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SUPPLEMENT TO PROSPECTUS DATED MARCH 25, 1997.
ROCKY FORD FINANCIAL, INC.
(Holding Company for Rocky Ford Federal Savings
and Loan Association)
This Prospectus Supplement supplements the Prospectus of
Rocky Ford Financial, Inc., dated March 25, 1997 (the
"Prospectus") which Prospectus is attached hereto. All terms
used herein have the meanings set forth in the Prospectus, unless
otherwise defined herein.
The discussion under the caption "Management of the
Association Certain Benefit Plans and Agreements is amended
and supplemented by the following paragraphs:
On pages 65-66 of the Prospectus, under the caption
"Management of the Association Certain Benefit Plans and
Agreements Employee Stock Ownership Plan," the ESOP is
discussed, and it is noted that each participant's vested
interest under the ESOP is determined according to the following
schedule "0% for less than three years of service with the
Company or the Association; 100% for three or more years of
service." The ESOP has been amended so that the vesting schedule
for the ESOP is now as follows: "0% for less than five years of
service with the Association or the Company; 100% for five or
more years of service."
On page 67 of the Prospectus, under the caption "Management
of the Association -- Certain Benefit Plans and Agreements --
Retirement Plan for Directors and Senior Officer," the Rocky Ford
Federal Savings and Loan Association Retirement Plan for
Directors and Senior Officer (the "Retirement Plan") is discussed
wherein it is stated that the effective date of the Retirement
Plan was November 13, 1996. The Retirement Plan covers each of
the Association's seven Directors and its only senior officer,
Chief Executive Officer Keith E. Waggoner. The discussion on
page 67 describes the formula for the benefits awarded under the
Retirement Plan and notes that benefits vested 50% on the
Effective Date and 50% on March 31, 1997. The Association (with
the consent of the beneficiaries of the Retirement Plan) has
amended the Retirement Plan so that the effective date has been
changed to March 31, 1997, with benefits vesting 100% on that
date. The financial statements in the Prospectus do not include
any accrued expense for the Retirement Plan, and the Association
will accrue an after-tax expense for the Retirement Plan of
$157,000 for the fiscal year ending September 30, 1997 (assuming
no change in the Association's tax rates), of which $143,000 will
be allocated to the quarter ended March 31, 1997, and $7,000 will
be allocated to each of the quarters ended June 30, 1997 and
September 30, 1997, respectively.
THE DATE OF THIS PROSPECTUS SUPPLEMENT IS APRIL 30, 1997
