EXHIBIT 31.2

                    Certification of Chief Financial Officer
            Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002

I, Stephen L. Mourlam, Executive Vice President and Chief Financial Officer,
certify that:

      1.    I have reviewed this quarterly report on Form 10-QSB of Webster City
            Federal Bancorp;

      2.    Based on my knowledge, this quarterly report does not contain any
            untrue statement of a material fact or omit to state a material fact
            necessary to make the statements made, in light of the circumstances
            under which such statements were made, not misleading with respect
            to the period covered by this quarterly report;

      3.    Based on my knowledge, the financial statements, and other financial
            information included in this quarterly report, fairly present in all
            material respects the financial condition, results of operations and
            cash flows of the registrant as of, and for, the periods presented
            in this quarterly report;

      4.    The registrant's other certifying officers and I are responsible for
            establishing and maintaining disclosure controls and procedures (as
            defined in Exchange Act Rules 13a-15(e) and 15d-15(e) and internal
            control over financial reporting (as defined in Exchange Act Rules
            13a-15(f) and 15d-15(f) for the registrant and have:

            a.    designed such disclosure controls and procedures, or caused
                  such disclosure controls and procedures to be designed under
                  our supervision, to ensure that material information relating
                  to the registrant, including its consolidated subsidiaries, is
                  made known to us by others within those entities, particularly
                  during the period in which this quarterly report is being
                  prepared;

            b)    designed such internal control over financial reporting, or
                  caused such internal control over financial reporting to be
                  designed under our supervision, to provide reasonable
                  assurance regarding the reliability of financial reporting and
                  the preparation of financial statements for external purposes
                  in accordance with generally accepted accounting principles;

            d)    evaluated the effectiveness of the registrant's disclosure
                  controls and presented in this report our conclusions about
                  the effectiveness of the disclosure controls and procedures,
                  as of the end of the period covered by this report based on
                  such evaluation; and

            d)    disclosed in this report any change in the registrant's
                  internal control over financial reporting that occurred during
                  the registrant's most recent financial quarter that has
                  materially affected, or is reasonably likely to materially
                  affect, the registrant's internal control over financial
                  reporting; and

      5.    The registrant's other certifying officers and I have disclosed,
            based on our most recent evaluation of internal control over
            financial reporting, to the registrant's auditors and the audit
            committee of registrant's board of directors (or persons performing
            the equivalent functions):

            a.    all significant deficiencies in the design or operation of
                  internal controls over financial reporting which are
                  reasonably likely to adversely affect the registrant's ability
                  to record, process, summarize and report financial data and
                  have identified for the registrant's auditors any material
                  weaknesses in internal controls; and

            b.    any fraud, whether or not material, that involves management
                  or other employees who have a significant role in the
                  registrant's internal controls; and


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Date                                       Stephen L. Mourlam
                                           Executive Vice President and
                                           Chief Financial Officer