1ST CENTRAL FINANCIAL <FCC> SEES HIGHER EARNINGS First Central Financial Corp said it expects earnings to rise significantly in 1987 and said it is actively seeking an acquisition. The property and casualty insurance company's chairman and chief executive officer, Martin J. Simon, told Reuters in an interview that he expects earnings of 33 cts a share in 1987 compared with 25 cts a year ago. He said, "the company currently has the sufficient momentum to achieve those earnings and the successful completion of licensing applications to operate in Pennsylvania, Delaware, Connecticut and Ohio should fuel our earnings." The company is currently licenced to operate only in New York state. Simon estimated that the company would earn seven cts a share in the first quarter compared to three cts in the same quarter a year ago, and eight cts a share in the second quarter compared to five cts earned in 1986. He expects the company to earn nine cts a share for each of the final two quarters of 1987. In addition, Simon said, First Central Financial "is actively looking for, and has several acquisition brokers looking for a small life insurance company to acquire." He said the acquisition should be in the 10 mln dlr range and will be part of a strategy of expanding the company into a "wide spectrum of insurance services." No specific company has been targeted as yet, "but I would like to make my first acquisition in 1987," he said. He said First Central Financial would not itself be an easy takeover target. It wants to remain independent, he said, and has implemented a staggered board of directors system. In addition, Simon, the company's biggest shareholder, holds about 960,000 of the 6.2 mln ouitstanding shares.