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 29, 2000
-----------------
STATE BANCORP, INC.
--------------------------------------------------------------------------
(Exact name of registrant as specified in its charter)
New York 0-14874 11-2846511
--------------------------------------------------------------------------
(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
--------------------------------------------------------------------------
(Address of principal executive offices) (Zip Code)
Registrant's telephone number including area code (516) 437-1000
----------------------
--------------------------------------------------------------------------
(Former name or former address, if changed since last report)
<PAGE>
ITEM 5 -- OTHER EVENTS
On February 29, 2000, the Registrant's Board of Directors authorized an increase
in its stock repurchase program under which the Registrant may now buy up
to 500,000 shares of its common stock. This amount represents approximately
seven percent of the Company's current common shares outstanding. The Board had
previously authorized the repurchase of up to 200,000 shares at its November
1998 meeting. Approximately 62,000 shares have been repurchased to date.
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 7.0 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 6, 2000
BY: s/Brian K. Finneran
-------------------------
Brian K. Finneran, Secretary
