EXHIBIT 10.1

                              EMPLOYMENT AGREEMENT


         THIS   EMPLOYMENT   AGREEMENT   (hereinafter   referred   to  as   this
"AGREEMENT"),  entered  into this 22d day of May,  1998,  by and between  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 Gregory J. 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 Executive Vice President of WINTON and the Vice President
of WFC;

         WHEREAS,  the  EMPLOYEE  desires to continue to serve as the  Executive
Vice President of WINTON and the Vice President of WFC; 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 Executive Vice President of WINTON
and the Vice President of WFC. The term of this AGREEMENT  shall commence on the
date  hereof and shall end on April 30,  2001  (hereinafter  referred  to as the
"TERM").

         Section 2.        Duties of EMPLOYEE.

         (a) General Duties and  Responsibilities.  As an officer 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 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.


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         (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 $134,000  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  $134,000,  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


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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 "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.

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         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 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

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                           (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 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.  ss.574.4(a),  or any person or entity obtains  "rebuttable
control"  within  the  meaning  of 12 C.F.R.  ss.574.4(b)  and has not  rebutted
control in accordance with 12 C.F.R. ss.574.4(c).


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         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 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.

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         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  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.

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         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.

         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 & Loan
         Company:

                           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:

                           Gregory J. Bollin
                           4440 Hubble Road
                           Cincinnati, Ohio 45247


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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


_____________________________               By ________________________________
                                               ________________________________
                                               its ____________________________


Attest:                                     THE WINTON SAVINGS AND LOAN CO.

_____________________________               By ________________________________
                                               ________________________________
                                               its ____________________________
Attest:


_____________________________                ________________________________
                                             Gregory J. Bollin

















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