Exhibit 99.5 Press Release
July 20, 1999 For further information contact:
David M. Bradley
Chairman, President and Chief Executive Officer
North Central Bancshares, Inc.
825 Central Avenue PO Box 1237
Fort Dodge, Iowa 50501
NORTH CENTRAL BANCSHARES, INC. ANNOUNCES
SECOND QUARTER 1999 EARNINGS
Fort Dodge, Iowa -- North Central Bancshares, Inc., (the "Company") the holding company for First Federal
Savings Bank of Iowa (the "Bank"), announced today that the Company earned $1,074,000, or diluted earnings
per share of $0.38, for the second quarter of 1999, compared to $1,116,000, or diluted earnings per share of
$0.35, for the second quarter of 1998. The Company earned $2,132,000, or diluted earnings per share of
$0.75, for the six months ended June 30, 1999, compared to $2,222,000, or diluted earnings per share of
$0.69, for the six months ended June 30, 1998.
As of the close of business on January 30, 1998, the Bank completed the acquisition of Valley Financial Corp.
pursuant to an Agreement and Plan of Merger, dated as of September 18, 1997. The acquisition resulted in the
merger of Valley Financial's wholly owned subsidiary, Valley Savings Bank, FSB, with and into the Bank, with
the Bank as the resulting financial institution. Valley Savings, headquartered in Burlington, Iowa, was a federally-
chartered stock savings bank with three branch offices located in southeastern Iowa, with assets of approximately
$110 million. The former offices of Valley Savings are being operated as a division of the Bank.
The acquisition was accounted for as a purchase transaction and therefore, the operating results of the former
offices of Valley Savings Bank are included in the 1998 operating results of the Company only from the date of
acquisition through June 30, 1998. Therefore, the comparison between periods is significantly impacted by this
Stockholders of record on June 16, 1999, received a quarterly cash dividend of $0.10 per share on July 6,