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 December 31, 2002

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 February 3, 2002
898,409

<PAGE>
                           HIGH COUNTRY BANCORP, INC.
                                    CONTENTS


PART I - FINANCIAL INFORMATION

   Item 1:   Financial Statements

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

             Statements of Consolidated Income for the Three and
             Six Months Ended December 31, 2002 and 2001                    4

             Statements of Consolidated Cash Flows for the Six Months
             Ended December 31, 2002 and 2001                               5

             Notes to Financial Statements                                  6-7

   Item 2:   Management's Discussion and Analysis or Plan of Operations     8-11

   Item 3:   Controls and Procedures                                        12

PART II - OTHER INFORMATION

   Item 1:   Legal Proceedings                                              13

   Item 2:   Changes in Securities and Use of Proceeds                      13

   Item 3:   Defaults Upon Senior Securities                                13

   Item 4:   Submission of Matters to a Vote of Security Holders            13

   Item 5:   Other Information                                              13

   Item 6:   Exhibits and Reports on Form 8-K                               13

   Signatures                                                               14

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

                                                                                       December 31,       June 30,
                           ASSETS                                                         2002              2002
                                                                                      -----------------------------
<S>                                                                                   <C>               <C>
Cash and amounts due from banks                                                       $ 3,344,700       $ 2,873,502
Interest- bearing deposits at other institutions                                        3,806,453         8,590,443
Mortgage-backed securities, held to maturity                                           11,604,212        10,306,936
Securities, held to maturity                                                              302,681           303,039
Loans receivable - net                                                                146,743,585       143,195,129
Loans held for sale                                                                     2,086,450           642,000
Federal Home Loan Bank stock, at cost                                                   2,421,600         2,421,600
Accrued interest receivable                                                             1,399,212         1,299,341
Property and equipment, net                                                             6,553,862         6,069,688
Mortgage servicing rights                                                                   2,380             6,788
Prepaid expenses and other assets                                                         560,684           693,583
Deferred income taxes                                                                     235,300           183,100
                                                                                    -------------     -------------
            TOTAL ASSETS                                                            $ 179,061,119     $ 176,585,149
                                                                                    =============     =============

                   LIABILITIES AND EQUITY
LIABILITIES
Deposits                                                                              122,520,113     $ 116,142,046
Advances by borrowers for taxes and insurance                                             201,474                --
Escrow accounts                                                                            28,825           657,271
Accounts payable and other liabilities                                                  1,035,565         1,013,064
Advances from Federal Home Loan Bank                                                   38,400,000        42,641,665
Accrued income taxes payable                                                               26,817                --
                                                                                    -------------     -------------
            TOTAL LIABILITIES                                                         162,212,794       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 898,409 (December 31, 2002) and
  905,409 (June 30, 2002)                                                                   8,984             9,054
Paid-in capital                                                                         7,177,295         7,262,469
Retained earnings - substantially restricted                                           10,217,876         9,461,842
Note receivable from ESOP Trust                                                          (521,065)         (521,065)
Deferred MRP stock awards                                                                 (34,765)          (81,197)
                                                                                    -------------     -------------
            TOTAL EQUITY                                                               16,848,325        16,131,103
                                                                                    -------------     -------------

            TOTAL LIABILITIES AND EQUITY                                            $ 179,061,119     $ 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                 Six Months Ended
                                                                         December 31,                      December 31,
                                                                   2002              2001              2002             2001
                                                               -----------        -----------      -----------     -----------
<S>                                                            <C>                <C>              <C>             <C>
Interest Income
      Interest on loans                                        $ 3,019,604        $ 3,100,828      $ 6,051,581     $ 6,206,175
      Interest on securities held-to-maturity                       93,819             63,563          194,215          99,173
      Interest on other interest- bearing assets                    47,014            104,781          104,107         243,192
                                                               -----------        -----------      -----------     -----------
                  Total interest income                          3,160,437          3,269,172        6,349,903       6,548,540
                                                               -----------        -----------      -----------     -----------
Interest Expense
      Deposits                                                     715,246            924,925        1,455,932       1,910,480
      Federal Home Loan Bank advances                              590,554            662,102        1,225,579       1,334,747
                                                               -----------        -----------      -----------     -----------
                  Total interest expense                         1,305,800          1,587,027        2,681,511       3,245,227
                                                               -----------        -----------      -----------     -----------
                  Net interest income                            1,854,637          1,682,145        3,668,392       3,303,313

Provision for losses on loans                                       77,000             55,000          174,000         115,000
                                                               -----------        -----------      -----------     -----------
                  Net interest income after provision
                        for loan losses                          1,777,637          1,627,145        3,494,392       3,188,313
                                                               -----------        -----------      -----------     -----------
Noninterest Income
      Service charges on deposits                                   64,308             71,478          125,272         133,765
      Loans sold                                                   294,443            292,015          475,149         479,844
      Title and escrow fees                                         58,676            105,098          108,286         198,714
      Other                                                        198,274            127,041          359,715         219,169
                                                               -----------        -----------      -----------     -----------
                  Total noninterest income                         615,701            595,632        1,068,422       1,031,492
                                                               -----------        -----------      -----------     -----------
Noninterest Expense
     Compensation and benefits                                     899,398            858,980        1,769,903       1,654,904
     Occupancy and equipment                                       339,194            325,253          667,006         629,776
     Insurance and professional fees                                64,179             60,671          158,597         147,119
     Other                                                         219,733            210,514          383,347         358,065
                                                               -----------        -----------      -----------     -----------
                  Total noninterest expense                      1,522,504          1,455,418        2,978,853       2,789,864
                                                               -----------        -----------      -----------     -----------
                  Income before income taxes                       870,834            767,359        1,583,961       1,429,941

                  Income tax expense                               340,000            293,000          614,800         544,500
                                                               -----------        -----------      -----------     -----------
                  Net income                                   $   530,834        $   474,359      $   969,161     $   885,441
                                                               ===========        ===========      ===========     ===========
Basic Earnings Per Common Share                                $      0.62        $      0.56      $      1.13     $      0.98
                                                               ===========        ===========      ===========     ===========
Diluted Earnings Per Common Share                              $      0.59        $      0.54      $      1.07     $      0.96
                                                               ===========        ===========      ===========     ===========
Weighted Average Common Shares
Outstanding             Basic                                      858,723            852,463          858,961         905,303
                        Diluted                                    905,931            877,758          901,652         926,984

</TABLE>

                 SEE NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
                                        4
<PAGE>

                           HIGH COUNTRY BANCORP, INC.
                      CONSOLIDATED STATEMENTS OF CASH FLOWS
                                   (UNAUDITED)
<TABLE>
<CAPTION>
                                                                                    Six Months Ended
                                                                                      December 31,
                                                                                  2002             2001
                                                                             ------------    ------------
<S>                                                                          <C>             <C>
Operating Activities
      Net income                                                             $    969,161    $    885,441

      Adjustments to reconcile net income to net cash provided
            by operating activities:
      Amortization of:
            Deferred loan origination fees                                        (96,746)       (145,194)
            Premiums on investments                                                16,302           6,166
      Loss on disposition of equipment                                              1,839              --
      Compensation expense on Management Recognition Plan                          64,961         128,830
      ESOP market value expense                                                    59,354          34,429
      Provision for losses on loans                                               174,000         115,000
      Deferred income taxes                                                       (52,200)        (30,000)
      Depreciation                                                                235,838         230,667
      Income taxes                                                                 26,817         (29,071)
      Net change in miscellaneous assets                                           37,436        (342,425)
      Net change in miscellaneous liabilities                                     223,975         153,873
                                                                             ------------    ------------

            Net cash provided by operating activities                           1,660,737       1,007,716
                                                                             ------------    ------------
Investing Activities
       Net change in interest bearing deposits                                  4,783,990      (2,474,971)
       Net change in loans receivable                                          (5,070,160)      1,309,977
       Purchases of mortgage-backed securities                                 (2,528,391)     (7,869,845)
       Principal repayments of mortgage-backed securities-held-to-maturity      1,215,171         586,837
       Purchases of property and equipment                                       (721,851)       (293,463)
                                                                             ------------    ------------

            Net cash used by investing activities                              (2,321,241)     (8,741,465)
                                                                             ------------    ------------
Financing Activities
      Net change in deposits                                                    6,378,067      11,485,873
      Net change in escrow funds                                                 (628,446)        621,751
      Purchase of common stock                                                   (163,127)     (1,850,832)
      Cash dividends paid                                                        (213,127)       (214,682)
      Proceeds (payment) on FHLB advances                                      (4,241,665)     (1,741,667)
                                                                             ------------    ------------
            Net cash provided by financing activities                           1,131,702       8,300,443

            Net increase (decrease) in cash and cash equivalents                  471,198         566,694

Cash and cash equivalents, beginning                                            2,873,502       2,759,671
                                                                             ------------    ------------
Cash and cash equivalents, ending                                            $  3,344,700    $  3,326,365
                                                                             ============    ============

Supplemental disclosure of cash flow information
Cash paid for:
     Taxes                                                                   $    557,265    $    593,031
     Interest                                                                   2,695,404       3,269,296
</TABLE>

                 SEE NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
                                        5
<PAGE>
                           HIGH COUNTRY BANCORP, INC.
                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
                                   (UNAUDITED)
                                DECEMBER 31, 2002

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 six months ended  December 31, 2002 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 December 31, 2002, the Bank met each of the three current minimum  regulatory
capital  requirements.  The following  table  summarizes  the Bank's  regulatory
capital position at December 31, 2002:
<TABLE>
<CAPTION>
Tangible Capital:
<S>                               <C>                      <C>
         Actual                   $16,822,000              9.39%
         Required                   2,687,000              1.50
         Excess                   $14,135,000              7.89%

Core Capital:
         Actual                   $16,822,000              9.39%
         Required                   5,375,000              3.00
         Excess                   $11,447,000              6.39%

Risk-Based Capital:
         Actual                   $17,405,000             13.38%
         Required                  10,408,000              8.00
         Excess                   $ 6,997,000              5.38%
</TABLE>

                                        6
<PAGE>

                           HIGH COUNTRY BANCORP, INC.
                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
                                   (UNAUDITED)
                                December 31, 2002


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 DECEMBER 31, 2002

The Company's total assets increased by $2.5 million or 1.4% from $176.6 million
at June 30, 2002 to $179.1  million at December 31, 2002. The increase in assets
was due to growth in loans and mortgage-backed securities.

Interest-bearing  deposits  decreased $4.8 million from $8.6 million at June 30,
2002 to $3.8 million at December 31, 2002.  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, to $11.6 million at December 31, 2002.  The increase was due
to the purchase of an adjustable-rate and short term mortgage backed security in
order to improve investment yields as compared to interest-bearing  deposits and
lower  interest rate risk. At December 31, 2002, the securities had an estimated
fair value of $11.7 million.

Net loans  increased $5.0 million from $143.8 million at June 30, 2002 to $148.8
million at December  31, 2002.  During the six months  ended  December 31, 2002,
single family construction loans increased $2.2 million,  single family mortgage
loans $2.1 million,  commercial  non-mortgage loans $1.6 million, and commercial
real estate loans $1.2 million.  Auto loans  decreased  $900,000 during the same
period.  Refinancing  activity due to low  interest  rates,  local  construction
activity and seasonal commercial loan demand has helped loan originations.

During the six months ended  December 31, 2002,  the Bank sold $29.5  million of
fixed-rate loans to the Federal Home Loan Mortgage Corporation.  At December 31,
2002,  loans held for sale were $2.1 million.  The loans are valued at the lower
of cost or market.

As of  December  31, 2002 and June 30,  2002,  the  non-performing  loans in the
Bank's  portfolio  were $2.8 and $1.6  million,  respectively.  The increase was
primarily due to the addition of four non-performing loans totaling $1.1 million
to two tourism  related  companies.  These  companies and other tourism  related
businesses were adversely  impacted in the summer of 2002 by a major drought and
nearby forest fires which  negatively  impacted the local tourism  economy.  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 December 31, 2002 included 33 loans
secured by  commercial  real  estate,  single  family  residences,  vacant land,
business equipment and autos.

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 December 31, 2002, the
majority of the watch list was seven loans  totaling $2.7 million to two tourism
related businesses. One borrower with three of these loans totaling $2.0 million
has received an SBA loan  commitment of $640,000 for disaster  assistance.  This
same borrower also has two non-performing loans totaling $580,000. The loan will
allow  loans to be  brought  current,  repayment  of a portion  of the loans and
provide  working  capital for  operations  until the 2003 summer  tourism season
begins.  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 six months ended December 31, 2002.

                                        8
<PAGE>
                           HIGH COUNTRY BANCORP, INC.
                      MANAGEMENT'S DISCUSSION AND ANALYSIS

The allowance for loan losses totaled $1.6 million at December 31, 2002 and $1.5
million at June 30, 2002.  At December 31, 2002 and June 30, 2002,  the ratio of
the  allowance  for loan losses to net loans was 1.08% and 1.03%,  respectively.
During  the six months  ended  December  31,  2002,  there was  $60,000 of loans
charged off and $2,000 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 $484,000 from $6.1 million at June 30, 2002 to
$6.6  million at December  31,  2002.  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.

At December 31, 2002  deposits  increased  $6.4  million to $122.5  million from
$116.1 million at June 30, 2002.  Competitive rates and stock market uncertainty
fueled the growth.  The increase  funded loan growth and the pay down of Federal
Home Loan Bank advances.

Escrow accounts  decreased from $657,000 at June 30, 2002 to $29,000 at December
31, 2002.  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 $38.4 million at December
31, 2002 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 December
2002, the Company repurchased 7,000 shares at a cost of $163,000. 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  23,800
shares at a cost of $445,000.

COMPARISON OF OPERATING RESULTS FOR THE THREE MONTHS ENDED DECEMBER 31, 2002 AND
2001

Net Income.  The  Company's  net income for the three months ended  December 31,
2002 was $531,000  compared to $474,000 for the three months ended  December 31,
2001. The increase in net income resulted  primarily from increased net interest
income which offset increased  non-interest  compensation expense and income tax
expense.

Net Interest Income. Net interest income for the three months ended December 31,
2002 was $1.9  million  compared  to $1.7  million  for the three  months  ended
December 31, 2001.  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 8.18% for the three months ended December
31, 2001 to 7.49% for the three months ended December 31, 2002. The decrease due
to loans  refinancing at lower rates was partially offset by reinvestment  since
December  2001 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 three  months  ended
December  31, 2001 to 3.46% for the three months  ended  December 31, 2002.  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
3.82% for the
                                        9
<PAGE>
                           HIGH COUNTRY BANCORP, INC.
                      MANAGEMENT'S DISCUSSION AND ANALYSIS

three  months  ended  December  31,  2001 to 4.03%  for the three  months  ended
December 31, 2002.

Provision  for Losses on Loans.  The provision for loan loss was $77,000 for the
three months ended December 31, 2002 as compared to $55,000 for the three months
ended  December 31, 2001.  The increase was the result of  provisions  for loans
impacted by the drought and loan charge offs.

Non-interest Income. Non-interest income was $615,000 for the three months ended
December 31, 2002 as compared to $596,000  for the three  months ended  December
31, 2001.  Title and escrow fees  declined due to a change at High Country Title
and Escrow Company which limited escrow  closing  services and associated  fees.
This  decrease  in title and  escrow  fees was  offset by an  increase  in other
non-interest  income.  The increase in other income was  primarily due to higher
loan origination fees.

Non-interest  Expenses.  Non-interest expenses increased $67,000 to $1.5 million
for the three  months  ended  December  31, 2002 as compared to the three months
ended  December 31, 2001. 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.

COMPARISON  OF OPERATING  RESULTS FOR THE SIX MONTHS ENDED  DECEMBER 31 2002 AND
2001

Net Income.  The Company's net income for the six months ended December 31, 2002
was $969,000  compared to $885,000  for the six months ended  December 31, 2001.
The increase in net income resulted primarily from increased net interest income
which offset increased compensation, occupancy and other operating expenses.

Net Interest  Income.  Net interest income for the six months ended December 31,
2002 was $3.7 million compared to $3.3 million for the six months ended December
31, 2001. 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 8.33% for the six months ended December 31, 2001 to 7.56%
for  the  six  months  ended  December  31,  2002.  The  decrease  due to  loans
refinancing at lower rates was partially  offset by reinvestment  since December
2001 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 4.56% for the six months ended December 31, 2001
to 3.55% for the six months ended  December  31,  2002.  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 six months ended
December 31, 2001 to 4.01% for the six months ended December 31, 2002.

Non-interest Income. Non-interest income increased from $1.0 million for the six
months ended December 31, 2001 to $1.1 million for the six months ended December
31, 2002.  The increase is primarily due to higher other income which  primarily
consists  of loan  origination  fees.  The  Bank  has  recently  increased  loan
origination  fees and started  charging  fees for all loans.  The  increase  was
offset by lower title and escrow fees which decreased due a reduction in closing
services at High Country Title and Escrow Company.

Non-interest  Expense.  Non-interest expense increased from $2.8 million for the
six months  ended  December  31, 2001 to $3.0  million for the six months  ended
December 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

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 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.

                                       11
<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.


                                       12
<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.

          The  Company  held its annual  meeting on October  29, 2002 in Salida,
          Colorado.  At the  meeting,  Larry D. Smith and  Richard A. Young were
          reelected to three-year terms. The voting results were as follows:

                                         Votes For             Withheld
                                    Number    Percent     Number   Percent
                                    --------------------------------------
          Larry D. Smith            799,122   99.99%       40        0.01%
          Richard A. Young          799,097   99.99%       65        0.01%

          There were 72,449 broker non-votes.

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

                                       13
<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 February 6, 2003                      /s/  Larry D. Smith
                                           -------------------------------------
                                           Larry D. Smith
                                           President and Chief Executive Officer
                                           (Duly Authorized Officer)



Date February 6, 2003                      /s/  Frank L. DeLay
                                           -------------------------------------
                                           Frank L. DeLay
                                           Chief Financial Officer
                                           (Principal Financial Officer)


                                       14
<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: February 6, 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:  February 6, 2003

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