FORM 10-QSB

                   U.S. 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, 1997


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

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



                         FIRST FEDERAL BANCORP, INC.
      -----------------------------------------------------------------
      (Exact name of small business issuer 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:  (614) 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, 1997, the latest practicable date, 1,571,716 shares of 
the registrant's common stock, no par value, were issued and outstanding.

Page 1 of 14 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                                                14


                                   PART I
                                   ------

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

                         First Federal Bancorp, Inc.

               CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION

<TABLE>
<CAPTION>
                                                                               At March 31     At September 30
                                                                                  1997              1996
                                                                               ------------    ---------------

<S>                                                                            <C>              <C>
ASSETS
Cash and amounts due from depository institutions                              $  5,355,849     $  4,986,988
Overnight deposits                                                                3,300,000        3,175,000
                                                                               -----------------------------
      Cash and cash equivalents                                                $  8,655,849     $  8,161,988
Investment securities held to maturity (Fair value - $4,545,000
 in 3/97 and $4,546,000 in 9/96)                                                  4,549,684        4,548,069
Mortgage-backed securities held to maturity (Fair value - $1,547,000
 in 3/97 and $1,658,000 in 9/96)                                                  1,542,254        1,661,018
Loans receivable, net                                                           165,865,158      160,297,702
Premises and equipment, net                                                       7,330,357        6,553,874
Accrued interest receivable and other assets                                      3,742,921        3,244,605
                                                                               -----------------------------
      Total Assets                                                             $191,686,223     $184,467,256
                                                                               =============================


LIABILITIES AND STOCKHOLDERS' EQUITY
Liabilities
  Deposits                                                                     $128,519,607     $130,071,616
  Borrowed funds                                                                 46,690,000       37,970,000
  Advances from borrowers for taxes and insurance                                   373,898          540,734
  Accrued expenses and other liabilities                                          1,424,445        1,887,057
                                                                               -----------------------------
      Total Liabilities                                                        $177,007,950     $170,469,407
                                                                               -----------------------------

Stockholders' Equity
  Preferred stock, $100 par value, 1,000,000 shares
   authorized, no shares issued and outstanding
  Common stock, no par value, 4,000,000 shares
   authorized, 1,653,300 shares issued                                         $  3,656,323     $  3,656,323
  Retained earnings                                                              11,536,345       10,876,921
  Treasury shares, 78,384 shares                                                   (514,395)        (535,395)
                                                                               -----------------------------
      Total Stockholders' Equity                                               $ 14,678,273     $ 13,997,849
                                                                               -----------------------------

      Total Liabilities and Stockholders' Equity                               $191,686,223     $184,467,256
                                                                               =============================

</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
                                                             ------------------------    ------------------------
                                                                1997          1996          1997          1996
                                                                ----          ----          ----          ----

<S>                                                          <C>           <C>           <C>           <C>
INTEREST INCOME
  Interest and fees on loans                                 $3,443,385    $3,224,315    $6,876,189    $6,441,336
  Interest on mortgage-backed securities                         28,773        33,266        58,972        65,587
  Interest on investment securities                              56,728        62,802       120,670       133,424
  Interest on other interest earning investments                 42,578        30,659        85,120        64,160
                                                             ----------------------------------------------------
      Total Interest Income                                   3,571,464     3,351,042     7,140,951     6,704,507
                                                             ----------------------------------------------------

INTEREST EXPENSE
  Interest on deposits                                        1,244,427    1,353,276      2,541,963     2,727,586
  Interest on borrowed money                                    683,289      400,830      1,283,173       822,228
                                                             ----------------------------------------------------
      Total Interest Expense                                  1,927,716    1,754,106      3,825,136     3,549,814
                                                             ----------------------------------------------------

      Net Interest Income                                     1,643,748    1,596,936      3,315,815     3,154,693
                                                             ----------------------------------------------------

      Provision for Loan Losses                                  12,427        2,123        160,090        46,021

      Net Interest Income After Provision for Loan Losses     1,631,321    1,594,813      3,155,725     3,108,672
                                                             ----------------------------------------------------

NONINTEREST INCOME
  Service charges on deposit accounts                            74,787       76,157        150,635       154,903
  Gain on sale of loans                                           9,552       11,289         24,912        25,420
  Dividends on FHLB stock                                        41,673       28,952         79,297        57,794
  Other operating income                                        100,604       89,100        203,736       188,678
                                                             ----------------------------------------------------
      Total Noninterest Income                                  226,616      205,498        458,580       426,795
                                                             ----------------------------------------------------

NONINTEREST EXPENSE
  Salaries and employee benefits                                553,533      509,042      1,010,625       993,746
  Occupancy and equipment expense                               175,872      122,661        348,548       240,668
  Deposit insurance expense                                      18,253       87,547        105,855       171,475
  Data processing expense                                        88,516       76,886        167,608       146,616
  Advertising                                                    66,671       46,344        124,285        86,747
  Ohio franchise taxes                                           49,209       45,874         94,147        87,702
  Other operating expenses                                      250,700      199,250        475,161       401,684
                                                             ----------------------------------------------------
      Total Noninterest Expenses                              1,202,754    1,087,604      2,326,229     2,128,638
                                                             ----------------------------------------------------

      Income Before Income Taxes                                655,183      712,707      1,288,076     1,406,829
                                                             ----------------------------------------------------

      Provision for Income Taxes                                219,413      239,254        428,348       468,048
                                                             ----------------------------------------------------

      Net Income                                             $  435,770    $ 473,453     $  859,728    $  938,781
                                                             ====================================================

EARNINGS PER COMMON & COMMON
 EQUIVALENT SHARES
      Primary                                                $      .25    $     .28     $      .49    $      .56
                                                             ----------------------------------------------------
      Fully diluted                                          $      .25    $     .28     $      .49    $      .55
                                                             ----------------------------------------------------

WEIGHTED AVERAGE COMMON AND
 COMMON EQUIVALENT SHARES
      Primary                                                 1,721,139    1,695,282      1,740,022     1,687,332
                                                             ----------------------------------------------------
      Fully diluted                                           1,726,654    1,697,280      1,751,309     1,697,189
                                                             ----------------------------------------------------


DIVIDENDS DECLARED PER SHARE                                 $      .06    $     .05     $      .12    $      .10
                                                             ----------------------------------------------------

</TABLE>


                         First Federal Bancorp, Inc.

                    CONSOLIDATED STATEMENTS OF CASH FLOWS
                                 (UNAUDITED)

<TABLE>
<CAPTION>
                                                                               Six Months Ended
                                                                                   March 31
                                                                         ---------------------------
                                                                             1997            1996
                                                                             ----            ----

<S>                                                                      <C>             <C>
CASH FLOWS FROM OPERATING ACTIVITIES:
  Net Income                                                             $   859,728     $   938,781

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

    Provision for loan losses                                                160,090          46,021
    Depreciation                                                             210,096         112,942
    Federal Home Loan Bank stock dividends                                   (79,200)        (57,700)
    Amortization of net premiums (discounts) on investment securities        (39,808)         20,601
    Mortgage loans originated for sale                                    (2,271,476)     (2,588,790)
    Proceeds from sale of mortgage loans                                   2,272,142       2,570,288
    Change in other assets and other liabilities                            (425,928)        (32,172)
                                                                         ---------------------------

      Net Cash Provided by Operating Activities                              685,644       1,009,971
                                                                         ---------------------------

CASH FLOWS FROM INVESTING ACTIVITIES:
  Proceeds from maturities of investment securities                        3,255,074       1,509,427
  Purchases of investment securities/FHLB stock                           (3,672,681)     (1,249,500)
  Loans originated, net of principal repayments                           (5,819,385)       (202,622)
  Principal collected on mortgage-backed securities                          118,764          97,867
  Purchases of premises and equipment                                       (986,579)     (1,621,874)
  Proceeds from sales of real estate and other chattel owned                  83,228          24,975
                                                                         ---------------------------

      Net Cash Used for Investing Activities                              (7,021,579)     (1,441,727)
                                                                         ---------------------------

CASH FLOWS FROM FINANCING ACTIVITIES:
  Net change in deposit accounts                                          (1,552,009)      2,982,303
  Net change in advance payments by borrowers for taxes and insurance       (166,836)         51,714
  Net change in borrowed funds                                             8,720,000      (2,150,000)
  Dividends paid                                                            (180,659)       (156,912)
  Proceeds from exercise of options                                            9,300              --
                                                                         ---------------------------

      Net Cash Provided by Financing Activities                            6,829,796         727,105
                                                                         ---------------------------

NET CHANGE IN CASH AND CASH EQUIVALENTS                                      493,861         295,349

CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD                           8,161,988       6,335,583
                                                                         ---------------------------

CASH AND CASH EQUIVALENTS AT END OF PERIOD                               $ 8,655,849     $ 6,630,932
                                                                         ===========================

</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, 1997, 
and September 30, 1996, and the results of its operations for the three and 
six months ended March 31, 1997, and 1996, and its cash flow for the six 
months ended March, 1997 and 1996.  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 $876,310 and $191,435 respectively, at March 31, 1997.

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

Earnings per share (EPS) is based upon the weighted average number of shares 
of common stock and common stock equivalents outstanding during the period.  
The common stock equivalents that result from the outstanding stock options 
granted are based on the average market price of the Company's stock for 
primary EPS and on the ending market price for the fully diluted EPS.  On 
November 6, 1996, and on October 26, 1994, the Board of Directors declared 
two-for-one stock splits in the form of 100% stock dividends.  All earnings 
and dividends per share disclosures have been restated to reflect these 
stock splits.

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 possible 
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.

Statement of Financial Accounting Standards ("SFAS") No. 114, "Accounting by 
Creditors for Impairment of a Loan," as amended by SFAS No. 118, became 
effective October 1, 1995, and requires recognition of loan impairment.  
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, 1997.

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 
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 99.2 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 grow slightly during fiscal year 
    1997; and
3.  Legislative changes with respect to the federal thrift charter.

Changes in Financial Condition from September 30, 1996, to March 31, 1997
-------------------------------------------------------------------------

Total consolidated assets of Bancorp increased by $7.2 million, or 3.90%, 
from $184.5 million at September 30, 1996, to $191.7 million at March 31, 
1997.  The increase is due primarily to an increase in loans receivable of 
$5.6 million, a $535,000 increase in FHLB stock, and a $776,000 increase in 
premises and equipment due to the $4.0 million renovation and construction 
project at the Main Office, which was completed in November 1996.

Total liquidity (consisting of cash and amounts due from depository 
institutions, interest-bearing deposits in other banks, and investment 
securities) was $13.2 million at March 31, 1997, which is an increase of 
$495,000 from September 30, 1996.  The regulatory liquidity of the Savings 
Bank was 5.58% at March 31, 1997, which was in excess of the minimum 
regulatory requirement of 5%.  Funds are available through FHLB advances to 
meet the Savings Bank's liquidity requirement if necessary.

The loans receivable balance increased $5.6 million for the six-month period 
as the anticipated steady mortgage and consumer loan volume in the Savings 
Bank's  market area continued.

As of March 31, 1997, the Savings Bank had borrowed funds from the FHLB in 
the amount of $46.7 million at a weighted average rate of 6.20%.  FHLB 
advances increased $8.7 million, or 23%, from $38 million at September 30, 
1996.  Deposits decreased by $1.6 million, or 1.23%, from $130.1 million at 
September 30, 1996, to $128.5 million at March 31, 1997.  Management 
believes that the Savings Bank will experience a slight increase in deposits 
during the current fiscal year in spite of the decrease during the six 
months.  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, 1997.


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

              <S>                               <C>              <C>
              Actual Tangible Capital           $13,124           6.88%
              Required Tangible Capital           2,863           1.50%
                                                ----------------------
              Excess Tangible Capital           $10,261           5.38%

              Actual Core Capital               $13,124           6.88%
              Required Core Capital               5,726           3.00%
                                                ----------------------
              Excess Core Capital               $ 7,398           3.88%

              Actual Risk Based Capital         $14,428          11.64%
              Required Risk Based Capital         9,913           8.00%
                                                ----------------------
              Excess Risk Based Capital         $ 4,515           3.64%

</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.

The deposits of First Federal and other savings associations are insured by 
the FDIC in the SAIF.  The deposit accounts of commercial banks are insured 
by the FDIC in the Bank Insurance Fund (the "BIF"), except to the extent 
such banks have acquired SAIF deposits.

Legislation to recapitalize the SAIF and to eliminate the significant 
premium disparity between the BIF and the SAIF became effective September 
30, 1996.  Pursuant to the recapitalization plan, First Federal paid, on 
November 27, 1996, an additional pre-tax assessment of $800,100.  Such 
payment was recorded as an expense and accounted for by First Federal as of 
September 30, 1996.  Earnings and capital were, therefore, negatively 
affected for the quarter ended September 30, 1996, by an after-tax amount of 
approximately $528,000.

The recapitalization plan also provides that the cost of prior thrift 
failures will be shared by both the SAIF and the BIF, which has increased 
BIF assessments for healthy banks to $.013 per $100 of deposits in 1997.  
SAIF assessments for healthy savings associations in 1997 are $.064 per $100 
in deposits and may never be reduced below the level set for healthy BIF 
institutions.

The recapitalization plan also provides for the merger of the SAIF and the 
BIF effective January 1, 1999, assuming there are no savings associations 
under federal law.  Under separate proposed legislation, Congress is 
considering the elimination of the federal thrift charter and the separate 
federal regulation of thrifts.  As a result, First Federal would have to 
convert to a different financial institution charter and would be regulated 
under federal law as a bank, including being subject to the more restrictive 
activity limitations imposed on national banks.

In addition, Bancorp might become subject to more restrictive holding 
company requirements, including activity limits and capital requirements 
similar to those imposed on First Federal.  Bancorp cannot predict the 
impact of the conversion of First Federal to, or regulation of First Federal 
as, a bank until the legislation requiring such change is enacted.

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, 1996, First Federal had approximately 
$1.1 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.

Comparison of Operating Results for the Three- and Six-Month
------------------------------------------------------------
Periods Ended March 31, 1997, and 1996
--------------------------------------

Net interest income before provision for loan losses increased $47,000 for 
the three-month period and $161,000 for the six-month period.  The net 
increase is a result of the increases in total interest income exceeding 
increases in total interest expense.  Total interest income increased by 
$220,000 for the three-month period and $436,000 for the six-month period 
ended March 31, 1997, compared to the same period in 1996.  The increases 
are primarily due to an increase in the interest rate earned on mortgage 
loans and an increase in loans receivable as the result of the stable loan 
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.

Interest expense increased by $174,000 for the three-month period and 
$275,000 for the six-month period ended March 31, 1997, as the result of the 
increases in borrowings at the Federal Home Loan Bank due to a decline in 
savings deposits and the increased rate paid for funds.  The weighted 
average rate on the FHLB borrowings is 6.20%, which is higher than the 
weighted average rate of 4.05% that was paid on savings deposits.

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

Total nonaccrual loans and accruing loans that are 90 days past due were 
$613,000 at March 31, 1997, which represents .37% of total loans.  This was 
an increase of $107,000 from March 31, 1996.

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 and on real 
estate owned.  The allowance for losses on loans and on real estate owned 
was $1,711,000 at March 31, 1997, compared to $1,550,000 at March 31, 1996.  
During the six-month period ended March 31, 1997, the Savings Bank recorded 
charge offs of $60,000 and no net recoveries, compared to zero charge offs 
and net recoveries of $4,700 during the same period of 1996.  The provisions 
for loan losses during the six-month periods ended March 31, 1997, and 1996, 
were $160,000 and $46,000 respectively.

The Savings Bank classified no loans meeting the definition of impaired 
during the quarter ended March 31, 1997.

The Savings Bank reviews on a monthly basis the allowance for loan losses.  
The review of loans to determine the appropriate loan loss provision 
includes consideration of relevant factors, including, but not limited to, 
trends in the level of nonperforming assets and classified loans, current 
and anticipated economic conditions in the primary lending area, past loss 
experience and possible losses arising from specific problem assets.  To a 
lesser extent, management also considers loan concentrations to single 
borrowers and changes in the composition of the loan portfolio.  While 
management believes that it uses the best information available to determine 
the appropriate allowance for loan losses, unforeseen market conditions 
could result in adjustments, and net earnings could be significantly 
affected if circumstances differ substantially from the assumptions used in 
making the final determination.

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

The federal income tax provision decreased $20,000 for the three-month 
period and $40,000 for the six-month period ended March 31, 1997, due to 
lower net income for the period.

Total noninterest income increased $21,000 for the comparative three-month 
periods and $32,000 for the comparative six-month periods ended March 31, 
1997, and 1996.  The increase for the comparative three- and six-month 
periods was due to an increase in dividends on FHLB stock of $13,000 for the 
comparative three-month periods and $22,000 for the comparative six-month 
periods, due to the increase in FHLB stock held, and an increase in other 
income of $12,000 for the comparative three-month periods and $15,000 for 
the comparative six-month periods ended March 31, 1997, and 1996.

Total noninterest expenses increased $115,000 for the comparative three-
month periods and $198,000 for the comparative six-month periods ended March 
31, 1997, and 1996.  Salaries and benefits increased $44,000 for the three-
month comparative periods and $17,000 for the comparative six-month periods.  
The salaries and benefits increase is due to the increase in staff for the 
comparative three- and six-month periods ended March 31, 1997.  Losses on 
real estate owned increased $32,000 for the three-month comparative period 
and $30,000 for the comparative six-month period.  The data processing 
expense increased $12,000 and $21,000 for the three- and six-month periods 
due to increased use of the service bureau products.  Occupancy expenses 
increased $53,000 for the comparative three-month periods and $108,000 for 
the comparative six-month periods ended March 31, 1997, and 1996, due to 
increased depreciation of $52,000 for the three-month comparative period and 
$92,000 for the comparative 6-month period as a result of the completion of 
the Main Office construction project.  FDIC insurance premiums decreased 
$69,000 for the comparative three-month periods and $66,000 for the 
comparative six-month periods ended March 31, 1997, due to the reduction in 
the SAIF premium and a reduction in the total deposit balances.

Advertising increased $20,000 for the comparative three-month periods and 
$38,000 for the comparative six-month periods ended March 31, 1997, and 
1996, due to the promotion of the new Main Office construction.

Impact of New Accounting Standards
----------------------------------

In May 1995, the FASB issued its SFAS No. 122, "Accounting for Mortgage 
Servicing Rights," which requires companies that engage in mortgage banking 
activities to recognize as separate assets rights to service mortgage loans 
for others.  This Statement was adopted by First Federal on October 1, 1996, 
and will be applied prospectively to rights arising from loans sold by First 
Federal after adoption of the Statement.  The adoption of SFAS No. 122 did 
not have a significant impact on First Federal's financial statements.

On October 1, 1996, First Federal adopted SFAS No. 123, "Accounting for 
Stock-Based Compensation."  SFAS No. 123 encourages but does not require 
entities to use a fair value based method to account for stock-based 
compensation plans such as the First Federal stock option plans.  If the 
fair value accounting encouraged by SFAS No. 123 is not adopted, entities 
must disclose the pro forma effect on net income and earnings per share had 
the accounting been adopted.  Fair value of a stock option is to be 
estimated using an option-pricing model that considers exercise price, 
expected life of the option, current price of the stock, expected price 
volatility, expected dividends on the stock, and the risk-free interest 
rate.  First Federal will disclose the pro forma impact of this 
pronouncement in 1997.

On March 3, 1997, FASB issued SFAS No. 128, "Earnings Per Share," which is 
effective for financial statements issued after December 15, 1997.  SFAS No. 
128 simplifies the calculation of earnings per share by replacing primary 
EPS with basis EPS.  First Federal expects SFAS No. 128 to have little 
impact on its earnings per share calculations in future years.  The 
Statement will not apply to First Federal until the first quarter of fiscal 
year 1998.


                                   PART II
                                   -------

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

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

ITEM 2.  CHANGES IN SECURITIES
         ---------------------
         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 19, 1997.  The following 
directors were elected to terms expiring in 1999.

<TABLE>
<CAPTION>
                                      For       Withheld
                                      ---       --------

         <S>                       <C>           <C>
         Ward D. Coffman, III      1,482,676     1,400
         Robert D. Goodrich, II    1,482,676     1,400
         Patrick L. Hennessey      1,482,676     1,400
         Connie Ayres LaPlante     1,482,676     1,400
</TABLE>


         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 First Federal Bancorp, Inc., 1997 Performance 
             Stock Option Plan for Senior Executive Officers and Outside 
             Directors:

             For 1,407,824    Against 60,456    Abstentions 15,796
                 ---------            ------                ------

         2.  To ratify the selection of Crowe, Chizek and Company LLP as the 
             auditors of Bancorp for the current fiscal year:

             For 1,482,376    Against      0    Abstentions  1,700
                 ---------            ------                ------


ITEM 5.  OTHER INFORMATION
         -----------------

         Not applicable

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

         Exhibit 3.1    Articles of Incorporation of First Federal Bancorp, 
                        Inc. (The Articles of Incorporation of First Federal 
                        Bancorp, Inc. ("Bancorp"), filed as Exhibit 3.1 to 
                        Bancorp's Registration Statement on Form S-1 ("S-1") 
                        filed with the Securities and Exchange Commission 
                        ("SEC") on March 16, 1992, are incorporated herein 
                        by reference.)
         Exhibit 3.2    Amendment to the Articles of Incorporation of First 
                        Federal Bancorp, Inc. (The Amendment to the Articles 
                        of Incorporation of Bancorp filed as Exhibit 3.2 to 
                        Bancorp's 10-K for the fiscal year ended September 
                        30, 1992, filed with the SEC on December 29, 1992 
                        (the "1992 10-K") is incorporated herein by 
                        reference.)
         Exhibit 3.3    Code of Regulations of First Federal Bancorp, Inc. 
                        (The Code of Regulations of Bancorp filed as Exhibit 
                        3.2 to Bancorp's S-1 filed with the SEC on March 16, 
                        1992, is incorporated herein by reference.)
         Exhibit 3.4    Amendment to the Code of Regulations of First 
                        Federal Bancorp, Inc. (The Amendment to the code of 
                        Regulations of Bancorp filed as Exhibit 3.4 to the 
                        1992 10-K is incorporated herein by reference.)
         Exhibit 10.9   First Federal Bancorp, Inc., 1997 Performance Stock 
                        Option Plan for Senior Executive Officers and 
                        Outside Directors (Incorporated by reference to 
                        Proxy Statement for 1997 Annual Meeting filed on 
                        January 10, 1997.)
         Exhibit 27:    Financial Data Schedule
         Exhibit 99.2:  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 14, 1997                    By: /s/ J. William Plummer
                                           ----------------------
                                           J. William Plummer
                                           President



Date:  May 14, 1997                    By: /s/ Connie Ayres LaPlante
                                           -------------------------
                                           Connie Ayres LaPlante
                                           Chief Financial Officer