UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. )
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IFB Holdings, Inc.
(Name of Issuer)
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Common Stock par value $.01 per share
(Title of Class of Securities)
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448953-10-9
(CUSIP Number)
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Lindsay Olsen
5200 West 94th Terrace, Prairie Village, KS 66207
(913) 648-8010
(Name, Address and Telephone Number of Person Authorized to
Receive Notices and Communications)
July 1, 1997
(Date of Event which Requires Filing of this Statement)
If the filing person has previously filed a statement on Schedule
13G to report the acquisition which is the subject of this
Schedule 13D, and is filing this schedule because of Rule 13d-1
(b) (3) or (4), check the following box .
Check the following box if a fee is being paid with the statement
. (A fee is not required only if the reporting person: (1) has
a previous statement on file reporting beneficial ownership of
more than five percent of the class of securities described in
Item 1; and (2) has filed no amendment subsequent thereto
reporting beneficial ownership of five percent or less of such
class.) (See Rule 13d-7.)
Note: Six copies of this statement, including all exhibits,
should be filed with the Commission. See Rule 13d-1 (a) for
other parties to whom copies are to be sent.
* The remainder of this cover page shall be filled out for a
reporting persons initial filing on this form with respect to
the subject class of securities, and for any subsequent amendment
containing information which would alter disclosures provided in
a prior cover page.
The information required on the remainder of this cover page
shall not be deemed to be filed for the purpose of Section 18
of the Securities Exchange Act of 1934 (Act) or otherwise
subject to the liabilities of that section of the Act but shall
be subject to all other provisions of the Act (however, see the
Notes).
THIS STATEMENT CONTAINS NINE (8) PAGES AND THE EXHIBIT INDEX
IS ON PAGE FIVE (5).
SCHEDULE 13D
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CUSIP NO. 448953-10-9 Page 2 of 8 Pages
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1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Mortgage Investment Trust Corporation
48-1101989
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP *(a) ( )
(b) (X)
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3 SEC USE ONLY
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4 SOURCE OF FUNDS *
BK, WC
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d)( ) OR 2(e)( )
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
KANSAS
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NUMBER OF 7 SOLE VOTING POWER
SHARES 49,300
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BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY NONE
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EACH 9 SOLE DISPOSITIVE POWER
REPORTING 49,300
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PERSON 10 SHARED DISPOSITIVE POWER
WITH NONE
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
49,300
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12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
8.32%
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14 TYPE OF REPORTING PERSON
CO
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* SEE INSTRUCTION BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE
ATTESTATION
Page 3 of 8 Pages
Item 1. Security and Issuer
This statement relates to the Common Stock, par value $.01
per share (the Common Stock:) issued by IFB Holdings, Inc.
whose principal executive offices are located at 522 Washington
Street, Chillicothe, Missouri, 64601.
Item 2. Identity and Background
This statement is filed by Mortgage Investment Trust
Corporation, a Kansas Corporation (MITC). Lindsay Olsen and
Steven B. Chase are the controlling shareholders of MITC. The
directors and officers of MITC are Lindsay Olsen (President and
Director) and Steven B. Chase (Secretary and Director).
The information required by General Instruction C and by
Item 2 to Schedule 13D with respect to each of the above named
persons is attached to this statement as Exhibits 1A through 1C,
and is incorporated herein by reference.
Item 3. Source and Amount of Funds or Other Consideration
The aggregate purchase price of the 49,300 shares covered by
this Schedule 13D was $635,986.05, including transaction fees.
MITC purchased the Common Stock with internal funds and resources
drawn from a term loan negotiated in the ordinary course of
business with an unaffiliated bank, as defined in Section 3(a)(6)
of the Securities Exchange Act of 1934.
Item 4. Purpose of Transaction
The shares of Common Stock covered by this statement are
being held for investment purposes. Investor has the following
plans with respect to the Common Stock:
(a) MITC intends to continually assess the market for the
Common Stock. MITC or an affiliate may purchase additional
shares or dispose of such shares of the Common Stock from time to
time depending on such continuing assessment and upon future
developments, including the then market price of such shares.
However, it is recognized that if, in the future, certain levels
of share ownership are exceeded, certain regulatory approvals are
required.
(b-j) None
Page 4 of 8 Pages
Item 5. Interest in Securities of the Issuer
(a) The aggregate percentage of shares of Common Stock
reported owned by MITC is based upon 592,523 shares outstanding,
as indicated in response to an inquiry made to IFB Holdings, Inc.
As of the close of business on July 1, 1997, Mortgage Investment
Trust Corporation owned 49,300 shares of Common Stock, or
approximately 8.32% of such number of shares.
(b) MITC beneficially owns 49,300 shares of the Common
Stock and has the sole power to vote and dispose of such shares.
(c) All transactions in the shares of Common Stock effected
by MITC during the past sixty days are described on Exhibit 2
attached hereto. All such shares were purchased through a broker-
dealer.
(d-e) Not applicable.
Item 6. Contracts, Arrangements, Understandings or Relationships
with Respect to Securities of the Issuer.
MITC is under the control of Lindsay Olsen and Steven B.
Chase. See Item 2. above.
Item 7. Material to be Filed as Exhibits.
Exhibit 2 - Transactions in the Common Stock effected
during the past sixty days.
After reasonable inquiry and to the best of my knowledge and
belief, I certify that the information set forth in this
statement is true, complete and correct.
MORTGAGE INVESTMENT
TRUST CORPORATION
Date: July 7, 1997 By:/s/Lindsay Olsen
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Lindsay Olsen, President of
Mortgage Investment Trust Corporation
Page 5 of 8 Pages
EXHIBIT INDEX
Exhibit No. Page No.
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Exhibit 1A 6
Exhibit 1B 6
Exhibit 1C 7
Exhibit 2 8
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Page 6 of 8 Pages
Exhibit 1A
INFORMATION RELATING TO REPORTING PERSONS.
MORTGAGE INVESTMENT TRUST CORPORATION
State or Other Place of Organization: Kansas
Principal Business: Investment in mortgage
loans, real estate, stocks
and financial services.
Address of Principal Business: 5200 West 94th Terrace
Prairie Village, KS 66207
Address of Principal Office: 5200 West 94th Terrace
Prairie Village, KS 66207
Criminal Proceedings During the Last 5 Years: None
Civil Proceedings During the Last 5 Years: None
Exhibit 1B
LINDSAY OLSEN (Director and President of Mortgage Investment
Trust Corporation and a controlling shareholder of Mortgage
Investment Trust Corporation)
Residence or Business Address: 5200 West 94th Terrace
Prairie Village, KS 66207
Principal Occupation or Employment: Management and Investment
Analysis
Name of Employer: Mortgage Investment Trust
Corporation
Principal Business: Investments and Financial
Services
Address: 5200 West 94th Terrace
Prairie Village, KS 66207
Criminal Proceedings During the Last 5 Years: None
Civil Proceedings During the Last 5 Years: None
Citizenship: U.S.A.
Page 7 of 8 Pages
Exhibit 1C
STEVEN B. CHASE (Director and Secretary of Mortgage Investment
Trust Corporation and a controlling shareholder of Mortgage
Investment Trust Corporation)
Residence or Business Address: 5200 West 94th Terrace
Prairie Village, KS 66207
Principal Occupation or Employment: Management and Investment
Analysis
Name of Employer: Mortgage Investment Trust
Corporation
Principal Business: Investments and Financial
Services
Address: 5200 West 94th Terrace
Prairie Village, KS 66207
Criminal Proceedings During the Last 5 Years: None
Civil Proceedings During the Last 5 Years: None
Citizenship: U.S.A.
Page 8 of 8 Pages
Exhibit 2
MORTGAGE INVESTMENT TRUST CORPORATION
Description of Transactions Effected within 60 days
The reporting person effected the following purchases in the
Shares within 60 days of July 1, 1997.
Number of Price Per
Date of Purchase Source Shares Share
(excl. commissions)
________________ ______ _______ _______
July 1, 1997 OTC 4,500 13.25
July 1, 1997 OTC 12,900 13.50
July 1, 1997 OTC 5,000 13.6875
