For Immediate Release                          For Further Information:
Tuesday, April  21, 1998                       Jeff Francis, President and CEO
                                               Terri Liutkus, Treasurer and CFO
                                               330/726-3396 - telephone
                                               330/758-1356 - telecopier


    FFY Financial Corp. Reports 3rd Quarter Earnings and Regular Dividend

      Youngstown, Ohio, April 21, 1998 - FFY Financial Corp. (NASDAQ:  FFYF) 
announced net income of $2.0 million, or $.51 per share for its third fiscal 
quarter ended March 31, 1998.  The net income for the current quarter 
compared to earnings of $1.9 million, or $.47 per share for the quarter 
ended March 31, 1997.

      Assets totaled $644.6 million at March 31, 1998, an increase of $45.4 
million, or 7.6% from $599.2 million at June 30, 1997.  The increase in 
assets was primarily due to growth in securities and cash and cash 
equivalents of $22.5 million and $18.9 million, respectively, during the 
nine months ended March 31, 1998.  Short-term securities sold under 
agreements to repurchase, which increased $23.7 million during the period 
were used primarily to fund the increase in cash and cash equivalents.  The 
$26.3 million increase in long-term securities sold under agreements to 
repurchase was used to fund growth in the securities portfolio and to 
refinance other borrowings, which declined $11.5 million during the nine 
months ended March 31, 1998.

      Net loans receivable totaled $463.9 million at March 31, 1998, an 
increase of $3.2 million from June 30, 1997.  The growth in loans was 
principally 1-4 family mortgages.  Deposits totaled $451.5 million at March 
31, 1998, an increase of $1.3 million from June 30, 1997.

      In October 1997, the Company announced its plans to offer expanded 
financial services to consumers, including real estate services and property 
and casualty insurance.  Real estate services, which began in September 
1997, and insurance sales, which began operations on April 1, 1998 are 
offered through investments of FFY Holdings, Inc., a wholly owned subsidiary 
of FFY Financial Corp.  The operations of FFY Holdings, Inc. for the three 
and nine months ended March 31, 1998 were net losses of $23,000 and $59,000, 
respectively.

      At its meeting on April 21, 1998, the Company's board of directors 
approved its regular quarterly dividend of 20 cents per share.  The dividend 
will be paid on May 14, 1998 to shareholders of record on April 30, 1998.

      On October 20, 1997, the Company announced its intention to repurchase 
5%, or 206,020 of its then outstanding shares of common stock in open market 
transactions over a twelve month period beginning on that date.  To date, 
81,800 shares have been repurchased at an average cost of $31.76 per share 
and 124,220 shares remain to be repurchased.  Since completing its 
conversion to a publicly owned stock company on June 28, 1993, the Company 
has repurchased 2.9 million shares at an average price of $21.50 per share.

      Except for the historical information contained herein, the matters 
discussed in this press release may be deemed to be forward-looking 
statements that involve risks and uncertainties, including changes in 
economic conditions in the Company's market area, changes in policies by 
regulatory agencies, fluctuations in interest rates, demand for loans in the 
Bank's market area and competition, and other risks detailed from time to 
time in the Company's SEC reports, including the report on Form 10-K for the 
year ended June 30, 1997 and Form 10-Q for the quarters ended September 30, 
1997 and December 31, 1997.  Actual strategies and results in future periods 
may differ materially from those currently expected.  These forward-looking 
statements represent the Company's judgment as of the date of this release.  
The Company disclaims, however, any intent or obligation to update these 
forward-looking statements.