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, 1998

                         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 Principle Executive Offices)

                                 (804) 648-6000
                (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:

                5,299,876 shares of common stock, par value $0.20 per share,
                        outstanding as of April 30, 1998



<PAGE>

                                 FIRSTMARK CORP.

                                TABLE OF CONTENTS

<TABLE>
<CAPTION>

                                                                                                          Page No.
<S>                                                                                                         <C>
Part I.     Financial Information

         Item 1.  Financial Statements

                  Condensed Consolidated Balance Sheets
                           March 31, 1998 and December 31, 1997..............................................3

                  Condensed Consolidated Statements of Operations
                           Three Months Ended March 31, 1998 and 1997........................................5

                  Condensed Consolidated Statements of Cash Flows
                           Three Months Ended March 31, 1998 and 1997........................................6

                  Notes to Condensed Consolidated Financial Statements.......................................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
<TABLE>
<CAPTION>
Condensed Consolidated Balance Sheets

===================================================================================================================
ASSETS

                                                                      March 31, 1998            December 31, 1997*
                                                                      --------------            ------------------
                                                                         (Unaudited)

<S>                                                                   <C>                       <C>           
Cash and cash equivalents                                             $    2,914,564            $    2,293,136
Accounts and notes receivables - trade, net                                1,052,360                 1,287,453
Accounts and notes receivables - related parties                              94,671                   103,338
Income taxes receivable                                                      248,776                   248,776
Marketable securities:
     Held for sale                                                           295,617                   348,454
     Held to maturity                                                      1,402,861                 1,800,091
Venture capital investments, net                                           1,196,345                 1,283,645
Real estate and other investments                                            809,668                   809,668
Title plant                                                                3,563,008                 3,563,008
Property, plant and equipment, net                                           803,320                   830,533
Excess of cost over fair value                                               948,206                   961,272
Deferred tax asset                                                           920,073                   920,073
Other assets                                                                 209,872                   168,234
                                                                      --------------            --------------

         Total Assets                                                 $   14,459,341            $   14,617,681
                                                                      ==============            ==============

</TABLE>



                                      -3-
<PAGE>


FIRSTMARK CORP. AND SUBSIDIARIES

Condensed Consolidated Balance Sheets
<TABLE>
<CAPTION>
===================================================================================================================

LIABILITIES AND STOCKHOLDERS' EQUITY

                                                                     March 31, 1998           December 31, 1997*
                                                                     --------------           ------------------
                                                                      (Unaudited)
<S>                                                                  <C>                        <C>           
Liabilities:
     Accounts payable and other liabilities                          $       474,875            $      575,463
     Borrowed funds                                                        1,047,164                 1,060,465
     Reserve for title policy claims                                         968,316                 1,027,607
     Deferred tax liability                                                  920,073                   920,073
                                                                     ---------------            --------------
         Total Liabilities                                                 3,410,428                 3,583,608
                                                                     ---------------            --------------


Stockholders' Equity:
     Preferred stock, Series A, $0.20 par value -
       authorized  250,000  shares; issued 57,000 shares
       (liquidation preference $2,280,000)                                    11,400                    11,400
     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                                2,162,889                 2,162,889
     Additional paid-in capital - common                                  11,498,331                11,498,331
     Retained earnings (deficit)                                         (2,720,129)               (2,725,070)
     Treasury stock, at cost - 201,554 shares                              (818,773)                 (818,773)
     Net unrealized gain (loss) on marketable
       equity securities held for sale, net of taxes                       (185,091)                 (194,990)
                                                                     ---------------            --------------
         Total Stockholders' Equity                                       11,048,913                11,034,073
                                                                     ---------------            --------------

         Total Liabilities and Stockholders' Equity                  $    14,459,341            $   14,617,681
                                                                     ===============            ==============
</TABLE>

*Condensed from audited financial statements

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





                                      -4-
<PAGE>


FIRSTMARK CORP. AND SUBSIDIARIES

Condensed Consolidated Statements of Operations (Unaudited)
<TABLE>
<CAPTION>
===================================================================================================================
                                                                                        Three Months Ended
                                                                              March 31,
                                                                                1998                   1997
                                                                                ----                   ----
<S>                                                                         <C>                   <C>         
Revenues
     Title insurance                                                        $  2,575,714          $  2,145,729
     Investment gains (losses)                                                    22,583             (145,674)
     Interest and dividends                                                       95,362               165,207
     Other revenues                                                               72,538                44,448
                                                                            ------------          ------------

         Total revenues                                                        2,766,197             2,209,710
                                                                            ------------          ------------

Expenses
     Employee compensation and benefits                                        1,204,045             1,091,632
     Commissions and fee expense                                                 635,525               745,104
     Write-offs of investments                                                         -               100,000
     General and administrative expenses                                         775,646               714,367
     Minority interest                                                           111,840                57,726
                                                                            ------------          ------------

         Total expenses                                                        2,727,056             2,708,829
                                                                            ------------          ------------

Earnings (losses) before income taxes                                             39,141             (499,119)

Income tax (benefit) expense                                                           -             (169,648)
                                                                            ------------          ------------

Net earnings (loss)                                                               39,141             (329,471)

Preferred stock dividend                                                          34,200                34,200
                                                                            ------------          ------------

Net earnings (loss) applicable to common shares                             $      4,941          $  (363,671)
                                                                            ============          ============


Earnings (loss) per common share - basic and diluted                               $ .00                $(.16)
                                                                            ============          ============

Weighted - average number of shares outstanding                                5,299,876             2,271,144
                                                                            ============          ============
</TABLE>


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




                                      -5-
<PAGE>


FIRSTMARK CORP. AND SUBSIDIARIES

Condensed Consolidated Statements of Cash Flows (Unaudited)
<TABLE>
<CAPTION>
===================================================================================================================

                                                                                    Three Months Ended
                                                                                         March 31,
                                                                                         ---------
                                                                                 1998                 1997
                                                                                 ----                 ----
<S>                                                                          <C>                  <C>
Cash flows from Operating Activities
     Net earnings (loss)                                                     $    39,141          $  (329,471)
     Adjustments to reconcile net income
       to net cash provided by operating activities
         Depreciation and amortization                                            55,734                59,370
         Write-down of investments                                                     -               100,000
         Collection of income taxes receivable                                         -               144,773
         Marketable securities - trading account                                       -             (171,928)
         Changes in assets and liabilities                                        27,704              (79,215)
                                                                             -----------          ------------

         Net cash provided (used) by operating activities                        122,579             (276,471)
                                                                             -----------          ------------

Cash flows from Investing Activities
     Decrease in real estate                                                           -               200,955
     Decrease in notes receivable                                                  8,983                26,665
     Securities held for sale                                                     52,837                99,116
     Securities held to maturity                                                 397,230                     -
     Decrease in venture capital investments                                      87,300                     -
                                                                             -----------          ------------

         Net cash provided by investing activities                               546,350               326,736
                                                                             -----------          ------------

Cash flows from Financing Activities
     Preferred stock dividends                                                  (34,200)              (34,200)
     Repayments of borrowed funds                                               (13,301)             (201,237)
                                                                             -----------          ------------

         Net cash used by financing activities                                  (47,501)             (235,437)
                                                                             -----------          ------------

Net change in cash and cash equivalents                                          621,428             (185,172)

Cash and cash equivalents, beginning of period                                 2,293,136             1,832,681
                                                                             -----------          ------------

Cash and cash equivalents, end of period                                     $ 2,914,564          $  1,647,509
                                                                             -----------          ------------

Cash payments for interest                                                   $    28,077          $     33,431
                                                                             ===========          ============
</TABLE>

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




                                      -6-
<PAGE>


FIRSTMARK CORP. AND SUBSIDIARIES

Notes to Condensed 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, 1997 of Firstmark
       Corp.  (the  "Company"),  as amended,  as filed with the  Securities  and
       Exchange Commission. The December 31, 1997 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, 1998 are not necessarily indicative of the results to be expected for
       the full year.

3.     Earnings (Loss) Per Share

       The Company adopted the provisions of SFAS No. 128, "Earnings Per Share,"
       for the year  ended  December  31,  1997.  SFAS No. 128  establishes  new
       standards for computing and presenting  earnings per share  ("EPS").  The
       statement replaces the presentation of primary EPS with basic EPS and the
       presentation of fully diluted EPS with diluted EPS. 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.





                                      -7-
<PAGE>



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

         Through a subsidiary,  Southern Title Insurance  Corporation  ("STIC"),
Firstmark  Corp.  (the  "Company")  is  principally  engaged in the  business of
issuing title insurance.  The Company also makes venture capital and real estate
investments  either  in the form of pure  equity  investments  or in the form of
loans with an equity  participation  feature and makes  control  investments  in
situations where the Company's management actually operates the business.  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.  A complete  discussion of the Company's  business is contained in
Item 1,  Description  of Business,  of Amendment No. 1 to the  Company's  Annual
Report on Form  10-KSB  (the  "Form  10-KSB"),  filed  with the  Securities  and
Exchange Commission on April 20, 1998.

Results of Operations

                        Three Months ended March 31, 1998
                compared to the Three Months ended March 31, 1997
                -------------------------------------------------

         Total  revenues for the three months ended March 31, 1998  increased to
approximately  $2,766,000, an increase of approximately $556,000 or 20% compared
to total revenues of approximately  $2,210,000 in the comparable  quarter of the
prior year. The increase is primarily  attributable to increased title insurance
revenues due to the favorable  interest rate environment,  which has generated a
significant  number of refinancings  in the residential and commercial  markets.
Investment gains amounted to  approximately  $23,000 for the quarter ended March
31, 1998 compared to a loss of $146,000 in the prior year quarter. Losses in the
prior year quarter were  primarily  the result of sales of certain  investments,
principally small cap stocks, to increase the Company's liquidity.  Interest and
dividends  revenue  decreased  approximately  $70,000 to $95,000 for the quarter
ended March 31, 1998 as compared to $165,000 for the  comparable  quarter of the
prior year.  The  decrease  is  primarily  the result of a one-time  dividend of
approximately  $94,000  received  in the prior  year  quarter. 

         Operating  expenses and general and  administrative  expenses increased
approximately  $64,000  during the current  quarter  compared to the  comparable
quarter of the prior year.  This  increase is primarily the result of (i) higher
personnel  costs  related  to  increasing  volumes  and  expansion  of the title
insurance  operations  and (ii) an increase in the  provision  for policy claims
primarily  attributable  to legal  expenses  pertaining to the Lake Anna lawsuit
(for further information on this lawsuit, see Item 3, Legal Proceedings,  of the
Form  10-KSB).  The  write-off of  investments  of $100,000 in the quarter ended
March 31,  1997 (none in the  current  year  quarter)  relates  to  management's
decision to provide an  allowance  for certain  investments,  where the ultimate
realization of the Company's investment was in doubt.





                                      -8-
<PAGE>

Liquidity and Capital Resources

         The Company's cash and cash equivalents were  approximately  $2,915,000
at March 31, 1998 as compared to  $2,293,000  at December 31, 1997.  However,  a
significant portion of the cash and cash equivalents  (approximately  $2,036,000
at March 31, 1998 and $1,707,000 at December 31, 1997) was held by a subsidiary,
STIC, and is subject to certain regulatory requirements as to use.

         The Company  intends to satisfy its  obligations  through cash on hand,
income tax refunds, sales of marketable securities and other assets and payments
received  on  loans  receivable.  Management  believes  that its  available  and
expected sources of cash will be sufficient to enable the Company to satisfy its
obligations as they come due. Additionally, the Company has an available line of
credit of $500,000, for which no borrowings are outstanding at March 31, 1998.

Year 2000 and Recent Accounting Pronouncements

         Reference is made to the disclosures  included under the headings "Year
2000" and "Recent Accounting  Pronouncements" in Item 6, Management's Discussion
and  Analysis of  Financial  Condition  and Results of  Operations,  of the Form
10-KSB.




                                      -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

            No matters were  submitted to a vote of security  holders during the
            quarter ended March 31, 1998.

Item 5.     Other Information

            Not applicable.

Item 6.     Exhibits and Reports on Form 8-K

            (a)     Exhibits

                    27      Financial Data Schedule (filed electronically only).

            (b)     Reports on Form 8-K - none.




                                      -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 20, 1998                        /s/ Donald V. Cruickshanks
                                           -------------------------------------
                                           Donald V. Cruickshanks
                                           President and Chief Executive Officer



Date:  May 20, 1998                        /s/ Ronald C. Britt
                                           -------------------------------------
                                           Ronald C. Britt
                                           Chief Financial Officer