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           March 31, 2001
                                ----------------------------------------------

                                       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)

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

Check whether the issuer filed all documents and reports required to be filed by
Section 12, 13 or 15(d) of the Exchange Act after the distribution of securities
under a plan confirmed by a court.

Yes [    ]                 No  [    ]

                      APPLICABLE ONLY TO CORPORATE ISSUERS

State the number of shares outstanding of each of the issuer's classes of common
equity, as of the latest practicable date: May 10, 2001 - 1,316,783 shares of
common stock

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




                               Page 1 of 16 pages

<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                                                                 16




























                                        2



<PAGE>


                            FFD Financial Corporation
<TABLE>
<CAPTION>

                 CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION

                        (In thousands, except share data)

                                                                                          March 31,            June 30,
         ASSETS                                                                                2001                2000
<S>                                                                                            <C>                 <C>
Cash and due from banks                                                                    $  1,605            $  1,442
Interest-bearing deposits in other financial institutions                                     7,409                 977
                                                                                            -------             -------
         Cash and cash equivalents                                                            9,014               2,419

Investment securities available for sale - at market                                          1,000               2,875
Mortgage-backed securities available for sale - at market                                     8,374               9,135
Mortgage-backed securities held to maturity - at amortized cost,
  approximate market value of $3,869 and $4,188 as of
  March 31, 2001 and June 30, 2000                                                            3,804               4,189
Loans receivable - net                                                                      105,012             102,118
Loans held for sale - at lower of cost or market                                                789                 821
Office premises and equipment - at depreciated cost                                           1,198               1,253
Federal Home Loan Bank stock - at cost                                                        1,754               1,652
Accrued interest receivable                                                                     483                 429
Prepaid expenses and other assets                                                               195                 181
Prepaid federal income taxes                                                                     -                   61
Deferred federal income taxes                                                                    -                   14
                                                                                            -------             -------

         Total assets                                                                      $131,623            $125,147
                                                                                            =======             =======

         LIABILITIES AND SHAREHOLDERS' EQUITY

Deposits                                                                                   $ 89,476            $ 77,987
Advances from the Federal Home Loan Bank                                                     24,822              30,412
Other borrowed money                                                                            225                  -
Accrued interest payable                                                                        152                 202
Other liabilities                                                                               318                 281
Accrued federal income taxes                                                                     33                  -
Deferred federal income taxes                                                                   176                  -
                                                                                            -------             -------
         Total liabilities                                                                  115,202             108,882

Shareholders' equity
  Preferred stock - authorized 1,000,000 shares without par
    value; no shares issued                                                                      -                   -
  Common shares - authorized 5,000,000 shares without par or
    stated value, 1,454,750 shares issued                                                        -                   -
  Additional paid-in capital                                                                  7,861               7,850
  Retained earnings - restricted                                                             10,806              10,288
  Accumulated comprehensive losses, unrealized losses
    on securities designated as available for sale,
    net of related tax effects                                                                   (2)               (335)
  Shares acquired by stock benefit plans                                                       (854)             (1,028)
  Less 137,967 and 42,367 shares of treasury stock - at cost                                 (1,390)               (510)
                                                                                            -------             -------
         Total shareholders' equity                                                          16,421              16,265
                                                                                            -------             -------

         Total liabilities and shareholders' equity                                        $131,623            $125,147
                                                                                            =======             =======
</TABLE>




                                        3


<PAGE>


                            FFD Financial Corporation
<TABLE>
<CAPTION>

                       CONSOLIDATED STATEMENTS OF EARNINGS

                      (In thousands, except per share data)

                                                                        For the nine months         For the three months
                                                                           ended March 31,              ended March 31,
                                                                         2001         2000            2001         2000
<S>                                                                       <C>         <C>             <C>           <C>
Interest income
  Loans                                                                $6,255       $5,119          $2,122       $1,814
  Mortgage-backed securities                                              661          706             214          230
  Investment securities, interest-bearing deposits and other              289          252              89           89
                                                                        -----        -----           -----        -----
         Total interest income                                          7,205        6,077           2,425        2,133

Interest expense
  Deposits                                                              2,933        2,321           1,014          793
  Borrowings                                                            1,256        1,128             352          439
                                                                        -----        -----           -----        -----
         Total interest expense                                         4,189        3,449           1,366        1,232
                                                                        -----        -----           -----        -----

         Net interest income                                            3,016        2,628           1,059          901

Provision for losses on loans                                             103           82              36           51
                                                                        -----        -----           -----        -----

         Net interest income after provision
           for losses on loans                                          2,913        2,546           1,023          850

Other income
  Gain on sale of loans                                                    53           19              30           13
  Other operating                                                         104          101              44           31
                                                                        -----        -----           -----        -----
         Total other income                                               157          120              74           44

General, administrative and other expense
  Employee compensation and benefits                                      829          804             288          260
  Occupancy and equipment                                                 165          171              58           56
  Federal deposit insurance premiums                                       14           22               4            4
  Franchise taxes                                                         154          200              56           63
  Data processing                                                         175          138              61           50
  Other operating                                                         489          389             153          130
                                                                        -----        -----           -----        -----
         Total general, administrative and other expense                1,826        1,724             620          563
                                                                        -----        -----          ------       ------

         Earnings before income taxes                                   1,244          942             477          331

Federal income taxes
  Current                                                                 400          280             142           78
  Deferred                                                                 18           32              19           30
                                                                        -----        -----           -----        -----
         Total federal income taxes                                       418          312             161          108
                                                                        -----        -----           -----        -----

         NET EARNINGS                                                  $  826       $  630          $  316       $  223
                                                                        =====        =====           =====        =====

         EARNINGS PER SHARE
           Basic                                                         $.64         $.47            $.25         $.17
                                                                          ===          ===             ===          ===

           Diluted                                                       $.64         $.46            $.25         $.16
                                                                          ===          ===             ===          ===
</TABLE>


                                        4


<PAGE>


                            FFD Financial Corporation
<TABLE>
<CAPTION>

                 CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME

                                 (In thousands)


                                                                      For the nine months           For the three months
                                                                         ended March 31,               ended March 31,
                                                                     2001           2000            2001           2000
<S>                                                                   <C>            <C>             <C>           <C>
Net earnings                                                       $  826          $ 630            $316          $ 223

Other comprehensive income (loss), net of tax:
  Unrealized holding gains (losses) on securities
    during the period, net of taxes (benefits) of $172,
    $(40), $20 and $(7) for the respective
    periods                                                           333            (77)             39            (14)
                                                                    -----           ----             ---           ----

Comprehensive income                                               $1,159          $ 553            $355          $ 209
                                                                    =====           ====             ===           ====

Accumulated comprehensive loss                                     $   (2)         $(293)           $ (2)         $(293)
                                                                    =====           ====             ===           ====

</TABLE>






























                                        5



<PAGE>


                            FFD Financial Corporation
<TABLE>
<CAPTION>

                      CONSOLIDATED STATEMENTS OF CASH FLOWS

                       For the nine months ended March 31,
                                 (In thousands)

                                                                                                 2001              2000
<S>                                                                                             <C>                 <C>
Cash flows from operating activities:
  Net earnings for the period                                                                 $  826            $   630
  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                                             15                38
    Amortization of deferred loan origination fees                                                 (3)              (25)
    Depreciation and amortization                                                                  88                97
    Provision for losses on loans                                                                 103                82
    Amortization expense of stock benefit plans                                                   185               255
    Gain on sale of loans                                                                         (17)               (4)
    Proceeds from sale of loans                                                                 4,528             1,846
    Loans originated for sale in the secondary market                                          (4,479)           (1,708)
    Loss on sale of real estate acquired through foreclosure                                        1                -
    Federal Home Loan Bank stock dividends                                                       (102)              (74)
    Increase (decrease) in cash due to changes in:
      Accrued interest receivable                                                                 (54)              (88)
      Prepaid expenses and other assets                                                           (14)               45
      Accrued interest payable                                                                    (50)               37
      Other liabilities                                                                            37                 2
      Federal income taxes
        Current                                                                                    94                54
        Deferred                                                                                   18                32
                                                                                               ------            ------
         Net cash provided by operating activities                                              1,176             1,219

Cash flows provided by (used in) investing activities:
  Proceeds from maturity of investment securities                                               2,000                -
  Principal repayments on mortgage-backed securities                                            1,511             1,898
  Proceeds from sale of real estate acquired through foreclosure                                  124                -
  Purchase of Federal Home Loan Bank stock                                                         -               (355)
  Loan principal repayments                                                                    16,180             6,564
  Loan disbursements                                                                          (19,299)          (20,587)
  Purchase of office premises and equipment                                                       (33)              (13)
                                                                                               ------            ------
         Net cash provided by (used in) investing activities                                      483           (12,493)
                                                                                               ------            ------

         Net cash provided by (used in) operating and investing
           activities (subtotal carried forward)                                                1,659           (11,274)
                                                                                               ------            --------
</TABLE>







                                        6


<PAGE>


                            FFD Financial Corporation
<TABLE>
<CAPTION>

                CONSOLIDATED STATEMENTS OF CASH FLOWS (CONTINUED)

                       For the nine months ended March 31,
                                 (In thousands)

                                                                                                 2001              2000
<S>                                                                                             <C>                <C>
         Net cash provided by (used in) operating and investing
           activities (subtotal brought forward)                                              $ 1,659          $(11,274)

Cash flows provided by (used in) financing activities:
  Net increase in deposit accounts                                                             11,489             5,229
  Proceeds from securities sold under agreements to repurchase                                     -                287
  Proceeds from Federal Home Loan Bank advances                                                 4,000            37,618
  Repayment of Federal Home Loan Bank advances                                                 (9,590)          (30,706)
  Proceeds from other borrowed money                                                              225                -
  Proceeds from exercise of stock options                                                          -                 26
  Purchase of treasury shares                                                                    (880)             (529)
  Dividends on common shares                                                                     (308)             (364)
                                                                                               ------           -------
         Net cash provided by financing activities                                              4,936            11,561
                                                                                               ------           -------

Net increase in cash and cash equivalents                                                       6,595               287

Cash and cash equivalents at beginning of period                                                2,419             3,011
                                                                                               ------           -------

Cash and cash equivalents at end of period                                                    $ 9,014          $  3,298
                                                                                               ======           =======


Supplemental disclosure of cash flow information:
  Cash paid during the period for:
    Federal income taxes                                                                      $   312          $    294
                                                                                               ======           =======

    Interest on deposits and borrowings                                                       $ 4,239          $  3,412
                                                                                               ======           =======

Supplemental disclosure of noncash investing activities:
  Unrealized gains (losses) on securities designated as available for
    sale, net of related tax effects                                                          $   333          $    (77)
                                                                                               ======           =======

  Recognition of mortgage servicing rights in accordance with
    SFAS No. 125                                                                              $    36          $     15
                                                                                               ======           =======

  Transfers from mortgage loans to real estate acquired through
    foreclosure                                                                               $   125          $     -
                                                                                               ======           =======
</TABLE>










                                        7



<PAGE>


                            FFD Financial Corporation

                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

       For the nine and three month periods ended March 31, 2001 and 2000


    1.   Basis of Presentation

     The accompanying  unaudited consolidated financial statements were prepared
     in accordance  with  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,  2000.  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 nine and three month
     periods ended March 31, 2001, 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 and First Federal Savings Bank of Dover (the "Savings Bank"
     or  "First  Federal").   All  significant   intercompany  items  have  been
     eliminated.

    3.   Effects of Recent Accounting Pronouncements

     In June 1998, the Financial  Accounting Standards Board (the "FASB") issued
     Statement of Financial  Accounting  Standards ("SFAS") No. 133, "Accounting
     for Derivative Instruments and Hedging Activities," which requires entities
     to recognize all derivatives in their financial statements as either assets
     or  liabilities  measured at fair value.  SFAS No. 133 also  specifies  new
     methods of accounting  for hedging  transactions,  prescribes the items and
     transactions that may be hedged,  and specifies detailed criteria to be met
     to qualify for hedge accounting.

     The  definition of a derivative  financial  instrument  is complex,  but in
     general,  it is an  instrument  with  one or more  underlyings,  such as an
     interest  rate or  foreign  exchange  rate,  that is  applied to a notional
     amount,  such  as an  amount  of  currency,  to  determine  the  settlement
     amount(s).  It generally requires no significant initial investment and can
     be settled net or by delivery  of an asset that is readily  convertible  to
     cash.  SFAS No. 133 applies to  derivatives  embedded  in other  contracts,
     unless the  underlying  of the embedded  derivative  is clearly and closely
     related to the host contract.










                                        8



<PAGE>


                            FFD Financial Corporation

             NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)

       For the nine and three month periods ended March 31, 2001 and 2000


    3.   Effects of Recent Accounting Pronouncements (continued)

     SFAS No. 133, as amended by SFAS No. 137,  is  effective  for fiscal  years
     beginning  after June 15,  2000.  On adoption,  entities  are  permitted to
     transfer  held-to-maturity  debt  securities to the  available-for-sale  or
     trading  category  without calling into question their intent to hold other
     debt securities to maturity in the future.  Management adopted SFAS No. 133
     effective  July 1,  2000,  as  required,  without  material  impact  on the
     Corporation's financial position or results of operations.

     In September 2000, the FASB issued SFAS No. 140,  "Accounting for Transfers
     and  Servicing of Financial  Assets and  Extinguishments  of  Liabilities,"
     which revises the standards for  accounting for  securitizations  and other
     transfers of financial assets and collateral. SFAS No. 140 requires certain
     disclosures,  but  carries  over  most of the  provisions  of SFAS No.  125
     without  reconsideration.  The  Statement is effective  for  transfers  and
     servicing of financial assets and extinguishments of liabilities  occurring
     after  March 31,  2001.  SFAS No.  140 is  effective  for  recognition  and
     reclassification   of   collateral   and  for   disclosures   relating   to
     securitization  transactions  and  collateral for fiscal years ending after
     December 15, 2000.  SFAS No. 140 is not expected to have a material  effect
     on the Corporation's financial position or results of operations.

    4.  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,  which gives effect to 79,035 unallocated ESOP shares, totaled
     1,293,119 and 1,270,704 for the nine- and  three-month  periods ended March
     31, 2001, respectively.  Weighted-average common shares deemed outstanding,
     which gives effect to 92,209 unallocated ESOP shares, totaled 1,345,170 and
     1,339,656  for the nine- and  three-month  periods  ended  March 31,  2000,
     respectively.

     Diluted  earnings per share is computed  taking into  consideration  common
     shares  outstanding and dilutive potential common shares to be issued under
     the Corporation's stock option plan.  Weighted-average common shares deemed
     outstanding  for purposes of computing  diluted  earnings per share totaled
     1,293,280 and 1,270,704 for the nine- and  three-month  periods ended March
     31, 2001,  respectively,  and  1,365,694  and  1,350,249  for the nine- and
     three-month periods ended March 31, 2000, respectively.  Incremental shares
     related  to  the  assumed   exercise  of  stock  options  included  in  the
     computation  of diluted  earnings per share totaled 161 for the nine- month
     period  ended  March 31,  2001,  and  20,524  and  10,593 for the nine- and
     three-month periods ended March 31, 2000, respectively.

     Options to  purchase  108,563  and  105,563  shares of common  stock with a
     respective   weighted-average  exercise  price  of  $9.22  and  $9.24  were
     outstanding  at March 31, 2001 but were  excluded from the  computation  of
     common share  equivalents  during the three and nine months ended March 31,
     2001,  respectively,  because their  exercise  prices were greater than the
     average market price of the common shares.



                                        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, 2000 to March 31, 2001

The Corporation's  total assets at March 31, 2001, amounted to $131.6 million, a
$6.5 million,  or 5.2%,  increase over the total at June 30, 2000. This increase
was funded  primarily  through  growth in deposits of $11.5  million,  which was
partially  offset by a $5.4 million  decrease in advances  from the Federal Home
Loan Bank ("FHLB") and other borrowed money.

Cash and cash  equivalents  and investment  securities  totaled $10.0 million at
March 31, 2001,  an increase of $4.7 million,  or 89.2%,  over the total at June
30, 2000.

Mortgage-backed  securities  totaled  $12.2  million at March 31,  2001,  a $1.1
million,  or 8.6%,  decrease  from the  total at June 30,  2000.  This  decrease
resulted primarily from principal repayments.

Loans receivable, including loans held for sale, totaled $105.8 million at March
31, 2001,  an increase of $2.9 million,  or 2.8%,  over the June 30, 2000 total.
Loan disbursements  during the period totaled $23.8 million,  and were partially
offset by principal  repayments of $16.2 million and loans sold in the secondary
market of $4.5 million.  Loans secured primarily by nonresidential  real estate,
which  amounted to $37.0 million at March 31, 2001 and $30.7 million at June 30,
2000, accounted for the growth in the loan portfolio. Nonresidential real estate
lending  is  generally  considered  to  involve  a higher  degree  of risk  than
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. The Savings 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  constructing  and
operating the property,  the debt service ratio, the quality and characteristics
of the income stream  generated by the property and  appraisals  supporting  the
property's valuation.

The  allowance for loan losses  totaled  $478,000 and $375,000 at March 31, 2001
and June 30, 2000,  which  represented  .45% and .36% of total loans and 473.27%
and 166.67% of  nonperforming  loans at those  respective  dates.  Nonperforming
loans  amounted to $101,000  and  $225,000 at March 31, 2001 and June 30,  2000,
respectively.  At March 31, 2001,  nonperforming loans consisted entirely of one
one-  to  four-family  residential  loan  which  was  on  a  nonaccrual  status.
Management  believes  this loan was  adequately  collateralized  and  expects no
material loss on this nonperforming  loan. Although management believes that its
allowance  for loan  losses  at March  31,  2001,  is  adequate  based  upon the
available facts and  circumstances,  there can be no assurance that additions to
such allowance will not be necessary in future  periods,  which could  adversely
affect the Corporation's results of operations.

Deposits  totaled $89.5 million at March 31, 2001, an $11.5  million,  or 14.7%,
increase over total deposits at June 30, 2000. The increase in deposits resulted
primarily  from  the  Savings  Bank  offering  competitive  rates on many of its
deposit  products,  including  certificates of deposit with maturities of one to
three years, and a new savings product. As a result, certificates of deposit and
savings  accounts  increased by approximately  $7.8 million,  or 17.8%, and $2.9
million,  or 37.4%,  respectively.  FHLB advances totaled $24.8 million at March
31, 2001, a $5.6 million,  or 18.4%,  decrease from June 30, 2000. Proceeds from
the  increase in deposits  were  primarily  used to fund the  repayment  of FHLB
advances and new loan originations.

The Savings Bank is required to meet minimum  capital  standards  promulgated by
the Office of Thrift Supervision  ("OTS"). At March 31, 2001, the Savings Bank's
regulatory capital was well in excess of such 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 Nine-Month  Periods Ended March 31, 2001
and 2000

General

The  Corporation's net earnings totaled $826,000 for the nine months ended March
31, 2001, an increase of $196,000,  or 31.1%,  over the net earnings of $630,000
recorded in the comparable period in 2000. The increase in net earnings resulted
primarily from an increase of $388,000 in net interest income and an increase of
$37,000 in other income,  which were partially  offset by an increase of $21,000
in the  provision  for losses on loans,  an  increase  of  $102,000  in general,
administrative  and other  expense and an increase of $106,000 in the  provision
for federal income taxes.

Net Interest Income

Total interest  income  increased by $1.1 million,  or 18.6%, to a total of $7.2
million for the nine months ended March 31,  2001,  compared to the $6.1 million
total for the nine-month  period ended March 31, 2000.  Interest income on loans
increased  by  $1.1  million,   or  22.2%,  due  primarily  to  an  increase  of
approximately  $10.1 million,  or 10.7%,  in the average loan portfolio  balance
outstanding,  coupled  with an  approximate  75 basis  point  increase in yield.
Interest income on mortgage-backed securities decreased by $45,000, or 6.4%, due
primarily to a decrease in the average balance  outstanding.  Interest income on
investment  securities and  interest-bearing  deposits increased by $37,000,  or
14.7%, due primarily to an approximate $1.4 million,  or 21.3%,  increase in the
weighted-average   outstanding  balance,   which  was  partially  offset  by  an
approximate 28 basis point decrease in the yield earned on such investments.

Interest  expense on deposits  increased  by  $612,000,  or 26.4%,  for the nine
months ended March 31, 2001,  compared to the same period in 2000, due primarily
to an  approximate  $9.1  million,  or 12.2%,  increase in the  average  deposit
portfolio  balance  outstanding,  coupled  with an  approximate  52 basis  point
increase in the average cost of deposits.

Interest expense on borrowings increased by $128,000, or 11.3%, due primarily to
an approximate 48 basis point increase in the cost of such funds and an increase
in average balance outstanding year to year.

As a result of the foregoing  changes in interest  income and interest  expense,
net interest income  increased by $388,000,  or 14.8%, for the nine months ended
March 31, 2001, compared to the same period in 2000.

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
Savings Bank,  the status of past due principal and interest  payments,  general
economic  conditions,  particularly  as such  conditions  relate to the  Savings
Bank's market area,  and other factors  related to the  collectibility  of First
Federal's loan portfolio.  As a result of such analysis,  management  recorded a
provision for losses on loans totaling  $103,000  during the  nine-month  period
ended March 31,  2001,  an increase of $21,000,  or 25.6%,  compared to the same
period in 2000.  The current  period  provision was  predicated  primarily  upon
growth in the portfolio of loans secured by  nonresidential  real estate.  There
can be no  assurance  that the loan loss  allowance  of the Savings Bank will be
adequate to cover losses on nonperforming assets in the future.

                                       11


<PAGE>


                            FFD Financial Corporation

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


Comparison of Operating Results for the Nine-Month  Periods Ended March 31, 2001
and 2000 (continued)

Other Income

Other income  totaled  $157,000  for the nine months  ended March 31,  2001,  an
increase  of  $37,000,  or 30.8%,  over the 2000  total.  The  increase  was due
primarily  to a $34,000,  or 178.9%,  increase  in gain on sale of loans year to
year.

General, Administrative and Other Expense

General,  administrative  and other  expense  totaled  $1.8 million for the nine
months ended March 31, 2001, an increase of $102,000,  or 5.9%,  compared to the
same period in 2000. The increase resulted primarily from a $100,000,  or 25.7%,
increase  in other  operating  expense,  a $37,000,  or 26.8%,  increase in data
processing expense and a $25,000, or 3.1%, increase in employee compensation and
benefits,  which were  partially  offset by a  $46,000,  or 23.0%,  decrease  in
franchise taxes. The increase in other operating expense included  approximately
$44,000 in fees paid for outsourcing of compliance and other consulting services
and  approximately  $19,000 in expense related to real estate  acquired  through
foreclosure.  The remaining $37,000 increase in other operating expense, as well
as the increase in data processing expense,  was comprised primarily of pro-rata
increases related to the Corporation's overall growth year to year. The increase
in employee  compensation  and  benefits  resulted  primarily  from normal merit
increases,  which was  partially  offset by a decrease in costs related to stock
benefit plans, due to fluctuations in the fair value of the Corporation's stock.
The decrease in franchise taxes was primarily  attributable to a decrease in the
tax rate year to year.

Federal Income Taxes

The Corporation  recorded a provision for federal income taxes totaling $418,000
for the nine months  ended March 31, 2001,  an increase of  $106,000,  or 34.0%,
over the same period in 2000. The increase  resulted  primarily from a $302,000,
or 32.1%,  increase in earnings before taxes. The effective tax rates were 33.6%
and 33.1% for the nine months ended March 31, 2001 and 2000, respectively.


Comparison of Operating Results for the Three-Month Periods Ended March 31, 2001
and 2000

General

The Corporation's net earnings totaled $316,000 for the three months ended March
31, 2001,  an increase of $93,000,  or 41.7%,  over the net earnings of $223,000
recorded in the comparable period in 2000. The increase in net earnings resulted
primarily  from an increase of $158,000 in net interest  income,  an increase of
$30,000 in other income and a $15,000  decrease in the  provision  for losses on
loans,  which were  partially  offset by an  increase  of  $57,000  in  general,
administrative and other expense and an increase of $53,000 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 March 31, 2001
and 2000 (continued)

Net Interest Income

Total  interest  income  increased  by  $292,000,  or 13.7%,  to a total of $2.4
million for the three months ended March 31, 2001,  compared to the $2.1 million
total for the three-month period ended March 31, 2000.  Interest income on loans
increased by $308,000,  or 17.0%,  due primarily to an increase of approximately
$5.8  million,  or 5.8%,  in the average  loan  portfolio  balance  outstanding,
coupled with an approximate 77 basis point increase in yield. Interest income on
mortgage-backed  securities  decreased by $16,000,  or 7.0%,  due primarily to a
decrease in the  average  balance  outstanding.  Interest  income on  investment
securities and interest-bearing  deposits remained unchanged at $89,000 for each
of the  three-month  periods ended March 31, 2001 and 2000,  as the  approximate
$2.3 million, or 35.4%, increase in the weighted-average outstanding balance was
offset by an  approximate  144 basis point  decrease in the yield earned on such
investments.

Interest  expense on deposits  increased  by $221,000,  or 27.9%,  for the three
months ended March 31, 2001,  compared to the same period in 2000, due primarily
to an  approximate  $12.2  million,  or 16.3%,  increase in the average  deposit
portfolio  balance  outstanding,  coupled  with an  approximate  42 basis  point
increase in the average cost of deposits.

Interest  expense  on  borrowings  decreased  by  $87,000,  or 19.8%,  due to an
approximate $6.1 million, or 19.6%,  decrease in the average balance of advances
outstanding.

As a result of the foregoing  changes in interest  income and interest  expense,
net interest income increased by $158,000,  or 17.5%, for the three months ended
March 31, 2001, compared to the same period in 2000.

Provision for Losses on Loans

As a result of an analysis of the Savings Bank's historical loss experience, the
volume and type of lending conducted by the Savings Bank, the status of past due
principal and interest payments,  general economic  conditions,  particularly as
such  conditions  relate to the Savings  Bank's  market area,  and other factors
related to the  collectibility  of First  Federal's loan  portfolio,  management
recorded a provision for losses on loans totaling $36,000 during the three-month
period ended March 31, 2001,  a decrease of $15,000,  or 29.4%,  compared to the
same period in 2000. The current quarter provision was predicated primarily upon
growth in the portfolio of loans secured by  nonresidential  real estate.  There
can be no  assurance  that the loan loss  allowance  of the Savings Bank will be
adequate to cover losses on nonperforming assets in the future.











                                       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 March 31, 2001
and 2000 (continued)

Other Income

Other income  totaled  $74,000 for the three  months  ended March 31,  2001,  an
increase  of  $30,000,  or 68.2%,  over the 2000  total.  The  increase  was due
primarily to a $17,000  increase in gain on sale of loans year to year,  coupled
with a $13,000, or 41.9%, increase in other operating income.

General, Administrative and Other Expense

General,  administrative and other expense totaled $620,000 for the three months
ended March 31,  2001,  an increase of $57,000,  or 10.1%,  compared to the same
period in 2000.  The  increase  in  general,  administrative  and other  expense
includes  an  increase  of  $28,000,  or 10.8%,  in  employee  compensation  and
benefits,  a $23,000,  or 17.7%,  increase  in other  operating  expense  and an
$11,000,  or 22.0%,  increase in data processing  expense,  which were partially
offset by a $7,000,  or 11.1%,  decrease in  franchise  taxes.  The  decrease in
franchise  taxes was primarily  attributable  to a decrease in tax rates year to
year. The increase in employee compensation and benefits resulted primarily from
normal merit increases coupled with the hiring of additional  staff,  which were
partially  offset by a decrease in costs related to stock benefit plans,  due to
fluctuations in the fair value of the Corporation's stock. The increase in other
operating expense includes $8,000 in fees paid for outsourcing of compliance and
other  consulting  services,  $6,000 in expenses related to real estate acquired
through  foreclosure.  The remaining $9,000 increase in other operating expense,
as well as the increase in data processing  expense,  was comprised primarily of
pro-rata increases related to the Corporation's growth year to year.

Federal Income Taxes

The Corporation  recorded a provision for federal income taxes totaling $161,000
for the three  months ended March 31,  2001,  an increase of $53,000,  or 49.1%,
over the same period in 2000. The increase  resulted  primarily from a $146,000,
or 44.1%,  increase in earnings before taxes. The effective tax rates were 33.8%
and 32.6% for the three months ended March 31, 2001 and 2000, respectively.


Quantitative and Qualitative Disclosures About Market Risk

There has been no  material  change in the  Corporation's  market risk since the
Corporation's  Form 10-K filed with the Securities  and Exchange  Commission for
the fiscal year ended June 30, 2000.









                                       14


<PAGE>


                            FFD Financial Corporation

                                     PART II


ITEM 1.  Legal Proceedings

         Not applicable


ITEM 2.  Changes in Securities and Use of Proceeds

         Not applicable


ITEM 3.  Defaults Upon Senior Securities

         Not applicable


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

         None

ITEM 5.  Other Information

         None

ITEM 6.  Exhibits and Reports on Form 8-K

         (a)      Exhibits:                          None.


         (b)      Reports on Form 8-K:               None.




















                                       15


<PAGE>



                            FFD Financial Corporation

                                   SIGNATURES


Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.





Date:    May 14, 2001                       By:  /s/Trent Troyer
       -----------------------                   ---------------------------
                                                   Trent Troyer
                                                   President





Date:    May 14, 2001                       By:  /s/Robert R. Gerber
       -----------------------                   ---------------------------
                                                   Robert R. Gerber
                                                   Chief Financial Officer






























                                       16