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




                             February 2, 2004
______________________________________________________________________________
                  (Date of earliest event reported)



                     First Keystone Financial, Inc.
______________________________________________________________________________
         (Exact name of registrant as specified in its charter)



       Pennsylvania                 000-25328                      23-0469351
______________________________________________________________________________
(State or other jurisdiction  (Commission File Number)           (IRS Employer
of incorporation)                                          Identification No.)



22 West State Street, Media, Pennsylvania                            19063
______________________________________________________________________________
(Address of principal executive offices)                          (Zip Code)



                              (610) 565-6210
______________________________________________________________________________
          (Registrant's telephone number, including area code)



                              Not Applicable
______________________________________________________________________________
(Former name, former address and former fiscal year, if changed since last
report)




ITEM 7.   Financial Statements, Pro Forma Financial Information and Exhibits
          ------------------------------------------------------------------

          (a)  Not applicable.
          (b)  Not applicable.
          (c)  Exhibits

               The following exhibit is filed herewith.

          Exhibit Number           Description
          --------------           -----------

             99.1                  Press release dated February 2, 2004
                                   announcing results of operations for
                                   the three months ended December 31, 2003



ITEM 12.  Results of Operations and Financial Condition
          ---------------------------------------------

     On February 2, 2004, First Keystone Financial, Inc. (the "Company")
reported  its earnings for the quarter ended December 31, 2003.  For
additional information, reference is made to the Company's press release
dated February 2, 2004 which is included as Exhibit 99.1 hereto and is
incorporated herein by reference thereto.  The press release attached hereto
as an exhibit to this Form 8-K is being furnished to the SEC and shall not be
deemed "filed" for any purpose.
















                                    2

                                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.

                                 FIRST KEYSTONE FINANCIAL, INC.



Date: February 3, 2004       By: /s/ Thomas M. Kelly
                                 -------------------------------------
                                 Thomas M. Kelly
                                 President