North Central Bancshares, Inc., the holding company for First Federal Savings Bank of Iowa has secured preliminary nod from the U.S. Treasury Department to participate in the Troubled Asset Relief Program (TARP) Capital Purchase Program (CPP) in the amount of $10,200,000.

However, the approval is subject to certain conditions and the execution of definitive agreements.

As of December 31, 2007, it operated through 10 full-service branch offices located in Fort Dodge, Nevada, Ames, Perry, Ankeny, Clive, West Des Moines, Burlington, and Mount Pleasant, Iowa.

The scrip of the company slipped 1per cent to $11.01 at the close of Friday's trading with over 150 shares changing hands on the Nasdaq.