FORM 10-QSB

                     Securities and Exchange Commission
                           Washington, D.C.  20549

                                 (Mark One)

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

      For the quarterly period ended March 31, 1998


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

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


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

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

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

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

Check whether the issuer (1) filed all reports required to be filed by 
Section 13 or 15(d) of the Exchange Act during the past 12 months (or for 
such shorter period that the registrant was required to file such reports), 
and (2) has been subject to such filing requirements for the past 90 days.

                 Yes   [X]                     No   [ ]

As of April 30, 1998, the latest practicable date, 1,575,116 shares of the 
registrant's common stock, no par value, were issued and outstanding.


                         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                                          13

          SIGNATURES                                                 15


                                   PART I

                            FINANCIAL INFORMATION

                         First Federal Bancorp, Inc.

               CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION


<TABLE>
<CAPTION>
                                                          At March 31       At September 30
                                                          1998              1997
                                                          -----------       ---------------

<S>                                                       <C>               <C>
ASSETS
Cash and amounts due from depository institutions         $  7,875,326      $  7,237,127
Overnight deposits                                           2,725,000         1,600,000
                                                          ------------      ------------
      Cash and cash equivalents                           $ 10,600,326      $  8,837,127
Investment securities held to maturity 
 (Fair value - $7,252,000 in 3/98 and
 $7,504,000 in 9/97)                                         7,251,892         7,503,561
Mortgage-backed securities held to maturity 
 (Fair value - $1,372,000 in 3/98 and $1,477,000 
 in 9/97)                                                    1,360,310         1,437,681
Loans receivable, net                                      179,991,450       174,026,629
Premises and equipment, net                                  7,451,016         7,501,696
Accrued interest receivable and other assets                 4,989,117         4,396,375
                                                          ------------      ------------
      Total Assets                                        $211,644,111      $203,703,069
                                                          ============      ============

LIABILITIES AND STOCKHOLDERS' EQUITY
Liabilities
  Deposits                                                $133,909,488      $126,634,570
  Borrowed funds                                            60,365,000        59,805,000
  Advances from borrowers for taxes and insurance              376,266           376,276
  Accrued expenses and other liabilities                       870,569         1,261,362
                                                          ------------      ------------
      Total Liabilities                                   $195,521,323      $188,077,208
                                                          ------------      ------------

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, 1,651,700 shares issued                    $  3,656,323      $  3,656,323
  Retained earnings                                         12,958,547        12,461,620
  Treasury shares, 76,584 shares                              (492,082)         (492,082)
                                                          ------------      ------------
      Total Stockholders' Equity                          $ 16,122,788      $ 15,625,861
                                                          ------------      ------------

      Total Liabilities and Stockholders' Equity          $211,644,111      $203,703,069
                                                          ============      ============
</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
                                                      --------------------------      --------------------------
                                                         1998            1997            1998            1997
                                                         ----            ----            ----            ----

<S>                                                   <C>             <C>             <C>             <C>
INTEREST INCOME 
  Interest and fees on loans                          $3,828,236      $3,443,385      $7,623,805      $6,876,189
  Interest on mortgage-backed securities                  36,671          28,773          62,696          58,972
  Interest on investment securities                      103,975          56,728         202,662         120,670
  Interest on other interest earning investments          23,405          42,578          56,496          85,120
                                                      ----------      ----------      ----------      ----------
      Total Interest Income                            3,992,287       3,571,464       7,945,659       7,140,951
                                                      ----------      ----------      ----------      ----------
INTEREST EXPENSE
  Interest on deposits                                 1,315,182       1,244,427       2,650,422       2,541,963
  Interest on borrowed money                             974,875         683,289       1,920,213       1,283,173
                                                      ----------      ----------      ----------      ----------
      Total Interest Expense                           2,290,057       1,927,716       4,570,635       3,825,136
                                                      ----------      ----------      ----------      ----------
      Net Interest Income                              1,702,230       1,643,748       3,375,024       3,315,815
                                                      ----------      ----------      ----------      ----------
      Provision for Loan Losses                          179,102          12,427         408,058         160,090
      Net Interest Income After Provision 
       for Loan Losses                                 1,523,128       1,631,321       2,966,966       3,155,725
                                                      ----------      ----------      ----------      ----------
NONINTEREST INCOME 
  Service charges on deposit accounts                     76,095          74,787         157,886         150,635
  Gain on sale of loans                                   38,772           9,552          63,234          24,912
  Dividends on FHLB stock                                 59,719          41,673         116,109          79,297
  Other operating income                                 121,797         100,604         237,332         203,736
                                                      ----------      ----------      ----------      ----------
      Total Noninterest Income                           296,383         226,616         574,561         458,580
                                                      ----------      ----------      ----------      ----------
NONINTEREST EXPENSE            
  Salaries and employee benefits                         574,239         553,533       1,026,968       1,010,625
  Occupancy and equipment expense                        211,060         175,872         407,062         348,548
  Deposit insurance expense                               34,825          18,253          69,112         105,855
  Data processing expense                                126,271          88,516         209,541         167,608
  Advertising                                             55,182          66,671         119,167         124,285
  Ohio franchise taxes                                    55,294          49,209         104,152          94,147
  Other operating expenses                               241,955         250,700         520,770         475,161
                                                      ----------      ----------      ----------      ----------
      Total Noninterest Expenses                       1,298,826       1,202,754       2,456,772       2,326,229
                                                      ----------      ----------      ----------      ----------
      Income Before Income Taxes                         520,685         655,183       1,084,755       1,288,076
                                                      ----------      ----------      ----------      ----------
      Provision for Income Taxes                         175,797         219,413         367,313         428,348
                                                      ----------      ----------      ----------      ----------
      Net Income                                      $  344,888      $  435,770      $  717,442      $  859,728
                                                      ==========      ==========      ==========      ==========
EARNINGS PER SHARE
      Basic                                           $      .22      $      .28      $      .46      $      .55
                                                      ----------      ----------      ----------      ----------
      Diluted                                         $      .20      $      .25      $      .41      $      .49
                                                      ----------      ----------      ----------      ----------
WEIGHTED AVERAGE COMMON AND
 COMMON EQUIVALENT SHARES
      Basic                                            1,575,116       1,571,716       1,575,116       1,571,716
                                                      ----------      ----------      ----------      ----------
      Diluted                                          1,753,435       1,726,654       1,745,518       1,751,309
                                                      ----------      ----------      ----------      ----------
 
DIVIDENDS DECLARED PER SHARE                          $      .07      $      .06      $      .14      $      .12
                                                      ----------      ----------      ----------      ----------
</TABLE>


                         First Federal Bancorp, Inc.

                    CONSOLIDATED STATEMENTS OF CASH FLOWS
                                 (UNAUDITED)

<TABLE>
<CAPTION>
                                                           Six Months Ended
                                                               March 31
                                                      ---------------------------
                                                         1998            1997
                                                         ----            ----

<S>                                                   <C>             <C>
CASH FLOWS FROM OPERATING ACTIVITIES:
  Net Income                                          $   717,442     $   859,728 
 
  Adjustments to reconcile net income to net cash 
   provided by operating activities: 

    Provision for loan losses                             408,058         160,090
    Depreciation                                          263,456         210,096
    Federal Home Loan Bank stock dividends               (116,000)        (79,200)
    Amortization of net premiums (discounts) on 
     investment securities                                (12,648)        (39,808)
    Mortgage loans originated for sale                 (4,937,781)     (2,271,476)
    Proceeds from sale of mortgage loans                5,012,256       2,272,142
    Change in other assets and other liabilities         (616,436)       (425,928)
                                                      -----------     -----------
 
    Net Cash Provided by Operating Activities             718,347         685,644
                                                      -----------     -----------

CASH FLOWS FROM INVESTING ACTIVITIES: 
  Proceeds from maturities of investment securities     4,260,714       3,255,074
  Purchases of investment securities/FHLB stock        (4,247,497)     (3,672,681)
  Loans originated, net of principal repayments        (6,591,392)     (5,819,385)
  Principal collected on mortgage-backed securities        77,370         118,764
  Sale of real estate owned                               128,290          83,228
  Purchases of premises and equipment                    (212,776)       (986,579)
                                                      -----------     -----------

      Net Cash Used for Investing Activities           (6,585,291)     (7,021,579)
                                                      -----------     -----------

CASH FLOWS FROM FINANCING ACTIVITIES:      
  Net change in deposit accounts                        7,274,918      (1,552,009)
  Net change in advance payments by borrowers 
   for taxes and insurance                                    (10)       (166,836)
  Net change in borrowed funds with original 
   maturities of less than three months                   560,000       8,720,000
  Dividends paid                                         (204,765)       (180,659)
  Proceeds from exercise of options                             0           9,300
                                                      -----------     -----------

      Net Cash Provided by Financing Activities         7,630,143       6,829,796
                                                      -----------     -----------

NET CHANGE IN CASH AND CASH EQUIVALENTS                 1,763,199         493,861

CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD        8,837,127       8,161,988
                                                      -----------     -----------

CASH AND CASH EQUIVALENTS AT END OF PERIOD            $10,600,326     $ 8,655,849
                                                      ===========     ===========
</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, 1998, 
and September 30, 1997, and the results of its operations for the three and 
six months ended March 31, 1998, and 1997, and its cash flow for the six 
months ended March, 1998 and 1997.  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 $3,994,000 and $64,300 respectively, at March 31, 1998, and 
$591,000 and $139,000 respectively at September 30, 1997.

3.  Earnings and Dividends Per Common Share

Basic and diluted earnings per share are computed under a new accounting 
standard effective in the quarter ended December 31, 1997.  All prior 
amounts have been restated to be comparable.  Basic earnings per share is 
based on net income (less preferred dividends) divided by the weighted 
average number of shares outstanding during the period.  Diluted earnings 
per share shows the dilutive effect of additional common shares issuable 
under stock options (and convertible securities).  On November 6, 1996, the 
Board of Directors declared a two-for-one stock split in the form of a 100% 
stock dividend.  All earnings and dividends per share disclosures have been 
restated to reflect this stock split.

4.  Allowance for Losses on Loans

Because some loans may not be repaid in full, an allowance for loan losses 
is recorded.  Increases to the allowance are recorded by a provision for 
loan losses charged to expense.  Estimating the risk of loss and the amount 
of loss on any loan is necessarily subjective.  Accordingly, the allowance 
is maintained by management at a level considered adequate to cover 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.

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 quarters ended March 31, 1998, and September 30, 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 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 modestly during fiscal year 
    1998, and plans to become more aggressive in promoting deposit products;

3.  Management's anticipation that adjustable-rate loans will reprice higher 
    in fiscal year 1998 if interest rates remain relatively stable;

4.  Legislative changes with respect to the federal thrift charter; and

5.  Management's expectation that the amount of its consumer loans will 
    increase.

Changes in Financial Condition from September 30, 1997, to March 31, 1998

Total consolidated assets of Bancorp increased by $7.9 million, or 3.90%, 
from $203.7 million at September 30, 1997, to $211.6 million at March 31, 
1998.  The increase is due primarily to an increase in loans receivable of 
$6.0 million, and a $1.8 million increase in cash and cash equivalents.

Total liquidity (consisting of cash and amounts due from depository 
institutions, interest-bearing deposits in other banks, and investment 
securities) was $17.9 million at March 31, 1998, which is an increase of 
$1.5 million from September 30, 1997.  The regulatory liquidity of the 
Savings Bank was 8.73% at March 31, 1998, and 7.53% at September 30, 1997, 
which was in excess of the minimum regulatory requirement of 4%.  Funds are 
available through FHLB advances to meet the Savings Bank's liquidity 
requirement if necessary.

The loans receivable balance increased $6.0 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, 1998, the Savings Bank had borrowed funds from the FHLB in 
the amount of $60.4 million at a weighted average rate of 6.26%.  FHLB 
advances increased $560,000, or .94%, from $59.8 million at September 30, 
1997.  Deposits increased by $7.3 million, or 5.74%, from $126.6 million at 
September 30, 1997, to $133.9 million at March 31, 1998. Management believes 
that the Savings Bank will experience a modest increase in deposits during 
the current fiscal year.  As the result of the decrease in the SAIF premium 
cost, the Savings Bank can afford to pay depositors a slightly higher rate 
while managing the cost of funds.  FHLB advances have increased in cost more 
than 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, 1998.

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

<S>                                          <C>                 <C>
Actual Tangible Capital                      $14,288              6.75%
Required Tangible Capital                      3,180              1.50%
                                             -------             -----
Excess Tangible Capital                      $11,108              5.25%

Actual Core Capital                          $14,288              6.75%
Required Core Capital                          6,360              3.00%
                                             -------             -----
Excess Core Capital                          $ 7,928              3.75%

Actual Risk Based Capital                    $15,726             11.27%
Required Risk Based Capital                   11,245              8.00%
                                             -------             -----
Excess Risk Based Capital                    $ 4,481              3.27%
</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.  

The recapitalization plan also provides that the cost of prior thrift 
failures will be shared by both the SAIF and the BIF, which increased BIF 
assessments for healthy banks to $.013 per $100 of deposits in 1997 and 
1998.  SAIF assessments for healthy savings associations in 1997 were, and 
remain in 1998, $.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 March 31, 1998, First Federal had approximately $1.0 
million in bad debt reserves subject to recapture for federal income tax 
purposes.  The deferred tax liability related to the recapture was 
established in prior years, so First Federal's net income will not be 
negatively affected by this legislation.

Year 2000 Considerations

As with all financial institutions, First Federal's operations depend almost 
entirely on computer systems.  First Federal is addressing the potential 
problems associated with the possibility that the computers that control or 
operate First Federal's operating systems, facilities and infrastructure may 
not be programmed to read four-digit date codes and, upon arrival of the 
year 2000, may recognize the two-digit code "00" as the year 1900, causing 
systems to fail to function or to generate erroneous data.  First Federal is 
working with the companies that supply or service its computer-operated or
-dependent systems to identify and remedy any year 2000 related problems.

As of the date of this Form 10-QSB, First Federal has not identified any 
specific expenses that are reasonably likely to be incurred by First Federal 
in connection with this issue and does not expect to incur significant 
expense to implement corrective measures.  No assurance can be given, 
however, that significant expense will not be incurred in future periods.  
In the event that First Federal is ultimately required to purchase 
replacement computer systems, programs and equipment, or that substantial 
expense must be incurred to make First Federal's current systems, programs 
and equipment year 2000 compliant, First Federal's net income and financial 
condition could be adversely affected.

In addition to possible expense related to its own systems, First Federal 
could incur losses if loan payments are delayed due to year 2000 problems 
affecting any of First Federal's primary market area.  Because First 
Federal's loan portfolio is highly diversified with regard to individual 
borrowers and types of businesses and First Federal's primary market area is 
not significantly dependent upon one employer or industry, First Federal 
does not expect any significant or prolonged difficulties that will affect 
net earnings or cash flow.

Comparison of Operating Results for the Three- and Six-Month
 Periods Ended March 31, 1998, and 1997

Net interest income before provision for loan losses increased $58,000 for 
the three-month comparative periods and $59,000 for the comparative six-
month periods.  Total interest income increased by $421,000 for the three-
month period and $805,000 for the six-month period ended March 31, 1998, 
compared to the same periods in 1997.  The increase is 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 $362,000 for the comparative three-month 
period and $746,000 for the comparative six-month period ended March 31, 
1998, as the result of increases in interest rates of savings deposits at 
First Federal and an increase in the amount of borrowings at the Federal 
Home Loan Bank.  It is anticipated that the adjustable-rate mortgage loan 
portfolio will reprice at slightly higher rates because most loans 
originated during fiscal year 1997 were not initially priced at the fully-
indexed interest rate and will be repricing upward at their first adjustment 
and because the balance of the adjustable-rate mortgage loan portfolio will 
not reprice substantially lower during 1998.  No assurance can be provided, 
however, that interest rates will remain stable.  Interest rates are 
affected by general local and national economic conditions, the policies of 
various regulatory authorities and other factors beyond the control of 
Bancorp.

Nonperforming and Delinquent Loans and Allowance for Loan Losses

Total nonaccrual loans and accruing loans that are 90 days past due were 
$478,000 at March 31, 1998, which represents .27% of total loans.  This was 
a decrease of $135,000 from March 31, 1997.

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 $2,148,000 at March 31, 1998, compared to $1,711,000 at March 31, 1997.  
During the six-month period ended March 31, 1998, the Savings Bank recorded 
charge-offs of $76,000 and no recoveries, compared to $60,000 in charge-offs 
and no recoveries during the same period in 1997.  The provisions for loan 
losses during the six-month periods ended March 31, 1998, and 1997, were 
$408,000 and $160,000 respectively.  The increase in loan loss provision is 
due to increased delinquencies.  Consumer loan delinquencies were $1,335,000 
at March 31, 1998, an increase of $625,000 from March 31, 1997, and a 
decrease of $177,000 from December 31, 1997. 

Noninterest Income and Expense

The federal income tax provision decreased $44,000 for the three-month 
period and $61,000 for the six-month period ended March 31, 1998, compared 
to the same periods in 1997 due to lower net income for the period.

Total noninterest income increased $70,000 for the three-month period and 
$116,000 for the six-month period ended March 31, 1998, compared to the same 
periods in 1997.  Dividends on FHLB stock increased $18,000 for the 
comparative three-month periods and $37,000 for the comparative six-month 
periods due to an increase in FHLB stock held.  Gain on sale of loans 
increased $29,000 for the comparative three-month periods and $38,000 for 
the comparative six-month periods.  Other income increased $21,000 for the 
comparative three-month periods and $34,000 for the comparative six-month 
periods due to increased collection of loan late charges and fees from the 
ATM and automatic transfer services.

Total noninterest expenses increased $96,000 for the three-month period and 
$131,000 for the six-month period ended March 31, 1998, compared to the same 
periods in 1997.  Salaries and benefits increased $21,000 for the three-
month comparative periods and $16,000 for the comparative six-month periods.  
The salaries and benefits increase is a result of a decrease of $12,000 in 
retirement plan accrual costs, partially offset by an increase in salaries 
of $20,000.  Salaries increased due to the increase in staff for the 
comparative three- and six-month periods.  The SAIF premium increased 
$17,000 for the comparative three-month periods due to increased deposits 
and decreased $37,000 for the comparative six-month periods due to the 
reduction in the SAIF premium that was reflected in the SAIF quarterly 
billing of January 1997.  Occupancy expense increased $35,000 for the three-
month period and $59,000 for the six-month period, compared to the same time 
period in 1997, due to the increased depreciation on the new Main Office 
building.  Other noninterest expenses decreased $9,000 for the comparative 
three-month period and increased $46,000 for the comparative six-month 
period due to several items, including a change in our area code to 740, 
which required all business cards and stationary having to be reordered, a 
Sales Tax assessment, a loss on checks of $25,000 due to a fraudulent act, 
one-time debit card start-up costs, and increased training and seminar 
costs.

Impact of Inflation and Changing Prices

The financial statements and related data presented herein have been 
prepared in accordance with generally accepted accounting principles 
("GAAP"), which require the measurement of financial position and results of 
operations in terms of historical dollars without considering changes in 
relative purchasing power of money over time because of inflation.
Unlike most industrial companies, virtually all of the assets and 
liabilities of First Federal are monetary in nature.  As a result, interest 
rates have a more significant impact on First Federal's performance than the 
effects of general levels of inflation.  Interest rates do not necessarily 
move in the same direction or in the same magnitude as the prices of goods 
and services.

Effect of Accounting Changes

SFAS No. 125, "Accounting for Transfers and Servicing of Financial Assets 
and Extinquishments of Liabilities," was issued by the FASB in 1996.  SFAS 
125 revises the accounting for transfers of financial assets, such as loans 
and securities, and for distinguishing between sales and secured borrowings.  
It was originally effective for some transactions in 1997 and others in 
1998.  SFAS No. 127, "Deferral of the Effective Date of Certain Provisions 
of FASB Statement No. 125" was issued in December 1996.  SFAS 127 defers, 
for one year, the effective date of provisions related to securities 
lending, repurchase agreements and other similar transactions.  The 
remaining portions of SFAS 125 continued to be effective January 1, 1997.  
SFAS 125 did not have a material impact on First Federal's financial 
statements.

In March 1997, the FASB issued SFAS No. 128, "Earnings Per Share" which was 
effective for financial statements for periods ending after December 15, 
1997, including interim periods.  SFAS 128 simplifies the calculation of 
earnings per share ("EPS") by replacing primary EPS with basic EPS.  It also 
requires dual presentation of basic EPS and diluted EPS for entities with 
complex capital structures.  Basic EPS includes no dilution and is computed 
by dividing income available to common shareholders by the weighted-average 
common shares outstanding for the period.  Diluted EPS reflects the 
potential dilution of securities that could share in earnings such as stock 
options, warrants or other common stock equivalents.  All prior period EPS 
data has been restated to conform with the new presentation; however, such 
restatement is not materially different from EPS data previously reported.

In February 1997, the FASB issued SFAS No. 129, "Disclosures of Information 
about Capital Structure."  SFAS 129 consolidated existing accounting 
guidance relating to disclosure about a company's capital structure.  Public 
companies generally have always been required to make disclosures now 
required by SFAS 129 and, therefore, SFAS 129 had no material impact on 
First Federal.  SFAS 129 was effective for financial statements for periods 
ending after December 15, 1997.

In June 1997, the FASB issued SFAS No. 130, "Reporting Comprehensive 
Income."  SFAS 130 establishes standards for reporting and display of 
comprehensive income and its components (revenues, expenses, gains and 
loses) in a full set of general-purpose financial statements.  SFAS 130 
requires that all items that are required to be recognized under accounting 
standards as components of comprehensive income be reported in a financial 
statement that is displayed with the same prominence as other financial 
statements.  It does not require a specific format for that financial 
statement but requires that an enterprise display an amount representing 
total comprehensive income for the period in that financial statement.

SFAS 130 requires that an enterprise (a) classify items of other 
comprehensive income by their nature in a financial statement and (b) 
display the accumulated balance of other comprehensive income separately 
from retained earnings and additional paid-in capital in the equity section 
of a statement of financial position.  SFAS 130 is effective for fiscal 
years beginning after December 15, 1997.  Reclassification of financial 
statements for earlier periods provided for comparative purposes is 
required.

In June 1997, the FASB issued SFAS No. 131, "Disclosures about Segments of 
an Enterprise and Related Information."  This Statement significantly 
changes the way that public business enterprises report information about 
operating segments in annual financial statements and requires that those 
enterprises report selected information about reportable segments in interim 
financial reports issued to shareholders.  It also establishes standards for 
related disclosures about products and services, geographic areas and major 
customers.  SFAS 131 uses a "management approach" to disclose financial and 
descriptive information about an enterprise's reportable operating segments 
which is based on reporting information the way management organizes the 
segments within the enterprise for making operating decisions and assessing 
performance.  For many enterprises, the management approach will likely 
result in more segments being reported.  In addition, the Statement requires 
significantly more information to be disclosed for each reportable segment 
than is presently being reported in annual financial statements.  The 
Statement also requires that selected information be reported in interim 
financial statements.  SFAS 131 is effective for financial statements for 
periods beginning after December 15, 1997.


                                   PART II

                              OTHER INFORMATION

ITEM 1.  LEGAL PROCEEDINGS

         Not applicable

ITEM 2.  CHANGES IN SECURITIES AND USE OF PROCEEDS

         Not applicable

ITEM 3.  DEFAULTS UPON SENIOR SECURITIES

         Not applicable

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

The annual meeting was held February 18, 1998.  The following directors were 
elected to terms expiring in 2000.

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

John C. Matesich, III                  1,213,380        74,796
Don R. Parkhill                        1,213,380        74,796
J. William Plummer                     1,213,380        74,796

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

One other matter was presented to the shareholders.

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

    For   1,284,076      Against   0      Abstentions   4,100

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 27.1  Financial Data Schedule for March 31, 1998
Exhibit 27.2  Restated Financial Data Schedule for September 30, 1996
Exhibit 27.3  Restated Financial Data Schedule for December 31, 1996
Exhibit 27.4  Restated Financial Data Schedule for March 31, 1997
Exhibit 27.5  Restated Financial Data Schedule for June 30, 1997
Exhibit 27.6  Restated Financial Data Schedule for September 30, 1997
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 15, 1998                    By: /s/ J. William Plummer
                                           J. William Plummer
                                           President


Date:  May 15, 1998                    By: /s/ Connie Ayres LaPlante
                                           Connie Ayres LaPlante
                                           Chief Financial Officer