EXHIBIT 99.1




PRESS RELEASE                                           FOR IMMEDIATE RELEASE

Contact:                                                    Stephen E. Wessel
                                                               (504) 457-6220



          GS FINANCIAL CORP. ANNOUNCES NAME CHANGE OF ITS SUBSIDIARY

     Metairie, Louisiana - (June 16, 2006) - Stephen E. Wessel, President & CEO
of GS Financial Corp. (the "Company") (Nasdaq/NMS: GSLA) and its subsidiary,
Guaranty Savings and Homestead Association (the "Association"), announced that,
after 69 years of operating under the name of Guaranty Savings and Homestead
Association, the name of its wholly owned subsidiary was officially changed to
Guaranty Savings Bank (the "Bank"), effective June 15, 2006.

     Mr. Wessel stated that, while the Bank will continue to operate as a
Louisiana chartered savings association, the name change was part of a
marketing strategy to promote the expansion of our product line and services
beyond that of the traditional savings and loan institution.  Guaranty Savings
Bank remains committed to providing community banking services in the
metropolitan New Orleans area.