Letterhead of
                       SPILSBURY, HAMILTON, LEGENDRE & PACIERA
                             CERTIFIED PUBLIC ACCOUNTANTS


                                                                January 30, 1997




Securities and Exchange Commission
450 5th Street, N.W.
Washington, D.C.  20549

Gentlemen:

We have received a copy of the disclosures that GS Financial Corp., Inc. and
Guaranty Savings and Homestead Association are including in the change in
auditors section of the proposed prospectus for the conversion of the Homestead
to a stock association.  We agree with the following statements as they relate
to our relationship with Guaranty Savings and Homestead Association during the
years 1993 and 1994:

1.  We did not have any disagreements with the Association on any matter
    of accounting principles or practices, financial statement disclosure,
    or auditing scope or procedure.

2.  We did not issue any adverse opinion with respect to the Association's
    financial statements or any disclaimer of opinion or any opinion which
    was qualified or modified as to uncertainty, audit scope or accounting
    principles.

We hereby consent to the filing of this letter as an exhibit to the registration
statement being filed by GS Financial Corp, Inc. with the Securities and
Exchange Commission and as an exhibit to the application for conversion being
filed by Guaranty Savings and Homestead Association with the Office of Thrift
Supervision and the Office of Financial Institutions.

                             Sincerely,


                        /S/ Spilsbury, Hamilton, Legendre & Paciera
                        -------------------------------------------
                        SPILSBURY, HAMILTON, LEGENDRE & PACIERA
                             Certified Public Accountants