<PAGE>
<PAGE>
                 U.S. SECURITIES AND EXCHANGE COMMISSION
                       Washington, D.C.  20549
  
                               FORM 10-QSB

[ X ]    Quarterly Report under Section 13 or 15(d) of the
         Securities Exchange Act of 1934

For the quarterly period ended March 31, 1998 

Commission File Number: 333-20489


                     Rocky Ford Financial, Inc.
----------------------------------------------------------------
(Exact Name of Small business Issuer as Specified in Its Charter)

          Delaware                                84-1413346
-------------------------------                -----------------
(State or Other Jurisdiction of                (I.R.S. Employer 
Incorporation or Organization)              Identification Number)

           801 Swink Avenue, Rocky Ford, Colorado  81067
-----------------------------------------------------------------
              (Address of Principal Executive Offices)
 
                              719-254-7642
-----------------------------------------------------------------
             (Issuer's Telephone Number, Including Area Code)

    
       Check whether the issuer's: (1) filed all reports required
to be filed by Section 13 or 15(d) of the Exchange Act during the
past 12 months (or for such shorter period that the registrant
was required to file such reports), and (2) has been subject to
such filing requirements for the past 90- days.
    
       Yes  X       No        
          ----         ----    
       State the number of shares outstanding of each of the
issuer's classes of common equity, as of the latest practicable
date: 

Shares of common stock outstanding as of March 31, 1998
                               423,200
<PAGE>
<PAGE>

                     ROCKY FORD FINANCIAL, INC.
                                 
                             CONTENTS
                                    
    
    PART I - FINANCIAL INFORMATION 
    
Item 1:  Financial Statements 

         Consolidated Statement of Condition at 
         March 31, 1998 and September 30, 1997               3
                    
         Statements of Consolidated Income for the
         Six Months and Three Months Ended 
         March 31, 1998 and 1997                             4

         Statements of Consolidated Cash Flows for the
         Six Months Ended March 31, 1998 and 1997            5
                                                               
         Notes to Financial Statements                     6 - 7
                                                               
Item 2:  Management's Discussion and Analysis of 
         Financial Condition and Results of 
         Operations                                        8 - 10
                                                               
PART II - OTHER INFORMATION
                                                               
     Item 1:  Legal Proceedings                             11
                                                                 
     Item 2:  Changes in Securities                         11
                                                               
     Item 3:  Defaults Upon Senior Securities               11
                                                               
     Item 4:  Submission of Matters to a Vote 
              of Security Holders                           11
                                                               
     Item 5:  Other Information                             11
                                                               
     Item 6:  Exhibits and Reports on Form 8-K              11
                                                               
     Signature                                              11

                             2
<PAGE>
<PAGE>
                   ROCKY FORD FINANCIAL, INC.

             CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION
                            (UNAUDITED)
<TABLE>
<CAPTION>
                                            March 31,      September 30,
                                              1998             1997
                                           ----------       ------------
               ASSETS
<S>                                        <C>             <C>
Cash and cash equivalents                  
   Interest - bearing                     $ 3,400,000     $ 2,900,000
   Non-interest bearing                       247,836         305,382
Certificates of deposit                     1,602,277       1,999,312
Securities available for sale
   Equity securities (amortized cost
   of $11,327)                                548,757         409,218
Securities held to maturity
   Mortgage-backed securities (estimated
     market value of $2,197,700 and
     $2,629,000)                            2,102,936       2,421,308
   U.S. agencies (estimated market value
     of $753,000 and $743,000)                749,082         748,965
Loans receivable - net                     13,554,780      13,529,566
Federal Home Loan Bank stock, at cost         336,200         323,500
Retirement trust assets                       251,687         251,687
Accrued interest receivable                   136,285         146,769
Premises and equipment                         75,842          83,270
Prepaids                                       24,466          45,910
                                          -----------     -----------
     TOTAL ASSETS                         $23,030,148     $23,164,887
                                          ===========     ===========

           LIABILITIES AND EQUITY        

Deposits                                  $15,779,150     $16,139,404 
Advances from borrowers for taxes and
  insurance                                    53,644          35,562
Accounts payable and accrued expenses         327,676         372,700
Current income taxes                           31,500               -
Deferred income taxes                         223,500         169,400
                                          -----------     -----------
     TOTAL LIABILITIES                     16,415,470      16,717,066
                                          -----------     -----------
Commitments and contingencies

Preferred stock - $.01 par value;
  authorized 1,000,000 shares; no
  shares issued or outstanding                      -               -
Common stock-$.01 par value;              
  authorized 3,000,000 shares;
  issued and outstanding 423,200 
  shares                                        4,232           4,232
Paid-in capital                             3,837,887       3,830,582
Retained earnings - substantially
  restricted                                2,734,138       2,700,923
Net unrealized gain on securities
  available for sale, net of tax of
  $198,850 and $158,600                       338,554         250,644
Note receivable from ESOP Trust              (300,133)       (338,560)
                                          -----------     -----------
     TOTAL EQUITY                           6,614,678       6,447,821
                                          -----------     -----------
     TOTAL LIABILITIES AND EQUITY         $23,030,148     $23,164,887
                                          ===========     ===========
</TABLE>
SEE NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
                              3
<PAGE>
<PAGE>
                     ROCKY FORD FINANCIAL, INC.

                  CONSOLIDATED STATEMENTS OF INCOME
                          (UNAUDITED)

<TABLE>
<CAPTION>
                                      Three Months Ended        Six Months Ended
                                          March 31,                 March 31, 
                                      ---------------------    --------------------
                                         1998        1997        1998        1997  
                                      ----------  ---------    --------    --------
<S>                                   <C>         <C>          <C>         <C>
INTEREST INCOME
  Loans receivable                    $291,114    $272,494     $584,206    $554,826
  Securities held                       64,432      55,791      128,751     122,000
  Other interest-bearing assets         68,253      62,770      139,129     117,075
                                      --------    --------     --------    --------
     TOTAL INTEREST INCOME             423,799     391,055      852,086     793,901

INTEREST ON DEPOSITS                   187,381     206,380      386,356     413,276
                                      --------    --------     --------    --------
     NET INTEREST INCOME               236,418     184,675      465,730     380,625

(PROVISION FOR) RECOVERY OF LOAN 
  LOSSES                                     -           -            -           -
                                      --------    --------     --------    --------
     NET INTEREST INCOME AFTER
       PROVISION FOR LOAN LOSSES       236,418     184,675      465,730     380,625
                                      --------    --------     --------    --------
NON-INTEREST INCOME
    Other charges                        3,041       4,102        4,867       7,349
                                      --------    --------     --------    --------
NON-INTEREST EXPENSE
  GENERAL AND ADMINISTRATIVE
     Compensation and benefits          84,712     292,090      156,408     352,656
     Occupancy and equipment             6,847       8,269       15,162      16,059
     Computer services                  11,144       8,439       19,435      16,462
     SAIF deposit insurance              4,382       2,357        8,849      13,910
     Other                              51,672      25,296      114,393      54,673
                                      --------    --------     --------    --------
      TOTAL NON-INTEREST EXPENSE       158,757     336,451      314,247     453,760
                                      --------    --------     --------    --------
      INCOME (LOSS) BEFORE TAXES        80,702    (147,674)     156,350     (65,786)

INCOME TAX (EXPENSE) BENEFIT           (37,733)     54,509      (64,733)     29,209
                                      --------    --------     --------    --------

      NET INCOME (LOSS)               $ 42,969    $(93,165)    $ 91,617    $(36,577)
                                      ========    ========     ========    ========

BASIC EARNINGS PER COMMON SHARE       $   0.11                 $   0.23
                                      ========                 ========

DILUTED EARNINGS PER COMMON SHARE     $   0.11                 $   0.23
                                      ========                 ========
WEIGHTED AVERAGE COMMON SHARES
OUTSTANDING BASIC                      396,116                  396,116
            DILUTED                    396,116                  396,116

DIVIDENDS PER SHARE                                            $   0.15
</TABLE>
SEE NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
                              4<PAGE>
<PAGE>
                     ROCKY FORD FINANCIAL, INC.
               CONSOLIDATED STATEMENTS OF CASH FLOWS
                          (UNAUDITED)
<TABLE>
<CAPTION>
                                                      Six Months Ended
                                                          March 31,
                                                 ---------------------------- 
                                                    1998             1997
                                                 ----------       -----------
<S>                                              <C>              <C>
CASH FLOWS FROM OPERATING ACTIVITIES:
  Net income (loss)                             $    91,617     $   (36,577)
                                                -----------     -----------
  Adjustments to reconcile net income to
    net cash provided by operating activities:
  Amortization of:
    Deferred loan origination fees                   (4,331)         (8,155)
    Discounts on investments                           (117)           (490)
  Stock dividend received from FHLB                 (12,700)         (9,900)
  ESOP market value expense                          11,876               -
  Depreciation                                        7,428          10,016
  Change in assets and liabilities
     Accrued interest receivable                     10,484             (98)
     Prepaids                                        21,444             (12)
     Accounts payable and accrued expenses          (45,024)         35,408 
     Current income taxes                            31,500               -
     Deferred income taxes                            2,471         (19,909)
                                                -----------     -----------
      TOTAL ADJUSTMENTS                              23,031           6,860 
                                                -----------     -----------
      NET CASH PROVIDED (USED) BY OPERATING 
        ACTIVITIES                                  114,648         (29,717)
                                                -----------     -----------
CASH FLOWS FROM INVESTING ACTIVITIES
  Net change in certificates of deposit             397,035         100,000
  Loan originations and principal payments
    on loans                                        (20,883)       (284,327)
  Purchase of investment securities held
    to maturity                                           -        (248,836)
  Principal payments on mortgage-backed
    securities                                      318,372          58,719
  Capital purchases                                       -          (4,630)
  Conversion costs capitalized                            -        (214,554)
  Payment received on ESOP note                      33,856               -
                                                -----------     -----------
      NET CASH PROVIDED (USED) BY INVESTING
        ACTIVITIES                                  728,380        (593,628)
                                                -----------     -----------
CASH FLOWS FROM FINANCING ACTIVITIES
  Dividends paid                                    (58,402)              -
  Net change in deposits                           (360,254)        862,499
  Net change in mortgage escrow funds                18,082          21,323 
                                                -----------     -----------
      NET CASH PROVIDED (USED) BY FINANCING
        ACTIVITIES                                 (400,574)        883,822
                                                -----------     -----------
      NET INCREASE IN CASH AND CASH EQUIVALENTS     442,454         260,477 
CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR    3,205,382       2,221,416
                                                -----------     -----------
CASH AND CASH EQUIVALENTS AT END OF YEAR        $ 3,647,836     $ 2,481,893
                                                ===========     ===========
SUPPLEMENTAL DISCLOSURE OF CASH FLOWS
Cash paid for:
  Taxes                                         $    10,528     $    20,367
  Interest                                          390,585         105,290
</TABLE>
SEE NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
                              5<PAGE>
<PAGE>
                     ROCKY FORD FINANCIAL, INC.
           NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
                          (UNAUDITED)
                                
                         March 31, 1998 
Note 1.  Nature of Business
Rocky Ford Financial, Inc. (the "Company") was incorporated under
the laws of the State of Delaware for the purpose of becoming
the holding company of Rocky Ford Federal Savings and Loan
Association (the "Association") in connection with the
Association's conversion from a federally chartered mutual
savings and loan association to a federally chartered stock
savings and loan association, pursuant to its Plan of
Conversion.  The Company was organized in January 1997 to
acquire all of the common stock of Rocky Ford Federal Savings
and Loan Association upon its conversion to stock form.  The
subscription and community offering of the Company's shares was
completed on May  21, 1997.

Note 2.  Basis of Presentation
The accompanying unaudited consolidated financial
statements,(except for the statement of financial condition at
September 30, 1997, which is audited) have been prepared in
accordance with generally accepted accounting principles for
interim financial information and with the instructions to Form
10-QSB of Regulation S-X.  Accordingly, they do not include all
of the information and footnotes required by generally accepted
accounting principles for complete financial statements.  In the
opinion of management all adjustments necessary for a fair
presentation of the financial position and results of operations
for the periods presented have been included.  The financial
statements of the Company are presented on a consolidated basis
with those of Rocky Ford Federal Saving and Loan Association. 
The account balances include only the accounts and operations of
Rocky Ford Federal Savings and Loan Association prior to May 21,
1997. The results of operations for the six months ended March
31, 1998 are not necessarily indicative of the results of
operations that may be expected for the year ended September 30,
1998.  The preparation of financial statements in conformity
with generally accepted accounting principles requires
management to make estimates and assumptions that affect the
reported amounts of assets and liabilities and the disclosure of
contingent assets and liabilities at the date of the financial
statements and the reported amounts of revenues and expenses
during the reporting period.  Actual results could differ from
those estimates.

The accounting policies followed are as set forth in Note 1. of
the Notes to Financial Statements in the 1997 Rocky Ford
Financial, Inc.  financial statements
    
Note 3.  Regulatory Capital Requirements
At March 31, 1998, the Association met each of the three current
minimum regulatory capital requirements.  The following table
summarizes the Association's regulatory capital position at
March 31, 1998:

Tangible Capital:
     Actual           $4,656,000             22.08%
     Required            316,000              1.50
     Excess           $4,340,000             20.58%

Core Capital:
     Actual           $4,656,000             22.08%
     Required            633,000              3.00
     Excess           $4,023,000             19.08%
    
Risk-Based Capital:
     Actual           $4,716,000             55.62%
     Required            678,000              8.00
     Excess           $4,038,000             47.62%
    
                             6<PAGE>
<PAGE>
            ROCKY FORD FINANCIAL, INC.
      NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
                      (UNAUDITED)
                           
                   March 31, 1998 

    Note 3.  Regulatory Capital Requirements (Continued)
    
    Tangible and core capital levels are shown as a percentage of
    total adjusted assets; risk-based capital levels are shown as
    a percentage of risk-weighted assets.
    
    Note 4.  Mutual to Stock Conversion
    
    On January 14, 1997, The Board of Directors of the
    Association adopted a Plan of Conversion (the Plan) under
    which the Association would convert from a federally charted
    mutual savings and loan association to a federally chartered
    stock savings and loan association and become a wholly-owned
    subsidiary of the Company formed in connection with the
    Conversion.  The Plan was approved by the Office of Thrift
    Supervision (OTS) and included the filing of a registration
    statement with Securities and Exchange Commission.  The Plan
    was approved by the members of the Association at a special
    meeting held May 6, 1997.  In accordance with the Plan, the
    Company issued common stock which was sold in the Conversion. 
    The closing of the offering occurred on May 21, 1997 and
    resulted in a stock offering of $4,232,000 (including
    $331,560 in shares subscribed by the ESOP).  The Company
    transferred fifty percent of the net proceeds for the
    purchase of all of the capital stock of the Association.
    
    The costs of issuing the common stock were deferred and was
    deducted from the proceeds of the stock sale and amounted to
    $410,186.
    
    For the purpose of granting eligible members of the
    Association a priority in the event of future liquidation,
    the Association, at the time of conversion, established a
    liquidation account equal to its regulatory capital as of the
    date of the latest balance sheet used in the final conversion
    offering circular.  In the event (and only in such event) of
    future liquidation of the converted Association, an eligible
    savings account holder who continues to maintain a savings
    account shall be entitled to receive a distribution from the
    liquidation account, in the proportionate amount of the then-
    current adjusted balance of the savings deposits then held,
    before any distributions may be made with respect to capital
    stock.
    
    The Association may not declare or pay a cash dividend on its
    common stock if its net worth would thereby be reduced below
    either the aggregate amount then required for the liquidation
    account or the minimum regulatory capital requirements
    imposed by federal regulations
    
    The ESOP stock purchases were financed by issuing a note to
    the Company for the entire purchase.
    
    Note 5.  Earnings Per Share
    
    The Company adopted Financial Accounting Standards Board
    Statement No. 128 relating to earnings per share, effective
    for the quarter ended December 31, 1997.  The statement
    requires dual presentations of basic and diluted earnings per
    share on the face of the income statement.  Basic EPS
    excludes dilution and is computed by dividing income
    available to common stockholders by the weighted-average
    number of common shares outstanding for the period.  Diluted
    EPS reflects the potential dilution that could occur if
    securities or other contracts to issue common stock were
    exercised or converted into common stock or resulted in the
    issuance of common stock that then shares in the earnings of
    the entity.
<PAGE>
    Note 6  Dividends Paid
    
    On January 12, 1998, the Board of Directors declared a cash
    dividend of $0.15 per share to stockholders of record as of
    February 16, 1998 and payable on February 25, 1998.
                            7<PAGE>
<PAGE>
               ROCKY FORD FINANCIAL, INC.
        MANAGEMENT'S DISCUSSION AND ANALYSIS
                          
COMPARISON OF FINANCIAL CONDITION AT MARCH 31, 1998 AND
SEPTEMBER 30, 1997

The Company's total assets decreased by $135 thousand or .58%
from $23.2 million at September 30, 1997 to $23.0 million at
March 31, 1998.  The decrease is attributed to the reduction of
investments, with the cash received used to cover the decrease
in deposit accounts of $360,000.

The Company's net loan portfolio increased by approximately $25
thousand during the six months ended March 31, 1998.  Net loans
totaled $13.55 million at March 31, 1998 and $13.53 million
September 30, 1997.

The allowance for loan losses totaled $60,000 at March 31, 1998
and September 30, 1997.  As of those dates the Company did not
have any non-performing loans in its portfolio.  There were no
loans charged off or recoveries of previous loan losses during
the six months ended March 31, 1998.  The determination of the
allowance for loan losses is based on management's analysis,
performed on a quarterly basis, of various factors, including
the market value of the underlying collateral, growth and
composition of the loan portfolio, the relationship of the
allowance for loan losses to outstanding loans, historical loss
experience, delinquency trends and prevailing economic
conditions.  Although management believes its allowance for loan
losses is adequate, there can be no assurance that additional
allowances will not be required or that losses on loans will not
be incurred.  The Company has had minimal losses on loans in
prior years.  At March 31, 1998, the ratio of the allowance for
loan losses to net loans was .44% as compared to .44% at
September 30, 1997.

At March 31, 1998, the Company's investment portfolio included
mortgage-backed and related securities classified as "held to
maturity" carried at amortized cost of $2.9 million and an
estimated fair value of $3.0 million, and equity securities
classified as "available for sale" with an estimated fair value
of $549 thousand.  The balance of the Company's investment
portfolio at March 31, 1998 consists of interest bearing
deposits with various financial institutions totaling $5.0
million.

At March 31, 1998 deposits decreased to $15.8 million from $16.1
million at September 30, 1997 or a net decrease of 2.23%. 
Management is continually evaluating the investment alternatives
available to the Company's customers, and adjusts the pricing on
its savings products to maintain its existing deposits.

COMPARISON OF OPERATING RESULTS FOR THE SIX MONTHS ENDED MARCH
31, 1998 AND 1997

Net Income.  The Company's net income for the six months ended
March 31, 1998 was $91,617 compared to net loss of $(36,577) for
the six months ended March 31, 1997.  The increase in net
earnings for the six months ended March 31, 1998 resulted
primarily from the recognition of benefit plans adopted that
became effective as of March 31, 1997 in the approximate amount
of $142,000 net of deferred income tax effect, less the effects
of professional services incurred in the current period as a
result of the added reporting and legal requirements and the
increase in net interest income.

Net Interest Income.  Net interest income for the six months
ended March 31, 1998 was $466,000 compared to $381,000 for the
six months ended March 31, 1997.  The increase in net interest
income for the six months ended March 31, 1998 was due to an
increase in the interest earning assets of $1.8 million received
from the conversion and a reduction in deposits of $2.2 million.

Interest Income.  Interest income increased by $58,000 from
$794,000 to $852,000 or by 7.30%, during 1998 compared to 1997. 
This increase resulted in part from an overall increase of
interest-earning assets by $1,785,000 from $20,611,000 to
$22,396,000 or by 8.66% from 1998 to 1997.  The Company
experienced a decrease in the average yield on the interest-
earning assets from 7.74% in 1997 to 7.64% in 1998
                          8<PAGE>
<PAGE>
             ROCKY FORD FINANCIAL, INC.
        MANAGEMENT'S DISCUSSION AND ANALYSIS
                          
Interest Expense.  Interest expense decreased $27,000 to
$386,000 for the six months ended March 31, 1998 from $413,000
for the six months ended March 31, 1997.  The change was caused
by the increase of the average rate paid from 4.75% in 1997 to
4.87% in 1998 with a corresponding decrease in average deposits
from $17,495,000 in 1997 to $15,882,000 in 1998.

Provision for Loan Losses.  The allowance for loan losses is
established through a provision for loan losses based on
management's evaluation of the risk inherent in its loan
portfolio and the general economy.  Such evaluation considers
numerous factors including, general economic conditions, loan
portfolio composition, prior loss experience, the estimated fair
value of the underlying collateral and other factors that
warrant recognition in providing for an adequate loan loss
allowance.

The Company determined a provision for loan loss was not
required for the six months ended March 31, 1998 and 1997.

Non-Interest Expense.  The decrease in the non-interest expense
section of the consolidated statement of income is attributed to
expense recognized in accordance with benefit plans adopted by
the board effective March 31. 1997, in amount of $226,000 less
the effect of professional expenses incurred in the current
period due to additional reporting requirements.

COMPARISON OF OPERATING RESULTS FOR THE THREE MONTHS ENDED MARCH
31, 1998 AND 1997

Net Income.  The Company's net income for the three months ended
March 31, 1998 was $42,969 compared to a net loss of $(93,165)
for the three months ended March 31, 1997.  The increase is
attributed to the recognition as of March 31, 1997 benefit plans
in the approximate amount of $142,000, net of deferred income
tax effect, less the effect of professional services incurred in
the current period as a result of added reporting and legal
requirements, and the increase in net interest income.

Net Interest Income.  Net interest income for the three months
ended March 31, 1998 was $236,000 compared to $185,000 for the
three months ended March 31, 1997.  The increase is attributed
to increase in interest earning assets due to the stock issuance
and the decrease in deposits for the current period.

Non-Interest Expense.  The decrease in non-interest expenses
from $336,000 for the three months ended March 31, 1997 to
$159,000 for the three months ended March 31, 1998 is due to the
recognition of benefit plans adopted by the board that become
effective March 31, 1997 in the amount of $226,000.

LIQUIDITY AND CAPITAL RESOURCES

The Company's primary sources of funds consists of deposits,
repayment of loans and mortgage-backed securities, maturities of
investments and interest-bearing deposits, and funds provided
form operations.  While scheduled repayments of loans and
mortgage-backed securities and maturities of investment
securities are predicable sources of funds, deposit flows and
loan prepayments are greatly influenced by the general level of
interest rates, economic conditions and competition.  The
Company uses its liquidity resources principally to fund
existing and future loan commitments, to fund maturing
certificates of deposit and demand deposit withdrawals, to
invest in other interest-earning assets, to maintain liquidity,
and to  meet operating expenses.  Management believes that
proceeds from the stock sale, loan repayments and other sources
of funds will be adequate to meet the Company's liquidity needs
for the immediate future.

                          9<PAGE>
<PAGE>
             ROCKY FORD FINANCIAL, INC.
        MANAGEMENT'S DISCUSSION AND ANALYSIS


LIQUIDITY AND CAPITAL RESOURCES CONTINUED

The Association is required to maintain minimum levels of liquid
assets as defined by OTS regulations.  This requirement, which
may be varied at the direction of the OTS depending upon
economic conditions and deposit flows, is based upon a
percentage of deposits and short-term borrowings.  The required
minimum ratio was 5% until November 24, 1997 when it was changed
to 4%.  The Company has historically maintained a level of
liquid assets in excess of regulatory requirements.  The
Company's liquidity ratios at March 31, 1998 and 1997 were 20%
and 24%, respectively.  

IMPACT OF INFLATION AND CHANGING PRICES

The financial statements and related data presented herein have
been prepared in accordance with generally accepted accounting
principles, which require the measurement of financial position
and results of operations in terms of historical dollars without
considering changes in the relative purchasing power of money
over time because of inflation.  Unlike most industrial
companies, virtually all of the assets and liabilities of the
Company are monetary in nature.  As a result, interest rates
have a more significant impact on the Company's performance than
the effects of general levels of inflation.  Interest rates do
not necessarily move in same direction or in the same magnitude
as the prices of goods and services.

YEAR 2000 ISSUE

The Company is evaluating the potential effect of the year 2000
on its information processing systems.  Because critical computer
systems and software are vendor maintained, the Company is not
directly involved with programming changes or application
upgrades.  The Company expects the providers to be compliant on a
timely basis and plans to test the compliance efforts.  The
association's primary data processor has indicated that
renovations to the system for year 2000 compliance with be
complete in May 1998.  Testing on this system will begin in July
1998 and continue into 1999.  Testing has already begun on other
systems and will continue into 1999.  It is management's opinion
that the modifications will not have a material effect on the
Company's financial position.  All costs associated with
modifications will be expensed as incurred.

                         10

<PAGE>
<PAGE>
             ROCKY FORD FINANCIAL, INC.
                           
              PART II - OTHER INFORMATION

    
    ITEM 1: Legal Proceedings
    
            None.
    
    ITEM 2: Changes in Securities
    
            None.
    
    ITEM 3: Defaults Upon Senior Securities
    
            Not Applicable
    
    ITEM 4: Submission of Matters to a Vote of Security Holders.
    
            On January 22, 1998, the Annual Meeting of the
            Stockholders was held for the election of two
            directors of the Company for  three-year terms,
            approval of the Rocky Ford Financial, Inc. 1997
            Stock Option and Incentive Plan, and approval of the
            Rocky Ford Financial, Inc. Management Recognition
            Plan.  There were outstanding and entitled to vote
            423,200 shares of common stock of the Company.
            
            There were represented at the Annual Meeting in
            person or by proxy the holders of 392,267 shares of
            the Company's common stock, representing 92.69% of
            the total votes eligible to be cast, constituting
            more than a majority of the outstanding shares
            entitled to vote.
                    
            The following is a record of the votes cast:
<TABLE>
<CAPTION>

                                                Vote 
                                   ---------------------------------
                                             Against or
                                   For       Withheld       Abstain
                                   ---       ----------     --------
<S>                                <C>        <C>            <C>
Election of Directors:
  Norman L. Bailey                 379,767    12,500          0
  R. Dean Jones                    279,767    12,500          0
    
Stock Option and Incentive Plan    285,062    94,705          12,500
    
Management  Recognition Plan       275,812   103,955          12,500
</TABLE>
    
    ITEM 5: Other Information
    
            None
    
    ITEM 6: Exhibits and Reports on Form 8-K
    
            Exhibit 27 - Financial Data Schedule
<PAGE>
    SIGNATURE
    
    Pursuant to the requirements of the Securities Exchange Act
of 1934, the registrant has duly caused this report to be signed
on its behalf by the undersigned thereunto duly authorized.
    
    
                             Rocky Ford Financial, Inc.
                             Registrant
    
Date April 30, 1998          /s/ Keith E  Waggoner
                             ----------------------------
                             Keith E. Waggoner, President

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