Exhibit 10.3.4



                  AMENDMENT NO. THREE TO EMPLOYMENT AGREEMENT


     Amendment No. Three, dated as of ______________, 1997, to Employment
Agreement, dated as of March 1, 1994, amended by Amendment No. One dated as of
April 1, 1994, and Amendment No. Two dated as of November 7, 1995, between
NORWALK SAVINGS SOCIETY, a capital stock savings bank organized and existing
under the laws of the State of Connecticut with headquarters located in Norwalk,
Connecticut (the "Bank"), and JERE T. DORNEY of Wilton, Connecticut
("Executive").

                                   RECITALS


     WHEREAS, the Bank and the Executive mutually desire to amend the Employment
Agreement.

     NOW THEREFORE, the parties agree as follows:

     1.   Section 1 of the Agreement shall be amended to provide that the term
of employment shall be extended to March 1, 2001, unless subsequently extended
or sooner terminated as provided in the Agreement.

     2.   This Agreement may be executed in one or more counterparts, all of
which taken together shall constitute one and the same instrument.

     3.   This Amendment No. Three to Employment Agreement shall be construed
pursuant to and in accordance with the laws of the State of Connecticut. The
Agreement shall otherwise remain in full force and effect as originally written,
except that the Change of Control provisions of Section 11 have been and are
superseded by a separate agreement regarding change of control between the
Executive and the Bank.

     IN WITNESS WHEREOF, the parties have executed this Amendment No. Three to
Employment Agreement on the date first above written.

                         NORWALK SAVINGS SOCIETY


                         By 
                            ----------------------------------
                            Chairman of the Board of Directors


                         EXECUTIVE


                            ----------------------------------
                            Jere T. Dorney