EXHIBIT (a)(1)(iii)



                         NOTICE OF GUARANTEED DELIVERY

                          OF SHARES OF COMMON STOCK OF

                              CHESTER BANCORP, INC.



             PURSUANT TO THE OFFER TO PURCHASE DATED APRIL 11, 2003



This Notice of Guaranteed Delivery, or one substantially in the form hereof,
must be used to accept the Offer (as defined below) if:

         -        certificates evidencing shares of Common Stock, $.01 par value
                  per share, (the "Shares") of Chester Bancorp, Inc., a Delaware
                  corporation ("Chester Bancorp"), are not immediately available
                  or cannot be delivered to Chester Bancorp, Inc. (the
                  "Depositary") prior to the expiration date, or

         -        time will not permit all required documents, including a
                  properly completed and duly executed Letter of Transmittal (or
                  a manually signed facsimile of the Letter of Transmittal) and
                  any other required documents, to reach the Depositary prior to
                  the expiration date (as defined in the Offer to Purchase).

The Offer to Purchase and the related Letter of Transmittal, as amended or
supplemented from time to time, together constitute the "Offer."

TO:      Chester Bancorp, Inc.

BY MAIL, HAND OR OVERNIGHT DELIVERY:
                  Chester Bancorp, Inc.
                  1112 State Street
                  Chester, Illinois 62233

BY FACSIMILE TRANSMISSION:
                  Chester Bancorp, Inc.
                  Attention:  Michael W. Welge
                  (618) 826-2142

CONFIRM BY TELEPHONE: (800) 851-5371 ext. 301

This Notice of Guaranteed Delivery, properly completed and duly executed, may be
delivered by hand, mail, overnight courier or facsimile transmission to the
Depositary.

For this notice to be validly delivered, it must be received by the Depositary
at one of the above addresses before the Offer expires. Delivery of this notice
to another address will not constitute a valid delivery.

This form is not to be used to guarantee signatures. If a signature on a Letter
of Transmittal is required to be guaranteed by an Eligible Institution (as
defined in the Letter of Transmittal) under the instructions to the Letter of
Transmittal, such signature guarantee must appear in the applicable space
provided in the signature box on the Letter of Transmittal.

By signing this Notice of Guaranteed Delivery, you tender to Chester Bancorp at
the Purchase Price of $22.00 per share, upon the terms and subject to the
conditions described in the Offer to Purchase and the related Letter of










Transmittal, receipt of which you hereby acknowledge, the number of shares
specified below pursuant to the guaranteed delivery procedure described in the
Offer to Purchase.

You hereby tender to Chester Bancorp, upon the terms and subject to the
conditions set forth in the Offer to Purchase and the related Letter of
Transmittal, receipt of which is hereby acknowledged, the number of shares of
Common Stock of Chester Bancorp listed below, pursuant to the guaranteed
delivery procedure set forth in the Offer to Purchase.

NUMBER OF SHARES TENDERED:
                           --------------------------------


SIGNATURES

Signatures:


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Name(s) of Record Holders(s):
                              --------------------------------------------------
                                                (please type or print)

Certificate Nos.:
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Address:
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                                       (Include Zip Code)

Daytime Area Code and Telephone Number:
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Date:
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If Shares will be delivered by book-entry transfer, provide the Account Number.

Account Number:
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                              GUARANTEE OF DELIVERY

                    (Not to be Used for Signature Guarantee)


The undersigned, a bank, broker dealer, credit union, savings association or
other entity that is a member in good standing of the Securities Transfer Agents
Medallion Program or a bank, broker, dealer, credit union, savings association
or other entity which is an "eligible guarantor institution," as that term is
defined in Rule 17Ad-15 promulgated under the Securities Exchange Act of 1934,
as amended, (each of the foregoing constituting an ("Eligible Institution"),
guarantees delivery to the Depositary of the Shares tendered, in proper form for
transfer, in each case together with a properly completed and duly executed
Letter(s) of Transmittal (or a facsimile(s) thereof), and any other required
documents, all within three trading days after the date of receipt by the
Depositary of this Notice of Guaranteed Delivery.

The Eligible Institution that completes this form must communicate the guarantee
to the Depositary and must deliver the Letter of Transmittal and certificates
for Shares to the Depositary within the time set forth above. Failure to do so
could result in a financial loss to such Eligible Institution.

Name of Firm:
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Authorized Signature:
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Name:
     -------------------------------------------------------
                             (Please Print)

Title:
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Address:
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Areas Code(s) and Telephone Number(s):
                                      ----------------------

Dated:                        , 2003
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NOTE: DO NOT SEND SHARE CERTIFICATES WITH THIS FORM. SHARE CERTIFICATES SHOULD
BE SENT WITH THE LETTER OF TRANSMITTAL.




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