SUPPLEMENT TO THE STATE BANCORP., INC. DIVIDEND
REINVESTMENT AND STOCK PURCHASE PLAN PROSPECTUS
DATED JUNE 7, 1993
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On October 24, 1995, the Board of Directors of State Bancorp,
Inc. (the "Company") approved certain modifications to the State
Bancorp, Inc. Dividend Reinvestment and Stock Purchase Plan (the
"Plan"). Those modifications are reflected in the supplement to
the Company's June 7, 1993 Prospectus relating to such Plan as
summarized below:
1) The following replaces similar language found on page 8 of
the Prospectus.
14. How will the price of shares be determined?
The purchase price of common shares purchased in the
open market or in negotiated transactions will be the price
paid by the Plan Administrator for such shares (not
including brokerage fees or commissions). The Company will
bear the cost of all brokerage fees and commissions on
purchases under the Plan. The price of common shares
purchased from the Company will be determined in the sole
discretion of the Company, but shall not be less than
ninety-five (95%) percent of the closing bid price for
shares of Common Stock as quoted on the over-the-counter
market through NASDAQ on the last business day of the
calendar quarter immediately preceding the purchase date.
The purchase price per share allocated to each participant
of common stock purchased on the open market shall normally
be the weighted average of all Common Stock so purchased
under the Plan each quarter.
2) On page 9 of the Prospectus, the topic heading "Issuance of
Share Certificates" has been changed to "Certificates for
Shares."
3) On page 9 of the Prospectus, a new item 18. has been added,
reading as follows:
18. How may certificates be deposited with Plan shares?
A Participant may deposit with the Plan Administrator
certificates for shares of the Company's Common shares
registered in his name for credit under the Plan. Because
the Participant bears the risk of loss in sending
(1)
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certificates to the Plan Administrator, certificates should
be sent by registered mail, return receipt requested, and
properly insured to the address specified in Item 3. If
certificates are later issued either upon request of the
Participant or upon termination of participation, new,
differently numbered certificates will be issued.
4) Items 18. through 26., found on pages 9 through 11 of the
Prospectus, have been renumbered as 19. through 27.
This supplement has been filed with the Securities and Exchange
Commission in accordance with Section 424(b)(3) of the Act and is
dated December 8, 1995.
(2)
