FIRST PLACE FINANCIAL CORP
8-K, 1998-08-05
STATE COMMERCIAL BANKS
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<PAGE>

                     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)
                               July 30, 1998



                      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

         Resignation of Ben Heikkinen from First Place Financial Corporation 
         Board.



ITEM 7.  FINANCIAL STATEMENTS AND EXHIBITS

         (c) EXHIBITS

         Resignation letter dated July 30, 1998 from Ben Heikkinen.






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<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:  August 5, 1998                    /s/ James D. Rose
       ---------------                   ---------------------------------
                                         President and Chief Operating Officer



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<PAGE>

                                 [LETTERHEAD]
                                      

30 JULY 1998


MR. RICHARD L. LEDBETTER
PRESIDENT/CEO
First National Bank of Farmington
P.O. Box 4540
Farmington, NM 87499

SUBJECT:  Resignation First Place Financial Board

Dear Mr. Ledbetter:

It is with regret that I submit my resignation to the First Place Financial 
Board. I have served on the Board for approximately eight (8) years. I have 
enjoyed the experience and have learned a great deal about business and in 
particular financing of businesses.

I look forward to continuing our business relationship and hope the Bank and 
its Board the very best.

Respectfully submitted,


/s/ Ben Heikkinen
- ----------------------
Ben Heikkinen
BH:eh




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