FORM 10-QSB

                     SECURITIES AND EXCHANGE COMMISSION
                           Washington, D.C.  20549

                                 (Mark One)

[X]           QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d)
                   OF THE SECURITIES EXCHANGE ACT OF 1934

                For the quarterly period ended March 31, 1999


[ ]           TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d)
                   OF THE SECURITIES EXCHANGE ACT OF 1934

      For the transition period from            to          
                                     ----------    ----------
      Commission File No. 0-20380
                          -------


                         FIRST FEDERAL BANCORP, INC.
           ------------------------------------------------------
           (Exact name of registrant as specified in its charter)

                Ohio                                 31-1341110
   -------------------------------             ----------------------
   (State or other jurisdiction of                (I.R.S. Employer
   incorporation or organization)              Identification Number)

          505 Market Street
          Zanesville, Ohio                              43701
        ---------------------                        ----------
        (Address of principal                        (Zip Code)
          executive office)

      Registrant's telephone number, including area code:  (740) 453-0606

      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     
          -----                           -----

      As of April 30, 1999, the latest practicable date, 3,188,171 shares 
of the registrant's common stock, no par value, were issued and 
outstanding.

                             Page 1 of 13 Pages


                         FIRST FEDERAL BANCORP, INC.


                                    INDEX
                                    -----


PART I    FINANCIAL INFORMATION                               PAGE
                                                              ----

          Consolidated Statements of Financial Condition        3

          Consolidated Statements of Income                     4

          Consolidated Statements of Cash Flows                 5

          Notes to Consolidated Financial Statements            6

          Management's Discussion and Analysis of  
          Financial Condition and Results of  Operations        8


PART II   OTHER INFORMATION                                    12

          SIGNATURES                                           13


                                   PART I
                                   ------

                            FINANCIAL INFORMATION
                            ---------------------

                         First Federal Bancorp, Inc.

               CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION


<TABLE>
<CAPTION>
                                                                         At March 31      At September 30
                                                                             1999              1998
                                                                         -----------      ---------------

<S>                                                                      <C>               <C>
ASSETS
Cash and amounts due from depository institutions                        $  6,335,198      $  4,957,155
Overnight deposits                                                         11,825,000        13,375,000
                                                                         ------------------------------
      Cash and cash equivalents                                          $ 18,160,198      $ 18,332,155
Investment securities held to maturity (Fair value - $16,251,000 in 
 3/99 and $12,105,000 in 9/98)                                             16,310,139        12,092,484
Mortgage-backed securities held to maturity (Fair value - $1,149,000 
 in 3/99 and $1,252,000 in 9/98)                                            1,138,372         1,256,327
Loans receivable, net                                                     166,498,417       169,622,791
Premises and equipment, net                                                 7,137,116         7,347,715
Accrued interest receivable and other assets                                5,261,939         4,850,905
                                                                         ------------------------------
      Total Assets                                                       $214,506,181      $213,502,377
                                                                         ==============================

LIABILITIES AND STOCKHOLDERS' EQUITY
Liabilities
  Deposits                                                               $148,850,331      $147,688,662
  Borrowed funds                                                           46,989,817        47,995,988
  Advances from borrowers for taxes and insurance                             388,356           295,463
  Accrued expenses and other liabilities                                    1,180,755         1,022,450
                                                                         ------------------------------
      Total Liabilities                                                  $197,409,259      $197,002,563
                                                                         ------------------------------

Stockholders' Equity
  Preferred stock, $100 par value, 1,000,000 shares 
   authorized, no shares issued and outstanding 
  Common stock, no par value, 9,000,000 shares 
   authorized, 3,303,400 shares issued                                   $  3,656,323      $  3,656,323
  Retained earnings                                                        13,684,711        13,334,589
  Treasury shares, 115,229 shares in 3/99 and 152,868 in 9/98                (244,112)         (491,098)
                                                                         ------------------------------
      Total Stockholders' Equity                                         $ 17,096,922      $ 16,499,814
                                                                         ------------------------------

      Total Liabilities and Stockholders' Equity                         $214,506,181      $213,502,377
                                                                         ==============================
</TABLE>


See Notes to the Consolidated Financial Statements.


                         First Federal Bancorp, Inc.

                      CONSOLIDATED STATEMENTS OF INCOME

<TABLE>
<CAPTION>
                                                        Three Months Ended             Six Months Ended
                                                             March 31                      March 31
                                                     -------------------------     -------------------------
                                                        1999           1998           1999           1998
                                                        ----           ----           ----           ----

<S>                                                  <C>            <C>            <C>            <C>
INTEREST INCOME
  Interest and fees on loans                         $3,418,922     $3,828,236     $6,932,575     $7,623,805
  Interest on mortgage-backed securities                 20,622         36,671         43,425         62,696
  Interest on investment securities                     361,902        103,975        518,545        202,662
  Interest on other interest earning investments        177,746         23,405        383,547         56,496
                                                     -------------------------------------------------------
      Total Interest Income                           3,979,192      3,992,287      7,878,092      7,945,659
                                                     -------------------------------------------------------

INTEREST EXPENSE
  Interest on deposits                                1,534,375      1,315,182      3,111,783      2,650,422
  Interest on borrowed money                            728,342        974,875      1,481,608      1,920,213
                                                     -------------------------------------------------------
      Total Interest Expense                          2,262,717      2,290,057      4,593,391      4,570,635
                                                     -------------------------------------------------------
      Net Interest Income                             1,716,475      1,702,230      3,284,701      3,375,024
      Provision for Loan Losses                          24,623        179,102        (46,886)       408,058
                                                     -------------------------------------------------------
      Net Interest Income After Provision 
       for Loan Losses                                1,691,852      1,523,128      3,331,587      2,966,966
                                                     -------------------------------------------------------

NONINTEREST INCOME
  Service charges on deposit accounts                    77,808         76,095        157,384        157,886
  Gain on sale of loans                                  16,200         38,772         43,122         63,234
  Dividends on FHLB stock                                62,073         59,719        124,426        116,109
  Other operating income                                145,126        121,797        282,153        237,332
                                                     -------------------------------------------------------
      Total Noninterest Income                          301,207        296,383        607,085        574,561
                                                     -------------------------------------------------------

NONINTEREST EXPENSE
  Salaries and employee benefits                        635,740        574,239      1,207,236      1,026,968
  Occupancy and equipment expense                       223,396        211,060        449,799        407,062
  Deposit insurance expense                              36,047         34,825         71,819         69,112
  Data processing expense                               140,326        126,271        270,514        209,541
  Advertising                                            54,743         55,182        106,999        119,167
  Ohio franchise taxes                                   53,364         55,294        107,698        104,152
  Other operating expenses                              256,859        241,955        547,732        520,770
                                                     -------------------------------------------------------
      Total Noninterest Expenses                      1,400,475      1,298,826      2,761,797      2,456,772
                                                     -------------------------------------------------------
      Income Before Income Taxes                        592,584        520,685      1,176,875      1,084,755
      Provision for Income Taxes                        187,210        175,797        390,539        367,313
                                                     -------------------------------------------------------
      Net Income                                     $  405,374     $  344,888     $  786,336     $  717,442
                                                     =======================================================

EARNINGS PER SHARE
  Basic                                              $     .130     $     .110     $     .250     $     .230
                                                     -------------------------------------------------------
  Diluted                                            $     .120     $     .100     $     .230     $     .205
                                                     -------------------------------------------------------

WEIGHTED AVERAGE COMMON AND
 COMMON EQUIVALENT SHARES
  Basic                                               3,188,171      3,150,232      3,169,140      3,150,232
                                                     -------------------------------------------------------
  Diluted                                             3,459,300      3,506,870      3,458,643      3,491,036
                                                     -------------------------------------------------------
DIVIDENDS DECLARED PER SHARE                         $     .040     $     .035     $     .075     $     .070
                                                     -------------------------------------------------------
</TABLE>


                         First Federal Bancorp, Inc.

                    CONSOLIDATED STATEMENTS OF CASH FLOWS

<TABLE>
<CAPTION>
                                                                                            Six Months Ended
                                                                                                March 31
                                                                                      ----------------------------
                                                                                          1999            1998
                                                                                          ----            ----

<S>                                                                                   <C>              <C>
CASH FLOWS FROM OPERATING ACTIVITIES:
  Net Income                                                                          $    786,336     $   717,442

  Adjustments to reconcile net income to net cash 
   provided by operating activities:    

    Provision for loan losses                                                              (46,886)        408,058
    Depreciation                                                                           288,458         263,456
    Federal Home Loan Bank stock dividends                                                (124,300)       (116,000)
    Amortization of net premiums (discounts) on investment securities                     (164,495)        (12,648)
    Mortgage loans originated for sale                                                  (4,781,809)     (4,937,781)
    Proceeds from sale of mortgage loans                                                 4,685,559       5,012,256
    Change in other assets and other liabilities                                          (128,433)       (616,436)
                                                                                      ----------------------------
      Net Cash Provided by Operating Activities                                            514,430         718,347
                                                                                      ----------------------------

CASH FLOWS FROM INVESTING ACTIVITIES:
  Proceeds from maturities of investment securities                                     12,101,475       4,260,714
  Purchases of investment securities/FHLB stock                                        (16,154,635)     (4,247,497)
  Loans originated, net of principal repayments                                          3,161,010      (6,591,392)
  Principal collected on mortgage-backed securities                                        117,955          77,370
  Sale of real estate owned                                                                106,500         128,290
  Purchases of premises and equipment                                                      (77,859)       (212,776)
                                                                                      ----------------------------

      Net Cash Used for Investing Activities                                              (745,554)     (6,585,291)
                                                                                      ----------------------------

CASH FLOWS FROM FINANCING ACTIVITIES:
  Net change in deposit accounts                                                         1,161,669       7,274,918
  Net change in advance payments by borrowers for taxes and insurance                       92,893             (10)
  Net change in borrowed funds with original maturities of less than three months       (1,006,171)        560,000
  Dividends paid                                                                          (253,548)       (204,765)
  Proceeds from exercise of options                                                         64,324               0
                                                                                      ----------------------------

      Net Cash Provided by Financing Activities                                             59,167       7,630,143
                                                                                      ----------------------------

NET CHANGE IN CASH AND CASH EQUIVALENTS                                                   (171,957)      1,763,199

CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD                                        18,332,155       8,837,127
                                                                                      ----------------------------

CASH AND CASH EQUIVALENTS AT END OF PERIOD                                             $18,160,198     $10,600,326
                                                                                      ============================
</TABLE>


                         FIRST FEDERAL BANCORP, INC.
                 Notes to Consolidated Financial Statements

1.    Basis of Presentation
      ---------------------

The accompanying unaudited Consolidated Financial Statements have been 
prepared in accordance with generally accepted accounting principles for 
interim financial information and the instructions to Form 10-QSB.  The 
Form 10-QSB does not include all the information and footnotes required by 
generally accepted accounting principles for complete financial statements.  
Only material changes in financial condition and results of operations are 
discussed in Management's Discussion and Analysis of Financial Condition 
and Results of Operations.

In the opinion of management, the condensed Consolidated Financial 
Statements contain all adjustments necessary to present fairly the 
financial condition of First Federal Bancorp, Inc. ("Bancorp"), as of March 
31, 1999, and September 30, 1998, and the results of its operations for the 
three and six months ended March 31, 1999, and 1998, and its cash flow for 
the six months ended March, 1999 and 1998.  The results of operations for 
the interim periods reported herein are not necessarily indicative of 
results of operations to be expected for the entire year.

2.    Commitments
      -----------

Outstanding commitments to originate mortgage loans and to sell mortgage 
loans were $5,513,320 and $149,950 respectively, at March 31, 1999, and 
$1,846,409 and $53,700 respectively at September 30, 1998.

3.    Earnings and Dividends Per Common Share
      ---------------------------------------

Basic earnings per share is based on net income divided by the weighted 
average number of shares outstanding during the period.  Diluted earnings 
per share shows the dilutive effect of additional common shares issuable 
under stock options.  On June 3, 1998, the Board of Directors declared a 
two-for-one stock split in the form of a 100% stock dividend.  All earnings 
and dividends per share disclosures have been restated to reflect this 
stock split.

4.    Allowance for Losses on Loans
      -----------------------------

Because some loans may not be repaid in full, an allowance for loan losses 
is recorded.  Increases to the allowance are recorded by a provision for 
loan losses charged to expense.  Estimating the risk of loss and the amount 
of loss on any loan is necessarily subjective.  Accordingly, the allowance 
is maintained by management at a level considered adequate to cover 
probable losses that are currently anticipated based on past loss 
experience, general economic conditions, information about specific 
borrower situations, including their financial position and collateral 
values, and other factors and estimates which are subject to change over 
time.  While management may periodically allocate portions of the allowance 
for specific problem loan situations, the whole allowance is available for 
any loan charge-offs that occur.  A loan is charged-off by management as a 
loss when deemed uncollectible, although collection efforts continue and 
future recoveries may occur.

Loans are considered impaired if full principal or interest payments are 
not anticipated.  Impaired loans are carried at the present value of 
expected cash flows discounted at the loan's effective interest rate or at 
the fair value of the collateral if the loan is collateral dependent.  A 
portion of the allowance for loan losses is allocated to impaired loans.

Smaller-balance, homogeneous loans are evaluated for impairment in total.  
Such loans include residential first mortgage loans secured by one- to 
four-family residences, residential construction loans, and automobile, 
home equity and second mortgage loans.  Mortgage loans secured by other 
properties are evaluated individually for impairment.  When analysis of 
borrower operating results and financial condition indicates that 
underlying cash flows of the borrower's business are not adequate to meet 
its debt service requirements, the loan is evaluated for impairment. Loans 
are generally moved to nonaccrual status when 90 days or more past due.  
These loans are often also considered impaired.  Impaired loans, or 
portions thereof, are charged-off when deemed uncollectible.  The nature of 
disclosures for impaired loans is considered generally comparable to prior 
nonaccrual and renegotiated loans and nonperforming and past-due asset 
disclosures.  The Savings Bank had no loans meeting the definition of 
impaired during the quarter ended March 31, 1999, and the year ended 
September 30, 1998.

5.    Interest Income on Loans
      ------------------------

Interest on loans is accrued over the term of the loans based upon the 
principal outstanding.  Management reviews loans delinquent 90 days or more 
to determine if the interest accrual should be discontinued.  The carrying 
value of impaired loans reflects cash payments, revised estimates of future 
cash flows, and increases in the present value of expected cash flows due 
to the passage of time.  Cash payments representing interest income are 
reported as such and other cash payments are reported as reductions in 
carrying value.  Increases or decreases in carrying value due to changes in 
estimates of future payments or the passage of time are reported as 
reductions or increases in bad debt expense.


                   MANAGEMENT'S DISCUSSION AND ANALYSIS OF
                FINANCIAL CONDITION AND RESULTS OF OPERATIONS

General
-------

First Federal Bancorp, Inc. ("Bancorp"), is a savings and loan holding 
company that wholly owns First Federal Savings Bank of Eastern Ohio (the 
"Savings Bank").  The Savings Bank is engaged in the savings and loan 
business primarily in Central and Eastern Ohio.  The Savings Bank is a 
member of the Federal Home Loan Bank ("FHLB") of Cincinnati, and the 
deposit accounts in the Savings Bank are insured up to the applicable 
limits by the Federal Deposit Insurance Corporation in the Savings 
Association Insurance Fund ("SAIF").

Note Regarding Forward-Looking Statements
-----------------------------------------

In addition to historical information contained herein, the following 
discussion contains forward-looking statements that involve risks and 
uncertainties.  Economic circumstances, First Federal's operations and 
First Federal's actual results could differ significantly from those 
discussed in the forward-looking statements.  Some of the factors that 
could cause or contribute to such differences are discussed herein but also 
include changes in the economy and interest rates in the nation and First 
Federal's market area generally.  See Exhibit 99.1 hereto, which is 
incorporated herein by reference.

Some of the forward-looking statements included herein are the statements 
regarding the following:

1.    Management's determination of the amount of loan loss allowance;

2.    Management's belief that deposits will increase slightly during 
      fiscal year 1999;

3.    Management's anticipation that no additional advances from the FHLB 
      will be necessary to fund loan originations;

4.    Management's anticipation that some adjustable-rate loans will 
      reprice higher in fiscal year 1999 and the remainder will not reprice 
      substantially lower if interest rates remain relatively stable; and

5.    Legislative changes with respect to the federal thrift charter.

Changes in Financial Condition from September 30, 1998 to March 31, 1999
------------------------------------------------------------------------

Total consolidated assets of Bancorp increased by $1.0 million, or .47%, 
from $213.5 million at September 30, 1998, to $214.5 million at March 31, 
1999.  The increase is due primarily to an increase of $4.2 million in 
investments held to maturity, offset by a decrease in loans receivable of 
$3.1 million.

Total liquidity (consisting of cash and amounts due from depository 
institutions, interest-bearing deposits in other banks, and investment 
securities) was $34.5 million at March 31, 1999, which is an increase of 
$4.0 million from September 30, 1998.  The regulatory liquidity of the 
Savings Bank was 17.18% at March 31, 1999 and 14.13% at September 30, 1998, 
which was in excess of the minimum regulatory requirement of 4%.  Funds are 
available through FHLB advances to meet the Savings Bank's liquidity 
requirement if necessary.

The loans receivable balance decreased $3.1 million for the six-month 
period as the current trend of refinancing of mortgage loans resulted in a 
decrease of outstanding loans.

As of March 31, 1999, the Savings Bank had borrowed funds from the FHLB in 
the amount of $47.0 million at a weighted average rate of 6.35%.  FHLB 
advances decreased $1.0 million from $48.0 million at September 30, 1998.  
Deposits increased by $1.2 million, or .79%, from $147.7 million at 
September 30, 1998, to $148.9 million at March 31, 1999.  Management 
believes that the Savings Bank will experience a slight increase in 
deposits during the current fiscal year.  As the result of the decrease in 
the SAIF premium cost, the Savings Bank can afford to pay depositors a 
slightly higher rate while managing the cost of funds.  FHLB advances have 
increased in cost compared to deposits of a similar term.  The Savings Bank 
therefore plans to become more aggressive in promoting deposit products.  
No assurance can be provided, however, that deposits will grow.  Deposit 
levels are affected by national, as well as local, interest rates and other 
national and local economic circumstances.

The Savings Bank is subject to regulatory capital requirements established 
by the Office of Thrift Supervision ("OTS").  The Savings Bank's capital 
ratios were as follows at March 31, 1999.

<TABLE>
<CAPTION>
                                          Amount         Percent of
                                      (In Thousands)       Assets
                                      --------------     ----------

      <S>                                <C>               <C>
      Actual Tangible Capital            $15,212            7.10%
      Required Tangible Capital            3,212            1.50%
                                         -----------------------
      Excess Tangible Capital            $12,000            5.60%

      Actual Core Capital                $15,212            7.10%
      Required Core Capital                8,566            4.00%
                                         -----------------------
      Excess Core Capital                $ 6,646            3.10%

      Actual Risk Based Capital          $16,500           12.17%
      Required Risk Based Capital         10,850            8.00%
                                         -----------------------
      Excess Risk Based Capital          $ 5,650            4.17%
</TABLE>


Management is not aware of any proposed regulations or recommendations by 
the OTS that, if implemented, would have a material effect upon the Savings 
Bank's capital.

In August 1996, Congress passed legislation repealing the reserve method of 
accounting used by many thrifts to calculate their bad debt reserve for 
federal income tax purposes and requiring any bad debt reserves taken after 
1987, using the percentage of taxable income method, be included in future 
taxable income of the association over a six-year period.  A two-year delay 
is permitted for institutions meeting a residential mortgage loan 
origination test.  At September 30, 1998, First Federal had approximately 
$1.6 million in bad debt reserves subject to recapture for federal income 
tax purposes.  The deferred tax liability related to the recapture was 
established in prior years, so First Federal's net income will not be 
negatively affected by this legislation.

Year 2000 Considerations
------------------------

As with all financial institutions, First Federal's operations depend 
almost entirely on computer systems.  First Federal is addressing the 
potential problems associated with the possibility that the computers that 
control or operate First Federal's operating systems, facilities and 
infrastructure may not be programmed to read four-digit date codes and, 
upon arrival of the year 2000, may recognize the two-digit code "00" as the 
year 1900, causing systems to fail to function or to generate erroneous 
data.  An overall plan, developed by the Year 2000 Committee, was approved 
by the Board of Directors and put into effect in 1998.  This plan is a 
step-by-step process of awareness, assessment, remediation and testing of 
hardware, software and embedded systems, as well as a customer awareness 
program, contingency plan and business continuity plan.

First Federal has been upgrading its technology as part of a planned 
performance quality commitment and for maintaining a competitive position.  
As a result, much of the Bank's internal systems now incorporate technology 
that has been year 2000 ("Y2K") tested and certified.  Beginning in fiscal 
year 1996, the Bank's capital budget included replacement of all personal 
computers ("PCs") throughout the Company over a 3- to 4-year period.  This 
will bring most PCs into compliance.  The Savings Bank has used its current 
internal staffing with little reliance on outside resources.  Major vendors 
have provided remediated software.  First Federal believes that any 
additional Y2K costs will be immaterial.

First Federal has no software that is internally developed and relies 
primarily on third-party vendors for its computer output and processing, as 
well as other significant functions and services, such as securities 
safekeeping services, securities pricing information and wire transfers.  
The Year 2000 Committee is working with the vendors to assess their Y2K 
readiness.  Based upon an initial assessment, the Board of Directors 
believes that with planned modifications to existing software and hardware 
and planned conversions to new software and hardware, the third-party 
vendors are taking the appropriate steps to ensure that critical systems 
will function properly.  The planned modifications and conversions should 
be completed and tested by June 30, 1999.

If the modifications and conversions by third-party vendors and First 
Federal are not completed on a timely basis or if they fail to function 
properly, the operations and financial condition of First Federal could be 
materially adversely affected.  If testing reveals that any system critical 
to continued business operation should fail, all internal and external 
resources available will be directed toward correcting these systems.  
First Federal's contingency plan, which continues to be developed, allows 
for continued operations in the event of system failure.  Current testing 
of mission-critical systems started in the fourth quarter of 1998 and is 
expected to continue through the second quarter of 1999.  Testing includes 
all core systems required for continued Bank operation and includes 
interfaces with critical third-party vendors.  At this time, testing has 
not revealed any deficiencies in the remediated systems and all testing is 
progressing as planned.  First Federal has a concern in the case where 
there is possible interruption of electrical power, which is certainly a 
concern that all businesses face due to the interdependencies within the 
nation's power grid.  First Federal has developed plans for manually 
processing core operations.  

First Federal has a plan in place to educate our personnel and to inform 
our customers of the Year 2000 issue.  Brochures have been distributed to 
customers and are readily available upon request.

First Federal may experience increases in problem loans and credit losses 
in the event that borrowers or major employers in our area fail to prepare 
properly for Y2K.  First Federal has contacted major borrowers to assess 
their awareness and status regarding their year 2000 compliance, although 
loans to commercial borrowers constitute 1.04% of the loan portfolio.  
First Federal faces the risk of loss of deposits and consequent liquidity 
problems should Bank customers lose confidence in the Savings Bank in 
particular, or the banking system in general, and choose to withdraw their 
funds.  Customers who experience cash flow problems due to their own lack 
of year 2000 preparedness could fund their cash shortfall by withdrawing 
their deposits from the Company, thereby causing liquidity problems.  First 
Federal also intends to increase its cash reserves during the final months 
of 1999 and take any other steps deemed necessary to meet liquidity needs.  
First Federal could also be materially adversely affected if other third 
parties, such as governmental agencies, clearinghouses, telephone 
companies, utilities and other service providers fail to prepare properly.  
First Federal is therefore attempting to assess these risks and take action 
to minimize their effect.

Comparison of Operating Results for the Three- and Six-Month
------------------------------------------------------------
Periods Ended March 31, 1999, and 1998
--------------------------------------

Net interest income before provision for loan losses increased $14,245 for 
the three-month comparative periods and decreased $90,323 for the 
comparative six-month periods.  Total interest decreased by $13,095 for the 
three-month period and $67,567 for the six-month period ended March 31, 
1999, compared to the same periods in 1998.  The decrease is primarily due 
to a decrease in the interest rate earned on mortgage loans and a decrease 
in loans receivable as the result of the refinancing trend in the market.  
The majority of the loans in the Savings Bank's portfolio are adjustable-
rate mortgage loans whose interest rates fluctuate with market interest 
rates.

If interest rates remain relatively stable during fiscal year 1999, the 
adjustable-rate mortgage loan portfolio will reprice at slightly higher 
rates, as most loans originated during fiscal year 1998 were not initially 
priced at the fully indexed interest rate.  These loans will be repricing 
upward at their first adjustment in fiscal year 1999 while the balance of 
the adjustable-rate mortgage loan portfolio will not reprice substantially 
lower during fiscal year 1999.  No assurance can be provided, however, that 
interest rates will remain stable.  Interest rates are affected by general, 
local and national economic conditions, the policies of various regulatory 
authorities and other factors beyond the control of First Federal.  
Interest expense decreased by $27,340 for the comparative three-month 
period, as the result of decreases in interest rates of savings deposits at 
First Federal and increased $22,756 for the comparative six-month period 
ended March 31, 1999, as the result of increased savings balances at First 
Federal.

Nonperforming and Delinquent Loans and Allowance for Loan Losses
----------------------------------------------------------------

Total nonaccrual loans and accruing loans that are 90 days past due were 
$408,000 at March 31, 1999, which represents .25% of total loans.  This was 
a decrease of $70,000 from March 31, 1998.

There were no loans that are not currently classified as nonaccrual, 90 
days past due or restructured but which may be so classified in the near 
future because management has concerns as to the ability of the borrowers 
to comply with repayment terms.

The Savings Bank maintains an allowance for losses on loans.  The allowance 
for losses on loans was $1,798,000 at March 31, 1999, compared to 
$2,148,000 at March 31, 1998.  During the six-month periods ended March 31, 
1999, and March 31, 1998, the Savings Bank recorded no recoveries and 
charge-offs of $197,000 and $76,000 respectively.  Charge-offs increased 
$121,000 due to the losses taken on the sale of repossessed cars.  A 
percentage of the outstanding loan balances is added or deducted from the 
provision for loan losses as the loan portfolio increases and decreases.  
During the six-month period ended March 31, 1999, the loan portfolio 
decreased $3.1 million, which caused the provision for loan losses for the 
period to decrease.  The provisions for loan losses during the six-month 
periods ended March 31, 1999, and 1998, were $(47,000) and $408,000 
respectively. 

Noninterest Income and Expense
------------------------------

Total noninterest income increased $5,000 for the three-month period and 
$33,000 for the six-month period ended March 31, 1999, compared to the same 
period in 1998.  Dividends on FHLB stock increased $2,400 for the three-
month period and $8,300 for the six-month period ended March 31, 1999 due 
an increase in FHLB stock held.  Other income increased $23,000 for the 
comparative three-month periods and $45,000 for the comparative six-month 
periods due to a $17,000 increase in loan late charges and other loan fees 
and an increase of $20,000 on ATM fees due to surcharging noncustomer use 
of ATMs for the six-month periods.

Total noninterest expenses increased $102,000 for the three-month period 
and $305,000 for the six-month period ended March 31, 1999, compared to the 
same periods in 1998.  Salaries and benefits increased $180,000 as a result 
of an increase of $61,000 in retirement plan accrual costs for the six-
month period ended March 31, 1999, and an increase in salaries of $69,000.  
Salaries increased due to the increase in staff for the comparative six-
month periods.  Occupancy expense increased $43,000 for the six-month 
period ended March 31, 1999; $25,000 of the increase was due to increased 
depreciation on furniture and fixtures, and $17,000 of the increase was due 
to increased costs for routine repairs and maintenance at branch offices.  
Data processing costs increased $61,000 due to the costs associated with 
the utilization of a networking system and the new check-imaging product.

The federal income tax provision increased $11,413 for the three-month 
period and $23,226 for the six-month period ended March 31, 1999, compared 
to the same period in 1998 due to an increase in pre-tax net income for the 
period.

Impact of Inflation and Changing Prices
---------------------------------------

The financial statements and related data presented herein have been 
prepared in accordance with generally accepted accounting principles 
("GAAP"), which require the measurement of financial position and results 
of operations in terms of historical dollars without considering changes in 
relative purchasing power of money over time because of inflation.

Unlike most industrial companies, virtually all of the assets and 
liabilities of First Federal are monetary in nature.  As a result, interest 
rates have a more significant impact on First Federal's performance than 
the effects of general levels of inflation.  Interest rates do not 
necessarily move in the same direction or in the same magnitude as the 
prices of goods and services.

Effect of Accounting Changes
----------------------------

In June 1997, the FASB issued SFAS No. 131, "Disclosures about Segments of 
an Enterprise and Related Information."  This Statement significantly 
changes the way that public business enterprises report information about 
operating segments in annual financial statements and requires that those 
enterprises report selected information about reportable segments in 
interim financial reports issued to shareholders.  It also establishes 
standards for related disclosures about products and services, geographic 
areas and major customers.  SFAS 131 uses a "management approach" to 
disclose financial and descriptive information about an enterprise's 
reportable operating segments which is based on reporting information the 
way management organizes the segments within the enterprise for making 
operating decisions and assessing performance.  For many enterprises, the 
management approach will likely result in more segments being reported.  In 
addition, the Statement requires significantly more information to be 
disclosed for each reportable segment than is presently being reported in 
annual financial statements.  The Statement also requires that selected 
information be reported in interim financial statements.  SFAS 131 is 
effective for financial statements for periods beginning after December 15, 
1997.  The Company does not anticipate that any further disclosures will be 
necessary.

In February 1998, the FASB issued SFAS No. 132, "Employers' Disclosures 
about Pensions and Other Postretirement Benefits."  SFAS No. 132 amends the 
disclosure requirements of SFAS No. 87, "Employers' Accounting for 
Pensions," SFAS No. 88, "Employers' Accounting for Settlements and 
Curtailments of Defined Benefit Pension Plans and for Termination of 
Benefits," and SFAS No. 106, "Employers' Accounting for Postretirement 
Benefits Other Than Pensions."  This Statement standardizes the disclosure 
requirements of SFAS No. 87 and No. 106 to the extent practicable and 
recommends a parallel format for presenting information about pensions and 
other postretirement benefits.  The Statement does not change any of the 
measurement or recognition provisions provided for in SFAS No. 87, No. 88 
or No. 106.  This Statement is effective for fiscal years beginning after 
December 15, 1997.  First Federal adopted SFAS No. 132 on October 1, 1998, 
and required disclosures will be included beginning with the Company's 1999 
Annual Report.

In June 1998, the FASB issued SFAS No. 133, "Accounting for Derivative 
Instruments and Hedging Activities."  SFAS No. 133 standardizes the 
accounting for derivative instruments, including certain derivative 
instruments embedded in other contracts.  Under the standard, entities are 
required to carry all derivative instruments in the statement of financial 
position at fair value.  The accounting for changes in the fair value (i.e. 
gains or losses) of a derivative instrument depends on whether it has been 
designated and qualifies as part of a hedging relationship and, if so, on 
the reason for holding it.  If certain conditions are met, entities may 
elect to designate a derivative instrument as a hedge of exposures to 
changes in fair value, cash flows, or foreign currencies.  If the hedged 
exposure is a fair value exposure, the gain or loss on the derivative 
instrument is recognized in earnings in the period of change together with 
the offsetting loss or gain on the hedged item attributable to the risk 
being hedged.  If the hedged exposure is a cash flow exposure, the 
effective portion of the gain or loss on the derivative instrument is 
reported initially as a component of other comprehensive income (outside 
earnings) and subsequently reclassified into earnings when the forecasted 
transaction affects earnings.  Any amounts excluded from the assessment of 
hedge effectiveness as well as the ineffective portion of the gain or loss 
are reported in earnings immediately.  Accounting for foreign currency 
hedges is similar to accounting for fair value and cash flow hedges.  If 
the derivative instrument is not designated as a hedge, the gain or loss is 
recognized in earnings in the period of change.  This Statement will not 
have a material effect on the Company.  


                                   PART II

                              OTHER INFORMATION
                              -----------------

ITEM 1.   LEGAL PROCEEDINGS
          -----------------
          Not applicable

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
          ---------------------------------------------------

          The annual meeting was held February 17, 1999.  The following 
          Directors were elected to terms expiring in 2001.

                                        For        Withheld
                                        ---        --------

          Ward D. Coffman, III       2,575,557     150,392
          Robert D. Goodrich, II     2,575,557     150,392
          Patrick L. Hennessey       2,575,557     150,392
          Connie Ayres LaPlante      2,575,557     150,392

          Those directors continuing their term were John C. Matesich, III; 
          Don R. Parkhill and J. William Plummer.

          Two other matters were presented to the shareholders.

          1.  To approve the amendment to Bancorp's Articles of 
              Incorporation to increase the authorized number of common 
              shares from 4,000,000 to 9,000,000:
              For  2,527,568    Against  180,381    Abstentions  18,000
                   ---------             -------                 ------

          2.  To ratify the selection of Crowe, Chizek and Company LLP as 
              the Auditors of Bancorp for the   current fiscal year:
              For  2,705,064    Against  400    Abstentions  20,485
                   ---------             ---                 ------

ITEM 5.   OTHER INFORMATION
          -----------------
          Not applicable

ITEM 6.   EXHIBITS AND REPORTS ON FORM 8-K
          --------------------------------

          Exhibit 3.1   The Articles of Incorporation of First Federal 
                        Bancorp, Inc. ("Bancorp"), filed as Exhibit 4a(1) 
                        to Bancorp's Registration Statement on Form S-8 
                        filed with the Securities and Exchange Commission 
                        ("SEC") on February 1, 1994 (the "1994 S-8"), are 
                        incorporated herein by reference.
          Exhibit 3.2   The Amendment to the Articles of Incorporation of 
                        Bancorp, filed as Exhibit 4a(1) to the 1994 S-8, is 
                        incorporated herein by reference.
          Exhibit 3.3   The Code of Regulations of Bancorp filed as Exhibit 
                        4b to Bancorp's Registration Statement on S-8, 
                        filed with the SEC on February 1, 1994, is 
                        incorporated herein by reference.
          Exhibit 3.4   The Amendment to the Code of Regulations of Bancorp 
                        filed as Exhibit 4b to Bancorp's Registration 
                        Statement on S-8, filed with the SEC on February 1, 
                        1994, is incorporated herein by reference.
          Exhibit 27    Financial Data Schedule
          Exhibit 99.1  Safe Harbor Under the Private Securities Litigation 
                        Reform Act of 1995

          No reports on Form 8-K were filed during the quarter for which 
          this report is filed.


                                 SIGNATURES
                                 ----------


Pursuant to the requirements of the Securities Exchange Act of 1934, the 
registrant has duly caused this report to be signed on its behalf by the 
undersigned thereunto duly authorized.





Date:  May 10, 1999                    By: /s/ J. William Plummer
                                           ----------------------
                                           J. William Plummer
                                           President



Date:  May 10, 1999                    By: /s/ Connie Ayres LaPlante
                                           -------------------------
                                           Connie Ayres LaPlante
                                           Chief Financial Officer