Rule 424(b) (3)
                                                 Registration No. 333-16645


      Prospectus Supplement To Prospectus dated December 5, 1996.




                        FIDELITY FEDERAL BANCORP



                     10,000 Shares of Common Stock





        McDonald & Company Securities, Inc. ("McDonald") has purchased
in the aggregate 10,000 shares of the Common Stock ("Common Stock") of
Fidelity Federal Bancorp from the following Selling Security Holders:

        Pedcor Investments, a Limited Liability Company       10,000 Shares

        McDonald purchased the Common Stock on January 7, 1997, from
such Selling Security Holder at a net price of $9.375 per share.
McDonald anticipates that it will, from time to time, reoffer the Common
Stock for sale at a price or prices determined by it.  This description
of the particular terms of this sale supplements the description of the
offering set forth in the Prospectus to which this Prospectus Supplement
relates.



                  MCDONALD & COMPANY SECURITIES, INC.





       The date of this Prospectus Supplement is January 7, 1997.