##### Table of Contents



UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
 Washington, D.C. 20549
 FORM 10-QSB
  þ
    
    QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
 For the quarterly period ended September 30, 2007
 OR
 o
    
    TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE EXCHANGE ACT
 For the transition period from  to
 Commission file number: 0-51153
 FEDFIRST FINANCIAL CORPORATION
 
 United States
    
    25-1828028(State or other jurisdiction of incorporation or organization)
    
    (IRS Employer Identification No.)
 Donner at Sixth Street, Monessen, Pennsylvania
    
    15062(Address of principal executive offices)
    
    (Zip Code)
 
 þ o
 o þ
  o þ




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##### 



FORM 10-QSB
 INDEX
 PagePART I. FINANCIAL INFORMATIONItem 1. Financial Statements
    
    
    1Consolidated Statements of Financial Condition at September 30, 2007 (Unaudited) and December 31, 2006
    
    
    1Consolidated Statements of (Loss) Income for the Three and Nine Months Ended September 30, 2007 and 2006 (Unaudited)
    
    
    2Consolidated Statements of Changes in Stockholders Equity and Comprehensive (Loss) Income for the Nine Months Ended September 30, 2007 and 2006 (Unaudited)
    
    
    3Consolidated Statements of Cash Flows for the Nine Months Ended September 30, 2007 and 2006 (Unaudited)
    
    
    4Notes to the Unaudited Consolidated Financial Statements
    
    
    5Item 2. Managements Discussion and Analysis or Plan of Operation
    
    
    11Item 3. Controls and Procedures
    
    
    22PART II. OTHER INFORMATIONItem 1. Legal Proceedings
    
    
    22Item 2. Unregistered Sales of Equity Securities and Use of Proceeds
    
    
    23Item 3. Defaults Upon Senior Securities
    
    
    23Item 4. Submission of Matters to a Vote of Security Holders
    
    
    23Item 5. Other Information
    
    
    23Item 6. Exhibits
    
    
    24Signatures
    
    
    25EX-31.1EX-31.2EX-32.1EX-32.2




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##### Table of Contents



PART I  FINANCIAL INFORMATION
 
 Item 1. Financial Statements.
 
 CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION
 September 30,
    
    December 31,2007
    
    2006(Dollars in thousands)
    
    (UNAUDITED)AssetsCash and cash equivalents:Cash and due from banks
    
    $
    1,560
    
    
    $
    1,561Interest-earning deposits
    
    
    3,461
    
    
    
    2,938Total cash and cash equivalents
    
    
    5,021
    
    
    
    4,499Securities available-for-sale
    
    
    77,406
    
    
    
    83,045Loans, net
    
    
    186,850
    
    
    
    174,718Federal Home Loan Bank (FHLB) stock, at cost
    
    
    4,536
    
    
    
    4,901Accrued interest receivable  loans
    
    
    1,022
    
    
    
    1,033Accrued interest receivable  securities
    
    
    537
    
    
    
    559Premises and equipment, net
    
    
    3,047
    
    
    
    2,162Bank-owned life insurance
    
    
    7,471
    
    
    
    7,259Goodwill
    
    
    1,080
    
    
    
    1,080Real estate owned
    
    
    1,210
    
    
    
    569Other assets
    
    
    412
    
    
    
    1,165Deferred tax assets and tax credit carryforwards
    
    
    2,725
    
    
    
    2,527Total assets
    
    $
    291,317
    
    
    $
    283,517Liabilities and Stockholders EquityDeposits:Noninterest-bearing
    
    
    9,212
    
    
    
    5,409Interest-bearing
    
    
    145,352
    
    
    
    138,086Total deposits
    
    
    154,564
    
    
    
    143,495Borrowings
    
    
    87,606
    
    
    
    89,323Advance payments by borrowers for taxes and insurance
    
    
    211
    
    
    
    254Accrued interest payable  deposits
    
    
    1,142
    
    
    
    1,180Accrued interest payable  borrowings
    
    
    356
    
    
    
    319Other liabilities
    
    
    2,585
    
    
    
    2,521Total liabilities
    
    
    246,464
    
    
    
    237,092Minority interest in subsidiary
    
    
    81
    
    
    
    79Stockholders equity:Preferred stock $0.01 par value; 10,000,000 shares authorized; none issued
    
    
    
    
    
    
    Common stock $0.01 par value; 20,000,000 shares authorized; 6,707,500 shares issued
    
    
    67
    
    
    
    67Additional paid-in-capital
    
    
    29,001
    
    
    
    28,787Retained earnings  substantially restricted
    
    
    19,101
    
    
    
    20,475Accumulated other comprehensive loss, net of deferred taxes of
$(113) and $(475)
    
    
    (176
    )
    
    
    (737
    )Unearned Employee Stock Ownership Plan (ESOP)
    
    
    (2,117
    )
    
    
    (2,246
    )Common stock held in treasury, at cost (118,700 and 0 shares)
    
    
    (1,104
    )
    
    
    Total stockholders equity
    
    
    44,772
    
    
    
    46,346Total liabilities and stockholders equity
    
    $
    291,317
    
    
    $
    283,517
  1




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##### Table of Contents



CONSOLIDATED STATEMENTS OF (LOSS) INCOME (UNAUDITED)
 For the Three Months
    
    For the Nine MonthsEnded September 30,
    
    Ended September 30,(Dollars in thousands, except per share data)
    
    2007
    
    2006
    
    2007
    
    2006Interest income:Loans
    
    $
    2,689
    
    
    $
    2,497
    
    
    $
    7,764
    
    
    $
    7,436Securities
    
    
    1,005
    
    
    
    800
    
    
    
    2,999
    
    
    
    2,394Other interest-earning assets
    
    
    131
    
    
    
    141
    
    
    
    408
    
    
    
    330Total interest income
    
    
    3,825
    
    
    
    3,438
    
    
    
    11,171
    
    
    
    10,160Interest expense:Deposits
    
    
    1,372
    
    
    
    1,094
    
    
    
    3,789
    
    
    
    2,843Borrowings
    
    
    804
    
    
    
    831
    
    
    
    2,569
    
    
    
    2,668Total interest expense
    
    
    2,176
    
    
    
    1,925
    
    
    
    6,358
    
    
    
    5,511Net interest income
    
    
    1,649
    
    
    
    1,513
    
    
    
    4,813
    
    
    
    4,649Provision for loan losses
    
    
    395
    
    
    
    29
    
    
    
    470
    
    
    
    69Net interest income after provision for loan losses
    
    
    1,254
    
    
    
    1,484
    
    
    
    4,343
    
    
    
    4,580Noninterest income:Fees and service charges
    
    
    108
    
    
    
    90
    
    
    
    304
    
    
    
    273Insurance commissions
    
    
    397
    
    
    
    343
    
    
    
    1,328
    
    
    
    1,223Income from bank-owned life insurance
    
    
    70
    
    
    
    68
    
    
    
    212
    
    
    
    206Net loss on sales of securities
    
    
    (2
    )
    
    
    
    
    
    
    (1,412
    )
    
    
    Net gain on sales of real estate owned
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    33Other
    
    
    2
    
    
    
    2
    
    
    
    9
    
    
    
    35Total noninterest income
    
    
    575
    
    
    
    503
    
    
    
    441
    
    
    
    1,770Noninterest expense:Compensation and employee benefits
    
    
    1,485
    
    
    
    1,191
    
    
    
    4,278
    
    
    
    3,518Occupancy
    
    
    301
    
    
    
    217
    
    
    
    832
    
    
    
    622FDIC insurance premiums
    
    
    6
    
    
    
    5
    
    
    
    17
    
    
    
    37Data processing
    
    
    94
    
    
    
    73
    
    
    
    279
    
    
    
    225Other
    
    
    440
    
    
    
    401
    
    
    
    1,339
    
    
    
    1,225Total noninterest expense
    
    
    2,326
    
    
    
    1,887
    
    
    
    6,745
    
    
    
    5,627Minority interest in net income of consolidated subsidiary
    
    
    15
    
    
    
    10
    
    
    
    53
    
    
    
    47(Loss) income before income tax (benefit) expense
    
    
    (512
    )
    
    
    90
    
    
    
    (2,014
    )
    
    
    676Income tax (benefit) expense
    
    
    (165
    )
    
    
    35
    
    
    
    (640
    )
    
    
    233Net (loss) income
    
    $
    (347
    )
    
    $
    55
    
    
    $
    (1,374
    )
    
    $
    443Earnings per share:Basic and diluted
    
    $
    (0.05
    )
    
    $
    0.01
    
    
    $
    (0.21
    )
    
    $
    0.07Weighted-average shares outstanding:Basic
    
    
    6,438,228
    
    
    
    6,381,371
    
    
    
    6,442,220
    
    
    
    6,377,051Diluted
    
    
    6,438,228
    
    
    
    6,430,545
    
    
    
    6,442,220
    
    
    
    6,424,826
  2




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CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS EQUITY AND
COMPREHENSIVE (LOSS) INCOME (UNAUDITED)
 Accumulated
    
    
    
    
    
    
    CommonAdditional
    
    
    
    
    
    
    Other
    
    
    
    
    
    
    Stock
    
    
    TotalCommon
    
    
    Paid-in-
    
    
    Retained
    
    
    Comprehensive
    
    
    Unearned
    
    
    Held in
    
    
    Stockholders
    
    
    ComprehensiveStock
    
    
    Capital
    
    
    Earnings
    
    
    Loss
    
    
    ESOP
    
    
    Treasury
    
    
    Equity
    
    
    Income (Loss)(Dollars in thousands)Balance at January 1, 2006
    
    $
    66
    
    
    $
    28,648
    
    
    $
    20,131
    
    
    $
    (1,026
    )
    
    $
    (2,419
    )
    
    $
    
    
    
    $
    45,400Comprehensive income:Net income
    
    
    
    
    
    
    
    
    
    
    443
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    443
    
    
    $
    443Unrealized gain on securities
available-for-sale
net of tax of $97
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    150
    
    
    
    
    
    
    
    
    
    
    
    150
    
    
    
    150Issuance of common stock
    
    
    1
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    1ESOP shares committed
to be released
    
    
    
    
    
    
    (2
    )
    
    
    
    
    
    
    
    
    
    
    129
    
    
    
    
    
    
    
    127Stock-based compensation
expense
    
    
    
    
    
    
    55
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    55Total comprehensive income
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    $
    593Balance at September 30, 2006
    
    $
    67
    
    
    $
    28,701
    
    
    $
    20,574
    
    
    $
    (876
    )
    
    $
    (2,290
    )
    
    $
    
    
    
    $
    46,176
 Accumulated
    
    
    
    
    
    
    CommonAdditional
    
    
    
    
    
    
    Other
    
    
    
    
    
    
    Stock
    
    
    TotalCommon
    
    
    Paid-in-
    
    
    Retained
    
    
    Comprehensive
    
    
    Unearned
    
    
    Held in
    
    
    Stockholders'
    
    
    ComprehensiveStock
    
    
    Capital
    
    
    Earnings
    
    
    Income (Loss)
    
    
    ESOP
    
    
    Treasury
    
    
    Equity
    
    
    Income (Loss)Balance at January 1, 2007
    
    $
    67
    
    
    $
    28,787
    
    
    $
    20,475
    
    
    $
    (737
    )
    
    $
    (2,246
    )
    
    $
    
    
    
    $
    46,346Comprehensive income:Net loss
    
    
    
    
    
    
    
    
    
    
    (1,374
    )
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    (1,374
    )
    
    $
    (1,374
    )Transfer of securities
held for trading
net of tax of $553
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    857
    
    
    
    
    
    
    
    
    
    
    
    857
    
    
    
    857Unrealized loss on securities
available-for-sale
net of tax of $(191)
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    (296
    )
    
    
    
    
    
    
    
    
    
    
    (296
    )
    
    
    (296
    )Purchase of treasury stock
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    (1,125
    )
    
    
    (1,125
    )ESOP shares committed
to be released
    
    
    
    
    
    
    (10
    )
    
    
    
    
    
    
    
    
    
    
    129
    
    
    
    
    
    
    
    119Stock-based compensation
expense
    
    
    
    
    
    
    246
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    246Stock awards granted
    
    
    
    
    
    
    (51
    )
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    51
    
    
    
    Stock awards forfeited
    
    
    
    
    
    
    29
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    (30
    )
    
    
    (1
    )Total comprehensive (loss)
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    $
    (813
    )Balance at September 30, 2007
    
    $
    67
    
    
    $
    29,001
    
    
    $
    19,101
    
    
    $
    (176
    )
    
    $
    (2,117
    )
    
    $
    (1,104
    )
    
    $
    44,772
  3




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##### Table of Contents



CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED)
 For the Nine MonthsEnded September 30,(Dollars in thousands)
    
    2007
    
    2006Cash flows from operating activities:Net (loss) income
    
    $
    (1,374
    )
    
    $
    443Adjustments to reconcile net (loss) income to net cash provided
by operating activitiesMinority interest in net income of consolidated subsidiary
    
    
    53
    
    
    
    47Provision for loan losses
    
    
    470
    
    
    
    69Depreciation
    
    
    299
    
    
    
    212Net loss on sales of securities
    
    
    1,412
    
    
    
    Proceeds from sales of securities held for trading
    
    
    40,483
    
    
    
    Proceeds from principal repayments of securities held for trading
    
    
    638
    
    
    
    Net gain on sales of real estate owned
    
    
    
    
    
    
    (33
    )Net gain on sale of student loan portfolio
    
    
    
    
    
    
    (26
    )Net (amortization) accretion of security premiums and loan costs
    
    
    (588
    )
    
    
    69Non cash expense for ESOP
    
    
    119
    
    
    
    127Non cash expense for stock-based compensation
    
    
    246
    
    
    
    55Increase in bank-owned life insurance
    
    
    (212
    )
    
    
    (204
    )Decrease (increase) in other assets
    
    
    75
    
    
    
    (145
    )Decrease in other liabilities
    
    
    141
    
    
    
    207Net cash provided by operating activities
    
    
    41,762
    
    
    
    821Cash flows from investing activities:Net loan originations
    
    
    (13,281
    )
    
    
    (5,241
    )Proceeds from sale of student loan portfolio
    
    
    12
    
    
    
    1,224Proceeds from maturities of and principal repayments of
securities available-for-sale
    
    
    13,293
    
    
    
    11,654Proceeds from sales of securities available-for-sale
    
    
    2,569
    
    
    
    Purchases of securities available-for-sale
    
    
    (51,219
    )
    
    
    (12,670
    )Purchases of premises and equipment
    
    
    (1,184
    )
    
    
    (343
    )Decrease in FHLB stock, at cost
    
    
    365
    
    
    
    403Proceeds from sales of other real estate owned
    
    
    
    
    
    
    92Net cash used in investing activities
    
    
    (49,445
    )
    
    
    (4,881
    )Cash flows from financing activities:Net decrease in borrowings
    
    
    (1,717
    )
    
    
    (15,310
    )Net increase in deposits
    
    
    11,069
    
    
    
    17,804(Decrease) increase in advance payments by borrowers for taxes and insurance
    
    
    (43
    )
    
    
    13Stock awards granted, net of forfeits
    
    
    21
    
    
    
    Purchases of treasury stock
    
    
    (1,125
    )
    
    
    Net cash provided by financing activities
    
    
    8,205
    
    
    
    2,507Net increase (decrease) in cash and cash equivalents
    
    
    522
    
    
    
    (1,553
    )Cash and cash equivalents, beginning of period
    
    
    4,499
    
    
    
    6,346Cash and cash equivalents, end of period
    
    $
    5,021
    
    
    $
    4,793Supplemental cash flow information:Cash paid for:Interest on deposits and borrowings
    
    $
    5,844
    
    
    $
    5,306Income tax expense
    
    
    36
    
    
    
    51Transfer of securities from available-for-sale to held for trading
    
    $
    42,531
    
    
    $
    Real estate acquired in settlement of loans
    
    $
    641
    
    
    $
    
  4




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##### Table of Contents



Notes to the Unaudited Consolidated Financial Statements
 Note 1. Basis of Presentation/Nature of Operations
     Note 2. Recent Accounting Pronouncements
 The Fair Value Option for Financial Assets and Financial Liabilities: The Fair Value Option for Financial Assets and Financial Liabilities
 5




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##### Table of Contents



Fair Value Measurements: Fair Value Measurements.
 Note 3. Securities
  September 30, 2007
    
    December 31, 2006Amortized
    
    Fair
    
    Amortized
    
    Fair(Dollars in thousands)
    
    Cost
    
    Value
    
    Cost
    
    ValueSecurities available-for-sale:Government-Sponsored Enterprises
    
    $
    25,070
    
    
    $
    25,056
    
    
    $
    30,475
    
    
    $
    30,036Mortgage-backed
    
    
    24,686
    
    
    
    24,636
    
    
    
    14,892
    
    
    
    14,885REMICs
    
    
    23,892
    
    
    
    23,766
    
    
    
    34,831
    
    
    
    34,121Corporate debt
    
    
    3,998
    
    
    
    3,899
    
    
    
    4,010
    
    
    
    3,954Equities
    
    
    49
    
    
    
    49
    
    
    
    49
    
    
    
    49Total securities available-for-sale
    
    $
    77,695
    
    
    $
    77,406
    
    
    $
    84,257
    
    
    $
    83,045
 6




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##### Table of Contents



Note 4. Loans
  September 30, 2007
    
    December 31, 2006(Dollars in thousands)
    
    Amount
    
    Percent
    
    Amount
    
    PercentReal estate-mortgageOne-to-four family residential
    
    $
    136,237
    
    
    
    71.9
    %
    
    $
    133,821
    
    
    
    75.2
    %Multi-family
    
    
    13,138
    
    
    
    6.9
    
    
    
    18,410
    
    
    
    10.3Commercial
    
    
    14,092
    
    
    
    7.4
    
    
    
    5,437
    
    
    
    3.1Total real estate-mortgage loans
    
    
    163,467
    
    
    
    86.2
    
    
    
    157,668
    
    
    
    88.6Real estate-constructionResidential
    
    
    4,127
    
    
    
    2.2
    
    
    
    5,021
    
    
    
    2.8Commercial
    
    
    
    
    
    
    
    
    
    
    1,750
    
    
    
    1.0Total real estate-construction
    
    
    4,127
    
    
    
    2.2
    
    
    
    6,771
    
    
    
    3.8ConsumerHome equity
    
    
    15,713
    
    
    
    8.3
    
    
    
    9,470
    
    
    
    5.3Loans on savings accounts
    
    
    597
    
    
    
    0.3
    
    
    
    493
    
    
    
    0.3Home improvement
    
    
    293
    
    
    
    0.2
    
    
    
    381
    
    
    
    0.2Other
    
    
    655
    
    
    
    0.3
    
    
    
    531
    
    
    
    0.3Total consumer loans
    
    
    17,258
    
    
    
    9.1
    
    
    
    10,875
    
    
    
    6.1Commercial business
    
    
    4,821
    
    
    
    2.5
    
    
    
    2,616
    
    
    
    1.5Total loans
    
    $
    189,673
    
    
    
    100.0
    %
    
    $
    177,930
    
    
    
    100.0
    %Premium on loans purchased
    
    
    375
    
    
    
    
    
    
    
    465Net deferred loan costs
    
    
    478
    
    
    
    
    
    
    
    432Discount on loans purchased
    
    
    (121
    )
    
    
    
    
    
    
    (139
    )Loans in process
    
    
    (2,537
    )
    
    
    
    
    
    
    (3,104
    )Allowance for loan losses
    
    
    (1,018
    )
    
    
    
    
    
    
    (866
    )Loans, net
    
    $
    186,850
    
    
    
    
    
    
    $
    174,718
 7




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##### Table of Contents



NonPerforming Assets.
 September 30,
    
    December 31,(Dollars in thousands)
    
    2007
    
    2006Nonaccrual loans:Real estate  mortgage
    
    $
    950
    
    
    $
    592Real estate  construction
    
    
    
    
    
    
    Consumer
    
    
    161
    
    
    
    175Commercial business
    
    
    
    
    
    
    Total
    
    
    1,111
    
    
    
    767Accruing loans past due 90 days or moreReal estate  mortgage
    
    
    
    
    
    
    Real estate  construction
    
    
    
    
    
    
    Consumer
    
    
    
    
    
    
    Commercial business
    
    
    
    
    
    
    Total
    
    
    
    
    
    
    Total of nonaccrual and 90 days or
more past due loans
    
    
    1,111
    
    
    
    767Real estate owned
    
    
    1,210
    
    
    
    569Total nonperforming assets
    
    $
    2,321
    
    
    $
    1,336Troubled debt restructurings
    
    
    
    
    
    
    Troubled debt restructurings and total
nonperforming assets
    
    $
    2,321
    
    
    $
    1,336Total nonperforming loans to total loans
    
    
    0.59
    %
    
    
    0.43
    %Total nonperforming loans to total assets
    
    
    0.38
    
    
    
    0.27Total nonperforming assets to total assets
    
    
    0.80
    
    
    
    0.47
 Allowance for loan losses.
 Three Months
    
    Year
    
    Three MonthsEnded
    
    Ended
    
    EndedSeptember 30,
    
    December 31,
    
    September 30,(Dollars in thousands)
    
    2007
    
    2006
    
    2006Allowance at beginning of period
    
    $
    941
    
    
    $
    800
    
    
    $
    840Provision for loan losses
    
    
    395
    
    
    
    84
    
    
    
    29Charge-offs
    
    
    (318
    )
    
    
    (18
    )
    
    
    (13
    )Recoveries
    
    
    
    
    
    
    
    
    
    
    Net charge-offs
    
    
    (318
    )
    
    
    (18
    )
    
    
    (13
    )Allowance at end of period
    
    $
    1,018
    
    
    $
    866
    
    
    $
    856
 8




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##### Table of Contents



Nine Months
    
    Year
    
    Nine MonthsEnded
    
    Ended
    
    EndedSeptember 30,
    
    December 31,
    
    September 30,(Dollars in thousands)
    
    2007
    
    2006
    
    2006Allowance at beginning of period
    
    $
    866
    
    
    $
    800
    
    
    $
    800Provision for loan losses
    
    
    470
    
    
    
    84
    
    
    
    69Charge-offs
    
    
    (318
    )
    
    
    (18
    )
    
    
    (13
    )Recoveries
    
    
    
    
    
    
    
    
    
    
    Net charge-offs
    
    
    (318
    )
    
    
    (18
    )
    
    
    (13
    )Allowance at end of period
    
    $
    1,018
    
    
    $
    866
    
    
    $
    856
 Note 5. Deposits
  September 30, 2007
    
    December 31, 2006
    
    September 30, 2006(Dollars in thousands)
    
    Amount
    
    Percent
    
    Amount
    
    Percent
    
    Amount
    
    PercentNoninterest-bearing demand deposits
    
    $
    9,212
    
    
    
    6.0
    %
    
    $
    5,409
    
    
    
    3.8
    %
    
    $
    4,705
    
    
    
    3.3
    %Interest-bearing demand deposits
    
    
    12,675
    
    
    
    8.2
    
    
    
    12,530
    
    
    
    8.7
    
    
    
    12,470
    
    
    
    8.7Savings accounts
    
    
    24,032
    
    
    
    15.5
    
    
    
    26,525
    
    
    
    18.5
    
    
    
    27,843
    
    
    
    19.5Money market accounts
    
    
    13,590
    
    
    
    8.8
    
    
    
    7,663
    
    
    
    5.3
    
    
    
    5,201
    
    
    
    3.6Certificates of deposit
    
    
    95,055
    
    
    
    61.5
    
    
    
    91,368
    
    
    
    63.7
    
    
    
    92,482
    
    
    
    64.9Total deposits
    
    $
    154,564
    
    
    
    100.0
    %
    
    $
    143,495
    
    
    
    100.0
    %
    
    $
    142,701
    
    
    
    100.0
    %
 Note 6. Borrowings
  Nine
    
    
    
    
    
    NineMonths
    
    Year
    
    MonthsEnded
    
    Ended
    
    EndedSeptember
    
    December
    
    September(Dollars in thousands)
    
    30, 2007
    
    31, 2006
    
    30, 2006Maximum amount outstanding at any month end
during the period
    
    $
    89,663
    
    
    $
    98,766
    
    
    $
    98,766Average amounts outstanding during the period
    
    
    79,926
    
    
    
    90,308
    
    
    
    89,980Weighted average rate during the period
    
    
    4.29
    %
    
    
    4.04
    %
    
    
    3.95
    %Balance outstanding at end of period
    
    $
    87,606
    
    
    $
    89,323
    
    
    $
    87,094Weighted average rate at end of period
    
    
    4.37
    %
    
    
    4.22
    %
    
    
    4.09
    %
 Note 7. Earnings Per Share
  9




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##### Table of Contents



Three Months Ended
    
    Nine Months EndedSeptember 30,
    
    September 30,2007
    
    2006
    
    2007
    
    2006(Dollars in thousands, except per share amounts)Net (loss) income
    
    $
    (347
    )
    
    $
    55
    
    
    $
    (1,374
    )
    
    $
    443Weighted-average shares outstanding:Basic
    
    
    6,438,228
    
    
    
    6,381,371
    
    
    
    6,442,220
    
    
    
    6,377,051Effect of dilutive stock options and
restrictive stock awards
    
    
    
    
    
    
    49,174
    
    
    
    
    
    
    
    47,775Diluted
    
    
    6,438,228
    
    
    
    6,430,545
    
    
    
    6,442,220
    
    
    
    6,424,826Earnings per share:Basic
    
    $
    (0.05
    )
    
    $
    0.01
    
    
    $
    (0.21
    )
    
    $
    0.07Diluted
    
    $
    (0.05
    )
    
    $
    0.01
    
    
    $
    (0.21
    )
    
    $
    0.07
 Note 8. Stock Based Compensation
    10




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##### Table of Contents



Stock OptionsWeightedNumber
    
    Averageof
    
    ExerciseStock-Based Compensation
    
    Shares
    
    PriceOutstanding at January 1, 2007
    
    
    233,000
    
    
    $
    10.11Granted
    
    
    12,500
    
    
    
    9.00Exercised or converted
    
    
    
    
    
    
    Forfeited
    
    
    6,000
    
    
    
    10.11Expired
    
    
    
    
    
    
    Outstanding at September 30, 2007
    
    
    239,500
    
    
    $
    10.05Exercisable at September 30, 2007
    
    
    45,400
    
    
    $
    10.11
 Stock Options
    
    Restricted Stock AwardsNumber of
    
    Fair-Value
    
    Number of
    
    Fair-ValueShares
    
    Price
    
    Shares
    
    PriceNonvested at January 1, 2007
    
    
    233,000
    
    
    $
    3.16
    
    
    
    95,000
    
    
    $
    10.11Granted
    
    
    12,500
    
    
    
    2.80
    
    
    
    5,500
    
    
    
    9.00Vested
    
    
    45,400
    
    
    
    3.16
    
    
    
    18,400
    
    
    
    10.11Forfeited
    
    
    6,000
    
    
    
    3.16
    
    
    
    3,000
    
    
    
    10.11Nonvested at September 30, 2007
    
    
    194,100
    
    
    $
    3.14
    
    
    
    79,100
    
    
    $
    10.03
 
 Item 2. Managements Discussion and Analysis or Plan of Operation
  Forward-Looking Statements
   11




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##### Table of Contents



General
     Balance Sheet Analysis
 Assets.
    12




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##### Table of Contents



Liabilities.
   Stockholders Equity.
 Results of Operations for the Three Months Ended September 30, 2007 and 2006
 Overview.
 Three Months EndedSeptember 30,(Dollars in thousands)
    
    2007
    
    2006Net (loss) income
    
    $
    (347
    )
    
    $
    55Return on average assets
    
    
    (0.49
    )%
    
    
    0.08
    %Return on average equity
    
    
    (3.07
    )
    
    
    0.48Average equity to average assets
    
    
    16.03
    
    
    
    16.81
 Net Interest Income.
  13




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##### Table of Contents



Three Months EndedSeptember 30,(Dollars in thousands)
    
    2007
    
    
    2006
    
    
    % ChangeInterest income:Loans
    
    $
    2,689
    
    
    $
    2,497
    
    
    
    7.7
    %Securities
    
    
    1,005
    
    
    
    800
    
    
    
    25.6Other interest-earning assets
    
    
    131
    
    
    
    141
    
    
    
    (7.1
    )Total interest income
    
    
    3,825
    
    
    
    3,438
    
    
    
    11.3Interest expense:Interest-bearing demand deposits
    
    
    16
    
    
    
    15
    
    
    
    6.7Savings accounts
    
    
    62
    
    
    
    72
    
    
    
    (13.9
    )Money market accounts
    
    
    138
    
    
    
    23
    
    
    
    500.0Certificates of deposit
    
    
    1,156
    
    
    
    984
    
    
    
    17.5Total interest-bearing deposits
    
    
    1,372
    
    
    
    1,094
    
    
    
    25.4Borrowings
    
    
    804
    
    
    
    831
    
    
    
    (3.2
    )Total interest expense
    
    
    2,176
    
    
    
    1,925
    
    
    
    13.0Net interest income
    
    $
    1,649
    
    
    $
    1,513
    
    
    
    9.0
    %
 14




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##### Table of Contents



Average Balances and Yields .
 Three Months Ended September 30,2007
    
    
    2006Interest
    
    
    
    
    
    
    
    
    
    
    InterestAverage
    
    
    and
    
    
    Yield/
    
    
    Average
    
    
    and
    
    
    Yield/Balance
    
    
    Dividends
    
    
    Cost
    
    
    Balance
    
    
    Dividends
    
    
    CostAssets:Interest-earning assets:Loans, net (1)(2)
    
    $
    183,778
    
    
    $
    2,689
    
    
    
    5.85
    %
    
    $
    173,231
    
    
    $
    2,497
    
    
    
    5.77
    %Securities (3)
    
    
    71,401
    
    
    
    1,005
    
    
    
    5.63
    
    
    
    72,459
    
    
    
    800
    
    
    
    4.42Other interest-earning assets
    
    
    8,904
    
    
    
    131
    
    
    
    5.88
    
    
    
    10,572
    
    
    
    141
    
    
    
    5.33Total interest-earning
assets
    
    
    264,083
    
    
    $
    3,825
    
    
    
    5.79
    
    
    
    256,262
    
    
    $
    3,438
    
    
    
    5.37Noninterest-earning assets
    
    
    17,613
    
    
    
    
    
    
    
    
    
    
    
    15,120Total assets
    
    $
    281,696
    
    
    
    
    
    
    
    
    
    
    $
    271,382Liabilities and
Stockholders equity:Interest-bearing liabilities:Interest-bearing
demand deposits
    
    $
    13,060
    
    
    $
    16
    
    
    
    0.49
    %
    
    $
    12,865
    
    
    $
    15
    
    
    
    0.47
    %Savings accounts
    
    
    24,712
    
    
    
    62
    
    
    
    1.00
    
    
    
    28,452
    
    
    
    72
    
    
    
    1.01Money market accounts
    
    
    13,137
    
    
    
    138
    
    
    
    4.20
    
    
    
    4,665
    
    
    
    23
    
    
    
    1.97Certificates of deposit
    
    
    98,347
    
    
    
    1,156
    
    
    
    4.70
    
    
    
    89,117
    
    
    
    984
    
    
    
    4.42Total interest-bearing
deposits
    
    
    149,256
    
    
    
    1,372
    
    
    
    3.68
    
    
    
    135,099
    
    
    
    1,094
    
    
    
    3.24Borrowings
    
    
    74,549
    
    
    
    804
    
    
    
    4.31
    
    
    
    82,442
    
    
    
    831
    
    
    
    4.03Total interest-bearing
liabilities
    
    
    223,805
    
    
    
    2,176
    
    
    
    3.89
    
    
    
    217,541
    
    
    
    1,925
    
    
    
    3.54Noninterest-bearing liabilities
    
    
    12,737
    
    
    
    
    
    
    
    
    
    
    
    8,220Total liabilities
    
    
    236,542
    
    
    
    
    
    
    
    
    
    
    
    225,761Stockholders equity:
    
    
    45,154
    
    
    
    
    
    
    
    
    
    
    
    45,621Total liabilities and
stockholders equity
    
    $
    281,696
    
    
    
    
    
    
    
    
    
    
    $
    271,382Net interest income
    
    
    
    
    
    $
    1,649
    
    
    
    
    
    
    
    
    
    
    $
    1,513Interest rate spread (4)
    
    
    
    
    
    
    
    
    
    
    1.90
    %
    
    
    
    
    
    
    
    
    
    
    1.83
    %Net interest margin (5)
    
    
    
    
    
    
    
    
    
    
    2.50
    
    
    
    
    
    
    
    
    
    
    
    2.36Average interest-earning
assets to average
interest-bearing liabilities
    
    
    
    
    
    
    
    
    
    
    118.00
    %
    
    
    
    
    
    
    
    
    
    
    117.80
    %
 (1)
    
    Amount is net of deferred loan costs, loans in process and estimated allowance for loan losses.(2)
    
    Amount includes nonaccrual loans in average balances only.(3)
    
    Amount does not include effect of unrealized gain (loss) on securities available-for-sale.(4)
    
    Interest rate spread represents the difference between the yield on interest-earning assets
and the cost of interest-bearing liabilities.(5)
    
    Net interest margin represents net interest income divided by average interest-earning
assets.
 15




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##### Table of Contents



Rate/Volume Analysis .
 Three Months Ended September 30, 2007Compared ToThree Months Ended September 30, 2006Increase (decrease) due to(Dollars in thousands)
    
    Volume
    
    Rate
    
    TotalInterest and dividend income:Loans, net
    
    $
    157
    
    
    $
    35
    
    
    $
    192Securities
    
    
    (11
    )
    
    
    216
    
    
    
    205Other interest-earning assets
    
    
    (24
    )
    
    
    14
    
    
    
    (10
    )Total interest-earning assets
    
    
    122
    
    
    
    265
    
    
    
    387Interest expense:Deposits
    
    
    120
    
    
    
    158
    
    
    
    278Borrowings
    
    
    (82
    )
    
    
    55
    
    
    
    (27
    )Total interest-bearing liablities
    
    
    38
    
    
    
    213
    
    
    
    251Change in net interest income
    
    $
    84
    
    
    $
    52
    
    
    $
    136
 Provision for Loan Losses.
 Noninterest Income .
 Three Months EndedSeptember 30,(Dollars in thousands)
    
    2007
    
    
    2006
    
    
    % ChangeFees and service charges
    
    $
    108
    
    
    $
    90
    
    
    
    20.0
    %Insurance commissions
    
    
    397
    
    
    
    343
    
    
    
    15.7Income from bank-owned life insurance
    
    
    70
    
    
    
    68
    
    
    
    2.9Net loss on sales of securities
    
    
    (2
    )
    
    
    
    
    
    
    N/MOther
    
    
    2
    
    
    
    2
    
    
    
    0.0Total noninterest income
    
    $
    575
    
    
    $
    503
    
    
    
    14.3
    %
  16




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##### Table of Contents



Noninterest Expense.
 Three Months EndedSeptember 30,(Dollars in thousands)
    
    2007
    
    
    2006
    
    
    % ChangeCompensation and employee benefits
    
    $
    1,485
    
    
    $
    1,191
    
    
    
    24.7
    %Occupancy
    
    
    301
    
    
    
    217
    
    
    
    38.7FDIC insurance premiums
    
    
    6
    
    
    
    5
    
    
    
    20.0Data processing
    
    
    94
    
    
    
    73
    
    
    
    28.8Advertising
    
    
    45
    
    
    
    36
    
    
    
    25.0Professional services
    
    
    129
    
    
    
    114
    
    
    
    13.2Stationary, printing and supplies
    
    
    32
    
    
    
    45
    
    
    
    (28.9
    )Telephone
    
    
    13
    
    
    
    12
    
    
    
    8.3Postage
    
    
    29
    
    
    
    27
    
    
    
    7.4Correspondent bank fees
    
    
    31
    
    
    
    29
    
    
    
    6.9All other
    
    
    161
    
    
    
    138
    
    
    
    16.7Total noninterest expense
    
    $
    2,326
    
    
    $
    1,887
    
    
    
    23.3
    %
  Income Tax (Benefit) Expense.
 Results of Operations for the Nine Months Ended September 30, 2007 and 2006
 Overview.
 Nine Months EndedSeptember 30,(Dollars in thousands)
    
    2007
    
    2006Net (loss) income
    
    $
    (1,374
    )
    
    $
    443Return on average assets
    
    
    (0.65
    )%
    
    
    0.22
    %Return on average equity
    
    
    (4.00
    )
    
    
    1.28Average equity to average assets
    
    
    16.30
    
    
    
    16.93
 17




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##### Table of Contents



Net Interest Income.
    Nine Months EndedSeptember 30,(Dollars in thousands)
    
    2007
    
    
    2006
    
    
    % ChangeInterest income:Loans
    
    $
    7,764
    
    
    $
    7,436
    
    
    
    4.4
    %Securities
    
    
    2,999
    
    
    
    2,394
    
    
    
    25.3Other interest-earning assets
    
    
    408
    
    
    
    330
    
    
    
    23.6Total interest income
    
    
    11,171
    
    
    
    10,160
    
    
    
    10.0Interest expense:Interest-bearing demand deposits
    
    
    47
    
    
    
    47
    
    
    
    Savings accounts
    
    
    191
    
    
    
    220
    
    
    
    (13.2
    )Money market accounts
    
    
    325
    
    
    
    63
    
    
    
    415.9Certificates of deposit
    
    
    3,226
    
    
    
    2,513
    
    
    
    28.4Total interest-bearing deposits
    
    
    3,789
    
    
    
    2,843
    
    
    
    33.3Borrowings
    
    
    2,569
    
    
    
    2,668
    
    
    
    (3.7
    )Total interest expense
    
    
    6,358
    
    
    
    5,511
    
    
    
    15.4Net interest income
    
    $
    4,813
    
    
    $
    4,649
    
    
    
    3.5
    %
 18




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##### Table of Contents



Average Balances and Yields .
 Nine Months Ended September 30,2007
    
    
    2006Interest
    
    
    
    
    
    
    
    
    
    
    InterestAverage
    
    
    and
    
    
    Yield/
    
    
    Average
    
    
    and
    
    
    Yield/Balance
    
    
    Dividends
    
    
    Cost
    
    
    Balance
    
    
    Dividends
    
    
    CostAssets:Interest-earning assets:Loans, net (1)(2)
    
    $
    178,462
    
    
    $
    7,764
    
    
    
    5.80
    %
    
    $
    172,312
    
    
    $
    7,436
    
    
    
    5.75
    %Securities (3)
    
    
    75,742
    
    
    
    2,999
    
    
    
    5.28
    
    
    
    74,539
    
    
    
    2,394
    
    
    
    4.28Other interest-earning assets
    
    
    9,459
    
    
    
    408
    
    
    
    5.75
    
    
    
    9,350
    
    
    
    330
    
    
    
    4.71Total interest-earning
assets
    
    
    263,663
    
    
    $
    11,171
    
    
    
    5.65
    
    
    
    256,201
    
    
    $
    10,160
    
    
    
    5.29Noninterest-earning assets
    
    
    17,272
    
    
    
    
    
    
    
    
    
    
    
    15,436Total assets
    
    $
    280,935
    
    
    
    
    
    
    
    
    
    
    $
    271,637Liabilities and
Stockholders equity:Interest-bearing liabilities:Interest-bearing
demand deposits
    
    $
    13,065
    
    
    $
    47
    
    
    
    0.48
    %
    
    $
    13,174
    
    
    $
    47
    
    
    
    0.48
    %Savings accounts
    
    
    25,452
    
    
    
    191
    
    
    
    1.00
    
    
    
    29,424
    
    
    
    220
    
    
    
    1.00Money market accounts
    
    
    10,984
    
    
    
    325
    
    
    
    3.95
    
    
    
    4,933
    
    
    
    63
    
    
    
    1.70Certificates of deposit
    
    
    94,229
    
    
    
    3,226
    
    
    
    4.56
    
    
    
    80,702
    
    
    
    2,513
    
    
    
    4.15Total interest-bearing
deposits
    
    
    143,730
    
    
    
    3,789
    
    
    
    3.51
    
    
    
    128,233
    
    
    
    2,843
    
    
    
    2.96Borrowings
    
    
    79,926
    
    
    
    2,569
    
    
    
    4.29
    
    
    
    89,980
    
    
    
    2,668
    
    
    
    3.95Total interest-bearing
liabilities
    
    
    223,656
    
    
    
    6,358
    
    
    
    3.79
    
    
    
    218,213
    
    
    
    5,511
    
    
    
    3.37Noninterest-bearing liabilities
    
    
    11,477
    
    
    
    
    
    
    
    
    
    
    
    7,449Total liabilities
    
    
    235,133
    
    
    
    
    
    
    
    
    
    
    
    225,662Stockholders equity:
    
    
    45,802
    
    
    
    
    
    
    
    
    
    
    
    45,975Total liabilities and
stockholders equity
    
    $
    280,935
    
    
    
    
    
    
    
    
    
    
    $
    271,637Net interest income
    
    
    
    
    
    $
    4,813
    
    
    
    
    
    
    
    
    
    
    $
    4,649Interest rate spread (4)
    
    
    
    
    
    
    
    
    
    
    1.86
    %
    
    
    
    
    
    
    
    
    
    
    1.92
    %Net interest margin (5)
    
    
    
    
    
    
    
    
    
    
    2.43
    
    
    
    
    
    
    
    
    
    
    
    2.42Average interest-earning
assets to average
interest-bearing liabilities
    
    
    
    
    
    
    
    
    
    
    117.89
    %
    
    
    
    
    
    
    
    
    
    
    117.41
    %
 (1)
    
    Amount is net of deferred loan costs, loans in process and estimated allowance for loan losses.(2)
    
    Amount includes nonaccrual loans in average balances only.(3)
    
    Amount does not include effect of unrealized gain (loss) on securities available-for-sale.(4)
    
    Interest rate spread represents the difference between the yield on interest-earning assets
and the cost of interest-bearing liabilities.(5)
    
    Net interest margin represents net interest income divided by average interest-earning
assets. 19




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##### Table of Contents



Rate/Volume Analysis .
 Nine Months Ended September 30, 2007Compared ToNine Months Ended September 30, 2006Increase (decrease) due to(Dollars in thousands)
    
    Volume
    
    Rate
    
    TotalInterest and dividend income:Loans, net
    
    $
    241
    
    
    $
    87
    
    
    $
    328Securities
    
    
    (151
    )
    
    
    756
    
    
    
    605Other interest-earning assets
    
    
    (20
    )
    
    
    98
    
    
    
    78Total interest-earning assets
    
    
    70
    
    
    
    941
    
    
    
    1,011Interest expense:Deposits
    
    
    493
    
    
    
    453
    
    
    
    946Borrowings
    
    
    (390
    )
    
    
    291
    
    
    
    (99
    )Total interest-bearing liabilities
    
    
    103
    
    
    
    744
    
    
    
    847Change in net interest income
    
    $
    (33
    )
    
    $
    197
    
    
    $
    164
 Provision for Loan Losses.
 Noninterest Income .
 Nine Months EndedSeptember 30,(Dollars in thousands)
    
    2007
    
    2006
    
    % ChangeFees and service charges
    
    $
    304
    
    
    $
    273
    
    
    
    11.4
    %Insurance commissions
    
    
    1,328
    
    
    
    1,223
    
    
    
    8.6Income from bank-owned life insurance
    
    
    212
    
    
    
    206
    
    
    
    2.9Net loss on sales of securities
    
    
    (1,412
    )
    
    
    
    
    
    
    N/MNet gain on sale of real estate owned
    
    
    
    
    
    
    33
    
    
    
    (100.0
    )Other
    
    
    9
    
    
    
    35
    
    
    
    (74.3
    )Total noninterest income
    
    $
    441
    
    
    $
    1,770
    
    
    
    (75.1
    )%
  20




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##### Table of Contents



Noninterest Expense.
 Nine Months EndedSeptember 30,(Dollars in thousands)
    
    2007
    
    
    2006
    
    
    % ChangeCompensation and employee benefits
    
    $
    4,278
    
    
    $
    3,518
    
    
    
    21.6
    %Occupancy
    
    
    832
    
    
    
    622
    
    
    
    33.8FDIC insurance premiums
    
    
    17
    
    
    
    37
    
    
    
    (54.1
    )Data processing
    
    
    279
    
    
    
    225
    
    
    
    24.0Advertising
    
    
    118
    
    
    
    124
    
    
    
    (4.8
    )Professional services
    
    
    413
    
    
    
    363
    
    
    
    13.8Stationary, printing and supplies
    
    
    97
    
    
    
    113
    
    
    
    (14.2
    )Telephone
    
    
    40
    
    
    
    39
    
    
    
    2.6Postage
    
    
    94
    
    
    
    81
    
    
    
    16.0Correspondent bank fees
    
    
    92
    
    
    
    73
    
    
    
    26.0All other
    
    
    485
    
    
    
    432
    
    
    
    12.3Total noninterest expense
    
    $
    6,745
    
    
    $
    5,627
    
    
    
    19.9
    %
  Income Tax (Benefit) Expense.
 Liquidity and Capital Management
 Liquidity Management .
    21




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##### Table of Contents



Capital Management.
 Off-Balance Sheet Arrangements.
  
 Item 3. Controls and Procedures
  
 PART II  OTHER INFORMATION
 
 Item 1. Legal Proceedings.
  22




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##### Table of Contents



Item 2. Unregistered Sales of Equity Securities and Use of Proceeds.
  Total Number
    
    
    Maximumof Shares
    
    
    Number ofTotal
    
    
    Average
    
    
    Purchased as Part
    
    
    Shares thatNumber
    
    
    Price
    
    
    of the Publicly
    
    
    May Yet Beof Shares
    
    
    Paid per
    
    
    Announced
    
    
    Purchased UnderPeriod
    
    Purchased
    
    
    Share
    
    
    Program(1)
    
    
    the Program (1)July 2007
    
    
    11,200
    
    
    $
    9.06
    
    
    
    11,200
    
    
    
    77,000August 2007
    
    
    14,700
    
    
    
    9.16
    
    
    
    14,700
    
    
    
    62,300September 2007
    
    
    30,000
    
    
    
    9.26
    
    
    
    30,000
    
    
    
    179,800Total
    
    
    55,900
    
    
    $
    9.19
    
    
    
    55,900
 
 (1)
    
    On March 28, 2007, the Company announced that the board of directors approved the repurchase
of up to 153,500 shares of the Companys outstanding common stock, which was approximately 5%
of outstanding shares held by persons other than FFMHC on that date. This repurchase program
was scheduled to expire on September 30, 2007, however, on September 27, 2007, the Company
announced that the board of directors had approved an extension to this program. The
remaining 32,300 shares under this program were repurchased on October 5, 2007 at an average
cost of $9.24 per share.On September 27, 2007, the Company also announced that the board of directors had approved a
second program allowing the Company to repurchase up to 147,500 shares of the Companys
outstanding common stock, which was approximately 5% of outstanding shares held by persons other
than FFMHC on that date. This repurchase program is scheduled to expire on March 31, 2008. No
shares have been purchased under the second program as of September 30, 2007 
 Item 3. Defaults Upon Senior Securities.
  
 Item 4. Submission of Matters to a Vote of Security Holders.
  
 Item 5. Other Information.
  23




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##### Table of Contents



Item 6. Exhibits
 3.1
    
    Amended and Restated Charter of FedFirst Financial Corporation (1)3.2
    
    Amended and Restated Bylaws of FedFirst Financial Corporation (2)4.0
    
    Specimen Stock Certificate of FedFirst Financial Corporation (1)31.1
    
    Rule 13a-14 (a) / 15d-14 (a) Certification (President and Chief Executive Officer)31.2
    
    Rule 13a-14 (a) / 15d-14 (a) Certification (Chief Financial Officer)32.1
    
    Certification of John G. Robinson pursuant to 18 U.S.C. Section 1350, as adopted
pursuant to Section 906 of the Sarbanes-Oxley Act of 200232.2
    
    Certification of Robert C. Barry Jr. pursuant to 18 U.S.C. Section 1350, as adopted
pursuant to Section 906 of the Sarbanes-Oxley Act of 2002
 
 (1)
    
    Incorporated herein by reference to the Exhibits to the Registration Statement on Form SB-2,
and amendments thereto, initially filed on December 17, 2004, Registration No. 333-121405.(2)
    
    Incorporated herein by reference to the Exhibits to FedFirst Financial Corporations Form 8-K
filed on October 26, 2007. 24




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##### Table of Contents



SIGNATURES
  FEDFIRST FINANCIAL CORPORATION
(Registrant)Date:      November 9, 2007
    /s/ John G. RobinsonJohn G. RobinsonPresident and Chief Executive OfficerDate:      November 9, 2007
    /s/ Robert C. Barry Jr.Robert C. Barry Jr.Chief Financial Officer and Senior Vice President
(Principal Financial Officer and Chief
Accounting Officer) 25