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                     December 31, 2004
                               -------------------------------------------------

                                       OR

[ ]   TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE EXCHANGE ACT

For the transition period from ____________ to _______________

Commission File Number:             0-27916
                       -----------------------------------

                            FFD FINANCIAL CORPORATION
--------------------------------------------------------------------------------
        (Exact name of small business issuer as specified in its charter)

             Ohio                                        34-1921148
---------------------------------           -----------------------------------
(State or other jurisdiction of              (IRS Employer Identification No.)
incorporation or organization)

                   321 North Wooster Avenue, Dover, Ohio 44622
--------------------------------------------------------------------------------
                    (Address of principal executive offices)

                                 (330) 364-7777
--------------------------------------------------------------------------------
                          (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 issuer 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 CORPORATE ISSUERS

State the number of shares outstanding of each of the issuer's classes of common
equity, as of the latest practicable date: February 11, 2005 - 1,188,219 common
shares, no par value

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


                                       1
<PAGE>

                                      INDEX

                                                                           Page
                                                                           ----

PART I   -  FINANCIAL INFORMATION

            Consolidated Statements of Financial Condition                    3

            Consolidated Statements of Earnings                               4

            Consolidated Statements of Comprehensive Income                   5

            Consolidated Statements of Cash Flows                             6

            Notes to Consolidated Financial Statements                        8

            Management's Discussion and Analysis of
            Financial Condition and Results of
            Operations                                                       10

PART II  -  OTHER INFORMATION                                                15

SIGNATURES                                                                   17


                                       2
<PAGE>

                            FFD Financial Corporation

                 CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION

                        (In thousands, except share data)

<TABLE>
<CAPTION>
                                                                          December 31,        June 30,
           ASSETS                                                                 2004            2004
<S>                                                                          <C>             <C>
Cash and due from banks                                                      $   1,699       $   1,999
Interest-bearing deposits in other financial institutions                        7,399           8,821
                                                                             ---------       ---------
           Cash and cash equivalents                                             9,098          10,820

Investment securities designated as available for sale - at market               4,487           4,402
Mortgage-backed securities designated as available for sale - at market            538             630
Mortgage-backed securities held to maturity - at amortized cost,
  approximate market value of $281 and $411 as of December 31,
  2004 and June 30, 2004, respectively                                             273             395
Loans receivable - net                                                         119,072         114,288
Loans held for sale - at lower of cost or market                                    --             217
Office premises and equipment - at depreciated cost                              1,995           2,028
Stock in Federal Home Loan Bank - at cost                                        2,091           2,047
Accrued interest receivable                                                        394             381
Prepaid expenses and other assets                                                  141             275
Prepaid federal income taxes                                                       305             409
                                                                             ---------       ---------

           Total assets                                                      $ 138,394       $ 135,892
                                                                             =========       =========

           LIABILITIES AND SHAREHOLDERS' EQUITY

Deposits                                                                     $ 108,096       $ 105,446
Advances from the Federal Home Loan Bank                                        12,546          12,669
Accrued interest payable                                                           110              97
Other liabilities                                                                  499             719
Deferred federal income taxes                                                      235             223
                                                                             ---------       ---------
           Total liabilities                                                   121,486         119,154

Commitments                                                                         --              --

Shareholders' equity
  Preferred stock - authorized 1,000,000 shares without par
    value; no shares issued                                                         --              --
  Common stock - authorized 5,000,000 shares without par or
    stated value; 1,454,750 shares issued                                           --              --
  Additional paid-in capital                                                     7,968           7,910
  Retained earnings - restricted                                                12,503          12,385
  Accumulated comprehensive loss; unrealized losses on securities
    designated as available for sale, net of related tax benefits                   (7)            (66)
  Shares acquired by stock benefit plans                                          (334)           (444)
  Less 276,557 and 266,757 treasury shares at December 31, 2004 and
    June 30, 2004, respectively - at cost                                       (3,222)         (3,047)
                                                                             ---------       ---------
           Total shareholders' equity                                           16,908          16,738
                                                                             ---------       ---------

           Total liabilities and shareholders' equity                        $ 138,394       $ 135,892
                                                                             =========       =========
</TABLE>


                                       3
<PAGE>

                            FFD Financial Corporation

                       CONSOLIDATED STATEMENTS OF EARNINGS

                      (In thousands, except per share data)

<TABLE>
<CAPTION>
                                                                 For the six months      For the three months
                                                                 ended December 31,       ended December 31,
                                                                   2004         2003        2004        2003
<S>                                                             <C>           <C>         <C>         <C>
Interest income
  Loans                                                         $ 3,111       $3,063      $1,587      $1,532
  Mortgage-backed securities                                         19           33           9          15
  Investment securities, interest-bearing
    deposits and other                                              171          104          93          61
                                                                -------       ------      ------      ------
           Total interest income                                  3,301        3,200       1,689       1,608

Interest expense
  Deposits                                                          894          998         457         487
  Borrowings                                                        286          292         143         152
                                                                -------       ------      ------      ------
           Total interest expense                                 1,180        1,290         600         639
                                                                -------       ------      ------      ------

           Net interest income                                    2,121        1,910       1,089         969

Provision for losses on loans                                         4           --           4          --
                                                                -------       ------      ------      ------

           Net interest income after provision
             for losses on loans                                  2,117        1,910       1,085         969

Other income
  Gain on sale of loans                                              95          252          26          94
  Other operating                                                   223          109         128          91
                                                                -------       ------      ------      ------
           Total other income                                       318          361         154         185

General, administrative and other expense
  Employee compensation and benefits                                878          763         464         405
  Occupancy and equipment                                           184          188          92          97
  Franchise taxes                                                   103          101          48          48
  Data processing                                                   142          134          69          65
  Loss on sale of real estate acquired through foreclosure           --            7          --          --
  Other operating                                                   561          531         308         259
                                                                -------       ------      ------      ------
           Total general, administrative and other expense        1,868        1,724         981         874
                                                                -------       ------      ------      ------

           Earnings before income taxes                             567          547         258         280

Federal income taxes
  Current                                                           209          132          87          46
  Deferred                                                          (16)          54           1          49
                                                                -------       ------      ------      ------
           Total federal income taxes                               193          186          88          95
                                                                -------       ------      ------      ------

           NET EARNINGS                                         $   374       $  361      $  170      $  185
                                                                =======       ======      ======      ======

           EARNINGS PER SHARE
             Basic                                                 $.33         $.31        $.15        $.16
                                                                   ====         ====        ====        ====

             Diluted                                               $.32         $.30        $.15        $.15
                                                                   ====         ====        ====        ====
</TABLE>


                                       4
<PAGE>

                            FFD Financial Corporation

                 CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME

                                 (In thousands)

<TABLE>
<CAPTION>
                                                             For the six months    For the three months
                                                             ended December 31,     ended December 31,
                                                              2004        2003        2004       2003
<S>                                                          <C>         <C>         <C>         <C>
Net earnings                                                 $ 374       $ 361       $ 170       $185

Other comprehensive income, net of related tax effects:
  Unrealized holding gains (losses) on securities
    during the period, net of taxes (benefits) of $28,
    $(1), $(6), and $- during the respective periods            59          (2)        (12)        --
                                                             -----       -----       -----       ----

Comprehensive income                                         $ 433       $ 359       $ 158       $185
                                                             =====       =====       =====       ====

Accumulated comprehensive income (loss)                      $  (7)      $   6       $  (7)      $  6
                                                             =====       =====       =====       ====
</TABLE>


                                       5
<PAGE>

                            FFD Financial Corporation

                      CONSOLIDATED STATEMENTS OF CASH FLOWS

                      For the six months ended December 31,
                                 (In thousands)

<TABLE>
<CAPTION>
                                                                         2004           2003
<S>                                                                  <C>            <C>
Cash flows from operating activities:
  Net earnings for the period                                        $    374       $    361
  Adjustments to reconcile net earnings to net cash
  provided by (used in) operating activities:
    Amortization of discounts and premiums on loans,
      investments and mortgage-backed securities - net                      1              3
    Amortization of deferred loan origination costs                        24             15
    Depreciation and amortization                                          92             94
    Provision for losses on loans                                           4             --
    Amortization expense of stock benefit plans                           182            266
    Gain on sale of loans                                                 (30)           (10)
    Loans originated for sale in the secondary market                  (4,175)       (18,556)
    Proceeds from sale of loans in the secondary market                 4,422         20,333
    Proceeds from sale of loans to other financial institutions         1,068             --
    Loss on sale of real estate acquired through foreclosure               --              7
    Federal Home Loan Bank stock dividends                                (44)           (40)
    Increase (decrease) in cash due to changes in:
      Accrued interest receivable                                         (13)            45
      Prepaid expenses and other assets                                   134            111
      Accrued interest payable                                             13              5
      Other liabilities                                                  (220)          (468)
      Federal income taxes
        Current                                                           104            (13)
        Deferred                                                          (16)            54
                                                                     --------       --------
           Net cash provided by operating activities                    1,920          2,207

Cash flows provided by (used in) investing activities:
  Purchase of investment securities                                        --         (3,000)
  Principal repayments on mortgage-backed securities                      215            222
  Loan principal repayments                                            17,556         40,058
  Loan disbursements                                                  (23,436)       (38,191)
  Purchase of office premises and equipment                               (59)           (56)
                                                                     --------       --------
           Net cash used in investing activities                       (5,724)          (967)

Cash flows provided by (used in) financing activities:
  Net increase in deposit accounts                                      2,650            824
  Proceeds from Federal Home Loan Bank advances                         1,000          1,525
  Repayment of Federal Home Loan Bank advances                         (1,123)           (88)
  Proceeds from exercise of stock options                                  82             17
  Purchase of treasury shares                                            (271)          (147)
  Dividends on common stock                                              (256)          (335)
                                                                     --------       --------
           Net cash provided by financing activities                    2,082          1,796
                                                                     --------       --------

Net (decrease) increase in cash and cash equivalents                   (1,722)         3,036

Cash and cash equivalents at beginning of period                       10,820         12,243
                                                                     --------       --------

Cash and cash equivalents at end of period                           $  9,098       $ 15,279
                                                                     ========       ========
</TABLE>


                                       6
<PAGE>

                            FFD Financial Corporation

                CONSOLIDATED STATEMENTS OF CASH FLOWS (CONTINUED)

                      For the six months ended December 31,
                                 (In thousands)

<TABLE>
<CAPTION>
                                                                             2004         2003
<S>                                                                        <C>         <C>
Supplemental disclosure of cash flow information:
  Cash paid during the period for:
    Federal income taxes                                                   $  104      $   170
                                                                           ======      =======

    Interest on deposits and borrowings                                    $1,167      $ 1,285
                                                                           ======      =======

Supplemental disclosure of noncash investing activities:
  Unrealized gains (losses) on securities designated as available for
    sale, net of related tax effects                                       $   59      $    (2)
                                                                           ======      =======

  Recognition of mortgage servicing rights in accordance
    with SFAS No. 140                                                      $   65      $   242
                                                                           ======      =======
</TABLE>


                                       7
<PAGE>

                            FFD Financial Corporation

                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

      For the six- and three-month periods ended December 31, 2004 and 2003

1. Basis of Presentation
   ---------------------

The accompanying  unaudited  consolidated  financial statements were prepared in
accordance with the instructions for Form 10-QSB and, therefore,  do not include
information  or footnotes  necessary  for a complete  presentation  of financial
position,  results of operations  and cash flows in conformity  with  accounting
principles  generally  accepted in the United  States of  America.  Accordingly,
these financial  statements  should be read in conjunction with the Consolidated
Financial  Statements  and  Notes  thereto  of FFD  Financial  Corporation  (the
"Corporation")  included in the Annual  Report on Form 10-KSB for the year ended
June  30,  2004.  However,  in  the  opinion  of  management,   all  adjustments
(consisting of only normal  recurring  accruals)  which are necessary for a fair
presentation  of the financial  statements  have been  included.  The results of
operations for the six and three-month  periods ended December 31, 2004, are not
necessarily  indicative  of the  results  which may be  expected  for the entire
fiscal year.

2. Principles of Consolidation
   ---------------------------

The accompanying  consolidated  financial statements include the accounts of the
Corporation,  First  Federal  Community  Bank (the  "Bank")  and  Dover  Service
Corporation, a wholly owned subsidiary of the Bank. All significant intercompany
items have been eliminated.

3. Earnings Per Share
   ------------------

Basic  earnings  per share is computed  based upon the  weighted-average  common
shares   outstanding  during  the  period  less  shares  in  the  FFD  Financial
Corporation  Employee Stock Ownership Plan (the "ESOP") that are unallocated and
not committed to be released.  Weighted-average common shares deemed outstanding
give  effect to 26,339  and  39,531  unallocated  ESOP  shares  for the six- and
three-month  periods  ended  December 31, 2004 and 2003,  respectively.  Diluted
earnings per common share includes the dilutive  effect of additional  potential
common  shares  issuable  under  the   Corporation's   stock  option  plan.  The
computations are as follows:

<TABLE>
<CAPTION>
                                              For the six months ended       For the three months ended
                                                      December 31,                  December 31,
                                                    2004           2003           2004           2003
<S>                                            <C>            <C>            <C>            <C>
      Weighted-average common shares
        outstanding (basic)                    1,145,968      1,159,547      1,143,438      1,158,783
      Dilutive effect of assumed exercise
        of stock options                          26,392         40,174         27,083         41,454
                                               ---------      ---------      ---------      ---------
      Weighted-average common shares
        outstanding (diluted)                  1,172,360      1,199,721      1,170,521      1,200,237
                                               =========      =========      =========      =========
</TABLE>


                                       8
<PAGE>

                            FFD Financial Corporation

             NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)

      For the six- and three-month periods ended December 31, 2004 and 2003

4. Stock Option Plan
   -----------------

The FFD Financial  Corporation 1996 Stock Option and Incentive Plan (the "Plan")
provides for the issuance of 169,838  shares of authorized  but unissued  common
shares.

The  Corporation  accounts  for the  Plan  in  accordance  with  SFAS  No.  123,
"Accounting for  Stock-Based  Compensation,"  which contains a fair  value-based
method  for  valuing  stock-based  compensation  that  entities  may use,  which
measures  compensation  cost at the grant  date  based on the fair  value of the
award. Compensation is then recognized over the service period, which is usually
the vesting period. Alternatively,  SFAS No. 123 permits entities to continue to
account for stock  options  and  similar  equity  instruments  under  Accounting
Principles  Board  ("APB")  Opinion  No.  25,  "Accounting  for Stock  Issued to
Employees."  Entities  that  continue  to account  for stock  options  using APB
Opinion No. 25 are  required to make pro forma  disclosures  of net earnings and
earnings per share, as if the fair value-based  method of accounting  defined in
SFAS No. 123 had been applied.

The fair value of each option  grant is estimated on the date of grant using the
modified Black-Scholes options-pricing model with the following assumptions used
for grants in fiscal 2004 and 2003,  respectively:  dividend  yields of 3.0% and
2.8%; expected  volatility of 38.2% and 31.6%;  risk-free interest rates of 4.3%
and 4.1% and an expected life of ten years for all grants.

A summary of the status of the  Corporation's  stock  option plan as of December
31, 2004 and June 30, 2004 and 2003,  and changes  during the periods then ended
are presented below:

<TABLE>
<CAPTION>
                                           December 31,                                 June 30,
                                               2004                      2004                        2003
                                                   Weighted-                 Weighted-                   Weighted-
                                                    average                   average                     average
                                                    exercise                  exercise                   exercise
                                         Shares      price        Shares        price        Shares        price
<S>                                      <C>         <C>          <C>           <C>          <C>           <C>
Outstanding at beginning of period       89,998      $ 9.84       115,183       $ 9.47       104,385       $ 9.25
Granted                                      --          --         4,500        14.87        14,920        10.94
Exercised                                (8,945)       9.14       (28,365)        9.15        (4,122)        9.17
Forfeited                                    --          --        (1,320)        9.54            --           --
                                         ------      ------      --------       ------      --------       ------

Outstanding at end of period             81,053      $ 9.92        89,998       $ 9.84       115,183       $ 9.47
                                         ======      ======      ========       ======      ========       ======

Options exercisable at period-end        62,664      $ 9.92        68,755       $ 9.33        91,809       $ 9.22
                                         ======      ======      ========       ======      ========       ======
Weighted-average fair value of
  options granted during the period                     N/A                     $ 4.36                     $ 3.92
                                                     ======                     ======                     ======
</TABLE>

The following information applies to options outstanding at December 31, 2004:


Number outstanding                                                        65,776
Range of exercise prices                                            $8.38-$10.10
Number outstanding                                                        15,277
Range of exercise prices                                           $11.17-$14.88

Weighted-average exercise price                                            $9.92
Weighted-average remaining contractual life in years                   4.1 years


                                       9
<PAGE>

                            FFD Financial Corporation

           MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION
                            AND RESULTS OF OPERATIONS

Discussion  of  Financial  Condition  Changes from June 30, 2004 to December 31,
--------------------------------------------------------------------------------
2004
----

The Corporation's total assets at December 31, 2004, were $138.4 million, a $2.5
million, or 1.8%, increase over the total at June 30, 2004.

Cash and cash equivalents  totaled $9.1 million at December 31, 2004, a decrease
of $1.7  million,  or 15.9%,  from the total at June 30, 2004,  as liquid assets
were used to fund loan originations.  Investment securities totaled $4.5 million
at December 31, 2004, a $85,000,  or 1.9%,  increase  over the total at June 30,
2004.  Mortgage-backed  securities  totaled  $811,000 at December  31,  2004,  a
$214,000  or  20.9%,  decrease  compared  to the total at June 30,  2004,  which
resulted primarily from principal repayments totaling $215,000.

Loans  receivable,  including  loans held for sale,  totaled  $119.1  million at
December 31, 2004, an increase of $4.6 million,  or 4.0%, from the June 30, 2004
total.  Loan  disbursements  during  the  period  totaling  $27.6  million  were
partially  offset by principal  repayments of $17.6  million,  loans sold in the
secondary market of $4.4 million and loans sold to other financial  institutions
of $1.1  million.  During the  six-month  period ended  December 31, 2004,  loan
originations were comprised of $15.0 million of one- to four-family  residential
real  estate  loans,   $2.4  million  of  commercial   loans,  $8.0  million  of
nonresidential  real estate loans,  $203,000 of  multi-family  residential  real
estate loans and $2.0  million of consumer  loans.  Nonresidential  real estate,
multi-family  residential  real  estate and  commercial  lending  are  generally
considered  to  involve  a  higher  degree  of risk  than  one-  to  four-family
residential  real estate lending due to the  relatively  larger loan amounts and
the  effects of general  economic  conditions  on the  successful  operation  of
income-producing  properties and  businesses.  The Bank has endeavored to reduce
such risk by evaluating the credit history and past performance of the borrower,
the location of the real estate,  the quality of the  management  operating  the
property or business, the debt service ratio, the quality and characteristics of
the  income  stream  generated  by  the  property  or  business  and  appraisals
supporting the real estate or collateral valuation.

The allowance for loan losses totaled  $778,000 at December 31, 2004, a decrease
of $1,000 or .1%,  over the June 30, 2004 balance of $779,000,  and  represented
..65% and .67% of total  loans at each of  those  respective  dates.  The  Bank's
impaired and  nonperforming  loans totaled $732,000 at December 31, 2004, a 5.4%
decrease  from the June 30, 2004 total of  $774,000.  Approximately  $301,000 of
specific  reserves  have been  allocated to certain  impaired and  nonperforming
loans.  Although  management  believes  that the  allowance  for loan  losses at
December 31, 2004, is adequate based upon the available facts and circumstances,
there can be no assurance  that additions to the allowance will not be necessary
in future periods,  which could adversely  affect the  Corporation's  results of
operations.

Deposits  totaled $108.1 million at December 31, 2004, a $2.7 million,  or 2.5%,
increase  from total  deposits at June 30, 2004.  FHLB  advances  totaled  $12.5
million at December 31, 2004, a $123,000,  or 1.0%,  decrease  from the June 30,
2004 total.

Shareholders'  equity totaled $16.9 million at December 31, 2004, an increase of
$170,000,  or 1.0%,  over June 30, 2004.  The increase was due  primarily to net
earnings of $374,000,  amortization  of stock benefit plans  totaling  $182,000,
proceeds from the exercise of stock options of $82,000 and  unrealized  gains on
securities  designated  as available for sale of $59,000,  which were  partially
offset by dividends paid of $256,000 and share repurchases of $271,000. The Bank
is required  to meet  minimum  capital  standards  promulgated  by the Office of
Thrift  Supervision  ("OTS"),  and at December 31, 2004,  the Bank's  regulatory
capital exceeded the minimum capital requirements.


                                       10
<PAGE>

                            FFD Financial Corporation

           MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION
                      AND RESULTS OF OPERATIONS (CONTINUED)

Comparison  of Operating  Results for the Six-Month  Periods Ended  December 31,
--------------------------------------------------------------------------------
2004 and 2003
-------------

General

The  Corporation's  net  earnings  totaled  $374,000  for the six  months  ended
December 31,  2004,  an increase of $13,000,  or 3.6%,  from the net earnings of
$361,000 recorded in the comparable period in 2003. The increase in net earnings
resulted from an increase in net interest income $211,000,  or 11.0%,  which was
substantially  offset by a decrease  of $43,000  in other  operating  income and
increases of $144,000 in general administrative and other expenses and $7,000 in
the provision for federal income taxes.

Net Interest Income
-------------------

Total interest income increased by $101,000, or 3.2%, to a total of $3.3 million
for the six months ended  December  31,  2004,  compared to the six months ended
December 31, 2003.  Interest income on loans increased by $48,000,  or 1.6%, due
primarily to an increase of $2.3 million, or 2.0%, in the average loan portfolio
balance outstanding, which was partially offset by a two basis point decrease in
yield.  Interest income on mortgage-backed  securities  decreased by $14,000, or
42.4%,  due primarily to a $443,000,  or 32.6%,  decrease in the average balance
outstanding.  Interest  income on  investment  securities  and  interest-bearing
deposits  increased  by $67,000,  or 64.4%,  to a total of $171,000  for the six
months ended  December 31, 2004,  due primarily to a 140 basis point increase in
yield year to year,  which was  partially  offset by a $2.3  million,  or 15.9%,
decrease in the average balance outstanding.

Total  interest  expense  decreased  by  $110,000,  or 8.5%,  to a total of $1.2
million for the six months ended  December 31, 2004,  compared to the six months
ended December 31, 2003. Interest expense on deposits decreased by $104,000,  or
10.4%, for the six months ended December 31, 2004,  compared to the same quarter
in 2003,  due  primarily  to a 23 basis point  decrease  in the average  cost of
deposits,  to 1.68% for the 2004 six month period, which was partially offset by
a  $2.0  million,   or  1.9%,  increase  in  the  average  balance  of  deposits
outstanding. Interest expense on FHLB advances decreased by $6,000, or 2.1%, due
to a decrease of $2.0  million,  or 13.5%,  in the  average  balance of advances
outstanding,  which was  partially  offset by a 52 basis  point  increase in the
average cost of advances.

As a result of the foregoing  changes in interest  income and interest  expense,
net interest income  increased by $211,000,  or 11.0%,  for the six months ended
December 31, 2004, compared to the same period in 2003. The interest rate spread
amounted to 3.11% and 2.75% and the net interest  margin totaled 3.27% and 2.93%
for the six-month periods ended December 31, 2004 and 2003, respectively.

Provision for Losses on Loans
-----------------------------

A  provision  for  losses on loans is  charged  to  earnings  to bring the total
allowance for loan losses to a level considered  appropriate by management based
on historical loss experience,  the volume and type of lending  conducted by the
Bank, the status of past due principal and interest  payments,  general economic
conditions,  particularly as such  conditions  relate to the Bank's market area,
and other factors  related to the  collectibility  of the Bank's loan portfolio.
Based  upon  management's  analysis  of  the  allowance  for  loan  losses,  the
Corporation  recorded  a $4,000  provision  for  losses on loans  during the six
months  ended  December  31,  2004,  but  did not  record  a  provision  for the
comparable  period  in 2003.  There  can be no  assurance  that  the  loan  loss
allowance  will be  adequate  to cover  losses  on  nonperforming  assets in the
future, which can adversely affect the Corporation's results of operations.


                                       11
<PAGE>

                            FFD Financial Corporation

           MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION
                      AND RESULTS OF OPERATIONS (CONTINUED)

Comparison  of Operating  Results for the Six-Month  Periods Ended  December 31,
--------------------------------------------------------------------------------
2004 and 2003 (continued)
-------------

Other Income
------------

Other income  totaled  $318,000  for the six months  ended  December 31, 2004, a
decrease of $43,000,  or 11.9%,  from the 2003 total.  The decrease was due to a
decline of $157,000,  or 62.3%,  in gain on sale of loans,  which was  partially
offset by an increase of $114,000 in other operating  income quarter to quarter.
The decrease in gain on sale of loans was due primarily to the decrease in sales
volume quarter to quarter.  The decrease in sales volume is  attributable to the
decline in the number of  refinancings  from the comparable  period in 2003. The
increase in other  operating  income  consisted  primarily  of a decrease in the
amortization  of  mortgage  servicing  rights  and  increases  in  miscellaneous
operating income.

General, Administrative and Other Expense
-----------------------------------------

General,  administrative  and other  expense  totaled  $1.9  million for the six
months ended  December 31, 2004, an increase of $144,000,  or 8.4%,  compared to
the same  period in 2003.  The  increase in  general,  administrative  and other
expense includes increases of $115,000,  or 15.1%, in employee  compensation and
benefits,  $30,000, or 5.6%, in other operating expense,  $8,000 or 6.0% in data
processing and $2,000, or 2.0%, in franchise taxes,  which were partially offset
by a decrease of $4,000,  or 2.1%, in occupancy  and equipment  expenses and the
absence of the $7,000 loss on real estate  acquired  through  foreclosure in the
2003  period.  The  increase  in  employee  compensation  and  benefits  was due
primarily to increases in employee  compensation,  a one time severance expense,
and a decline in deferred loan origination costs related to the reduction in the
number of loans originated quarter to quarter.

Federal Income Taxes
--------------------

The Corporation  recorded a provision for federal income taxes totaling $193,000
for the six months ended December 31, 2004, an increase of $7,000, or 3.8%, over
the same period in 2003.  The increase  resulted  primarily  from a $20,000,  or
3.7%,  increase in earnings before taxes. The  Corporation's  effective tax rate
was 34.0% for each of the six months ended December 31, 2004 and 2003.

Comparison of Operating  Results for the Three-Month  Periods Ended December 31,
--------------------------------------------------------------------------------
2004 and 2003
-------------

General
-------

The  Corporation's  net  earnings  totaled  $170,000  for the three months ended
December  31,  2004,  a decrease of $15,000,  or 8.1%,  from the net earnings of
$185,000 recorded in the comparable period in 2003. The decrease in net earnings
resulted from increases of $107,000,  or 12.2%, in general,  administrative  and
other expenses and $4,000 in the provision for losses on loans and a decrease of
$31,000 in other operating income, which were partially offset by an increase of
$120,000 in net interest  income and a decrease of $7,000 in the  provision  for
federal income taxes.


                                       12
<PAGE>

                            FFD Financial Corporation

           MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION
                      AND RESULTS OF OPERATIONS (CONTINUED)

Comparison of Operating  Results for the Three-Month  Periods Ended December 31,
-------------------------------------------------------------------------------
2004 and 2003 (continued)
-------------

Net Interest Income
-------------------

Total interest income increased by $81,000, or 5.0 %, to a total of $1.7 million
for the three months ended December 31, 2004, compared to the three months ended
December 31, 2003.  Interest income on loans increased by $55,000,  or 3.6%, due
primarily to an increase of $4.1 million, or 3.6%, in the average loan portfolio
balance outstanding with no change in yield.  Interest income on mortgage-backed
securities decreased by $6,000, or 40.0%, due primarily to a $491,000, or 37.7%,
decrease in the  average  balance  outstanding.  Interest  income on  investment
securities,  interest-bearing deposits and other increased by $32,000, or 52.5%,
to a total of  $93,000  for the  three  months  ended  December  31,  2004,  due
primarily to a 187 basis point increase in yield,  which was partially offset by
a $4.8 million, or 30.3%, decrease in the average balance outstanding..

Total interest expense decreased by $39,000, or 6.1%, to a total of $600,000 for
the three  months ended  December  31, 2004,  compared to the three months ended
December 31, 2003.  Interest expense on deposits decreased by $30,000,  or 6.2%,
due primarily to a 15 basis point  decrease in the average cost of deposits,  to
1.71% for the 2004  quarter,  which was partially  offset by a $2.5 million,  or
2.4%, increase in the average balance of deposits  outstanding period to period.
Interest  expense  on FHLB  advances  decreased  by  $9,000,  or 5.9%,  due to a
reduction  of $2.8  million,  or  18.1%,  in the  average  balance  of  advances
outstanding,  which was  partially  offset by a 54 basis  point  increase in the
average cost of advances.

As a result of the foregoing  changes in interest  income and interest  expense,
net interest income increased by $120,000,  or 12.4%, for the three months ended
December 31, 2004, compared to the same period in 2003. The interest rate spread
amounted  to 3.20% and 2.77%,  and the net  interest  margin  totaled  3.36% and
2.96%,   for  the  three-month   periods  ended  December  31,  2004  and  2003,
respectively.

Provision for Losses on Loans
-----------------------------

The Corporation recorded a $4,000 provision for losses on loans during the three
months  ended  December  31,  2004,  but  did not  record  a  provision  for the
comparable  quarter  in 2003.  There  can be no  assurance  that  the loan  loss
allowance  will be  adequate  to cover  losses  on  nonperforming  assets in the
future, which can adversely affect the Corporation's results of operations.

Other Income
------------

Other income  totaled  $154,000 for the three months ended  December 31, 2004, a
decrease of $31,000,  or 16.8%,  from the 2003 total.  The decrease was due to a
decline of  $68,000,  or 72.3%,  in gain on sale of loans,  which was  partially
offset by an increase of $37,000 in other  operating  income quarter to quarter.
The decrease in gain on sale of loans was due primarily to the decrease in sales
volume  period to period.  The decrease in sales volume is  attributable  to the
decline in the number of  refinancings  from the comparable  period in 2003. The
increase in other  operating  income  consisted  primarily  of a decrease in the
amortization  of  mortgage  servicing  rights  and  increases  in  miscellaneous
operating income.


                                       13
<PAGE>

                            FFD Financial Corporation

           MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION
                      AND RESULTS OF OPERATIONS (CONTINUED)

Comparison of Operating  Results for the Three-Month  Periods Ended December 31,
--------------------------------------------------------------------------------
2004 and 2003  (continued)
------------

General, Administrative and Other Expense
-----------------------------------------

General,  administrative and other expense totaled $981,000 for the three months
ended December 31, 2004, an increase of $107,000, or 12.2%, compared to the same
period in 2003.  The  increase  in  general,  administrative  and other  expense
includes increases of $59,000, or 14.6%, in employee  compensation and benefits,
$49,000,  or 18.9%,  in other  operating  expense and $4,000,  or 6.2%,  in data
processing,  which were  partially  offset by a decrease of $5,000,  or 5.2%, in
occupancy  and equipment  expenses.  The increase in employee  compensation  and
benefits was due  primarily to  increases in employee  compensation,  a one time
severance  expense,  and a decline in deferred loan origination costs related to
the reduction in the number of loans originated quarter to quarter.

Federal Income Taxes
--------------------

The Corporation  recorded a provision for federal income taxes totaling  $88,000
for the three  months ended  December  31, 2004, a decrease of $7,000,  or 7.4%,
over the same period in 2003. The decrease resulted primarily from a $22,000, or
7.9%,  decrease in earnings before taxes. The Corporation's  effective tax rates
were 34.1% and 34.0% for the three  months  ended  December  31,  2004 and 2003,
respectively.

Subsequent Event
----------------

The   Corporation's   third-party  data  processor  is  Intrieve,   Incorporated
("Intrieve")  of  Cincinnati,  Ohio,  formerly  known as  Savings  and Loan Data
Corporation  ("SLDC").  Pursuant to the terms of the  original  data  processing
agreement  with SLDC, the Bank was required to purchase 2,000 shares of SLDC. At
the time of the  purchase  the Bank  could  not hold the  shares of SLDC and the
shares  were  purchased  by  the  Dover  Service  Corporation,  a  wholly  owned
subsidiary  of the Bank.  On February 1, 2005,  Intrieve  announced  that it had
entered into an agreement to be acquired by Harland Financial Solutions, Inc., a
wholly owned subsidiary of the John H. Harland Company. The agreement is subject
to approval by the Intrieve shareholders and the satisfaction of other terms and
conditions.  Pursuant  to the terms of the  transaction,  the  Corporation  will
recognize  an  approximate   $200,000  after-tax  gain  if  the  transaction  is
consummated.

ITEM 3: Controls and Procedures
        -----------------------

The  Corporation's  Chief  Executive  Officer and Chief  Financial  Officer have
evaluated the Corporation's disclosure controls and procedures (as defined under
Rules 13a-15 and 15d-15 of the  Securities  Exchange Act of 1934, as amended) as
of the end of the period covered by this report. Based upon that evaluation, the
Chief  Executive  Officer and Chief  Financial  Officer have  concluded that the
Corporation's  disclosure  controls and procedures are effective.  There were no
changes in the Corporation's internal controls which materially affected, or are
reasonably likely to materially effect, the Corporation's internal controls over
financial reporting.


                                       14
<PAGE>

                            FFD Financial Corporation

                                     PART II

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

          Not applicable

ITEM 2.   Unrestricted Sales of Equity Securities and use of Proceeds
          -----------------------------------------------------------

          (a)   None
          (b)   None
          (c)

<TABLE>
<CAPTION>
                                                                           (c)                 (d)
                                                                      Total number           Maximum
                                                                       of shares           number (or
                                        (a)                            (or units)       approximate dollar
                                       Total             (b)          purchased as      value) of shares
                                      number           Average       part of publicly   (or units) that may
                                     of shares       price paid        announced         yet be purchased
                                    (or units)       per share          plans or          under the plans
                 Period            purchased (1)      (or unit)       programs (1)         or programs
<S>                                   <C>              <C>                <C>              <C>
           October 1, 2004
           through
           October 31, 2004              --            $   --                --                --

           November 1, 2004
           through
           November 30, 2004          9,800             14.16             9,800            40,381

           December 1, 2004
           through
           December 31, 2004             --                --                --                --
                                      -----            ------            ------            ------

           Total                      9,800            $14.16             9,800            40,381
                                      =====            ======            ======            ======
</TABLE>

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

(1)   The  Corporation's  Board of  Directors  approved  the  repurchase  by the
      Corporation  of up to an aggregate of 59,126 of the  Corporation's  common
      shares  pursuant to a program  announced  June 10,  2004 (the  "Program").
      Unless  earlier  terminated  by the Board of  Directors,  the Program will
      expire when the  Corporation  has  repurchased  all shares  authorized for
      repurchase under the Program. The Corporation  repurchased an aggregate of
      9,800 of the  Corporation's  common  shares  pursuant to the Program.  The
      Corporation has no other publicly  announced  repurchase plans or programs
      and no  plans or  programs  expired  or were  terminated  in the  reported
      periods.

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

          Not applicable


                                       15
<PAGE>

                            FFD Financial Corporation

                            PART II (CONTINUED)

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

          On October 19, 2004, the Corporation held its Annual Meeting of
          Shareholders. All of the directors nominated were elected to terms
          expiring in 2005 by the following votes:

                                                For                  Withheld
                                                ---                  --------

          Richard A. Brinkman, Jr.            975,425                 18,640
          Stephen G. Clinton                  981,462                 12,603
          Leonard L. Gundy                    950,365                 43,700
          Enos L. Loader                      982,202                 11,863
          Robert D. Sensel                    988,062                  6,003

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

          None

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

           31.1       Chief Executive Officer certification pursuant to Section
                      302 of the Sarbanes-Oxley Act of 2002
           31.2       Chief Financial Officer certification pursuant to Section
                      302 of the Sarbanes-Oxley Act of 2002
           32.1       Chief Executive Officer certification pursuant to Section
                      906 of the Sarbanes-Oxley Act of 2002
           32.2       Chief Financial Officer certification pursuant to Section
                      906 of the Sarbanes-Oxley Act of 2002


                                       16
<PAGE>

                            FFD Financial Corporation

                                   SIGNATURES
                                   ----------

In accordance with the requirements of the Exchange Act, the registrant caused
this report to be signed on its behalf by the undersigned, thereunto duly
authorized.

                                 FFD FINANCIAL CORPORATION


Date:  February 14, 2005         By:
      ----------------------          ------------------------------------------
                                        Trent B. Troyer
                                        President and Chief Executive Officer


Date:  February 14, 2005         By:
      ----------------------          ------------------------------------------
                                        Robert R. Gerber
                                        Vice President, Treasurer and Chief
                                        Financial Officer


                                       17