EXHIBIT 99.(f)(2)





                                  PRESS RELEASE



Contact: Robert L. Savage, President and CEO
Phone:   (307) 532-2111 
For immediate release October 20, 1998

                       Tri-County Bancorp, Inc. Announces
                    Share Repurchase Of Up To 313,000 Shares

           Torrington,  Wyoming,  October 20, 1998 -- Tri-County  Bancorp,  Inc.
(Nasdaq  SmallCap  Market  under the  symbol  "TRIC"),  the  holding  company of
Tri-County  Federal  Savings  Bank (the  "Bank")  commenced  a  "Modified  Dutch
Auction"  self-tender offer on October 20, 1998 for up to 313,000 common shares,
or  approximately  26.8  percent,  of  its  1,167,498  common  shares  currently
outstanding.

          The offer will allow common  shareholders  to specify  prices at which
they are willing to tender  their  shares at a price not greater than $14.00 and
not less than $11.00 per share. After receiving tenders, the Company will select
a single per share  price which will allow it to buy up to 313,000  shares.  All
shares purchased will be purchased at the company-selected  price for cash, even
if tendered at a lower price.  If more than the maximum  number of shares sought
is  tendered  at or below the  company-selected  price,  tendering  shareholders
owning  fewer than 100 shares  will have their  shares  purchased  without  pro-
ration.  Other shares will be purchased pro rata. The offer is conditioned upon,
among other things,  the Company obtaining the funds necessary to consummate the
offer and to pay all related fees and expenses.  The offer is not conditioned on
a minimum number of shares being tendered.

           The tender offer,  proration period and withdrawal rights will expire
at 5:00 p.m. on Thursday,  November 19, 1998,  unless  extended.  On October 13,
1998,  the  last  full  trading  day in the  Nasdaq  market  on which a sale was
reported  prior to the  commencement  of the offer,  the closing per share sales
price of the Company's common stock was $11.25.

          Keefe, Bruyette &  Woods,  Inc. will  act  as  deal  manager  and  the
information agent for the offer.

          Shareholders will, in general,  be able to tender their shares free of
all brokerage  commissions  and stock transfer taxes, if any, which will be paid
by the Company.  Each  shareholder is urged to consult his tax advisor as to the
particular tax  consequences of the tender offer to such  shareholder.  The full
details of the offer,  including  complete  instructions  on the tender  process
procedure  along with the  transmittal  forms and other data is being  mailed to
shareholders commencing October 23, 1998.

          NEITHER   THE   COMPANY   NOR  ITS  BOARD  OF   DIRECTORS   MAKES  ANY
RECOMMENDATION  TO ANY  SHAREHOLDER  AS TO  WHETHER  TO TENDER OR  REFRAIN  FROM
TENDERING  ANY OR ALL OF SUCH  SHAREHOLDER's  SHARES  IN THE  OFFER  AND HAS NOT
AUTHORIZED ANY PERSON TO MAKE ANY SUCH RECOMMENDATION.

          This  announcement  is neither an offer to purchase nor a solicitation
of an offer to sell shares of Tri-County  Bancorp,  Inc. common stock. The offer
is made solely by the Offer to Purchase, dated October 23, 1998, and the related
Letter of Transmittal.

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