SHO ME FINANCIAL CORP
8-K, 1996-08-19
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



         Date of Report (Date of earliest event reported)
                          August 19, 1996



                       SHO-ME FINANCIAL CORP.                     
- -----------------------------------------------------------------
      (Exact name of Registrant as specified in its Charter)



                                                        
   Delaware                   0-24084                43-1676367   
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(State or other         (Commission File No.)      (IRS Employer
 jurisdiction of                                   Identification
 incorporation)                                        Number)




109 North Hickory, Mount Vernon, Missouri             65712-1004  
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(Address of principal executive offices)               (Zip Code)




Registrant's telephone number, including area code:(417) 466-2171
- -----------------------------------------------------------------



                               N/A                               
- -----------------------------------------------------------------
(Former name or former address, if changed since last report)

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Item 5.  Other Events
- ---------------------

     On August 9, 1996, the Registrant issued the attached press
release announcing a stock repurchase program.


Item 7.  Financial Statements and Exhibits
- ------------------------------------------

     (a)  Exhibits

          99.1  Press release, dated August 9, 1996.

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                            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 thereunto duly authorized.


                                   SHO-ME FINANCIAL CORP.




Date:   August 19, 1996             By: /s/ RAYMOND G. MERRYMAN 
        ---------------                -----------------------
                                       Raymond G. Merryman
                                       President and Chief 
                                        Executive Officer



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FOR IMMEDIATE RELEASE              FOR ADDITIONAL INFORMATION
AUGUST 9, 1996                     CONTACT RAYMOND G. MERRYMAN
                                   (416) 466-2171


                 SHO-ME FINANCIAL CORP. ANNOUNCES
                     STOCK REPURCHASE PROGRAM



Mt. Vernon, Missouri, August 9, 1996 - Sho-Me Financial Corp.
announced its intention today to repurchase up to 86,634 or
approximately 5% of its outstanding shares in the open market over
the next twelve months.  The shares will be purchased at prevailing
market prices from time to time depending upon market conditions.

The Company's Directors approved the repurchase program in view of
the strong capital position of the Corporation's subsidiary, 1st
Savings Bank, f.s.b. and their belief that the repurchase of the
company's stock represents an attractive investment opportunity
which will benefit the Corporation and its stockholders.  "The
repurchased shares will become treasury shares and will be used for
general corporate purposes."

Over the past three months, the Company's shares traded between
$15.50 and $17.00.  At June 30, 1996, the Corporation had
approximately $280 million in assets, stockholders' equity of $30.8
million, and 1,732,674 shares outstanding.






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