Exhibit 99.1      Press Release






PRESS RELEASE
May 24, 2002                 For further information contact:
                                   David M. Bradley
                                   Chairman, President & Chief Executive Officer
                                   North Central Bancshares, Inc.
                                   825 Central Avenue
                                   Fort Dodge, Iowa 50501
                                   515-576-7531

         NORTH CENTRAL BANCSHARES, INC. DECLARES DIVIDEND

David M. Bradley, Chairman, President and Chief Executive Officer of North
Central Bancshares, Inc. (the "Company") announced today that the Company
declared a regular quarterly cash dividend of $0.18 per share on the Company's
common stock for the fiscal quarter ended June 30, 2002. The dividend will be
payable to all stockholders of record as of June 17, 2002 and will be paid on
July 5, 2002.

North Central Bancshares, Inc. serves north central and southeastern Iowa at 9
full service locations in Fort Dodge, Nevada, Ames, Burlington, Mount Pleasant,
Perry and Ankeny, Iowa through its wholly-owned subsidiary, First Federal
Savings Bank of Iowa, headquartered in Fort Dodge, Iowa. The Bank's deposits are
insured by the Federal Deposit Insurance Corporation. The Company's stock is
traded on The Nasdaq National Market under the symbol "FFFD".