Exhibit 4

JOINT FILING AGREEMENT

In accordance with Rule 13d-1(k) under the Securities Exchange Act of 1934, as amended, each of the persons named below (the “Shareholders”) agrees to the joint filing of a Schedule 13D (including amendments thereto) with respect to the common shares, $1.00 par value per share, of Vail Banks, Inc., a Colorado corporation, and further agrees that this joint filing agreement be included as an exhibit to such filings provided that, as contemplated by Section 13d-1(k)(1)(ii), no person shall be responsible for the completeness or accuracy of the information concerning the other persons making the filing, unless such person knows or has reason to believe that such information is inaccurate.

Shareholders:

E. B. Chester

Kay H. Chester

Dennis R. Devor

Lisa M. Dillon

George N. Gillett

Dan E. Godec

S. David Gorsuch

Jack G. Haselbush

Garner F. Hill II

Gary S. Judd

Robert L. Knous

Byron A. Rose

Donald L. Vanderhoof

James G. Flaum

Kent Myers

Kathleen L. Devor

Ronna J. Flaum

Eddi L. Vanderhoof

Dated as of June 6, 2006.

Shareholders’ Attorney-in-Fact

/s/ Gary S. Judd

By: Gary S. Judd

VAIL BANKS INC SC 13D