<PAGE>
<PAGE>
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 8-K
Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): August 20, 1996
First Federal Bancorporation
- - -----------------------------------------------------------------
(Exact name of Registrant as specified in its charter)
Minnesota 0-25704 41-1796238
- - -------------------------------------------------------------------
(State or other jurisdiction (Commission (I.R.S. Employer
of incorporation) File Number) Identification
No.)
214 Fifth Street, Bemidji, Minnesota 56601
___________________________________________ -----------
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (218) 751-5120
--------------
Not Applicable
- - -------------------------------------------------------------------
(Former name or former address, if changed since last report)<PAGE>
<PAGE>
ITEM 5. OTHER EVENTS.
On August 20, 1996 the Registrant announced that it had
approved the establishment of a grantor trust that would commence
purchasing up to 86,250 shares of the Registrant's common stock,
over a twelve month period. The Registrant's press release is
attached hereto as Exhibit 99.1 and incorporated by reference
herein.
ITEM 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND
EXHIBITS.
Exhibit 99.1 Press Release dated August 20, 1996
<PAGE>
<PAGE>
SIGNATURE
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.
FIRST FEDERAL BANCORPORATION
By: /s/ Dennis M. Vorgert
----------------------------
Dennis M. Vorgert
Treasurer
Date: August 20, 1996
<PAGE>
FIRST FEDERAL BANCORPORATION
ANNOUNCES STOCK PLAN TRUST PURCHASE PROGRAM
Bemidji, Minnesota ... August 20, 1996: First Federal
Bancorporation announced today that its Board of Directors has
approved the establishment of a grantor trust that would commence
purchasing up to 86,250 shares of the company's common stock. The
purchases will be dependent upon market conditions and there is no
guarantee as to the exact number of shares to be purchased by the
company's trust.
Mr. William R. Belford, President and Chief Operating Officer
of the company, stated that the trust's purchases are expected to
be completed within the next twelve months, with shares being held
principally for delivery upon the exercise of outstanding stock
options. According to Mr. Belford, the trust's purchases generally
would be effected through open market purchases, although he did
not rule out the possibility of unsolicited negotiated transactions
or other types of repurchases. Mr. Belford explained that the
trust's purchases are designed to offset the future dilution
incurred in connection with implementation of the company's stock
option plan. In addition, Mr. Belford noted that the Board of
Directors considers the company's common stock to be an attractive
investment.
