EXHIBIT 10.17

                      INDEXED EXECUTIVE SALARY CONTINUATION
                          PLAN AGREEMENT BY AND BETWEEN
                         FIRST FEDERAL BANK OF LAGRANGE
                                       and
                              WILLIAM F. HOLLE, JR.


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              INDEXED EXECUTIVE SALARY CONTINUATION PLAN AGREEMENT

        This Agreement, made and entered into this 3rd day of February, 1995, by
and between  First  Federal  Savings  Bank of  LaGrange,  a Bank  organized  and
existing under the laws of the State of Georgia, hereinafter referred to as "the
Bank", and William F. Holle, Jr., hereinafter referred to as "Holle, Jr."

        Holle,  Jr. was in the employ of the Bank for several years during which
time he  faithfully  served  the  Bank.  It is the  consensus  of the  Board  of
Directors  of the Bank (the  Board)  that  Holle,  Jr.'s  services  have been of
exceptional  merit,  in  excess  of the  compensation  paid  and  an  invaluable
contribution to the profits and position of the Bank. The Board further believes
that Holle Jr.'s  experience,  knowledge of corporate  affairs,  reputation  and
industry  contacts  are of  extreme  value and his  continued  goodwill  is also
essential to the Bank's future growth and profits.

        Accordingly,  it is the desire of the Bank and Holle,  Jr. to enter into
this  Agreement  under  which the Bank will agree to make  certain  payments  to
Holle, Jr.

        It is the intent of the parties hereto that this Agreement be considered
an arrangement maintained primarily to provide supplemental  retirement benefits
for   Holle,   Jr.,   as  a  member  of  a  select   group  of   management   or
highly-compensated employees of the Bank for purposes of the Employee Retirement
Security  Act of 1974  (ERISA).  Holle,  Jr.  is  fully  advised  of the  Bank's
financial  status and has had  substantial  input in the design and operation of
this benefit plan.

        Therefore,  in consideration of Holle,  Jr.'s services  performed in the
past and his continued goodwill in the future and based upon the mutual promises
and covenants herein contained, the Bank and Holle, Jr., agree as follows:


I.       DEFINITIONS

         A.       Effective Date:

                  The  Effective  Date of this  Agreement  shall be  February 3,
                  995.

         B.       Plan Year:

                  Any  reference to "Plan Year" shall mean a calendar  year from
                  January 1 to December 31. In the year of  implementation,  the
                  term "Plan Year" shall mean the period from the effective date
                  to December 31 of the year of the effective date.

         C.       Index Retirement Benefit:

                  The Index  Retirement  Benefit for Holle,  Jr. for any year
                  shall be equal to the annual earnings (if any) determined by
                  the Index [subparagraph I (D) for that Plan Year.
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         D.       Index:

                  The  Index  for any Plan Year  shall be the  aggregate  annual
                  after-tax income from the life insurance  contracts  described
                  hereinafter as defined by FASB Technical  Bulletin 85-4.  This
                  Index  shall be applied as if such  insurance  contracts  were
                  purchased on the effective date hereof.

                  Insurance Company:           Alexander Hamilton Life Insurance
                                                 Company
                  Policy Form:                 Universal Life
                  Policy Name:                 Executive Security Plan III
                  Insured's Age and Sex:       44, Male
                  Riders:                      None
                  Ratings:                     Table 2
                  Option:                      A
                  Face Amount:                 $379,000
                  Premiums Paid:               $150,000
                  Number of Premium Payments:  One
                  Assumed Purchase Date:       February 3, 1995

                  Insurance Company:           Alexander Hamilton Life Insurance
                                                  Company
                  Policy Form:                 Universal Life
                  Policy Name:                 Executive Security Plan III
                  Insured's Age and Sex:       50, Male
                  Riders:                      None
                  Ratings:                     None
                  Option:                      A
                  Face Amount:                 $364,000
                  Premiums Paid:               $150,000
                  Number of Premium Payments:  One
                  Assumed Purchase Date:       February 3, 1995

                  If such contracts of life insurance are actually  purchased by
                  the Bank then the  actual  policies  as of the dates they were
                  purchased shall be used in calculations  under this Agreement.
                  If such  contracts of life  insurance are not purchased or are
                  subsequently  surrendered  or  lapsed,  then  the  Bank  shall
                  receive  annual  policy  illustrations  that  assume the above
                  described   policies  were  purchased  from  the  above  named
                  insurance  company(ies)  on the Effective  Date from which the
                  increase in policy value will be used to calculate  the amount
                  of the Index.

                  In either case,  references to the life insurance contract are
                  merely for purposes of calculating a benefit.  The Bank has no
                  obligation to purchase such life  insurance and, if purchased,
                  Holle,  Jr. and his  beneficiary(ies)  shall have no ownership
                  interest  in such  policy  and shall  always  have no  greater
                  interest in the benefits  under this Agreement than that of an
                  unsecured general creditor of the Bank.

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II.      INDEX BENEFITS

         A.       Retirement Benefits:

                  Commencing on the Effective  Date hereof the Index  Retirement
                  Benefit [as defined in subparagraph I (D) above] for each year
                  shall be paid to Holle, Jr. until his death.

         B.       Death Benefit:

                  There is no death benefit provided under this Agreement.

III.     RESTRICTIONS UPON FUNDING

         The Bank shall have no obligation to set aside,  earmark or entrust any
         fund or money with which to pay its  obligations  under this Agreement.
         Holle,  Jr., his  beneficiary(ies)  or any successor in interest to him
         shall be and remain  simply a general  creditor of the Bank in the same
         manner as any other  creditor  having a general  claim for  matured and
         unpaid compensation.

         The Bank reserves the absolute  right at its sole  discretion to either
         fund the  obligations  undertaken by this  Agreement or to refrain from
         funding the same and to  determine  the exact nature and method of such
         funding.  Should the Bank elect to fund this Agreement,  in whole or in
         part, through the purchase of life insurance,  mutual funds, disability
         policies or  annuities,  the Bank reserves the absolute  right,  in its
         sole discretion,  to terminate such funding at any time, in whole or in
         part. At no time shall Holle,  Jr. be deemed to have any lien or right,
         title or interest in or to any specific  funding  investment  or to any
         assets of the Bank.

         If the Bank elects to invest in a life insurance, disability or annuity
         policy upon the life of Holle,  Jr.,  then Holle,  Jr. shall assist the
         Bank by  freely  submitting  to a  physical  exam  and  supplying  such
         additional information necessary to obtain such insurance or annuities.


IV.      MISCELLANEOUS

         A.       Alienability and Assignment Prohibition:

                  Neither Holle,  Jr., his widow nor any other beneficiary under
                  this  Agreement  shall  have any  power or right to  transfer,
                  assign, anticipate,  hypothecate, mortgage, commute, modify or
                  otherwise  encumber  in advance  any of the  benefits  payable
                  hereunder nor shall any of said benefits be subject to seizure
                  for the payment of any debts,  judgments,  alimony or separate
                  maintenance  owed by  Holle,  Jr. or his  beneficiary,  nor be
                  transferable  by operation of law in the event of  bankruptcy,
                  insolvency  or  otherwise.  In the  event  Holle,  Jr.  or any
                  beneficiary attempts assignment,  commutation,  hypothecation,
                  transfer  or disposal of the  benefits  hereunder,  the Bank's
                  liabilities shall forthwith cease and terminate.

         B.       Binding Obligation of Bank and Any Successor in Interest:

                  The  Bank  expressly   agrees  that  it  shall  not  merge  or
                  consolidate  into or with another  bank or sell  substantially
                  all of its assets to another  bank,  firm or person until such
                  bank, firm or person expressly agrees,  in writing,  to assume
                  and  discharge  the duties and  obligations  of the Bank under



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                  this  Agreement.  This  Agreement  shall be  binding  upon the
                  parties hereto, their successors,  beneficiary(ies), heirs and
                  personal representatives.

         C.       Revocation:

                  It is agreed by and between the parties  hereto  that,  during
                  the lifetime of Holle,  Jr., this  Agreement may be amended or
                  revoked  at any time or  times,  in  whole or in part,  by the
                  mutual written assent of Holle, Jr. and the Bank.

         D.       Gender:

                  Whenever in this Agreement  words are used in the masculine or
                  neuter  gender,  they  shall be read and  construed  as in the
                  masculine,  feminine or neuter gender, whenever they should so
                  apply.

         E.       Effect on Other Bank Benefit Plans:

                  Nothing  contained in this Agreement shall affect the right of
                  Holle, Jr. to participate in or be covered by any qualified or
                  non-qualified pension,  profit-sharing,  group, bonus or other
                  supplemental  compensation or fringe benefit plan constituting
                  a  part  of  the  Bank's   existing  or  future   compensation
                  structure.

         F.       Headings:

                  Headings and  subheadings  in this  Agreement are inserted for
                  reference and convenience  only and shall not be deemed a part
                  of this Agreement.

         G.       Applicable Law:

                  The validity and  interpretation  of this  Agreement  shall be
                  governed by the laws of the State of Georgia.


V.       ERISA PROVISION

         A.       Named Fiduciary and Plan Administrator:

                  The  "Named  Fiduciary  and Plan  Administrator"  of this plan
                  shall be First  Federal  Savings  Bank of  LaGrange  until its
                  removal by the Board.  As Named  Fiduciary and  Administrator,
                  the Bank shall be responsible for the management,  control and
                  administration  of  the  Salary   Continuation   Agreement  as
                  established  herein. He may delegate to others certain aspects
                  of the management and operation  responsibilities  of the plan
                  including  the  employment  of advisors and the  delegation of
                  ministerial duties to qualified individuals.

         B.       Claims Procedure and Arbitration:

                  In the  event  a  dispute  arises  over  benefits  under  this
                  Agreement  and benefits are not paid to Holle,  Jr. (or to his
                  beneficiary  in the  case of  Holle,  Jr.'s  death)  and  such
                  claimants  feel they are  entitled to receive  such  benefits,
                  then a written  claim  must be made to the Plan  Administrator
                  named above within ninety (90) days from the date payments are
                  refused. The Plan Administrator shall review the written claim

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                  and if the claim is  denied,  in whole or in part,  they shall
                  provide in writing  within ninety (90) days of receipt of such
                  claim their specific reasons for such denial, reference to the
                  provisions  of this  Agreement  upon which the denial is based
                  and  any  additional  material  or  information  necessary  to
                  perfect the claim.  Such written notice shall further indicate
                  the  additional  steps to be taken by  claimants  if a further
                  review of the claim denial is desired. A claim shall be deemed
                  denied  if the Plan  Administrator  fails  to take any  action
                  within the aforesaid ninety-day period.

                  If claimants desire a second review they shall notify the Plan
                  Administrator  in writing within ninety (90) days of the first
                  claim  denial.  Claimants  may review  this  Agreement  or any
                  documents  relating  thereto and submit any written issues and
                  comments they may feel  appropriate.  In its sole  discretion,
                  the Plan Administrator  shall then review the second claim and
                  provide a written  decision within ninety (90) days of receipt
                  of such claim. This decision shall likewise state the specific
                  reasons  for the  decision  and  shall  include  reference  to
                  specific  provisions of this Agreement upon which the decision
                  is based.

                  If claimants continue to dispute the benefit denial based upon
                  completed  performance  of this  Agreement  or the meaning and
                  effect of the term and conditions thereof,  then claimants may
                  submit  the  dispute  to a  Board  of  Arbitration  for  final
                  arbitration.  Said Board shall consist of one member  selected
                  by the  claimant,  one member  selected  by the Bank,  and the
                  third  member  selected  by the first two  members.  The Board
                  shall   operate  under  any   generally   recognized   set  of
                  arbitration  rules.  The  parties  hereto  agree that they and
                  their heirs, personal representatives,  successors and assigns
                  shall be bound by the  decision of such Board with  respect to
                  any controversy properly submitted to it for determination.

                  Where a dispute  arises as to the Bank's  discharge  of Holle,
                  Jr. "for cause",  such dispute shall  likewise be submitted to
                  arbitration as above described and the parties hereto agree to
                  be bound by the decision thereunder.


         IN  WITNESS  WHEREOF,  the  parties  hereto  acknowledge  that each has
carefully read this  Agreement and executed the original  thereof on the 3rd day
of February, 1995 and that, upon execution, each has received a conforming copy.


                                        First Federal Savings Bank of LaGrange


/s/ Tracie Alder                        By:      /s/ Ellison C. Rudd
----------------                                 -------------------
Witness                                 Title



/s/ Paula Brooks                        By:      /s/ William F. Holle, Jr.
----------------                                 -------------------------
Witness                                          William F. Holle, Jr.



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