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                                                                    Exhibit 10.1

                              EMPLOYMENT AGREEMENT

         THIS EMPLOYMENT AGREEMENT (hereinafter referred to as this
"AGREEMENT"), entered into this 1st day of May, 1997, by and among Winton
Financial Corporation, a savings and loan holding company incorporated under
Ohio law (hereinafter referred to as "WFC"), The Winton Savings and Loan Co., a
savings and loan association incorporated under Ohio law and a wholly-owned
subsidiary WFC (hereinafter referred to as "WINTON"), and Robert L. Bollin, an
individual (hereinafter referred to as the "EMPLOYEE");

                                  WITNESSETH:

         WHEREAS, the EMPLOYEE is an employee of WFC and WINTON (hereinafter
collectively referred to as the "EMPLOYERS");

         WHEREAS, as a result of the skill, knowledge and experience of the
EMPLOYEE, the Boards of Directors of the EMPLOYERS desire to retain the
services of the EMPLOYEE as the President of each of the EMPLOYERS;

         WHEREAS, the EMPLOYEE desires to continue to serve as the President of
each of the EMPLOYERS; and

         WHEREAS, the EMPLOYEE and the EMPLOYERS desire to enter into this
Agreement to set forth the terms and conditions of the employment relationship
between the EMPLOYERS and the EMPLOYEE;

         NOW, THEREFORE, in consideration of the premises and mutual covenants
herein contained, the EMPLOYERS and the EMPLOYEE hereby agree as follows:

         Section l. EMPLOYMENT AND TERM. Upon the terms and subject to the
conditions of this AGREEMENT, the EMPLOYERS hereby employ the EMPLOYEE, and the
EMPLOYEE hereby accepts employment, as the President of each of the EMPLOYERS.
The term of this AGREEMENT shall commence on the date hereof and shall end on
April 30, 2000 (hereinafter referred to as the "TERM").

         Section 2. DUTIES OF EMPLOYEE.

         (a) GENERAL DUTIES AND RESPONSIBILITIES. As the President of each of
the EMPLOYERS, the EMPLOYEE shall perform the duties and responsibilities
customary for such office to the best of his ability and in accordance with the
policies established by the Boards of Directors of the EMPLOYERS and all
applicable laws and regulations. The EMPLOYEE shall perform such other duties
not inconsistent with his position as may be assigned to him from time

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to time by the Boards of Directors of the EMPLOYERS; provided, however, that
the EMPLOYERS shall employ the EMPLOYEE during the TERM in a senior executive
capacity without diminishment of the importance or prestige of his position.

         (b) DEVOTION OF ENTIRE TIME TO THE BUSINESS OF THE EMPLOYERS. The
EMPLOYEE shall devote his entire productive time, ability and attention during
normal business hours throughout the TERM to the faithful performance of his
duties under this AGREEMENT. The EMPLOYEE shall not directly or indirectly
render any services of a business, commercial or professional nature to any
person or organization without the prior written consent of the Boards of
Directors of the EMPLOYERS; provided, however, that the EMPLOYEE shall not be
precluded from (i) vacations and other leave time in accordance with Section
3(e) hereof; (ii) reasonable participation in community, civic, charitable or
similar organizations; or (iii) the pursuit of personal investments which do
not interfere or conflict with the performance of the EMPLOYEE'S duties to the
EMPLOYERS.

             Section 3. COMPENSATION, BENEFITS AND REIMBURSEMENTS.

         (a) SALARY. The EMPLOYEE shall receive during the TERM an annual
salary payable in equal installments not less often than monthly. The amount of
such annual salary shall be $174,000 until changed by the Boards of Directors
of the EMPLOYER in accordance with Section 3(b) of this AGREEMENT.

         (b) ANNUAL SALARY REVIEW. In December of each year throughout the
TERM, the annual salary of the EMPLOYEE shall be reviewed by the Boards of
Directors of the EMPLOYERS and shall be set, effective January l of the
following year, at an amount not less than $174,000, based upon the EMPLOYEE'S
individual performance and the overall profitability and financial condition of
the EMPLOYERS (hereinafter referred to as the "ANNUAL REVIEW"). The results of
the ANNUAL REVIEW shall be reflected in the minutes of the Boards of Directors
of the EMPLOYERS.

         (c) EXPENSES. In addition to any compensation received under Section
3(a) or (b) of this AGREEMENT, the EMPLOYERS shall pay or reimburse the
EMPLOYEE for all reasonable travel, entertainment and miscellaneous expenses
incurred in connection with the performance of his duties under this AGREEMENT.
Such reimbursement shall be made in accordance with the existing policies and
procedures of the EMPLOYERS pertaining to reimbursement of expenses to senior
management officials.

         (d) EMPLOYEE BENEFIT PROGRAM. (i) During the TERM, the EMPLOYEE shall
be entitled to participate in all formally established employee benefit, bonus,
pension and profit-sharing plans and similar programs that are maintained by
the EMPLOYERS from time to time, including programs in respect of group health,
disability or life insurance, reimbursement of membership fees in civic, social
and professional organizations and all employee benefit plans or programs
hereafter adopted in writing by the Boards of Directors of the EMPLOYERS, for
which senior management personnel are eligible, including any employee stock
ownership plan, stock option plan or other stock benefit plan (hereinafter
collectively referred to as the

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"BENEFIT PLANS"). Notwithstanding the foregoing sentence, the EMPLOYERS may
discontinue or terminate at any time any such BENEFIT PLANS, now existing or
hereafter adopted, to the extent permitted by the terms of such plans and shall
not be required to compensate the EMPLOYEE for such discontinuance or
termination.

         (ii) After the expiration of the TERM or the termination of the
employment of the EMPLOYEE for any reason other than JUST CAUSE (as defined
hereinafter), the EMPLOYERS shall provide a group health insurance program in
which the EMPLOYEE and his spouse will be eligible to participate and which
shall provide substantially the same benefits as are available to retired
employees of the EMPLOYERS on the date of this AGREEMENT until both the
EMPLOYEE and his spouse become 65 years of age; provided, however that all
premiums for such program shall be paid by the EMPLOYEE and/or his spouse after
the EMPLOYEE's retirement; provided further, however, that the EMPLOYEE may
only participate in such program for as long as the EMPLOYERS make available an
employee group health insurance program which permits the EMPLOYERS to make
coverage available for retirees.

         (e) VACATION AND SICK LEAVE. The EMPLOYEE shall be entitled, without
loss of pay, to be absent voluntarily from the performance of his duties under
this AGREEMENT, subject to the following conditions:

                  (i) The EMPLOYEE shall be entitled to an annual vacation in
         accordance with the policies periodically established by the Boards of
         Directors of the EMPLOYERS for senior management officials of the
         EMPLOYERS, the duration of which shall not be less than four weeks
         each calendar year;

                  (ii) Vacation time shall be scheduled by the EMPLOYEE in a
         reasonable manner and shall be subject to approval by the Boards of
         Directors of the EMPLOYERS. The EMPLOYEE shall not be entitled to
         receive any additional compensation from the EMPLOYERS in the event of
         his failure to take the full allotment of vacation time in any
         calendar year; provided, however, that a maximum of one week of unused
         vacation time in any calendar year may be carried over into any
         succeeding calendar year; and

                  (iii) The EMPLOYEE shall be entitled to annual sick leave as
         established by the Boards of Directors of the EMPLOYERS for senior
         management officials of the EMPLOYERS. In the event that any sick
         leave time shall not have been used during any calendar year, such
         leave shall accrue to subsequent calendar years, only to the extent
         authorized by the Boards of Directors of the EMPLOYERS. Upon
         termination of employment, the EMPLOYEE shall not be entitled to
         receive any additional compensation from the EMPLOYERS for unused sick
         leave.

         Section 4. TERMINATION OF EMPLOYMENT.

         (a) GENERAL. In addition to the termination of the employment of the
EMPLOYEE upon the expiration of the TERM, the employment of the EMPLOYEE shall
terminate at any other time during the TERM upon the delivery by the EMPLOYERS
of written notice of

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employment termination to the EMPLOYEE. Without limiting the generality of the
foregoing sentence, the following subparagraphs (i), (ii) and (iii) of this
Section 4(a) shall govern the obligations of the EMPLOYERS to the EMPLOYEE upon
the occurrence of the events described in such subparagraphs:

                  (i) TERMINATION FOR JUST CAUSE. In the event that the
         EMPLOYERS terminate the employment of the EMPLOYEE during the TERM
         because of the EMPLOYEE'S personal dishonesty, incompetence, willful
         misconduct, breach of fiduciary duty involving personal profit,
         intentional failure or refusal to perform the duties and
         responsibilities assigned in this AGREEMENT, willful violation of any
         law, rule, regulation or final cease-and-desist order (other than
         traffic violations or similar offenses), conviction of a felony or for
         fraud or embezzlement, or material breach of any provision of this
         AGREEMENT (hereinafter collectively referred to as "JUST CAUSE"), the
         EMPLOYEE shall not receive, and shall have no right to receive, any
         compensation or other benefits for any period after such termination.

                  (ii) TERMINATION AFTER CHANGE OF CONTROL. In the event that,
         before the expiration of the TERM and in connection with or within one
         year of a CHANGE OF CONTROL (as defined hereinafter) of either one of
         the EMPLOYERS, (A) the employment of the EMPLOYEE is terminated for
         any reason other than JUST CAUSE before the expiration of the TERM,
         (B) the present capacity or circumstances in which the EMPLOYEE is
         employed is changed before the expiration of the TERM, or (C) the
         EMPLOYEE'S responsibilities, authority, compensation or other benefits
         provided under this AGREEMENT are materially reduced, then the
         following shall occur:

                           (I) The EMPLOYERS shall promptly pay to the EMPLOYEE
                  or to his beneficiaries, dependents or estate an amount equal
                  to the sum of (l) the amount of compensation to which the
                  EMPLOYEE would be entitled for the remainder of the TERM
                  under this AGREEMENT, plus (2) the difference between (x) the
                  product of three, multiplied by the greater of the annual
                  salary set forth in Section 3(a) of this AGREEMENT or the
                  annual salary payable to the EMPLOYEE as a result of any
                  ANNUAL REVIEW, less (xx) the amount paid to the EMPLOYEE
                  pursuant to clause (l) of this subparagraph (I);

                           (II) The EMPLOYEE, his dependents, beneficiaries and
                  estate shall continue to be covered under all BENEFIT PLANS
                  of the EMPLOYERS at the EMPLOYERS' expense as if the EMPLOYEE
                  were still employed under this AGREEMENT until the earliest
                  of the expiration of the TERM or the date on which the
                  EMPLOYEE is included in another employer's benefit plans as a
                  full-time employee; and

                           (III) The EMPLOYEE shall not be required to mitigate
                  the amount of any payment provided for in this AGREEMENT by
                  seeking other employment or otherwise, nor shall any amounts
                  received from other employment or otherwise by

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                  the EMPLOYEE offset in any manner the obligations of the
                  EMPLOYERS hereunder, except as specifically stated in
                  subparagraph (II).

         In the event that payments pursuant to this subsection (ii) would
         result in the imposition of a penalty tax pursuant to Section 280G(b)
         (3) of the Internal Revenue Code of 1986, as amended, and the
         regulations promulgated thereunder (hereinafter collectively referred
         to as "SECTION 280G"), such payments shall be reduced to the maximum
         amount which may be paid under SECTION 280G without exceeding such
         limits.

                  (iii) TERMINATION WITHOUT CHANGE OF CONTROL. In the event
         that the employment of the EMPLOYEE is terminated before the
         expiration of the TERM for any reason other than JUST CAUSE or in
         connection with or within one year of a CHANGE OF CONTROL, the
         EMPLOYERS shall be obligated to continue (A) to pay on a monthly basis
         to the EMPLOYEE, his designated beneficiaries or his estate, his
         annual salary provided pursuant to Section 3(a) or (b) of this
         AGREEMENT until the expiration of the TERM and (B) to provide to the
         EMPLOYEE at the EMPLOYERS' expense, health, life, disability, and
         other benefits substantially equal to those being provided to the
         EMPLOYEE at the date of termination of his employment until the
         earliest to occur of the expiration of the TERM or the date the
         EMPLOYEE becomes employed full-time by another employer. In the event
         that payments pursuant to this subsection (iii) would result in the
         imposition of a penalty tax pursuant to SECTION 280G, such payments
         shall be reduced to the maximum amount which may be paid under SECTION
         280G without exceeding those limits.

         (b) DEATH OF THE EMPLOYEE. The TERM automatically terminates upon the
death of the EMPLOYEE. In the event of such death, the EMPLOYEE'S estate shall
be entitled to receive the compensation due the EMPLOYEE through the last day
of the calendar month in which the death occurred, except as otherwise
specified herein.

         (c) "GOLDEN PARACHUTE" PROVISION. Any payments made to the EMPLOYEE
pursuant to this AGREEMENT or otherwise are subject to and conditioned upon
their compliance with 12 U.S.C. ss.1828(k) and any regulations promulgated
thereunder.

         (d) DEFINITION OF "CHANGE OF CONTROL". A "CHANGE OF CONTROL" shall be
deemed to have occurred in the event that, at any time during the TERM, either
any person or entity obtains "conclusive control" of the EMPLOYERS within the
meaning of 12 C.F.R. Section 574.4(a), or any person or entity obtains
"rebuttable control" within the meaning of 12 C.F.R. Section 574.4(b) and has
not rebutted control in accordance with 12 C.F.R. Section 574.4(c).

         Section 5. SPECIAL REGULATORY EVENTS. Notwithstanding Section 4 of
this AGREEMENT, the obligations of the EMPLOYERS to the EMPLOYEE shall be as
follows in the event of the following circumstances:

         (a) If the EMPLOYEE is suspended and/or temporarily prohibited from
participating in the conduct of the EMPLOYERS' affairs by a notice served under
section 8(e) (3) or (g) (1) of

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the Federal Deposit Insurance Act (hereinafter referred to as the "FDIA"), the
EMPLOYERS' obligations under this AGREEMENT shall be suspended as of the date
of service of such notice, unless stayed by appropriate proceedings. If the
charges in the notice are dismissed, the EMPLOYERS may, in its discretion, pay
the EMPLOYEE all or part of the compensation withheld while the obligations in
this AGREEMENT were suspended and reinstate, in whole or in part, any of the
obligations that were suspended.

         (b) If the EMPLOYEE is removed and/or permanently prohibited from
participating in the conduct of the EMPLOYERS' affairs by an order issued under
Section 8(e) (4) or (g) (l) of the FDIA, all obligations of the EMPLOYERS under
this AGREEMENT shall terminate as of the effective date of such order;
provided, however, that vested rights of the EMPLOYEE shall not be affected by
such termination.

         (c) If the EMPLOYERS are in default, as defined in section 3(x) (1) of
the FDIA, all obligations under this AGREEMENT shall terminate as of the date
of default; provided, however, that vested rights of the EMPLOYEE shall not be
affected.

         (d) All obligations under this AGREEMENT shall be terminated, except
to the extent of a determination that the continuation of this AGREEMENT is
necessary for the continued operation of the EMPLOYERS, (i) by the Director of
the Office of Thrift Supervision (hereinafter referred to as the "OTS"), or his
or her designee at the time that the Federal Deposit Insurance Corporation or
the Resolution Trust Corporation enters into an agreement to provide assistance
to or on behalf of the EMPLOYERS under the authority contained in Section 13(c)
of the FDIA or (ii) by the Director of the OTS, or his or her designee, at any
time the Director of the OTS, or his or her designee, approves a supervisory
merger to resolve problems related to the operation of the EMPLOYERS or when
the EMPLOYERS are determined by the Director of the OTS to be in an unsafe or
unsound condition. No vested rights of the EMPLOYEE shall be affected by any
such action.

         Section 6. CONSOLIDATION, MERGER OR SALE OF ASSETS. Nothing in this
AGREEMENT shall preclude the EMPLOYERS from consolidating with, merging into,
or transferring all, or substantially all, of their assets to another
corporation that assumes all of the EMPLOYERS' obligations and undertakings
hereunder. Upon such a consolidation, merger or transfer of assets, the term
"EMPLOYERS" as used herein, shall mean such other corporation or entity, and
this AGREEMENT shall continue in full force and effect.

         Section 7. CONFIDENTIAL INFORMATION. The EMPLOYEE acknowledges that
during his employment he will learn and have access to confidential information
regarding the EMPLOYERS and their customers and businesses. The EMPLOYEE agrees
and covenants not to disclose or use for his own benefit, or the benefit of any
other person or entity, any confidential information, unless or until the
EMPLOYERS consent to such disclosure or use or such information becomes common
knowledge in the industry or is otherwise legally in the public domain. The
EMPLOYEE shall not knowingly disclose or reveal to any unauthorized person any
confidential information relating to the EMPLOYERS, their subsidiaries or
affiliates, or to any of the businesses operated by them, and the EMPLOYEE
confirms that such

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information constitutes the exclusive property of the EMPLOYERS. The EMPLOYEE
shall not otherwise knowingly act or conduct himself (a) to the material
detriment of the EMPLOYERS, their subsidiaries, or affiliates, or (b) in a
manner which is inimical or contrary to the interests of the EMPLOYERS.

         Section 8. NONASSIGNABILITV. Neither this AGREEMENT nor any right or
interest hereunder shall be assignable by the EMPLOYEE, his beneficiaries, or
legal representatives without the EMPLOYERS' prior written consent; provided,
however, that nothing in this Section 8 shall preclude (a) the EMPLOYEE from
designating a beneficiary to receive any benefits payable hereunder upon his
death, or (b) the executors, administrators, or other legal representatives of
the EMPLOYEE or his estate from assigning any rights hereunder to the person or
persons entitled thereto.

         Section 9. NO ATTACHMENT. Except as required by law, no right to
receive payment under this AGREEMENT shall be subject to anticipation,
commutation, alienation, sale, assignment, encumbrance, charge, pledge or
hypothecation or to execution, attachment, levy, or similar process of
assignment by operation of law, and any attempt, voluntary or involuntary, to
effect any such action shall be null, void and of no effect.

         Section l0. BINDING AGREEMENT. This AGREEMENT shall be binding upon,
and inure to the benefit of, the EMPLOYEE and the EMPLOYERS and their
respective permitted successors and assigns.

         Section 11. AMENDMENT OF AGREEMENT. This AGREEMENT may not be modified
or amended, except by an instrument in writing signed by the parties hereto.

         Section 12. WAIVER. No term or condition of this AGREEMENT shall be
deemed to have been waived, nor shall there be an estoppel against the
enforcement of any provision of this AGREEMENT, except by written instrument of
the party charged with such waiver or estoppel. No such written waiver shall be
deemed a continuing waiver, unless specifically stated therein, and each waiver
shall operate only as to the specific term or condition waived and shall not
constitute a waiver of such term or condition for the future or as to any act
other than the act specifically waived.

         Section 13. SEVERABILITY. If, for any reason, any provision of this
AGREEMENT is held invalid, such invalidity shall not affect the other
provisions of this AGREEMENT not held so invalid, and each such other provision
shall, to the full extent consistent with applicable law, continue in full
force and effect. If this AGREEMENT is held invalid or cannot be enforced, then
any prior AGREEMENT between the EMPLOYERS (or any predecessor thereof) and the
EMPLOYEE shall be deemed reinstated to the full extent permitted by law, as if
this AGREEMENT had not been executed.

         Section 14. HEADINGS. The headings of the paragraphs herein are
included solely for convenience of reference and shall not control the meaning
or interpretation of any of the provisions of this AGREEMENT.

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         Section 15. GOVERNING LAW. This AGREEMENT has been executed and
delivered in the State of Ohio and its validity, interpretation, performance,
and enforcement shall be governed by the laws of this State of Ohio, except to
the extent that federal law is governing.

         Section 16. EFFECT OF PRIOR AGREEMENTS. This AGREEMENT contains the
entire understanding between the parties hereto and supersedes any prior
employment agreement between the EMPLOYERS and the EMPLOYEE, each of which is
hereby terminated and is of no further force or effect.

         Section 17. NOTICES. Any notice or other communication required or
permitted pursuant to this AGREEMENT shall be deemed delivered if such notice
or communication is in writing and is delivered personally or by facsimile
transmission or is deposited in the United States mail, postage prepaid,
addressed as follows:

      If to Winton Financial Corporation and/or The Winton Savings and Loan Co.:

                        Winton Financial Corporation
                        5511 Cheviot Road
                        Cincinnati, Ohio 45247-7095

      With copies to:

                        John C. Vorys, Esq.
                        Vorys, Sater, Seymour and Pease
                        Atrium Two, Suite 2100
                        221 East Fourth Street
                        Cincinnati, Ohio 45201-0236

      If to the EMPLOYEE to:

                        Robert L. Bollin
                        3358 Kuliga Park Drive
                        Cincinnati, Ohio 45248


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         IN WITNESS WHEREOF, the EMPLOYERS have caused this AGREEMENT to be
executed by its duly authorized officer, and the EMPLOYEE has signed this
AGREEMENT, each as of the day and year first above written.


Attest:                                  WINTON FINANCIAL CORPORATION

CHRISTOPHER G. BRAUNSTEIN                By WILLIAM J. PARCHMAN
-------------------------                -------------------------
                                         its CHAIRMAN OF THE BOARD
                                         -------------------------


Attest:                                  THE WINTON SAVINGS AND LOAN CO.

                                         By
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                                         its 
                                            ------------------------

Attest:

CHRISTOPHER G. BRAUNSTEIN                ROBERT L. BOLLIN
------------------------------           --------------------------
                                         Robert L. Bollin

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