8-K

                       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): October 28, 2004


                            FIDELITY FEDERAL BANCORP
             ------------------------------------------------------
             (Exact name of registrant as specified in its charter)

          Indiana                     0-22880                35-1894432
- ----------------------------         ----------              ----------
(State of other jurisdiction         Commission               (Employer
      of Incorporation)               File No.            Identification No.)


                               18 NW Fourth Street
                            Evansville, Indiana 47708
                    ----------------------------------------
                    (Address of principal executive offices)


                                 (812) 424-0921
               --------------------------------------------------
               Registrant's telephone number, including area code



Item 8.01  Other Events

           On October 28, 2004, Fidelity Federal Bancorp issued the press
release attached hereto as exhibit 99.1

Item 9.01  Financial Statements and Exhibits

           Exhibits

           99.1       Press release, dated, October 28, 2004.





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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 hereunto duly authorized.




                                                FIDELITY FEDERAL BANCORP
                                                (Registrant)

Date:  November 2, 2004                         By: /s/  DONALD R. NEEL
       ----------------                             -------------------
                                                    Donald R. Neel
                                                    President and CEO









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                                Index to Exhibits


Exhibit No.                     Description


99.1                            Press Release dated October 28, 2004








                                      -4-

EX-99.1

                                                                    EXHIBIT 99.1

[LOGO OF FIDELITY FEDERAL BANCORP]


Contacts:         Donald R. Neel, President and CEO  (812) 429-0550, ext. 3301
                  Mark A. Isaac, VP and CFO          (812) 429-0550, ext. 3319

For Immediate Release:                               October 28, 2004


         UNITED FIDELITY ANNOUNCES TERMINATION OF SUPERVISORY AGREEMENT

(Evansville, Indiana) Fidelity Federal Bancorp (the "Company") (NASDAQ:FFED),
the holding company of United Fidelity Bank, fsb (the "Bank"), reported that the
Office of Thrift Supervision ("OTS") had terminated the Supervisory Agreement
("Agreement") with the Bank in its entirety.

President and CEO Donald R. Neel noted, "We believe that the termination of the
Agreement by the OTS reflects the continued improvement in financial condition
of the Bank, and is due in large part to the dedication and hard work by the
Board of Directors, management, and staff. We also believe that the termination
of the Agreement should have a positive impact on the perception of the Bank in
the community and will enhance our ability to provide financial services for the
markets in which we operate."

The Company is a unitary savings and loan holding company based in Evansville,
Ind. Its savings bank subsidiary, United Fidelity Bank, fsb, maintains four
locations in Evansville, and one in Warrick County.

Information on FFED is available on the Internet at
http://www.unitedfidelity.com.


This news release contains forward-looking statements that are based upon the
Company's current expectations, but are subject to certain risks and
uncertainties that may cause actual results to differ materially. Among the
risks and uncertainties that could cause actual results to vary materially are
economic conditions generally and in the market areas of the Company and the
Bank, overall loan demand, increased competition in the financial services
industry which could negatively impact the Company's ability to increase total
earning assets, and retention of key personnel. Actions by the Federal Reserve
Board and changes in interest rates, loan prepayments by, and the financial
health of, the Bank's borrowers, and other factors described in the reports
filed by the Company with the Securities and Exchange Commission could also
impact current expectations.