FIRST PLACE FINANCIAL CORP
8-K, 1997-11-21
STATE COMMERCIAL BANKS
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<PAGE>
                                       
                     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)
                              November 19, 1997





                      FIRST PLACE FINANCIAL CORPORATION           
          --------------------------------------------------------
           (Exact name of registrant as specified in its charter)





          New Mexico                   0-25956                  85-0317365
- -------------------------------      ------------           -------------------
(State or other jurisdiction of      (Commission             (I.R.S. Employer
 incorporation or organization)      file number)           Identification No.)






100 East Broadway, Farmington, New Mexico                             87401
- -------------------------------------------------------------------------------
Address of principal executive offices                               Zip Code


Registrant's telephone number, including area code: (505) 324-9500
                                                    --------------

<PAGE>

ITEM 5.   OTHER EVENTS

          News release dated November 19, 1997, announcing the adoption of a
          Corporate Stock Repurchase Plan.


ITEM 7.   FINANCIAL STATEMENTS AND EXHIBITS

          (c) EXHIBITS


          News release from First Place Financial Corporation dated November 19,
          1997.

<PAGE>
                                       
                                  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 PLACE FINANCIAL CORPORATION
                                        --------------------------------------
                                                     (Registrant)



Date: November 19, 1997                 James D. Rose
      ------------------------          --------------------------------------
                                        President and Chief Operating Officer



<PAGE>
                                       
                                 NEWS RELEASE


DATE:               November 19, 1997
CONTACT:            James D. Rose, President
TELEPHONE:          (505) 324-9542

                        FIRST PLACE FINANCIAL CORPORATION

FARMINGTON, NEW MEXICO - On November 19, 1997, the Board of Directors of 
First Place Financial Corporation approved a stock repurchase plan (the 
"Plan") pursuant to Rule 10b-18 under the Securities Exchange Act of 1934, as 
amended. Pursuant to the Plan, the Company may, from time to time, repurchase 
shares of its common stock, (no par value), at market value as determined by 
the executive officers of the Company in accordance with the procedures of 
Rule 10b-18.  The Company may purchase up to 200,000 shares of its common 
stock pursuant to the Plan.

     Shareholders interested in obtaining information should contact James D. 
Rose at (505) 324-9542 during regular business hours.

     First Place Financial Corporation, based in Farmington, New Mexico, owns 
First National Bank of Farmington, Western Bank, Gallup, New Mexico, and 
Burns National Bank of Durango, Colorado and is the largest bank holding 
company headquartered in New Mexico.



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