EXHIBIT 21 SUBSIDIARIES OF THE SMALL BUSINESS ISSUER

                                       
                                   EXHIBIT 21


                   SUBSIDIARIES OF THE SMALL BUSINESS ISSUER



                                                        
                             State or Other Jurisdiction of       Names Under Which
    Name of Subsidiary        Incorporation or Organization   Subsidiary Does Business
--------------------------   ------------------------------   ------------------------

First Savings Bank, F.S.B.   Federal Charter - Savings and          "First Bank"
                                   Loan Association

First Equity Development              New Mexico                         N/A
     Corporation