IFB HOLDINGS INC
8-K, 1997-02-06
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

       Date of Report (Date of earliest event reported):
                       January 30, 1997

                        IFB Holdings, Inc.
               ---------------------------------
   (Exact name of registrant as specified in its charter)

    Delaware                 0-21687                43-1760023
- -----------------      -------------------    -------------------
(State or other       (Commission File No.)      (I.R.S. Employer
  jurisdiction                                Identification No.)
of incorporation)

         Registrant's telephone number, including area code:
                         (816) 646-3733



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

PAGE
<PAGE>
Item 5.     Other Events.

     On January 30, 1997, Investors Federal Bank and Savings
Association, the wholly-owned subsidiary of IFB Holdings, Inc.
(the "Registrant"), completed its conversion to a national bank,
which will operate under the name Investors Federal Bank,
National Association.

     For further information, see the Registrant's press release
included as Exhibit 99 to this report.

Item 7.     Financial Statements, Pro Forma Financial
            Information, and Exhibits

     The following Exhibits are filed as part of this report:

     Exhibit 99     Press Release of IFB Holdings, Inc.

PAGE
<PAGE>
                          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, hereunto duly authorized.

                           IFB HOLDINGS, INC.


DATE: February 5, 1997     By: /s/ Earle S. Teegarden, Jr.
                               ----------------------------------
                               Earle S. Teegarden, Jr.
                               President and Chief Executive
                                Officer


PAGE
<PAGE>
                          EXHIBIT INDEX

The following Exhibits are filed as part of this report:

     Exhibit 99     Press Release of IFB Holdings, Inc.


PAGE
<PAGE>



                       FOR IMMEDIATE RELEASE
Press Release          Contact: Earle Teegarden Jr., President
                       (816) 646-3733


           IFB HOLDINGS, INC., ANNOUNCES COMPLETION BY 
       SUBSIDIARY OF CONVERSION FROM A THRIFT INSTITUTION
                       TO A NATIONAL BANK


     Chillicothe, Missouri, January 31, 1997 Mr. Earle Teegarden,
Jr., Chief Executive Officer of IFB Holdings, Inc., the holding
company for Investors Federal Bank and Savings Association,
announced today that the Association has completed its conversion
to a national bank.  The national bank will operate under the
name Investors Federal Bank, National Association.  The Bank is
headquartered in Chillicothe, Missouri, and will operate branch
offices in Hamilton and Gallatin, Missouri.  Investors Federal
had previously completed its conversion from a mutual to a stock
institution in December 1996.

     The common stock of IFB Holdings, Inc., trades in the over
the counter market through the National Daily Quotation Symbol
"pink sheets" under the symbol IFBH.




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