FORM 10-QSB

                     SECURITIES AND EXCHANGE COMMISSION
                           Washington, D.C.  20549

                                 (Mark One)

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

                For the quarterly period ended March 31, 2004


              [ ]   TRANSITION REPORT UNDER 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) 588-2222
As of April 30, 2004, the latest practicable date, 3,286,201 shares of the
registrant's common stock, no par value, were issued and outstanding.

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

Transitional Small Business Disclosure Format:

Yes                        No     X
     -------                   -------


<PAGE>  Page 1 of 13 Pages


                         FIRST FEDERAL BANCORP, INC.

                                    INDEX
                                    -----

PART I    FINANCIAL INFORMATION                                       PAGE
                                                                      ----

Item 1.   Financial Statements

          Consolidated Balance Sheets                                   3

          Consolidated Statements of Income                             4

          Consolidated Statements of Cash Flows                         5

          Notes to Consolidated Financial Statements                    6

Item 2.   Management's Discussion and Analysis of
          Financial Condition and Results of Operations                 7

Item 3.   Controls and Procedures

PART II   OTHER INFORMATION                                            12

Item 1.   Legal Proceedings

Item 2.   Changes in Securities

Item 3.   Defaults Upon Senior Securities

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

Item 5.   Other Information

Item 6.   Exhibits and Reports on Form 8-K

          SIGNATURES                                                   13


<PAGE>  2


                                   PART I
                                   ------

ITEM 1.                     FINANCIAL INFORMATION
                            ---------------------

                         First Federal Bancorp, Inc.

                         CONSOLIDATED BALANCE SHEETS

<TABLE>
<CAPTION>
                                              At March 31      At Sept. 30
                                                 2004             2003
                                              -----------      -----------
                                              (unaudited)
                                              -----------

                                          <c>              <c>
ASSETS
Cash and amounts due from banks              $  4,308,157     $  3,123,216
Interest-bearing demand deposits                1,500,000        1,500,000
                                             ------------     ------------
Cash and cash equivalents                    $  5,808,157     $  4,623,216
Interest-bearing deposits                       2,693,000        2,193,000
Investment securities held to maturity
 (Fair value - $7,658,000 in 3/04 and
 $8,498,000 in 9/03)                            7,891,012        8,470,324
Loans receivable, net of losses of
 $1,619,000 and $1,509,000                    220,005,530      205,475,995
Federal Home Loan Bank stock                    4,879,600        4,783,400
Premises and equipment                          6,914,328        7,113,867
Interest receivable                             1,122,963        1,148,254
Other assets                                    1,185,831          719,596
                                             ------------     ------------
      Total Assets                           $250,500,421     $234,527,652
                                             ============     ============

LIABILITIES AND STOCKHOLDERS' EQUITY
Liabilities
  Deposits                                   $179,302,544     $164,447,049
  Short-term FHLB advances                      6,666,000        6,360,000
  Long-term debt                               39,916,809       39,925,131
  Interest payable                                260,632          273,951
  Other liabilities                             1,659,567        1,443,641
                                             ------------     ------------
      Total Liabilities                      $227,805,552     $212,449,772
                                             ------------     ------------

COMMITMENTS AND CONTINGENCIES
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; 3,286,201
   shares outstanding at 3/04 and
   3,260,681 at 9/03                         $  3,823,153     $  3,823,153
  Retained earnings                            19,004,970       18,584,939
  Treasury shares, 17,199 shares at
   3/04 and 42,719 at 9/03, at cost              (133,254)        (330,212)
                                             ------------     ------------
      Total Stockholders' Equity             $ 22,694,869     $ 22,077,880
                                             ------------     ------------

      Total Liabilities and
       Stockholders' Equity                  $250,500,421     $234,527,652
                                             ============     ============
</TABLE>

See Notes to the Consolidated Financial Statements.


<PAGE>  3


                         First Federal Bancorp, Inc.
                      CONSOLIDATED STATEMENTS OF INCOME
                                 (unaudited)

<TABLE>
<CAPTION>
                                               Three Months Ended             Six Months Ended
                                                    March 31                      March 31
                                               -------------------           -------------------
                                               2004           2003           2004           2003
                                               ----           ----           ----           ----


                                         <c>            <c>            <c>            <c>
INTEREST INCOME
  Loans receivable                          $3,308,434     $3,366,100     $6,503,077     $6,814,131
  Investment securities                         85,694        126,433        177,919        272,846
  Deposits with financial institutions          15,632          8,336         29,867         18,408
                                            ----------     ----------     ----------     ----------
      Total Interest Income                  3,409,760      3,500,869      6,710,863      7,105,385
                                            ----------     ----------     ----------     ----------
INTEREST EXPENSE
  Deposits                                     714,868        882,144      1,430,775      1,860,412
  Borrowed money                               510,982        491,231      1,044,991      1,045,004
                                            ----------     ----------     ----------     ----------
      Total Interest Expense                 1,225,850      1,373,375      2,475,766      2,905,416
                                            ----------     ----------     ----------     ----------
      Net Interest Income                    2,183,910      2,127,494      4,235,097      4,199,969
      Provision for Loan Losses                 70,163         (6,151)       293,496         69,371
                                            ----------     ----------     ----------     ----------
      Net Interest Income After
       Provision for Loan Losses             2,113,747      2,133,645      3,941,601      4,130,598
                                            ----------     ----------     ----------     ----------
INCOME
  Service charges on deposit accounts          167,815        159,341        365,946        333,115
  Net gains on loan sales                      121,820         33,927        216,632        (16,979)
  Other income                                 173,725        160,084        394,858        343,665
                                            ----------     ----------     ----------     ----------
      Total other income                       463,360        353,352        977,436        659,801
                                            ----------     ----------     ----------     ----------
EXPENSE
  Salaries and employee benefits               733,629        715,593      1,526,371      1,467,288
  Occupancy and equipment expense              264,435        256,275        547,289        504,817
  Data processing expense                      162,937        166,078        335,040        325,672
  Deposit insurance expense                     22,213         21,887         43,812         43,736
  Advertising                                  109,679        105,272        200,218        181,721
  Ohio franchise taxes                          60,050         61,000        120,311        122,094
  Other operating expenses                     425,604        412,937        770,895        743,715
                                            ----------     ----------     ----------     ----------
      Total other expenses                   1,778,547      1,739,042      3,543,936      3,389,043
                                            ----------     ----------     ----------     ----------
  Income Before Income Taxes                   798,560        747,955      1,375,101      1,401,356
      Income tax expense                       275,534        257,809        474,747        483,423
                                            ----------     ----------     ----------     ----------
      Net Income                            $  523,026     $  490,146     $  900,354     $  917,933
                                            ==========     ==========     ==========     ==========
EARNINGS PER SHARE
  Basic                                     $      .16     $      .15     $      .28     $      .28
                                            ----------     ----------     ----------     ----------
  Diluted                                   $      .16     $      .15     $      .27     $      .27
                                            ----------     ----------     ----------     ----------
WEIGHTED AVERAGE COMMON AND
 COMMON EQUIVALENT SHARES
  Basic                                      3,267,126      3,234,782      3,263,978      3,246,284
                                            ----------     ----------     ----------     ----------
  Diluted                                    3,370,893      3,349,369      3,368,845      3,365,043
                                            ----------     ----------     ----------     ----------
DIVIDENDS DECLARED PER SHARE                $     .060     $     .055     $      .12     $      .11
                                            ----------     ----------     ----------     ----------
</TABLE>

See Notes to the Consolidated Financial Statements.


<PAGE>  4


                         First Federal Bancorp, Inc.

                    CONSOLIDATED STATEMENTS OF CASH FLOWS
                                 (unaudited)

<TABLE>
<CAPTION>
                                                                    Six Months Ended
                                                                        March 31
                                                                 ----------------------
                                                                 2004              2003
                                                                 ----              ----


                                                          <c>               <c>
OPERATING ACTIVITIES:
  Net Income                                                 $    900,354      $    917,933
  Adjustments to reconcile net income
   to net cash provided by operating activities:

    Provision for loan losses                                     293,496            69,371
    Depreciation and amortization                                 312,608           307,858
    Investment securities accretion, net                          100,931            89,295
    FHLB stock dividend                                           (96,200)          (97,700)
    Net change in
      Mortgage loans held for sale                                      0                 0
      Other assets and other liabilities                         (235,903)          239,672
                                                             ------------      ------------

      Net Cash Provided by Operating Activities                 1,275,286         1,526,429
                                                             ------------      ------------

INVESTING ACTIVITIES:
  Net change in interest-bearing deposits                        (500,000)            3,000
  Purchase of securities held to maturity                      (2,590,563)       (4,025,365)
  Proceeds from maturities of securities held to maturity       3,068,944         3,957,819
  Net change in loans                                         (14,974,775)       (3,370,448)
  Purchase of premises and equipment                             (113,069)          (66,169)
  Proceeds from sales and payments received on real
   estate owned and repossessed assets                            151,746           376,164
                                                             ------------      ------------

      Net Cash (Used) Provided by Investing Activities        (14,957,717)       (3,124,999)
                                                             ------------      ------------

FINANCING ACTIVITIES:
  Net change in
    Deposits                                                   14,855,496         5,226,082
    Advance payments by borrowers for taxes and insurance          (2,436)          (10,802)
    Short-term borrowings                                         306,000         7,431,000
  Proceeds of long-term debt                                            0                 0
  Repayment of long-term debt                                      (8,322)      (10,007,839)
  Cash dividends                                                 (392,860          (355,123)
  Treasury Shares Purchased                                        (4,505)         (360,548)
  Proceeds from exercise of options                               113,999             3,530
                                                             ------------      ------------

      Net Cash (Used) Provided by Financing Activities         14,867,372         1,926,300
                                                             ------------      ------------

NET CHANGE IN CASH AND CASH EQUIVALENTS                         1,184,941           327,730
                                                             ------------      ------------

CASH AND CASH EQUIVALENTS, BEGINNING OF YEAR                 $  4,623,216      $  6,223,753
                                                             ============      ============

CASH AND CASH EQUIVALENTS, END OF YEAR                       $  5,808,157      $  6,551,483
                                                             ============      ============
</TABLE>

See Notes to the Consolidated Financial Statements.


<PAGE>  5


                         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 accounting principles generally accepted in the
United States of America 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 accounting principles generally
accepted in the United States of America 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.

The consolidated balance sheet as of September 30, 2003 has been derived
from the audited consolidated balance sheet as of that date.

In the opinion of management, the Consolidated Financial Statements contain
all adjustments necessary to present fairly the financial condition of
First Federal Bancorp, Inc. ("Bancorp"), as of March 31, 2004, and
September 30, 2003, and the results of its operations for the three and six
months ended March 31, 2004, and 2003, and its cash flows for the six
months ended March, 2004 and 2003.  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 $531,320 and $170,280, respectively, at March 31, 2004 and
$1,910,662 and $719,743 respectively at September 30, 2003.

3.    Earnings Per Common Share
      -------------------------

Basic earnings per share is based upon the weighted-average number of
common shares outstanding during the period.  Diluted earnings per common
share include the dilutive effect of additional potential common shares
issuable under stock option plans.  The computations are as follows:

<TABLE>
<CAPTION>
                                                              Three Months Ended        Six Months Ended
                                                                   March 31                  March 31
                                                              ------------------        -----------------
                                                              2004         2003         2004         2003
                                                              ----         ----         ----         ----


                                                        <c>          <c>          <c>          <c>
Weighted-average common shares outstanding (basic)         3,267,126    3,234,782    3,263,978    3,246,284
Dilutive effect of assumed exercise of stock options         103,767      114,587      104,867      118,759
                                                           ---------    ---------    ---------    ---------

Weighted-average common shares outstanding (dilutive)      3,370,893    3,349,369    3,368,845    3,365,043
                                                           =========    =========    =========    =========
</TABLE>

Options to purchase 51,085 and 49,485 shares of common stock with
respective weighted-average exercise prices of $9.91 and $9.66 were
outstanding at March 31, 2004 and 2003, respectively, but were excluded
from the computation of common share equivalents for the three-month
periods then ended, because the exercise prices were greater than the
average market price of the common shares.

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


<PAGE>  6


collateral if the loan is collateral dependent.  A portion of the allowance
for loan losses may be 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, 2004 and the year ended
September 30, 2003.

5.    Stock Options
      -------------

Bancorp accounts for its stock option plan under the recognition and
measurement principles of APB Opinion No. 25, Accounting for Stock Issued
to Employees, and related Interpretations.  No stock-based employee
compensation cost is reflected in net income, as all options granted under
those plans had an exercise price equal to the market value of the
underlying common stock on the grant date.  The following table illustrates
the effect on net income and earnings per share if the company had applied
the fair value provisions of FASB Statement No. 123, Accounting for Stock
Based Compensation, to stock-based employee compensation.

<TABLE>
<CAPTION>
                                                           Three Months Ended        Six Months Ended
                                                               March 31                  March 31
                                                           ------------------        -----------------
                                                           2004         2003         2004         2003
                                                           ----         ----         ----         ----


                                                      <c>          <c>          <c>          <c>
Net Income, as reported                                  $523,026     $490,146     $900,354     $917,933
Less:  Total stock-based employee compensation
       cost determined under the fair value based
       method, net of income taxes                          5,619       23,583       11,238       42,195
                                                         --------     --------     --------     --------
Pro forma net income                                     $517,407     $446,563     $889,116     $875,738
                                                         ========     ========     ========     ========
Earnings Per Share:
  Basic - as reported                                    $    .16     $    .15     $    .28     $    .28
                                                         --------     --------     --------     --------
  Basic - pro forma                                      $    .16     $    .14     $    .27     $    .27
                                                         --------     --------     --------     --------
  Diluted - as reported                                  $    .16     $    .15     $    .27     $    .27
                                                         --------     --------     --------     --------
  Diluted - pro forma                                    $    .15     $    .14     $    .26     $    .26
                                                         --------     --------     --------     --------
</TABLE>

ITEM 2.

                   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, the Savings Bank's operations and
the Savings Bank'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
the Savings Bank's market area generally.
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 during fiscal
            year 2004;

      3.    Management's anticipation that loan demand will remain stable,
            and that the mortgage loan portfolio may increase as lower
            interest rates make adjustable mortgages, which are held in
            portfolio rather than being sold, more attractive;

      4.    Management's anticipation that advances from the FHLB will
            decrease as savings increase during fiscal year 2004; and

      5.    Management's anticipation that adjustable-rate loans will
            reprice lower in fiscal year 2004 if interest rates remain
            relatively stable or decrease;

Changes in Financial Condition from September 30, 2003 to March 31, 2004
------------------------------------------------------------------------

Total consolidated assets of Bancorp increased by $16.0 million, or 6.81%,
from $234.5 million at September 30, 2003, to $250.5 million at March 31,
2004.  The increase is due primarily to an increase of $14.5 million in
loans receivable, an increase of $1.1 million in cash and cash equivalents,
and a $.4 million increase in other assets.

Total liquidity (consisting of cash and amounts due from depository
institutions, interest-bearing deposits in other banks, and investment
securities) was $16.4 million at March 31, 2004, which is an increase of
$1.1 million from September 30, 2003.  The OTS requires savings
associations to maintain a sufficient level of investments in specified
types of liquid assets intended to provide a source of relatively liquid
funds upon which the Savings Bank may rely if necessary to fund deposit
withdrawals and other short-term funding needs.  The liquidity of the
Savings Bank, defined as adjusted liquid assets divided by deposits (not
including jumbo certificates due in one year or less), was 4.92% at March
31, 2004 and 5.13% at September 30, 2003.  Funds are available through FHLB
advances to meet the Savings Bank's liquidity needs.

The loans receivable balance increased $14.5 million for the six-month
period.  The increase in loans receivable was comprised of an increase in
residential real estate loans of $9.4 million, a $1.4 million increase in
consumer automobile loans, a $1.7 million increase in non-residential real
estate loans and commercial loans and a $2.0 million increase in consumer
line of credit loans and other consumer loans.  The increase in residential
loans was due to the general increase in the market on rates charged for
fixed-rate loans.  This resulted in fewer loans sold in the secondary
market as more customers opted for variable rate loans.  Management
anticipates that the mortgage loan portfolio may increase as lower interest
rates make adjustable mortgages, which are held in portfolio rather than
being sold, more attractive.  As part of the Saving Bank's interest rate
management variable rate loans are kept in the loan portfolio.  The
increase in consumer auto loans was due to an increased volume in loans
originated due to lower interest rates offered.

As of March 31, 2004, the Savings Bank had long- and short-term borrowed
funds from the FHLB in the amount of $39.9 million and $6.7 million,
respectively, at a weighted average rate of 4.43%.  Long-term FHLB advances
remained stable at $39.9 million and short-term FHLB advances increased
$300,000 from September 30, 2003.  As of March 31, 2004, the Savings Bank
had a borrowing limit of $79.8 million at the FHLB.  The limit is
collateralized by one-to-four and multi-family mortgage loans.  The net
increase in FHLB advances of $300,000 was due to the growth of the loan
portfolio exceeding the growth in deposits.  Deposits increased by $14.9
million, or 9.03%, from $164.4 million at September 30, 2003, to $179.3
million at March 31, 2004.  The increase in savings was due to a $9.2
million increase in jumbo deposits, which are $100,000 or more per account,
from national sources, a $3.1 million increase in various checking accounts
and a $2.6 million increase in certificate accounts.  Management believes
that deposits will increase during fiscal year 2004 and that FHLB advances
will decrease as savings balances increase.  No assurance can be provided,
however, that deposits will increase and that the loan portfolio may
increase and loan demand may remain stable.  Deposit levels and loan demand
are affected by national, as well as local, interest rates, the
attractiveness of alternative investments 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, 2004.

                                          Amount        Percent of
                                      (In Thousands)      Assets
                                      --------------    ----------

Actual Tangible Capital                  $17,920          7.17%
Required Tangible Capital                  3,749          1.50%
                                         -------         -----
Excess Tangible Capital                  $14,171          5.67%


<PAGE>  8


Actual Core Capital                      $17,920          7.17%
Required Core Capital (1)                  9,998          4.00%
                                         -------         -----
Excess Core Capital                      $ 7,922          3.17%

Actual Risk Based Capital                $19,228         10.18%
Required Risk Based Capital               15,159          8.00%
                                         -------         -----
Excess Risk Based Capital                $ 4,069          2.18%

___________________
(1)   Although the general required minimum core capital is 4.00%, savings
      associations that meet certain requirements may be permitted to
      maintain minimum core capital of 3.00%.

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.

Comparison of Operating Results for the Three-and
-------------------------------------------------
 Six-Month Periods Ended March 31, 2004, and 2003
-------------------------------------------------

Net Interest Income
-------------------

Net interest income before provision for loan losses increased $56,000 for
the comparative three-month periods and $35,000 for the comparative six-
month periods.  Total interest income decreased $91,000 for the three-month
period and $395,000 for the six-month period ended March 31, 2004, compared
to the same period in 2003, but was partially offset by a decrease of
interest expense of $148,000 and $430,000 for the same period.  Total
interest income decreased primarily due to a decrease in the interest rate
on loans receivable.  Total interest expense decreased due to the reduction
in interest rates paid on deposits and due to the shift in savings to lower
yielding accounts from certificates since March 31, 2003.

The majority of the loans in the Savings Bank's portfolio are adjustable-
rate mortgage loans whose interest rates fluctuate with market interest
rates.  With the recent lowering of rates, many loan customers have chosen
fixed-rate loans over adjustable-rate loans.  This has resulted in selling
more loans in the secondary market versus keeping the loans in the Savings
Bank's portfolio.  If interest rates remain relatively stable or decrease
during fiscal year 2004, the adjustable-rate mortgage loan portfolio will
reprice at lower rates, due to the rapid decrease in interest rates, while
rising interest rates could result in upward adjustments to the interest
rates on those loans.  No assurance can be provided with respect to which
direction interest rates will move.  Interest rates are affected by
general, local and national economic conditions, the policies of various
regulatory authorities and other factors beyond the control of the Savings
Bank.

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

Total nonaccrual loans and accruing loans that are 90 days past due were
$776,000 at March 31, 2004, which represents .35% of total loans.  This was
an increase of $232,000 from March 31, 2003 due to auto loans.

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 $1,619,000 at March 31, 2004, compared to
$1,526,000 at March 31, 2003.  During the six-month periods ended March 31,
2004, and March 31, 2003, the Savings Bank recorded recoveries of $61,107
and $113,139 and charge-offs of $244,603 and $344,783 respectively.  The
provisions for loan losses during the six-month periods ended March 31,
2004, and 2003, were $293,496 and $69,371 respectively.

Noninterest Income and Expense
------------------------------
The federal income tax provision increased $17,725 for the three-month
period and decreased $8,676 for the six-month period ended March 31, 2004,
compared to the same period in 2003 due to a corresponding adjustment in
pre-tax net income for the period.

Total noninterest income increased $110,000 for the three-month period and
$318,000 for the six-month period ended March 31, 2004, compared to the
same period in 2003.  There was an increase in the gain on the sale of
loans of $88,000 for the three-month period and $234,000 for the six-month
period ended March 31, 2004, primarily due to the recording of the reversal
of impairment of mortgage servicing rights on loans that were sold in the
secondary market.  Service charges on deposit accounts increased $8,000 and
$33,000 for the three- and six-month periods ended March 31, 2004.  Other
fee income increased $14,000 and $51,000 for the three- and six-month
periods ended March 31, 2004.


<PAGE>  9


Total noninterest expenses increased $40,000 for the quarter ended March
31, 2004, and $155,000 for the six months ended March 31, 2004 compared to
the same period in 2003.  Salaries and benefits increased $18,000 and
$59,000 as a result of normal pay increases in the three-and six-month
period ended March 2004 compared to the three-and six-month period ended
March 31, 2003.  Other operating expenses increased $13,000 and $27,000 for
the three- and six-month periods ended March 31, 2004, due to increased
operating costs and professional fees.  Occupancy expenses increased $8,000
and $42,000 mainly due to the remodeling of a branch office in the three-
and six-month period ended March 2004 compared to the same period last
year.  Advertising increased $4,400 and $18,500 for the three- and six-
month periods ended March 31, 2004 due to an emphasis on a new free
checking product.

Off-Balance Sheet Arrangement
-----------------------------

Bancorp had no off-balance sheet arrangements as of March 31, 2004 that
have or are reasonably likely to have a current or future effect on
Bancorp's financial condition, changes in financial condition, revenue or
expenses, results of operations, liquidity, capital expenditures or capital
resources that is material to investors.

Critical Accounting Policies
----------------------------

The accounting and reporting policies of Bancorp are in accordance with
accounting principles generally accepted in the United States and conform
to general practices within the banking industry.  Bancorp's significant
accounting policies are described in detail in the notes to Bancorp's
consolidated financial statements for the year ended September 30, 2003.
The preparation of financial statements in conformity with generally
accepted accounting principles requires management to make estimates and
assumptions.  The financial position and results of operations can be
affected by these estimates and assumptions and are integral to the
understanding of reported results.  Critical accounting policies are those
policies that management believes are the most important to the portrayal
of Bancorp's financial condition and results, and they require management
to make estimates that are difficult, subjective, or complex.

Allowance for Loan Losses
-------------------------

The allowance for loan losses provides coverage for probable losses
inherent in First Federal's loan portfolio.  Management evaluates the
adequacy of the allowance for loan losses each quarter based on changes, if
any, in underwriting activities, the loan portfolio composition (including
product mix and geographic, industry or customer-specific concentrations),
trends in loan performance, regulatory guidance and economic factors.  This
evaluation is inherently subjective, as it requires the use of significant
management estimates.  Many factors can affect management's estimates of
specific and expected losses, including volatility of default
probabilities, rating migrations, loss severity and economic and political
conditions.  The allowance is increased through provisions charged to
operating earnings and reduced by net charge-offs.

First Federal determines the amount of the allowance based on relative risk
characteristics of the loan portfolio.  The allowance recorded for
commercial loans is based on reviews of individual credit relationships and
an analysis of the migration of commercial loans and actual loss
experience.  The allowance recorded for homogeneous consumer loans is based
on an analysis of loan mix, risk characteristics of the portfolio, fraud
loss and bankruptcy experiences, and historical losses, adjusted for
current trends, for each homogeneous category or group of loans.  The
allowance for loan losses relating to impaired loans is based on the loan's
observable market price, the collateral for certain collateral-dependent
loans, or the discounted cash flows using the loan's effective interest
rate.

Regardless of the extent of First Federal's analysis of customer
performance, portfolio trends or risk management processes, certain
inherent but undetected losses are probable within the loan portfolio.
This is due to several factors including inherent delays in obtaining
information regarding a customer's financial condition or changes in their
unique business conditions, the judgmental nature of individual loan
evaluations, collateral assessments and the interpretation of economic
trends.  Volatility of economic or customer-specific conditions affecting
the identification and estimation of losses for larger non-homogeneous
credits and the sensitivity of assumptions utilized to establish allowances
for homogenous groups of loans are among other factors.  First Federal
estimates a range of inherent losses related to the existence of these
exposures.  The estimates are based upon First Federal's evaluation of
imprecision risk associated with the commercial and consumer allowance
levels and the estimated impact of the current economic environment.

Mortgage Servicing Rights

Mortgage servicing rights ("MSRs") associated with loans originated and
sold, where servicing is retained, are capitalized and included in other
intangible assets in the consolidated balance sheet.  The value of the
capitalized servicing rights represents the present value of the future
servicing fees arising from the right to service loans in the portfolio.
Critical accounting policies for MSRs relate to the initial valuation and
subsequent impairment tests.  The methodology used to determine the
valuation of MSRs requires the development and use of a number of
estimates,


<PAGE>  10


including anticipated principal amortization and prepayments of that
principal balance.  Events that may significantly affect the estimates used
are changes in interest rates, mortgage loan prepayment speeds and the
payment performance of the underlying loans.  The carrying value of the
MSRs is periodically reviewed for impairment based on a determination of
fair value.  For purposes of measuring impairment, the servicing rights are
compared to a valuation prepared based on a discounted cash flow
methodology, utilizing current prepayment speeds and discount rates.
Impairment, if any, is recognized through a valuation allowance and is
recorded as amortization of intangible assets.

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

There were no additional disclosures since the 10-KSB dated September 30,
2003.

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.

ITEM 3.  CONTROLS AND PROCEDURES.

The registrant's principal executive officer and principal financial
officer have concluded, based upon their evaluation of the registrant's
disclosure controls and procedures, that the registrant's disclosure
controls and procedures were effective as of March 31, 2004.  There was no
change in the registrant's internal control over financial reporting during
the quarter ended March 31, 2004, that has materially affected, or is
reasonably likely to materially affect, the registrant's internal control
over financial reporting.


<PAGE>  11


                                   PART II

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

ITEM 1.  LEGAL PROCEEDINGS
         -----------------

         Not applicable

ITEM 2.  CHANGES IN SECURITIES AND SMALL BUSINESS ISSUER PURCHASES OF
         ------------------------------------------------------------
         EQUITY SHARES
         -------------

         Not applicable

ITEM 3.  DEFAULTS UPON SENIOR SECURITIES
         -------------------------------

         Not applicable

ITEM 4.  SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS
         ---------------------------------------------------

         The annual meeting of shareholders was held on February 18, 2004.
         The following Directors were elected to terms expiring in 2006.

         NAME                          FOR        WITHHELD
         ----                          ---        --------

         John C. Matesich, III      2,555,478     537,905
         Don R. Parkhill            2,555,478     537,905
         J. William Plummer         2,555,478     537,905

         Those directors continuing their term were Ward D. Coffman III,
         Robert D. Goodrich, II, Patrick L. Hennessey, and Connie Ayres
         LaPlante.

         Two other matters were presented to the shareholders.

         1.    To ratify the selection of BKD LLP as the Auditors of
               Bancorp for the current fiscal year:

               For           3,065,207      Against               10,576
               Abstentions      17,600      Broker Non-Votes           0

         2.    To take certain action to evaluate a possible sale or merger
               of Bancorp:

               For             755,497      Against            1,642,701
               Abstentions      33,855      Broker Non-Votes     661,330

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
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  Amendment to the Articles
                      of Incorporation of First
                      Federal Bancorp, Inc.  The Amendment to the Articles
of Incorporation of Bancorp, filed as Exhibit 4a(1) to the 1994 S-8, is
incorporated herein by reference.


<PAGE>  12


         Exhibit 3.3  Amended and Restated Code
                      of Regulations of First
                      Federal Bancorp, Inc.  The Code of Regulations of
Bancorp filed as Exhibit A to Bancorp's Definitive Proxy Statement, filed
with the SEC on January 7, 2003, is incorporated herein by reference.

         Exhibit 31.1 Rule 13a-14(a)/15b Certification
         Exhibit 31.2 Rule 13a-14(a)/15b Certification
         Exhibit 32.1 Certification Pursuant to18 U.S.C. Section 1350 -
                      President and Chief Executive Officer
         Exhibit 32.2 Certification Pursuant to 18 U.S.C. Section 1350 -
                      Chief Financial Officer
         Exhibit 99.1 Safe Harbor Under the Private Securities Litigation
                      Reform Act of 1995

Form 8-K was filed on January 26, 2004 relating to a press release on
January 26, 2004.


                                 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 13, 2004                    By: /s/ J. William Plummer
                                           --------------------------------
                                           J. William Plummer
                                           President


Date:  May 13, 2004                    By: /s/ Connie Ayres LaPlante
                                           --------------------------------
                                           Connie Ayres LaPlante
                                           Chief Financial Officer


<PAGE>  13