8-K

                                 UNITED STATES
                       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) March 17, 1999


                         TRANSFINANCIAL HOLDINGS, INC.
             (Exact name of registrant as specified in its charter)



            State of Other Jurisdiction or Incorporation - Delaware

                        Commission File Number - 0-12321

                 IRS Employer Identification Number 46-0278762



                           8245 Nieman Rd., Suite 100
         Lenexa, Kansas 66214
                                       1
                    (Address of Principal Executive Offices)
       Registrant's telephone number, including area code (913) 859-0055
                                       N/A
         (Former name or former address, if changed since last report)


ITEM 5.        OTHER EVENTS

Attached hereto, and incorporated by reference herein, as Exhibit 1 is a press
release dated March 17, 1999, with respect to TransFinancial Holdings, Inc.' s
stock repurchase program.

ITEM 7.           FINANCIAL STATEMENTS AND EXHIBITS.

     1.    Press Release of TransFinancial Holdings, Inc. dated March 17, 1999.





                                   SIGNATURE

  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, thereto duly authorized.



                                  TRANSFINANCIAL HOLDINGS, INC.



                                       2
Date: March 17, 1999              By:  /s/Timothy P. O'Neil

                                          Timothy P. O'Neil
                                          President




























                                       3

EX-99

TransFinancial Holdings, Inc. / Page 1 of 4
Exhibit 1
                        News Release




FOR IMMEDIATE RELEASE

                                                       Contact: Mark A. Foltz
                                     Release                   (913) 859-0055


TRANSFINANCIAL HOLDINGS, INC. EXPANDS STOCK REPURCHASE PROGRAM

LENEXA, KANSAS, MARCH 17, 1999 - TransFinancial Holdings, Inc. (Amex: TFH), a
holding company with businesses in transportation and financial services, today
announced the expansion of its stock repurchase program.

The Board of Directors approved the expansion of its stock repurchase program
from 400,000 shares to 1,030,000 shares.  Since announcement of the program on
February 25, 1999, the Company has repurchased approximately 630,000 shares.
The Company has 3,301,631 shares outstanding after the recent repurchases.  The
Company may buy back shares through open market or privately negotiated
transactions at the discretion of Company management, depending on financial and
market conditions or as otherwise permitted under applicable rules.  The shares
acquired under the program will become treasury shares.

TransFinancial Holdings, Inc., headquartered in Lenexa, Kansas, owns and manages
Crouse Cartage Company, a regional transportation company, and Universal Premium
Acceptance Corporation (UPAC), a nationwide insurance premium finance company.
TransFinancial common stock trades on the American Stock Exchange under the
symbol "TFH." Additional information is available at the Company's website at
www.transfin.com.
TransFinancial Holdings, Inc. / Page 2 of 4

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