
|Total investment securities and Federal Home         Loan Bank stock | $24,043               
|                                                                     |                       
|Mortgage-backed and related securities:                              |                       
|Collateralized mortgage obligations                                  | $12,919               
|Freddie Mac                                                          | 16                    
|Government National Mortgage Association                             | 2                     
|                                                                     | 12,937                
|Unamortized discounts, net                                           | (36)                  
|Total mortgage-backed securities                                     | $12,901               
|                                                                     |                       
|Other interest-earning investments:                                  |                       
|Money market mutual fund                                             | $     34              
|Interest-bearing deposits with banks                                 | 150                   
|Federal funds sold                                                   | 2,680                 
|Total                                                                | $2,864                

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|                                           | Due in          | December 31, 2000
BalanceOutstanding
|------------------------------------------ | --------------- | ------------------------------------
|                                           | 6 Monthsor Less | 6 Monthsto 1 Year                   
|                                           | (In Thousands) 
|U.S. agency securities                     | $1,000          | $---                                
|                                           |                 |                                     
|Collateralized mortgage    obligations     | ---             | ---                                 
|                                           |                 |                                     
|Freddie Mac                                | ---             | ---                                 
|                                           |                 |                                     
|Government National   Mortgage Association | ---             | 2                                   
|                                           |                 |                                     
|Total                                      | $1,000          | $     2                             
|                                           |                 |                                     
|Weighted average yield                     | 5.18%           | 6.50%                               

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|                            | Years Ended December 31,
|--------------------------- | ------------------------
|                            | 2000                    
|                            | (Dollars in Thousands)  
|                            |                         
|Opening balance             | $54,545                 
|Deposits                    | 39,053                  
|Withdrawals                 | (43,304)                
|Interest credited           | 1,900                   
|                            |                         
|Ending balance              | $52,194                 
|                            |                         
|Net increase (decrease)     | $ (2,351)               
|                            |                         
|Percent increase (decrease) | (4.31)%                 

|                                                   | December 31,          
|-------------------------------------------------- | ----------------------
|                                                   | 2000                  
|                                                   | Amount                
|                                                   | (Dollars in Thousands)
|                                                   |                       
|Transactions and Savings Deposits:                 |                       
|Passbook and statement savings accounts (2.50%)(1) | $18,402               
|NOW accounts (2.50%)(1)                            | 2,799                 
|Money market accounts (2.55%)(1)                   | 3,060                 
|                                                   |                       
|Total non-certificates                             | 24,261                
|                                                   |                       
|Certificates:                                      |                       
|4.00 -  5.99%                                      | 22,382                
|6.00 -  7.99%                                      | 5,551                 
|                                                   |                       
|Total certificates                                 | 27,933                
|Total deposits                                     | $52,194               

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|                                                 | 4.00- 5.99% | 6.00- 7.99% | Total   | Percentof Total
|------------------------------------------------ | ----------- | ----------- | ------- | ---------------
|                                                 |            
|Certificate accounts maturing in quarter ending: |             |             |         |                
|                                                 |             |             |         |                
|March 31, 2001                                   | $6,730      | $   862     | $7,592  | 27.18%         
|June 30, 2001                                    | 6,266       | 1,383       | 7,649   | 27.38          
|September 30, 2001                               | 3,854       | 1,094       | 4,948   | 17.72          
|December 31, 2001                                | 2,861       | 568         | 3,429   | 12.27          
|March 31, 2002                                   | 637         | 1,025       | 1,662   | 5.95           
|June 30, 2002                                    | 823         | 233         | 1,056   | 3.78           
|September 30, 2002                               | 110         | ---         | 110     | 0.39           
|December 31, 2002                                | 262         | ---         | 262     | 0.94           
|March 31, 2003                                   | 162         | 84          | 246     | 0.88           
|June 30, 2003                                    | 175         | 302         | 477     | 1.71           
|September 30, 2003                               | 259         | ---         | 259     | 0.93           
|December 31, 2003                                | 243         | ---         | 243     | 0.87           
|Thereafter                                       | ---         | ---         | ---     | ---            
|                                                 |             |             |         |                
|Total                                            | $22,382     | $5,551      | $27,933 | 100.00%        
|                                                 |             |             |         |                
|Percent of total                                 | 80.13%      | 19.87%      | 100.00% |                

|                                            | Maturity        |                 
|------------------------------------------- | --------------- | ----------------
|                                            | 3 Monthsor Less | Over3 to 6Months
|                                            | (In Thousands) 
|                                            |                 |                 
|Certificates of deposit less than $100,000  | $5,433          | $5,651          
|                                            |                 |                 
|Certificates of deposit of $100,000 or more | 2,159           | 1,998           
|                                            |                 |                 
|Total certificates of deposit               | $7,592          | $7,649          

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|Annual Report Section                                                                                         | Pages in Annual Report
|------------------------------------------------------------------------------------------------------------- | ----------------------
|Report of Independent Auditors                                                                                | 15                    
|                                                                                                              |                       
|Consolidated Statements of Financial Condition   as of December 31, 2000 and 1999                             | 16                    
|                                                                                                              |                       
|Consolidated Statements of Income for the Years   Ended December 31, 2000 and 1999                            | 17                    
|                                                                                                              |                       
|Consolidated Statements of Changes in Shareholders' Equity   
 for the Years Ended December 31, 2000 and 1999 | 18                    
|                                                                                                              |                       
|Consolidated Statements of Cash Flows for the Years   Ended December 31, 2000 and 1999                        | 19                    
|                                                                                                              |                       
|Notes to Consolidated Financial Statements                                                                    | 20-44                 

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|                       |  |     | FIRST NILES FINANCIAL, INC.                                                                                                                   
|---------------------- |  | --- | ----------------------------------------------------------------------------------------------------------------------------------------------
|                       |  |     |                                                                                                                                               
|Date:   March 30, 2001 |  | By: | /s/ WILLIAM L. STEPHENSWilliam L. Stephens   Chairman of the Board, President and   Chief Executive Officer   (Duly Authorized Representative)

|/s/ WILLIAM L. STEPHENS
William L. Stephens, Chairman of the Board,
President and Chief Executive Officer(Principal Executive Officer) |  | Date:      March 30, 2001
|-------------------------------------------------------------------------------------------------------------------------------------- |  | -------------------------
|/s/ GEORGE J. SWIFT
George J. Swift, Vice President and Secretary(Principal Financial and Operating Officer)                           |  | Date:      March 30, 2001
|/s/ P. JAMES KRAMER 
P. James Kramer, Director                                                                                         |  | Date:      March 30, 2001
|/s/ HORACE L. MCLEAN
Horace L. McLean, Director                                                                                        |  | Date:      March 30, 2001
|/s/ RALPH A. ZUZOLO, SR.
Ralph A. Zuzolo, Sr., Director                                                                                |  | Date:      March 30, 2001
|/s/ THOMAS G. MALEY
Thomas G. Maley, Controller(Principal Accounting Officer)                                                          |  | Date:      March 30, 2001

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|Exhibit
 Number | Document                                                                                                                                                                                                                                                                                                         
|--------------- | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|3               | The Certificate of Incorporation and Bylaws, filed on July 10, 1998 as Exhibits 3.1
and 3.2, respectively, to Registrant's Registration Statement on Form SB-2 (File
No. 333-58883), are incorporated by reference.                                                                                              
|4               | Registrant's Specimen Stock Certificate, filed on  July 10, 1998 as Exhibit 4 to
Registrant's Registration Statement on Form SB-2 (File No. 333-58883), is
incorporated by reference.                                                                                                                            
|10.1            | Employment Agreement between Registrants operating bank subsidiary and
William L. Stephens, George J. Swift and Lawrence Safarek filed as Exhibits 10.1,
10.2 and 10.3 to Registrant's Report on Form 10-KSB for the fiscal year ended
December 31, 1998 (File No. 0-24849), is incorporated herein by reference.
|10.2            | Registrant's 1999 Stock Option and Incentive Plan, filed on November 12, 1999 as
Appendix A to  Registrant's  Proxy Statement on Schedule 14A (File No.
0-24849), is incorporated herein by reference.                                                                                                           
|10.3            | Registrant's 1999 Recognition and Retention Plan filed on November 12, 1999 as
Appendix B to  Registrant's  Proxy Statement on Schedule 14A (File No.
000-24849), is incorporated herein by reference.                                                                                                           
|13              | Annual Report to Stockholders                                                                                                                                                                                                                                                                                    
|21              | Subsidiaries of the Registrant filed as Exhibit 21 to Registrant's Report on Form
10-KSB for the fiscal year ended December 31, 1998 (File No. 0-24849), is
incorporated herein by reference.                                                                                                                    
|23              | Consent of Accountants                                                                                                                                                                                                                                                                                           

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