Exhibit 10(8)



               MICHIGAN CITY SAVINGS AND LOAN ASSOCIATION DEFERRED
                      DIRECTOR SUPPLEMENTAL RETIREMENT PLAN
                            (EFFECTIVE JUNE 27, 2001)


                                    ARTICLE I
                                   DEFINITIONS

     Section   1.01.   Administrator.   The  term   "Administrator"   means  the
Association,  which shall have the authority to manage and control the operation
of this Plan.

     Section  1.02.  Association.  The term  "Association"  means  Michigan City
Savings and Loan Association, an Indiana savings association.

     Section 1.03. Beneficiary.  The term "Beneficiary" means for a Director the
individual or individuals designated by that Director to receive benefits in the
event of his death.

     Section  1.04.  Change in Control.  The term  "Change in  Control"  means a
change in control of the  Association  or any holding  company formed to acquire
all  outstanding  capital stock of the Association  following the  Association's
conversion  to stock form (the  "Holding  Company"),  within  the  meaning of 12
C.F.R. ss. 574.4(a) (other than a change of control  resulting from a trustee or
other  fiduciary  holding shares of the capital stock of the  Association or the
Holding Company under an employee benefit plan maintained by the Holding Company
or by the Association).

     Section 1.05.  Director.  The term "Director" means any member of the Board
of Directors of the Association.

     Section  1.06.  Director  Fees.  The term  "Director  Fees"  means for each
Director the monthly  remuneration for services as a director  (inclusive of any
monthly  retainers  and  attendance  fees for regularly  scheduled  meetings but
exclusive of fees paid for special meetings or for attending committee meetings)
paid to that Director by the Association at the date of  determination.

     Section 1.07.  Effective  Date.  The term  "Effective  Date" means June 27,
2001.

     Section  1.08.  Plan.  The term  "Plan"  means  the plan  embodied  by this
instrument as now in effect or hereafter amended.

     Section  1.09.  Total  Disability.  The  term  "Total  Disability"  means a
physical or mental condition which, in the opinion of a physician  acceptable to
the Association, precludes a Director from continuing to serve as a Director.

     Section 1.10.  Vested  Percentage.  The term "Vested  Percentage" means the
percentage  of  Director  Fees paid to a Director  at the date  benefits  became
payable  under  Article  II and  shall  be  determined  in  accordance  with the
following schedule:

         Completed Years as a Director                     Vested Percentage
         -----------------------------                     -----------------
                  less than 5                                    0%
                  5                                              20%
                  6                                              40%
                  7                                              60%
                  8                                              80%
                  9 or more                                      100%

provided,  however, that a Director who has completed at least one (1) year as a
Director as of the  Effective  Date or whose status as a Director  terminates by
reason of Total Disability  shall have a Vested  Percentage equal to one hundred
percent  (100%);  provided,  further,  that upon the  occurrence  of a Change in
Control,  the Vested Percentage of each Director in office  immediately prior to
the Change in Control shall be one hundred percent (100%).

                                   ARTICLE II
                                    BENEFITS

     Section 2.01. Director Benefits.  Upon the Director's termination of status
as a Director of the  Association  ("Termination  Date"),  the Director shall be
entitled to receive an amount equal to the product of:

     (1) the Director's Vested Percentage; and

     (2) the rate of Directors Fees payable to such Director  immediately  prior
to the Termination Date

for the one hundred and twenty (120) consecutive  months  immediately  following
the month in which the  Termination  Date  occurs.  In the event the  Director's
death occurs after the  commencement of the one hundred and twenty (120) monthly
installments,  no further  installments  shall be payable  following the date of
such Director's death. Notwithstanding anything in this plan to the contrary, in
the event that the Association's independent auditor determines that any payment
by the Association to or for the benefit of a Director  pursuant to the terms of
this Plan would be  nondeductible  by the  Association  for  federal  income tax
purposes  because of  Section  280G of the  Internal  Revenue  Code of 1986,  as
amended  ("the  "Code"),  then the amount  payable to or for the  benefit of the
Director  pursuant  to this Plan  shall be reduced  (but not below  zero) to the
maximum amount payable  without causing the payment to be  nondeductible  by the
Association  because  of Section  280G of the Code.  Such  determination  by the
Plan's independent auditor shall be conclusive and binding upon the parties.

     Section  2.02.  No Death  Benefits.  If a Director's  death  occurs  before
commencement of the monthly payments  described in Section 2.01 of this Plan, no
payments shall be payable following the date of such Director's death.

                                   ARTICLE III
                                 ADMINISTRATION

     Section  3.01.  Administration  of Plan.  The  Association  shall  have the
complete  responsibility  for the  administration  of this Plan. The Association
shall have full  power and  authority  to adopt  rules and  regulations  for the
administration of this Plan; provided,  however, that such rules and regulations
are not inconsistent with the provisions of this Plan.

     Section 3.02.  Delegation of  Responsibility.  The Association may delegate
duties  involved  in the  administration  of this Plan to such person or persons
whose services are deemed by it to be necessary or convenient.

     Section 3.03.  Payment of Benefits.  The amounts  payable as benefits under
this Plan shall be paid solely from the general  assets of the  Association.  No
Director shall have any interest in any specific assets of the Association under
the terms of this Plan.  This Plan shall not be  considered  to create an escrow
account,  trust fund or other  funding  arrangement  of any kind or a  fiduciary
relationship  between  any  Director  and  the  Association.  The  Association's
obligations  under this Plan are purely  contractual  and shall not be funded or
secured in any way.

     Section 3.04. Construction of Plan. The Association shall have the power to
construe  this Plan and to determine  all questions of fact or law arising under
it.  It  may  correct  any  defect,   supply  any  omission  or  reconcile   any
inconsistency  in this  Plan in such  manner  and to such  extent as it may deem
appropriate.

                                   ARTICLE IV
                        AMENDMENT OR TERMINATION OF PLAN

     Section 4.01.  Termination.  The Association may at any time terminate this
Plan.  The  Association  shall treat all Directors as if they had ceased being a
Director on the effective date of the  termination of this Plan and shall pay to
each such Director monthly amounts  determined in accordance with Article II and
based on their Vested Percentages and the rate of Director Fees in effect on the
date on which this Plan is terminated.

     Section 4.02.  Amendment.  The Association may amend the provisions of this
Plan at any time;  provided,  however,  that no amendment shall adversely affect
the rights of  Directors  or their  Beneficiaries  with  respect to the  amounts
payable had this Plan terminated immediately prior to the amendment.

                                    ARTICLE V
                                  MISCELLANEOUS

     Section 5.01. Successors. This Plan shall be binding upon the successors of
the Association.

     Section 5.02.  Duration of Plan. Subject to Section 4.01 of this Plan, this
Plan shall  terminate on the date on which each  Director's  benefits  have been
distributed in full pursuant to the terms of this Plan.

     Section 5.03.  Choice of Law. This Plan shall be construed and  interpreted
pursuant to, and in accordance with, the laws of the State of Indiana.

     Section 5.04. Non-Alienation. No Director or his Beneficiary shall have any
right to  anticipate,  pledge,  alienate or assign any of his rights  under this
Plan, and any effort to do so shall be null and void. The benefits payable under
this Plan shall be exempt from the claims of  creditors or other  claimants  and
from all orders,  decrees,  levies and executions and any other legal process to
the fullest extent that may be permitted by law.

     Section 5.05. Gender and Number. Words in one (1) gender shall be construed
to include the other genders where appropriate;  words in the singular or plural
shall be construed as being in the plural or singular where appropriate.

     Section  5.06.  Headings.   The  headings  in  this  Plan  are  solely  for
convenience of reference and shall not affect its interpretation.

     Section 5.07.  Disclaimer.  The  Association  makes no  representations  or
assurances and assumes no  responsibility  as to the performance by any parties,
solvency,  compliance with state and federal securities  regulation or state and
federal tax consequences of this Plan or participation  therein. It shall be the
responsibility of the respective Directors to determine such issues or any other
pertinent issues to their own satisfaction.

     Section 5.08. Legal Fees. The Association agrees to pay as incurred, to the
full extent permitted by law, all legal fees and expenses which the Director may
reasonably incur as a result of any contest  (regardless of the outcome thereof)
by the Association, the Director or others of the validity or enforceability of,
or liability under, any provision of this Plan.


     This Plan has been executed on this _____ day of August, 2001, but shall be
effective as of June 27, 2001.


                                     MICHIGAN CITY SAVINGS AND
                                     LOAN ASSOCIATION


                                     By:
                                        -------------------------------

                                     Its: President
                                          -----------------------------