FOR IMMEDIATE RELEASE                                Contact: Larry D. Smith
                                                              (719) 539-2516

                           HIGH COUNTRY BANCORP, INC.
   ANNOUNCES THE PAYMENT OF SEMI-ANNUAL CASH DIVIDENDS AND QUARTERLY EARNINGS

Salida,  Colorado --- April 30, 2003: High Country  Bancorp,  Inc. (NASDAQ Small
Cap: HCBC)  announced the payment date of its  semi-annual  cash  dividend.  The
dividend  will be in the  amount of $0.25 per share  payable on or about May 22,
2003 to stockholders of record at the close of business on May 8, 2003.

Larry D. Smith,  President  of the  Company,  stated that the Board of Directors
determined  that the  payment  of a  dividend  was  appropriate  in light of the
Company's  financial  condition and results of operations.  He noted that future
earnings and payment of dividends 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, demand for
loans in the Company's market area, and competition.

For the quarter ending March 31, 2003, the Company had net income of $489,000 or
$0.54 per diluted  share as compared to $362,000 or $0.41 per diluted  share for
the quarter  ending March 31, 2002.  For the nine months  ending March 31, 2003,
the Company  had net income of $1.5  million or $1.61 per  diluted  share.  This
compares to $1.2 million or $1.37 per diluted  share for the nine months  ending
March 31,  2002.  The  increase  in net income for the  quarter  and nine months
ending March 31, 2003 resulted  primarily from increased net interest income and
non-interest income which offset increased loan loss provisions and non-interest
expenses.  Total assets  increased  $6.5 million from $176.6 million at June 30,
2002 to $183.1  million at March 31, 2003.  The increase in assets was primarily
due to loan growth.

High Country Bancorp,  Inc., is the holding company for High Country Bank, which
conducts business through its main office in Salida, Colorado, branch offices in
Salida,  Leadville and Buena Vista,  Colorado. At April 29, 2003 the Company had
895,009 shares of common stock issued and outstanding.

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.