UNITED STATES
                       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

      Date of Report (Date of earliest event reported): September 7, 2006
                                                        -----------------

                            DSA Financial Corporation
                            -------------------------
             (Exact Name of Registrant as Specified in its Charter)

           Delaware                   0-50864                   20-1661802
-----------------------------  ---------------------        -------------------
(State or Other Jurisdiction)  (Commission File No.)        (I.R.S. Employer
      of Incorporation)                                     Identification No.)


118 Walnut Street, Lawrenceburg, Indiana                               47025
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(Address of Principal Executive Offices)                             (Zip Code)

Registrant's telephone number, including area code:  (812) 537-0840
                                                     --------------



                                 Not Applicable
                                 --------------
          (Former name or former address, if changed since last report)

Check  the  appropriate  box  below  if the  Form  8-K  filing  is  intended  to
simultaneously  satisfy the filing obligation of the registrant under any of the
following provisions (see General Instruction A.2. below):

[  ]  Written communications pursuant to Rule 425 under the Securities
      Act (17 CFR 230.425)

[  ]  Soliciting material pursuant to Rule 14a-12 under the Exchange
      Act (17 CFR 240.14a-12)

[  ]  Pre-commencement communications pursuant to Rule 14d-2(b) under
      the Exchange Act (17 CFR 240.14d-2(b))

[  ]  Pre-commencement communications pursuant to Rule 13e-4(c) under
      the Exchange Act (17 CFR 240.13e-4(c))

Item 8.01.        Other Events
                  ------------

     On September 7, 2006,  the Board of Directors of the  Registrant  adopted a
stock repurchase program. The press release announcing the adoption of the stock
repurchase program is attached as Exhibit 99 to this report.

Item 9.01.        Financial Statements and Exhibits
                  ---------------------------------

     The Index of Exhibits immediately precedes the attached exhibits.

                                   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, hereunto duly authorized.

                                           DSA FINANCIAL CORPORATION



DATE: September 8, 2006               By:  /s/ Edward L. Fischer
                                           -------------------------------------
                                           Edward L. Fischer
                                           President and Chief Executive Officer







                                  EXHIBIT INDEX

         Exhibit No.                  Description
         -----------                  -----------

           99               Press Release of DSA Financial Corporation