Securities and Exchange Commission
                             Washington, D.C. 20549


                                  Form 10-QSB

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

                For the Quarterly Period Ended September 30,1997

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

                           For the Transition Period

                         Commission File Number 0-16362


                           First Franklin Corporation
             (Exact Name of Registrant 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)            (Zip Code)


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

Indicate by check mark whether the Registrant (1) has filed all reports
required to be filed by Section 13 or 15 (d) of the Securities Exchange Act of
1934 during the preceding twelve months (or for such shorter period that the
Registrant was required to file such reports) and (2) has been subject to such
requirements for the past 90 days.

                             Yes  [X]    NO  [ ]


As of September 30,1997, there were issued and outstanding 1,192,029 shares of
the Registrant's Common Stock.

                 Transitional Small Business Format (check one)

                             Yes [ ]     NO  [X]


<PAGE> 1


                   FIRST FRANKLIN CORPORATION AND SUBSIDIARY

                                     INDEX

<TABLE>
<CAPTION>
                                                                          Page No.
                                                                          --------


<S>                                                                          <C>
Part I   Financial Information

Item 1.  Consolidated Balance Sheets - September 30, 1997 and 
         December 31, 1996                                                    3

         Consolidated Statements of Income and Retained Earnings - 
         Three and Nine Month Periods ended September 30,1997 and 1996        4

         Consolidated Statements of Cash Flows - Three and Nine Month
         Periods ended September 30,1997 and 1996                             5

         Notes to Consolidated Financial Statements                           6


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


Part II  Other Information                                                   12

Item 5.  Press Release Dated September 25, 1997                              13
         Press Release Dated October 16, 1997                                14


Signatures                                                                   15
</TABLE>

<PAGE> 2


Part I - Item 1.

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


<TABLE>
<CAPTION>
                                                                Sept 30, 1997    Dec 31, 1996
                                                                -------------    ------------
                                                                 (Unaudited)

<S>                                                               <C>              <C>
ASSETS
Cash, including CD's & other interest-earning deposits of 
 $2,890 and $7,625 at 09/30/97 and 12/31/96, respectively         $   5,885        $  10,009
Investment securities
  Available-for-sale, at market value (amortized cost of 
   $29,256 and $17,424, respectively)                                29,307           17,358
Mortgage-backed securities
  Available-for-sale, at market value (amortized cost of 
   $19,403 and $19,107, respectively)                                19,973           19,503
  Held-to-maturity, at amortized cost (market value of 
   $17,885 and $19,249, respectively)                                18,017           19,622
Loans receivable, net                                               152,304          150,135
Real estate owned, net                                                    0              181
Stock in Federal Home Loan Bank of Cincinnati, at cost                1,776            1,750
Accrued interest receivable                                           1,442            1,240
Property and equipment, net                                           1,942            1,900
Other assets                                                            543              604
                                                                  --------------------------
                                                                  $ 231,189        $ 222,302

LIABILITIES
Savings accounts                                                  $ 203,130        $ 194,648
Borrowings                                                            6,111            6,423
Advances by borrowers for taxes and insurance                           631            1,066
Other liabilities                                                       470              435
                                                                  --------------------------
      Total liabilities                                             210,342          202,572
                                                                  --------------------------
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; 1,340,584 shares issued at 09/30/97 and 
 1,293,012 at 12/31/96                                                   13               13
Additional paid in capital                                            6,190            5,952
Treasury stock, at cost- 148,555 and 136,578 shares at 
 09/30/97 and 12/31/96, respectively                                 (1,344)          (1,141)
Unrealized gain on available-for-sale securities, net of
 taxes of $211 at 09/30/97 and $112 at 12/31/96                         410              218
Retained earnings, substantially restricted                          15,578           14,688
                                                                  --------------------------
      Total stockholders' equity                                     20,847           19,730
                                                                  --------------------------
                                                                  $ 231,189        $ 222,302
</TABLE>


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


<PAGE> 3


                   FIRST FRANKLIN CORPORATION AND SUBSIDIARY
             CONSOLIDATED STATEMENTS OF INCOME AND RETAINED EARNING
                 (Dollars in Thousands Except per Share Data)


<TABLE>
<CAPTION>
                                                                For The Three Months Ended        For The Nine Months Ended
                                                              ------------------------------    ------------------------------
                                                              Sept 30, 1997    Sept 30, 1996    Sept 30, 1997    Sept 30, 1996
                                                              -------------    -------------    -------------    -------------
                                                                        (Unaudited)                       (Unaudited)

<S>                                                             <C>              <C>              <C>              <C>
Interest income:
  Loans receivable                                              $  3,075         $  2,943         $  9,087         $  8,626
  Mortgage-backed securities                                         628              682            1,878            1,986
  Investment securities                                              510              335            1,291            1,052
                                                                -----------------------------------------------------------
                                                                   4,213            3,960           12,256           11,664
Interest expense:
  Savings accounts                                                 2,644            2,349            7,529            6,944
  Borrowings                                                          99              116              305              352
                                                                -----------------------------------------------------------
                                                                   2,743            2,465            7,834            7,296
                                                                -----------------------------------------------------------
      Net interest income                                          1,470            1,495            4,422            4,368

Provision for loan losses                                             21               31               63               72
                                                                -----------------------------------------------------------
      Net interest income after provision for loan losses          1,449            1,464            4,359            4,296
                                                                -----------------------------------------------------------
Noninterest income:
  Gain on loans sold                                                  56               21              120               36
  Service fees on NOW accounts                                        51               55              148              157
  Other income                                                        64               56              155              163
                                                                -----------------------------------------------------------
                                                                     171              132              423              356
Noninterest expenses:
  Salaries and employee benefits                                     469              437            1,341            1,271
  Occupancy expense                                                  148              160              444              459
  Federal insurance premiums                                          32            1,259               70            1,471
  Service bureau expense                                              58               59              170              200
  Other expenses                                                     301              306              965              927
                                                                -----------------------------------------------------------
                                                                   1,008            2,221            2,990            4,328

Income before federal income taxes                                   612             (625)           1,792              324

Provision for federal income taxes                                   203             (215)             593               99
                                                                -----------------------------------------------------------
      Net Income                                                $    409         $   (410)        $  1,199         $    225


RETAINED EARNINGS-BEGINNING OF PERIOD                           $ 15,289         $ 15,235         $ 14,688         $ 14,777
  Net income                                                         409             (410)           1,199              225
  Less: dividends declared                                          (120)             (93)            (309)            (270)
                                                                -----------------------------------------------------------
RETAINED EARNINGS-END OF PERIOD                                 $ 15,578         $ 14,732         $ 15,578         $ 14,732

EARNINGS PER COMMON SHARE                                       $   0.33         $  (0.34)        $   0.98         $   0.18

DIVIDENDS DECLARED PER COMMON SHARE                             $   0.10         $   0.08         $   0.26         $   0.23
</TABLE>


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


<PAGE> 4


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


<TABLE>
<CAPTION>
                                                                  For The Nine Months Ended
                                                               -------------------------------
                                                               Sept 30, 1997     Sept 30, 1996
                                                               -------------     -------------
                                                                         (Unaudited)

<S>                                                              <C>               <C>
Cash provided by (used in) operating activities:

Net income                                                       $   1,199         $     225

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

  Provision for loan losses                                             63                72
  Depreciation and amortization                                        130               121
  SAIF special assessment                                                0             1,150
  FHLB stock dividend                                                  (93)              (87)
  Increase in accrued interest receivable                             (202)             (160)
  Decrease (Increase) in other assets                                   61              (780)
  Increase in other liabilities                                         35               233
  Other, net                                                          (161)             (626)
  Loans sold                                                         6,737             2,280
  Disbursements on loans originated for sale                        (6,001)           (2,080)
                                                                 ---------------------------
      Net cash provided by operating activities                      1,768               348
                                                                 ---------------------------
Cash provided by (used in) investing activities:
  Loan principal reductions                                         22,960            23,296
  Disbursements on mortgage and other loans purchased or 
   originated for investment                                       (25,858)          (32,425)
  Repayments on mortgage-backed securities                           3,851             4,434
  Purchase of available-for-sale mortgage-backed securities         (2,551)           (3,947)
  Purchase of available-for-sale investment securities             (21,644)           (4,199)
  Proceeds from the maturity of available-for-sale investment
   securities                                                        9,820             3,000
  Sale of Federal Home Loan Bank stock                                  67                17
  Procceds from the sale of real estate owned                          173               122
  Capital expenditures                                                (171)              (64)
                                                                 ---------------------------
      Net cash used in investing activities                        (13,353)           (9,766)
                                                                 ---------------------------
Cash provided by (used in) financing activities:
  Net decrease in passbook accounts and demand deposits             (5,098)           (2,698)
  Proceeds from sales of certificates of deposit                    62,206            46,048
  Payments for maturing certificates of deposit                    (48,626)          (43,955)
  Purchase of deposit accounts                                                         5,300
  Repayment of borrowed money                                         (312)             (239)
  Decrease in advances by borrowers for taxes and insurance           (435)             (563)
  Purchase of treasury stock                                                            (444)
  Proceeds from sale of common stock                                    35                49
  Payment of dividends                                                (309)             (270)
                                                                 ---------------------------
      Net cash provided by financing activities                      7,461             3,228
                                                                 ---------------------------
      Net decrease in cash                                       $  (4,124)        $  (6,190)
Cash at beginning of period                                         10,009             8,653
                                                                 ---------------------------
CASH AT END OF PERIOD                                            $   5,885         $   2,463
</TABLE>


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


<PAGE> 5


                   FIRST FRANKLIN CORPORATION AND SUBSIDIARY
                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS


NOTE 1:   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 and
nine month periods ended September 30,1997 are not necessarily indicative of
the results that may be expected for the full year. The December 31,1996
Balance Sheet data was derived from audited Financial Statements, but does not
include all disclosures required by generally accepted accounting principles.

Effective January 1, 1997 the Company was required to adopt Statement of
Financial Accounting Standards ("SFAS") No. 125 "Accounting for Transfers and
Servicing of Financial Assets and Extinguishments of Liabilities" which
establishes accounting and reporting standards for transfers and servicing of
financial assets and extinguishments of liabilities. The standards are based on
a consistent application of a financial components approach that focuses on
control. Under that approach, after a transfer of financial assets, an entity
recognizes the financial and servicing assets it controls and the liabilities
it has incurred, derecognizes financial assets when control has been
surrendered, and derecognizes liabilities when extinguished. SFAS No. 125
provides consistent standards for distinguishing transfers of financial assets
that are sales from transfers that are secured borrowings. The adoption of this
new accounting standard did not have a significant impact on the Company's
Consolidated Statement of Income for the three and nine month periods ended
September 30, 1997.

On March 3, 1997, the Financial Accounting Standards Board ("FASB") issued SFAS
No. 128, "Earnings per Share" which will replace the current presentation of
"primary" and "fully diluted" earnings per share with newly defined "basic" and
"diluted" earnings per share. "Basic" earnings per share will not include
dilutive effect on earnings. "Diluted" earnings per share will reflect the
potential dilution of securities that could share in an enterprises earnings.
The statement will require dual presentation of basic and diluted earnings per
share on the income statement for all entities having complex capital
structures. It is effective for all financial statements issued for periods
ending after December 31, 1997. Management is currently assessing the impact
that adoption will have on the Company's financial statements.


<PAGE> 6


Part I - Item 2.

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


GENERAL

FIRST FRANKLIN CORPORATION ("Company") is a savings and loan holding company
which was incorporated under the laws of the State of Delaware in September
1987 by authorization of the Board of Directors of the Franklin Savings and
Loan Company ("Franklin"). The Company applied for and received regulatory
approval to acquire all the common stock of Franklin issued in connection with
its conversion from the mutual to stock form of ownership. This conversion was
completed January 25,1988.

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. Management's goal is to
maintain profitability and a strong capital base. It seeks to accomplish this
goal by pursuing the following strategies; (i) emphasizing lending in the
one-to four-family residential mortgage market, (ii) managing deposit pricing,
(iii) controlling interest rate risk, (iv) controlling operating expenses, (v)
controlling asset growth, and (vi) maintaining asset quality.

As a Delaware corporation, First Franklin is authorized to engage in any
activity permitted by Delaware General Corporation Law. As a unitary savings
and loan holding company, First Franklin 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, investment securities, the
office building where the corporate office is located and investments in
Franklin and DirectTeller Systems Inc. ("DirectTeller").

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. Franklin operates seven banking offices in
Hamilton County, Ohio through which it offers a wide range of consumer banking
services, including mortgage loans, credit cards, checking accounts, auto
loans, savings and certificate accounts, automated teller machines and a voice
response telephone inquiry system. Franklin also offers mutual funds, annuities
and discount brokerage services in its offices through an agreement with a
third party. 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 for
retention in its portfolio and sale in the secondary market.

Legislation has been introduced to restructure the federal banking system. Such
legislation might require Franklin to convert to a state savings bank or
national bank charter. As a result, it could become subject to the more
restrictive activity limits imposed on national banks, but it would have a
specified period of time to divest any non-conforming assets. In addition, the
Company might be required to become a bank holding company, which would subject
it to more restrictive activity limits and to capital requirements similar to
those imposed on Franklin. The Company cannot evaluate how this legislation may
impact it until it has been enacted.

Franklin has one wholly-owned subsidiary, Madison Service Corporation
("Madison"). Madison was formed on February 22,1972 to allow Franklin to
diversify into certain types of business which, by regulation, savings and
loans were unable to enter. At the present time, Madison's only activity is its
contract with the third party registered broker dealer that offers brokerage
services at the offices of Franklin. Madison's assets consist solely of cash
and interest-earning deposits.

DirectTeller was formed in 1989 by the Company and DataTech Services, Inc. to
develop and market a voice response inquiry system to allow financial
institution customers to access information about their accounts via the
telephone and/or a facsimile machine. The inquiry system is currently in
operation at Intreive Inc., a computer service bureau which offers the
DirectTeller system to the financial institutions it services. The agreement
with Intrieve gives DirectTeller a percentage of the profits generated by the
inquiry system.

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


<PAGE> 7


FINANCIAL CONDITION, LIQUIDITY AND CAPITAL RESOURCES

Consolidated assets increased $8.9 million (4.0%) from $222.3 million at
December 31, 1996 to $231.2 million at September 30,1997, compared to a $4.7
million (2.2%) increase for the same period in 1996.

Loan disbursements were $31.9 million during the current nine month period
compared to $34.5 million during the nine months ended September 30,1996.
Disbursements during the Third Quarter 1997 were $10.9 million compared to
$12.5 million during the same quarter in 1996. During the current nine month
period loan sales were $6.7 million. At September 30,1997, commitments to
originate mortgage loans were $2.3 million. At the same date, $2.7 million of
undisbursed loan funds were being held on various construction loans.
Management believes that sufficient cash flow and borrowing capacity exists to
fund these commitments.

Liquid assets increased $7.8 million during the nine months ended September
30,1997 to $35.2 million. This increase reflects net savings deposits of $8.5
million, loan sales of $6.7 million and loan and mortgage-backed securities
repayments of $26.8 million less loan disbursements of $31.9 million and
purchases of mortgage-backed securities of $2.6 million. At September 30, 1997
liquid assets were 15.2 % of total assets, which was above management's target
of 8%.

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 September 30,1997.
During the current nine month period, there have been no sales of investments
or mortgage-backed securities. No securities are classified as trading.

<TABLE>
<CAPTION>
                                      Amortized     Market    Unrealized    Unrealized
                                        Cost        Value       Gains         Losses
                                                       (in thousands)

<S>                                    <C>         <C>          <C>            <C>
Available-for-sale
  Investment securities                $29,256     $29,307      $101           $ 50
  Mortgage-backed securities            19,403      19,973       587             17
Held-to-maturity
  Mortgage-backed securities            18,017      17,885        74            206
</TABLE>


At September 30,1997 savings deposits were $203.1 million compared to $194.6
million at December 31,1996. This is an increase of $8.5 million during the
current nine month period. During the nine months ended September 30,1997, core
deposits (transaction and passbook savings accounts) decreased $5.1 million.
During the same period, short term certificates (two years or less) increased
$7.7 million and certificates with original terms greater than two years
increased $5.9 million. Interest of $2.4 million during the current quarter and
$6.7 million during the current nine month period was credited to accounts.
After eliminating the effect of interest credited, savings increased $1.2
million during the three months period and increased $1.8 million during the
nine months ended September 30, 1997.

At September 30,1997 borrowings consisted of $6.1 million in fixed-rate Federal
Home Loan Bank advances at an average cost of 6.44%. All advances are being
amortized monthly.

At September 30,1997, $1.2 million of assets were classified substandard,
$296,000 classified loss and $2.1 million classified as special mention
compared to $1.4 million as substandard, $344,000 as loss and $2.5 million as
special mention at December 31,1996. Non-accruing and accruing loans delinquent
ninety days or more, net of reserves, were $795,000 at September 30,1997 and
$693,000 at December 31,1996. At September 30, 1997 the recorded investment in
loans for which impairment under SFAS No. 114 has been recognized was
immaterial to the Company's financial statements.

In management's opinion, adequate reserves are available to protect against
reasonably foreseeable losses that may occur on loans or repossessed assets.
The following table shows the activity that has occurred on loss reserves
during the nine months ended September 30,1997.


<TABLE>
<CAPTION>
                                                 (Dollars in Thousands)

      <S>                                                <C>
      Balance at beginning of period                     $ 981
      Charge offs                                           60
      Additions charged to operations                       63
      Recoveries                                             0
                                                         -----
      Balance at end of period                           $ 984
</TABLE>


<PAGE> 8


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 September 30,1997, net worth was $20.8 million, which is
9.02% of assets. At the same date, book value per share was $17.49 compared to
$17.06 at December 31,1996.

The following table summarizes, as of September 30,1997, the regulatory capital
position of our subsidiary, Franklin Savings.

<TABLE>
<CAPTION>

Capital Standard           Actual     Required    Excess     Actual    Required    Excess
                           -------    --------    -------    ------    --------    ------
                                               (Dollars in Thousands)

<S>                        <C>         <C>        <C>         <C>        <C>        <C>
Tangible                   $14,785     $3,380     $11,405     6.56%      1.50%      5.06%
Core                       $14,785     $6,760     $ 8,025     6.56%      3.00%      3.56%
Risk-based                 $15,440     $8,459     $ 6,981    14.60%      8.00%      6.60%
</TABLE>


RESULTS OF OPERATIONS

Net income was $409,000 ($0.33 per share) for the current quarter and
$1,199,000 ($0.98 per share) for the nine months ended September 30, 1997.
During the Third Quarter 1996, Franklin recorded a one-time special assessment
to recapitalize the Savings Association Insurance Fund (SAIF) of $1.15 million.
Excluding this special assessment, net income was $349,000 ($0.29 per share)
for the quarter and $984,000 ($0.81 per share) for the nine months ended
September 30, 1996. After the SAIF assessment, the Company had a net loss of
$410,000 ($0.34 per share) for the Third Quarter 1996 and net income of
$225,000 ($0.18 per share) for the nine month period.

Net interest income, before provisions for loan losses, was $1.47 million for
the current quarter and $4.42 million for the first nine months of 1997
compared to $1.50 million and $4.37 million, respectively, for the same periods
in 1996. The most significant impact on the net interest income between periods
relates to the interaction of changes in the volume of and rates earned or paid
on interest-earning assets and interest-bearing liabilities. 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.

<TABLE>
<CAPTION>
                                                  For the Nine Month Periods 
                                                     ended September 30,
                                                        1997  vs  1996
                                              ----------------------------------
                                                         Increase
                                                        (Decrease)      Total
                                                          due to       Increase
                                              Volume       Rate       (Decrease)
                                              ------    ----------    ----------
                                                    (Dollars in Thousands)

<S>                                           <C>         <C>           <C>
Interest Income Attributable to:
  Loans Receivable (1)                        $  496      $ (34)        $  462
  Mortgage-backed Securities                    (150)        43           (107)
  Investments                                    190         41            231
  FHLB Stock                                       4          2              6
                                              --------------------------------
      Total Interest-earning Assets           $  540      $  52         $  592

Interest Expense Attributable to:
  Demand Deposits                             $   (2)     $ (11)        $  (13)
  Savings Accounts                               (40)         3            (37)
  Certificates                                   617         18            635
  FHLB Advances                                  (47)         0            (47)
                                              --------------------------------
      Total Interest-bearing Liabilities      $  528      $  10         $  538

Increase in Net Interest Income               $   12      $  42         $   54

<FN>
-------------------
<F1>   Includes non-accruing loans.
</FN>
</TABLE>


As the tables below illustrate, average interest-earning assets increased $9.9
million to $219.9 million during the nine months ended September 30,1997 from
$210.0 million for the nine months ended September 30,1996. Average
interest-bearing liabilities increased $11.1 million from $194.1 million for
the nine months ended September 30,1996 to $205.2 for the current nine 'month
period. Thus, average net interest-earning assets decreased $1.2 million when
comparing the two periods. The interest rate spread (the yield on
interest-earning assets less the cost of interest-bearing liabilities) was
2.34% for the nine months ended September 30, 1997 compared to 2.40% for the
same period in 1996. The decline in the interest rate spread was the result of
an increase in the cost of interest-bearing liabilities from 5.01% for the nine
months ended September 30, 1996 to 5.09% for the same nine month period during
1997.


<PAGE> 9


<TABLE>
<CAPTION>
                                             For the Nine Months ended 
                                                September 30, 1997
                                            ---------------------------
                                              Average
                                            Outstanding      Yield/cost
                                            -----------      ----------
                                                  ($ in thousands)

<S>                                          <C>                <C>
Average interest-earning assets
  Loans                                      $ 153,192          7.91%
  Mortgage-backed securities                    37,220          6.73%
  Investments                                   27,753          5.75%
  FHLB stock                                     1,746          7.10%
      Total                                  $ 219,911          7.43%

Average interest-bearing liabilities
  Demand deposits                            $  23,375          2.16%
  Savings accounts                              22,969          2.76%
  Certificates                                 152,558          5.83%
  FHLB advances                                  6,293          6.46%
      Total                                  $ 205,195          5.09%

Net interest-earning assets                  $  14,716          2.34%


<CAPTION>
                                             For the Nine Months ended
                                                September 30, 1996
                                            ---------------------------
                                              Average
                                            Outstanding      Yield/cost
                                            -----------      ----------
                                                  ($ in thousands)

<S>                                          <C>                <C>
Average interest-earning assets
  Loans                                      $ 144,828          7.94%
  Mortgage-backed securities                    40,172          6.59%
  Investments                                   23,300          5.52%
  FHLB stock                                     1,675          6.93%
     Total                                   $ 209,975          7.41%

Average interest-bearing liabilities
  Demand deposits                            $  23,467          2.23%
  Savings accounts                              24,902          2.74%
  Certificates                                 138,444          5.82%
  FHLB advances                                  7,261          6.46%
     Total                                   $ 194,074          5.01%

Net interest-earning assets                  $  15,901          2.40%
</TABLE>


<PAGE> 10


Noninterest income was $171,000 for the quarter and $423,000 for the nine
months ended September 30,1997 compared to $132,000 for the same quarter in
1996 and $356,000 for nine months ended September 30, 1996. The increase in
income when comparing the three and nine month periods is the result of an
increase in profits on the sale of loans.

Noninterest expenses were $1.01 million for the current quarter and $2.99
million for the current nine month period compared to $2.22 million and $4.33
million for the three and nine month periods ended September 30,1996. As a
percentage of average assets, this is 1.75% for the current nine month period
compared to 1.96% for the first nine months of 1996, excluding the SAIF special
assessment.


<PAGE> 11


PART II

                        FIRST FRANKLIN CORPORATION AND SUBSIDIARY

Item 1.  LEGAL PROCEEDINGS

         There are no material pending legal proceedings to which the
         holding 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 September 25, 1997
         B.  Press Release Dated October 16, 1997


Item 6.  EXHIBITS AND REPORTS ON FORM 8-K

         None


<PAGE> 12


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



September 25, 1997


FOR IMMEDIATE RELEASE

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


The Board of Directors of First Franklin Corporation declared a dividend of 
$.10 per share payable October 20,1997 to shareholders of record October 
3,1997. This dividend, the thirty-sixth consecutive paid by the Company, is a 
25% increase over the dividend paid in the previous quarter.

First Franklin is the parent organization of Franklin Savings, which has 
seven offices in Greater Cincinnati.


<PAGE> 13


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



October 16,1997


FOR IMMEDIATE RELEASE

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


First Franklin Corporation, the parent of Franklin Savings and Loan Company, 
Cincinnati, Ohio today announced earnings of $409,000 ($0.33 per share) for 
the third quarter of 1997 and $1,199,000 (0.98 per share) for the first nine 
months of the year. This compares to earnings, excluding a special assessment 
to recapitalize the Savings Association Insurance Fund (SAIF) of $1.15 
million, of $349,000 ($0.29 per share) for the third quarter of 1996 and 
$984,000 ($0.81 per share) for the nine months ended September 30,1996. After 
the SAIF assessment, the Company had a net loss of $410,000 ($0.34 per share) 
for the third quarter of 1996 and net income of $225,000 ($0.18 per share) for 
the first nine months of 1996.

First Franklin conducts its business through its subsidiary, Franklin Savings,
with seven full service offices located in Greater Cincinnati.


<PAGE> 14


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.


                                    FIRST FRANKLIN CORPORATION


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



Date: November 1, 1997


<PAGE> 15