EXHIBIT 99
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                     Press Release Dated September 2, 1997

 
Date:     September 2, 1997

Contact:  Investor Relations Department
          (402) 390-6553


FOR IMMEDIATE RELEASE
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     Omaha, Nebraska (September 2, 1997) - Commercial Federal Corporation today
announced that it has entered into a definitive agreement to acquire Mid
Continent Bancshares, Inc., parent company of Mid-Continent Federal Savings Bank
(Mid-Continent), headquartered in El Dorado, Kansas.  Following the acquisition,
the parties intend that Mid-Continent will be merged with and into Commercial
Federal Bank, a wholly-owned subsidiary of Commercial Federal Corporation.

     Under the terms of the agreement, Commercial Federal will acquire through a
tax-free reorganization all 1,958,250 of the outstanding shares of Mid
Continent's common stock in exchange for Commercial Federal's common stock.  The
precise exchange ratio will be determined based upon the average closing price
of Commercial Federal common stock during a twenty consecutive trading day
period prior to closing.  Based on Commercial Federal's closing price on
September 2, 1997, Mid Continent shareholders would receive .8693 shares of
Commercial Federal common stock.  The transaction has an aggregate value of
approximately $74.9 million, or $38.25 per share.

 
     Mid-Continent operates ten branch offices in Kansas and has assets of
approximately $408.6 million, deposits of approximately $247.0 million and
stockholders' equity of approximately $38.4 million.

     "This acquisition further enhances Commercial Federal's retail franchise
and our future earnings potential in the Kansas markets," said William A.
Fitzgerald, chairman of the board and chief executive officer of Commercial
Federal.  "This transaction will benefit the customers and shareholders of both
institutions."

     This acquisition is subject to regulatory approvals, Mid Continent's
shareholders' approval and other conditions and is expected to close in the
second calendar quarter of 1998.

     Since October 1993, Commercial Federal will have acquired 110 offices and
approximately $2.667 billion in deposits through ten separate acquisitions in
Nebraska, Oklahoma, Kansas, Iowa and Arizona, assuming completion of the
acquisition of Mid Continent Bancshares, Inc. and the acquisition of Liberty
Financial Corporation announced on August 18, 1997.

     Commercial Federal is the parent company of Commercial Federal Bank, which
currently operates 107 branches in Nebraska (34), Colorado (20), Oklahoma (19),
Kansas (27) and Iowa (7).  In addition to retail banking, Commercial Federal
operations include mortgage banking, consumer financing, insurance and stock
brokerage.

     As of June 30, 1997, Commercial Federal has assets of approximately $7.1
billion and deposits of approximately $4.4 billion.  Commercial Federal
Corporation common shares are traded on the New York Stock Exchange under the
symbol "CFB."