EXHIBIT 21






























                                               SUBSIDIARIES OF THE REGISTRANT(1)




      Parent                                 Subsidiary                   Ownership         Organization
      ------                                 ----------                   ---------         ------------
                                                                                          

Midland Capital Holdings             Midland Federal Savings and Loan        100%             Federal
Corporation                          Association




(1)      Upon consummation of the Reorganization.

         The financial  statements of the Registrant will be  consolidated  with
those of its subsidiaries upon completion of the Reorganization.