COMMON STOCK
NUMBER ___                                          ___ SHARES
                        HIGH COUNTRY BANCORP, INC.

      INCORPORATED UNDER THE LAWS OF THE STATE OF COLORADO

                                               CUSIP 42965Q 10 7 
This certifies that 


is the owner of

FULLY PAID AND NONASSESSABLE SHARES OF COMMON STOCK, PAR VALUE
$0.01 PER SHARE, OF

High Country Bancorp, inc. (the "Corporation"), a Colorado
corporation.  The shares represented by this certificate are
transferable only on the stock transfer books of the Corporation
by the holder of record hereof, in person or by duly authorized
attorney or legal representative, upon the surrender of this
certificate property endorsed.  This certificate is not valid
until countersigned and registered by the Corporation's transfer
agent and registrar.

IN WITNESS WHEREOF, the Corporation has caused this certificate
to be executed by the facsimile signatures of its duly authorized
officers and has caused a facsimile of its corporate seal to be
hereunto affixed.

Dated:

/s/ Richard A. Young                       /s/ Larry D. Smith
____________________________               _____________________
Richard A. Young                            Larry D. Smith
Secretary                                   President and Chief
                                            Executive Officer

Countersigned and Registered:
   

                            By: _____________________________
                                 Transfer Agent and Registrar

                                _____________________________
                                 Authorized Signature

                      [CORPORATE SEAL]


                  RESTRICTIONS ON TRANSFER
The Articles of Incorporation include a provision which prohibits
any person from directly or indirectly acquiring or offering to
acquire the beneficial ownership of more than 10% of any class of
equity security of the Corporation.  Such provision eliminates
the voting rights of securities acquired in violation of the
provision.  Such provision will expire five years from the
effective date of completion of the conversion of Salida Building
and Loan Association, Salida, Colorado (the "Association") from
mutual to stock form.  The Articles of Incorporation also impose
certain restrictions on the voting rights of beneficial owners of
more than 10% of any class of equity security of the Corporation
after five years from the completion of the conversion of the
Association from mutual to stock form.  The Corporation will
furnish without charge to each stockholder who so requests
additional information with respect to such restrictions.  Such
request may be made in writing to the Secretary of the
Corporation.



     The shares represented by this certificate are issued
subject to all the provisions of the Articles of Incorporation
and Bylaws of the Corporation as from time to time amended
(copies of which are on file at the principal executive office of
the Corporation), to all of which the holder by acceptance hereof
assents.

     The Corporation will furnish without charge to each
stockholder who so requests, the powers, designations,
preferences and relative, participating, optional or other
special rights of each class of stock or series thereof and the
qualifications, limitations or restrictions of such preferences
and/or rights.  Such requests shall be made in writing to the
Secretary of the Corporation.

     The following abbreviations, when used in the inscription on
the face of this Certificate, shall be construed as though they
were written out in full according to applicable laws or
regulations:

TEN COM -     as tenants in common
TEN ENT -     as tenants by the entireties
JT TEN  -     as joint tenants with right of survivorship and not
              as tenants in common
UNIF TRANSFER MIN ACT - ..........Custodian.......... under 
                          (Cust)              (Minor)
Uniform Transfers to Minors Act.......................
                                       (State)
     Additional abbreviations may also be used though not in the
above list.

NOTE:  THE SIGNATURE TO THIS ASSIGNMENT MUST CORRESPOND WITH THE
NAME OF THE STOCKHOLDER(S) AS WRITTEN UPON THE FACE OF THE
CERTIFICATE IN EVERY PARTICULAR, WITHOUT ALTERATION OR
ENLARGEMENT OR ANY CHANGE WHATEVER. 

     FOR VALUE RECEIVED, _______________________________ HEREBY
SELL, ASSIGN AND TRANSFER UNTO

PLEASE INSERT SOCIAL SECURITY OR OTHER
  IDENTIFYING NUMBER OF ASSIGNEE
 ________________________________
/_______________________________/
_________________________________________________________________
(PLEASE PRINT OR TYPEWRITE NAME AND ADDRESS, INCLUDING ZIP CODE,
OF ASSIGNEE)
_________________________________________________________________
__________________________________________________________ Shares
of the common stock evidenced by this certificate, and do hereby
irrevocably constitute and appoint ____________________________,
Attorney, to transfer the said shares on the books of the
Corporation, with full power of substitution.


Dated _______________________     _____________________________
                                  Signature

                                  _____________________________
                                  Signature

In presence of: ___________________________