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  September 30, 2001

      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 November 1, 2001
922,209



<PAGE>

                           HIGH COUNTRY BANCORP, INC.
                                    CONTENTS


PART I - FINANCIAL INFORMATION

  Item 1:    Financial Statements

             Consolidated Statements of Condition at June 30, 2000 and
             September 30, 2001                                            3

             Statements of  Consolidated  Income for the Three Months
             Ended September 30, 2001 and 2000                             4

             Statements of Consolidated Cash Flows for the Three Months
             Ended September 30, 2001 and 2000                             5

             Notes to Financial Statements                                 6 - 7

  Item 2:    Management's Discussion and Analysis or Plan of Operations    8 -10

PART II - OTHER INFORMATION

  Item 1:    Legal Proceedings                                                11

  Item 2:    Changes in Securities and Use of Proceeds                        11

  Item 3:    Defaults Upon Senior Securities                                  11

  Item 4:    Submission of Matters to a Vote of Security Holders              11

  Item 5:    Other Information                                                11

  Item 6:    Exhibits and Reports on Form 8-K                                 11

  Signature                                                                   11


                                        2


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


<TABLE>
<CAPTION>
                                                                                       September 30,        June 30,
                            ASSETS                                                          2001             2001
                                                                                       ------------------------------
<S>                                                                                     <C>              <C>
Cash and amounts due from banks                                                        $  3,098,238      $  2,759,671
Interest- bearing deposits at other institutions                                         16,791,612         9,175,856
Mortgage-backed securities, held to maturity                                              2,058,768         2,220,909
Loans receivable - net                                                                  135,909,594       135,916,318
Loans held for sale                                                                         357,300           917,500
Federal Home Loan Bank stock, at cost                                                     2,421,600         2,421,600
Accrued interest receivable                                                               1,092,884         1,121,412
Property and equipment, net                                                               6,158,002         6,111,907
Mortgage servicing rights                                                                    11,237            14,504
Prepaid expenses and other assets                                                           547,511           508,187
Deferred income taxes                                                                       180,000           162,800
                                                                                       ------------      ------------
            TOTAL ASSETS                                                               $168,626,746      $161,330,664
                                                                                       ============      ============
                    LIABILITIES AND EQUITY
LIABILITIES
Deposits                                                                               $107,340,261      $ 98,517,228
Advances by borrowers for taxes and insurance                                               120,708            29,724
Escrow accounts                                                                           1,061,762         1,070,624
Accounts payable and other liabilities                                                      931,611           988,588
Advances from Federal Home Loan Bank                                                     43,574,999        44,124,999
Accrued income taxes payable                                                                321,474            40,167
                                                                                       ------------      ------------
            TOTAL LIABILITIES                                                           153,350,815       144,771,330
                                                                                       ------------      ------------
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 922,209 (September 30, 2001) and
  1,028,992 shares (June 30, 2001)                                                            9,222            10,290
Paid-in capital                                                                           7,463,269         9,151,686
Retained earnings - substantially restricted                                              8,621,749         8,215,667
Note receivable from ESOP Trust                                                            (626,865)         (626,865)
Deferred MRP stock awards                                                                  (191,444)         (191,444)
                                                                                       ------------      ------------
            TOTAL EQUITY                                                                 15,275,931        16,559,334
                                                                                       ------------      ------------
            TOTAL LIABILITIES AND EQUITY                                               $168,626,746      $161,330,664
                                                                                       ============      ============
</TABLE>

                 SEE NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

                                        3

<PAGE>

                                 HIGH COUNTRY BANCORP, INC.
                              CONSOLIDATED STATEMENTS OF INCOME
                                         (UNAUDITED)
<TABLE>
<CAPTION>
                                                                    Three Months Ended
                                                                      September 30,
                                                                    2001              2000
                                                               -----------        -----------
<S>                                                            <C>                <C>
Interest Income
      Interest on loans                                        $ 3,105,347        $ 2,723,299
      Interest on securities held-to-maturity                       35,610             47,468
      Interest on other interest- bearing assets                   138,411             48,319
                                                               -----------        -----------
                  Total interest income                          3,279,368          2,819,086
                                                               -----------        -----------
Interest Expense
      Deposits                                                     985,554            837,742
      Federal Home Loan Bank advances                              672,645            603,286
                                                               -----------        -----------
                  Total interest expense                         1,658,199          1,441,028
                                                               -----------        -----------
                  Net interest income                            1,621,169          1,378,058

Provision for losses on loans                                       60,000             60,000
                                                               -----------        -----------
                  Net interest income after provision
                        for loan losses                          1,561,169          1,318,058
                                                               -----------        -----------
Noninterest Income
      Service charges on deposits                                   62,288             44,110
      Loans sold                                                   182,829             35,604
      Title and escrow fees                                         93,615             62,595
      Other                                                         92,128             69,319
                                                               -----------        -----------
                  Total noninterest income                         430,860            211,628
                                                               -----------        -----------
Noninterest Expense
     Compensation and benefits                                     795,924            626,246
     Occupancy and equipment                                       304,523            258,810
     Insurance and professional fees                                86,449             69,872
     Other                                                         147,551            152,872
                                                               -----------        -----------
                  Total noninterest expense                      1,334,447          1,107,800
                                                               -----------        -----------
                  Income before income taxes                       657,582            421,886

                  Income tax expense                               251,500            161,472
                                                               -----------        -----------
                  Net income                                   $   406,082        $   260,414
                                                               ===========        ===========
Basic Earnings Per Common Share                                $      0.42        $      0.26
                                                               ===========        ===========
Diluted Earnings Per Common Share                              $      0.42        $      0.26
                                                               ===========        ===========
Weighted Average Common Shares
Outstanding             Basic                                      958,142            984,442
                        Diluted                                    976,668            984,442
</TABLE>

                       SEE NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
                                        4
<PAGE>
                           HIGH COUNTRY BANCORP, INC.
                      CONSOLIDATED STATEMENTS OF CASH FLOWS
                                   (UNAUDITED)
<TABLE>
<CAPTION>
                                                                                 Three Months Ended
                                                                                    September 30,
                                                                                 2001              2000
                                                                             ------------    ------------
<S>                                                                          <C>             <C>
Operating Activities
      Net income                                                             $    406,082    $    260,414
      Adjustments to reconcile net income to net cash provided
            by operating activities:
      Amortization of:
            Deferred loan origination fees                                        (44,305)        (33,202)
            Premiums on investments                                                 1,577           1,141
      ESOP market value expense                                                    15,702           3,637
      Provision for losses on loans                                                60,000          60,000
      Deferred income taxes                                                       (17,200)        (29,900)
      Depreciation                                                                115,242          96,399
      Income taxes                                                                281,307         187,520
      Net change in miscellaneous assets                                           (7,529)       (275,404)
      Net change in miscellaneous liabilities                                      34,007         (32,396)
                                                                             ------------    ------------
            Net cash provided by operating activities                             844,883         238,209
                                                                             ------------    ------------
Investing Activities
       Net change in interest bearing deposits                                 (7,615,756)     (1,120,487)
       Net change in loans receivable                                             551,229      (8,878,756)
       Principal repayments of mortgage-backed securities-held-to-maturity        160,564          65,041
       Purchase of Federal Home Loan Bank stock                                        --        (205,000)
       Purchases of property and equipment                                       (161,337)       (162,108)
                                                                             ------------    ------------
            Net cash used by investing activities                              (7,065,300)    (10,301,310)
                                                                             ------------    ------------
Financing Activities
      Net change in deposits                                                    8,823,033       4,784,607
      Net change in escrow funds                                                   (8,862)       (379,635)
      Purchase of common stock                                                 (1,705,187)             --
      Proceeds (payment) on FHLB advances                                        (550,000)      3,950,000
                                                                             ------------    ------------
              Net cash provided by financing activities                         6,558,984       8,354,972
                                                                             ------------    ------------
             Net increase (decrease) in cash and cash equivalents                 338,567      (1,708,129)

Cash and cash equivalents, beginning                                            2,759,671       4,392,623
                                                                             ------------    ------------
Cash and cash equivalents, ending                                            $  3,098,238    $  2,684,494
                                                                             ============    ============
Supplemental disclosure of cash flow information
Cash paid for:
     Taxes                                                                   $         --    $      3,550
     Interest                                                                   1,672,483       1,451,072
</TABLE>



                 SEE NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
                                        5
<PAGE>


                           HIGH COUNTRY BANCORP, INC.
                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
                                   (UNAUDITED)
                               SEPTEMBER 30, 2001
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, 2001,  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 three months ended September 30, 2001 are not necessarily  indicative of the
results of operations that may be expected for the year ended June 30, 2002. 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 2001 High Country Bancorp, Inc. financial statements

Note 3.  Regulatory Capital Requirements
At September 30, 2001, the Bank met each of the three current minimum regulatory
capital  requirements.  The following  table  summarizes  the Bank's  regulatory
capital position at September 30, 2001:

Tangible Capital:
         Actual                       $14,630,000               8.67%
         Required                       2,532,000               1.50
         Excess                       $12,098,000               7.17%

Core Capital:
         Actual                       $14,630,000               8.67%
         Required                       5,064,000               3.00
         Excess                       $ 9,566,000               5.67%

Risk-Based Capital:
         Actual                       $16,013,000              13.27%
         Required                       9,651,000               8.00
         Excess                       $ 6,362,000               5.27%

                                        6

<PAGE>

                           HIGH COUNTRY BANCORP, INC.
                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
                                   (UNAUDITED)
                               September 30, 2001

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, 2001 AND SEPTEMBER 30, 2001

The Company's total assets increased by $7.3 million or 6.4% from $161.3 million
at June 30, 2001 to $168.6 million at September 30, 2001. The increase in assets
was due to interest-bearing deposit growth of $7.6 million.

Interest bearing  deposits  increased $7.6 million from $9.2 million at June 30,
2001 to $16.8 million at September 30, 2001. The increase during the quarter was
primarily due to deposit growth. In October 2001 following the quarter end, $3.5
million  of the funds  was used to  purchase  adjustable  rate  mortgage  backed
securities. In the upcoming months, these funds may be used for paying down FHLB
advances,  seasonal  deposit  withdrawals,  loan  demand  and  other  investment
purchases.   The  balance  of  the  Company's   investment   portfolio  included
mortgage-backed securities classified as "held to maturity" carried at amortized
cost and estimated fair value of $2.1 million.

Net loans totaled  $136.3  million at September  30, 2001 and $136.8  million at
June 30,  2001.  During the three months ended  September  30, 2001,  commercial
mortgage  loans  increased  $1.9 million and single  family  construction  loans
increased $1.3 million.  The bank benefited from strong local purchase financing
and loan  refinancing.  The loan  growth in these  areas  offset a $3.1  million
decrease in single family  mortgage  loans  associated  with the  refinancing of
portfolio loans into sold loans.

During the  quarter,  the Bank sold $11.8  million  of  fixed-rate  loans to the
Federal Home Loan Mortgage  Corporation.  At September 30, 2001,  loans held for
sale were $357,000. The loans are valued at the lower of cost or market.

The  allowance  for loan losses  totaled $1.4 million at September  30, 2001 and
$1.3 million at June 30,  2001.  At  September  30, 2001 and June 30, 2001,  the
ratio of the  allowance  for loan  losses to net  loans  was  1.01%  and  0.99%,
respectively. As of those dates the non-performing loans in the Bank's portfolio
were $1.9 and $1.8  million,  respectively.  The total  non-performing  loans at
September 30, 2001 include 33 loans secured by  commercial  real estate,  single
family  residences,  vacant  land,  business  equipment  and autos.  The largest
non-performing  loan totals  $728,000 and is a business  purpose loan secured by
two single family  residences and vacant land. No loss is expected on this loan.
During the three months ended  September  30, 2001,  there were $25,000 of loans
charged off and no 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.

At September 30, 2001 deposits increased to $107.3 million from $98.5 million at
June 30, 2001 or a net increase of 8.96%. Seasonal growth, competitive rates and
stock market  uncertainty  fueled the growth.  The increase funded investment in
interest bearing deposits.

Advances from the Federal Home Loan Bank decreased to $43.6 million at September
30,  2001 from  $44.1  million  at June 30,  2001.  Over the next few  quarters,
advances are expected to decrease as they mature and are paid off with  interest
bearing deposits.

In September  2001,  the Bank  completed  the stock  repurchase  program that it
commenced in November 2000.  For the three months ended  September 30, 2001, the
Bank repurchased 106,783 shares at a cost of $1.7 million.

                                        8
<PAGE>

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

COMPARISON  OF OPERATING  RESULTS FOR THE THREE MONTHS ENDED  SEPTEMBER 30, 2001
AND 2000

Net Income.  The Company's  net income for the three months ended  September 30,
2001 was $406,000  compared to $260,000 for the three months ended  September 30
2000. The increase in net income  resulted  primarily  from  increased  interest
income and non-interest income which offset increased interest, compensation and
occupancy expense.

Net Interest  Income.  Net interest  income for the three months ended September
30, 2001 was $1.7  million  compared to $1.4  million for the three months ended
September 30, 2000. The increase is attributed to increased  interest  earned on
interest earning assets due to loan growth less the increase in interest expense
due to the  increase  in interest  bearing  liabilities.  The  average  yield on
interest  earning  assets  decreased  from  8.53%  for the  three  months  ended
September 30, 2000 to 8.45% for the three months ended  September 30, 2001.  The
decrease was due to growth in low earning interest bearing deposits. The average
cost of interest  bearing  liabilities  also  decreased from 4.93% for the three
months ended  September  30, 2000 to 4.75% for the three months ended  September
30,  2001.  The  decrease  in costs was due to  falling  deposit  rates and less
reliance on higher costing Federal Home Loan Advances.  The interest rate spread
increased from 3.60% for the three months ended  September 30, 2000 to 3.70% for
the three months ended September 30, 2001.

Non-interest Income. Non-interest income was $431,000 for the three months ended
September 30, 2001 as compared to $212,000 for the three months ended  September
30, 2000. Loan  origination  growth from favorable  mortgage loan interest rates
increased  income from loan sales. The increased loan activity also helped boost
title and escrow fees from High Country Title and Escrow  Company and other loan
fees.

Non-interest  Expenses.  Non-interest  expenses  were $1.3 million for the three
months ended September 30, 2001 as compared to $1.1 million for the three months
ended  September  30,  2000.  Increases  occurred  in  compensation  and benefit
expense,  occupancy  expense  and  other  expenses.  The  increases  are tied to
additional employees associated with 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 OTS repealed a statutory  liquidity  requirement  in late 2000. The Bank was
previously   required  to  maintain  a  minimum   ratio  of  4%.  Under  revised
regulations,  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 revised regulations.

                                        9
<PAGE>




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

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.





                                       10



<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)   The following exhibit is filed herewith:
                        Exhibit 3.2 Bylaws of High Country Bancorp, Inc.,
                        as amended
                  (b)   No reports on Form 8-K were filed during the quarter
                        ended September 30, 2001



     SIGNATURE

     Pursuant to the requirements of the Securities Exchange Act of 1934, the
     registrant has duly caused this report to be signed on its behalf by the
     undersigned thereunto duly authorized.

                                               High Country Bancorp, Inc.
                                               Registrant

     Date     November 5, 2001                 /s/ Larry D. Smith
              ----------------                 ---------------------------------
                                               Larry D. Smith, President





                                       11