PRESS RELEASE                                                  FEBRUARY 20, 2007


                   FIRST FEDERAL BANCSHARES, INC. SHAREHOLDERS
               APPROVE PENDING MERGER WITH HEARTLAND BANCORP, INC.

         COLCHESTER, ILLINOIS - FIRST FEDERAL BANCSHARES, INC. (NASDAQ: FFBI)
announced today that its shareholders approved the pending merger with Heartland
Bancorp, Inc., at a meeting held February 16, 2007. Heartland Bancorp has
received all necessary regulatory approvals and the merger is expected to close
on or about February 28, 2007.

         First Federal Bancshares, Inc. is headquartered in Colchester, Illinois
with four additional full-service west-central Illinois branches located in
Quincy (2), Macomb, and Bushnell, and three additional full-service northeastern
Missouri branches located in Palmyra, Canton, and Kahoka.

         This release contains certain forward-looking statements about the
proposed merger of Heartland Bancorp and First Federal Bancshares, which are
subject to numerous assumptions, risks and uncertainties. These statements
include statements regarding the anticipated closing date of the transaction.
Forward-looking statements can be identified by the fact that they do not relate
strictly to historical or current facts and often include words like "believe,"
"expect," "anticipate," "estimate," and "intend" or future or conditional verbs
such as "will," "would," "should," "could" or "may." Actual results could differ
materially from those contained or implied by such statements for a variety of
factors including: delays in completing the merger, increased competitive
pressures, changes in the interest rate environment, changes in general economic
conditions, legislative and regulatory changes that adversely affect the
business in which Heartland Bancorp and First Federal Bancshares are engaged,
and changes in the securities markets. All forward-looking statements included
in this release are based on information available at the time of the release.
First Federal Bancshares does not assume any obligation to update any
forward-looking statement.


CONTACT:
James J. Stebor
President and Chief Executive Officer
(309) 776-3225