Press Release                           EXHIBIT 1
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LOS ANGELES, March 29 -- Bank Plus Corporation (Nasdaq: BPLS - news; Bank Plus 
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or the Corporation), and its subsidiaries (the Company), which include Fidelity
Federal Bank, FSB (Fidelity or the "Bank"), today reported the withdrawal of
notices by two stockholders of their intent to nominate directors and propose
resolutions at the 1999 annual meeting of stockholders of Bank Plus (the "1999
Annual Meeting"). In connection with these withdrawals, Bank Plus has executed
separate agreements with each of these stockholders. One of these agreements is
with entities affiliated with Hovde Financial, Inc. (collectively, the "Hovde
Persons"). The other is with La Salle Financial Partners, L.P. and certain of
its affiliates (the "La Salle Group"). Copies of these agreements will be filed
with the Company's Form 8K.

Under these agreements, (i) Bank Plus has appointed Irving Beimler as a director
on the Bank Plus Board for a term expiring at the annual meeting of stockholders
in the year 2000, subject to the non-objection of the Office of Thrift
Supervision (the "OTS"); and (ii) Bank Plus amended its Bylaws to, among other
things, provide that three or more unaffiliated holders of 20% of Bank Plus'
outstanding common stock may call a special meeting of stockholders and that
directors of the Company will be elected by a plurality, rather than a majority,
vote of voting shares present or represented at a meeting of stockholders.

In return, the Hovde Persons agreed they would not: (i) call a special meeting
of stockholders or participate in any solicitation of proxies to vote Bank Plus
securities; (ii) otherwise seek to control the management, Board or policies of
Bank Plus; or (iii) prior to October 31, 1999, seek any amendment of their
Rebuttal Agreement with the OTS or submit any filing for a change in control of
Bank Plus (a "Control Action").  In addition, the Hovde Persons agreed: (a) to
vote for the director nominees proposed by the Board at the 1999 Annual Meeting;
and (b) to withdraw their OTS change in control application.  The agreement
terminates on the earliest to occur of (x) the taking of a Control Action by any
of the Hovde Persons after October 31, 1999; (y) the failure of Mr. Beimler or
any substitute nominee to be approved by the OTS as a director on or before June
24, 1999 or August 24, 1999, respectively; or (z) April 28, 2000.  Upon the
termination or breach of the agreement by the Hovde Persons, Mr. Beimler (or a
substitute nominee, if applicable) will resign from the Board.

Under the agreement with the La Salle Group, the La Salle Group agreed, among
other things, they would not: (i) call a special meeting of stockholders or
participate in any solicitation of proxies to vote Bank Plus securities; or (ii)
otherwise seek to control the management, Board or policies of Bank Plus.  The
La Salle Group also agreed to vote for the director nominees proposed by the
Board at the 1999 Annual Meeting.  The agreement terminates on the latest to
occur of (a) October 31, 1999; or (b) the end of the first term of office of Mr.
Beimler as a director (or a substitute nominee, if applicable).

Irving R. Beimler is currently Senior Vice President of Hovde Capital, Inc.
where he is responsible for the identification and placement of investment and
merchant banking funds.  Prior to joining Hovde Capital, Mr. Beimler has held
senior management positions with a number of financial institutions including
serving as Executive Vice President and Chief Credit Officer for Fleet Bank of
New York and Riggs National Corporation.

Bank Plus Corporation is the holding company for Fidelity Federal Bank, FSB,
which offers a broad range of consumer financial services, including demand and
time deposits and mortgage loans.  In addition, through its affiliate Gateway
Investment Services, Inc., a NASD-registered broker/dealer, Fidelity provides
customers of the Bank with investment products, including mutual funds,
annuities and insurance.  Fidelity operates through 38 full-service branches, 37
of which are located in Southern California, principally in Los Angeles and
Orange counties.


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