Mortgage Investment Trust Corp – ‘SC 13D/A’ on 3/11/99 re: Ifb Holdings Inc

As of:  Thursday, 3/11/99   ·   Accession #:  1023857-99-2   ·   File #:  5-50027

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Amendment to General Statement of Beneficial Ownership   —   Schedule 13D
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: SC 13D/A    Amendment to General Statement of Beneficial           6±    27K 
                          Ownership                                              

Document Table of Contents

UNITED STATES               
SECURITIES AND EXCHANGE COMMISSION                
Washington, D.C.  20549               

SCHEDULE 13D/A              

Under the Securities Exchange Act of 1934               
(Amendment No. 3)                 
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IFB Holdings, Inc.              
(Name of Issuer)              
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Common Stock  par value $.01 per share            
(Title of Class of Securities)                
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448953-10-9                 
(CUSIP Number)                
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Lindsay Olsen               
5200 West 94th Terrace, Prairie Village, KS  66207                
(913) 648-8010                
(Name, Address and Telephone Number of Person Authorized to               
Receive Notices and Communications)               

March 8, 1999               
(Date of Event which Requires Filing of this Statement)               

If the filing person has previously filed a statement on Schedule               
13G  to  report  the  acquisition which is the  subject  of  this               
Schedule  13D, and is filing this schedule because of Rule  13d-1               
(b) (3) or (4), check the following box [ ].                                    

Note:   Six  copies  of this statement, including  all  exhibits,               
should  be  filed with the Commission.  See Rule  13d-1  (a)  for               
other parties to whom copies are to be sent.                                    

*  The  remainder of this cover page shall be filled  out  for  a               
reporting  persons initial filing  on this form with  respect  to               
the subject class of securities, and for any subsequent amendment               
containing information which would alter disclosures provided  in               
a prior cover page.                                                             

The  information  required on the remainder of  this  cover  page               
shall  not be deemed to  be filed  for the purpose of Section  18               
of  the  Securities  Exchange  Act of  1934  (Act)  or  otherwise               
subject  to the liabilities of that section of the Act but  shall               
be  subject to all other provisions of the Act (however, see  the               
Notes).                                                                         

SCHEDULE 13D/A                                                                  
---------------------------             ------------------------                
CUSIP NO. 448953-10-9                        Page 2 of 7 Pages                  
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1    NAME OF REPORTING PERSON                                                   
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON                     
Mortgage Investment Trust Corporation                           
48-1101989                                                      
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2    CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP *(a)  ( )                 
                                      (b)  (X)
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3    SEC USE ONLY                                                               
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4    SOURCE OF FUNDS *                                                          
BK, WC                                                                
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5     CHECK  BOX  IF DISCLOSURE OF LEGAL PROCEEDINGS IS  REQUIRED               
PURSUANT TO ITEMS 2(d)( ) OR 2(e)( )                                            
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6    CITIZENSHIP OR PLACE OF ORGANIZATION                                       
KANSAS                                                                
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NUMBER OF      7    SOLE VOTING POWER                                           
SHARES              67,000                                                      
--------------------------------------------------
--------------------------------------------------
BENEFICIALLY   8    SHARED VOTING POWER                                         
OWNED BY            NONE                                                        
--------------------------------------------------
--------------------------------------------------
EACH           9    SOLE DISPOSITIVE POWER                                      
REPORTING           67,000                                                      
--------------------------------------------------
--------------------------------------------------
PERSON         10   SHARED DISPOSITIVE POWER                                    
WITH                NONE                                                        
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11   AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON               
67,000                                                                
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12    CHECK  BOX  IF  THE AGGREGATE AMOUNT IN ROW  (11)  EXCLUDES               
CERTAIN SHARES                                                                  

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13   PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)                         
14.13%                                                                
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14   TYPE OF REPORTING PERSON                                                   
CO                                                                    
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* SEE INSTRUCTION BEFORE FILLING OUT!                                           
INCLUDE  BOTH  SIDES OF THE COVER PAGE, RESPONSES  TO  ITEMS  1-7               
(INCLUDING   EXHIBITS)  OF  THE  SCHEDULE,  AND   THE   SIGNATURE               
ATTESTATION                                                                     

SCHEDULE 13D/A                                                                  
---------------------------             --------------------------              
CUSIP NO. 448953-10-9                        Page 3 of 7 Pages                  
---------------------------             --------------------------              

Item 1.  Security and Issuer                                                    

This  statement relates to the Common Stock,  par value  $.01 per               
share  (the  "Common  Stock" or "stock")  issued by IFB Holdings,               
Inc.  whose  principal  executive  offices  are  located  at  522               
Washington Street, Chillicothe, Missouri, 64601.                                

Item 2.  Identity and Background                                                

This statement is filed by Mortgage Investment Trust Corporation,               
a  Kansas Corporation (MITC).  Lindsay Olsen and Steven  B. Chase               
are  the  controlling  shareholders  of  MITC.  The directors and               
officers of  MITC are  Lindsay Olsen (President and Director) and               
Steven B. Chase (Secretary and Director).                                       

The  information  required  by General  Instruction C and by Item               
2 to Schedule 13D with respect to each of the above named persons               
is attached to this  statement as Exhibits 1A  through 1C, and is               
incorporated herein by reference.                                               

Item 3.  Source and Amount of Funds or Other Consideration                      

As  of  this date, Mortgage  Investment  Trust  Corporation  owns               
67,000  shares of  stock, all  of which  were  purchased  in open               
market transactions.This Schedule 13D/A is the third amendment to               
the original Schedule 13D which was filed by the reporting person               
dated  October 2, 1996.   This Schedule 13D/A  is being  filed to               
reflect  the acquisition  of additional  shares  in  open  market               
transactions.                                                                   

MITC purchased the Common Stock with internal funds and resources               
drawn  from  a term  loan negotiated  in the  ordinary course  of               
business with an unaffiliated bank, as defined in Section 3(a)(6)               
of the Securities Exchange Act of 1934.                                         

Item 4.  Purpose of Transaction                                                 

MITC  has  purchased the stock for investment purposes and may or               
may not  acquire additional  stock for investment.  MITC reserves               
the right  to change the  purpose of  this  transaction, provided               
that it remains in compliance with all federal and state laws.                  

MITC intends  to continually  assess  the  market for  the Common               
Stock.  MITC or  an affiliate may  purchase  additional shares or               
dispose of  such shares  of the  Common  Stock  from time to time               
depending on such continuing assessment However, it is recognized               
that if,  in the future,  certain  levels  of share ownership are               
exceeded, certain regulatory approvals may be required.                         

(b-j)  None                                                                     

SCHEDULE 13D/A                                                                  
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CUSIP NO. 448953-10-9                        Page 4 of 7 Pages                  
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Item 5.  Interest in Securities of the Issuer                                   

(a) MITC  has purchased a total of 67,000  shares of Common Stock,              
which represents  approximately   14.13%   of  the  474,019 total               
shares outstanding.                                                             

(b)   MITC  beneficially owns 67,000 shares of  the  Common Stock               
and has the sole power to vote and dispose of such shares.                      

(c)   All transactions  in the  shares of  Common  Stock effected               
by  MITC  during the past  sixty days are  described on Exhibit 2               
attached hereto.  All such shares were purchased through a broker-              
dealer.                                                                         

(d-e)  Not applicable.                                                          

Item 6.  Contracts, Arrangements, Understandings or Relationships               
with Respect to Securities of the Issuer.                                       

MITC  is  under the control of Lindsay Olsen and Steven  B. Chase.              
See Item 2. above.                                                              

Item 7.  Material to be Filed as Exhibits.                                      

Exhibit  2 - Transactions in the Common Stock effected during the               
past sixty days.                                                                

After  reasonable  inquiry  and  to  the best of my knowledge and               
belief,  I  certify  that  the  information  set  forth  in  this               
statement is true, complete and correct.                                        

MORTGAGE INVESTMENT     
TRUST CORPORATION       

Date:  March 9, 1999        By:/s/Lindsay Olsen                                 
   -------------------------
   Lindsay Olsen, President of
             Mortgage Investment Trust Corporation

EXHIBIT INDEX                                                                   

Exhibit No.                                                                     
---------------                                                                 
Exhibit 1A                                                                      
Exhibit 1B                                                                      
Exhibit 1C                                                                      
Exhibit 2                                                                       
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SCHEDULE 13D/A                                                                  
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CUSIP NO. 448953-10-9                        Page 6 of 7 Pages                  
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Exhibit 1A                

INFORMATION RELATING TO REPORTING PERSONS.                                      

MORTGAGE INVESTMENT TRUST CORPORATION                                           

State or Other Place of Organization: Kansas                                    

Principal Business:                   Investment in mortgage                    
                      loans, real estate, stocks
                   and financial services.

Address of Principal Business:        5200 West 94th Terrace                    
                      Prairie Village, KS  66207

Address of Principal Office:          5200 West 94th Terrace                    
                      Prairie Village, KS  66207

Criminal Proceedings During the Last 5 Years:           None                    

Civil Proceedings During the Last 5 Years:                      None            

Exhibit 1B                

LINDSAY OLSEN  (Director and President of Mortgage Investment                   
Trust Corporation and a controlling shareholder of Mortgage                     
Investment Trust Corporation)                                                   

Residence or Business Address:          5200 West 94th Terrace                  
                         Prairie Village, KS 66207

Principal Occupation or Employment:     Management and Investment               
        Analysis

Name of Employer:                       Mortgage Investment Trust               
           Corporation

Principal Business:                     Investments and Financial               
        Services

Address:                                5200 West 94th Terrace                  
                         Prairie Village, KS 66207

Criminal Proceedings During the Last 5 Years:           None                    

Civil Proceedings During the Last 5 Years:              None                    

Citizenship:                                            U.S.A.                  

SCHEDULE 13D/A                                                                  
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CUSIP NO. 448953-10-9                        Page 7 of 7 Pages                  
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Exhibit 1C              

STEVEN B. CHASE  (Director and Secretary of Mortgage Investment                 
Trust Corporation and a controlling shareholder of Mortgage                     
Investment Trust Corporation)                                                   

Residence or Business Address:          5200 West 94th Terrace                  
                         Prairie Village, KS 66207

Principal Occupation or Employment:     Management and Investment               
        Analysis

Name of Employer:                       Mortgage Investment Trust               
           Corporation

Principal Business:                     Investments and Financial               
        Services

Address:                                5200 West 94th Terrace                  
                          Prairie Village, KS  66207

Criminal Proceedings During the Last 5 Years:            None                   

Civil Proceedings During the Last 5 Years:               None                   

Citizenship:                                             U.S.A.                 

Exhibit 2                       

MORTGAGE INVESTMENT TRUST CORPORATION                           

Description of Transactions Effected within 60 days                             

The reporting person effected the following purchases in the                    
Shares within 60 days of March 8, 1999.                                         

Number of      Price Per    
Date of Purchase  Source  Shares         Share                                  
                                                             (excl. commissions)
________________  ______  _______        _______                                

1/20/99            OTC     2,400         14.00                                  
2/9/99             OTC     3,000         14.00                                  
3/8/99             OTC     3,000         13.625                                 

Dates Referenced Herein   and   Documents Incorporated by Reference

This ‘SC 13D/A’ Filing		Date		Other Filings
Filed on:		3/11/99
		3/9/99
		3/8/99
		10/2/96		SC 13D
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