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, 2003

Commission file number    0-23409

                           High Country Bancorp, Inc.
        ------------------------------------------------------------------------
        (Exact Name of Small business Issuer as Specified in Its Charter)

           Colorado                                             84-1438612
-------------------------------                             --------------------
(State of Other Jurisdiction of                              (I.R.S. Employer
Incorporation or Organization)                              Identification No.)

                 7360 West US Highway 50, Salida Colorado 81201
                 ----------------------------------------------
                    (Address of Principal Executive Offices)

                                  719-539-2516
                ------------------------------------------------
                (Issuer's Telephone Number, Including Area Code)

     Check  whether  the issuer:  (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,  $.01 par value  outstanding  as of May 1,  2003:
895,009

<PAGE>
                           HIGH COUNTRY BANCORP, INC.
                                    CONTENTS


PART I - FINANCIAL INFORMATION

   Item 1: Financial Statements

           Consolidated Statements of Condition at June 30, 2002 and
           March 31, 2003                                                 3

           Statements of Consolidated Income for the Three and Nine
           Months Ended March 31, 2003 and 2002                           4

           Statements of Consolidated Cash Flows for the Nine Months
           Ended March 31, 2003 and 2002                                  5

           Notes to Financial Statements                                  6 - 7

   Item 2: Management's Discussion and Analysis or Plan of Operations     8 - 12

   Item 3: Controls and Procedures                                        13

PART II - OTHER INFORMATION

   Item 1: Legal Proceedings                                              14

   Item 2: Changes in Securities and Use of Proceeds                      14

   Item 3: Defaults Upon Senior Securities                                14

   Item 4: Submission of Matters to a Vote of Security Holders            14

   Item 5: Other Information                                              14

   Item 6: Exhibits and Reports on Form 8-K                               14

   Signatures                                                             15

   Certifications

                                       2
<PAGE>
                           HIGH COUNTRY BANCORP, INC.
                 CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION
                                   (UNAUDITED)

<TABLE>
<CAPTION>
                                                                                     March 31,          June 30,
                           ASSETS                                                      2003              2002
                                                                                  -------------------------------
<S>                                                                               <C>               <C>
Cash and amounts due from banks                                                   $   2,962,875     $   2,873,502
Interest- bearing deposits at other institutions                                      6,128,365         8,590,443
Mortgage-backed securities, held to maturity                                         10,982,584        10,306,936
Securities, held to maturity                                                            302,501           303,039
Loans receivable - net                                                              149,671,586       143,195,129
Loans held for sale                                                                   1,933,920           642,000
Federal Home Loan Bank stock, at cost                                                 2,421,600         2,421,600
Accrued interest receivable                                                           1,396,572         1,299,341
Property and equipment, net                                                           6,499,576         6,069,688
Mortgage servicing rights                                                                 1,218             6,788
Prepaid expenses and other assets                                                       569,949           693,583
Deferred income taxes                                                                   262,300           183,100
                                                                                  -------------     -------------
            TOTAL ASSETS                                                          $ 183,133,046     $ 176,585,149
                                                                                  =============     =============
                   LIABILITIES AND EQUITY
LIABILITIES
Deposits                                                                          $ 125,219,322     $ 116,142,046
Advances by borrowers for taxes and insurance                                           102,254                 -
Escrow accounts                                                                          27,826           657,271
Accounts payable and other liabilities                                                1,032,057         1,013,064
Advances from Federal Home Loan Bank                                                 39,350,000        42,641,665
Accrued income taxes payable                                                             48,740                 -
                                                                                  -------------     -------------
            TOTAL LIABILITIES                                                       165,780,199       160,454,046
                                                                                  -------------     -------------
Commitments and contingencies

EQUITY
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 895,009 (March 31, 2003) and
  905,409 shares (June 30, 2002)                                                          8,950             9,054
Paid-in capital                                                                       7,158,560         7,262,469
Retained earnings - substantially restricted                                         10,706,402         9,461,842
Note receivable from ESOP Trust                                                        (521,065)         (521,065)
Deferred MRP stock awards                                                                     -           (81,197)
                                                                                  -------------     -------------
            TOTAL EQUITY                                                             17,352,847        16,131,103
                                                                                  -------------     -------------
            TOTAL LIABILITIES AND EQUITY                                          $ 183,133,046     $ 176,585,149
                                                                                  =============     =============
</TABLE>

                 SEE NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

                                       3
<PAGE>
                                  HIGH COUNTRY BANCORP, INC.
                               CONSOLIDATED STATEMENTS OF INCOME
                                          (UNAUDITED)
<TABLE>
<CAPTION>
                                                           Three Months Ended        Nine Months Ended
                                                                March 31,                March 31,
                                                           2003         2002         2003         2002
                                                        ----------   ----------   ----------   ----------
<S>                                                     <C>          <C>          <C>          <C>
Interest Income
      Interest on loans                                 $2,982,752   $2,918,427   $9,034,333   $9,124,603
      Interest on securities held-to-maturity              105,591      103,177      299,806      202,350
      Interest on other interest- bearing assets            31,295       61,011      135,402      304,203
                                                        ----------   ----------   ----------   ----------
                  Total interest income                  3,119,638    3,082,615    9,469,541    9,631,156
                                                        ----------   ----------   ----------   ----------
Interest Expense
      Deposits                                             679,172      811,514    2,135,104    2,721,993
      Federal Home Loan Bank advances                      559,787      618,916    1,785,366    1,953,663
                                                        ----------   ----------   ----------   ----------
                  Total interest expense                 1,238,959    1,430,430    3,920,470    4,675,656
                                                        ----------   ----------   ----------   ----------
                  Net interest income                    1,880,679    1,652,185    5,549,071    4,955,500

Provision for losses on loans                              117,000       60,000      291,000      175,000
                                                        ----------   ----------   ----------   ----------
                  Net interest income after provision
                        for loan losses                  1,763,679    1,592,185    5,258,071    4,780,500
                                                        ----------   ----------   ----------   ----------
Noninterest Income
      Service charges on deposits                           60,078       64,809      185,350      198,574
      Loans sold                                           268,224      204,903      743,373      684,747
      Title and escrow fees                                 61,607       78,635      169,893      277,348
      Other                                                139,541       97,336      499,256      316,505
                                                        ----------   ----------   ----------   ----------
                  Total noninterest income                 529,450      445,683    1,597,872    1,477,174
                                                        ----------   ----------   ----------   ----------
Noninterest Expense
     Compensation and benefits                             880,428      850,038    2,650,331    2,504,943
     Occupancy and equipment                               336,776      327,638    1,003,782      957,414
     Insurance and professional fees                        65,775       65,246      224,372      212,365
     Other                                                 207,123      188,503      590,470      546,568
                                                        ----------   ----------   ----------   ----------
                  Total noninterest expense              1,490,102    1,431,425    4,468,955    4,221,290
                                                        ----------   ----------   ----------   ----------
                  Income before income taxes               803,027      606,443    2,386,988    2,036,384

                  Income tax expense                       314,500      244,400      929,300      788,900
                                                        ----------   ----------   ----------   ----------
                  Net income                            $  488,527   $  362,043   $1,457,688   $1,247,484
                                                        ==========   ==========   ==========   ==========

Basic Earnings Per Common Share                         $     0.57   $     0.42   $     1.70   $     1.40
                                                        ==========   ==========   ==========   ==========

Diluted Earnings Per Common Share                       $     0.54   $     0.41   $     1.61   $     1.37
                                                        ==========   ==========   ==========   ==========
Weighted Average Common Shares
Outstanding             Basic                              855,522      853,337      857,815      887,981
                        Diluted                            910,231      880,870      904,888      911,497
</TABLE>

                        SEE NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

                                       4
<PAGE>

                           HIGH COUNTRY BANCORP, INC.
                      CONSOLIDATED STATEMENTS OF CASH FLOWS
                                   (UNAUDITED)
<TABLE>
<CAPTION>
                                                                                  Nine Months Ended
                                                                                       March 31,
                                                                                  2003           2002
                                                                             ------------    ------------
<S>                                                                          <C>             <C>
Operating Activities
      Net income                                                             $  1,457,688    $  1,247,484
      Adjustments to reconcile net income to net cash provided
            by operating activities:
      Amortization of:
            Deferred loan origination fees                                       (158,997)       (207,589)
            Premiums on investments                                                27,451          34,204
      Loss on disposition of equipment                                              1,839
      Compensation expense on Management Recognition Plan                         125,233         128,830
      ESOP market value expense                                                    99,231          53,365
      Provision for losses on loans                                               291,000         175,000
      Deferred income taxes                                                       (79,200)        (33,200)
      Depreciation                                                                363,278         352,526
      Income taxes                                                                 48,740          (5,486)
      Net change in miscellaneous assets                                           31,973        (115,498)
      Net change in miscellaneous liabilities                                     121,247         (24,080)
                                                                             ------------    ------------

            Net cash provided by operating activities                           2,329,483       1,605,556
                                                                             ------------    ------------
Investing Activities
       Net change in interest bearing deposits                                  2,462,078       1,996,167
       Net change in loans receivable                                          (7,900,380)     (1,071,923)
       Purchases of mortgage-backed securities                                 (2,528,391)    (10,924,006)
       Purchases of securities held to maturity                                      --          (303,218)
       Principal repayments of mortgage-backed securities-held-to-maturity      1,825,830       1,450,561
       Purchases of property and equipment                                       (795,005)       (358,394)
                                                                             ------------    ------------
            Net cash used by investing activities                              (6,935,868)     (9,210,813)
                                                                             ------------    ------------
Financing Activities
      Net change in deposits                                                    9,077,276      12,684,593
      Net change in escrow funds                                                 (629,445)       (133,880)
      Purchase of common stock                                                   (247,281)     (1,986,832)
      Cash dividends paid                                                        (213,127)       (214,682)
      Proceeds (payment) on FHLB advances                                      (3,291,665)     (2,791,667)
                                                                             ------------    ------------
              Net cash provided by financing activities                         4,695,758       7,557,532
                                                                             ------------    ------------
             Net change in cash and cash equivalents                               89,373         (47,725)

Cash and cash equivalents, beginning                                            2,873,502       2,759,671
                                                                             ------------    ------------
Cash and cash equivalents, ending                                            $  2,962,875    $  2,711,946
                                                                             ============    ============
Supplemental disclosure of cash flow information
Cash paid for:
     Taxes                                                                   $    874,323    $    823,228
     Interest                                                                   3,925,855       4,695,856
</TABLE>
                        SEE NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

                                       5
<PAGE>

                           HIGH COUNTRY BANCORP, INC.
                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
                                   (UNAUDITED)
                                 MARCH 31, 2003
Note 1.  Nature of Business
High Country Bancorp,  Inc. (the "Company") was  incorporated  under the laws of
the State of Colorado for the purpose of becoming the holding  company of Salida
Building  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 August 1997 to
acquire all of the common stock of Salida Building and Loan Association upon its
conversion  to stock form,  which was completed on December 9, 1997. In November
1999,  the  Association  incorporated a new  subsidiary,  High Country Title and
Escrow  Company.  This company is offering  title  insurance and escrow  closing
services  with the  Association's  market area.  In February  2000,  the name of
Salida  Building  and Loan  Association  was changed to High  Country  Bank (the
"Bank").

Note 2.  Basis of Presentation
The accompanying unaudited  consolidated  financial statements,  (except for the
statement of financial  condition at June 30, 2002,  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 High  Country  Bank and it's
subsidiary High Country Title and Escrow Company.  The results of operations for
the nine  months  ended  March 31, 2003 are not  necessarily  indicative  of the
results of operations that may be expected for the year ended June 30, 2003. 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 as 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  2002  High  Country  Bancorp,   Inc.  financial
statements.

Note 3.  Regulatory Capital Requirements
At March 31, 2003,  the Bank met each of the three  current  minimum  regulatory
capital  requirements.  The following  table  summarizes  the Bank's  regulatory
capital position at March 31, 2003:
<TABLE>
<CAPTION>
Tangible Capital:
<S>                                                 <C>                       <C>
         Actual                                     $17,294,000               9.44%
         Required                                     2,748,000               1.50
         Excess                                     $14,546,000               7.94%

Core Capital:
         Actual                                     $17,294,000               9.44%
         Required                                     5,496,000               3.00
         Excess                                     $11,798,000               6.44%

Risk-Based Capital:
         Actual                                     $17,869,000              13.46%
         Required                                    10,618,000               8.00
         Excess                                     $ 7,251,000               5.46%
</TABLE>
                                       6
<PAGE>

                           HIGH COUNTRY BANCORP, INC.
                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
                                   (UNAUDITED)
                                 March 31, 2003

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. Earnings Per Share

The Company  adopted  Financial  Accounting  Standards  Board  Statement No. 128
relating to earnings per share.  The statement  requires dual  presentations  of
basic and diluted  earnings  per share on the face of the income  statement  and
requires a  reconciliation  of the  numerator and  denominator  of the basic EPS
computation  to the numerator and  denominator  of the diluted EPS  computation.
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.

                                       7
<PAGE>

                           HIGH COUNTRY BANCORP, INC.
                      MANAGEMENT'S DISCUSSION AND ANALYSIS

COMPARISON OF FINANCIAL CONDITION AT JUNE 30, 2002 AND MARCH 31, 2003

The Company's total assets increased by $6.5 million or 3.7% from $176.6 million
at June 30, 2002 to $183.1 million at March 31, 2003. The increase in assets was
due to growth in loans, mortgage-backed securities and fixed assets.

Interest-bearing  deposits  decreased $2.5 million from $8.6 million at June 30,
2002 to $6.1 million at March 31, 2003. The deposits were used to fund loans and
purchase mortgage-backed securities.

Mortgage-backed securities classified as "held to maturity" increased from $10.3
million at June 30, 2002 to $11.0  million at March 31,  2003.  The increase was
due to the purchase of adjustable-rate and short term mortgage backed securities
in order to improve investment yields as compared to  interest-bearing  deposits
and lower interest rate risk. At March 31, 2003, the securities had an estimated
fair value of $11.1 million.

Net loans  increased $7.8 million from $143.8 million at June 30, 2002 to $151.6
million at March 31, 2003.  During the nine months ended March 31, 2003,  single
family mortgage loans increased $4.3 million, commercial non-mortgage loans $2.7
million,  single family  construction  loans $2.5 million,  and commercial  real
estate loans $1.4 million. Auto loans decreased $1.8 million and land loans $1.1
million during the same period.  Refinancing activity due to low interest rates,
local construction  activity and seasonal commercial loan demand has helped loan
originations.  Auto loans  decreased  due to  increased  competition  from local
dealerships and land loans decreased due to pay-downs of development loans.

During the nine months  ended  March 31,  2003,  the Bank sold $45.7  million of
fixed-rate  loans to the Federal Home Loan  Mortgage  Corporation.  At March 31,
2003,  loans held for sale were $1.9 million.  The loans are valued at the lower
of cost or market.

The  following  table  sets  forth   information  with  respect  to  the  Bank's
nonperforming assets at the dates indicated.
<TABLE>
<CAPTION>
                                                               March 31,        June 30,
                                                                  2003            2002
                                                               -------------------------
                                                                    (In thousands)
<S>                                                           <C>               <C>
Loans accounted for on a nonaccrual basis:
 Real estate:
    One- to four-family.....................................  $      --         $     --
    Commercial..............................................      1,396               --
    Land development........................................         --               --
 Consumer...................................................         --               63
 Commercial.................................................        291              257
 Other......................................................         --               --
                                                              ---------         --------
        Total...............................................      1,687              320
                                                              ---------         --------
Accruing loans delinquent 90 days or more:
 Real estate:
    One- to four-family.....................................  $   1,019         $    360
    Commercial..............................................      1,009              729
    Land development........................................         --              218
 Consumer...................................................         98               --
 Commercial.................................................        442               --
 Other......................................................         --               --
                                                              ---------         --------
        Total...............................................      2,568            1,307
                                                              ---------         --------
                                       8
<PAGE>
                           HIGH COUNTRY BANCORP, INC.
                      MANAGEMENT'S DISCUSSION AND ANALYSIS

            Total nonperforming loans.......................      4,255            1,627
                                                              ---------         --------
Repossessed assets..........................................         80               69
                                                              ---------         --------
Total nonperforming assets..................................  $   4,335         $  1,696
                                                              =========         ========
Total nonperforming loans as a
  percentage of total net loans.............................      2.84%             1.14%
                                                              =========         ========
Total nonperforming assets as a
  percentage of total assets................................      2.37%             0.96%
                                                              =========         ========
</TABLE>
As of March 31, 2003 and June 30, 2002, the  non-performing  loans in the Bank's
portfolio were $4.3 and $1.6 million,  respectively.  The increase was primarily
due to the addition of five loans  secured by  commercial  real estate  totaling
$1.4 million,  six loans secured by single family  residences  totaling $763,000
and six loans to one tourism related company  totaling  $638,000.  Many of these
borrowers were  adversely  impacted in the summer of 2002 by a major drought and
nearby forest fires which had a negative  effect on the local  tourism  economy.
The tourism  related  company  with loans  totaling  $638,000  has  received SBA
disaster  assistance  funding which will bring these loans current.  The largest
non-performing  loan totals  $729,000 and is a business  purpose loan secured by
two single family  residences and vacant land. No loss is expected on this loan.
The total  non-performing  loans at March 31, 2003  included 38 loans secured by
commercial  real  estate,  single  family  residences,   vacant  land,  business
equipment and autos.  Seven of the  non-performing  loans totaling $2.1 million,
are involved with bankruptcy proceedings or in foreclosure.

Except  as  discussed   below,   the  Bank  had  no  loans  not   classified  as
non-performing  or restructured  where known  information  about possible credit
problems of  borrowers  caused  management  to have  serious  concerns as to the
ability of the  borrowers to comply with present  loan  repayment  terms and may
result in disclosure as  non-performing  or restructured.  The Bank maintains an
internal  watch list which  includes  these  loans.  As of March 31,  2003,  the
majority of the watch list was seven loans  totaling $2.8 million to two tourism
related  businesses.  The Bank  restructured one borrower's three loans totaling
$2.1  million to below  market  interest  rates as a result of an SBA loan.  The
$629,000 SBA loan  allowed the Bank's  loans to be brought  current and repaid a
portion of the loans.  Each of this  borrower's  loans is also  classified  as a
troubled debt  restructure.  A second borrower has four loans totaling  $659,000
which were added to the internal watch list due to cash flow problems associated
with a slow tourism  season.  Repayment to avoid  nonperformance  is expected to
occur through retail sales in the upcoming  summer tourism  season.  These loans
are secured by  equipment,  inventory  and  commercial  real estate.  Although a
specific allowance for loss has not been established on these loans,  management
considered  the  potential  risk of loss on  these  loans  in  establishing  the
provision for loan losses for the nine months ended March 31, 2003.

The  allowance  for loan losses  totaled $1.7 million at March 31, 2003 and $1.5
million at June 30, 2002. At March 31, 2003 and June 30, 2002,  the ratio of the
allowance for loan losses to net loans was 1.10% and 1.03%, respectively. During
the nine months  ended March 31, 2003,  there was $121,000 of loans  charged off
and $5,000 in  recoveries  of previous  loan losses.  The  determination  of the
allowance for loan losses is based on a review and  classification of the Bank's
portfolio  and other  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.  Particular attention was
focused on the Bank's commercial loan portfolio and any impaired loans. The Bank
believes the current  level of allowance  for loan losses is adequate to provide
for probable  future  losses,  although  there are no  assurances  that probable
future losses, if any, will not exceed estimated amounts.

Property and  equipment  increased a net $430,000  from $6.1 million at June 30,
2002 to $6.5 million at
                                       9
<PAGE>
                           HIGH COUNTRY BANCORP, INC.
                      MANAGEMENT'S DISCUSSION AND ANALYSIS

March 31, 2003.  The majority of the increase was for the purchase of land for a
new branch  site in Buena  Vista,  Colorado.  The new branch is  expected  to be
completed in 2004 and will replace the current Buena Vista branch office.

Escrow accounts decreased from $657,000 at June 30, 2002 to $28,000 at March 31,
2003.  The decrease was due to a change at High Country Title and Escrow Company
which limited escrow closing services and the associated accounts.

Advances from the Federal Home Loan Bank decreased to $39.4 million at March 31,
2003 from $42.6  million at June 30,  2002.  Funds  from  deposits  were used to
pay-off maturing advances.

On November 19, 2002,  the Company paid  dividends of $0.25 per share.  In March
2003, the Company  repurchased  3,400 shares at a cost of $84,000.  For the nine
months  ending March 31, 2003,  the Company has  repurchased  10,400 shares at a
cost  of  $247,000.  On  November  3,  2001,  the  Company  announced  a plan to
repurchase up to 10% or 92,221 shares of the outstanding stock. Since that date,
the Company has repurchased 27,200 shares at a cost of $529,000.

COMPARISON  OF  OPERATING  RESULTS FOR THE THREE MONTHS ENDED MARCH 31, 2003 AND
2002

Net Income.  The  Company's net income for the three months ended March 31, 2003
was $489,000 compared to $362,000 for the three months ended March 31, 2002. The
increase in net income  resulted  primarily  from  increased  net  interest  and
non-interest  income  which  offset  increased  provision  for  losses on loans,
non-interest expense and income tax expense.

Net Interest  Income.  Net interest  income for the three months ended March 31,
2003 was $1.9 million  compared to $1.7 million for the three months ended March
31, 2002. Although both interest earning assets and interest bearing liabilities
increased,  the cost of interest bearing liabilities decreased at a greater rate
than the yield on interest earning assets. The average yield on interest earning
assets  decreased  from 7.71% for the three months ended March 31, 2002 to 7.29%
for the three months ended March 31, 2003. The decrease due to loans refinancing
at lower  rates was  partially  offset by  reinvestment  since March 2002 of low
yielding Federal Home Loan Bank Overnight  Deposits into slightly higher earning
mortgage backed  securities.  The average cost of interest  bearing  liabilities
also decreased from 3.94% for the three months ended March 31, 2002 to 3.24% for
the three months  ended March 31,  2003.  The decrease in costs was due to lower
deposit rates and less reliance on higher  costing  Federal Home Loan  Advances.
The interest rate spread  increased  from 3.77% for the three months ended March
31, 2002 to 4.05% for the three months ended March 31, 2003.

Provision for Losses on Loans.  The provision for loan loss was $117,000 for the
three  months  ended March 31, 2003 as compared to $60,000 for the three  months
ended  March 31,  2002.  The  increase  was the result of  provisions  for loans
impacted by the drought and loan charge offs.

Non-interest Income. Non-interest income was $529,000 for the three months ended
March 31,  2003 as compared to  $446,000  for the three  months  ended March 31,
2002.  The  majority  of the  increase  is tied to  increased  loans sold and an
increase in other  income due to higher loan  origination  fees.  Continued  low
mortgage loan interest  rates have aided single family  mortgage loan  activity.
However,  gains on loans  sold may be reduced  in the  future if  interest  rate
increases cause a reduction in loan originations.

Non-interest  Expenses.  Non-interest expenses increased $59,000 to $1.5 million
for the three  months ended March 31, 2003 as compared to the three months ended
March 31, 2002.  The majority of the  increase was in  compensation  and benefit
expense. The increase is tied to additional employees and higher benefit fees as
compared to the previous  year.  Occupancy and other  expenses  increased due to
growth.
                                       10
<PAGE>
                           HIGH COUNTRY BANCORP, INC.
                      MANAGEMENT'S DISCUSSION AND ANALYSIS

COMPARISON  OF  OPERATING  RESULTS FOR THE NINE MONTHS  ENDED MARCH 31, 2003 AND
2002

Net Income.  The  Company's  net income for the nine months ended March 31, 2003
was $1.5  million  compared to $1.2  million for the nine months ended March 31,
2002. The increase in net income resulted  primarily from increased net interest
and non-interest income which offset increased compensation, occupancy and other
operating expenses.

Net Interest  Income.  Net  interest  income for the nine months ended March 31,
2003 was $5.5  million  compared to $5.0 million for the nine months ended March
31, 2002. Although both interest earning assets and interest bearing liabilities
increased,  the cost of interest bearing liabilities decreased at a greater rate
than the yield on interest earning assets. The average yield on interest earning
assets  decreased  from 8.13% for the nine months  ended March 31, 2002 to 7.46%
for the nine months ended March 31, 2003. The decrease due to loans  refinancing
at lower  rates was  partially  offset by  reinvestment  since March 2002 of low
yielding Federal Home Loan Bank Overnight  Deposits into slightly higher earning
mortgage backed  securities.  The average cost of interest  bearing  liabilities
also  decreased from 4.36% for the nine months ended March 31, 2002 to 3.45% for
the nine months  ended March 31,  2003.  The  decrease in average cost is due to
less  reliance on higher  costing FHLB  advances and lower  deposit  rates.  The
interest  rate spread  increased  from 3.77% for the nine months ended March 31,
2002 to 4.01% for the nine months ended March 31, 2003.

Non-interest  Income.  Non-interest  income  increased from $1.5 million for the
nine months ended March 31, 2002 to $1.6 million for the nine months ended March
31, 2003.  The increase is primarily due to higher other income which  primarily
consists of loan origination fees and higher income from loan sales.

Since March 2002, the Bank increased loan  origination fees and started charging
fees for all loans. The increase was offset by lower title and escrow fees which
decreased  due to a  reduction  in closing  services at High  Country  Title and
Escrow Company.

Non-interest  Expense.  Non-interest expense increased from $4.2 million for the
nine months ended March 31, 2002 to $4.5 million for the nine months ended March
31, 2003. The majority of the increase was in compensation  and benefit expense.
The increase is tied to additional employees and higher benefit fees as compared
to the previous year. Occupancy and other expenses increased due to growth.

LIQUIDITY AND CAPITAL RESOURCES
The  Company's  primary  sources of funds  consist of deposits,  FHLB  advances,
repayment of loans and mortgage-backed securities, maturities of investments and
interest-bearing  deposits, and funds provided from 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 fund  maturing FHLB  advances,  to
invest in other  interest-earning  assets,  to maintain  liquidity,  and to meet
operating  expenses.  Management believes that proceeds from loan repayments and
other  sources of funds will be adequate to meet the Company's  liquidity  needs
for the immediate future.

The Bank is required to maintain sufficient liquidity to ensure a safe and sound
operation.  Management  believes  that  the  Bank's  sources  of  liquidity  for
potential uses are adequate under the current regulations.

IMPACT OF INFLATION AND CHANGING PRICES

The financial statements and related data presented herein have been prepared in
accordance with
                                       11
<PAGE>
                           HIGH COUNTRY BANCORP, INC.
                      MANAGEMENT'S DISCUSSION AND ANALYSIS

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.

FORWARD LOOKING STATEMENTS

This report  contains  certain  forward-looking  statements made pursuant to the
safe harbor provisions of the Private Securities  Litigation Reform Act of 1995.
Such statements are subject to certain risks and uncertainties including changes
in economic  conditions  in the  Company's  market area,  changes in policies by
regulatory  agencies,  fluctuations  in  interest  rates,  loan  demand  in  the
Company's market area, and competition that could cause actual results to differ
materially  from  historical   earnings  and  those  presently   anticipated  or
projected.  The Company wishes to caution readers not to place undue reliance on
any such forward-looking statements, which reflect management's analysis only as
the date made. The Company does not undertake any obligation to publicly  revise
these  forward-looking  statements to reflect events or circumstances that arise
after the date of such statements.

                                       12
<PAGE>
                           HIGH COUNTRY BANCORP, INC.
                             CONTROLS AND PROCEDURES

Item 3.   Controls and Procedures

Within 90 days prior to the date of this  report,  the  Company  carried  out an
evaluation,  under the supervision and with the  participation  of the principal
executive officer and principal  financial officer,  of the effectiveness of the
design and operation of our disclosure  controls and  procedures.  Based on this
evaluation,  the principal  executive  officer and principal  financial  officer
concluded that the Company's disclosure controls and procedures are effective in
timely  alerting  them to  material  information  required to be included in the
Company's periodic SEC reports.

In addition,  there have been no significant  changes in the Company's  internal
controls or in other  factors that could  significantly  affect  those  controls
subsequent to the date of their last evaluation.


                                       13
<PAGE>
                           HIGH COUNTRY BANCORP, INC.

                           PART II - OTHER INFORMATION



     ITEM 1:      Legal Proceedings

                  None

     ITEM 2:      Changes in Securities and Use of Proceeds

                  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

                  The following exhibit is filed herewith:

                  Exhibit
                  Number            Title
                  -------           -----

                    99              Certification Pursuant to 18 U.S.C. Section
                                    1350, as Adopted Pursuant to Section 906 of
                                    the Sarbanes-Oxley Act of 2002

                 (b)      Reports on Form 8-K

                  None


                                       14
<PAGE>
SIGNATURES

Pursuant to the  requirements  of the Exchange Act, the  registrant  caused this
report to be signed on its behalf by the undersigned, thereunto duly authorized.

                                           High Country Bancorp, Inc.
                                           Registrant

     Date     May 5, 2003                  /s/  Larry D. Smith
              -----------                  -------------------------------------
                                           Larry D. Smith
                                           President and Chief Executive Officer
                                           (Duly Authorized Officer)



      Date     May 5 2003                  /s/  Frank L. DeLay
              -----------                  -------------------------------------
                                           Frank L. DeLay
                                           Chief Financial Officer
                                           (Principal Financial Officer)

                                       15
<PAGE>
                                  CERTIFICATION

I,  Larry D.  Smith,  President  and Chief  Executive  Officer  of High  Country
Bancorp, Inc., certify that:

1. I have reviewed this quarterly report on Form 10-QSB of High Country Bancorp,
Inc.;

2. Based on my  knowledge,  this  quarterly  report  does not contain any untrue
statement of a material fact or omit to state a material fact  necessary to make
the statements made, in light of the  circumstances  under which such statements
were made, not  misleading  with respect to the period covered by this quarterly
report;

3.  Based  on my  knowledge,  the  financial  statements,  and  other  financial
information  included in this quarterly  report,  fairly present in all material
respects the financial  condition,  results of operations  and cash flows of the
registrant as of, and for, the periods presented in this quarterly report;

4.  The  registrant's  other  certifying  officers  and  I are  responsible  for
establishing and maintaining  disclosure  controls and procedures (as defined in
Exchange Act Rules 13a-14 and 15d-14) for the registrant and have:

a) Designed  such  disclosure  controls and  procedures  to ensure that material
information relating to the registrant, including its consolidated subsidiaries,
is made known to us by others  within those  entities,  particularly  during the
period in which this quarterly report is being prepared;

b) Evaluated  the  effectiveness  of the  registrant's  disclosure  controls and
procedures  as of a date  within  90  days  prior  to the  filing  date  of this
quarterly report (the "Evaluation Date"); and

c) Presented in this quarterly report our conclusions about the effectiveness of
the  disclosure  controls  and  procedures  based  on our  evaluation  as of the
Evaluation Date;

5. The registrant's other certifying officers and I have disclosed, based on our
most recent evaluation,  to the registrant's auditors and the audit committee of
the  registrant's  board of  directors  (or persons  performing  the  equivalent
functions):

a) All significant  deficiencies in the design or operation of internal controls
which  could  adversely  affect the  registrant's  ability  to record,  process,
summarize and report  financial data and have  identified  for the  registrant's
auditors any material weaknesses in internal controls; and

b) Any  fraud,  whether  or not  material,  that  involves  management  or other
employees who have a significant role in the registrant's internal controls; and

6. The  registrant's  other  certifying  officers  and I have  indicated in this
quarterly  report  whether or not there  were  significant  changes in  internal
controls or in other factors that could  significantly  affect internal controls
subsequent to the date of our most recent  evaluation,  including any corrective
actions with regard to significant deficiencies and material weaknesses.

Date: May 5, 2003
                                         /s/ Larry D. Smith
                                         -------------------------------------
                                         Larry D. Smith
                                         President and Chief Executive Officer

<PAGE>
                                  CERTIFICATION

I, Frank L.  DeLay,  Chief  Financial  Officer of High  Country  Bancorp,  Inc.,
certify that:

1. I have reviewed this quarterly report on Form 10-QSB of High Country Bancorp,
Inc.;

2. Based on my  knowledge,  this  quarterly  report  does not contain any untrue
statement of a material fact or omit to state a material fact  necessary to make
the statements made, in light of the  circumstances  under which such statements
were made, not  misleading  with respect to the period covered by this quarterly
report;

3.  Based  on my  knowledge,  the  financial  statements,  and  other  financial
information  included in this quarterly  report,  fairly present in all material
respects the financial  condition,  results of operations  and cash flows of the
registrant as of, and for, the periods presented in this quarterly report;

4.  The  registrant's  other  certifying  officers  and  I are  responsible  for
establishing and maintaining  disclosure  controls and procedures (as defined in
Exchange Act Rules 13a-14 and 15d-14) for the registrant and have:

a) Designed  such  disclosure  controls and  procedures  to ensure that material
information relating to the registrant, including its consolidated subsidiaries,
is made known to us by others  within those  entities,  particularly  during the
period in which this quarterly report is being prepared;

b) Evaluated  the  effectiveness  of the  registrant's  disclosure  controls and
procedures  as of a date  within  90  days  prior  to the  filing  date  of this
quarterly report (the "Evaluation Date"); and

c) Presented in this quarterly report our conclusions about the effectiveness of
the  disclosure  controls  and  procedures  based  on our  evaluation  as of the
Evaluation Date;

5. The registrant's other certifying officers and I have disclosed, based on our
most recent evaluation,  to the registrant's auditors and the audit committee of
the  registrant's  board of  directors  (or persons  performing  the  equivalent
functions):

a) All significant  deficiencies in the design or operation of internal controls
which  could  adversely  affect the  registrant's  ability  to record,  process,
summarize and report  financial data and have  identified  for the  registrant's
auditors any material weaknesses in internal controls; and

b) Any  fraud,  whether  or not  material,  that  involves  management  or other
employees who have a significant role in the registrant's internal controls; and

6. The  registrant's  other  certifying  officers  and I have  indicated in this
quarterly  report  whether or not there  were  significant  changes in  internal
controls or in other factors that could  significantly  affect internal controls
subsequent to the date of our most recent  evaluation,  including any corrective
actions with regard to significant deficiencies and material weaknesses.

Date:  May 5, 2003

                                        /s/ Frank L. DeLay
                                        -------------------------------
                                        Frank L. DeLay
                                        Chief Financial Officer