SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549

                                   FORM 10-QSB

                   QUARTERLY REPORT UNDER SECTION 13 OR 15(d)
                     OF THE SECURITIES EXCHANGE ACT OF 1934

                 For the quarterly period ended: March 31, 2001

                         Commission File Number: 0-20806

                                 FIRSTMARK CORP.
        (Exact Name of Small Business Issuer as Specified in its Charter)


              Maine                                      01-0389195
  (State or Other Jurisdiction              (I.R.S. Employer Identification No.)
of Incorporation or Organization)

                                  P.O. Box 1398
                            Richmond, Virginia 23218
                    (Address of Principal Executive Offices)

                                 (804) 648-9048
                (Issuer's Telephone Number, Including Area Code)


         Check whether the issuer: (1) filed all reports required to be filed by
Section 13 or 15(d) of the  Exchange  Act during the past 12 months (or for such
shorter period that the  registrant was required to file such reports),  and (2)
has been subject to such filing requirements for the past 90 days.
                                                             Yes __X__  No _____

         State the number of shares  outstanding of each of the issuer's classes
of common equity, as of the latest practicable date:

          5,342,043 shares of common stock, par value $0.20 per share,
                         outstanding as of May 17, 2001



<PAGE>

                                 FIRSTMARK CORP.

                                TABLE OF CONTENTS
<TABLE>
<CAPTION>
                                                                                            Page No.
<S>                                                                                            <C>
Part I.       Financial Information

         Item 1.  Financial Statements

                  Consolidated Balance Sheets
                         March 31, 2001 (Unaudited) and December 31, 2000.......................3

                  Consolidated Statements of Operations (Unaudited)
                         Three Months Ended March 31, 2001 and 2000.............................5

                  Consolidated Statements of Cash Flows (Unaudited)
                         Three Months Ended March 31, 2001 and 2000.............................6

                  Notes to Consolidated Financial Statements (Unaudited)........................7

         Item 2.  Management's Discussion and Analysis of Financial Condition
                         and Results of Operation...............................................8


Part II.      Other Information

         Item 1.  Legal Proceedings............................................................10

         Item 2.  Changes in Securities and Use of Proceeds....................................10

         Item 3.  Defaults Upon Senior Securities..............................................10

         Item 4.  Submission of Matters to a Vote of Security Holders..........................10

         Item 5.  Other Information............................................................10

         Item 6.  Exhibits and Reports on Form 8-K.............................................10

</TABLE>






                                      -2-
<PAGE>

                         PART I -- FINANCIAL INFORMATION

Item 1.           Financial Statements

FIRSTMARK CORP. AND SUBSIDIARIES

Consolidated Balance Sheets

================================================================================
<TABLE>
<CAPTION>
ASSETS

                                                          March 31, 2001    December 31, 2000
                                                          --------------    -----------------
                                                           (Unaudited)
<S>                                                         <C>                <C>
Cash and cash equivalents                                   $4,276,264         $4,680,993

Receivables - other, net                                            --              7,173

Investments:
     Marketable securities                                      25,719             35,134
     Real estate and other investments                         270,724            316,751
                                                            ----------         ----------

         Total investments                                     296,443            351,885
                                                            ----------         ----------

Other assets:
     Property, plant and equipment - net                         6,587              7,106
     Deferred tax asset - net of valuation allowance            19,290             19,290
     Other assets                                               14,629             25,188
                                                            ----------         ----------

         Total other assets                                     40,506             51,584
                                                            ----------         ----------

TOTAL ASSETS                                                $4,613,213         $5,091,635
                                                            ==========         ==========

</TABLE>









                                      -3-
<PAGE>

FIRSTMARK CORP. AND SUBSIDIARIES

Consolidated Balance Sheets

================================================================================
<TABLE>
<CAPTION>
LIABILITIES AND STOCKHOLDERS' EQUITY

                                                                       March 31, 2001         December 31, 2000
                                                                       --------------         -----------------
                                                                         (Unaudited)
<S>                                                                     <C>                      <C>
LIABILITIES:
     Accounts payable and other liabilities                             $     71,407             $     69,717
     Deferred tax liability                                                   19,290                   19,290
                                                                        ------------             ------------

         Total liabilities                                                    90,697                   89,007
                                                                        ------------             ------------


STOCKHOLDERS' EQUITY:
     Preferred stock, Series A, $0.20 par value -
       authorized 250,000 shares; issued:
       2001 - 35,500 shares, 2000 - 52,500 shares
       (liquidation preference: 2001 - $1,420,000
       2000 - $2,100,000)                                                      7,100                   10,500
     Common stock, $0.20 par value - authorized
       30,000,000 shares; issued 5,501,430 shares                          1,100,286                1,100,286
     Additional paid-in capital - preferred                                1,524,689                1,998,289
     Additional paid-in capital - common                                  11,298,177               11,298,177
     Retained earnings (deficit)                                          (8,797,132)              (8,798,918)
     Treasury stock, at cost - 159,387 shares                               (589,513)                (589,513)
     Net accumulated comprehensive income -
       net of taxes                                                          (21,091)                 (16,193)
                                                                        ------------             ------------

         Total stockholders' equity                                        4,522,516                5,002,628
                                                                        ------------             ------------

TOTAL LIABILITIES AND
     STOCKHOLDERS' EQUITY                                               $  4,613,213             $  5,091,635
                                                                        ============             ============

</TABLE>

The accompanying notes are an integral part of these financial statements.



                                      -4-
<PAGE>

FIRSTMARK CORP. AND SUBSIDIARIES

Consolidated Statements of Operations (Unaudited)

================================================================================
<TABLE>
<CAPTION>
                                                                                 Three Months Ended
                                                                                       March 31,
                                                                                       ---------
                                                                                2001               2000
                                                                                ----               ----
<S>                                                                          <C>               <C>
REVENUES:
    Interest and dividends                                                   $    63,031       $    81,939
    Investment gains, net                                                         24,520            23,951
                                                                             -----------       -----------

         Total revenues                                                           87,551           105,890
                                                                             -----------       -----------

EXPENSES:

    General and administrative expenses                                           54,566            89,925
                                                                             -----------       -----------

         Income before income taxes                                               32,985            15,965

INCOME TAX (BENEFIT) EXPENSE                                                          --                --
                                                                             -----------       -----------

NET INCOME                                                                        32,985            15,965
                                                                             -----------       -----------

PREFERRED STOCK DIVIDEND                                                          31,200            32,100
                                                                             -----------       -----------

NET INCOME (LOSS) APPLICABLE TO COMMON SHARES                                      1,785           (16,135)
                                                                             -----------       -----------

Other comprehensive income (loss) - net of tax
       Unrealized holding gains arising during period                              2,563            41,612
     Less: Reclassification adjustment for gains included in net income           (7,461)               --
                                                                             -----------       -----------

Other comprehensive income (loss)                                                 (4,898)           41,612
                                                                             -----------       -----------

COMPREHENSIVE INCOME (LOSS) APPLICABLE TO COMMON SHARES                      $    (3,113)      $    25,477
                                                                             ===========       ===========

Basic and diluted earnings (loss) per common share:
        Net income (loss) per common share                                   $      0.00       $      0.00
                                                                             ===========       ===========

       Comprehensive income (loss) applicable to common shares               $      0.00       $      0.00
                                                                             ===========       ===========


Weighted - average number of shares outstanding                                5,342,043         5,322,043
                                                                             ===========       ===========
</TABLE>


The accompanying notes are an integral part of these financial statements.





                                      -5-
<PAGE>

FIRSTMARK CORP. AND SUBSIDIARIES

Consolidated Statements of Cash Flows (Unaudited)

================================================================================
<TABLE>
<CAPTION>
                                                                             Three Months Ended
                                                                                  March 31,
                                                                                  ---------
                                                                           2001              2000
                                                                           ----              ----
<S>                                                                    <C>               <C>
OPERATING ACTIVITIES
     Net income                                                        $    32,985       $    15,965
     Adjustments to reconcile net income to net cash
       provided (used) by operating activities
         Depreciation and amortization                                         519               519
         Gain on sale of marketable securities                             (24,520)               --
         Gain on sale of venture capital investments                            --           (25,000)
         Net loss on sale of real estate investments                            --             2,072
         Other non-cash changes                                              2,523           (11,424)
         Changes in assets and liabilities:
           Decrease in:
              Accounts receivable                                            7,173            11,619
              Prepaid expenses and other current assets                     10,559             9,489
           Increase (decrease) in:
              Accounts payable and other liabilities                         1,690           (44,232)
                                                                       -----------       -----------


         Net cash provided (used) by operating activities                   30,929           (40,992)
                                                                       -----------       -----------

Cash flows from Investing Activities
     Increase in real estate investments                                    (2,750)           (4,308)
     Proceeds from sale of marketable securities                            26,515                --
     Proceeds from sale of venture capital investments                          --            75,000
     Proceeds from sale of real estate investments                          48,777            38,228
                                                                       -----------       -----------

         Net cash provided by investing activities                          72,542           108,920
                                                                       -----------       -----------

Cash flows from Financing Activities
     Preferred stock dividends                                             (31,200)          (32,100)
     Purchase of preferred stock                                          (477,000)               --
                                                                       -----------       -----------

         Net cash used by financing activities                            (508,200)          (32,100)
                                                                       -----------       -----------

Net change in cash and cash equivalents                                   (404,729)           35,828

Cash and cash equivalents, beginning of period                           4,680,993         4,541,344
                                                                       -----------       -----------

Cash and cash equivalents, end of period                               $ 4,276,264       $ 4,577,172
                                                                       ===========       ===========
</TABLE>


The accompanying notes are an integral part of these financial statements.




                                      -6-
<PAGE>

FIRSTMARK CORP. AND SUBSIDIARIES

Notes to Consolidated Financial Statements (Unaudited)

================================================================================

BASIS OF PRESENTATION

1.       The accompanying unaudited consolidated financial statements, which are
         for interim  periods,  do not include all  disclosures  provided in the
         annual consolidated financial statements.  These unaudited consolidated
         financial   statements   should  be  read  in   conjunction   with  the
         consolidated  financial  statements and the footnotes thereto contained
         in the Annual  Report on Form  10-KSB for the year ended  December  31,
         2000 of Firstmark Corp. (the  "Company"),  as filed with the Securities
         and  Exchange  Commission  (the  "Commission").  The  December 31, 2000
         balance  sheet was  derived  from the  audited  consolidated  financial
         statements,  but does not include all disclosures required by generally
         accepted accounting principles.

2.       In the opinion of the Company, the accompanying  unaudited consolidated
         financial  statements  contain all  adjustments  (which are of a normal
         recurring  nature)  necessary for a fair  presentation of the financial
         statements.  The results of operations for the three months ended March
         31, 2001 are not  necessarily  indicative of the results to be expected
         for the full year.

3.       Earnings (Loss) Per Common Share

         Basic EPS is computed by dividing net income,  less required  dividends
         on redeemable preferred stock, by the weighted average number of common
         shares  outstanding  during the year. Diluted EPS is computed using the
         weighted average number of common shares  outstanding  during the year,
         including the dilutive effect of all potential common shares.

4.       Reclassifications

         Certain reclassifications have been made in the accompanying statements
         to permit comparison.







                                      -7-
<PAGE>

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

         Firstmark Corp.  (the  "Company") was  incorporated in Maine on October
28,  1982.  Until  March 5, 1999,  the Company  was  principally  engaged in the
business  of  issuing  title  insurance  through a  subsidiary,  Southern  Title
Insurance  Corporation  ("STIC").  Until  January 24,  1997,  the  Company  also
actively  traded  public  stocks  and bonds and  provided  financial  consulting
services to a select number of individuals and institutions.

         On March 5, 1999,  the  Company  sold  Investors  Southern  Corporation
("ISC") and its  subsidiaries,  including  STIC, to Old Guard Group,  Inc. ("Old
Guard") for $6.75 million in cash and a three year earn-out in cash based on the
pre-tax net income of ISC and its subsidiaries,  including STIC, for each of the
fiscal years ending December 31, 1999,  2000 and 2001. A complete  discussion of
the Company's  business is contained in Item 1, Description of Business,  of the
Company's  Annual  Report on Form  10-KSB  (the "Form  10-KSB"),  filed with the
Securities and Exchange Commission on April 5, 2001.

Results of Operations

                        Three Months ended March 31, 2001
                compared to the Three Months ended March 31, 2000
                -------------------------------------------------

         Interest and dividends revenue amounted to approximately $63,000 in the
current quarter compared to $82,000 in the comparable quarter of the prior year.
This  decrease  results  from a lower  amount  invested  at a lower  rate in the
current year quarter as compared to the prior year quarter. Net investment gains
relating to the sale of marketable  securities amounted to approximately $25,000
in the quarter ended March 31, 2001. Net  investment  gains relating to sales of
venture capital and real estate investments amounted to approximately $24,000 in
the prior year quarter.

         General and administrative  expenses decreased by approximately $35,000
during the current quarter compared to the prior year quarter.  This decrease is
primarily the result of lower accounting, legal and other fees.

Liquidity and Capital Resources

         At March 31, 2001, the Company's cash and cash equivalents  amounted to
approximately $4.3 million,  which is expected to exceed its obligations as they
become due. During the first quarter of 2001, the Company redeemed 17,000 shares
of its Series A preferred stock.

 Recent Accounting Pronouncements

         Statement  of   Financial   Accounting   Standards   ("FAS")  No.  133,
"Accounting for Derivative Instruments and Hedging Activities," is effective for
all fiscal  years  beginning  after June 15,  2000.  FAS No.  133,  as  amended,
establishes  accounting  and  reporting  standards for



                                      -8-
<PAGE>

derivative  instruments,  including certain derivative  instruments  embedded in
other  contracts,  and  for  hedging  activities.  Under  FAS No.  133,  certain
contracts  that  were  not  formerly  considered  derivatives  may now  meet the
definition of derivative.  The Company adopted FAS No. 133 effective  January 1,
2001.  The  adoption  of FAS No.  133 did not have a  significant  impact on the
financial position, results of operation or cash flows of the Company.

         Reference is made to the disclosures included under the heading "Recent
Accounting  Pronouncements"  in Item 6, Management's  Discussion and Analysis of
Financial Condition and Results of Operations, of the Form 10-KSB.

Forward-Looking Statements

         Certain  statements  in this  report  may  constitute  "forward-looking
statements" within the meaning of the Private  Securities  Litigation Reform Act
of 1995.  Although the Company  believes that its  expectations  with respect to
certain forward-looking  statements are based upon reasonable assumptions within
the bounds of its business and operations, there can be no assurance that actual
results,  performance or achievements of the Company will not differ  materially
from any future  results,  performance or  achievements  expressed or implied by
such forward-looking statements.














                                      -9-
<PAGE>

                           PART II - OTHER INFORMATION

Item 1.           Legal Proceedings

                  Reference  is  made  to  the  disclosures  in  Item  3,  Legal
                  Proceedings,  of the  Form  10-KSB  for a  description  of the
                  Company's  pending  legal  proceedings.  There  have  been  no
                  additional   material   developments  with  respect  to  these
                  proceedings.

Item 2.           Changes in Securities and Use of Proceeds

                  Not applicable.

Item 3.           Defaults Upon Senior Securities

                  Not applicable.

Item 4.           Submission of Matters to a Vote of Security Holders

                  Not applicable.

Item 5.           Other Information

                  Not applicable.

Item 6.           Exhibits and Reports on Form 8-K

                  (a)      Exhibits

                           None.

                  (b)      Reports on Form 8-K

                           On February  13, 2001,  the Company  filed a Form 8-K
                           with the  Commission  to report  the  resignation  of
                           George H.  Morison  and Steven P.  Settlage  from its
                           Board of Directors and the appointment of Arch Aplin,
                           III and  Robert J.  Ellis to its Board of  Directors.
                           The change was in connection with the purchase by Mr.
                           Aplin  of  Company  common  stock  owned  by  Messrs.
                           Morison and Settlage and Donald V. Cruickshanks,  the
                           Company's President and Chief Executive Officer.







                                      -10-
<PAGE>

                                   SIGNATURES

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


                                          FIRSTMARK CORP.



Date:  May 18, 2001                       /s/ Donald V. Cruickshanks
                                          --------------------------------------
                                          Donald V. Cruickshanks
                                          President and Chief Executive Officer



Date:  May 18, 2001                       /s/ Ronald C. Britt
                                          --------------------------------------
                                          Ronald C. Britt
                                          Chief Financial Officer