SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
-------------------
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of report (Date of earliest event reported):March 27, 1998
Saratoga Bancorp
(Exact name of registrant as specified in its charter)
California
(State or other jurisdiction of incorporation)
2-77519-LA 94-2817587
(Commission File Number) (IRS Employer Identification No.)
12000 Saratoga-Sunnyvale Road, Saratoga, CA 95070
(Address of principal executive office and ZIP code)
Registrant's telephone number, including area code: (408) 973-1111
None
(Former name or former address, if changed since last report)
PAGE 1 OF 3 PAGES
<PAGE> 2
Item 5 Other Events
On March 27, 1998, the Board of Directors of Saratoga Bancorp
declared a 3-for-2 stock split on the outstanding shares of
Common Stock of Saratoga Bancorp, to be payable on May 1, 1998 to
shareholders of record at the close of business on April 15, 1998.
Item 7 Financial Statements and Exhibits
(a) Not applicable
(b) Not applicable
(c) Exhibits
(21) Press Release issued on 4/8/98 describing stock split.
PAGE 2 OF 3 PAGES
<PAGE> 3
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.
SARATOGA BANCORP
(Registrant)
By: ____________________________
Mary Page Rourke
Senior Vice President
Treasurer (Principal
Financial and
Accounting Officer)
Date: April 8, 1998
PAGE 3 OF 3 PAGES
FOR IMMEDIATE RELEASE
SARATOGA BANCORP ANNOUNCES DIVIDEND PAYMENT
The Board of Directors of Saratoga Bancorp(OTC BB:SRTB), holding company
for Saratoga National Bank, declared a 3-for-2 stock split for shareholders
of record on April 15, 1998. The decision to declare the 3-for-2 stock split
reflects the continued growth and strong financial performance of Saratoga
National Bank.
Richard Mount, Chairman of Saratoga Bancorp, noted that "the stock split
will provide improved market liquidity and make the stock more accessible to a
larger spectrum of investors".
As a result of the 3-for-2 stock split, shareholders of record at the
close of business on April 15, 1998 will receive an additional share of
Saratoga Bancorp common stock on May 1, 1998 for each two shares owned. The
Company currently has approximately 1,095,275 shares outstanding.
Saratoga National Bank serves clients throughout Santa Clara County.
The bank has offices located in Saratoga, San Jose and Los Gatos with a strong
emphasis on relationship banking. Saratoga National recently celebrated 15
years of operation.
Richard L. Mount
12000 Saratoga-Sunnyvale Rd.
Saratoga, CA 95070
(408) 973-1111
April 8, 1998 Unaudited
