EXHIBIT 10.1

                            EMPLOYMENT AGREEMENT


     THIS EMPLOYMENT AGREEMENT (hereinafter referred to as this "AGREEMENT") 
is entered into as of the 15th day of December, 1996, by and between Home 
City Federal Savings Bank of Springfield, a savings bank chartered under the 
laws of the United States (hereinafter referred to as the "EMPLOYER"), and 
Douglas L. Ulery, an individual (hereinafter referred to as the "EMPLOYEE");

WITNESSETH:

     WHEREAS, the EMPLOYEE is currently employed as the President and Chief 
Executive Officer of the EMPLOYER;

     WHEREAS, as a result of the skill, knowledge and experience of the 
EMPLOYEE, the Board of Directors of the EMPLOYER desires to retain the 
services of the EMPLOYEE as the  President and Chief Executive Officer of the 
EMPLOYER;

     WHEREAS, the EMPLOYEE desires to continue to serve as the President and 
Chief Executive Officer of the EMPLOYER; and

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

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

1.   Employment and Term.

     (a)     Term.  Upon the terms and subject to the conditions of this 
AGREEMENT, the EMPLOYER hereby employs the EMPLOYEE, and the EMPLOYEE hereby 
accepts employment, as the President and Chief Executive Officer of the 
EMPLOYER.  The TERM of this AGREEMENT shall commence on the effective date of 
the EMPLOYER's conversion from mutual to stock form and shall end thirty-six 
(36) months thereafter, subject to extension pursuant to subsection (b) of 
this Section 1 (hereinafter, including any such extensions, referred to as the 
"TERM"), and to earlier termination as provided herein.

     (b)    Extension.  Prior to each anniversary of the date of this 
AGREEMENT, the Board of Directors of the EMPLOYER shall review this AGREEMENT 
and document its approval of this AGREEMENT in the board minutes.  In 
connection with such annual review, the TERM shall be extended for a one-year 
period beyond the then-effective expiration date, provided the Board of 
Directors of the EMPLOYER determines in a duly adopted resolution that this 
AGREEMENT should be extended.  Any such extension shall be subject to the 
written consent of the EMPLOYEE.
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2.   Duties of EMPLOYEE.

     (a)     General Duties and Responsibilities.  The EMPLOYEE shall serve as 
the President and Chief Executive Officer of the EMPLOYER.  Subject to the 
direction of the Board of Directors of the EMPLOYER, the EMPLOYEE shall have 
responsibility for the general management and control of the business and 
affairs of the EMPLOYER and shall perform all duties and shall have all powers 
which are commonly incident to the office of President and Chief Executive 
Officer or which, consistent therewith, are delegated to him by the Board of 
Directors.  Such duties shall include, but not be limited to, (1) managing the 
day-to-day operations of the EMPLOYER, (2) managing the efforts of the 
EMPLOYER to comply with applicable laws and regulations, (3) marketing of the 
EMPLOYER and its services, (4) supervising other employees of the EMPLOYER, 
(5) providing prompt and accurate reports to the Board of Directors of the 
EMPLOYER regarding the affairs and conditions of the EMPLOYER, and (6) making 
recommendations to the Board of Directors of the EMPLOYER concerning the 
strategies, capital structure, tactics, and general operations of the 
EMPLOYER.

     (b)     Devotion of Entire Time to the Business of the EMPLOYER.  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 other than the EMPLOYER and Home City Financial 
Corporation and their subsidiaries and affiliates without the prior written 
consent of the Board of Directors of the EMPLOYER; provided, however, that the 
EMPLOYEE shall not be precluded from (i) reasonable participation in 
community, civic, charitable or similar organizations; or (ii) the pursuit of 
personal investments which do not interfere or conflict with the performance 
of the EMPLOYEE's duties to the EMPLOYER.  Nothing in this section shall limit 
the EMPLOYEE's right to invest in securities of any business that does not 
provide services or products of the type or competing with those provided by 
the EMPLOYER or its subsidiaries or affiliates. 

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 $88,000 until changed by the Board of Directors 
of the EMPLOYER in accordance with Section 3(b) of this AGREEMENT.

     (b)     Annual Salary Review.  On or before each anniversary of the 
effective date of this AGREEMENT, the annual salary of the EMPLOYEE shall be 
reviewed by the Board of Directors of the EMPLOYER and may be maintained or 
increased, in its discretion, based upon the EMPLOYEE's individual performance 
and the overall profitability and financial condition of the EMPLOYER.  The 
results of the annual salary review shall be reflected in the minutes of the 
appropriate meetings of the Board of Directors of the EMPLOYER.
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     (c)     Expenses.  In addition to any compensation received under Section 
3(a) or (b) of this AGREEMENT, the EMPLOYER 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 EMPLOYER pertaining to reimbursement of 
expenses to senior management officials.

     (d)     Employee Benefit Programs.

             (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 
EMPLOYER from time to time, including programs in respect of group health, 
disability or life insurance, and all employee benefit plans or programs 
hereafter adopted in writing by the Board of Directors of the EMPLOYER, for
which senior management personnel are eligible, including any employee 
stock ownership plan, stock option plan or other stock benefit plan (here-
inafter collectively referred to as the "BENEFIT PLANS").  Notwithstanding 
any statement to the contrary contained elsewhere in this Agreement, the 
EMPLOYER 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 applicable law, and shall not be required to compensate the 
EMPLOYEE for such discontinuance or termination; and

            (ii)     After the termination of the employment of the EMPLOYEE in
accordance with Section 4(a) of this AGREEMENT, for any reason other than 
JUST CAUSE (as defined hereinafter), the EMPLOYER shall provide, until both
the EMPLOYEE and his spouse become sixty-five (65) years of age, or the 
earlier date the EMPLOYEE obtains substantially equivalent coverage from 
another full-time employer, substantially the same health insurance benefits 
as are available to retired employees of the EMPLOYER on the date of this 
AGREEMENT; provided, however, that all premiums for such benefits shall be paid
by the EMPLOYEE and/or his spouse after the EMPLOYEE's termination; provided 
further, however, that the EMPLOYER'S obligation under this Section 3(d)(ii) 
shall terminate in the event that the EMPLOYER no longer makes available an 
employee group health insurance program which permits the EMPLOYER 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 annual vacation and 
     annual sick leave in accordance with the policies periodically established
     by the Board of Directors of the EMPLOYER for senior management officials 
     of the EMPLOYER; and
<PAGE>
            (ii)     In addition to paid vacations and sick leave, the EMPLOYEE 
     shall be entitled, without loss of pay, to absent himself voluntarily from
     the performance of his employment with the EMPLOYER for such additional 
     period of time and for such valid and legitimate reasons as the Board may,
     in its discretion, determine, and the Board may grant to the EMPLOYEE a 
     leave or leaves of absence, with or without pay, at such time or times and
     upon such terms and conditions as such Board, in its discretion, may 
     determine. 

4.   Termination of Employment.

     (a)     General.  The employment of the EMPLOYEE shall terminate at any 
time during the TERM (i) at the option of the EMPLOYER upon the delivery by 
the EMPLOYER of written notice of employment termination to the EMPLOYEE, or 
(ii) at the option of the EMPLOYEE upon the delivery by the EMPLOYEE of 
written notice of termination to the EMPLOYER if, unless consented to in 
writing by the EMPLOYEE, (A) the present capacity or circumstances in which 
the EMPLOYEE is employed are materially changed (including, without 
limitation, a material reduction in responsibilities or authority, or the 
assignment of duties or responsibilities substantially inconsistent with those 
normally associated with EMPLOYEE's position described in Section 2(a) of this 
AGREEMENT), (B) the EMPLOYEE is no longer the President and Chief Executive 
Officer of the EMPLOYER and HCFC, (C) the EMPLOYEE is required to move his 
personal residence, or perform his principal executive functions, more than 
thirty-five (35) miles from his primary office as of the date of the 
commencement of the TERM of this AGREEMENT, or (D) the EMPLOYER otherwise 
breaches this AGREEMENT in any material respect.

     (b)     Termination for JUST CAUSE.  In the event that the EMPLOYER 
terminates the employment of the EMPLOYEE before the expiration of 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 (other than traffic 
violations or similar offenses) or final cease-and-desist order, 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.

     (c)     Termination in Connection with a CHANGE OF CONTROL.

             (i)     In the event that, in connection with a CHANGE OF CONTROL 
(including, without limitation, a termination other than for JUST CAUSE within 
six months prior to a CHANGE OF CONTROL) or after a CHANGE OF CONTROL, the 
employment of the EMPLOYEE is terminated by the EMPLOYER for any reason other 
than JUST CAUSE before the expiration of the TERM, then the following shall 
occur:

                     (A)     The EMPLOYER shall promptly pay to the EMPLOYEE or 
      to his beneficiaries, dependents or estate an amount equal to the product 
      of three multiplied by the greater of the annual salary set forth in 
<PAGE>
      Section 3(a) of this AGREEMENT or the annual salary payable to the 
      EMPLOYEE as a result of any annual salary review in accordance with 
      Section 3 (b) of this AGREEMENT;

                     (B)     The EMPLOYEE, his dependents, beneficiaries and 
      estate shall continue to be covered under all BENEFIT PLANS in which the 
      EMPLOYEE is a participant immediately prior to the CHANGE OF CONTROL of 
      the EMPLOYER at the EMPLOYER's 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 shall be entitled thereafter to 
      the benefits described in Section 3(d)(ii) of this AGREEMENT; and

                     (C)     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 EMPLOYER hereunder, except as specifically stated in 
      subparagraph (B).

            (ii)     In the event that, within six months prior to or within one
year after a CHANGE OF CONTROL, the employment of the EMPLOYEE is terminated 
by the EMPLOYEE in accordance with Section 4(a)(ii) of this AGREEMENT before 
the expiration of the TERM, then the following shall occur:

                     (A)     The EMPLOYER shall promptly pay to the EMPLOYEE or 
      to his beneficiaries, dependents or estate an amount equal to the product 
      of three multiplied by the average of the annual compensation paid to the
      EMPLOYEE during the most recent five taxable years;

                     (B)     The EMPLOYEE, his dependents, beneficiaries and 
      estate shall continue to be covered under all BENEFIT PLANS in which the 
      EMPLOYEE is a participant immediately prior to the CHANGE OF CONTROL of 
      the EMPLOYER at the EMPLOYER's 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 shall be entitled 
      thereafter to the benefits described in Section 3(d)(ii) of this 
      AGREEMENT; and
<PAGE>
                     (C)     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 EMPLOYER hereunder, except as specifically stated in 
      subparagraph (B).

     In the event that payments pursuant to this subsection (c) 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.  Payments pursuant to this 
subsection (c) also may not exceed applicable limits established by the Office 
of Thrift Supervision (hereinafter referred to as the "OTS").  In the event a 
reduction in payments is necessary in order to comply with the requirements of 
this AGREEMENT relating to the limitations of SECTION 280G or applicable OTS 
limits, the EMPLOYEE may determine, in his sole discretion, which categories 
of payments are to be reduced or eliminated.

     (d)     Termination Without CHANGE OF CONTROL.  In the event that the 
employment of the EMPLOYEE is terminated by the EMPLOYER or is terminated by 
the EMPLOYEE in accordance with Section 4(a)(ii) of this AGREEMENT before the 
expiration of the TERM other than (i) for JUST CAUSE or (ii) in connection 
with or after a CHANGE OF CONTROL, the EMPLOYER shall be obligated (A) to  pay 
to the EMPLOYEE, his designated beneficiaries or his estate, for the remainder 
of the TERM, the salary set forth in Section 3(a) of this AGREEMENT or the 
salary payable to the EMPLOYEE as a result of any annual salary review in 
accordance with Section 3(b) of this AGREEMENT; (B) to provide to the 
EMPLOYEE, at the EMPLOYER's expense, health, life, disability, and other 
benefits as provided in Section 3(d)(i) of this Agreement, until the 
expiration of the TERM or until the earlier date the EMPLOYEE obtains 
substantially equivalent coverage from another full-time employer; and (C) to 
provide to the EMPLOYEE the benefits set forth under Section 3(d)(ii) of this 
AGREEMENT.  In the event that payments pursuant to this subsection (d) 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.  Payments pursuant to this 
subsection also may not exceed the applicable limits established by the OTS.  
In the event a reduction in payments is necessary in order to comply with the 
requirements of this AGREEMENT relating to the limitations of SECTION 280G or 
applicable OTS limits, the EMPLOYEE may determine, in his sole discretion, 
which categories of payments are to be reduced or eliminated.

     (e)     Death of the EMPLOYEE.  The TERM shall automatically terminate 
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.
<PAGE>
     (f)     "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. & sect;1828(k) and any regulations promulgated 
thereunder.

     (g)     Definition of "CHANGE OF CONTROL".  A "CHANGE OF CONTROL" shall 
mean any one of the following events: (i) the acquisition of ownership or 
power to vote more than 25% of the voting stock of the EMPLOYER or HCFC; (ii) 
the acquisition of the ability to control the election of a majority of the 
directors of the EMPLOYER or HCFC; (iii) during any period of two consecutive 
years, individuals who at the beginning of such period constitute the Board of 
Directors of the EMPLOYER or HCFC cease for any reason to constitute at least 
two-thirds thereof; provided, however, that any individual whose election or 
nomination for election as a member of the Board of Directors was approved by 
a vote of at least two-thirds of the directors then in office shall be 
considered to have continued to be a member of the Board of Directors; or (iv) 
the acquisition by any person or entity of "conclusive control" of the 
EMPLOYER within the meaning of 12 C.F.R. §574.4(a), or the acquisition by 
any person or entity of "rebuttable control" within the meaning of 12 C.F.R. 
§574.4(b) that has not been rebutted in accordance with 12 C.F.R. 
§574.4(c).  For purposes of this paragraph, the term "person" refers to 
an individual or corporation, partnership, trust, association, or other 
organization, but does not include the EMPLOYEE and any person or persons with 
whom the EMPLOYEE is "acting in concert" within the meaning of 12 C.F.R. Part 
574.

     (h)     Legal Fees.  EMPLOYER shall promptly pay all legal fees and 
expenses which EMPLOYEE may incur as a result of EMPLOYEE or EMPLOYER 
contesting the validity or enforceability of this AGREEMENT if a court of 
competent jurisdiction renders a final decision in favor of EMPLOYEE with 
respect to any such contest, or to the extent agreed to by EMPLOYER and 
EMPLOYEE in an agreement of settlement with respect to any such contest.

5.   Special Regulatory Events.  Notwithstanding Section 4 of this 
AGREEMENT, the obligations of the EMPLOYER 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 EMPLOYER's 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 EMPLOYER's 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 EMPLOYER shall (i) pay the EMPLOYEE all of the compensation 
withheld while the obligations in this AGREEMENT were suspended and (ii) 
reinstate any of the obligations that were suspended.

     (b)     If the EMPLOYEE is removed and/or permanently prohibited from 
participating in the conduct of the EMPLOYER's affairs by an order issued 
under Section 8(e) (4) or (g) (1) of the FDIA, all obligations of the EMPLOYER 
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.
<PAGE>
     (c)     If the EMPLOYER is 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 EMPLOYER, (i) by the Director of 
the OTS, or his or her designee at the time that the Federal Deposit Insurance 
Corporation enters into an agreement to provide assistance to or on behalf of 
the EMPLOYER 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 EMPLOYER or when the EMPLOYER 
is 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.

6.   Consolidation, Merger or Sale of Assets.  Nothing in this AGREEMENT 
shall preclude the EMPLOYER from consolidating with, merging into, or 
transferring all, or substantially all, of its assets to another corporation 
that assumes all of the EMPLOYER's obligations and undertakings hereunder.  
Upon such a consolidation, merger or transfer of assets, the term "EMPLOYER" 
as used herein, shall mean such other corporation or entity, and this 
AGREEMENT shall continue in full force and effect.

7.   Confidential Information.  The EMPLOYEE acknowledges that during his 
employment he will learn and have access to confidential information regarding 
the EMPLOYER and its 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 
EMPLOYER consents 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 EMPLOYER, its parent, 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 
EMPLOYER.  The EMPLOYEE shall not otherwise knowingly act or conduct himself 
(a) to the material detriment of the EMPLOYER, its subsidiaries, or 
affiliates, or (b) in a manner which is inimical or contrary to the interests 
of the EMPLOYER.

8.   Nonassignability.  Neither this AGREEMENT nor any right or interest 
hereunder shall be assignable by the EMPLOYEE, his beneficiaries, or legal 
representatives without the EMPLOYER's 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.
<PAGE>
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.

10.  Indemnification; Insurance.

     (a)     Indemnification.  The EMPLOYER agrees to indemnify the EMPLOYEE 
and his heirs, executors, and administrators to the fullest extent permitted 
under applicable law and regulations, including, without limitation 12 U.S.C. 
Section 1828(k), against any and all expenses and liabilities reasonably 
incurred by the EMPLOYEE in connection with or arising out of any action, suit 
or proceeding in which the EMPLOYEE may be involved by reason of his having 
been a director or officer of the EMPLOYER or any of its subsidiaries, whether 
or not the EMPLOYEE is a director or officer at the time of incurring any such 
expenses or liabilities.  Such expenses and liabilities shall include, but 
shall not be limited to, judgments, court costs and attorney's fees and the 
cost of reasonable settlements.  The EMPLOYEE shall be entitled to 
indemnification in respect of a settlement only if the Board of Directors of 
the EMPLOYER has approved such settlement.  Notwithstanding anything herein to 
the contrary, (i) indemnification for expenses shall not extend to matters for 
which the EMPLOYEE has been terminated for JUST CAUSE, and (ii) the 
obligations of this Section 10 shall survive the TERM of this AGREEMENT.  
Nothing contained herein shall be deemed to provide indemnification prohibited 
by applicable law or regulation.

     (b)     Insurance.  During the TERM, the EMPLOYER shall provide the 
EMPLOYEE (and his heirs, executors, and administrators) with coverage under a 
directors' and officers' liability policy at the EMPLOYER's expense, at least 
equivalent to such coverage provided to directors and senior officers of the 
EMPLOYER.

11.  Binding Agreement.  This AGREEMENT shall be binding upon, and inure to 
the benefit of, the EMPLOYEE and the EMPLOYER and their respective permitted 
successors and assigns.

12.  Amendment of AGREEMENT.  This AGREEMENT may not be modified or 
amended, except by an instrument in writing signed by the parties hereto.

13.  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.

14.  Severability.  If, for any reason, any provision of this AGREEMENT is 
held invalid, such invalidity shall not affect the other provisions of this 
<PAGE>
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 EMPLOYER (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.

15.  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.

16.  Governing Law; Regulatory Authority.  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 the State of 
Ohio, except to the extent that federal law is governing.  References to the 
OTS included herein shall include any successor primary federal regulatory 
authority of the EMPLOYER.

17.  Effect of Prior Agreements.  This AGREEMENT contains the entire 
understanding between the parties hereto and supersedes any prior employment 
agreement between the EMPLOYER or any predecessor of the EMPLOYER and the 
EMPLOYEE.

18.  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 the EMPLOYER:

               Home City Federal Savings Bank of Springfield
               63 West Main Street
               Springfield, Ohio 45502

     If to the EMPLOYEE:

               Mr. Douglas L. Ulery
               2548 Erter Drive
               Springfield, Ohio 45503
<PAGE>

     IN WITNESS WHEREOF, the EMPLOYER has 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:                              HOME CITY FEDERAL SAVINGS BANK
                                     OF SPRINGFIELD

/s/ JoAnn Holdeman                   /s/ Clark Engelmeier
________________________________     By_________________________________
                                     P. Clark Engelmeier
                                     Chairman of the Board
Attest:

/s/ JoAnn Holdeman                   /s/ Douglas L. Ulery
________________________________     ___________________________________
                                     Douglas L. Ulery