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) February 24, 1998
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STATE BANCORP, INC.
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(Exact name of registrant as specified in its charter)
New York 0-14874 11-2846511
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(State or other jurisdiction of (Commission (I.R.S. Employer
incorporation or organization File Number) Identification No.)
699 Hillside Avenue, New Hyde Park, NY 11040-2512
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number including area code (516) 437-1000
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(Former name or former address, if changed since last report)
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ITEM 5 -- OTHER EVENTS
On February 24, 1998, the Registrant's Board of Directors
authorized a stock repurchase program under which the Registrant
may buy back up to 50,000 shares of its common stock. The
repurchases may be made from time to time as market conditions
permit, at prevailing prices on the open market. The program may
be discontinued at any time. State Bancorp, Inc. currently has
6.2 million shares of common stock outstanding.
SIGNATURE
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.
STATE BANCORP, INC.
DATE: MARCH 2, 1998
BY: s/Brian K. Finneran
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Brian K. Finneran, Secretary
