Exhibit 10.3



                        AMENDMENT TO EMPLOYMENT AGREEMENT

                                  July 15, 1998

     Reference is made to that certain Employment  Agreement dated September 12,
1994 and amended by amendments dated March 31, 1996 and April 28, 1997,  between
Springfield Institution for Savings and ("SIS") and John F. Treanor ("Employee")
(the "Employment Agreement")

     This  Amendment is intended to amend  certain  provisions  contained in the
Employment  Agreement,  and is being entered into as of the date set forth above
by and among SIS and  Employee.  The  Employment  Agreement as and to the extent
amended by this Amendment,  is and shall continue to be in full force and effect
and shall be affected by this Amendment only to the extent specified herein.

     In  consideration  of  the  premises  and  mutual  premises  and  covenants
contained  herein,  and other good and valuable  consideration,  the receipt and
adequacy of which is hereby acknowledged, the parties hereby agree as follows:


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     1. The  first  sentence  of  Section  4(a)  (Termination  Benefits)  of the
Employment Agreement shall be and hereby is amended and restated in its entirety
to read as follows:

     Upon the termination of the Executive's employment by the Bank as described
in Section 3(a) hereof, the Bank shall be obligated to make a lump sum severance
payment, within thirty (30) days of such termination to the Executive, or in the
event of his subsequent death, his beneficiary or beneficiaries,  or his estate,
as the case may be, in an amount  equal to the sum of two (2) year's  salary (at
the then applicable  annual salary of the Executive) plus twice the annual bonus
received by the  Executive  with  respect to the most recent year ended prior to
the termination of the Executive's employment as to which the Executive received
a bonus

     2. The  first  sentence  of  Section  4(b)  (Termination  Benefits)  of the
Employment Agreement shall be and hereby is amended and restated in its entirety
to read as follows:

     Upon the termination of the Executive's employment by the Bank as described
in Section 3(b) hereof, the Bank shall be obligated to make a lump sum severance
payment, within thirty (30) days of such termination to the Executive, or in the
event of his subsequent death, his beneficiary or beneficiaries,  or his estate,
as the case may be, in an amount  equal to the sum of one (1) year's  salary (at
the then applicable  annual salary of the Executive) plus an amount equal to the
bonus received by the Executive with respect to the most recent year ended prior
to the  termination  of the  Executive's  employment  as to which the  Executive
received a bonus.


     IN WITNESS  WHEREOF,  SIS has caused  this  Amendment  to be  executed  and
delivered  by its  duly  authorized  officers  and  Employee  has  executed  and
delivered this Amendment in his individual capacity,  all as of the day and year
first above written.


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                                     SPRINGFIELD INSTITUTION FOR SAVINGS

                                     /s/  F. William Marshall, Jr.
                                     Name:  F. William Marshall, Jr.
                                     Title:  President & CEO


                                     /s/  John F. Treanor
                                     John F. Treanor