EXHIBIT 10.1

                              SUPERVISORY AGREEMENT



         This Supervisory Agreement (Agreement) is made and is effective this
16th day of December, 2004 (Effective Date), by and between First Federal
Savings and Loan Association of Edwardsville, Edwardsville, Illinois OTS Docket
No. 05174 (First Federal or Association), a federally chartered stock savings
association, and the Office of Thrift Supervision (OTS), a bureau of the United
States Department of the Treasury, acting through its Southeast Regional
Director or his designee (Regional Director).

         WHEREAS, the OTS is the primary federal regulatory of First Federal;

         WHEREAS, based upon First Federal's August 9, 2004 Report of
Examination (Examination), the OTS is of the opinion that First Federal has
engaged in acts and practices that are considered to be unsafe and unsound;

         WHEREAS, the OTS is of the opinion that grounds exist for the
initiation of an administrative proceeding against First Federal;

         WHEREAS, the OTS is of the view that it is appropriate to take measures
intended to ensure that First Federal will (i) comply with all applicable laws
and regulations; and (ii) engage in safe and sound practices; and

         WHEREAS, First Federal, acting through its Board of Directors (Board),
without admitting or denying that such grounds exist except those as to
jurisdiction, which are admitted, wishes to cooperate with the OTS and to
evidence the intent to: (i) comply with all applicable laws and regulations; and
(ii) engage in safe and sound practices.

         NOW THEREFORE, in consideration of the above premises and the mutual
undertakings set forth herein, the parties hereto agree as follows:

Effective Anti-Money Laundering/Bank Secrecy Act (BSA) Compliance Program

1.   The Board shall adopt an Anti-Money  Laundering and BSA Compliance  Program
     (BSA Compliance Program) as follows:

     a.   Within sixty (60) days after the Effective Date of this Agreement, the
          Board will review the December 19, 2002 Chief Executive Officer Letter
          from OTS  Managing  Director  Scott  Albinson  regarding  the  revised
          Compliance Self Assessment  Guide (CEO # 171) to determine the changes


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          that should be made to the Association's written compliance management
          program to comply with the  requirements  of CEO # 171.  Such  changes
          will  be  made  within  90  days  after  the  Effective  Date  of this
          Agreement.

     b.   Within   forty-five  (45)  days  after  the  Effective  Date  of  this
          Agreement, the Board will review and revise Association's policies and
          procedures  governing  compliance  with the BSA Compliance  Program to
          ensure the  Association  complies  with the  requirements  of the Bank
          Secrecy Act, 31 U.S.C. ss. 5311 et seq., 31 C.F.R. Part 103, 12 C.F.R.
          ss. 563.177, and 12 C.F.R. ss. 563.180(d).  The BSA Compliance Program
          will,  at a minimum,  require the  accurate and timely  completion  of
          Currency  Transaction  Reports;  designate a member of management  who
          shall  serve  as  the  primary  BSA  officer  and be  responsible  for
          coordinating  and monitoring the  Association's  day to day compliance
          with  its BSA  Compliance  Program;  provide  for  annual  independent
          testing by a  qualified  third  party with  knowledge  of BSA Laws and
          Regulations;   provide  for  First   Federal   personnel   to  receive
          comprehensive training on BSA reporting requirements; include specific
          policies and  procedures  to ensure that  transactions  structured  to
          evade or  circumvent  the BSA's  requirements  are detected and that a
          Suspicious   Activity   Report  is  filed,   as  required  by  Section
          563.180(d);  and provide  for a system of internal  controls to ensure
          the Association's  ongoing compliance with the BSA Compliance Program,
          the BSA,  12  C.F.R.  Part  103,  and 12  C.F.R.  ss.ss.  563.177  and
          563.180(d).  First Federal will maintain  adequate records to document
          compliance  with this  provision and  adherence to its BSA  Compliance
          Program.

     c.   Effective immediately,  the Association shall ensure that all Currency
          Transaction  Reports (CTRs) are accurately  completed and timely filed
          with the  appropriate  agency by  registered  or  certified  mail with
          return receipts requested.

Customer Identification Program/Office of Foreign Assets Control (OFAC) Policy

2.   Within forty-five (45) days after the Effective Date of this Agreement, the
     Board shall adopt and adhere to Customer  Identification  Program (CIP) and
     OFAC policy and ensure that it:

     a.   contains   specific   requirements   and   procedures   governing  the
          origination and establishment of new accounts;

     b.   establishes  guidelines  to be followed  for  verifying  a  customer's
          identity;

     c.   requires verification of the identity of loan applicants;

     d.   requires Association  employees to fully and accurately complete a CIP
          worksheet; and

     e.   requires the customer's name to be checked against the OFAC list.


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BSA/SAR Training

3. Within sixty (60) days after the Effective Date of this Agreement, the Board
shall develop, implement, and thereafter ensure the Association's adherence to a
comprehensive training program for all appropriate operational and supervisory
personnel to ensure their awareness of their responsibility for compliance with
the requirements of (i) the BSA Laws and Regulations, and (ii) the SAR
Regulations (BSA Training Program).

4. BSA Training Program should include strategies for mandatory attendance, the
frequency of training, procedures and timing for updating training programs and
materials including a thorough review of previously identified violations and
deficiencies, and the method for delivering training.

5. The Association shall maintain documentation of all BSA training attended by
its employees.

Flood Disaster Protection Act (FDPA)

6. Within sixty (60) days after the Effective Date of this Agreement, the Board
shall review and amend the Association's FDPA policies and procedures (FDPA
Policy) to ensure the Association fully complies with the FDPA and the OTS
regulations at 12 C.F.R. Part 572 (collectively, the FDPA Laws and Regulations).
The FDPA Policy shall establish a system to ensure that appropriate flood
insurance is obtained and maintained on all property securing a loan from the
Association, and that all flood determinations and notices are accurately and
timely completed and made.

7. Within sixty (60) days after the Effective Date of this Agreement, the Board
shall review all loans made on or after March 1, 2001, to ensure that all loans
subject to the FDPA Laws and Regulations fully comply with the requirements of
such laws and regulations. The Association shall promptly correct any
deficiencies or non-compliance with the FDPA Laws and Regulations. Management
shall prepare and provide to the Board a report detailing the results of the
Association's review (FDPA Report). The FDPA Report shall list all loans subject
to the FDPA Laws and Regulations, identify those loans with deficiencies or
otherwise found to be in non-compliance with the FDPA Laws and Regulations, and
specify the corrective action taken to remedy such deficiencies and
non-compliance. A copy of the FDPA Report and the Board minutes detailing the
Board's review shall be provided to the Regional Director within ten (10)
business days after the date of the Board meeting at which the FDPA Report is
reviewed.

Equal Credit Opportunity Act

8. Effective immediately,  the Association shall comply with the requirements of
the Equal Credit Opportunity Act, 15 U.S.C. ss. 1691 et seq. (ECOA), by:

     a.   correctly   identifying  denied  versus  withdrawn   applications  and
          providing  all  effectively  denied  applicants,  as  identified in 12
          C.F.R. ss. 202.9, with adverse action notices; and

     b.   enhancing  the  Association's  procedures  to  ensure  the  monitoring
          information is completed based on visual observation or surname,  when
          needed, as required by 12 C.F.R. ss. 202.13(a)(1).

Nondiscrimination Requirements

9. Effective immediately, the Association shall have available to the public
clearly written, non-discriminatory loan underwriting standards. These standards
and the business practices implementing them shall be reviewed at least annually
to comply with the requirements of 12 C.F.R. ss.528.2a(b).

Bank Protection Act

10. Within thirty (30) days, and at least annually thereafter, the security
officer shall report to the Association's Board on the implementation,
administration, and effectiveness of the Association's security program as
required by 12 C.F.R. ss.568.4.

Board Compliance Committee

11. Within thirty (30) days of the Effective Date of this Agreement, the Board
shall appoint a committee (the Regulatory Compliance Committee) comprised of
three or more directors, the majority of whom shall be independent of
management, to monitor and coordinate the Association's compliance with the
provisions of this Agreement.

12. By February 28, 2005, and thereafter within thirty (30) days after the end
of each calendar quarter, the Regulatory Compliance Committee shall submit a
written progress report to the Board detailing the actions taken to comply with
each provision of this Agreement and the results of those actions (Regulatory
Compliance Report).

13. By March 31, 2005, and thereafter within sixty (60) days after the end of
each calendar quarter, the Board shall submit to the Regional Director: (i) a
copy of the Regulatory Compliance Report required by Paragraph 13 above, with
any additional comments made by the Board, and (ii) a written certification that
each director has reviewed the Regulatory Compliance Report.

Definitions

14. All technical words or terms used in this Agreement for which meanings are
not specified or otherwise provided by the provisions of this Agreement shall,
insofar as applicable, have meanings as defined in Chapter V of Title 12 of the
Code of Federal Regulations, the Home Owners' Loan Act (HOLA), the FDIA, OTS
Memoranda or other published OTS guidance. Any such technical words or terms
used in this Agreement and undefined in said Code of Federal Regulations, the


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HOLA, the FDIA, or OTS Memoranda/guidance shall have meanings that are in
accordance with the best custom and usage in the savings and loan industry.

Successor, Statutes, Regulations, Guidance, Amendments

15. Reference in this Agreement to provisions of statutes, regulations, OTS
Memoranda, and other published regulatory guidance shall be deemed to include
references to all amendments to such provisions as have been made as of the
Effective Date and references to successor provisions as they become applicable.

No Violations Authorized; OTS Not Restricted

16. Nothing in this Agreement or the Stipulation shall be construed as: (a)
allowing the Association to violate any law, rule, regulation, or policy
statement to which it is subject, or (b) restricting or estopping the OTS from
taking any action(s) that it believes are appropriate in fulfilling the
responsibilities placed upon it by law including, without limitation, any type
of supervisory, enforcement or other action that the OTS determines to be
appropriate, arising out of matters described in the most recent Report of
Examination, or based on other matters.

Time Limits; Effect of Headings; Separability Clause; Stipulation Incorporated

17. Time limitations for compliance with the terms of this Agreement run from
the Effective Date, unless otherwise noted.

18. The section and paragraph headings herein are for convenience only and shall
not affect the construction hereof.

19. In case any provision in this Agreement is ruled to be invalid, illegal or
unenforceable by the decision of any court of competent jurisdiction, the
validity, legality and enforceability of the remaining provisions here shall not
in any way be affected or impaired thereby, unless the Regional Director in
his/her sole discretion determines otherwise.

Effective Date; Duration

20. This Agreement is and shall become effective on the date it is issued, i.e.,
the Effective Date as shown on the first page hereof. This Agreement shall
remain in effect until terminated, modified or suspended, in writing by the OTS,
acting through its Director, Regional Director or other authorized
representative.

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     IN WITNESS  WHEREOF,  the OTS, acting by and through the Regional  Director
and the Bank, in accordance with a duly adopted resolution of its Board,  hereby
executes this Agreement as of the Effective Date.

OFFICE OF THRIFT SUPERVISION



-------------------------------
John E. Ryan
Regional Director
Southeast Region

FIRST FEDERAL SAVINGS AND LOAN ASSOCIATION OF EDWARDSVILLE
by a majority of its directors

By:


/s/ Nina J. Baird
-------------------------------
Nina J. Baird


/s/ Donald Engelke
-------------------------------
Donald Engelke


/s/ Harry J. Gallatin
-------------------------------
Harry J. Gallatin


/s/ Joseph B. Helms
-------------------------------
Dr. Joseph B. Helms


/s/ Larry W. Mosby
-------------------------------
Larry W. Mosby


/s/ Dean Pletcher
-------------------------------
Dean Pletcher


/s/ Robert W. Richards
-------------------------------
Robert W. Richards


/s/ Joseph G. Stevens
-------------------------------
Joseph G. Stevens