SECURITIES AND EXCHANGE COMMISSION

                            WASHINGTON, D.C. 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)    June 30, 1997 

                            KEYSTONE FINANCIAL, INC.
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       (Exact name of registrant as specified in its charter)

       Pennsylvania                0-11460                   23-2289209
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State or other jurisdiction   (Commission File Number) (IRS Employer ID No.)
 of incorporation)

     One Keystone Plaza, P.O.Box 3660, Harrisburg,  Pennsylvania 17105-3660
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        (Address of principal executive offices)                  (ZIP CODE)

Registrant's telephone number including area code:      (717) 233-1555



Item 5.     Other Events

For the quarter ended June 30, 1997, consolidated total interest income was
$126,804,000, consolidated total noninterest income was $19,985,000, and
consolidated net income was $14,982,000.  These unaudited results reflect at
least 30 days of combined operations of Keystone Financial, Inc., following
its merger with Financial Trust Corporation on May 30, 1997.  In the opinion
of the management of Keystone Financial, Inc., all adjustments (consisting
only of normal recurring accruals) necessary to reflect a fair statement of
the results for this interim period have been included.  The results for the
quarter ended June 30, 1997, are not necessarily indicative of the results for
the entire year.


                                   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.




                                    Keystone Financial, Inc.
                                    ______________________________
                                    (Registrant)





Date:     July 18, 1997             Donald F. Holt
          ________________         _______________________
                                    
                                    Senior Vice President &
                                    Controller