8-K

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                     SECURITIES  AND  EXCHANGE  COMMISSION
                             WASHINGTON, DC  20549




                                   FORM  8-K


                                 CURRENT REPORT



                        Pursuant to Section 13 or 15(d)
                                     of the
                      Securities and Exchange Act of 1934


                Date of Report (Date of earliest event reported)
                                OCTOBER 17, 1997


                              CITFED BANCORP, INC.
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            (Exact name of Registrant  as specified in its Charter)



      DELAWARE                     0-19611                 31-1332674 
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(State or other jurisdiction  (Commission File No.) (IRS Employer Identification
of incorporation)                                   Number)


                ONE CITIZENS FEDERAL CENTRE, DAYTON, OHIO  45402
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                    (Address of principal executive offices)


                                 (937) 223-4234
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              (Registrant's telephone number, including area code)


                                 NOT APPLICABLE
- --------------------------------------------------------------------------------
         (Former name or former address, if changed since last report)
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ITEM 5.     OTHER EVENTS.

On October 17, 1997, the Registrant issued the attached press release,
announcing the declaration of a three for two stock split and a second quarter
cash dividend.


ITEM 7.     FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND EXHIBITS.

         (c)     Exhibits:

                 Exhibit 99:     Press Release dated October 17, 1997.





                                   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.


                                                  CITFED BANCORP, INC.



Date:    October 21, 1997                     By: John H. Curp
                                                  ------------------------------
                                                  John H. Curp
                                                  Senior Vice President and
                                                  Corporate Secretary
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                                EXHIBIT INDEX


EXHIBIT NO.                          DESCRIPTION
- -----------                          -----------
   99                       Press Release dated October 17, 1997.

EX-99

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                      [CITFED BANCORP, INC. LETTERHEAD]


FOR IMMEDIATE RELEASE
October 17, 1997

CITFED BANCORP, INC. DECLARES THREE-FOR-TWO STOCK SPLIT
AND ANNOUNCES SECOND QUARTER CASH DIVIDEND

Dayton, Ohio--CitFed Bancorp, Inc. (NASDAQ/NNM:CTZN) Board of Directors today
approved a three-for-two stock split in the form of a stock dividend.  CitFed's
regular quarterly cash dividend of  nine cents per share was also declared on
the post-split shares.  The Corporation's cash dividend will increase by 50
percent.  The announcement was made by Chairman and President Jerry L. Kirby.

         The stock dividend will be paid November 28, 1997 to stockholders of
record as of  November 14, 1997.  The stock dividend will pay one common share
of CitFed Bancorp stock for every two shares of common stock held on the record
date.  Stockholders will receive cash in lieu of fractional shares.  The
regular quarterly cash dividend will be based on all outstanding common shares
including the stock dividend and will be paid on December 1, 1997 to
stockholders of record on November 14, 1997.

         "Record earnings performance, improved operating efficiencies and
enhancements to product lines generating increased non-interest income, all
have  contributed to the financial success reported by the Corporation.  The
Board of Directors has declared this stock dividend in recognition of this
performance.  Combined with our increased cash dividends, these actions clearly
demonstrate our intent to enhance shareholder value,"  stated Kirby.

         CitFed Bancorp, Inc. plans to announce earnings for the second quarter
of fiscal 1997 on October 28.  

                                     more
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CitFed/2

         CitFed Bancorp, Inc. is the holding company of Citizens Federal Bank,
F.S.B., the largest financial institution headquartered in Dayton with assets
of $3.3 billion.  Citizens Federal operates 35 offices in a seven-county area.
CitFed Mortgage Corporation of America, the wholly owned subsidiary of Citizens
Federal has loan origination offices in Ohio, Indiana, Kentucky, Virginia and
North Carolina.
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