Exhibit 99.1      Press Release

PRESS RELEASE
October 27, 2000

                                For further information contact:
                                David M. Bradley
                                Chairman, President and Chief Executive Officer
                                North Central Bancshares, Inc.
                                825 Central Avenue
                                Fort Dodge, Iowa 50501
                                515-576-7531

                    NORTH CENTRAL BANCSHARES, INC. ANNOUNCES
                            STOCK REPURCHASE PROGRAM

Fort Dodge,  Iowa,  October 27, 2000 - North Central  Bancshares,  Inc. (Nasdaq:
"FFFD") (the  "Company"),  the holding company for First Federal Savings Bank of
Iowa,  announced  today that it will commence a stock  repurchase  program.  The
program  authorizes  the  Company  to  repurchase  up to  100,000  shares of its
outstanding   shares  of  common  stock  during  the  next  twelve  months.  The
repurchases will be made from time to time, in open market transactions,  at the
discretion of management.

This new  program  will  commence at the  completion  of the  Company's  current
repurchase  program which began on April 12, 2000, of which 10,862 shares remain
to be purchased.

North Central Bancshares, Inc., with over $384 million in assets, is the holding
company for First  Federal  Savings  Bank of Iowa, a federally  chartered  stock
savings bank.  First Federal is a  community-oriented  institution  serving Iowa
through 8 full service locations in Fort Dodge, Nevada, Ames, Perry,  Burlington
and Mt.  Pleasant,  Iowa.  First  Federal's  deposits are insured by the Federal
Deposit Insurance Corporation.