-------------------------------------------------------------------------------

                       SECURITIES AND EXCHANGE COMMISSION

                             WASHINGTON, D.C. 20549

                                -----------------


                                    FORM 8-K

                             CURRENT REPORT PURSUANT
                          TO SECTION 13 OR 15(D) OF THE
                         SECURITIES EXCHANGE ACT OF 1934

                                 MARCH 26, 1998
                                -----------------
                Date of Report (Date of earliest event reported)

                     REPUBLIC SECURITY FINANCIAL CORPORATION
             (Exact Name of Registrant as Specified in Its Charter)

                                    FLORIDA
                 (State or Other Jurisdiction of Incorporation)

<TABLE>
<CAPTION>
<S>                                                       <C>
                  0-14671                                            59-2335075
         (Commission File Number)                         (IRS Employer Identification No.)

           4400 CONGRESS AVENUE
         WEST PALM BEACH, FLORIDA                                       33407
 (Address of principal executive offices)                            (Zip Code)
</TABLE>

                                 (561) 840-1200
               Registrant's Telephone Number, Including Area Code

-------------------------------------------------------------------------------

<PAGE>


ITEM 5.     OTHER EVENTS


On March 26, 1998, Republic Security Financial Corporation (the "Company")
entered into a definitive agreement (the "Agreement") whereby Unifirst Federal
Savings Bank ("Unifirst") will merge into Republic Security Bank ("Republic"),
the Company's wholly owned subsidiary, in a stock-for-stock transaction.
Unifirst is headquartered in Hollywood, Florida with two branch offices.
Unifirst has total assets of approximately $140 million, loans of $109 million,
deposits of $130 million and stockholders' equity of $8 million.

Under the terms of the Agreement, shareholders of Unifirst will receive shares
of the Company's common stock for each share of Unifirst's common stock equal to
the number determined by dividing the Unifirst Stock Value, as defined by the
Agreement, by the Company's Average Closing Price, as defined by the Agreement.
The Company will issue approximately 1.2 million shares of its common stock for
all outstanding shares of Unifirst. The Company currently has approximately 22.8
million shares outstanding. The transaction will be a tax-free exchange
accounted for as a pooling-of-interests.

The transaction is subject to shareholder approval of Unifirst, state and
federal regulatory approvals and other customary closing conditions. The merger
is expected to close in the third quarter of 1998.

ITEM 7.     FINANCIAL STATEMENTS AND EXHIBITS

(c)     EXHIBITS

2.1     Agreement and Plan of Merger by and among Republic Security Financial
        Corporation, Republic Security Bank and Unifirst Federal Savings Bank 
        dated March 26, 1998 (without schedules).

<PAGE>

--------------------------------------------------------------------------------

                                   SIGNATURES

    Pursuant to the requirements of the Securities Exchange Act of 1934, the
    registrant has duly caused this report to be signed on its behalf by the
                     undersigned thereunto duly authorized.

                                        Republic Security Financial Corporation
                                              (Registrant)


Date: April 2, 1998                             /S/ CARLA H. POLLARD
                                                -------------------------
                                                Carla H. Pollard
                                                Vice President/Controller




<PAGE>

                                 EXHIBIT INDEX

EXHIBIT      DESCRIPTION
-------      -----------
  2.1     Agreement and Plan of Merger by and among Republic Security Financial
          Corporation, Republic Security Bank and Unifirst Federal Savings Bank 
          dated March 26, 1998 (without schedules).
[{"type": "8-K", "sequence": "1", "secsgml_size_bytes": 4240}]
{"company-data": {"conformed-name": "REPUBLIC SECURITY FINANCIAL CORP", "cik": "0000743136", "assigned-sic": "6035", "irs-number": "592335075", "state-of-incorporation": "FL", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "000-14671", "film-number": "98586361"}, "business-address": {"street1": "4400 CONGRESS AVENUE", "city": "WEST PALM BEACH", "state": "FL", "zip": "33407", "phone": "5618401200"}, "mail-address": {"street1": "4400 CONGRESS AVE", "city": "WEST PALM BEACH", "state": "FL", "zip": "33407"}, "former-company": {"former-conformed-name": "REPUBLIC SAVINGS FINANCIAL CORP", "date-changed": "19920703"}}
-------------------------------------------------------------------------------

                       SECURITIES AND EXCHANGE COMMISSION

                             WASHINGTON, D.C. 20549

                                -----------------

                                    FORM 8-K

                             CURRENT REPORT PURSUANT
                          TO SECTION 13 OR 15(D) OF THE
                         SECURITIES EXCHANGE ACT OF 1934

                                 MARCH 26, 1998
                                -----------------
                Date of Report (Date of earliest event reported)

                     REPUBLIC SECURITY FINANCIAL CORPORATION
             (Exact Name of Registrant as Specified in Its Charter)

                                    FLORIDA
                 (State or Other Jurisdiction of Incorporation)
0-14671                                            59-2335075
         (Commission File Number)                         (IRS Employer Identification No.)

           4400 CONGRESS AVENUE
         WEST PALM BEACH, FLORIDA                                       33407
 (Address of principal executive offices)                            (Zip Code)
(561) 840-1200
               Registrant's Telephone Number, Including Area Code

-------------------------------------------------------------------------------
ITEM 5.     OTHER EVENTS

On March 26, 1998, Republic Security Financial Corporation (the "Company")
entered into a definitive agreement (the "Agreement") whereby Unifirst Federal
Savings Bank ("Unifirst") will merge into Republic Security Bank ("Republic"),
the Company's wholly owned subsidiary, in a stock-for-stock transaction.
Unifirst is headquartered in Hollywood, Florida with two branch offices.
Unifirst has total assets of approximately $140 million, loans of $109 million,
deposits of $130 million and stockholders' equity of $8 million.

Under the terms of the Agreement, shareholders of Unifirst will receive shares
of the Company's common stock for each share of Unifirst's common stock equal to
the number determined by dividing the Unifirst Stock Value, as defined by the
Agreement, by the Company's Average Closing Price, as defined by the Agreement.
The Company will issue approximately 1.2 million shares of its common stock for
all outstanding shares of Unifirst. The Company currently has approximately 22.8
million shares outstanding. The transaction will be a tax-free exchange
accounted for as a pooling-of-interests.

The transaction is subject to shareholder approval of Unifirst, state and
federal regulatory approvals and other customary closing conditions. The merger
is expected to close in the third quarter of 1998.

ITEM 7.     FINANCIAL STATEMENTS AND EXHIBITS

(c)     EXHIBITS

2.1     Agreement and Plan of Merger by and among Republic Security Financial
        Corporation, Republic Security Bank and Unifirst Federal Savings Bank 
        dated March 26, 1998 (without schedules).
--------------------------------------------------------------------------------

                                   SIGNATURES

    Pursuant to the requirements of the Securities Exchange Act of 1934, the
    registrant has duly caused this report to be signed on its behalf by the
                     undersigned thereunto duly authorized.

                                        Republic Security Financial Corporation
                                              (Registrant)

Date: April 2, 1998                             /S/ CARLA H. POLLARD
                                                -------------------------
                                                Carla H. Pollard
                                                Vice President/Controller
EXHIBIT INDEX

EXHIBIT      DESCRIPTION
-------      -----------
  2.1     Agreement and Plan of Merger by and among Republic Security Financial
          Corporation, Republic Security Bank and Unifirst Federal Savings Bank 
          dated March 26, 1998 (without schedules).