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                         UNITED STATES
               SECURITIES AND EXCHANGE COMMISSION
                     Washington, D.C. 20549
                           FORM 10-K/A
(Mark One)
[X]      ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d)
             OF THE SECURITIES EXCHANGE ACT OF 1934
          For the Fiscal Year Ended December 31, 1995
                               OR
[  ]   TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d)
             OF THE SECURITIES EXCHANGE ACT OF 1934

         For the Transition Period from     N/A  to
                                          ------     ------

                 Commission File Number: 1-9566
                    FirstFed Financial Corp.
     (Exact name of registrant as specified in its charter)

              Delaware                               95-4087449
       (State or other jurisdiction of          (I.R.S. Employer
        incorporation or organization)          Identification No.)

           401 Wilshire Boulevard
         Santa Monica, California                      90401-1490
       (Address of principal executive offices)        (Zip Code)

   Registrant's  telephone number, including  area  code: (310) 319-6000

          Securities registered pursuant to Section 12(b) of the Act:
                         Common Stock $0.01 par value
                              (Title of Class)

      Securities registered pursuant to Section 12(g) of the Act:  None

Indicate  by check mark whether the Registrant (1) has filed  all
reports  required  to be filed by Section  13  or  15(d)  of  the
Securities  Exchange Act of 1934 during the preceding  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
                                           -------        -------

The  approximate aggregate market value of the voting stock  held
by  non-affiliates  of the Registrant as of  February  15,  1996:
$139,389,004.

The number of shares of Registrant's $0.01 par value common stock
outstanding as of  February 15, 1996:  10,614,402.

               DOCUMENTS INCORPORATED BY REFERENCE

Portions   of   the  Proxy  Statement  for  Annual   Meeting   of
Stockholders, April 24, 1996 (Parts III & IV).

Indicate  by  check  mark  if  disclosure  of  delinquent  filers
pursuant  to Item 405 of Regulation S-K (sub-section  229.405  of
this chapter) is not contained herein, and will not be contained,
to  the  best of Registrant's knowledge, in definitive  proxy  or
information statements incorporated by reference in Part  III  of
the Form 10-K or any amendment to this Form 10-K. [X]
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                                SIGNATURES

      Pursuant to the requirements of Section 13 or 15(d) of  the
Securities  Exchange Act of 1934, the Registrant has duly  caused
this  report  to  be  signed on its behalf  by  the  undersigned,
thereunto duly authorized.

                              FIRSTFED  FINANCIAL  CORP.,
                              a Delaware corporation

                              By:      /s/ Babette E. Heimbuch
                                       -----------------------
                                          Babette E. Heimbuch
                                          President and
                                          Chief Executive Officer


Date:   February 27, 1998

                            POWER OF ATTORNEY

      Each person whose signature appears below hereby authorizes
Babette  E.  Heimbuch and Douglas Goddard, and each  of  them  or
either  of them, as attorney-in-fact to sign on his or her behalf
as  an individual and in every capacity stated below, and to file
all  amendments to the Registrant's Form 10-K, and the Registrant
hereby confers like authority to sign and file in its behalf.

      Pursuant to the requirements of the Securities Exchange Act
of  1934,  this  report has been signed below  by  the  following
persons  on  behalf  of  the Registrant  and  in  the  capacities
indicated on the 27th day of February, 1998.

         SIGNATURE                               TITLE

        /s/  Babette E. Heimbuch       Chief Executive Officer  (Principal
        --------------------------
        Babette E. Heimbuch            Executive Officer)

        /s/  Douglas J. Goddard        Executive Vice President and
        --------------------------
        Douglas J. Goddard             Chief  Financial   Officer
                                       (Principal Financial Officer)

        /s/ Brenda J. Battey           Senior Vice President and Controller
        --------------------------        
        Brenda J. Battey               (Principal Accounting Officer)

        /s/ Christopher M. Harding     Director
        --------------------------
        Christopher M. Harding

        /s/ James L. Hesburgh          Director
        --------------------------
        James L. Hesburgh

        /s/ William S. Mortensen       Chairman of the Board
        --------------------------
        William S. Mortensen

        /s/  William G. Ouchi          Director
        --------------------------
        William G. Ouchi

        /s/ William P. Rutledge        Director
        --------------------------
        William P. Rutledge

        /s/ Charles F. Smith           Director
        --------------------------
        Charles F. Smith

        /s/ Steven L. Soboroff         Director
        --------------------------
        Steven L. Soboroff

        /s/ John R. Woodhull           Director
        --------------------------
        John R. Woodhull

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