EXHIBIT 4.5

                         FORM OF STOCK OPTION AGREEMENT
                          TO BE ENTERED INTO UNDER THE
                        DIRECTORS STOCK COMPENSATION PLAN


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                      NON-INCENTIVE STOCK OPTION AGREEMENT
                               GFSB BANCORP, INC.
                        DIRECTORS STOCK COMPENSATION PLAN


         A NON-INCENTIVE  STOCK OPTION ("Option") for a total of _____ shares of
Common Stock of GFSB Bancorp,  Inc.  (the  "Corporation")  is hereby  granted to
_________________  (the "Optionee") pursuant to the GFSB Bancorp, Inc. Directors
Stock Compensation Plan ("Directors Plan"). The Option granted hereby is subject
in all  respects  to the terms and  provisions  of the  Directors  Plan and this
Agreement. The Directors Plan is hereby incorporated herein by reference.

         1. Exercise Price.  The exercise price shall be  $___________  for each
share of Common  Stock  eligible to be exercised  hereunder,  which price is not
less than 100% of the fair market value of the Common Stock on the date of grant
of this Option (April 28, 2000).

         2. Exercise of Option.  This Option shall be exercisable as of the date
of grant.

                  (a)      Method of Exercise.  This Option shall be exercisable
                           by a written notice which shall:

                           (i) state the  election to exercise  the Option,  the
                           number of shares  with  respect  to which it is being
                           exercised,   the  person  in  whose  name  the  stock
                           certificate or certificates for such shares of Common
                           Stock is to registered, his or her address and Social
                           Security  number  (or if more  than one,  the  names,
                           addresses and Social Security numbers of each of such
                           persons);

                           (ii) be signed by the person or persons  entitled  to
                           exercise  the  Option  and,  if the  Option  is being
                           exercised  by any  person or  persons  other than the
                           Optionee,  be accompanied by proof,  satisfactory  to
                           counsel  for the  Corporation,  of the  right of such
                           person or persons to exercise the Option; and

                           (iii)  be in writing  and  delivered  in person or by
                           certified mail to the Corporation at its main office.

Payment of the purchase  price of any shares with respect to which the Option is
being  exercised  shall be by cash or by certified or cashier's check payable to
the Corporation,  in shares of Common Stock (including  shares acquired pursuant
to the  exercise of this  Option)  with a fair market  value  equivalent  to the
purchase  price  of the  shares  to be  acquired  pursuant  to this  Option,  by
withholding  some of the shares of Common  Stock  which are  purchased  upon the
exercise of this Option or by any combination of the foregoing.

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                  (b) Restriction on Exercise.  This Option may not be exercised
if the issuance of the shares upon such exercise would constitute a violation of
any applicable federal or state securities law or other law or regulation.  As a
condition to the exercise of this Option, the Corporation may require the person
exercising this Option to make any representative or warranty to the Corporation
as may be required by any applicable law or regulation.

         3. Non-transferability of Option. This Option may not be transferred in
any manner otherwise than by will or the laws of descent and  distribution,  and
may be exercised during the lifetime of the Optionee only by the Optionee or the
Optionee's guardian or legal  representative.  The terms of this Option shall be
binding  upon  the  executors,  administrators,  heirs,  successors,  guardians,
assigns or legal representatives of the Optionee.

         4. Term of Option.  This Option may be  exercised  until the earlier of
(i) ten years  from the date of grant of this  Option,  or (ii) in the event the
Optionee  dies,  one year after the date of death  unless by its term it expires
sooner.  This Option may be exercised  during such term only in accordance  with
the Directors Plan and the terms of this Agreement.

         5. Related  Matters.  Notwithstanding  anything herein to the contrary,
additional  conditions or restrictions  related to such Options may be contained
in the Director Plan.


                                      ON BEHALF OF THE PLAN
                                      ADMINISTRATOR OF THE GFSB
                                      BANCORP, INC. DIRECTORS  STOCK
                                      COMPENSATION PLAN



Date of Grant: April 28, 2000         By:_______________________________________


                                      Attest:___________________________________





Agreed to and accepted this ____ day of _____________, 2000:


______________________________________
Optionee


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                   GFSB BANCORP, INC. STOCK COMPENSATION PLAN
                    NON-INCENTIVE STOCK OPTION EXERCISE FORM


                             _______________________
                                      DATE


ATTN:             Corporate Secretary
                  GFSB  Bancorp, Inc.


Dear Sir or Madam:

The  undersigned  elects  to  exercise  his/her  Non-Incentive  Stock  Option to
purchase  ______________ shares of Common Stock of GFSB Bancorp, Inc., under and
pursuant  to a Notice of Grant of  Non-Incentive  Stock  Option  dated April 28,
2000.

Delivered  herewith is cash, or a certified or cashier's  check or GFSB Bancorp,
Inc. Common Stock, or a combination thereof, in the amount of $______________ in
payment of the option  price.  If Common  Stock is  enclosed  in full or partial
consideration of the purchase price, I am also attaching a notification from the
Plan Administrator  advising: (i) that such means of payment has been authorized
and (ii) as to the fair market value of the shares proposed to be tendered by me
as required by the provisions of the Plan.

The name or names to be on the stock certificate or certificates and the address
and social  security  number or addresses  and social  security  numbers of such
person or persons is as follows:

Name:
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Address:
          ----------------------------------------------------------------------

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                 City                      State                     Zip Code

Social Security Number:
                         -------------------------------

Very truly yours,


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(Signature of Person or Persons Exercising the Option)


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                  (Print Name and Address)