December 29, 2003



Board of Directors
High Country Bancorp, Inc.
7360 West US Highway 50
Salida, Colorado 81201

                  Re:      Registration Statement on Form S-8

Gentlemen:

     We have acted as counsel to and for High Country Bancorp,  Inc., a Colorado
corporation (the "Company"),  in connection with the preparation and filing with
the Securities and Exchange  Commission of a Registration  Statement on Form S-8
(the  "Registration  Statement"),  for the  purpose  of  registering  under  the
Securities  Act of 1933, as amended,  up to 45,000 shares (the  "Shares") of the
Company's  common  stock,  $.01 par value per share (the  "Common  Stock").  The
Shares are issuable (i) upon the  exercise of options  ("Options")  and/or stock
appreciation  rights ("SARs")  granted under the Company's 2003 Incentive Equity
and Deferred Compensation Plan (the "Plan"), (ii) upon the grant of stock awards
("Stock  Awards")  under  the Plan,  and (iii)  upon  election  by any  eligible
director, officer or employee of the Company to receive deferred compensation in
the form of Common Stock ("Deferral Election") pursuant to the Plan.

     In our  capacity as counsel,  we have been  requested to render the opinion
set forth in this letter and, in  connection  therewith,  we have  reviewed  the
following documents:  (i) the Registration  Statement,  (ii) the Plan, (iii) the
Articles of Incorporation and Bylaws of the Company, in each case,  certified as
true and correct by the  Secretary  of the Company as of the date  hereof,  (iv)
certain  minutes of meetings or  unanimous  consents of the  Company's  Board of
Directors,  certified as true and correct by the  Secretary of the Company,  and
(v) a certificate  of the President and Secretary of the Company dated  December
29, 2003.

     In  rendering  this  opinion,  we have  assumed  and relied  upon,  without
independent  investigation,  (i) the authenticity,  completeness,  truth and due
authorization and execution of all documents submitted to us as originals,  (ii)
the genuineness of all signatures on all documents submitted to us as originals,
and (iii) the  conformity to the  originals of all documents  submitted to us as
certified or photostatic copies.

     The law covered by the opinion  expressed herein is limited to the Colorado
Business  Corporation  Act, as compiled in Prentice hall  Corporation  Statutes,
without regard to cases decided thereunder.

     This  opinion  letter is given only with  respect  to laws and  regulations
presently in effect. We assume no obligation to advise you of any changes in law
or regulation which may hereafter occur,  whether the same are  retroactively or
prospectively  applied, or to update or supplement this letter in any fashion to
reflect any facts or circumstances which hereafter come to our attention.

     Based upon, and subject to, the  foregoing,  we are of the opinion that the
Shares,  when  issued (i) upon proper  exercise  of the Options  and/or SARs and
payment of the consideration  required,  (ii) upon the grant of Stock Awards, or
(iii) upon a Deferral  Election,  pursuant to and in  accordance  with the Plan,
will be validly issued, fully paid and nonassessable.

     We  hereby  consent  to the  use  of  this  opinion  as an  exhibit  to the
Registration Statement and we further consent to the reference to our firm under
the caption  "Legal  Matters" in the prospectus as legal counsel who have passed
upon the legality of the securities offered thereby.

                                         Very truly yours,

                                         STRADLEY, RONON, STEVENS & YOUNG, LLP


                                         By:/s/ Joel E. Rappoport
                                            ------------------------------------
                                            Joel E. Rappoport, A Partner