September 2007

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

HIGH COUNTRY BANCORP, INC. ANNOUNCES ANNUAL FINANCIAL RESULTS

The Board of Directors ("the Board") of High Country Bancorp, Inc. (OTC: HCBC. PK)("the Company") announced the Company's annual earnings for the fiscal year ended June 30, 2007. For the year, consolidated net income was $1,284,000, or $1.49 per share. This compares to $923,000, or $1.08 per share, in the previous year. Total consolidated assets increased by approximately $2.3 million to $202.1 million at June 30, 2007 from $199.9 million at June 30, 2006.

The Company's net interest income before provision for loan losses rose 1.6% during the year ending June 30, 2007, compared to the prior year. The recorded provision for loan losses increased by $662,000, resulting primarily from the Company's revision of its allowance for loan loss methodology during the current year to refine and address assessment of risk in the portfolio, particularly in consideration of the uncertain economic environment. Noninterest income increased 90.1% during the current year, compared to the prior year. Excluding the recorded net gain resulting from the sale of the Company's Leadville, Colorado branch, noninterest income increased 10.5% during the current year compared to the prior year. Noninterest expense increased 3.2% during the current year compared to the prior year.

"We remain focused on managing asset quality in a challenging economy and will continue to stress the importance of maintaining strong capital levels. We continue to be cautiously optimistic about the growth potential of our Canon City branch" said Larry Smith, Chairman of the Board and President of the Company. "The sale of the Leadville branch will enable the Company to focus on growth in the Canon City market, which offers potential for diverse growth in this developing market."

High Country Bancorp, Inc. is the holding company for High Country Bank, which conducts business through its main office in Salida, Colorado, and branch offices in Salida, Buena Vista and Canon City, Colorado. At June 30, 2007, the Company had 860,230 shares of common stock issued and outstanding.

This report contains certain forward-looking statements 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 anticipates 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 no undertake any obligation to publicly revise these forward-looking statements to reflect events or circumstances that arise after the date of such statements.