U.S. SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 4
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
[ ] Check box if no longer subject to Section 16.
Form 4 or Form 5 obligations may continue. See Instructions 1(b).
1. Name and Address of Reporting Person
O'Connor, Anne E.
7646 Linkside Drive
Manlius, NY USA 13104-2371
2. Issuer Name and Ticker or Trading Symbol
Skaneateles Bancorp, Inc. SKAN
3. IRS or Social Security Number of Reporting Person (Voluntary)
4. Statement for Month/Year
11/30/97
If Amendment, Date of Original (Month/Year)
Relationship of Reporting Person to Issuer (Check all applicable)
(x) Director ( ) 10% Owner ( ) Officer (give title below)
( ) Other (specify below)
<TABLE>
<CAPTION>
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Table I -- Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned |
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1. Title of Security |2. |3. |4.Securities Acquired (A) |5.Amount of |6.Dir |7.Nature of Indirect |
| Transaction | or Disposed of (D) | Securities |ect | Beneficial Ownership |
| | | | Beneficially |(D)or | |
| | | | | A/| | Owned at |Indir | |
| Date |Code|V| Amount | D | Price | End of Year |ect(I)| |
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<S> <C> <C> <C><C> <C> <C> <C> <C> <C>
Common Stock [1] |11/4/9|S | |1500 |D |20.33 | |I |By Spouse |
|7 | | | | | | | | |
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Common Stock [2] |11/11/|S | |150 |D |20.33 | |I |By Spouse |
|97 | | | | | | | | |
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Common Stock [3] |11/20/|S | |300 |D |18.67 | |I |By Spouse |
|97 | | | | | | | | |
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Common Stock [4] |11/25/|S | |3000 |D |18.33 | |I |By Spouse |
|97 | | | | | | | | |
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Common Stock [5] |11/25/|S | |750 |D |18.50 | |I |By Spouse |
|97 | | | | | | | | |
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Common Stock [6] |11/26/|S | |3000 |D |18.33 |100050 |I |By Spouse |
|97 | | | | | | | | |
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<CAPTION>
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Table II -- Derivative Securitites Acquired, Disposed of, or Beneficially Owned |
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1.Title of Derivative |2.Con- |3. |4. |5.Number of De |6.Date Exer|7.Title and Amount |8.Price|9.Number |10.|11.Nature of|
Security |version |Transaction | rivative Secu |cisable and| of Underlying |of Deri|of Deriva |Dir|Indirect |
|or Exer | | | rities Acqui |Expiration | Securities |vative |tive |ect|Beneficial |
|cise | | | red(A) or Dis |Date(Month/| |Secu |Securities |(D)|Ownership |
|Price of| | | posed of(D) |Day/Year) | |rity |Benefi |or | |
|Deriva- | | | |Date |Expir| | |ficially |Ind| |
|tive | | | | A/|Exer-|ation| Title and Number | |Owned at |ire| |
|Secu- | | | | | D |cisa-|Date | of Shares | |End of |ct | |
|rity |Date |Code|V| Amount | |ble | | | |Year |(I)| |
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<S> <C> <C> <C> <C><C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Warrants [7] |12.83 | | | | | | [8] |4/1/0|Common Stock|1500 | [9] |1500 | | |
| | | | | | | |7 | | | | | | |
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</TABLE>
Explanation of Responses:
1. All information has been adjusted to reflect a 3 for 2 stock split effected
on November 28, 1997.
2. All information has been adjusted to reflect a 3 for 2 stock split effected
on November 28, 1997.
3. All information has been adjusted to reflect a 3 for 2 stock split effected
on November 28, 1997.
4. All information has been adjusted to reflect a 3 for 2 stock split effected
on November 28, 1997.
5. All information has been adjusted to reflect a 3 for 2 stock split effected
on November 28, 1997.
6. All information has been adjusted to reflect a 3 for 2 stock split effected
on November 28, 1997.
7. All information has been adjusted to reflect a 3 for 2 stock split effected
on November 28, 1997.
8. Warrants become vested over a three-year period in increments of one-third
each on each anniversary of the grant date.
9. Granted under the 1995 Non-Employee Directors Warrant Plan
Anne E. O'Connor
SIGNATURE OF REPORTING PERSON
Anne E. O'Connor
DATE
12/10/97
