GREATER ATLANTIC SAVINGS BANK DEFERRED COMPENSATION PLAN ELECTION AGREEMENT I,__________________ , hereby elect to have (Participant's Name) _____ a portion of my compensation which is payable for the year ending December 31, 1998 , deferred under the...

                                                                  EXHIBIT 10.3B

                          GREATER ATLANTIC SAVINGS BANK
                           DEFERRED COMPENSATION PLAN
                               ELECTION AGREEMENT

         I,__________________ , hereby elect to have
           (Participant's Name)

         _____  a  portion  of my  compensation  which is  payable  for the year
                ending December 31, 1998 ,


deferred under the terms of this agreement and pursuant to the Greater  Atlantic
Savings Bank Deferred Compensation Plan (the "Plan").

PARTICIPANT COMPENSATION ELECTION
---------------------------------

         I elect  to  reduce  my  compensation  for 1998 by  (select  one of the
following):

         ________% (but not to exceed $______);

         ________  the lesser of 100% of my bonus compensation or $500,000.

         ________% of  proration,  if any,  of such  compensation  that  exceeds
                   $__________.

         BENEFICIARY ELECTION
         --------------------

         I  understand  that in the event of my death  any  amount to which I am
entitled  under this the Plan will be paid to the  beneficiary  designated by me
or, if none,  to my  surviving  spouse  or,  if none,  to my  estate.  I further
understand  that the last  beneficiary  designation  filed by during my lifetime
revokes all prior beneficiary  designations  previously filed by me for purposes
of the Plan. I hereby state (choose one):

         ___      that I do not wish to name a Beneficiary; or






         that _________________________________ (insert name) residing at

         ________________________________________________________________

         whose  Social  Security  number is  ___-__-____,  is  designated  as my
         primary beneficiary.

         _____________________________________ (insert name) residing at

         ________________________________________________________________


         whose  Social  Security  number  is  __-__-____,  is  designated  as my
         secondary beneficiary.

         If my  secondary  beneficiary(ies)  are not  living at the time of this

         distribution, then my contingent beneficiary shall be _________________

         residing at____________________________________________________________

         whose Social Security number is ___-__-____.



         ---------------------------             ---------------------------
         Date                                    Signature of Participant

                                                 ----------------------------
                                                 Social Security Number

         ----------------------------
         Witness