UNITED STATES
               SECURITIES AND EXCHANGE COMMISSION
                      450 5TH STREET, N.W.
                     WASHINGTON, D.C.  20549

                                                  

                           FORM 10-QSB

(Mark One)
 X   QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
     SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended December 31, 1997

                               OR

     TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
     SECURITIES EXCHANGE ACT OF 1934

For the transition period from                          to       
                                 Commission File No.   0-27154   


                      JOACHIM BANCORP, INC.
     (Exact name of registrant as specified in its charter)


             Missouri                                            
                      43-1721475              
(State or other jurisdiction of                                  
      (I.R.S. Employer Identification No.)
incorporation or organization)

De Soto Plaza, De Soto, Missouri                                 
         63020    
(Address of principal executive office)                          
      (Zip Code)


Registrant's telephone number, including area code (314) 586-8821

Not applicable                                                    
                                
(Former name, former address and former fiscal year, if changed
since last report)


Indicate by check mark whether the registrant (1) has filed all
reports required to be filed by Sections 13 or 15(d) of the
Securities Exchange Act of 1934 during the preceding 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      .

Indicate the number of shares outstanding of the issuer's classes
of common stock, as of the latest practicable date.


                       Class              Outstanding January 31, 1998
Common Stock, par value $.01 per share            722,415 Shares
              

              JOACHIM BANCORP, INC. AND SUBSIDIARY

                           FORM 10-QSB

             FOR THE QUARTER ENDED DECEMBER 31, 1997

                              INDEX


                                                                 
                                                    PAGE NO.

<TABLE>
<S>                                                   <C>                      
PART I - Financial Information (Unaudited)

  Consolidated Balance Sheets                         1

  Consolidated Statements of Earnings                 2

  Consolidated Statements of Cash Flows               3

  Notes to Consolidated Financial Statements          4

  Management's Discussion and Analysis of 
    Financial Condition and Results of Operations     5

PART II - Other Information                           9


                JOACHIM BANCORP, INC. AND SUBSIDIARY       
                       Consolidated Balance Sheets
                               (Unaudited)


                                            December 31,     March 31,
    Assets                                       1997          1997 

Cash and cash equivalents                         $  2,311,210  2,091,535
Certificates of deposit                              1,144,003  3,052,899
Securities held to maturity, at amortized cost
  (market value of $3,612,987 and $4,746,611,
   respectively)                                     3,619,721  4,793,178
Stock in Federal Home Loan Bank of Des Moines          288,500    288,500
Mortgage-backed securities held to maturity, 
  at amortized cost (market value of $823,465
  and $820,499, respectively)                          822,912    840,127
Loans receivable, net                               25,291,566 23,771,636
Premises and equipment, net                            477,500    358,133
Foreclosed real estate held for sale, net                 -       126,104
Accrued interest receivable:
  Securities and certificates of deposit               111,202    170,483
  Mortgage-backed securities                             4,550      4,651
  Loans receivable                                     137,573    132,476
Other assets                                            20,726     26,624
     Total assets                                 $ 34,229,463 35,656,346

  Liabilities and Stockholders' Equity

Deposits                                          $ 24,027,831 24,825,297
Accrued interest on deposits                            10,724     25,137
Advances from borrowers for taxes and insurance          6,961    122,711
Other liabilities                                       61,183    143,890
Income taxes payable                                   225,552    204,842
     Total liabilities                              24,332,251 25,321,877
Commitments and contingencies
Stockholders' equity;
  Preferred stock, $.01 par value; 1,000,000
   shares authorized; none issued and outstanding         -          -  
  Common stock, $.01 par value; 5,000,000 shares
   authorized; 760,437 shares issued                     7,604      7,604
  Additional paid-in capital                         7,079,257  7,047,500
  Common stock acquired by ESOP                      (381,172)   (448,440)
  Common stock acquired by MRDP                      (252,248)   (305,615)
  Treasury stock, at cost, 38,022 shares             (544,190)       -  
  Retained earnings - substantially restricted      3,987,961   4,033,420
     Total stockholders' equity                     9,897,212  10,334,469
     Total liabilities and stockholders' equity  $ 34,229,463  35,656,346

See accompanying notes to consolidated financial statements.              


                  JOACHIM BANCORP, INC. AND SUBSIDIARY
                  Consolidated Statements of Earnings
                               (Unaudited)


                                Three Months Ended  Nine Months Ended
                                     December 31,      December 31, 
                                    1997     1996      1997     1996  
Interest income:
  Loans receivable             $  496,452   480,070 1,486,148 1,417,960
  Mortgage-backed securities       13,328    13,824    40,345    41,891
  Securities                       57,238    70,463   197,830   217,558
  Other interest-earning assets    56,591    65,877   167,508   230,375
   Total interest income          623,609   630,234 1,891,831 1,907,784
Interest expense on deposits      271,099   265,083   814,652   810,345
   Net interest income            352,510   365,151 1,077,179 1,097,439
Provision for loan losses           2,000     2,000     6,641     5,500
   Net interest income after
     provision for loan losses    350,510   363,151 1,070,538 1,091,939
Noninterest income:
  Loan service charges              5,418     5,198    15,165    19,736
  NOW service charges               5,162     4,944    14,493    17,030
  Gain on investment in 
   data center                       -         -         -       12,668
  Other                               904     1,756     2,476     4,329
   Total noninterest income        11,484    11,898    32,134    53,763
Noninterest expense:
  Compensation and benefits       170,888   180,093   545,588   532,275
  Occupancy expense                 4,987     5,153    15,843    15,746
  Equipment and data
    processing expense             18,657    17,780    54,980    57,283
  Loss (gain) on foreclosed 
    real estate, net                 -         -       (7,387)     -     
  SAIF deposit insurance premium    3,882    14,503    11,663    43,693
  SAIF deposit special assessment    -         -         -      167,146
  Professional services            33,930    13,206    72,809    54,523
  Other                            33,497    27,520    75,879    87,072
   Total noninterest expense      265,841   258,255   769,375   957,738
   Earnings before income taxes    96,153   116,794   333,297   187,964
Income taxes                       35,725    40,325   124,665    61,325
   Net earnings                  $ 60,428    76,469   208,632   126,639

Basic earnings per common share  $    .09       .11       .30       .18

Diluted earnings per
  common share                   $    .09       .11       .30       .18

Dividends per common share       $   .125      .125      .375      .375


See accompanying notes to consolidated financial statements.

                  JOACHIM BANCORP, INC. AND SUBSIDIARY
                  Consolidated Statements of Cash Flows
                                (Unaudited)
     
                                                         Nine Months Ended
                                                            December 31,    
                                                          1997      1996 
Cash flows from operating activities:
  Net earnings                                     $    208,632    126,639
  Adjustments to reconcile net earnings
    to net cash provided by
    (used for) operating activities:
     Depreciation expense                                17,364     20,685
     ESOP expense                                        99,025     87,931
     MRDP expense                                        53,367     51,105
     Amortization of premiums (discounts),
     net on securities and MBS                            3,457      3,445
     Provision for loan losses                            6,641      5,500
     Loss (gain) on foreclosed real estate, net          (7,387)      -  
     Decrease (increase) in:
       Accrued interest receivable                       54,285    (36,961)
       Other assets                                       5,898     55,637
     Increase (decrease) in:
       Accrued interest on deposits                     (14,413)    (7,486)
       Other liabilities                                (82,707)    (1,003)
       Income taxes payable                              20,710       -  
     Other, net                                          (1,816)    (1,989)
        Net cash provided by (used for)
           operating activities                         363,056    303,503
Cash flows from investing activities:
  Loans receivable:
   Originated                                        (4,497,410)(3,572,775)
   Purchased                                               -    (1,337,688)
   Principal collections                              2,942,007  3,709,552
  Principal collections on 
   mortgage-backed securities                            17,215     19,730
  Securities held to maturity - 
   proceeds from maturity                             1,170,000    500,000
  Certificates of deposit:
   Purchased                                           (600,000)(2,500,000)
   Proceeds from maturity                             2,510,712  1,250,000
  Purchases of premises and equipment                  (136,731)    (6,559)
  Proceeds from sale of (additions to) 
   foreclosed real estate, net                          162,323       -  
        Net cash provided by (used for) 
           investing activities                       1,568,116 (1,937,740)
Cash flows from financing activities:
  Net increase (decrease) in:
   Deposits                                            (797,466)(1,580,425)
   Advances from borrowers for taxes and insurance     (115,750)   (80,671)
  Purchase of treasury stock                           (544,190)      -  
  Cash dividends                                       (254,091)  (264,984)
        Net cash provided by (used for) 
           financing activities                      (1,711,497)(1,926,080)
        Net increase (decrease) in cash 
          and cash equivalents                          219,675 (3,560,317)
Cash and cash equivalents at beginning of period      2,091,535  5,384,802
Cash and cash equivalents at end of period         $  2,311,210  1,824,485
Supplemental disclosures of cash flow information:
  Cash paid during the period for:
   Interest on deposits                            $    829,065    817,831
   Income taxes                                         103,675     24,000
Real estate acquired in settlement of loans        $     28,832    100,816

See accompanying notes to consolidated financial statements.

                  JOACHIM BANCORP, INC. AND SUBSIDIARY
               Notes to Consolidated Financial Statements


(1)The information contained in the accompanying consolidated financial
  statements is unaudited.  In the opinion of management, the financial
  statements contain all adjustments (none of which were other than
  normal recurring entries) necessary for a fair statement of the
  results of operations for the interim periods.  The results of
  operations for the interim periods are not necessarily indicative of
  the results which may be expected for the entire fiscal year.  The
  accompanying consolidated financial statements should be read in
  conjunction with the consolidated financial statements for the year
  ended March 31, 1997 contained in the Annual Report to stockholders
  and as an exhibit filed with Form 10-KSB.

(2)On December 29, 1997, Joachim Bancorp, Inc. (Company) entered into a
  definitive merger agreement (Agreement) with First State Bancshares,
  Inc. (First State) pursuant to which the Company will be merged into
  First State and the Company's wholly-owned subsidiary, Joachim Federal
  Savings and Loan Association, will be merged into First State's
  wholly-owned subsidiary, First State Community Bank.  The Agreement
  provides that each share of the Company's common stock will be
  exchanged for $17.25 in cash.

Options to purchase shares of the Company's common stock granted
pursuant to its 1996 Stock Option Plan will be canceled as of the
effective date of the merger.  In lieu thereof the holders of such
options will be paid $4.9375 for each share of the Company's common
stock the holder of the option formerly had the right to purchase. 
Unvested restricted shares of the Company's common stock granted
pursuant to its 1996 Management Recognition and Development Plan will
be canceled as of the effective date of the merger.  In lieu thereof
the holders of such shares will be paid $17.25 for each share.

Pursuant to the Agreement, the Company has agreed to pay First State a
termination fee of $500,000 in the event the Agreement is terminated
under certain conditions.  Consummation of the merger is subject to
several conditions, including receipt of applicable regulatory
approval, completion of due diligence by First State and approval by
the Company's stockholders.

(3)In February 1997, the FASB issued SFAS No. 128, "Earnings per Share"
  and SFAS No. 129, "Disclosure of Information about Capital Structure." 
  The Statements supersede APB Opinion No. 15, amend certain other
  accounting pronouncements, and modify the presentation of earnings per
  share.  The Statements are effective for financial statements for both
  interim periods and years ending after December 15, 1997.  Following
  is a summary of basic and diluted earnings per common share for the
  three and nine months ended December 31, 1997 and the three and nine
  months ended December 31, 1996, as restated, under SFAS No. 128:

                                  Three Months Ended      Nine Months Ended
                                      December 31,        December 31,  
                                     1997      1996      1997    1996  

Net earnings                         $     60,428    76,469   208,632 126,639

Weighted-average shares - Basic EPS       683,177   712,230   685,912 709,988
Stock options under treasury
  stock method                             14,021     9,178    14,021   9,178
Weighted-average shares - Diluted EPS     697,198   721,408   699,933 719,166

Basic earnings per common share      $        .09       .11       .30     .18

Diluted earnings per common share    $        .09       .11       .30     .18


                  JOACHIM BANCORP, INC. AND SUBSIDIARY
                 Management's Discussion and Analysis of
              Financial Condition and Results of Operations

General

On December 27, 1995, Joachim Federal Savings and Loan Association
(Association) converted from mutual to stock form and became a wholly-
owned subsidiary of a newly formed Missouri holding company, Joachim
Bancorp, Inc. (Company).  The Company has no significant assets other
than common stock of the Association, the loan to the ESOP and net
proceeds retained by the Company following the conversion.  The
Company's principal business is the business of the Association. 
Therefore, the discussion in the Management's Discussion and Analysis
of Financial Condition and Results of Operations relates to the
Association and its operations.

Certain statements in this report which relate to the Company's plans,
objectives or future performance may be deemed to be forward-looking
statements within the meaning of Private Securities Litigation Act of
1995.  Such statements are based on management's current expectations. 
Actual strategies and results in future periods may differ materially
from those currently expected because of various risks and
uncertainties.  Additional discussion of factors affecting the
Company's business and prospects is contained in periodic filings with
the Securities and Exchange Commission.

During the quarter ended September 30, 1997, Mrs. Margaret Smith and
Mr. Andrew England changed from director to director emeritus status. 
Effective October 16, 1997, the bylaws were amended reducing the number
of directors from seven to five.

Asset and Liability Management and Market Risk

The Association's net interest income is dependent primarily upon the
difference or spread between the average yield earned on loans,
securities and MBS and the average rate paid on deposits, as well as
the relative amounts of such assets and liabilities.  The Association,
as other thrift institutions, is subject to interest rate risk to the
degree that its interest-bearing liabilities mature or reprice at
different times, or on a different basis, than its interest-earning
assets.

The Association does not purchase derivative financial instruments or
other financial instruments for trading purposes.  Further, the
Association is not subject to any foreign currency exchange rate risk,
commodity price risk or equity price risk.  The Association is subject
to interest rate risk.  Quantitative and qualitative disclosures about
market risk are discussed in the following paragraphs.

The Association's principal financial objective is to achieve long-term
profitability while reducing its exposure to fluctuating interest
rates.  The Association has an exposure to interest rate risk,
including short-term U.S. prime interest rates.  The Association has
employed various strategies intended to minimize the adverse effect of
interest rate risk on future operations by providing a better match
between the interest rate sensitivity of its assets and liabilities. 
In particular, the Association's strategies are intended to stabilize
net interest income for the long-term by protecting its interest rate
spread against increases in interest rates.  Such strategies include
the origination of adjustable-rate mortgage (ARM) loans for retention
in its portfolio and the purchase of shorter-term securities.  The
Association relies on retail deposits as its primary source of funds. 
Management believes retail deposits, compared to brokered deposits,
reduce the effects of interest rate fluctuations because they generally
represent a more stable source of funds.  As part of its interest rate
risk management strategy, the Association promotes transaction accounts
and one- to three-year certificates of deposit.  Management does not
anticipate that either financial objectives, strategies or instruments
used to reduce its interest rate risk exposure will change
significantly in the near future.



The OTS provides a net market value methodology to measure the interest
rate risk exposure of thrift institutions.  This exposure is a measure
of the potential decline in the net portfolio value (NPV) of the
institution based upon the effect of an assumed 200 basis point
increase or decrease in interest rates.  NPV is the present value of
the expected net cash flows from the institution's financial
instruments (assets, liabilities and off-balance sheet contracts). 
Loans, deposits, and investments are valued taking into consideration
similar maturities, related discount rates and applicable prepayment
assumptions.  Under OTS regulations, an institution's normal level of
interest rate risk in the event of this assumed change in interest
rates is a decrease in the institution's NPV in an amount not exceeding
2% of the present value of its assets.  This procedure for measuring
interest rate risk was developed by the OTS to replace the gap analysis
(the difference between interest-earning assets and interest-bearing
liabilities that mature or reprice within a specific time period).

Year 2000

The Association is reviewing computer applications with its outside
data processing service bureau and other software vendors to ensure
operational and financial systems are not adversely affected by "year
2000" software failures.  All major customer applications are processed
through the outside service bureau.  The service bureau has indicated
that it expects to modify existing programs to make them year 2000
compliant.  Management of the Association is unable to estimate any
additional expense related to this issue.  Any year 2000 compliance
failures could result in additional expense to the Association.

Liquidity and Capital Resources

The Association's principal sources of funds are cash receipts from
deposits, loan repayments by borrowers and net earnings.  The
Association has an agreement with the Federal Home Loan Bank of Des
Moines to provide cash advances.

During November, 1997, the Office of Thrift Supervision (OTS) lowered
the liquidity requirement for savings institutions from 5% to 4% of its
liquidity base.  The Association's liquidity ratio exceeded the
regulatory requirement at December 31, 1997.  

Since the early 1980's, the Association has originated primarily
adjustable-rate mortgage loans in order to reduce interest-rate risk
exposure.

During May, 1997, the Company repurchased an additional 38,022 shares
of treasury stock at a price of $14.3125 per share.  While the purchase
of treasury stock may be beneficial to the Company or shareholders, the
purchase of treasury stock reduces interest-earning assets of the
Company.  Capital of the Association may also be reduced to the extent
treasury stock purchases are funded by dividends from the Association
to the Company.

The Association is required to maintain certain minimum capital
requirements under OTS regulations.  Failure by a savings institution
to meet minimum capital requirements can result in certain mandatory
and possible discretionary actions by regulators which, if undertaken,
could have a direct material effect on the Association's financial
statements.  Under the capital adequacy guidelines and regulatory
framework for prompt corrective action, the Association must meet
specific capital guidelines that involve quantitative measures of the
Association's assets, liabilities, and certain off-balance sheet items
as calculated under regulatory accounting practices.  The capital
amounts and classifications are also subject to quantitative judgments
by the regulators about components, risk-weightings and other factors.

The Association's actual and required capital amounts and ratios at
December 31, 1997 are summarized as follows:


</TABLE>
<TABLE>
<CAPTION>
                                     Minimum Required   Minimum Required  
                                     for Capital to be "Well Capitalized"   
                                         Actual             Adequacy    
                                   
                                     Amount Ratio  Amount Ratio  Amount Ratio   
                                              (Dollars in Thousands)
<S>                                 <C>       <C>   <C>    <C>  <C>     <C> 
Consolidated stockholders' equity   $   9,897
Stockholders' equity of Company     $  (1,995)

Tangible capital                    $   7,902 24.2% $  490 1.5%

General valuation allowance         $      75

Total capital to risk-weighted
  assets                            $   7,977 48.4% $1,320 8.0% $ 1,650 10.0%

Tier 1 capital to risk
 weighted-assets                    $   7,902 47.9% $  660 4.0% $   990  6.0%

Tier 1 capital to total assets      $   7,902 24.2% $  979 3.0% $ 1,632  5.0%

</TABLE>

Commitments to originate adjustable-rate and fixed-rate mortgage loans
at December 31, 1997 were approximately $271,000 and $21,000,
respectively.

Financial Condition
Maturing certificates of deposit and securities and principal
collections on loans were used to fund purchase of treasury shares,
loan originations and deposit account withdrawals.  Premises and
equipment increased due to remodeling costs.  Foreclosed real estate
held for sale was sold during the quarter ended June 30, 1997 at a net
gain of $7,387.  Accrued interest receivable decreased due to a
substantial decrease in certificates of deposit and securities. 
Accrued interest on deposits decreased as a result of timing of
interest paid on transaction accounts.  Advances from borrowers for
taxes and insurance decreased due to seasonal factors.  Real estate
taxes are paid on behalf of borrowers in December of each year.  Other
liabilities decreased due to the timing of payment of certain accrual
items.

Asset Quality
Loans are generally placed on a nonaccrual status when contractually
delinquent more than ninety days.  Nonaccrual loans amounted to
$73,000, or .29% of net loans receivable, at December 31, 1997.

Following is a summary of activity in the allowance for loan losses:

Balance at March 31, 1997       $ 74,285
  Charge-offs                     (5,798)
  Recoveries                          74
  Provision for loan loss          6,641
Balance at December 31, 1997    $ 75,202

                          Results of Operations

Net Earnings
Net earnings decreased from $76,000 for the three months ended December
31, 1996 to $60,000 for the three months ended December 31, 1997.  Net
earnings increased from $127,000 for the nine months ended December 31,
1996 to $209,000 for the nine months ended December 31, 1997.  The
increase in earnings for the nine month period ended December 31, 1997
was due primarily to the $167,000 special one-time SAIF assessment
expensed in the nine months ended December 31, 1996.  In addition to
having no comparable assessment expensed in the nine months ended
December 31, 1997, recurring SAIF deposit insurance premiums were
reduced.  These increases to net earnings for the nine months ended
December 31, 1997 were partially offset by higher income taxes and
lower net interest income and noninterest income.

Net Interest Income
Net interest income decreased for both the three and nine months ended
December 31, 1997 as compared to the 1996 periods as the proportion of
net interest-earning assets over interest-bearing liabilities
decreased.  Interest on loans receivable increased as both the average
balance and yield increased.  The average balance increased from $23.5
million for the nine months ended December 31, 1996 to $24.5 million
for the nine months ended December 31, 1997.  Interest on other
interest-earning assets decreased due primarily to a decline in the
average balance from $5.3 million for 1996 to $3.8 million for 1997. 
Components of interest income change from time to time based on the
availability, quality and interest rates on securities, MBSs and other
interest-earning assets.

Provision for Loan Losses
Provision for loan losses is based upon management's consideration of
economic conditions which may affect the ability of borrowers to repay
the loans.  Management also reviews individual loans for which full
collectibility may not be reasonably assured and considers, among other
matters, the risks inherent in the Association's portfolio and the
estimated fair value of the underlying collateral.  This evaluation is
ongoing and results in variations in the Association's provision for
loan losses.  As a result of this evaluation, the Association's
provision for loan losses amounted to $2,000 and $7,000 for the three
and nine month periods ended December 31, 1997, as compared to $2,000
and $6,000 for the three and nine month periods ended December 31,
1996.

Noninterest Income
Noninterest income decreased from $54,000 for the nine months ended
December 31, 1996 to $32,000 for the nine months ended December 31,
1997.  During the nine months ended December 31, 1996 the Association
recognized income of $13,000 as a result of the sale of assets of the
Association's data processing service bureau.  In addition, the
Association recognized prepayment penalty income of $4,500 on a
participation loan.

Noninterest Expense
Noninterest expense increased from $258,000 for the three months ended
December 31, 1996 to $266,000 for the three months ended December 31,
1997.  Noninterest expense decreased from $958,000 for the nine months
ended December 31, 1996 to $769,000 for the nine months ended December
31, 1997.  Compensation and benefits expense increased for the nine
months ended December 31, 1997 due primarily to higher salary levels
and an increase in the ESOP plan expense, offset by lower retirement
plan expense.  ESOP plan expense was $88,000 for the nine months ended
December 31, 1996 and $99,000 for the 1997 period.  Under generally
accepted accounting principles, expense of the ESOP is affected by
changes in the market price of the Company's stock.  The Association
sold two foreclosed properties held for sale in the nine months ended
December 31, 1997 at a net gain of $7,000.  There were no sales in the
comparable 1996 period.  A special one-time SAIF deposit insurance
assessment of $167,000 was expensed in the nine months ended December
31, 1996, which recapitalized the fund.  Subsequent to the special SAIF
assessment, the Association's recurring SAIF premiums are assessable at
a substantially lower rate.  Professional services for the three and
nine months ended December 31, 1997, increased as a result of
additional costs of reviewing the strategic options of the Company, and
evaluating the proposed merger of the Company.

Income Taxes
Income taxes increased due to the level of earnings before income
taxes.                  JOACHIM BANCORP, INC. AND SUBSIDIARY 

                       PART II - Other Information


Item 1 - Legal Proceeding

   There are no material legal proceedings to which the Company or the
   Association is a party or of which any of their property is subject. 
   From time to time, the Association is a party to various legal
   proceedings incident to its business.

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

   None.

Item 5 - Other Information

   None.

Item 6 - Exhibits and Reports on Form 8-K.

   (a) Exhibits: none

   (b)  Reports on Form 8-K: On December 29, 1997, Form 8-K was filed
         with the Securities and Exchange Commission as a result of the
         Company entering into a definitive merger agreement with First
         State Bancshares, Inc.

                               SIGNATURES

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.


                                JOACHIM BANCORP, INC.
                                     (Registrant)


DATE: February 9, 1998          BY: Bernard R. Westhoff            
                                   Bernard R. Westhoff, President and
                                   Duly Authorized Officer



                              BY: Lee Ellen Hogan                       
  
                                   Lee Ellen Hogan, Treasurer and
                                   Chief Financial Officer