| | EXHIBIT 99
| | ----------

|For Further Information Contact:                                         | FOR IMMEDIATE RELEASE
|------------------------------------------------------------------------ | ---------------------
|Andra K. Black, Co-President and CFO                                     | February 14, 2001    
|StateFed Financial Corporation
 519 Sixth Avenue
 Des Moines, Iowa 50309 |                      
|Phone: (515) 282-0236                                                    |                      

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|ASSETS                                                 | (Unaudited)       |                
|------------------------------------------------------ | ----------------- | ---------------
|                                                       | December 31, 2000 | June 30, 2000  
|Cash and amounts due from depository institutions      | $    2,884,597    | $   2,477,494  
|Investments in certificates of deposit                 | $       396,454   | $       495,692
|Investment securities held for sale                    | $    1,979,917    | $    2,231,274 
|Loans receivable, net                                  | $  92,020,855     | $  86,572,585  
|Real estate held for investment, net                   | $    2,142,379    | $    2,175,785 
|Property acquired in settlement of loans               | $    1,408,461    | $    1,337,847 
|Office property and equipment, net                     | $    3,625,200    | $    2,965,659 
|Federal Home Loan Bank stock, at cost                  | $    1,762,200    | $    1,464,600 
|Accrued interest receivable                            | $       699,744   | $       573,293
|Other assets                                           | $       415,855   | $       390,550
|TOTAL ASSETS                                           | $107,335,662      | $100,684,779   
|                                                       |                   |                
|LIABILITIES AND STOCKHOLDERS' EQUITY                   |                   |                
|Liabilities:                                           |                   |                
|Deposits                                               | $  54,220,051     | $  53,648,118  
|Advances from Federal Home Loan Bank                   | $  35,235,250     | $  29,283,906  
|Advances from borrowers for taxes and insurance        | $       360,123   | $       353,743
|Accrued interest payable                               | $           4,154 | $       140,243
|Dividends payable                                      | $       191,100   | $       113,220
|Income taxes: current and deferred                     | $       166,439   | $       296,992
|Accounts payable and other liabilities                 | $       191,347   | $       198,689
|TOTAL LIABILITIES                                      | $  90,368,464     | $  84,034,911  
|Stockholders' equity:                                  |                   |                
|Common stock                                           | $        17,810   | $        17,810
|Additional paid-in capital                             | $   8,505,091     | $   8,546,501  
|Unearned compensation - restricted stock awards        | $    (174,321)    | $   (205,761)  
|Unrealized loss on investments                         | $        19,805   | $   (124,579)  
|Treasury stock                                         | $(2,376,066)      | $(2,362,921)   
|Retained earnings - substantially restricted           | $ 10,974,879      | $ 10,778,818   
|TOTAL STOCKHOLDERS' EQUITY                             | $ 16,967,198      | $ 16,649,868   
|TOTAL LIABILITIES AND
            STOCKHOLDERS' EQUITY | $107,335,662      | $100,684,779   

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|                                                     | Three Months EndedDecember 31 | Six Months EndedDecember 31
|---------------------------------------------------- | ----------------------------- | ---------------------------
|                                                     | 2000                          | 1999                       
|OPERATIONS DATA                                      |                               |                            
|Total interest income                                | $2,119,530                    | $1,729,604                 
|Total interest expense                               | 1,276,356                     | 953,547                    
|Net interest income                                  | 843,174                       | 776,057                    
|Provision for loan losses                            | 9,000                         | 9,000                      
|Net interest income after  provision for loan losses | 834,174                       | 767,057                    
|Non-interest income:Real estate operations           | 134,386                       | 128,328                    
|Loss on sale of investments                          | (90,673)                      | --                         
|Other non-interest income                            | 39,371                        | 32,787                     
|Total non-interest income                            | 83,084                        | 161,115                    
|Total non-interest expense                           | 650,154                       | 542,615                    
|Income before income taxes                           | 267,104                       | 385,557                    
|Income tax expense                                   | 90,740                        | 130,140                    
|Net income                                           | $   176,364                   | $   255,417                
|Basic earnings per share                             | $0.12                         | $0.17                      
|Diluted earnings per share                           | $0.12                         | $0.17