FIRSTFED FINANCIAL CORP
10-Q/A, 1994-11-15
SAVINGS INSTITUTION, FEDERALLY CHARTERED
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<PAGE>
==========================================================================
                                                                               

                       SECURITIES AND EXCHANGE COMMISSION
                            Washington, D.C. 20549

                                 FORM 10-Q/A

(Mark One)
[x]  QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE 
      SECURITIES EXCHANGE ACT OF 1934 

                                                                              
    For  the  quarterly  period  ended       September 30, 1994            
                                             ------------------
 
 OR
                                
[ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE                    
SECURITIES EXCHANGE ACT OF 1934


  For  the  transaction  period  from       N/A       to                        
                                        -----------      -----------
                          
                          Commission File No. l-9566
                                       
                           FIRSTFED FINANCIAL CORP.
        (Exact  name  of  registrant  as  specified  in  its  charter)
                                       
                                       
        Delaware                                  95-4087449
   (State or other jurisdiction of               (I.R.S. Employer
    incorporation or organization)               Identification No.)
            
   40l  Wilshire  Boulevard,  Santa  Monica,  California  9040l-l490
   (Address of principal executive offices)               (Zip Code)
  
Registrant's telephone number, including area code: (310) 319-6000


Indicate by check mark whether the Registrant (l) has filed all reports 
required to be filed by Section l3 or l5(d) of the Securities Exchange 
Act of l934 during the preceding l2 months (or for such shorter period 
that the Registrant was required to file such reports), and (2) has been
subject to such filing requirements for the past 90 days.
Yes X  No _       


The number of shares of Registrant's $0.01 par value common stock 
outstanding as of November 1, 1994 was 10,595,072.

                                                                                
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<PAGE>                                          
                                          
PART II - OTHER INFORMATION                                          

Item 6.  Exhibits and Reports on Form 8-K (Unaudited)

a)    Exhibits

      (4)   Instruments defining the rights of security holders,  
            including indentures.  See indenture filed as Exhibit 4
            to Amendment No. 3 to S-3 dated September 20, 1994 and
            incorporated by reference.

     (11)   Computation of earnings per share.  Part I hereof is
            hereby incorporated by reference.

     (19)   Reports furnished to security holders.  The third quarter 
            letter to stockholders for the period ended September 30, 
            1994.  Pages 21 to 28.

     (27)   Financial Data Schedule.

b)   Reports on Form 8-K 

       1)   A report on Form 8-K was filed for the event reported   
            July 29, 1994.


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<PAGE>


                FirstFed Financial Corp. and Subsidiary
                      Financial Data Schedule
               For the nine months ended September 31, 1994        
                                   
[ARTICLE] 9

[LEGEND]                                   

This Schedule contains summary financial information extracted from the
company's Consolidated Statements of Earnings and Consolidated Balance 
Sheets and is qualified in its entirety by referenceto such financial
statements.

[/LEGEND]

[MULTIPLIER]  1,000

<TABLE>
<S>                                    <C>
[FISCAL-YEAR-END]                      Dec-31-1994
[PERIOD-START]                         Jan-o1-1994
[PERIOD-END]                           Sep-30-1994
[PERIOD-TYPE]                                9-mos
[CASH]                                      20,457
[INT-BEARING-DEPOSITS]                           0
<FED-FUND-SOLD>                                  0
[TRADING-ASSETS]                                 0
<INVESTMENTS-HELD-FOR SALE>                 24,162
[INVESTMENTS-CARRYING]                      87,344
[INVESTMENTS-MARKET]                        83,898
[LOANS]                                  3,760,621
[ALLOWANCE]                                 69,625
[TOTAL-ASSETS]                           4,031,068
[DEPOSITS]                               2,206,294
[SHORT-TERM]                             1,219,300
[LIABILITIES-OTHER]                         47,352
[LONG-TERM]                                377,200
[PREFERRED-MANDATORY]                            0
[PREFERRED]                                      0
[COMMON]                                       114
[OTHER-SE]                                 180,808
[TOTAL-LIABILITY-AND-EQUITY]             4,031,068
[INTEREST-LOAN]                            162,314
[INTEREST-INVEST]                            7,333
[INTEREST-OTHER]                                 0
[INTEREST-TOTAL]                           169,647
[INTEREST-DEPOSIT]                          64,175
<INTEREST-BORROWINGS>                       43,411
[INTEREST-EXPENSE]                         107,586
[INTEREST-INCOME-NET]                       62,061
[LOAN-LOSSES]                               82,700
[SECURITIES-GAINS]                             504
[EXPENSE-OTHER]                             35,497
<INCOME-(LOSS)-PRETAX>                     (47,097)
<INCOME-(LOSS)-PRE-EXTRAORDINARY>          (47,097)
[EXTRAORDINARY]                                  0
[CHANGES]                                        0
[NET-INCOME]                               (27,510)
[EPS-PRIMARY]                                (2.61)
[EPS-DILUTED]                                (2.61)
[YIELD-ACTUAL]                               (2.19%)
[LOANS-NON]                                103,758
[LOANS-PAST]                                     0
[LOANS-TROUBLED]                                 0
[LOANS-PROBLEM]                                  0
[ALLOWANCE-OPEN]                            46,900
[CHARGE-OFFS]                               54,686
[RECOVERIES]                                     0
[ALLOWANCE-CLOSE]                           74,914
[ALLOWANCE-DOMESTIC]                        74,914
[ALLOWANCE-FOREIGN]                              0
[ALLOWANCE-UNALLOCATED]                          0

</TABLE>


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<PAGE>                   


                            Signature



                                     FirstFed Financial Corp. 
                                     ------------------------
                                     
                                     Registrant

                                     Date:  November 15, 1994

                                     
                                     By /s/ WILLIAM MORTENSEN
                                        ----------------------  
                                          William S. Mortensen
                                          Chairman of the Board and
                                            Chief Executive Officer


                                     By /s/ JAMES GIRALDIN 
                                        -------------------  
                                          James P. Giraldin
                                          Chief Financial Officer and
                                             Executive Vice President


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