AGREEMENT FOR THE PURCHASE AND SALE OF 169,989 SHARES OF THE
                  774,277 OUTSTANDING SHARES OF COMMON STOCK OF
             FIRST SAVINGS & LOAN ASSOCIATION OF SOUTH DAKOTA, INC.

     THIS  AGREEMENT,  entered into as of the 18th day of August,  1997,  by and
between Spectrum Bancorporation, Inc., a Delaware corporation, (the "Buyer") and
World Services,  Inc., a South Dakota  corporation  (hereinafter  referred to as
"Seller"),  which owns 169,989  shares of common  stock of First  Savings & Loan
Association of South Dakota, Inc., Aberdeen, South Dakota ("First Savings"):

                              W I T N E S S E T H:

     WHEREAS,  the Buyer  desires to purchase and the Seller  desires to sell to
the Buyer,  upon the terms,  provisions  and conditions  hereinafter  set forth,
169,989 shares of the First Savings common stock owned by Seller:

     NOW, THEREFORE, IT IS HEREBY AGREED AS FOLLOWS:

     1. Parties'  Representatives.  The "Seller's Representative" shall be Ronne
Tarrell.  Seller by its  execution of this  Agreement,  authorizes  the Seller's
Representative  to  take  such  action  on  behalf  of  Seller  as the  Seller's
Representative  is herein  authorized to take or as the Seller's  Representative
may deem  necessary or advisable in order to carry out the purpose and intent of
this Agreement.  The "Buyer's  Representative" shall be Deryl F. Hamann, so long
as he is able and  willing  to act,  and if he is not able and  willing  to act,
shall be Jeffory A. Erickson. Buyer, by execution of this Agreement,  authorizes
the  Buyer's  Representative  to take such  action on behalf of the Buyer as the
Buyer's   Representative  is  herein  authorized  to  take  or  as  the  Buyer's
Representative may deem necessary or advisable in order to carry out the purpose
and intent of this Agreement.

     2. Time and Place of  Closing.  The place of  closing  shall be at the main
banking  office of F & M Bank in Watertown,  South Dakota.  The date and time of
closing  shall be at the date and time  selected  by the  Buyer no more than ten
days after Buyer shall have received  approval from the Federal  Reserve Bank of
Minneapolis  for the  acquisition of the shares of First Savings common stock to
be purchased  and sold  hereunder and the  expiration  of any mandatory  waiting
periods.

     3. Seller's  Agreement to Sell: Seller hereby agrees to sell and deliver to
Buyer, and Buyer agrees to purchase,  at the time and place of closing,  169,989
shares of common stock of First  Savings,  and Seller agrees to deliver to Buyer
at or before the time of closing the  certificates  representing  such shares in
such  form and  accompanied  by such  closing  documents  as may  reasonably  be
requested by counsel for Buyer,  duly  endorsed,  in order to render such shares
transferable to Buyer on the books of First Savings.




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     4. Purchase  Price.  Buyer agrees to pay to Seller as a purchase  price for
each First Savings share properly tendered for sale hereunder by the Seller, the
amount of $2.51 per  share,  or a total of  $426,672.39,  payable at the time of
closing.

     5. Warranties of Seller.  Seller  represents and warrants that, to the best
of Seller's  information and belief, the financial condition of First Savings is
not  materially  less  favorable than as set forth in the unaudited May 31, 1997
financial  statements  attached to World  Savings'  "Notice of Annual Meeting of
Shareholders"  dated July 28, 1997.  Seller further  warrants that First Savings
has 774,277 shares of common stock outstanding;  that there are no other classes
of stock  outstanding;  and that there are no options,  warrants  or  agreements
whereby any  additional  shares of First Savings will be outstanding at the time
of closing.  Seller further  warrants that First Savings shall not be subject to
any fines or penalties  as a result of any real or claimed  failure of Seller to
comply with  regulatory  requirements  concerning its ownership of First Savings
shares.

     6. Title to  Shares/Indemnity.  Seller hereby  represents and warrants that
Seller has full right,  power and authority to enter into this  Agreement and to
sell,  assign,  transfer and deliver the First Savings shares of common stock to
be sold by Seller  hereunder;  and that good and valid title,  free and clear of
all liens,  encumbrances,  equities or claims to the First Savings  shares being
sold  hereunder by Seller will pass to Buyer at the time of closing;  and Seller
will indemnify and save Buyer harmless  against any loss,  damage,  liability or
express resulting from any breach of the representations or warranties contained
in paragraph 5 or 6 of this  Agreement,  which  representations  and  warranties
shall survive the closing hereunder.

     7.  Reduction in Price in the Event of Dividends.  In the event that during
the period from the date hereof to the time of closing  First  Savings shall pay
or declare any cash dividends,  split its stock, or issue stock  dividends,  the
Seller  agrees that the  purchase  price for the First  Savings  shares shall be
reduced,  pro rata, by the amount of any such cash dividends,  such reduction in
purchase  price to be deducted from the cash payment to be paid to the Seller at
the time and place of  closing,  and any  shares of First  Savings  received  by
Seller as a result of any such stock split or stock  dividend shall be delivered
to Buyer at closing for no additional consideration.

     8. Approval of Board of Directors. Approval of the President and a majority
of the Board of Directors  of the Seller  shall be endorsed  hereon which action
shall  constitute an effective  and binding  action of the  corporation.  Seller
agrees to furnish to Buyer at the time and place of  closing,  a duly  certified
copy of resolutions  adopted by the Board of Directors of Seller authorizing and
approving  the  execution,  delivery and  performance  of this  Agreement by the
Seller.  Seller  further  agrees to furnish  to Buyer,  at the time and place of
closing,  a duly certified copy of  resolutions  by the  stockholders  of Seller
authorizing  the  Directors  of Seller to sell the First  Savings  shares,  duly
shares purchased by Buyer, free and clear of all liens,  encumbrances,  equities
or claims.





<PAGE>


     9. Regulatory Approval. Buyer agrees that within 10 business days after the
execution  of this  Agreement,  it  shall  file a  preliminary  application  and
subsequently  a final  application  with the  Minneapolis  Federal  Reserve  for
approval to acquire the First Savings  shares to be purchased  hereunder.  World
Services will cooperate with and support the efforts of Spectrum in seeking such
approvals. World Services will use its best efforts to obtain the cooperation of
First  Savings to secure such  approval.  If such  approval  shall not have been
received within six months of the date of this Agreement,  then, unless extended
by mutual  agreement of the Buyer and Seller,  this Agreement  shall become void
and of n further force and effect.  If Buyer shall have made such application in
good faith but shall not have secured  permission  from  regulatory  authorities
within such time, Buyer shall not be deemed in default hereof.  Further,  if any
act of World Services or First Savings shall impede or defeat Spectrum's ability
to secure such approval, Spectrum shall not be deemed in default hereof.

     10.  Escrow.  Spectrum  shall  place  $75,000  in  Escrow  with F & M Bank,
Aberdeen,  South Dakota, to be held,  administered and distributed pursuant to a
separate Escrow Agreement of even date.

     11. Agreement Bind on Successors. This Agreement shall be binding upon, and
shall  inure to the  benefit of, the parties  hereto,  their  respective  heirs,
personal representatives, successors and assigns.

     IN  WITNESS  WHEREOF,  World  Services,   Inc.,  as  Seller,  and  Spectrum
Bancorporation, Inc., as Buyer, have executed this Agreement, as of the date and
year first above written.

                                        WORLD SERVICES, INC.
                                        Seller


                                        By
                                          --------------------------------------
                                          President


                                        SPECTRUM BANCORPORATION, INC.,
                                        Buyer


                                        By
                                          --------------------------------------
                                          President