-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, QELKXX4KxMHtU3ssHOATwQ5JAImhOO/wjJJcxZCD7wWyODDip8buK6L++D03CVOI cPPFQeD2GrXdZNCmKYpAtg== 0000914317-05-003240.txt : 20051025 0000914317-05-003240.hdr.sgml : 20051025 20051025093845 ACCESSION NUMBER: 0000914317-05-003240 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20051024 ITEM INFORMATION: Results of Operations and Financial Condition ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20051025 DATE AS OF CHANGE: 20051025 FILER: COMPANY DATA: COMPANY CONFORMED NAME: FFD FINANCIAL CORP/OH CENTRAL INDEX KEY: 0001006177 STANDARD INDUSTRIAL CLASSIFICATION: SAVINGS INSTITUTION, FEDERALLY CHARTERED [6035] IRS NUMBER: 341921148 STATE OF INCORPORATION: OH FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-27916 FILM NUMBER: 051153330 BUSINESS ADDRESS: STREET 1: 321 NORTH WOOSTER STREET CITY: DOVER STATE: OH ZIP: 44622 BUSINESS PHONE: 3303647777 MAIL ADDRESS: STREET 1: 321 NORTH WOOSTER AVE STREET 2: P.O. BOX 38 CITY: DOVER STATE: OH ZIP: 44622 FORMER COMPANY: FORMER CONFORMED NAME: FIRSTFED FINANCIAL CORP /OH/ DATE OF NAME CHANGE: 19960123 8-K 1 form8k-71602_ffd.txt UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): October 24, 2005 ---------------- FFD Financial Corporation ------------------------------------------------------ (Exact name of registrant as specified in its charter) Ohio 0-27916 34-1921148 - -------------------------------------------------------------------------------- (State or other jurisdiction of (Commission (IRS Employer incorporation) File Number) Identification No.) 321 North Wooster Avenue, Dover, Ohio 44622 --------------------------------------------------- (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code: (330) 364-7777 --------------- ------------------------------------------------------------- (Former name or former address, if changed since last report) Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below): [_] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) [_] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) [_] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) [_] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) Section 2 - Financial Information Item 2.02 Results of Operations and Financial Condition. - --------------------------------------------------------- On October 24, 2005, FFD Financial Corporation issued a press release regarding its earnings for the quarter ended September 30, 2005. The press release is attached as Exhibit 99 hereto and is incorporated herein by reference. Section 9 - Financial Statements and Exhibits Item 9.01 Financial Statements and Exhibits. - ---------------------------------------------- (a) and (b). Not applicable. (c) Exhibits. See Index to Exhibits. 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 hereunto duly authorized. FFD FINANCIAL CORPORATION By: /s/ Trent B. Troyer ------------------------------------- Trent B. Troyer President and Chief Executive Officer Date: October 24, 2005 INDEX TO EXHIBITS ----------------- Exhibit Number Description - -------------- ----------- 99 Press Release of FFD Financial Corporation dated October 24, 2005 EX-99 2 ex99.txt EXHIBIT 99 ---------- October 24, 2005 FOR IMMEDIATE RELEASE: CONTACT: Trent B. Troyer, President FFD Financial Corporation 321 North Wooster Avenue Dover, Ohio 44622-0038 (330) 364-7777 FFD Financial Corporation Reports Net Earnings For The Three Months Ended September 30, 2005 DOVER, OHIO - FFD Financial Corporation, parent company of First Federal Community Bank of Dover, Ohio, reported net earnings for the three months ended September 30, 2005, of $308,000, or diluted earnings per share of $.26, compared to the $204,000, or $.17 per diluted share, of net earnings reported for the comparable three-month period in 2004. The $104,000, or 51.0%, increase in net earnings resulted from increases of $297,000, or 28.8%, in net interest income, and $27,000, or 16.5%, in other income, which were partially offset by increases of $136,000, or 15.3%, in general, administrative and other expenses, $54,000, or 51.4%, in the provision for federal income taxes, and $30,000 in the provision for losses on loans. The increase in net interest income was due to an increase in average loans outstanding and an increase in the lending rates during the period which was partially offset by a gradual increase in the cost of new and re-pricing deposits during the period. The increase in general, administrative and other expense was due primarily to increases in other operating expenses and data processing expenses. Other operating expenses increased as a result of the withdrawal from the going private transaction on September 15, 2005, advertising expense and other pro-rata increases. FFD Financial Corporation reported total assets at September 30, 2005 of $155.3 million, total liabilities of $137.7 million, including deposits of $112.2 million, and shareholders' equity of $17.6 million. FFD Financial Corporation is traded on the NASDAQ SmallCap Market under the symbol FFDF. First Federal Community Bank has full service offices in downtown Dover, downtown New Philadelphia and on the Boulevard in Dover, and has loan production offices in Coshocton and Sugarcreek. The Corporation maintains an interactive web site at www.onlinefirstfed.com. FFD Financial Corporation CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION (In thousands) September 30, June 30, ASSETS 2005 2005 (unaudited) Cash and cash equivalents $ 9,647 $ 7,785 Investment securities 3,461 3,485 Mortgage-backed securities 692 720 Loans receivable 136,517 131,493 Other assets 4,959 5,112 ---------- ---------- Total assets $ 155,276 $ 148,595 ========== ========== LIABILITIES AND SHAREHOLDERS' EQUITY Deposits $ 112,234 $ 111,495 Borrowings 23,786 17,880 Other liabilities 1,656 1,782 ---------- ---------- Total liabilities 137,676 131,157 Shareholders' equity 17,600 17,438 ---------- ---------- Total liabilities and shareholders' equity $ 155,276 $ 148,595 ========== ========== FFD Financial Corporation CONDENSED CONSOLIDATED STATEMENTS OF EARNINGS (In thousands, except share data) Three months ended September 30, 2005 2004 Total interest income $ 2,163 $ 1,612 Total interest expense 834 580 -------- -------- Net interest income 1,329 1,032 Provision for losses on loans 30 0 -------- -------- Net interest income after provision for losses on loans 1,299 1,032 Other income 191 164 General, administrative and other expense 1,023 887 -------- -------- Earnings before income taxes 467 309 Federal income taxes 159 105 -------- -------- NET EARNINGS $ 308 $ 204 ======== ======== EARNINGS PER SHARE Basic $ .26 $ .18 ======== ======== Diluted $ .26 $ .17 ======== ======== -----END PRIVACY-ENHANCED MESSAGE-----