COMMUNITY FEDERAL BANCORP INC
8-K, 1999-10-19
SAVINGS INSTITUTION, FEDERALLY CHARTERED
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                    SECURITIES AND EXCHANGE COMMISSION
                          Washington, D.C. 20549

                                FORM 8-K

                            CURRENT REPORT
                     PURSUANT TO SECTION 13 OR 15(d)
                 OF THE SECURITIES EXCHANGE ACT OF 1934

                           October 18, 1999
               _________________________________________
                   (Date of earliest event reported)


                    Community Federal Bancorp, Inc.
        ______________________________________________________
        (Exact name of registrant as specified in its charter)

     Delaware                      0-27930                   64-0869537
_____________________________________________________________________________
(State or other            (Commission File Number)       (IRS Employer
jurisdiction of                                          Idenification No.)
incorporation)



  333 Court Street, Tupelo Mississippi                          38802
_____________________________________________________________________________
 (Address of principal executive offices)                    (Zip Code)



                                601-842-3981
            ___________________________________________________
            (Registrant's telphone number, including area code)



                              Not Applicable
_____________________________________________________________________________
       (Former name or former address, if changed since last report)




Item 7.  FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND EXHIBITS.

     a.   Not applicable

     b.   Not applicable

     c.   Exhibits:
          99(a) Press Release, date October 15, 1999








                              SIGNATURES



Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned therunto duly authorized.


Date: October 18, 1999        COMMUNITY FEDERAL BANCORP, INC.

                              By: /s/ Jim Ingram
                                  _____________________________
                                  Jim Ingram,
                                  Chief Executive Officer


                              By: /s/ Sherry McCarty
                                  _____________________________
                                  Sherry McCarty,Vice President and
                                  Chief Financial Officer




                              Exhibit 99(a)
                  Press Release, dated October 15, 1999

                              Press Release


COMMUNITY FEDERAL BANCORP INVESTOR INFORMATION
_____________________________________________________________________________
CONTACT:  Sherry McCarty
          Chief Financial Officer
          (662) 842-3981


October 15, 1999


FOR IMMEDIATE RELEASE


FIRST M&F CORP., COMMUNITY FEDERAL BANCORP, INC. ANNOUNCE SHAREHOLDER APPROVAL
OF MERGER


TUPELO, MS (NASDAQ:CFTP) - Shareholders of Community Federal Bancorp, Inc. and
First M&F Corporation (NASDAQ:FMFC) overwhelmingly approved the merger of the
two banking institutions in special shareholder meetings held today.  With all
regulatory approvals already obtained, the shareholder vote was the last
process remaining prior to closing.  The two companies anticipate closing the
transaction in November.

Community Federal Bancorp, Inc.  CEO Jim Ingram said, "We are excited about
the opportunity to become part of the M&F family.  The merger will be
beneficial for our shareholders, our customers, our staff, and the communities
we serve."

"Both companies have worked hard to move the regulatory and shareholder
approval process forward," said First M&F Corp. Chairman and CEO Hugh S.
Potts, Jr.  "Now we can all concentrate on the business of banking and giving
high-quality customer service to the combined customer base."

Community Federal Bancorp, Inc., the holding company for Community Federal
Bank,  is a $300 million organization located in Tupelo.   First M&F Corp.,
parent of Merchants & Farmers Bank, is a $736 million bank holding company
with 31 banking locations throughout Central and North Mississippi.



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