EXHIBIT 23.5   CONSENT AND SUBSCRIPTION RIGHTS OPINION OF KELLER & COMPANY, INC.

 
                                                                    Exhibit 23.5

 
                            KELLER & COMPANY, INC.
                            555 METRO PLACE NORTH 
                                   SUITE 524
                              DUBLIN, OHIO 43017
                                (614) 766-1426
                                (614) 766-1459 FAX

September 9, 1998


The Board of Directors
First Federal Savings and Loan Association
185 E. Market Street
Warren, Ohio 44481


Re:   Subscription Rights - Conversion of First Federal Savings and Loan
      Association

Gentlemen:

The purpose of this letter is to provide an opinion of the value of the
subscription rights of the "to be issued" common stock of First Place Financial
Corp. (the "Corporation"), Warren, Ohio in regard to the conversion of First
Federal Savings and Loan Association ("First Federal" or the "Association") from
a federal-chartered mutual savings and loan association to a federal-chartered
stock savings and loan association.

Because the Subscription Rights to purchase shares of Common Stock in First
Place Financial Corp. , which are to be issued to the depositors of First
Federal Savings and Loan Association, and the other members of the Association
and will be acquired by such recipients without cost, will be nontransferable
and of short duration and will afford the recipients the right only to purchase
shares of Common Stock at the same price as will be paid by members of the
general public in a Direct Community Offering, we are of the opinion that:

      (1) The Subscription Rights will have no ascertainable fair market value,
          and;

      (2) The price at which the Subscription Rights are exercisable will not be
          more or less than the fair market value of the shares on the date of
          the exercise.

Further, it is our opinion that the Subscription Rights will have no economic
value on the date of distribution or at the time of exercise, whether or not a
community offering takes place.

Sincerely,

KELLER & COMPANY, INC.


/s/ Michael R. Keller
Michael R. Keller
President