EXHIBIT 99.1






Mid Continent Bancshares, Inc.       Contact:     Richard T. Pottorff, President
El Dorado, Kansas                                (316) 321-2700

                              For Immediate Release

                                September 2, 1997

                         MID CONTINENT BANCSHARES, INC.
                            APPROVES MERGER AGREEMENT

         El Dorado,  Kansas --  September 2, 1997 -- Mid  Continent  Bancshares,
Inc. (Nasdaq National Market:  MCBS) ("Mid Continent")  announced that its Board
of Directors has approved the definitive  agreement  negotiated  with Commercial
Federal  Corporation,  Omaha,  Nebraska (NYSE:  CFB)  ("Commercial  Federal") to
acquire Mid Continent.

         Under  terms  of the  agreement,  each  share  of  common  stock of Mid
Continent  will be  converted  into the right to  receive  $38.25 in  Commercial
Federal  common  stock  subject  to  adjustment  based on the  trading  price of
Commercial Federal common stock. The transaction is expected to close during the
second quarter of 1998, subject to approval by the shareholders of Mid Continent
and the appropriate regulatory authorities,  as well as various other conditions
of closing.

         Richard  T.  Pottorff,  President  and Chief  Executive  Officer of Mid
Continent stated, "We feel this merger is a unique opportunity for Mid Continent
stockholders  and  customers.  We chose to  associate  with  Commercial  Federal
because of their dedication to the communities they serve, their customers,  and
their employees."

         Mid Continent is the parent company for  Mid-Continent  Federal Savings
Bank (the "Bank'), a federally chartered stock savings association headquartered
in El Dorado,  Kansas.  The Bank's  deposits are insured by the Federal  Deposit
Insurance Corporation ("FDIC"). The Bank is a community-oriented, retail savings
institution  offering  traditional  mortgage and various consumer loan products,
primarily in Butler, Cowley, Sedgwick and Harvey Counties, Kansas.

         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  had  assets  of
approximately $7.1 billion and deposit of approximately $4.4 billion.