UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                  FORM 10-KSB/A

            [X] ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
                        SECURITIES EXCHANGE ACT OF 1934

                   For the Fiscal Year Ended December 31, 2003

                           Commission Number: 0-26577

                          WEBSTER CITY FEDERAL BANCORP
                          ----------------------------
             (Exact Name of Registrant as Specified in its Charter)

         United States                                      42-1491186
   ---------------------------                            ---------------
  (State or Other Jurisdiction                           (I.R.S. Employer
 of Incorporation or Organization)                     Identification Number)

 820 Des Moines Street, Webster City, Iowa                  50595-0638
 -----------------------------------------                  ----------
 (Address of Principal Executive Offices)                   (Zip Code)

                                 (515) 832-3071
                                  -------------
               (Registrant's Telephone Number including area code)

           Securities Registered Pursuant to Section 12(b) of the Act:

                                      None
                                      ----

           Securities Registered Pursuant to Section 12(g) of the Act:

                     Common Stock, par value $.10 per share
                     --------------------------------------
                                (Title of Class)

      Indicate by check mark  whether the  Registrant  (1) has filed all reports
required to be filed by Section 13 or 15(d) of the  Securities  Exchange  Act of
1934 during the  preceding  twelve  months (or for such shorter  period that the
Registrant  was  required  to file  reports)  and (2) has been  subject  to such
requirements for the past 90 days. YES [X] NO[_]

      Indicate by check mark if disclosure of delinquent filers pursuant to Item
405 of Regulation S-B is not contained herein, and will not be contained, to the
best of Registrant's  knowledge,  in definitive proxy or information  statements
incorporated  by reference in Part III of this Form 10-KSB or any  amendments to
this Form 10-KSB. [X]

      Transitional Small Business Disclosure Format: [_] Yes  [X] No

      The  Registrant's  revenues  for year ended  December  31,  2003 were $6.0
million.

      As of  February  27,  2004,  there were issued and  outstanding  3,772,372
shares of the Registrant's Common Stock. The aggregate value of the voting stock
held by non-affiliates of the Registrant, computed by reference to the last sale
price of such stock on the NASDAQ  "Small-Cap"  System as of February  27, 2004,
was  $20,033,120.  (The  exclusion  from such amount of the market  value of the
shares owned by any person  shall not be deemed an  admission by the  Registrant
that such person is an affiliate of the Registrant.)

                       DOCUMENTS INCORPORATED BY REFERENCE

1.    Sections of Annual Report to Stockholders  for the year ended December 31,
      2003 (Parts II and III).

2.    Proxy Statement for the 2004 Annual Meeting of Stockholders (Part III).


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ITEM 13.    EXHIBITS AND REPORTS ON FORM 8-K
            --------------------------------

            13    2003 Annual Report to Stockholders

            31.1  Certification of Chief Executive Officer

            31.2  Certification of Chief Financial Officer

            32    Statement  of Chief  Executive  Officer  and  Chief  Financial
                  Officer   furnished   pursuant   to   Section   906   of   the
                  Sarbanes-Oxley Act of 2002.


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<PAGE>


                                   SIGNATURES

      Pursuant  to the  requirements  of Section  13 or 15(d) of the  Securities
Exchange Act of 1934, the Registrant has duly caused this report to be signed on
its behalf by the undersigned, thereunto duly authorized.

                                           WEBSTER CITY FEDERAL BANCORP


Date: June 16, 2004                      By: /s/ Phyllis A. Murphy
                                           -------------------------------------
                                           Phyllis A. Murphy
                                           President and Chief Executive Officer

      Pursuant to the  requirements  of the  Securities  Exchange of 1934,  this
report  has  been  signed  below  by the  following  persons  on  behalf  of the
registrant and in the capacities and on the dates indicated.



  By: /s/ Phyllis A. Murphy               By: /s/ Stephen L. Mourlam
     -----------------------------------     ----------------------------------
     Phyllis A. Murphy, President, Chief     Stephen L. Mourlam, Executive Vice
     Executive Officer and Director          President and Director
     (Principal Executive Officer)          (Principal Financial and
                                             Accounting Officer)

     Date: June 16, 2004                     Date: June 16, 2004



  By: /s/ Carroll E. Haynes               By: /s/ Donald I. Newman
     -------------------------------         --------------------------
     Dr. Carroll E. Haynes, Chairman         Donald I. Newman, Director
     of the Board

     Date:  June 16, 2004                    Date: June 16, 2004


  By: /s/ Dennis J. Tasler                By: /s/ Leo Mariarty
     --------------------------              --------------------------
     Dennis J. Tasler, Director              Dr. Leo Moriarty, Director

     Date:  June 16, 2004                    Date: June 16, 2004


  By: /s/Kyle R. Swon
     ------------------------------------------------
     Kyle R. Swon, Senior Vice President and Director

     Date: June 16, 2004


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