April 2, 1998



The Board of Directors
Ben Franklin Financial, Inc.
14 North Dryden Place
Arlington Heights, Illinois  60004

         Re:      Registration Statement
                  Under the Securities Act of 1933
Gentlemen:

         This opinion is rendered in connection with the Registration  Statement
to be filed on Form S-1 with the  Securities and Exchange  Commission  under the
Securities  Act of 1933 relating to the 1,851,500  shares of Common Stock of Ben
Franklin  Financial,  Inc.  (the  "Company"),  par value $.01 per  share,  to be
issued.  As counsel,  we have reviewed the Certificate of  Incorporation  of the
Company and such other  documents as we have deemed  appropriate for the purpose
of this opinion.  We are rendering this opinion as of the time the  Registration
Statement referred to above becomes effective.

         Based on the foregoing, we are of the opinion that the shares of Common
Stock of the Company covered by the aforesaid  Registration Statement will, when
sold, be validly issued, fully paid and non-assessable shares of Common Stock of
the Company.


                                            Very truly yours,

                                            /s/ SILVER FREEDMAN & TAFF, L.L.P.

                                            SILVER FREEDMAN & TAFF, L.L.P.