**SECURITIES      AND EXCHANGE COMMISSION**

**Washington,      D.C. 20549**

**FORM      8-K**

| Delaware                                    | 0-25509                              | 42-1485449                                          |
|---------------------------------------------|--------------------------------------|-----------------------------------------------------|
| (State                or other jurisdiction | (Commission                File No.) | (I.R.S.                Employer Identification No.) |
| of                incorporation)            |                                 |                                                |

| o | Written                communications pursuant to Rule 425 under the securities Act (12                C.F.R.                230.425) |
|---|---------------------------------------------------------------------------------------------------------------------------------------|

| o | Soliciting                material pursuant to Rule 14a-2 under the Exchange Act (17 C.F.R.                240.14a-12) |
|---|------------------------------------------------------------------------------------------------------------------------|

| o | Pre-commencement                communications pursuant to Rule 14d-2(b) under the Exchange Act (17                C.F.R.                240.14d-2(b)) |
|---|--------------------------------------------------------------------------------------------------------------------------------------------------------|

| o | Pre-commencement                communications pursuant to Rule 13e-4(c) under the Exchange Act (17                C.F.R.                240.13e-4(c)) |
|---|--------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| **Item 8.01.** | **Other                Events.** |
|---------------------|----------------------------------|

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

| *Exhibit                No**.* | * **Exhibit                Description** * |
|--------------------------------|------------------------------------------------------|
|                           |                                                 |
| 10.1                           | Press                release dated January 30, 2007. |

----

**SIGNATURE**

|                                  | **FIRST                FEDERAL BANKSHARES, INC.** |
|---------------------------------------|---------------------------------------------------|
|                                  |                                              |   |
| DATE:                February 2, 2007 | By:                                               | /s/Michael                S. Moderski |
|                                  |                                              | Michael                S. Moderski |
|                                  |                                              | Senior                Vice President, Chief Financial |
|                                  |                                              | Officer                and Treasurer |