8-K

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): April 30, 2009

                    FFD Financial Corporation                     

(Exact name of registrant as specified in its charter)

Ohio	0-27916	34-1821148
(State or other jurisdiction of incorporation)	(Commission File Number)	(IRS Employer 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 April 30, 2009, FFD Financial Corporation issued a press release regarding its earnings for the quarter ended March 31, 2009.  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) – (c).

Not applicable.

(d).

Exhibits.

Exhibit Number	Description
99	Press Release of FFD Financial Corporation dated April 30, 2009

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/ Robert R. Gerber

Robert R. Gerber

Senior Vice President, Chief Financial Officer

and Treasurer

Date:  May 1, 2009

EX-99

FFD Financial Corporation

EXHIBIT 99

Date: April 30, 2009

FOR IMMEDIATE RELEASE:

CONTACT:

Trent B. Troyer, President & CEO

330-364-7777 or trent@onlinefirstfed.com

FFD Financial Corporation Reports Net Earnings For The Three- and
Nine-Month Periods Ended March 31, 2009

DOVER, OHIO - FFD FINANCIAL CORPORATION (NASDAQ:FFDF), parent company of First Federal Community Bank of Dover, Ohio, reported net earnings for the three months ended March 31, 2009, of $122,000, or diluted earnings per share of $.12, compared to the $159,000, or $.15 per diluted share, of net earnings reported for the comparable three-month period in 2008.  The $37,000, or 23.3%, decrease in net earnings resulted from decreases of $147,000, or 8.9% in net interest income, and $50,000, or 32.1%, in other income, and an increase of $101,000, or 8.8%, in general, administrative and other expenses, which were partially offset by decreases of $241,000, or 59.1%, in the provision for losses on loans and $20,000, or 24.1%, in the provision for federal income taxes.

Net earnings for the nine months ended March 31, 2009, were $735,000, or diluted earnings per share of $.70, compared to the $929,000, or $.85 per diluted share, of net earnings reported for the comparable nine-month period in 2008.  The $194,000, or 20.9%, decrease in net earnings resulted from decreases of $233,000, or 4.7% in net interest income, and $24,000, or 5.2%, in other income, and an increase of $261,000, or 7.6%, in general, administrative and other expenses, which were partially offset by decreases of $236,000, or 38.9%, in the provision for losses on loans and $88,000, or 18.2%, in the provision for federal income taxes.

The increase in general, administrative and other expense was due primarily to increases in employee compensation and benefits, professional and consulting fees, FDIC insurance premiums due to an increase in assessment rates and other expenses as a result of growth in the Corporation’s operations year over year.  The increase in employee compensation and benefits was the result of growth in the number of employees year over year and slight increases in wage rates, offset by a decrease in bonus compensation.  The decrease in net interest income was primarily due to decreases in yields on interest earning assets declining at a faster rate than costs of new and repricing deposits and the cost of carrying excess liquidity.  Borrowing balances decreased over the current nine month period, however, borrowing costs increased period to period due to an increase in the average balance outstanding which was partially offset by a decrease in the average cost of borrowings. &nbs p;The average balance increased period to period due to Federal Home Loan Bank advances to help finance increased loan production and a draw on a credit line used to repurchase a large block of our shares.  The $24,000 decrease in other income resulted from a $213,000 decrease in mortgage servicing revenue net of amortization and an impairment expense of $175,000 related to mortgage servicing rights,

FFD Financial Corporation

which were partially offset by a $223,000 increase in gain on sale of loans due to a strengthening in the residential refinance mortgage market.  The impairment expense on mortgage servicing rights is a function of lower interest rates, increased prepayment speed assumptions, and refinancing of mortgage loans.  The decrease in the provision for losses on loans was due to management’s assessment of current economic conditions applied to the portfolio. Non-performing assets increased slightly to .56% of assets compared to 0.54% at June 30, 2008, but net charge-offs for the first nine months were $162,271 for an annualized rate of 0.12% down from the 0.17% charge-off ratio for the fiscal year ended June 30, 2008.  The allowance for loan losses to total loans ratio improved to 1.02%, up from 0.94% at June 30, 2008.

FFD Financial Corporation reported total assets of $188.4 million at March 31, 2009, an increase of 3.7% over the June 30, 2008 balance of $181.7 million.  Cash and cash equivalents increased by 10.7% from the June 30, 2008 balance of $13.0 million to $14.4 million at March 31, 2009.  Loans receivable, net increased by 2.3% from the June 30, 2008, balance of $156.2 million to $159.9 million at March 31, 2009.  Total liabilities increased by 4.3% from the June 30, 2008, balance of $163.6 million to $170.6 million at March 31, 2009, and included deposits of $151.8 million, representing an increase of 7.4% over the June 30, 2008, deposit balance of $141.3 million.  Shareholders’ equity amounted to $17.8 million at March 31, 2009, a decrease from the $18.2 million total at June 30, 2008.  The decrease in shareholders’ equity was primarily attributable to the repurchase of 65,833 shares of the corporation’s common stock and payments of quarterly divide nds, which were partially offset by net earnings of $735,000, a positive mark to market of investments available for sale and proceeds from the exercise of stock options.

FFD Financial Corporation is traded on the NASDAQ Capital Market under the symbol FFDF.  First Federal Community Bank has full service offices in downtown Dover, downtown New Philadelphia, on the Boulevard in Dover and in Sugarcreek.  The Corporation maintains an interactive web site at www.onlinefirstfed.com

FFD Financial Corporation

FFD Financial Corporation

CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION

(In thousands)

ASSETS	March 31, 2009	June 30, 2008
	(unaudited)
Cash and cash equivalents	$  14,443	$  13,049
Investment securities	6,751	5,623
Mortgage-backed securities	298	323
Loans receivable, net	159,801	156,232
Loans held for sale	400	-
Real Estate Owned	163	-
Other assets	6,543	6,511
Total assets	$188,399	$181,738
LIABILITIES AND SHAREHOLDERS’ EQUITY
Deposits	$151,798	$141,332
Borrowings	17,258	20,595
Other liabilities	1,519	1,631
Total liabilities	170,575	163,558
Shareholders’ equity	17,824	18,180
Total liabilities and shareholders’ equity	$188,399	$181,738

FFD Financial Corporation

CONDENSED CONSOLIDATED STATEMENTS OF EARNINGS

(In thousands, except share data)

	Nine months ended March 31,		Three months ended March 31,
	2009	2008	2009	2008
	(unaudited)		(unaudited)
Total interest income	$7,921	$8,980	$2,543	$2,906
Total interest expense	3,163	3,989	1,047	1,263
Net interest income	4,758	4,991	1,496	1,643
Provision for losses on loans	371	607	167	408
Net interest income after provision  for losses on loans	4,387	4,384	1,329	1,235
Other income	438	462	106	156
General, administrative and other expense	3,695	3,434	1,250	1,149
Earnings before income taxes	1,130	1,412	185	242
Federal income taxes	395	483	63	83
NET EARNINGS	$   735	$   929	$   122	$   159
EARNINGS PER SHARE
Basic	$.71	$.86	$.13	$.15
Diluted	$.70	$.85	$.12	$.15