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, 1995

[ ] 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)

                 401 East Court Street Cincinnati, Ohio 45202
                   (Address of Principal Executive Offices)

              Registrant's Telephone Number, including Area Code
                                (513) 721-1031

     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, 1995,  there were issued and  outstanding  1,175,786
shares of the Registrant's Common Stock.

                Transitional Small Business Format (check one)
                             Yes [ ]       NO [X]
<PAGE>

                   FIRST FRANKLIN CORPORATION AND SUBSIDIARY

                                     INDEX

                                                                     Page No.


Part I    Financial Information

Item 1.   Consolidated Balance Sheets -
             September 30, 1995 and December 31, 1994 ................. 3


             Consolidated Statements of Operations and Retained
             Earnings - Three and Nine Month Periods ended
             September 30, 1995 and 1994 .............................. 4

             Consolidated Statements of Cash Flows -
             Nine Month Periods ended September 30, 1995 and .......... 6

             Notes to Consolidated Financial Statements ............... 8


Item 2.  Management's Discussion and Analysis of Financial
                 Condition and Results of Operations .................. 9


Part II    Other Information ......................................... 15

Item 5.  Press Release Dated September 26, 1995 ...................... 16
         Press Release Dated October 12, 1995 ........................ 17


Signatures
<PAGE>
Part I - Item 1.
                   FIRST FRANKLIN CORPORATION AND SUBSIDIARY
                          CONSOLIDATED BALANCE SHEETS
                            (Dollars in thousands)
                                                           Sept 30,      Dec 31,
                                                            1995          1994
                                                         (Unaudited)
     ASSETS
Cash, including CD's & other interest-earning
  deposits of $6,516 and $827 at 09/30/95
  and 12/31/94, respectively .........................   $  11,818    $   2,883
Investment securities
  Available-for-sale, at market value
     (amortized cost of $16,397 and $14,899, .........      16,046       13,747
     respectively)
  Held-to-maturity, at amortized cost
     (market value of $977 and $933, respectively)....         881          881
Mortgage-backed securities
  Available-for-sale, at market value
     (amortized cost of $19,822 and $21,543, .........      20,043       20,742
     respectively)
  Held-to-maturity, at amortized cost
    (market value of $18,195 and $13,100,    .........      18,747       14,583
    respectively)
Loans receivable, net ................................     137,194      134,170
Real estate owned, net ...............................           0            0
Stock in Federal Home Loan Bank
  of Cincinnati, at cost .............................       1,621        1,649
Accrued interest receivable ..........................       1,258        1,021
Property and equipment, net ..........................         901          985
Other assets .........................................       1,158        1,729
                                                         ---------    ---------
                                                         $ 209,667    $ 192,390
                                                         =========    =========
     LIABILITIES
Savings accounts .....................................   $ 183,457    $ 172,502
Borrowings ...........................................       5,457          596
Advances by borrowers for taxes
  and insurance ......................................         725        1,114
Other liabilities ....................................         232          326
                                                         ---------    ---------
     Total liabilities ...............................     189,871      174,538
                                                         ---------    ---------
     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; 1,267,664
   shares issued at 09/30/95 and 1,255,464
   at 12/31/94 .......................................          13           13
Additional paid in capital ...........................       5,826        5,765
Treasury stock, at cost- 91,878 shares at
 09/30/95 and 12/31/94 ...............................        (442)        (442)
Unrealized loss on available-for-sale securities,
  net of taxes of $44 at 09/30/95 and $663 at                  (86)      (1,289)
  12/31/94............................................
Retained earnings, substantially restricted ..........      14,485       13,805
                                                         ---------    ---------
     Total stockholders' equity ......................      19,796       17,852
                                                         ---------    ---------
                                                         $ 209,667    $ 192,390
                                                         =========    =========

   The accompanying  notes are an integral part of the consolidated  financial 
statements.
                                                                        Page 3
<PAGE>
<TABLE>

                   FIRST FRANKLIN CORPORATION AND SUBSIDIARY
          CONSOLIDATED STATEMENTS OF OPERATIONS AND RETAINED EARNINGS
                            (Dollars in thousands)
                                                                For The Three Months Ended             For The Nine Months Ended
                                                             Sept 30, 1995      Sept 30, 1994      Sept 30, 1995       Sept 30, 1994
                                                                       (Unaudited)                           (Unaudited)
<S>                                                               <C>                <C>                <C>                <C>     
Interest income:
  Loans receivable .....................................          $  2,730           $  2,480           $  8,066           $  7,588
  Mortgage-backed securities ...........................               544                520              1,615              1,548
  Investment securities ................................               394                247              1,000                729
                                                                  --------           --------           --------           --------
                                                                     3,668              3,247             10,681              9,865
Interest expense:                                                 --------           --------           --------           --------
  Savings accounts .....................................             2,299              1,852              6,469              5,472
  Borrowings ...........................................                19                 20                 47                 57
                                                                  --------           --------           --------           --------
                                                                     2,318              1,872              6,516              5,529
                                                                  --------           --------           --------           --------
     Net interest income ...............................             1,350              1,375              4,165              4,336

Provision for loan losses ..............................                 5                  0                 20                 62
     Net interest income after                                    --------           --------           --------           --------
       provision for loan losses .......................             1,345              1,375              4,145              4,274
Noninterest income:                                               --------           --------           --------           --------
  Gain on loans sold ...................................                 5                  5                  7                 22
  Service fees on NOW accounts .........................                51                 52                155                157
  Other income .........................................                42                 44                106                210
                                                                  --------           --------           --------           --------
                                                                        98                101                268                389
Noninterest expenses:                                             --------           --------           --------           --------
  Salaries and employee benefits .......................               408                439              1,247              1,287
  Occupancy expense ....................................               142                138                434                433
  Federal insurance premiums ...........................               100                 99                300                308
  Service bureau expense ...............................                68                 64                198                190
  Other expenses .......................................               262                274                849                943
                                                                  --------           --------           --------           --------
                                                                       980              1,014              3,028              3,161
                                                                  --------           --------           --------           --------
Income before federal income taxes .....................               463                462              1,385              1,502

Provision for federal income taxes .....................               155                152                458                500
                                                                  --------           --------           --------           --------
     Net Income ........................................          $    308           $    310           $    927           $  1,002

Continued         The accompanying notes are an integral part of the consolidated financial statements.                       Page 4
<PAGE>

                                                                For The Three Months Ended             For The Nine Months Ended
                                                             Sept 30, 1995      Sept 30, 1994      Sept 30, 1995       Sept 30, 1994
                                                                        (Unaudited)                           (Unaudited)


<S>                                                               <C>                <C>                <C>                <C>     
RETAINED EARNINGS-BEGINNING OF PERIOD ..................          $ 14,259           $ 13,363           $ 13,805           $ 12,816
  Net income ...........................................               308                310                927              1,002
  Less: dividends declared .............................               (82)               (73)              (247)              (218)
                                                                  --------           --------           --------           --------
RETAINED EARNINGS-END OF PERIOD ........................          $ 14,485           $ 13,600           $ 14,485           $ 13,600


EARNINGS PER COMMON SHARE (in dollars) .................          $   0.25           $   0.25           $   0.75           $   0.82

DIVIDENDS DECLARED PER
 COMMON SHARE (in dollars) .............................          $   0.07           $ 0.0625           $   0.21           $ 0.1875

</TABLE>

     The accompanying notes are an integral part of the consolidated financial
statements.
                                                                        Page 5
<PAGE>
                   FIRST FRANKLIN CORPORATION AND SUBSIDIARY
                     CONSOLIDATED STATEMENTS OF CASH FLOWS
                            (Dollars in thousands)

                                                       For The Nine Months Ended
                                                            Sept 30,    Sept 30,
                                                              1995        1994 
                                                                 (Unaudited)
Cash provided by (used in) operating activities:

Net income ...........................................    $    927     $  1,002

Adjustments to reconcile net income
  to net cash  provided by (used in)
  operating activities:

    Provision for loan losses ........................          20           62
    Depreciation and amortization ....................         149          185
    FHLB stock dividend ..............................         (80)         (68)
    Loss (gain) on sale of real estate owned .........          75          (41)
    Increase in accrued interest receivable ..........        (237)        (191)
    Decrease in deferred loan fees ...................        (226)        (159)
    Decrease (increase) in other assets ..............         571         (395)
    Increase (decrease) in other liabilities .........         (94)         101
    Other, net .......................................      (1,252)         389
    Loans sold .......................................         655        3,842
    Disbursements on loans originated for sale .......        (655)      (1,904)
                                                            ------       ------ 
Net cash provided by (used in) operating .............        (147)       2,823
    activities                                              ------       ------

Cash provided by (used in) investing activities:
  Loan principal reductions ..........................      20,414       22,617
  Disbursements on mortgage and other
     loans for investment ............................     (22,892)     (24,471)
  Repayments on mortgage-backed
     securities ......................................       3,127        4,385
  Purchase of available-for-sale mortgage-backed
     securities ......................................        (500)      (2,635)
  Purchase of available-for-sale investment ..........      (1,998)      (1,498)
  Purchase of held-to-maturity mortgage-backed
     securities ......................................      (5,101)
  Proceeds from  the maturity of
    available-for-sale investment securities .........         500        1,000
  Proceeds from  the maturity of
    held-to-maturity investment securities ...........                       10
  Proceeds from redemption of Federal Home
    Loan Bank stock ..................................         109          187
  Proceeds from the sale of real estate owned.........         219          765
  Capital expenditures ...............................         (37)         (78)
                                                            ------       ------
Net cash provided by (used in) investing act .........      (6,159)         282
                                                            ------       ------
                                   Continued
                                                    
     The accompanying notes are an integral part of the consolidated financial
statements.
                                                                        Page 6
<PAGE>

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

                                                       For The Nine Months Ended
                                                          Sept 30,      Sept 30,
                                                           1995           1994
                                                               (Unaudited)

Cash provided by (used in) financing activities:
  Net decrease in passbook accounts and
    demand deposits ................................       (6,424)       (9,042)
  Proceeds from sales of certificates
    of deposit .....................................       57,455        31,379
  Payments for maturing certificates
    of deposit .....................................      (40,076)      (24,781)
  Proceeds from (repayment of) borrowed money.......        4,861          (693)
  Decrease in advances by borrowers
     for taxes and insurance .......................         (389)         (422)
  Proceeds from sale of common stock ...............           61            20
  Payment of dividends .............................         (247)         (218)
                                                           ------        ------
Net cash provided by (used in) financing activities.       15,241        (3,757)
                                                           ------        ------
Net increase (decrease) in cash ....................     $  8,935      ($   652)
Cash at beginning of period ........................        2,883         7,358
                                                           ------        ------
CASH AT END OF PERIOD ..............................     $ 11,818      $  6,706



                                                    
   The accompanying  notes are an integral part of the consolidated  financial
statements.
                                                                        Page 7
<PAGE>

                   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, 1995 are not necessarily  indicative of
the results  that may be expected  for the full year.  The  December  31, 1994
Balance Sheet data was derived from audited Financial Statements, but does not
include all disclosures required by generally accepted accounting principles.

NOTE 2:   STOCK SPLIT

     On January 10, 1995, a two-for-one stock split took place. All references
in the  accompanying  financial  statements to the number of common shares and
per share amounts have been adjusted to reflect the stock split. Common shares
and paid-in capital have also been adjusted to reflect the split.

                                                                        Page 8
<PAGE>

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") 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 to be  outstanding  upon its  conversion  from the mutual to stock
form of ownership. This conversion was completed January 25, 1988.

     As a Delaware corporation,  First Franklin is authorized to engage in any
activity permitted by Delaware General Corporate 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  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. Beginning in March 1995, Franklin initiated
a program to provide  its  customers  access to mutual  funds,  annuities  and
brokerage services in its offices. 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.

     Franklin has one  subsidiary,  Madison Service  Corporation  ("Madison").
Madison  was formed on  February  22,1972 by  Franklin  which owns 100% of its
outstanding  stock.  At the  present  time,  Madison's  only  activity  is the
servicing of a multi-family  mortgage loan.  Madison had net income of $11,429
for 1994 and $3,300 for the nine months ended  September  30,  1995.  The 1994
income  includes  the  collection  of  $10,000  in  non-recurring  fees on the
multi-family loan which Madison services.

     DirectTeller  was formed in 1989 by the  Company and  DataTech  Services,
Inc.  to  develop  and market a voice  response  and fax  retrieval  telephone
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 installed at Intrieve,  a computer service bureau which  specializes
in  financial  institutions.  The  system is  currently  operational  at 26 of
Intrieve's clients in 10 states servicing  approximately 575,000 accounts. The
agreement with Intrieve gives  DirectTeller a percentage of the future profits
generated by the inquiry system.

                                                                        Page 9
<PAGE>

     Payments   during  1995  under  this  agreement  have  totalled   $9,800.
DirectTeller  is continuing to market this system.  First Franklin owns 51% of
DirectTeller's outstanding common stock. The Company's share of DirectTeller's
net profit for the nine months ended  September  30, 1995 was $6,400.  For the
year ended December 31, 1994 the Company's share of  DirectTeller's  operating
loss was $1,738.

     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.


FINANCIAL CONDITION, LIQUIDITY AND CAPITAL RESOURCES

     Consolidated assets increased $17.3 million (9.0%) from $192.4 million at
December 31, 1994 to $209.7 million at September 30, 1995,  compared to a $3.3
million (1.7%) decrease for the same period in 1994.  During the Third Quarter
1995 assets  increased  $10.1 million (5.1%) compared to a $6.7 million (3.5%)
increase during the same quarter in 1994.

     Loan  disbursements  were $23.5  million  during the current  nine months
compared to $26.4  million  during the nine months ended  September  30, 1994.
Disbursements  were $11.5  million  during the Third  Quarter 1995 compared to
$7.9  million  during  the same  quarter  in 1994.  Based  on  current  market
conditions and seasonal  factors,  it is anticipated  that loan  disbursements
will  decline  during the fourth  quarter from levels  experienced  during the
current  quarter.  At September 30, 1995,  commitments  to originate  mortgage
loans or purchase  mortgage-backed  securities were $2.6 million.  At the same
date,  $2.4  million  of  undisbursed  loan  funds  were being held on various
construction  loans.   Management  believes  that  sufficient  cash  flow  and
borrowing  capacity exist to fund these  commitments.  To maintain a favorable
match  between  the assets and  liabilities  maturing  or  repricing  during a
specific period,  Franklin may buy mortgage-backed  securities or sell some of
the mortgage loans that it originates,  mortgage-backed  securities being held
in its  available-for-sale  portfolio and adjustable rate loans that have used
their  conversion  privilege  to  convert  to a fixed  rate  loan.  Demand for
adjustable rate mortgage loans has been strong during the first nine months of
1995,  therefore,  sales of fixed  rate  mortgage  loans  have  been less than
experienced during previous years.  During the current nine month period, $5.1
million  of  fixed  rate  and  $500,000  of  adjustable  rate  mortgage-backed
securities  were  purchased.   During  the  same  period  no   mortgage-backed
securities were sold.

     Liquid  assets  increased  $11.2  million  during the nine  months  ended
September 30, 1995 to $28.7 million. This is due to an increase in deposits of
$11.0  million.  At December 31, 1994 liquid assets  maturing in less than six
months did not offer sufficient  protection  against an increase in short term
cash needs,  therefore,  the increase in savings deposits was used to increase
fed funds and other  short term  investments.  At  September  30,  1995 liquid
assets were 13.7% of total assets.

     The Company adopted SFAS No. 115 as of January 1, 1994 and investment and
mortgage-backed  securities  were  classified  based on the Company's  current
intention to hold to maturity or have  available for sale,  if  necessary.  No
securities  were  classified as trading.  The following  table shows the gross
unrealized  gains or  losses  on  mortgage-backed  securities  and  investment
securities  as of September  30, 1995.  During the current nine month  period,
there have been no sales of investments or mortgage-backed securities.

                                                                       Page 10
<PAGE>
                                    Amortized   Market   Unrealized   Unrealized
                                      Cost      Value      Gains        Losses
                                                 (in thousands)

 Available-for-sale
    Investment securities           $16,397     $16,046        $1        $352
    Mortgage-backed securities      $19,822     $20,043      $235         $14
 Held-to-maturity
    Investment securities              $881        $977       $96          $0
    Mortgage-backed securities      $18,747     $18,195        $0        $552


     At September 30, 1995 savings  deposits were $183.5  million  compared to
$172.5  million at December  31,  1994.  This is an increase of $11.0  million
during the current nine month period and $4.5 million during the quarter ended
September  30,  1995.  The  increase  during the quarter and nine month period
reflects more competitive pricing on certificates to retain funds currently in
passbook savings and money market accounts,  and to attract new funds.  During
the nine months ended  September  30, 1995,  core  deposits  (transaction  and
passbook savings accounts)  decreased $6.4 million.  A substantial  portion of
these funds were  transferred to certificates  of deposit,  which caused short
term  certificates  (two  years or  less) to  increase  by $15.9  million  and
certificates  with  original  terms  greater  than two years to increase  $1.5
million.  Interest of $2.1  million  for the quarter and $5.8  million for the
nine month period was credited to accounts.  After  eliminating  the effect of
interest credited,  savings increased $2.4 million during the three months and
$5.2 million during the nine months ended September 30, 1995.

     At  September  30, 1995  borrowings  consisted of $5.5 million in Federal
Home Loan Bank advances.  During the current quarter,  Franklin  obtained $5.0
million of 15 year fixed rate  advances at 6.35% and  invested the proceeds in
30 year fixed rate  mortgage-backed  securities  yielding 7.30%,  all of which
were classified as held-to-maturity.

     At  September   30,  1995,   $1.1  million  of  assets  were   classified
substandard,  $300,000  classified loss and $3.0 million classified as special
mention  compared to $1.9  million as  substandard,  $577,000 as loss and $2.9
million as special  mention at December  31, 1994.  Non-accruing  and accruing
loans  delinquent  ninety days or more at both September 30, 1995 and December
31, 1994 were $1.1 million.  During the remainder of 1995,  continued emphasis
will be placed on the collection process to reduce the amount of these loans.

     In  management's  opinion,  adequate  reserves  are  available to protect
against  reasonably  foreseeable losses that may occur on loans or repossessed
assets.  Based on the credit  quality of the loan  portfolio and  management's
belief  that the level of general  reserves  is  adequate  to protect  against
reasonably  foreseeable  losses,  the charges against current  operations were
reduced as compared to previous years.  The following table shows the activity
that has occurred on loss reserves  during the nine months ended September 30,
1995. The $339,000 in charge offs includes $253,000 on loans, mostly consumer,
which had previously had specific reserves  established against them that were
determined to be uncollectible and charged off.

                                               (in thousands)
                 Balance at beginning of per       $1,256
                 Charge offs                          339
                 Additions charged to operations       20
                 Recoveries                             0
                                                   ------
                 Balance at end of period            $937

                                                                       Page 11
<PAGE>

     First  Franklin  continues  to  enjoy a strong  net  worth  position.  At
September 30, 1995, net worth was $19.8 million,  which is 9.4% of assets.  At
the same date, book value per share was $16.84 compared to $15.60 at September
30, 1994.  The  following  table  summarizes,  as of September  30, 1995,  the
regulatory capital position of our subsidiary, Franklin Savings.

Capital Standard    Actual    Required    Excess    Actual    Required    Excess
                                (in thousands)
Tangible           $13,881     $3,080     $10,801     6.76%     1.50%     5.26%
Core               $13,881     $6,160      $7,721     6.76%     3.00%     3.76%
Risk-based         $14,517     $7,410      $7,107    15.67%     8.00%     7.67%

     The deposit accounts of Franklin  Savings and other savings  institutions
are  insured by the  Federal  Deposit  Insurance  Corporation  ("FDIC") in the
Savings  Association  Insurance  Fund  ("SAIF").  The reserves of the SAIF are
below  the  level  required  by law,  because  a  significant  portion  of the
assessments  paid  into the  fund  are  used to pay the  cost of prior  thrift
failures.  The deposit accounts of commercial banks are insured by the FDIC in
the Bank Insurance Fund ("BIF"), except to the extent such banks have acquired
SAIF  deposits.  The reserves of the BIF met the level  required by law in May
1995.  As a result of the  respective  reserve  levels of the  funds,  deposit
insurance  assessments paid by healthy savings  associations exceed those paid
by healthy commercial banks by approximately $0.19 per $100 in deposits.  This
premium disparity could have a negative competitive impact on Franklin Savings
and other institutions in the SAIF.

     Congress  is  considering   legislation  to  recapitalize  the  SAIF  and
eliminate the significant premium disparity.  Currently that  recapitalization
plan provides for a special  assessment of approximately $.85 per $100 of SAIF
deposits  held at March 31, 1995,  in order to increase  SAIF  reserves to the
level required by law. In addition, the cost of prior thrift failures would be
shared  by  both  the  SAIF  and the  BIF.  This  would  likely  increase  BIF
assessments by $0.02 to $0.025 per $100 in deposits.  SAIF  assessments  would
initially  be set at the same  level as BIF  assessments  and  could  never be
reduced  below that level.  These  projected  assessment  levels may change if
commercial  banks  holding SAIF  deposits  are  provided  some relief from the
special assessment or are allowed to transfer to the BIF.

     The last part of the recapitalization plan provides for the merger of the
SAIF  and  BIF  on  January  1,  1998.  However,  the  SAIF   recapitalization
legislation currently provides for the elimination of the thrift charter or of
the separate federal  regulation of thrifts prior to the merger of the deposit
insurance  funds.  Franklin Savings would have to convert to a bank charter or
be  regulated  as a bank.  As a result,  it would  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.  If  Franklin
Savings is required to convert to a commercial bank charter,  it would have to
recapture  approximately $3.1 million of its bad debt reserve, unless Congress
amends  those  recapture  provisions.  Such  a  proposal  is  currently  under
consideration.  That proposal would eliminate the special thrift method of tax
accounting  for bad debt  reserves,  which  Franklin  Savings  has  relied on,
effective in 1996. In addition,  with any such conversion by Franklin Savings,
First Franklin would become a bank holding company,  which would subject it to
more restrictive  activity limits and to capital requirements similar to those
imposed on Franklin Savings.

     Franklin  Savings had $174 million in deposits at March 31, 1995.  If the
special assessment is $.85 per $100 in deposits,  Franklin Savings will pay an
additional  assessment  of $1.5  million on January 1, 1996.  This  assessment
should be  tax-deductible,  but it will reduce  earnings  and  capital.  It is
expected that  quarterly SAIF  assessments  for early 1996 would be reduced to
approximately $.06 to $.065 per $100 in deposits.

                                                                       Page 12
<PAGE>

     No assurances  can be given that the SAIF  recapitalization  plan will be
enacted  into  law or in  what  form it may be  enacted.  In  addition,  First
Franklin  can give no  assurances  that  the  disparity  between  BIF and SAIF
assessments  will be  eliminated  and  cannot be  certain of the impact of its
being regulated as a bank holding company, Franklin Savings being converted to
a bank or the  change  in tax  accounting  for bad  debt  reserves  until  the
legislation requiring such changes is enacted.

RESULTS OF OPERATIONS

     Net income remained  relatively  stable at $308,000 ($0.25 per share) for
the three months ended  September 30, 1995 from $310,000 ($0.25 per share) for
the same  quarter in 1994.  Net income  declined  7.5% to $927,000  ($0.75 per
share) for the current nine month period from $1,002,000 ($0.82 per share) for
the nine months ended September 30, 1994.

     Net interest income, before provisions for loan losses, was $1.35 million
for the current  quarter and $4.17  million for the first nine months of 1995.
For the  same  periods  in 1994,  it was  $1.38  million  and  $4.34  million,
respectively.  The  decline  during  the  current  nine  months  reflects  the
collection of $120,000 in interest on a non-accruing  multi-family  loan which
became  current  during the quarter  ended March 31, 1994. As the tables below
illustrate,  average  interest-earning assets increased $3.9 million to $191.7
million  during the nine months ended  September 30, 1995 from $187.8  million
for the year ended  December 31, 1994.  Average  interest-bearing  liabilities
increased  $4.3  million from $173.9  million for the year ended  December 31,
1994  to  $178.2  for  the  current  nine  month  period.  Thus,  average  net
interest-earning  assets  decreased  $400,000.  The interest  rate spread (the
yield  on   interest-earning   assets   less  the  cost  of   interest-bearing
liabilities)  decreased  from 2.76% for the year ended  December  31,  1994 to
2.55% for the current nine month period.  This decrease in the spread reflects
an  increase in the cost of funds from 4.32% for the year ended  December  31,
1994 to 4.88% for the nine  months  ended  September  30,  1995.  The yield on
interest-earning  assets  increased from 7.08% for the year ended December 31,
1994 to 7.43% for the nine month period ended September 30, 1995.

                                    For the nine months ended September 30, 1995
                                              Average
                                            Outstanding          Yield/cost
                                          ($ in thousands)
    Average interest-earning assets
       Loans                                  $133,855             8.03%
       Mortgage-backed securities               35,246             6.11%
       Investments                              20,985             5.85%
       FHLB stock                                1,600             6.75%
                                              --------                  
         Total                                $191,686             7.43%
                                              --------                  
    Average interest-bearing liabilities
       Demand deposits                         $23,891             2.46%
       Savings accounts                         26,132             2.76%
       Certificates                            127,091             5.76%
       FHLB advances                             1,061             5.15%
       Other borrowings                              0             0.00%
                                              --------                  
         Total                                $178,175             4.88%
                                              --------                  
  Net interest-earning assets                  $13,511             2.55%

                                                                       Page 13
<PAGE>
                                            For the year ended December 31, 1994
                                              Average
                                            Outstanding          Yield/cost
                                          ($ in thousands)
    Average interest-earning assets
       Loans                                  $130,839             7.81%
       Mortgage-backed securities               37,947             5.44%
       Investments                              17,403             5.24%
       FHLB stock                                1,643             5.72%
                                              --------            
         Total                                $187,832             7.08%
                                              --------            
    Average interest-bearing liabilities
       Demand deposits                         $28,446             2.49%
       Savings accounts                         34,155             2.79%
       Certificates                            110,426             5.24%
       FHLB advances                               830             8.67%
       Other borrowings                             17
                                              --------
         Total                                $173,874             4.32%
                                              --------
  Net interest-earning assets                  $13,958             2.76%


     Noninterest  income was $98,000 for the quarter and $268,000 for the nine
months ended  September  30, 1995 compared to $101,000 for the same quarter in
1994 and $389,000 for the nine months ended  September 30, 1994.  The majority
of the decrease during the nine month period is attributable to a reduction in
loan fees,  late  charges and profits on the sale of fixed rate loans and real
estate owned.  As discussed  previously,  demand for adjustable  rate mortgage
loans remains strong,  therefore  management  anticipates that loan sales will
remain at levels lower than those experienced during recent years.

     Noninterest  expenses  were  $980,000  for the current  quarter and $3.03
million for the current nine month period  compared to $1.01 million and $3.16
million for the three and nine month  periods  ended  September 30, 1994. As a
percentage of average assets,  this is 2.03% for the current nine month period
compared to 2.17% for the first nine months of 1994.
                                                                       Page 14
<PAGE>

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 26, 1995

September 26, 1995
FOR IMMEDIATE RELEASE
CONTACT:   Thomas H. Siemers
           President and CEO
           721-0808

     Thomas H. Siemers,  President and CEO of First Franklin Corporation,  has
announced  that the Board of  Directors  has  declared a dividend of $0.07 per
share  for the  third  quarter  of 1995.  This is the  twenty-eighth  straight
quarterly  dividend  declared by the Board.  The  quarterly  dividend  will be
payable on October 16, 1995 to shareholders of record as of October 6.

     First Franklin is the parent organization of Franklin Savings,  which has
seven offices in Greater  Cincinnati and assets of  $198,356,000  as of August
31, 1995.


            B.  Press Release Dated October 12, 1995

FOR IMMEDIATE RELEASE
CONTACT:   Thomas H. Siemers
           President and CEO
           721-0808

     First  Franklin  Corporation,  the parent of  Franklin  Savings  and Loan
Company,  Cincinnati,  Ohio  announced  today  earnings of $308,000  ($.25 per
share)  for the third  quarter of 1995 and  $927,000  ($.75 per share) for the
first nine months of the year. This compares to earnings of $310,000 ($.25 per
share) for the third quarter of 1994 and  $1,002,000  ($.82 per share) for the
nine months ended September 30, 1994.

     First  Franklin  conducts its business  through its  subsidiary  Franklin
Savings, with seven full service offices located in Hamilton County, Ohio.


Item 6.  EXHIBITS AND REPORTS ON FORM 8-K

         Exhibit 27.   Financial Data Schedule

                                                                       Page 15
<PAGE>
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



                                            Daniel T. Voelpel
                                            Vice President and
                                            Chief Financial Officer

Date: October 1, 1995

                                                                       Page 16