First Place Financial 8-K This presentation contains "forward-looking statements" as that term is defined in the Private Securities Litigation Reform Act of 1995. Words or

1

Acquisition

of

The Northern Savings & Loan Company

by

First Place Financial Corp.

Exhibit 99.1

2

Forward-Looking Statements

This presentation contains "forward-looking statements" as that term is defined in the Private Securities Litigation Reform Act of 1995. Words or

phrases such as "expect," "believe," "intend," "plan," "estimate," "may," "should," "will likely result,"  "will continue," "is anticipated," "estimate," "project"

and

similar

expressions

are

intended

to

identify

forward-looking

statements.

Such

forward-looking

statements

are

subject

to

and

involve

known

and

unknown risks, uncertainties and other factors, which may cause actual results to be materially different from those indicated in the forward looking

statements.

The

following

factors,

among

others,

could

cause

actual

results

to

differ

materially

from

the

anticipated

results

or

other

expectations

expressed

in

forward

looking

statements:

(1)

the

businesses

of

First

Place

and

Northern

Savings

may

not

be

combined

successfully

or

such

combination may take longer to accomplish than expected; (2) the

cost savings from the merger may not be fully realized or may take longer to realize

than expected; (3)  operating costs, customer loss and business disruption following the merger, including adverse effects on relationships with

employees, may be greater than expected; (4) governmental approvals of the merger may not be obtained, or adverse regulatory conditions may be

imposed in connection with the governmental approvals of the merger; (5) the shareholders of Northern may fail to approve the merger; (6) changes in

general

economic

conditions,

which

could

affect

the

volume

of

loan

originations,

deposit

flows

and

real

estate

values,

credit

quality

trends;

(7)

changes

in

laws,

regulations

or

policies

by

government

or

regulatory

agencies,

(8)

fluctuations

in

interest

rates,

(9)

change

in

the

demand

for

loans

in

the

market

areas

that

First

Place

and

Northern

conduct

their

respective

business,

and

(10)

competition

from

other

financial

services

companies

in

First

Place's

and

Northern

Savings'

markets.

These

statements

include,

but

are

not

limited

to,

statements

about

First

Place's

and

Northern

Savings'

plans,

objectives, expectations and intentions and other statements contained in this presentation that are not historical facts.  First Place and Northern

caution readers not to place undue reliance on any such forward- looking statements, which speak only as of the date made. First Place and Northern

undertake no obligation to publicly release the result of any revisions that may be made to any forward-looking statements to reflect events or

circumstances after the date of such statements or to reflect the occurrence of anticipated or unanticipated events.

This presentation does not constitute an offer of securities by either Northern Savings or First Place. In connection with the proposed transaction, a

registration statement on Form S- 4 will be filed with the SEC. The registration statement will contain a proxy statement / prospectus to be distributed to

the shareholders of Northern in connection with their vote on the merger. The information in this presentation is not a substitute for the registration

statement and any other documents First Place and Northern intend to file with the SEC and, in the case of Northern, with the Office of Thrift

Supervision ("OTS").

The prospectus/proxy statement will be, and other documents filed or to be filed by First Place with the SEC will be, available free of charge at the

SEC's

website

(www.sec.gov)

or

from

First

Place

by

contacting

Paul

S.

Musgrove,

CFO,

First

Place

Financial

Corp,

Inc.,

(330)

373-1221. 

3

First Place Financial Corp. is a $2.6 billion thrift holding company with locations extending throughout Ohio, Michigan,

Pennsylvania and Indiana.  

–

Headquarters:  Warren, Ohio

The Northern Savings & Loan Company is a $341 million Ohio chartered savings and loan institution with six locations in

Lorain County, Ohio.

–

Headquarters:  Elyria, Ohio

A summary of the companies’

financial condition and performance as of December 31, 2005 is as follows:

Dollars in thousands, except per share data

First Place

Northern

Combined*

Total Assets

2,626,531

340,807

2,967,338

Net Loans

1,985,931

286,660

2,272,591

Deposits

1,765,081

264,897

2,029,978

Total Equity

245,191

43,490

Equity to Assets

9.34%

12.76%

Tangible Equity to Tangible Assets

6.90%

12.76%

ROAA (%)

0.99%

0.86%

ROAE (%)

10.46%

6.55%

LTM EPS

$1.69

$1.16

Market Capitalization**

$389.3

$47.3

$447.0

* Excludes merger adjustments

**Based on 1/25/2006 market data

Overview

of

First

Place

Financial

Corp.

and

The

Northern

Savings

&

Loan

Company

4

Pro Forma Franchise Overview

County

Branches

Rank

Market Share

Trumbull, OH

8

2

24.38%

Mahoning, OH

11

3

13.95%

Oakland, MI

4

10

1.20%

Portage, OH

2

6

6.86%

Wayne, MI

1

21

0.17%

Cuyahoga, OH*

2

24

0.02%

Lorain, OH

6

4

7.92%

As of June 30, 2005

Overview of Pro Forma Franchise

•

32 retail locations in Ohio and Michigan

•

Network of 16 LPOs

in OH, MI and IN

•

APB Financial Group in PA

•

2 Business Financial Services Centers*

Deposit Market Share

Source:  SNL Financial LC

FPFC Branches are represented by red flags; loan production offices by red triangles

NLVS Branches are represented by green flags; loan production office by green triangle

5

Transaction Description -

Term Sheet

•

Transaction:

Acquisition of The Northern Savings & Loan Company (NLVS)

•

Aggregate Deal Value:

$71.5 million*

•

Deal Consideration :

Either $29.00 per share in cash or 1.138 shares of First Place common stock, or any

combination thereof

•

Exchange Ratio:

Fixed at 1.138 shares of FPFC common stock*

•

Pricing Multiples:

–

Price/Tangible Book Value:

1.64x

–

Price/LTM Earnings:

25.2x

–

Core Deposit Premium:

11.9%

•

Cash / Stock Election:

Shareholders may elect between cash and FPFC stock subject to the limitation that

the aggregate stock consideration is between 80% and 90% of total deal value

•

Termination Fee:

Includes a

$3.5 million (4.9% of total deal value) termination fee and a $500 thousand

fee for lack of shareholder approval

•

Walk-away:

Double trigger walkaway with trumping rights should FPFC’s stock price fall

17.5% on an absolute basis and 17.5% relative to a predetermined

bank and thrift index

*Based upon the 10 day average closing price ending January 25, 2006 of FPFC’s

common stock

6

Strategic Rationale:

–

Natural branch fill-in between Ohio and Michigan locations

–

Access to $265 million of low cost deposit funding

–

Source for future revenue growth through commercial lending and treasury product expansion

Financial:

–

Accretive to GAAP earnings per share 

–

Strengthens tangible capital position

–

Contributions from Northern for the year ended December 31, 2005:

•

Weighted average cost of all deposits of 2.13%

•

Net interest margin of 3.42%

–

Cost savings and revenue enhancement opportunities of approximately $3.1 million

–

Opportunity to enhance fee income growth by introducing First Place’s non- depository business

lines: 

•

Wealth management

•

Insurance / brokerage

•

Private banking

•

Business lending

•

Consumer focus

Transaction Benefits