PULSE BANCORP INC
10-C, 1996-07-12
SAVINGS INSTITUTIONS, NOT FEDERALLY CHARTERED
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                      SECURITIES AND EXCHANGE COMMISSION
                            Washington, D.C.  20549

                                   FORM 10-C

               REPORT BY ISSUER OF SECURITIES QUOTED ON NASDAQ
                         INTERDEALDER QUOTATION SYSTEM

                 Filed pursuant to Section 13 or 15(d) of the
               Securities Exchange Act of 1934 and Rule 13a-17
                                   or 15d-17

                              Pulse Bancorp, Inc.
                (Exact name of issuer as specified in charter)

                6 Jackson Street, South River, New Jersey 08882
                   (Address of principal executive offices)

Issuer's telephone number, including area code     (908) 257-2400


                  I.  CHANGE IN NUMBER OF SHARES OUTSTANDING

Indicate any change (increase or decrease) of 5% of more in the number of shares
outstanding:

1.    Title of security                             Common Stock $1.00 per value

2.    Number of shares outstanding before the change                   3,886,458

3.    Number of shares outstanding after the change                    3,049,378

4.    Effective date of change                                     June 21, 1996

5.    Method of change:                                      Issuer Tender Offer

   Specify method (such as merger, acquisition, exchange, distribution, stock
         split, reverse split, acquisition of stock for treasury, etc.)


      Give brief description of transaction: Company offered to purchase up to 1
      million shares at a price not in excess of $17.75 nor less than $16.00 per
      share pursuant to an issuer tender offer.

                         II. CHANGE IN NAME OF ISSUER

      1.    Name prior to change

      2.    Name after change

      3.    Effective date of charter amendment changing name

      4.    Date of shareholder approval of change, if required


Date    July 11, 1996                      /s/  George T. Hornyak, President
                                           (Officer's signature and title)



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