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, 2000
                                -----------------------------------------------

                                       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:  February 9, 2001 - 1,368,783 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)

                                                                                       December 31,            June 30,
         ASSETS                                                                                2000                2000
<S>                                                                                          <C>                   <C>
Cash and due from banks                                                                    $  1,737            $  1,442
Interest-bearing deposits in other financial institutions                                     2,643                 977
                                                                                            -------             -------
         Cash and cash equivalents                                                            4,380               2,419

Investment securities available for sale - at market                                          2,976               2,875
Mortgage-backed securities available for sale - at market                                     8,650               9,135
Mortgage-backed securities held to maturity - at amortized cost,
  approximate market value of $3,895 and $4,188 as of
  December 31, 2000 and June 30, 2000                                                         3,850               4,189
Loans receivable - net                                                                      103,459             102,118
Loans held for sale - at lower of cost or market                                                585                 821
Office premises and equipment - at depreciated cost                                           1,210               1,253
Real estate acquired through foreclosure                                                        125                  -
Federal Home Loan Bank stock - at cost                                                        1,723               1,652
Accrued interest receivable                                                                     449                 429
Prepaid expenses and other assets                                                                73                 181
Prepaid federal income taxes                                                                     78                  61
Deferred federal income taxes                                                                    -                   14
                                                                                            -------             -------

         Total assets                                                                      $127,558            $125,147
                                                                                            =======             =======

         LIABILITIES AND SHAREHOLDERS' EQUITY

Deposits                                                                                   $ 85,325            $ 77,987
Advances from the Federal Home Loan Bank                                                     24,849              30,412
Accrued interest payable                                                                        182                 202
Other liabilities                                                                               429                 281
Deferred federal income taxes                                                                   137                  -
                                                                                            -------             -------
         Total liabilities                                                                  110,922             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                                                             10,613              10,288
  Accumulated comprehensive losses, unrealized losses
    on securities designated as available for sale,
    net of related tax effects                                                                  (41)               (335)
  Shares acquired by stock benefit plans                                                       (864)             (1,028)
  Less 85,967 and 42,367 shares of treasury stock - at cost                                    (933)               (510)
                                                                                            -------             -------
         Total shareholders' equity                                                          16,636              16,265
                                                                                            -------             -------

         Total liabilities and shareholders' equity                                        $127,558            $125,147
                                                                                            =======             =======
</TABLE>


                                        3


<PAGE>


                            FFD Financial Corporation
<TABLE>
<CAPTION>

                       CONSOLIDATED STATEMENTS OF EARNINGS

                        (In thousands, except share data)

                                                                      For the six months            For the three months
                                                                       ended December 31,             ended December 31,
                                                                       2000         1999              2000         1999
<S>                                                                    <C>         <C>                <C>         <C>
Interest income
  Loans                                                              $4,133       $3,305            $2,112       $1,708
  Mortgage-backed securities                                            447          476               221          229
  Investment securities, interest-bearing
    deposits and other                                                  200          163               101           85
                                                                      -----        -----             -----        -----
         Total interest income                                        4,780        3,944             2,434        2,022

Interest expense
  Deposits                                                            1,919        1,528             1,003          766
  Borrowings                                                            904          689               433          387
                                                                      -----        -----             -----        -----
         Total interest expense                                       2,823        2,217             1,436        1,153
                                                                      -----        -----             -----        -----

         Net interest income                                          1,957        1,727               998          869

Provision for losses on loans                                            67           31                42           22
                                                                      -----        -----             -----        -----

         Net interest income after provision
           for losses on loans                                        1,890        1,696               956          847

Other income
  Gain on sale of loans                                                  23           15                30            8
  Other operating                                                        60           61                14           30
                                                                      -----        -----             -----        -----
         Total other income                                              83           76                44           38

General, administrative and other expense
  Employee compensation and benefits                                    541          544               290          289
  Occupancy and equipment                                               107          115                53           57
  Federal deposit insurance premiums                                     10           18                 4            8
  Franchise taxes                                                        98          137                43           69
  Data processing                                                       114           88                56           46
  Other operating                                                       336          259               181          110
                                                                      -----        -----             -----        -----
         Total general, administrative and other expense              1,206        1,161               627          579
                                                                      -----        -----             -----        -----

         Earnings before income taxes                                   767          611               373          306

Federal income taxes
  Current                                                               258           202               135         120
  Deferred                                                               (1)           2               (10)         (20)
                                                                      -----        -----             -----        -----
         Total federal income taxes                                     257          204               125          100
                                                                      -----        -----             -----        -----

         NET EARNINGS                                                $  510       $  407            $  248       $  206
                                                                      =====        =====             =====        =====

         EARNINGS PER SHARE
           Basic                                                       $.39         $.30              $.19         $.15
                                                                        ===          ===               ===          ===

           Diluted                                                     $.39         $.30              $.19         $.15
                                                                        ===          ===               ===          ===
</TABLE>

                                        4


<PAGE>


                            FFD Financial Corporation
<TABLE>
<CAPTION>

                 CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME

                                 (In thousands)


                                                                     For the six months             For the three months
                                                                      ended December 31,              ended December 31,
                                                                     2000           1999            2000           1999
<S>                                                                   <C>            <C>            <C>            <C>
Net earnings                                                         $510          $ 407            $248          $ 206

Other comprehensive income (loss), net of tax:
  Unrealized holding gains (losses) on securities
    during the period, net of tax (benefits) of $151,
    $(32), $93 and $(14) during the respective periods                294            (63)            180            (28)
                                                                      ---           ----             ---           ----

Comprehensive income                                                 $804          $ 344            $428          $ 178
                                                                      ===           ====             ===           ====

Accumulated comprehensive losses                                     $(41)         $(279)           $(41)         $(279)
                                                                      ===           ====             ===           ====

</TABLE>


































                                        5



<PAGE>


                            FFD Financial Corporation
<TABLE>
<CAPTION>

                      CONSOLIDATED STATEMENTS OF CASH FLOWS

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

                                                                                                 2000              1999
<S>                                                                                               <C>               <C>
Cash flows from operating activities:
  Net earnings for the period                                                                 $   510           $   407
  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                                              7                25
    Amortization of deferred loan origination (fees) costs                                          1               (18)
    Depreciation and amortization                                                                  58                62
    Provision for losses on loans                                                                  67                31
    Amortization expense of stock benefit plans                                                   175               245
    Gain on sale of loans                                                                          (8)               (1)
    Loans originated for sale in the secondary market                                          (1,678)           (1,278)
    Proceeds from sale of loans                                                                 1,922             1,381
    Federal Home Loan Bank stock dividends                                                        (71)              (47)
    Increase (decrease) in cash due to changes in:
      Accrued interest receivable                                                                 (20)              (49)
      Prepaid expenses and other assets                                                           108               141
      Accrued interest payable                                                                    (20)               37
      Other liabilities                                                                           148               (69)
      Federal income taxes
        Current                                                                                   (17)               21
        Deferred                                                                                   (1)                2
                                                                                               ------            ------
         Net cash provided by operating activities                                              1,181               890

Cash flows provided by (used in) investing activities:
  Principal repayments on mortgage-backed securities                                            1,162             1,565
  Loan principal repayments                                                                     9,945             4,738
  Loan disbursements                                                                          (11,479)          (14,564)
  Purchase of stock in Federal Home Loan Bank                                                      -               (355)
  Purchase of office premises and equipment                                                       (15)               (6)
                                                                                               ------            ------
         Net cash used in investing activities                                                   (387)           (8,622)

Cash flows provided by (used in) financing activities:
  Net increase in deposit accounts                                                              7,338             1,066
  Proceeds from Federal Home Loan Bank advances                                                    -             30,118
  Repayment of Federal Home Loan Bank advances                                                 (5,563)          (22,189)
  Proceeds from securities sold under agreements to repurchase                                     -                186
  Proceeds from exercise of stock options                                                          -                 26
  Purchase of treasury shares                                                                    (423)             (529)
  Dividends on common stock                                                                      (185)             (244)
                                                                                               ------            ------
         Net cash provided by financing activities                                              1,167             8,434
                                                                                               ------            ------

Net increase in cash and cash equivalents                                                       1,961               702
Cash and cash equivalents at beginning of period                                                2,419             3,011
                                                                                               ------            ------

Cash and cash equivalents at end of period                                                    $ 4,380           $ 3,713
                                                                                               ======            ======
</TABLE>





                                        6



<PAGE>


                            FFD Financial Corporation
<TABLE>
<CAPTION>

                CONSOLIDATED STATEMENTS OF CASH FLOWS (CONTINUED)

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

                                                                                                 2000              1999
<S>                                                                                               <C>              <C>
Supplemental  disclosure of cash flow  information:
  Cash paid during the period for:
    Federal income taxes                                                                       $  280            $  248
                                                                                                =====             =====

    Interest on deposits and borrowings                                                        $2,843            $2,180
                                                                                                =====             =====

Supplemental disclosure of noncash investing activities:
  Unrealized gains (losses) on securities designated as available for
    sale, net of related tax effects                                                           $  294            $  (63)
                                                                                                =====             =====

  Recognition of mortgage servicing rights in accordance
    with SFAS No. 125                                                                          $   15            $    5
                                                                                                =====             =====

  Transfers from mortgage loans to real estate acquired through foreclosure                    $  125            $   -
                                                                                                =====             =====

</TABLE>





























                                        7


<PAGE>


                            FFD Financial Corporation

                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

      For the six and three month periods ended December 31, 2000 and 1999


    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
    generally  accepted  accounting  principles.  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 six and three month periods ended December 31,
    2000,  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 six and three month periods ended December 31, 2000 and 1999


    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
    1,304,084 and  1,294,678 for the six and three month periods ended  December
    31, 2000,  respectively.  Weighted-average common shares deemed outstanding,
    which gives effect to 92,209 unallocated ESOP shares,  totaled 1,347,897 and
    1,329,068  for the six and three month  periods  ended  December  31,  1999,
    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
    1,304,326 and  1,294,773 for the six and three month periods ended  December
    31, 2000,  and  1,367,278  and 1,339,342 for the six and three month periods
    ended  December 31, 1999,  respectively.  Incremental  shares related to the
    assumed  exercise of stock options  included in the  calculation  of diluted
    earnings  per share  totaled 242 and 95 for the six and three month  periods
    ended  December 31, 2000,  and 19,381 and 10,274 for the six and three month
    periods ended December 31, 1999, respectively.









                                        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 December 31,
2000

The Corporation's total assets at December 31, 2000, amounted to $127.6 million,
a $2.4 million, or 1.9%, increase over the total at June 30, 2000. This increase
was funded  primarily  through growth in deposits of $7.3 million and a $371,000
increase in shareholders'  equity, which were partially offset by a $5.6 million
decrease in advances from the Federal Home Loan Bank ("FHLB").

Cash and cash  equivalents  and  investment  securities  totaled $7.4 million at
December 31, 2000, an increase of $2.1 million, or 38.9%, over the total at June
30, 2000.

Mortgage-backed  securities  totaled  $12.5  million at December  31,  2000,  an
$824,000,  or 6.2%,  decrease  from the total at June 30,  2000.  This  decrease
resulted primarily from principal repayments.

Loans  receivable,  including  loans held for sale,  totaled  $104.0  million at
December 31, 2000, an increase of $1.1 million,  or 1.1%, over the June 30, 2000
total.  Loan  disbursements  during the period totaled $13.2  million,  and were
partially  offset by principal  repayments of $9.9 million and loans sold in the
secondary market of $1.9 million. Loans secured primarily by nonresidential real
estate,  which  amounted to $33.9 million at December 31, 2000 and $30.7 million
at June 30,  2000,  accounted  for  most of 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 $442,000 and $375,000 at December 31, 2000
and June 30, 2000,  which  represented  .42% and .36% of total loans and 437.62%
and 166.67% of  nonperforming  loans at those  respective  dates.  Nonperforming
loans amounted to $101,000 and $225,000 at December 31, 2000, and June 30, 2000,
respectively. Although management believes that its allowance for loan losses at
December 31, 2000, 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 $85.3  million at December 31, 2000, a $7.3 million,  or 9.4%,
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  "premier  savings"  accounts.  As a result,  certificates  of
deposit and premier savings accounts increased  approximately  $4.5 million,  or
10.2%,  and $2.2 million,  or 26.9%,  respectively.  FHLB advances totaled $24.8
million at December 31, 2000, a $5.6 million,  or 18.3%,  decrease from June 30,
2000.  Proceeds  from the increase in deposits were  primarily  used to fund the
repayment of FHLB advances and loan originations.

The Savings Bank is required to meet minimum  capital  standards  promulgated by
the Office of Thrift  Supervision  ("OTS").  At December 31,  2000,  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 Six Month  Periods  Ended  December 31,
2000 and 1999

General

The  Corporation's  net  earnings  totaled  $510,000  for the six  months  ended
December 31, 2000, an increase of $103,000,  or 25.3%,  over the net earnings of
$407,000 recorded in the comparable period in 1999. The increase in net earnings
resulted  primarily  from an increase of $230,000 in net interest  income and an
increase of $7,000 in other income,  which were partially  offset by an increase
of  $36,000 in the  provision  for losses on loans,  an  increase  of $45,000 in
general,  administrative  and other  expense  and an  increase of $53,000 in the
provision for federal income taxes.

Net Interest Income

Total  interest  income  increased  by  $836,000,  or 21.2%,  to a total of $4.8
million for the six months ended December 31, 2000, compared to the $3.9 million
total for the six month period ended December 31, 1999. Interest income on loans
increased by $828,000,  or 25.1%,  due primarily to an increase of approximately
$11.3  million,  or 12.2%,  in the average loan portfolio  balance  outstanding,
coupled  with  an  82  basis  point  increase  in  yield.   Interest  income  on
mortgage-backed  securities  decreased by $29,000,  or 6.1%,  due primarily to a
decrease in the  average  balance  outstanding.  Interest  income on  investment
securities and  interest-bearing  deposits  increased by $37,000,  or 22.7%, due
primarily to a $383,000,  or 6.1%, increase in the weighted-average  outstanding
balance,  coupled  with an 81 basis point  increase in the yield  earned on such
investments.

Interest expense on deposits increased by $391,000, or 25.6%, for the six months
ended  December 31, 2000,  compared to the same period in 1999, due primarily to
an approximate $9.1 million, or 12.5%, increase in the average deposit portfolio
balance outstanding,  coupled with a 49 basis point increase in the average cost
of deposits.

Interest expense on borrowings increased by $215,000, or 31.2%, due primarily to
an  approximate  146  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 $230,000,  or 13.3%,  for the six months ended
December 31, 2000, compared to the same period in 1999.

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 $67,000 during the six month period ended
December  31,  2000,  an increase of  $36,000,  or 116.1%,  compared to the same
period in 1999.  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 Six Month  Periods  Ended  December 31,
2000 and 1999 (continued)

Other Income

Other  income  totaled  $83,000 for the six months ended  December 31, 2000,  an
increase of $7,000, or 9.2%, over the 1999 total. The increase was due primarily
to an $8,000, or 53.3%, increase in gain on sale of loans year to year.

General, Administrative and Other Expense

General,  administrative  and other  expense  totaled  $1.2  million for the six
months ended December 31, 2000, an increase of $45,000, or 3.9%, compared to the
same period in 1999. The increase resulted  primarily from a $77,000,  or 29.7%,
increase in other operating  expense and a $26,000,  or 29.5%,  increase in data
processing expense, which were partially offset by a $39,000, or 28.5%, decrease
in  franchise   taxes.   The  increase  in  other  operating   expense  included
approximately  $36,000  in fees paid for  outsourcing  of  compliance  and other
consulting services and approximately  $13,000 in expense related to real estate
acquired through foreclosure.  The remaining $28,000 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  decrease  in  franchise  taxes was  primarily  attributable  to a
decrease in tax rates year to year.

Federal Income Taxes

The Corporation  recorded a provision for federal income taxes totaling $257,000
for the six months ended  December 31, 2000,  an increase of $53,000,  or 26.0%,
over the same period in 1999. The increase  resulted  primarily from a $156,000,
or 25.5%,  increase in earnings before taxes. The effective tax rates were 33.5%
and 33.4% for the six months ended December 31, 2000 and 1999, respectively.


Comparison of Operating  Results for the Three Month Periods Ended  December 31,
2000 and 1999

General

The  Corporation's  net  earnings  totaled  $248,000  for the three months ended
December 31, 2000,  an increase of $42,000,  or 20.4%,  over the net earnings of
$206,000 recorded in the comparable period in 1999. The increase in net earnings
resulted  primarily  from an increase of $129,000 in net interest  income and an
increase of $6,000 in other income,  which were partially  offset by an increase
of  $20,000 in the  provision  for losses on loans,  an  increase  of $48,000 in
general,  administrative  and other  expense  and an  increase of $25,000 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,
2000 and 1999 (continued)


Net Interest Income

Total  interest  income  increased  by  $412,000,  or 20.4%,  to a total of $2.4
million for the three  months  ended  December  31,  2000,  compared to the $2.0
million  total for the three month  period ended  December  31,  1999.  Interest
income on loans increased by $404,000, or 23.7%, due primarily to an increase of
approximately  $9.6 million,  or 10.2%,  in the average loan  portfolio  balance
outstanding,  coupled with an 89 basis point increase in yield.  Interest income
on mortgage-backed  securities  decreased by $8,000, or 3.5%, due primarily to a
decrease in the  average  balance  outstanding.  Interest  income on  investment
securities and  interest-bearing  deposits  increased by $16,000,  or 18.8%, due
primarily  to a  $1.2  million,  or  20.9%,  increase  in  the  weighted-average
outstanding balance,  partially offset by a 10 basis point decrease in the yield
earned on such investments.

Interest  expense on deposits  increased  by $237,000,  or 30.9%,  for the three
months  ended  December  31,  2000,  compared  to the same  period in 1999,  due
primarily to an  approximate  $11.1 million,  or 15.3%,  increase in the average
deposit portfolio balance outstanding, coupled with a 57 basis point increase in
the average cost of deposits.

Interest  expense on  borrowings  increased by $46,000,  or 11.9%,  due to a 121
basis point increase in the cost of such funds,  which was partially offset by a
$2.5 million, or 8.7%, 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 $129,000,  or 14.8%, for the three months ended
December 31, 2000, compared to the same period in 1999.

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 $42,000 during the three month
period ended  December 31, 2000, an increase of $20,000,  or 90.9%,  compared to
the same period in 1999. 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  December 31,
2000 and 1999 (continued)

Other Income

Other income  totaled  $44,000 for the three months ended  December 31, 2000, an
increase  of  $6,000,  or  15.8%,  over the 1999  total.  The  increase  was due
primarily to a $22,000 increase in gain on sale of loans year to year, which was
partially offset by a $16,000 decrease in other operating income.

General, Administrative and Other Expense

General,  administrative and other expense totaled $627,000 for the three months
ended December 31, 2000, an increase of $48,000,  or 8.3%,  compared to the same
period in 1999.  The  increase  in  general,  administrative  and other  expense
includes a $71,000, or 64.5%, increase in other expense and a $10,000, or 21.7%,
increase in data processing  expense,  which were partially offset by a $26,000,
or 37.7%,  decrease in franchise  taxes.  The increase in other expense includes
$23,000  in fees  paid  for  outsourcing  of  compliance  and  other  consulting
services, $9,000 in expenses related to real estate acquired through foreclosure
and pro-rata increases related to the Corporation's overall growth year to year.

Federal Income Taxes

The Corporation  recorded a provision for federal income taxes totaling $125,000
for the three months ended December 31, 2000, an increase of $25,000,  or 25.0%,
over the same period in 1999. The increase resulted primarily from a $67,000, or
21.9%, increase in earnings before taxes. The effective tax rates were 33.5% and
32.7% for the three months ended December 31, 2000 and 1999, respectively.




















                                       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

          On  October  17,  2000,  the  Corporation's   Annual  Meeting  of  the
          Shareholders  was  held.  Each of the four  directors  nominated  were
          elected to terms expiring in 2002 by the following votes:

                                               For                  Withheld

          Stephen R. Clinton               1,189,091                  27,127
          Robert R. Gerber                 1,194,387                  21,831
          Richard J. Herzig                1,186,673                  29,545
          Enos L. Loader                   1,194,821                  21,397

          One other  matter was  submitted  to the  shareholders,  for which the
          following votes were cast:

          Ratification  of the  appointment of Grant Thornton LLP as independent
          auditors of the Corporation for the fiscal year ended June 30, 2001.

          For:  1,203,865            Against:  6,903           Abstain:  5,450

ITEM 5.  Other Information

         None

ITEM 6.  Exhibits and Reports on Form 8-K

          (a)      Exhibits:                 None.


          (b)      Reports on Form 8-K:      On  October 20, 2000, an  8-K under
                                             Item 5 was filed to  report certain
                                             management changes at FFD Financial
                                             Corporation.




                                       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:    February 12, 2001                  By:  /s/Trent Troyer
       -----------------------                   ---------------------------
                                                   Trent Troyer
                                                   President





Date:    February 12, 2001                  By:  /s/Robert R. Gerber
       -----------------------                   ---------------------------
                                                   Robert R. Gerber
                                                   Chief Financial Officer






























                                       16