Exhibit 99.3      Press Release

PRESS RELEASE

January 22, 2001               For further information contact:
                               David M. Bradley
                               Chairman, President and Chief Executive Officer
                               North Central Bancshares, Inc.
                               825 Central Avenue  PO Box 1237
                               Fort Dodge, Iowa 50501
                               515-576-7531

       NORTH CENTRAL BANCSHARES, INC. ANNOUNCES RECORD EARNINGS PER SHARE
                      FOR FOURTH QUARTER AND YEAR END 2000
                                 (Nasdaq: FFFD)

Fort Dodge, Iowa -- North Central Bancshares,  Inc. (the "Company"), the holding
company for First  Federal  Savings Bank of Iowa (the "Bank"),  announced  today
that the Company  earned a record $2.00 diluted  earnings per share for the year
ended December 31, 2000, compared to diluted earnings per share of $1.60 for the
year ended  December  31,  1999,  an increase in diluted  earnings  per share of
25.0%. In dollars,  the Company's net income was $4.0 million for the year ended
December 31, 2000,  as compared to $4.2 million for the year ended  December 31,
1999.

The Company's net income was $1,028,000, or diluted earnings per share of $0.53,
for the fourth quarter of 2000,  compared to net income of $981,000,  or diluted
earnings  per share of $0.43 for the fourth  quarter  of 1999,  an  increase  in
diluted earnings per share of 23.3%.

During the quarter ended December 31, 2000,  the Company  recorded an income tax
benefit of $100,000  and  interest  income on this tax item of  $62,000,  due to
receipt of a state  franchise tax refund related to an issue that had been under
dispute for several years.

Total  assets at December  31,  2000 were  $389.0  million as compared to $367.4
million at December 31, 1999.  The increase in assets  resulted  primarily  from
increases in loans,  offset by a decrease in cash and securities  available-for-
sale. Cash decreased by $3.8 million,  or 30.1%,  from $12.7 million at December
31, 1999 to $8.8  million at December 31,  2000.  Securities  available-for-sale
decreased  $6.3  million,  or 12.8%,  from $49.7 million at December 31, 1999 to
$43.4  million at December 31, 2000.  The decrease in  securities  available for
sale was  primarily due to calls and  maturities  in excess of purchases.  Loans
increased by $31.3  million,  or 10.9%,  to $318.0  million at December 31, 2000
from $286.8 million at December 31, 1999.

Deposits decreased $9.9 million, or 3.6%, to $261.2 million at December 31, 2000
from $271.0 million at December 31, 1999.  Other borrowed funds  increased $32.9
million,  or 59.0%,  to $88.6 million at December 31, 2000 from $55.7 million at
December 31, 1999.  The increase in other  borrowings  was  primarily due to the
funding of asset growth and stock repurchases.

                                     - MORE-
<PAGE>
Nonperforming assets were 0.28% of total assets as of December 31, 2000 compared
to 0.20% of total assets as of December 31, 1999.  The allowance for loan losses
was $2.8  million,  or 0.88% of total loans,  at December 31, 2000,  compared to
$2.8 million, or 0.95% of total loans, at December 31, 1999.

The net  interest  spread  of  2.59%  for  the  year  ended  December  31,  2000
represented a decrease from the net interest  spread of 2.86% for the year ended
December 31, 1999. The net interest  margin of 2.95% for the year ended December
31, 2000  represented a decrease  from the net interest  margin of 3.35% for the
year ended  December 31, 1999.  Net interest  income for the year ended December
31, 2000 was $10.6 million, compared to net interest income of $11.0 million for
the corresponding period a year ago.

The Bank's  provision for loan losses was $120,000 for the years ended  December
31, 2000 and 1999. The Company establishes provisions for loan losses, which are
charged to  operations,  in order to maintain the allowance for loan losses at a
level  which is deemed  to be  appropriate  based  upon an  assessment  of prior
conditions,  the  volume and type of loans in the  Bank's  portfolio,  and other
factors related to the collectibility of the Bank's loan portfolio.

Stockholders'  equity was $36.4 million at December 31, 2000,  compared to $38.1
million at December 31,  1999.  Stockholders'  equity  decreased by $1.7 million
primarily due to stock repurchases and declared dividends,  which were offset in
part by earnings. Book value, or stockholders' equity per share, at December 31,
2000  was  $19.04  compared  to  $16.86  at  December  31,  1999.  The  ratio of
stockholders'  equity to total assets was 9.4% at December 31, 2000, as compared
to 10.4% at December 31, 1999.

Stockholders of record on December 15, 2000,  received a quarterly cash dividend
of $0.125 per share on January 5, 2001.

Recently,  the  Company  commenced  a new stock  repurchase  program for 100,000
shares,  of which  57,500  shares  remain to be  repurchased.  The  Company  has
1,911,880 shares of common stock currently outstanding.

During the year ended  December 31,  2000,  the Company  repurchased  a total of
349,862 shares or approximately  15.5% of its outstanding shares of common stock
at prevailing  market prices averaging $16.40 per share.  Since its formation in
1996,  the Company has invested a total of $34.7  million in the  repurchase  of
2,116,967 shares of its outstanding stock.

The  Company  announced  a  dividend  reinvestment  and stock  purchase  plan on
September 22, 2000.  Shareholders  owning 100 or more shares registered in their
name are eligible to enroll in this plan.

North Central  Bancshares,  Inc. serves north central and southeastern Iowa at 8
full service locations in Fort Dodge, Nevada, Ames, Perry,  Burlington and Mount
Pleasant, Iowa through its wholly-owned  subsidiary,  First Federal Savings Bank
of Iowa,  headquartered in Fort Dodge,  Iowa. The Bank's deposits are insured by
the Federal Deposit Insurance Corporation.  The Company's stock is traded on The
Nasdaq National Market under the symbol "FFFD".

For more information contact:  David M. Bradley, President, 515-576-7531

<PAGE>
FINANCIAL HIGHLIGHTS OF NORTH CENTRAL BANCSHARES, INC. AND SUBSIDIARIES

            Condensed Consolidated Statements of Financial Condition
<TABLE>
<CAPTION>
(Dollars in Thousands, except per share and share data)      December 31, 2000               December 31, 1999

<S>                                                      <C>                              <C>
Assets
   Cash and cash equivalents                             $          8,850                 $         12,669
   Securities available for sale                                   43,351                           49,693
   Loans (net of allowance of loan loss of $2.8
     million and $2.8 million, respectively)                      318,026                          286,838
   Goodwill                                                         5,443                            5,915
   Other assets                                                    13,328                           12,318
                                                          ---------------                  ---------------
     Total Assets                                        $        388,998                 $        367,433
                                                         ================                 ================
Liabilities
   Deposits                                              $        261,166                 $        271,031
   Other borrowed funds                                            88,592                           55,715
   Other liabilities                                                2,842                            2,560
                                                          ---------------                  ---------------
      Total Liabilities                                           352,600                          329,306

Stockholders' Equity                                               36,398                           38,127
                                                          ---------------                  ---------------

   Total Liabilities and Stockholders' Equity            $        388,998                 $        367,433
                                                         ================                 ================
Stockholders' equity to total assets                                 9.36%                           10.38%
                                                         ================                 ================
Book value per share                                     $          19.04                 $          16.86
                                                         ================                 ================
Total shares outstanding                                        1,911,880                        2,261,742
                                                         ================                 ================
</TABLE>

Condensed Consolidated Statements of Income

<TABLE>
<CAPTION>
(Dollars in Thousands, except per share data)

                                                  For the Three Months                    For the Year
                                                   Ended December 31,                  Ended December 31,
                                                2000                 1999             2000             1999
                                                ----                 ----             ----             ----

<S>                                        <C>                  <C>               <C>              <C>
Interest income                            $    7,071           $   6,455         $ 27,284         $  24,556
Interest expense                                4,534               3,778           16,707            13,604
                                            ---------            --------          -------          --------
   Net interest income                          2,537               2,677           10,577            10,952
Provision for loan loss                            30                  30              120               120
                                            ---------            --------          -------          --------
   Net interest income after provision
   for loan loss                                2,507               2,647           10,457            10,832
Noninterest income                              1,118                 959            4,014             4,063
Noninterest expense                             2,286               2,115            8,587             8,454
                                            ---------            --------          -------          --------
   Income before income taxes                   1,339               1,491            5,884             6,441
Income taxes                                      311                 510            1,873             2,241
                                            ---------            --------          -------          --------
   Net income                              $    1,028           $     981         $  4,011         $   4,200
                                           ==========           =========         ========         =========

Basic earnings per share                   $     0.55           $    0.44         $   2.04         $    1.63
                                           ==========           =========         ========         =========

Diluted earnings per share                 $     0.53           $    0.43         $   2.00         $    1.60
                                           ==========           =========         ========         =========
</TABLE>
Selected Financial Ratios
<TABLE>
<CAPTION>
                                                        For the Three Months              For the Year
                                                         Ended December 31,             Ended December 31,

                                                         2000          1999             2000          1999
                                                         ----          ----             ----          ----
<S>                                                     <C>            <C>            <C>            <C>
Performance ratios
   Net interest spread                                   2.44%          2.79%          2.59%          2.86%
   Net interest margin                                   2.77%          3.11%          2.95%          3.35%
   Return on average assets                              1.07%          1.07%          1.06%          1.21%
   Return on average equity                             11.31%         10.07%         11.08%          9.51%
   Efficiency ratio (noninterest expense divided by
     the  sum of net interest income before provision
     for  loan losses plus noninterest income)          62.54%         58.17%         58.85%         56.30%
</TABLE>