<PAGE>
                                  United States
                       Securities and Exchange Commission
                             Washington, D.C. 20549

                                   Form 10-QSB

[X]  Quarterly Report Under Section 13 or 15(d) of the Securities Exchange Act
     of 1934

                 For the Quarterly Period Ended March 31, 2003

[ ]  Transition Report Under Section 13 or 15(d) of the Securities Exchange Act
     of 1934

             For the Transition Period from _________ to __________

                         Commission File Number 0-16362

                           FIRST FRANKLIN CORPORATION
                           --------------------------
        (Exact name of small business issuer as specified in its charter)

           Delaware                               31-1221029
           --------                               ----------
(State or other jurisdiction of                   (I.R.S. Employer
 incorporation or organization)                   Identification Number)

                    4750 Ashwood Drive Cincinnati, Ohio 45241
                    -----------------------------------------
                    (Address of principal executive offices)

          Issuer's Telephone Number, including Area Code (513) 469-5352

          -------------------------------------------------------------
               (Former name, former address and former fiscal year,
                           if changed since last report)



                      APPLICABLE ONLY TO CORPORATE ISSUERS

As of March 31, 2003 there were issued and outstanding 1,635,308 shares of the
Registrant's Common Stock.

Transitional Small Business Disclosure Format (check one)

         Yes [ ]           No [X]

<PAGE>

                    FIRST FRANKLIN CORPORATION AND SUBSIDIARY

                                      INDEX

                                                                        Page No.

Part I  Financial Information

Item 1.  Consolidated Balance Sheets -
         March 31, 2003 and December 31, 2002                               3

         Consolidated Statements of Income and Retained
         Earnings - Three Month Periods ended March 31, 2003
         and 2002                                                           4

         Consolidated Statements of Cash Flows - Three Month
         Periods ended March 31, 2003 and 2002                              5

         Notes to Consolidated Financial Statements                         6


Item 2.  Management's Discussion and Analysis of Financial
         Condition and Results of Operations                                7

Item 3.  Controls and Procedures                                           14

Part II  Other Information                                                 15

Item 5.  Press Release dated March 25, 2003                                16

Signatures

<PAGE>

                    FIRST FRANKLIN CORPORATION AND SUBSIDIARY
                           CONSOLIDATED BALANCE SHEETS
                             (Dollars in thousands)

<TABLE>
<CAPTION>
                                                     Mar 31,2003      Dec 31,2002
                                                     -----------      -----------
                                                     (Unaudited)
<S>                                                <C>              <C>
     ASSETS
Cash, including CD's & other interest-earning
  deposits of $7,100 and $9,130, respectively         $   9,717        $  15,237
Investment securities
  Available-for-sale, at market value
     (amortized cost of $47,698 and
     $45,292, respectively)                              48,072           45,935
Mortgage-backed securities
  Available-for-sale, at market value
     (amortized cost of $17,525 and
     $17,716, respectively)                              17,905           17,939
  Held-to-maturity, at amortized cost
    (market value of $3,871 and
    $4,615, respectively)                                 3,647            4,351
Loans receivable, net                                   188,583          187,754
Real estate owned, net                                      160              160
Stock in Federal Home Loan Bank
  of Cincinnati, at cost                                  4,013            3,974
Accrued interest receivable                               1,433            1,314
Property and equipment, net                               3,586            3,287
Other assets                                              3,316            2,233
                                                      ---------        ---------
                                                      $ 280,432        $ 282,184

     LIABILITIES
Deposits                                              $ 220,041        $ 219,084
Borrowings                                               35,194           37,436
Advances by borrowers for taxes
  and insurance                                             737            1,274
Other liabilities                                           528              682
                                                      ---------        ---------
     Total liabilities                                  256,500          258,476
                                                      ---------        ---------

Minority interest in consolidated subsidiary                294              281
                                                      ---------        ---------

     STOCKHOLDERS' EQUITY:
Preferred stock; $.01 par value per share;
  500,000 shares authorized; no shares issued
Common stock; $.01 par value per share;
  2,500,000 shares authorized; 2,010,867
   shares issued at 03/31/03 and 12/31/02                    13               13
Additional paid in capital                                6,189            6,189
Treasury stock, at cost- 375,559 shares at
   03/31/03 and 375,696 shares at 12/31/02               (3,752)          (3,753)
Retained earnings, substantially restricted              20,690           20,406
Accumulated other comprehensive income:
   Unrealized gain (loss) on available-for-sale
   securities, net of taxes of $257 at 03/31/03
   and $295 at 12/31/02                                     498              572
                                                      ---------        ---------
     Total stockholders' equity                          23,638           23,427
                                                      ---------        ---------
                                                      $ 280,432        $ 282,184
</TABLE>

<PAGE>

                    FIRST FRANKLIN CORPORATION AND SUBSIDIARY
             CONSOLIDATED STATEMENTS OF INCOME AND RETAINED EARNINGS
                  (Dollars in thousands, except per share data)
                           For the Three Months Ended

<TABLE>
<CAPTION>
                                                                Mar 31,2003    Mar  31,2002
                                                                -----------    ------------
                                                                (Unaudited)     (Unaudited)

<S>                                                              <C>             <C>
Interest income:
  Loans receivable                                               $  3,049        $  3,599
  Mortgage-backed securities                                          244             302
  Investments                                                         650             465
                                                                 --------        --------
                                                                    3,943           4,366
Interest expense:
  Deposits                                                          1,883           2,331
  Borrowings                                                          550             713
                                                                 --------        --------
                                                                    2,433           3,044
     Net interest income                                            1,510           1,322

Provision for loan losses                                              61              19
                                                                 --------        --------
       Net interest income after provision for loan losses          1,449           1,303
                                                                 --------        --------

Noninterest income:
  Gain on loans sold                                                  183              88
  Gain on sale of investments                                         190               0
  Service fees on NOW accounts                                         85              75
  Other income                                                        107              91
                                                                 --------        --------
                                                                      565             254
Noninterest expense:
  Salaries and employee benefits                                      623             579
  Occupancy expense                                                   200             160
  Federal deposit insurance premiums                                   25              24
  Advertising                                                          60              78
  Service bureau expense                                               90              82
  Other expenses                                                      402             377
                                                                 --------        --------
                                                                    1,400           1,300

Income before federal income taxes                                    614             257

Provision for federal income taxes                                    207              80
                                                                 --------        --------
     Net Income                                                  $    407        $    177

RETAINED EARNINGS-BEGINNING OF PERIOD                            $ 20,406        $ 19,829
  Net income                                                          407             177
  Less: dividends declared                                           (123)           (122)
                                                                 --------        --------
RETAINED EARNINGS-END OF PERIOD                                  $ 20,690        $ 19,884

EARNINGS PER COMMON SHARE
        Basic                                                    $   0.25        $   0.11
        Diluted                                                  $   0.25        $   0.11

DIVIDENDS DECLARED PER  COMMON SHARE                             $  0.075        $  0.075
</TABLE>

The accompanying notes are an integral part of the consolidated financial
statements.
<PAGE>

                    FIRST FRANKLIN CORPORATION AND SUBSIDIARY
                      CONSOLIDATED STATEMENTS OF CASH FLOWS
                             (Dollars in thousands)

<TABLE>
<CAPTION>
                                                                    For The Three Months Ended
                                                                   Mar 31,2003     Mar 31,2002
                                                                   -----------     -----------
                                                                   (Unaudited)     (Unaudited)
<S>                                                                 <C>             <C>
Cash provided (used) by operating activities:

Net income                                                          $    407        $    177

Adjustments to reconcile net income to net cash
  provided by operating activities:

     Provision for loan losses                                            61              19
     Gain on sale of investments                                        (190)              0
     Depreciation and amortization                                        94              80
     FHLB stock dividend                                                 (39)            (42)
     Increase in accrued interest receivable                            (119)           (178)
     Increase in other assets                                         (1,083)           (193)
     Increase (decrease) in other liabilities                           (154)            197
     Other, net                                                         (124)            128
     Loans sold                                                       13,385           6,153
     Disbursements on loans originated for sale                      (10,734)         (6,153)
                                                                    --------        --------
Net cash provided by operating activities                              1,504             188
                                                                    --------        --------

Cash provided (used) by investing activities:
  Loan principal reductions                                           17,958          17,495
  Disbursements on mortgage and other
     loans purchased or originated for investment                    (21,400)        (11,928)
  Repayments on mortgage-backed securities                             1,896           2,572
  Proceeds from sale of student loans                                     82             100
  Purchase of available-for-sale mortgage-backed
      securities                                                      (1,004)           (993)
  Purchase of available-for-sale investment
      securities                                                     (15,973)         (1,000)
  Proceeds from the sale of or maturity of available-for-sale
    investment securities                                             13,690               5
  Proceeds from the sale of real estate owned                              0              89
  Capital expenditures                                                  (329)           (252)
                                                                    --------        --------
Net cash provided (used) by investing activities                      (5,080)          6,088
                                                                    --------        --------

Cash provided (used) by financing activities:
  Net increase in deposits                                               957           5,142
  Repayment of borrowings                                             (2,242)         (2,275)
  Decrease in advances by borrowers
     for taxes and insurance                                            (537)           (553)
  Proceeds from sale of common stock                                       1             130
  Payment of dividends                                                  (123)           (122)
                                                                    --------        --------
Net cash provided (used) by financing activities                      (1,944)          2,322
                                                                    --------        --------

Net (decrease) increase in cash                                     ($ 5,520)       $  8,598
Cash at beginning of period                                           15,237          21,042
                                                                    --------        --------
CASH AT END OF PERIOD                                               $  9,717        $ 29,640
</TABLE>

The accompanying notes are an integral part of the consolidated financial
statements.

<PAGE>

                    FIRST FRANKLIN CORPORATION AND SUBSIDIARY
                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

BASIS OF PRESENTATION

The accompanying unaudited interim consolidated financial statements have been
prepared in accordance with generally accepted accounting principles for interim
financial information and with the instructions to Form 10-QSB and Rule 10-01 of
Regulation S-X. Accordingly, they do not include all of the information and
footnotes required by generally accepted accounting principles for complete
financial statements. In the opinion of management, all adjustments (consisting
of normal recurring accruals) considered necessary for a fair presentation have
been included. Operating results for the three-month period ended March 31, 2003
are not necessarily indicative of the results that may be expected for the full
year. The December 31, 2002 Balance Sheet data was derived from audited
financial statements, but does not include all disclosures required by generally
accepted accounting principles.

EFFECT OF RECENT ACCOUNTING PRONOUNCEMENTS

In October 2002 the Financial Accounting Standards Board ("FASB") issued
Statement No. 147, Acquisition of Certain Financial Institutions, that amends
previously issued statements and interpretations relating to the acquisitions of
financial institutions. The pronouncement requires all acquisitions by
non-mutual enterprises to record the purchase under the purchase method of
accounting. This pronouncement is effective for acquisitions on or after October
1, 2002.

In December 2002 the FASB issued Statement No. 148, Accounting for Stock Based
Compensation, that amends certain previously issued statements. The
pronouncement provides alternative methods for the voluntary change to the fair
value method of accounting for stock based employee compensation. The
pronouncement also requires additional disclosure in both annual and interim
financial statements. This pronouncement is effective for fiscal years beginning
after December 15, 2003.

In July 2002, the FASB issued Statement No. 146, Accounting for Costs Associated
with Exiting or Disposal Activities, which replaces an Emerging Issues Task
Force issue. The pronouncement addresses the accounting and reporting for
one-time employee termination benefits, certain contract termination costs, and
other costs associated with exit or disposal activities such as facility
closings. The standard is effective for exit or disposal activities initiated
after December 31, 2002.

In November 2002, the FASB issued Interpretation No. 45, Guarantor's Accounting
and Disclosure Requirements for Guarantees Including Indirect Guarantees of
Indebtedness of Others. The issuance elaborates on the existing disclosure
requirements for guarantees, including loan guarantees such as standby letters
of credit and indemnifications. At the time a company issues a guarantee, the
company must recognize a liability for the fair value of the obligation it
assumes under the guarantee and disclose the same in the financial statement.
The issuance is effective to guarantees issued or modified after December 31,
2002.

<PAGE>

                   FIRST FRANKLIN CORPORATION AND SUBSIDIARY
                     MANAGEMENT'S DISCUSSION AND ANALYSIS OF
                  FINANCIAL CONDITION AND RESULTS OF OPERATIONS

GENERAL

First Franklin Corporation (the "Company") is a savings and loan holding company
that was incorporated under the laws of the State of Delaware in September 1987
in connection with the conversion of the Franklin Savings and Loan Company
("Franklin") from the mutual to stock form of ownership. The conversion was
completed on January 25, 1988.

First Franklin's mission is to maximize the value of the Company for its
shareholders by adhering to the following values:

     1.  Exceed customers' expectations regarding service and products.
     2.  Achieve success through our employees' efforts.
     3.  Shareholder satisfaction will enable us to continue serving our
         customers.
     4.  Support the communities we serve.
     5.  Combine business success with integrity.

The Company's operating philosophy is to be an efficient and profitable
financial services organization with a professional staff committed to
maximizing shareholder value by structuring and delivering quality services that
attract customers and satisfy their needs and preferences. Management's goal has
been to maintain profitability and a strong capital position. It seeks to
accomplish this goal by pursuing the following strategies: (i) emphasizing real
estate lending in both the residential and commercial mortgage markets, (ii)
managing liability pricing, (iii) controlling interest rate risk, (iv)
controlling operating expenses, (v) using technology to improve employee
efficiency, and (vi) maintaining asset quality.

As a Delaware corporation, the Company is authorized to engage in any activity
permitted by the Delaware General Corporation Law. As a unitary savings and loan
holding company, the Company is subject to examination and supervision by the
Office of Thrift Supervision ("OTS"), although the Company's activities are not
limited by the OTS as long as certain conditions are met. The Company's assets
consist of cash, interest-earning deposits, and investments in Franklin,
DirectTeller Systems Inc. ("DirectTeller") and Financial Institutions Partners
III, L.P. ("FIP III").

Franklin is an Ohio chartered stock savings and loan headquartered in
Cincinnati, Ohio. It was originally chartered in 1883 as the Green Street Number
2 Loan and Building Company. The business of Franklin consists primarily of
attracting deposits from the general public and using those deposits, together
with borrowings and other funds, to originate and purchase investments and real
estate loans. Franklin operates seven banking offices in Hamilton County, Ohio
through which it offers a full range of consumer banking services, including
mortgage loans, home equity and commercial lines of credit, credit and debit
cards, checking accounts, auto loans, savings accounts, automated teller
machines, a voice response telephone inquiry system and an internet-based
banking system which allows its customers to transfer funds between financial
institutions, pay bills, transfer funds between Franklin accounts, download
account and transaction information into financial management software programs
and inquire about account balances and transactions. To generate additional fee
income and enhance

<PAGE>

the products and services available to its customers, Franklin also offers
annuities, mutual funds and discount brokerage services in its offices through
an agreement with a third party broker dealer.

Franklin has one wholly owned subsidiary, Madison Service Corporation
("Madison"). Madison was formed in 1972 to allow Franklin to diversify into
certain types of business that, by regulation, savings and loans were unable to
enter. At the present time, Madison's assets consist solely of cash and
interest-earning deposits. Its only sources of income are the interest earned on
these deposits and the fees received as a result of the agreement with the third
party broker dealer that provides the discount brokerage services at Franklin's
offices.

First Franklin owns 51% of DirectTeller's outstanding common stock. DirectTeller
was formed in 1989, by the Company and DataTech Services Inc., to develop and
market a voice response telephone inquiry system to allow financial institution
customers to access information about their accounts via the telephone and a
facsimile machine. Franklin currently offers this service to its customers. The
inquiry system is currently in operation at Intrieve Inc., a computer service
bureau which offers the DirectTeller system to the savings and loans it
services. The agreement with Intrieve gives DirectTeller a portion of the
profits generated by the use of the inquiry system by Intrieve's clients. At the
present time, DirectTeller is developing a new product that will compliment the
current system.

FIP III is a limited partnership that invests in equity securities of
publicly-traded financial institutions. The Company has invested $1.50 million
in the partnership. At December 31, 2002, the Company's pro-rata interest in the
partnership, as estimated by Hovde Financial Inc., the general partner, had a
net asset value of approximately $2.11 million. There is not a readily
determinable market for First Franklin's ownership interest in this partnership.

In January 2002, management and the Board of Directors reviewed the Company's
strategic plan and established various strategic objectives for the next two
years. The primary objectives of this plan are profitability, independence,
capital adequacy and enhancing shareholder value. These objectives will be
accomplished through commercial real estate loan growth, the use of technology
to improve efficiency and/or customer service and maintaining interest rate risk
at or above levels required by OTS.

During November 2002, Franklin sold its branch office located at 5115 Glenway
Avenue, Cincinnati at a profit of approximately $300,000. This office was moved
approximately one mile to 5791 Glenway Avenue. The new property, which opened
during March 2003, has higher visibility, a drive-thru window, safe deposit
boxes and an ATM, which were not possible at the previous location.

Since the results of operations of Madison, DirectTeller and FIP lll have not
been material to the operations and financial condition of the Company, the
following discussion focuses primarily on Franklin.

FINANCIAL CONDITION, LIQUIDITY AND CAPITAL RESOURCES

Consolidated assets decreased $1.75 million (0.6%) from $282.18 million at
December 31, 2002 to $280.43 million at March 31, 2003, compared to a $2.43
million (0.9%)

<PAGE>

increase for the same period in 2002. During 2003, mortgage-backed securities
decreased $738,000, cash and investments decreased $3.38 million, loans
receivable increased $829,000, borrowings decreased $2.24 million and deposits
increased $957,000.

Loan disbursements were $32.13 million during the current quarter compared to
$18.08 million during the three months ended March 31, 2002. Mortgage and
student loans sales of $13.47 million occurred during the current three-month
period. At March 31, 2003, commitments to originate mortgage loans were $4.57
million. At the same date, $2.91 million of undisbursed loan funds were being
held on various construction loans, and undisbursed consumer and commercial
lines of credit were $12.90 million. Management believes that sufficient cash
flow and borrowing capacity exist to fund these commitments.

Liquid assets decreased $3.38 million during the three months ended March 31,
2003 to $57.79 million. This decrease reflects loan and mortgage-backed
securities repayments of $19.85 million, loan sales of $13.47 million and an
increase in deposits of $957,000, less decreases in borrowings of $2.24 million
and loan disbursements of $32.13 million. At March 31, 2003, liquid assets were
20.61% of total assets.

The Company's investment and mortgage-backed securities are classified based on
its current intention to hold to maturity or have available for sale, if
necessary. The following table shows the gross unrealized gains or losses on
mortgage-backed securities and investment securities as of March 31, 2003. No
securities are classified as trading.


<TABLE>
<CAPTION>
                                       Amortized   Unrealized  Unrealized    Market
                                         Cost        Gains       Losses      Value
                                       ---------------------------------------------
                                              (Dollars in thousands)
<S>                                    <C>           <C>          <C>        <C>
 Available-for-sale
      Investment securities            $47,698       $486         $112       $48,072
      Mortgage-backed securities        17,525        380            0        17,905
 Held-to-maturity
      Mortgage-backed securities         3,647        224            0         3,871
</TABLE>


At March 31, 2003, deposits were $220.04 million compared to $219.08 million at
December 31, 2002. This is an increase of $957,000 during the current
three-month period. During the three months ended March 31, 2003, core deposits
(transaction and passbook savings accounts) increased $1.50 million. During the
same period, short-term certificates (two years or less) decreased $1.16 million
and certificates with original terms greater than two years increased $618,000.
During the quarter consumers moved funds from maturing certificates to core
deposit accounts so they would be poised to take advantage of future rate
increases. Interest of $1.64 million during the current quarter was credited to
accounts. After eliminating the effect of interest credited, deposits decreased
$680,000 during the three-month period ended March 31, 2003.

At March 31, 2003 Franklin had outstanding borrowings of $35.19 million at an
average cost of 6.01%. Included in the Company's borrowings are a credit line
totaling $1.50 million on which $1,095.008 is outstanding. At March 31, 2003,
the Company was not in

<PAGE>

compliance with loan covenants, contained in this credit line, relating to loan
delinquencies. During the next twelve months, required principal reduction on
these borrowings will be $11.87 million.

Managing interest rate risk is fundamental to banking. Financial institutions
must manage the inherently different maturity and repricing characteristics of
their lending and deposit products to achieve a desired level of earnings and to
limit their exposure to changes in interest rates. Franklin is subject to
interest rate risk to the degree that its interest-bearing liabilities,
consisting principally of customer deposits and Federal Home Loan Bank advances,
mature or reprice more or less frequently, or on a different basis, than its
interest-earning assets, which consist of mortgage loans, mortgage-backed
securities, consumer loans, corporate debt securities and U.S. Treasury and
agency securities. While having liabilities that mature or reprice more rapidly
than assets may be beneficial in times of declining interest rates, such an
asset/liability structure may have the opposite effect during periods of rising
interest rates. Conversely, having assets that reprice or mature more rapidly
than liabilities may adversely affect net interest income during periods of
declining interest rates.

As of December 31, 2002, Franklin was rated in the most favorable interest rate
risk category under OTS guidelines. The composition of the loan portfolio has
gone from 33% adjustable, 56% fixed and 11% balloons at December 31, 1999 to 69%
adjustable, 24% fixed and 7% balloons at March 31, 2003. During the same time
frame, core deposits have increased to 38% of total deposits from 24% at
December 31, 1999 and certificates with original maturities of three years or
more have increased to 40% of total deposits at March 31, 2003 from 24% at
December 31, 1999. Because adjustable-rate mortgage loans (ARMs) are normally
originated at rates lower than fixed-rate loans and longer term certificates
normally have higher rates than shorter term certificates, this change in
balance sheet composition has improved Franklin interest rate exposure but has
had a negative impact on net interest income.

At March 31, 2003, $3.36 million of assets were classified substandard, $257,000
classified loss and $6.96 million were designated by management as special
mention compared to $4.03 million as substandard, $227,000 as loss and $8.28
million designated special mention at December 31, 2002. Non-accruing loans and
accruing loans delinquent ninety days or more, net of reserves, were $2.32
million at March 31, 2003 and $2.10 million at December 31, 2002. The increase
in delinquent loans is the result of the weak economy experienced during the
past year. Management believes that these trends will be reversed as the economy
improves. At March 31, 2003, the recorded investment in loans for which
impairment under SFAS No. 114 has been recognized was immaterial to the
Company's financial statements.

The following table shows the activity that has occurred on loss reserves during
the three months ended March 31, 2003.

                                          (Dollars in thousands)
          Balance at beginning of period        $1,203
          Charge offs                                0
          Additions charged to operations           61
          Recoveries                                 0
                                                ------
          Balance at end of period              $1,264

<PAGE>

The Company's capital supports business growth, provides protection to
depositors, and represents the investment of stockholders on which management
strives to achieve adequate returns. First Franklin continues to enjoy a strong
capital position. At March 31, 2003, net worth was $23.64 million, which is
8.43% of assets. At the same date, book value per share was $14.45, compared to
$14.33 per share at December 31, 2002.

The following table summarizes, as of March 31, 2003, the regulatory capital
position of Franklin.

<TABLE>
<CAPTION>
Capital Standard      Actual    Required    Excess     Actual     Required    Excess
                        (Dollars in thousands)
<S>                  <C>         <C>        <C>       <C>         <C>       <C>
Core                 $21,819     $11,107    $10,712     7.86%       4.00%     3.86%
Risk-based            22,827      13,569      9,258    13.46%       8.00%     5.46%
</TABLE>


COMPREHENSIVE INCOME

Comprehensive income (loss) for the three months ended March 31, 2003 and 2002
was $208,000 and ($90,000), respectively. The difference between net income and
comprehensive income consists solely of the effect of unrealized gains and
losses, net of taxes, on available-for-sale securities.

RESULTS OF OPERATIONS

Net income was $407,000 ($0.25 per basic share) for the current quarter compared
to $177,000 ($0.11 per basic share) for the quarter ended March 31, 2002. The
increase in net income during the current three month period, when compared to
the same period in 2002, reflects increases of $95,000 in gains on the sale of
loans, $190,000 gain on the sale of investments, $188,000 in net interest
income, $42,000 in the provision for loan losses and $100,000 in noninterest
expense.

Net interest income, before provisions for loan losses, was $1.51 million for
the current quarter compared to $1.32 million for the first quarter of 2002. The
following rate/volume analysis describes the extent to which changes in interest
rates and the volume of interest related assets and liabilities have affected
net interest income during the periods indicated.

<PAGE>

<TABLE>
<CAPTION>
                                            For the three month periods ended March 31,
                                                            2003 vs 2002
                                                                                Total
                                            Increase (decrease) due to         increase
                                            Volume               Rate         (decrease)
Interest income attributable to:                       (Dollars in thousands)
<S>                                         <C>                 <C>             <C>
  Loans receivable (1)                      ($205)              ($346)          ($551)
  Mortgage-backed securities                   17                 (75)            (58)
  Investments                                 138                  51             189
  FHLB stock                                    2                  (5)             (3)
                                            -----               -----           -----
  Total interest-earning assets              ($48)              ($375)          ($423)

Interest expense attributable to:
  Demand deposits                             ($3)                 $2             ($1)
  Savings accounts                             50                (105)            (55)
  Certificates                               (168)               (224)           (392)
  FHLB advances                              (139)                (24)           (163)
                                            -----               -----           -----
  Total interest-bearing liabilities        ($260)              ($351)          ($611)

Increase in net interest income              $212                ($24)           $188
</TABLE>

(1)  Includes non-accruing loans.


As the tables below illustrate, average interest-earning assets increased $2.30
million to $268.96 million during the three months ended March 31, 2003, from
$266.66 million for the three months ended March 31, 2002. Average
interest-bearing liabilities decreased $22,000 from $255.65 million for the
three months ended March 31, 2002, to $255.63 million for the current
three-month period. Thus, average net interest-earning assets increased $2.32
million when comparing the two periods. The interest rate spread (the yield on
interest-earning assets less the cost of interest-bearing liabilities) was 2.05%
for the three months ended March 31, 2003, compared to 1.79% for the same period
in 2002. The increase in the interest rate spread was the result of a decrease
in the cost of interest-bearing liabilities from 4.76% for the three months
ended March 31, 2002, to 3.81% for the same three-month period in 2003. The
majority of the decrease in the cost of interest-bearing liabilities is the
result of decreases in the cost of certificates from 5.39% to 4.77% and the cost
of savings accounts from 2.21% to 1.05%. The yield on interest-earning assets
declined from 6.55% for the quarter ended March 31, 2002 to 5.86% for the
current quarter. The overall decrease in the yield on interest-earning assets
and the cost of interest-bearing liabilities is due to the general decline in
market interest rates.

<PAGE>

<TABLE>
<CAPTION>
                                                   For the Three Months ended March 31, 2003
                                                            Average
                                                          outstanding            Yield/cost
                                                     (Dollars in thousands)
<S>                                                         <C>                    <C>
Average interest-earning assets
   Loans                                                    $187,994               6.49%
   Mortgage-backed securities                                 21,488               4.54%
   Investments                                                55,490               4.41%
   FHLB stock                                                  3,987               3.91%
                                                            --------               ----
     Total                                                  $268,959               5.86%

Average interest-bearing liabilities
   Demand deposits                                          $ 50,265               1.17%
   Savings accounts                                           30,510               1.05%
   Certificates                                              138,909               4.77%
   FHLB advances                                              35,944               6.12%
                                                            --------               ----
     Total                                                  $255,628               3.81%

Net interest-earning assets/interest rate spread            $ 13,331               2.05%


                                                   For the Three Months ended March 31, 2002
                                                            Average
                                                          outstanding           Yield/cost
                                                     (Dollars in thousands)
Average interest-earning assets
   Loans                                                    $199,795               7.21%
   Mortgage-backed securities                                 20,414               5.92%
   Investments                                                42,642               3.97%
   FHLB stock                                                  3,810               4.41%
                                                            --------               ----
     Total                                                  $266,661               6.55%

Average interest-bearing liabilities
   Demand deposits                                          $ 34,239               1.73%
   Savings accounts                                           24,425               2.21%
   Certificates                                              152,012               5.39%
   FHLB advances                                              44,974               6.34%
                                                            --------               ----
     Total                                                  $255,650               4.76%

Net interest-earning assets/interest rate spread            $ 11,011               1.79%
</TABLE>


Noninterest income for the quarter ended March 31, 2003 was $565,000 compared to
$254,000 for the same quarter in 2002. The majority of the increase in
noninterest income is the result of increases in the gain on the sale of loans
of $95,000 and gain on the sale of investments of $190,000.

Noninterest expenses were $1.40 million for the current quarter compared to
$1.30 million for the quarter ended March 31, 2002. As a percentage of average
assets, this

<PAGE>

is 1.99% for the current three-month period compared to 1.86% for the first
three months of 2002. The increase in noninterest expense is partially due to a
$106,000 increase in compensation and employee benefits and increased office
occupancy expenses.

ITEM 3. CONTROLS AND PROCEDURES

     (a)  The Chief Executive Officer and Chief Financial Officer have evaluated
          the effectiveness of the Company's disclosure controls and procedures
          (as defined in Rules 13a-14 and 15d-14 of the Securities Exchange Act
          of 1934, as amended) as of a date within ninety days of the filing
          date of this quarterly report on Form 10-QSB. Based upon the
          evaluation, the Chief Executive Officer and Chief Financial Officer
          have concluded that the Company's disclosure controls and procedures
          are effective.

     (b)  There were no significant changes in the Company's internal controls
          or in any factors that could significantly affect internal controls
          subsequent to the date of the Chief Executive Officer and the Chief
          Financial Officer's evaluation.

<PAGE>

PART II

     FIRST FRANKLIN CORPORATION AND SUBSIDIARY

Item 1. LEGAL PROCEEDINGS

     There are no material pending legal proceedings to which the Company or any
     subsidiary is a party or to which any of their property is subject.

Item 2. CHANGES IN SECURITIES

     None

Item 3. DEFAULTS UPON SENIOR SECURITIES

     None

Item 4. SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS

     None

Item 5. OTHER INFORMATION

     a.   Press Release dated March 25, 2003


Item 6. EXHIBITS AND REPORTS ON FORM 8-K

     a.   Exhibits

          99.1 Certification of Chief Executive Officer Pursuant to Section 906
               of the Sarbanes-Oxley Act of 2002.

          99.2 Certification of Chief Financial Officer Pursuant to Section 906
               of the Sarbanes-Oxley Act of 2002.

     b.   No reports on Form 8-K were filed for the period covered by this Form
          10-QSB.

<PAGE>

                           FIRST FRANKLIN CORPORATION

                    4750 Ashwood Drive Cincinnati, Ohio 45241
                        (513) 469-8000 Fax (513) 469-5360


March 25, 2003
Cincinnati, Ohio

First Franklin Corporation Declares Quarterly Dividend

The Board of Directors of First Franklin Corporation has declared a dividend of
$0.075 per share for the first quarter of 2003. This is the sixty-first
consecutive dividend paid by the company. The quarterly dividend will be payable
April 21, 2003 to shareholders of record as of April 4, 2003. In accordance with
NASD regulations, the ex-dividend date for this dividend payment is expected to
be April 1, 2003. Persons who buy or sell shares should consult their brokers
regarding the timing of their transactions and the effect of the ex-dividend
date.

First Franklin is the parent of Franklin Savings, which has eight locations in
Greater Cincinnati. The Corporation's common stock is traded on the Nasdaq
National Market under the symbol "FFHS".

CONTACT: Thomas H. Siemers
         President and CEO
         (513) 469-8000

<PAGE>

SIGNATURES

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

                                                  FIRST FRANKLIN CORPORATION

                                                  /s/ Daniel T. Voelpel
                                                  -----------------------------
                                                  Daniel T. Voelpel
                                                  Vice President and Chief
                                                  Financial Officer

Date:  May 9, 2003

<PAGE>

                                  CERTIFICATION

I, Thomas H. Siemers, certify that:

1.   I have reviewed this quarterly report on Form 10-QSB of First Franklin
     Corporation;

2.   Based on my knowledge, this quarterly report does not contain any untrue
     statement of a material fact or omit to state a material fact necessary to
     make the statements made, in light of the circumstances under which such
     statements were made, not misleading with respect to the period covered by
     this quarterly report;

3.   Based on my knowledge, the financial statements, and other financial
     information included in this quarterly report, fairly present in all
     material respects the financial condition, results of operations and cash
     flows of the registrant as of, and for, the periods presented in this
     quarterly report;

4.   The registrant's other certifying officers and I are responsible for
     establishing and maintaining disclosure controls and procedures (as defined
     in Exchange Act Rules 13a-14 and 15d-14) for the registrant and have:

          a.   Designed such disclosure controls and procedures to ensure that
               material information relating to the registrant, including its
               consolidated subsidiaries, is made known to us by others within
               those entities, particularly during the period in which this
               quarterly report is being prepared;

          b.   Evaluated the effectiveness of the registrant's disclosure
               controls and procedures as of a date within 90 days prior to the
               filing date of this quarterly report (the "Evaluation Date"); and

          c.   Presented in this quarterly report our conclusions about the
               effectiveness of the disclosure controls and procedures based on
               our evaluation as of the Evaluation Date;

5.   The registrant's other certifying officers and I have disclosed, based on
     our most recent evaluation, to the registrant's auditors and the audit
     committee of registrant's board of directors (or persons performing the
     equivalent functions):

          a.   All significant deficiencies in the design or operation of
               internal controls which could adversely affect the registrant's
               ability to record, process, summarize and report financial data
               and have identified for the registrant's auditors any material
               weaknesses in internal controls; and

          b.   Any fraud, whether or not material, that involves management or
               other employees who have a significant role in the registrant's
               internal controls; and

6.   The registrant's other certifying officers and I have indicated in this
     quarterly report whether there were significant changes in internal
     controls or in other factors that could significantly affect internal
     controls subsequent to the date of our most recent evaluation, including
     any corrective actions with regard to significant deficiencies and material
     weaknesses.


Date: May 9, 2003                                 /s/ Thomas H. Siemers
                                                  ----------------------------
                                                  Thomas H. Siemers
                                                  President and Chief Executive
                                                  Officer

<PAGE>

                                  CERTIFICATION

I, Daniel T. Voelpel, certify that:

1.   I have reviewed this quarterly report on Form 10-QSB of First Franklin
     Corporation;

2.   Based on my knowledge, this quarterly report does not contain any untrue
     statement of a material fact or omit to state a material fact necessary to
     make the statements made, in light of the circumstances under which such
     statements were made, not misleading with respect to the period covered by
     this quarterly report;

3.   Based on my knowledge, the financial statements, and other financial
     information included in this quarterly report, fairly present in all
     material respects the financial condition, results of operations and cash
     flows of the registrant as of, and for, the periods presented in this
     quarterly report;

4.   The registrant's other certifying officers and I are responsible for
     establishing and maintaining disclosure controls and procedures (as defined
     in Exchange Act Rules 13a-14 and 15d-14) for the registrant and have:

          a.   Designed such disclosure controls and procedures to ensure that
               material information relating to the registrant, including its
               consolidated subsidiaries, is made known to us by others within
               those entities, particularly during the period in which this
               quarterly report is being prepared;

          b.   Evaluated the effectiveness of the registrant's disclosure
               controls and procedures as of a date within 90 days prior to the
               filing date of this quarterly report (the "Evaluation Date"); and

          c.   Presented in this quarterly report our conclusions about the
               effectiveness of the disclosure controls and procedures based on
               our evaluation as of the Evaluation Date;

5.   The registrant's other certifying officers and I have disclosed, based on
     our most recent evaluation, to the registrant's auditors and the audit
     committee of registrant's board of directors (or persons performing the
     equivalent functions):

          a.   All significant deficiencies in the design or operation of
               internal controls which could adversely affect the registrant's
               ability to record, process, summarize and report financial data
               and have identified for the registrant's auditors any material
               weaknesses in internal controls; and

          b.   Any fraud, whether or not material, that involves management or
               other employees who have a significant role in the registrant's
               internal controls; and

6.   The registrant's other certifying officers and I have indicated in this
     quarterly report whether there were significant changes in internal
     controls or in other factors that could significantly affect internal
     controls subsequent to the date of our most recent evaluation, including
     any corrective actions with regard to significant deficiencies and material
     weaknesses.


Date: May 9, 2003                                /s/ Daniel T. Voelpel
                                                 ----------------------------
                                                 Daniel T. Voelpel
                                                 Vice President and Chief
                                                 Financial Officer