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<TITLE>SMITHTOWN BANCORP, INC.</TITLE>
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<P align="center" style="font-size: 10pt">As filed with the
Securities and Exchange Commission on June 1, 2005.



<div align="right" style="font-size: 10pt">Registration No.&nbsp;333-________</div>


<P align="center" style="font-size: 14pt"><B>SECURITIES AND EXCHANGE COMMISSION</B>

<DIV align="center" style="font-size: 12pt"><B>Washington, D.C. 20549</b>
</DIV>

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<div align="center" style="font-size: 18pt"><B>FORM S-8</B></div>


<div align="center" style="font-size: 10pt">REGISTRATION STATEMENT UNDER<BR>
THE SECURITIES ACT OF 1933</div>



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<div align="center" style="font-size: 24pt">SMITHTOWN BANCORP, INC.</div>
<div align="center" style="font-size: 10pt">(Exact name of registrant as specified in its charter)</div>


<DIV align="center">
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    <TD width="47%">&nbsp;</TD>
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    <TD align="center" valign="top">NEW YORK<BR>
(State or other jurisdiction of incorporation<BR>
or organization)
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">11-2695037<BR>
(I.R.S. Employer<BR>
Identification number)</TD>
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<P align="center" style="font-size: 10pt">100 MOTOR PARKWAY, SUITE 160, HAUPPAUGE, NEW YORK 11788<BR>
(Address, including zip code and telephone number, including<BR>
area code of registrant&#146;s principal executive offices)



<P align="center" style="font-size: 10pt">SMITHTOWN BANCORP RESTRICTED STOCK PLAN<BR>
(Full title of the plan)



<P align="center" style="font-size: 10pt">BRADLEY E. ROCK<BR>
CHAIRMAN, PRESIDENT AND CHIEF EXECUTIVE OFFICER<BR>
SMITHTOWN BANCORP, INC.<BR>
100 MOTOR PARKWAY, SUITE 160<BR>
HAUPPAUGE, NEW YORK 11788<BR>
(631)&nbsp;360-9304



<P align="center" style="font-size: 10pt">Copies of communications to:



<P align="center" style="font-size: 10pt">Jeffrey C. Gerrish, Esq.<BR>
GERRISH &#038; MCCREARY, P.C.<BR>
700 Colonial Road &#151; Suite&nbsp;200<BR>
Memphis, Tennessee 38117<BR>
(901)&nbsp;767-0900<BR>
(Name, address, including zip code and telephone number, including area code,<BR>
of agent for service)


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    <TD width="17%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="17%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="17%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="17%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="17%">&nbsp;</TD>
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    <TD colspan="9" valign="top" align="center"><BR>CALCULATION OF REGISTRATION FEE</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top">Title of Securities to be<BR>
Registered
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">Amount to be<BR>
Registered<SUP style="font-size: 85%; vertical-align: text-top">1</SUP>
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">Maximum Offering Price<BR>
Per Share<SUP style="font-size: 85%; vertical-align: text-top">2</SUP>
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">Proposed Maximum<BR>
Aggregate Offering<BR>
Price<SUP style="font-size: 85%; vertical-align: text-top">2</SUP>
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">Amount of<BR>
Registration Fee</TD>
</TR>
<TR style="font-size: 1px">
    <TD colspan="9" valign="top" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top">Common Stock,<BR>
$.01 par value
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">100,000 shares
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">No Price
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">$2,732,000
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">$321.56</TD>
</TR>
<TR style="font-size: 1px">
    <TD colspan="9" valign="top" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
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<P align="left" style="font-size: 10pt"><HR size="1" noshade width="12%" align="LEFT" color="#000000">


<div align="left" style="font-size: 10pt"><SUP style="font-size: 85%; vertical-align: text-top">1</SUP> This Registration Statement covers, pursuant
to Rule&nbsp;416(a), any increases in the number of shares offered under the Plan to
prevent dilution resulting from stock splits, stock dividends or similar
transactions.</div>


<P align="left" style="font-size: 10pt"><SUP style="font-size: 85%; vertical-align: text-top">2</SUP> Estimated solely for the purpose of
calculating the registration fee pursuant to Rule 457(c) and (h), based upon
the average of the high and low prices reported on May&nbsp;27, 2005 as reported on
the Nasdaq Stock Market.



<P align="center" style="font-size: 10pt">&nbsp;
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<!-- link1 "PART I" -->

<P align="center" style="font-size: 10pt">PART I


<!-- link1 "INFORMATION REQUIRED IN THE SECTION 10(a) PROSPECTUS" -->

<P align="center" style="font-size: 10pt">INFORMATION REQUIRED IN THE SECTION 10(a) PROSPECTUS


<P align="left" style="font-size: 10pt">The documents containing the information required by PART I of this Registration Statement on Form
S-8 (the &#147;Registration Statement&#148;) will be sent or given to Plan participants as specified by Rule
428(b)(1) under the Securities Act of 1933, as amended. Such documents and the documents
incorporated by reference herein pursuant to Item&nbsp;3 of PART II hereof, taken together, constitute a
prospectus that meets the requirements of Section 10(a) of the Securities Act.


<!-- link1 "PART II" -->

<P align="center" style="font-size: 10pt">PART II


<!-- link1 "INFORMATION REQUIRED IN THE REGISTRATION STATEMENT" -->

<P align="center" style="font-size: 10pt">INFORMATION REQUIRED IN THE REGISTRATION STATEMENT


<!-- link2 "ITEM 3. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;INCORPORATION OF DOCUMENTS BY REFERENCE" -->

<P align="left" style="font-size: 10pt">ITEM 3. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;INCORPORATION OF DOCUMENTS BY REFERENCE


<P align="left" style="font-size: 10pt">The following documents have been filed with the Securities and Exchange Commission by Smithtown
Bancorp, Inc. (the &#147;Company&#148;) and are incorporated herein by reference and made a part hereof:



<P>
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<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="left">1.&nbsp;&nbsp;</TD>
    <TD>The Company&#146;s Annual Report on Form 10-K for the year ended December&nbsp;31, 2004,
provided that any information included or incorporated by reference in response to
Items 402(a)(8), (i), (k)&nbsp;or (l)&nbsp;of Regulation&nbsp;S-K of the Securities and Exchange
Commission shall not be deemed to be incorporated herein and is not a part of the
Registration Statement.</TD>
</TR>

<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="left">2.&nbsp;&nbsp;</TD>
    <TD>Amended Form 10-K/A filed in April&nbsp;2005 for the year ended December&nbsp;31, 2004.</TD>
</TR>

<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="left">3.&nbsp;&nbsp;</TD>
    <TD>All reports filed by the Company pursuant to Section 13(a) or 15(d) of the
Securities Exchange Act of 1934 since the end of the fiscal year covered by the
financial statements in the Annual Report on Form 10-K referred to in paragraph 1
above.</TD>
</TR>

<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="left">4.&nbsp;&nbsp;</TD>
    <TD>A description of the class of securities contained in the registration
statement filed under Section&nbsp;12 of the Securities Exchange Act of 1934, including any
amendment or report that updated such description.</TD>
</TR>

</TABLE>

<P align="left" style="font-size: 10pt">All documents filed by the Company pursuant to Sections&nbsp;13(a), 13(c), 14 and 15(d) of the
Securities Exchange Act of 1934 subsequent to the date hereof and prior to the filing of a
post-effective amendment which indicates that all securities offered hereby have been sold or which
deregisters all securities then remaining unsold, shall be deemed to be incorporated by reference
herein and to be part hereof from the date of the filing of such documents. Any statement
contained in a document incorporated by reference herein and filed prior to the filing hereof shall
be deemed to be modified or superseded for purposes of this Registration Statement to the extent

<P align="center" style="font-size: 10pt">2
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<P align="left" style="font-size: 10pt">that a statement contained herein modifies or supersedes such statement, and any statement
contained herein or in any other document incorporated by reference herein shall be deemed to
be modified or superseded for purposes of this Registration Statement to the extent that a
statement contained in any other subsequently filed document which also is incorporated by
reference herein modifies or supersedes such statement. Any such statement so modified or
superseded shall not be deemed, except as so modified or superseded, to constitute a part of this
Registration Statement.


<!-- link2 "ITEM 4. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;DESCRIPTION OF SECURITIES" -->

<P align="left" style="font-size: 10pt">ITEM 4. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;DESCRIPTION OF SECURITIES


<P align="left" style="font-size: 10pt">Not applicable.


<!-- link2 "ITEM 5. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;INTERESTS OF NAMED EXPERTS AND COUNSEL" -->

<P align="left" style="font-size: 10pt">ITEM 5. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;INTERESTS OF NAMED EXPERTS AND COUNSEL


<P align="left" style="font-size: 10pt">The validity of the Common Stock to be offered hereby will be passed upon for the Company by
Gerrish &#038; McCreary, P.C. Attorneys who are members or who are employed by Gerrish &#038; McCreary,
P.C., who have provided advice with respect to this matter do not own any shares of the Common
Stock of the Company.


<!-- link2 "ITEM 6. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;INDEMNIFICATION OF DIRECTORS AND OFFICERS" -->

<P align="left" style="font-size: 10pt">ITEM 6. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;INDEMNIFICATION OF DIRECTORS AND OFFICERS


<P align="left" style="font-size: 10pt">The New York Business Corporation Law authorizes indemnification of directors and officers under
certain circumstances. Under the Company Bylaws, the Company provides for the following
indemnification of directors and officers: Any person made or threatened to be made a party to any
action or proceeding, whether civil or criminal, by reason of the fact that he, his testator or
intestate, is or was a director or officer of the corporation or served any other corporation,
partnership, joint venture, trust, employee benefit plan or other enterprise in any capacity at the
request of the corporation, shall be indemnified by the corporation against judgments, fines,
amounts paid in settlement and reasonable expenses, including attorney&#146;s fees actually and
necessarily incurred as a result of such action or proceeding, or any appeal therein, to the
fullest extent permitted under Article&nbsp;7 of the New York Business Corporation Law. The Board of
Directors may also, in its discretion, cause the corporation to maintain insurance for the
indemnification of directors and officers as permitted under Section&nbsp;727 of the New York Business
Corporation Law. The Company has purchased an officers and directors liability insurance policy
which provides for insurance of directors and officers of the Company against certain liabilities
they may incur in their capacities as such.


<!-- link2 "ITEM 7. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;EXEMPTION FROM REGISTRATION CLAIMED" -->

<P align="left" style="font-size: 10pt">ITEM 7. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;EXEMPTION FROM REGISTRATION CLAIMED


<P align="left" style="font-size: 10pt">Not applicable.


<!-- link2 "ITEM 8. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;EXHIBITS" -->

<P align="left" style="font-size: 10pt">ITEM 8. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;EXHIBITS


<P align="left" style="font-size: 10pt">See the Exhibit&nbsp;Index which is incorporated herein by reference.



<P align="center" style="font-size: 10pt">3
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<!-- link2 "ITEM 9. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;UNDERTAKINGS" -->

<P align="left" style="font-size: 10pt">ITEM 9. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;UNDERTAKINGS



<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="left">(a)&nbsp;&nbsp;</TD>
    <TD>The Company hereby undertakes:</TD>
</TR>

</TABLE>


<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="left">(1)&nbsp;&nbsp;</TD>
    <TD>To file, during any period in which offers or sales are being
made, a post-effective amendment to this Registration Statement:</TD>
</TR>

</TABLE>


<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="9%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="left">(i)&nbsp;&nbsp;</TD>
    <TD>to include any prospectus required by Section
10(a)(3) of the Securities Act of 1933;</TD>
</TR>

<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="9%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="left">(ii)&nbsp;&nbsp;</TD>
    <TD>to reflect in the prospectus any facts or
events arising after the effective date of this Registration Statement
(or the most recent post-effective amendment thereof) which,
individually or in the aggregate, represent a fundamental change in the
information set forth in the Registration Statement;</TD>
</TR>

<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="9%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="left">(iii)&nbsp;&nbsp;</TD>
    <TD>to include any material information with
respect to the plan of distribution not previously disclosed in this
Registration Statement or any material change to such information in
this Registration Statement;</TD>
</TR>

<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="9%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="left">&nbsp;&nbsp;&nbsp;</TD>
    <TD>Provided, however, that paragraph (a)(1)(i) and (a)(1)(ii) shall not
apply if the Registration Statement is on Form S-3, Form S-8 or Form
F-3 and the information required to be included in a post-effective
amendment by those paragraphs is contained in periodic reports filed
by the Company pursuant to Section&nbsp;13 or Section 15(d) of the
Securities Exchange Act of 1934 that are incorporated by reference in
this Registration Statement.</TD>
</TR>

</TABLE>


<P>
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<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="left">(2)&nbsp;&nbsp;</TD>
    <TD>That, for the purpose of determining any liability under the
Securities Act of 1933, each such post-effective amendment shall be deemed to
be a new Registration Statement relating to the securities offered therein and
the offering of such securities at that time shall be deemed to be the initial
bona fide offering thereof.</TD>
</TR>

<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="left">(3)&nbsp;&nbsp;</TD>
    <TD>To remove from registration by means of a post-effective
amendment any of the securities being registered which remain unsold at the
termination of the offering.</TD>
</TR>

</TABLE>


<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="left">(b)&nbsp;&nbsp;</TD>
    <TD>The undersigned Company hereby undertakes that, for purposes of determining any
liability under the Securities Act of 1933, each filing of the Company&#146;s Annual Report
pursuant to Section 13(a) or Section 15(d) of the Securities Exchange Act of 1934 (and,
where applicable, each filing of an employee benefit plan&#146;s annual report pursuant to
Section 15(d) of the Securities Exchange Act of 1934) that is incorporated by reference
in this Registration Statement shall be deemed to be a new registration statement
relating to the securities offered</TD>
</TR>

</TABLE>

<P align="center" style="font-size: 10pt">4
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<P><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">



</TABLE>


<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="left">&nbsp;&nbsp;&nbsp;</TD>
    <TD>therein, and the offering of such securities at that time shall be deemed to be the
initial bona fide offering thereof.</TD>
</TR>

<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="left">(c)&nbsp;&nbsp;</TD>
    <TD>Insofar as indemnification for liabilities arising under the Securities Act of
1933 may be permitted to directors, officers and controlling persons of the Company
pursuant to the foregoing provisions or otherwise, the Company has been advised that,
in the opinion of the Securities and Exchange Commission, such indemnification is
against public policy as expressed in the act and is, therefore, unenforceable. In the
event that a claim for indemnification against such liabilities (other than the payment
by the Company of expenses incurred or paid by a director, officer or controlling
persons of the Company in the successful defense of any action, suit or proceeding) is
asserted by such director, officer or controlling persons in connection with the
securities being registered, the Company will, unless in the opinion of its counsel the
matter has been settled by controlling precedent, submit to a court of appropriate
jurisdiction the question whether such indemnification by it is against public policy
as expressed in the Act and will be governed by the final adjudication of such issue.</TD>
</TR>

</TABLE>

<!-- link2 "SIGNATURES" -->

<P align="left" style="font-size: 10pt">SIGNATURES



<P align="left" style="font-size: 10pt">Pursuant to the requirements of the Securities Act of 1933, the Company certifies that it has
reasonable grounds to believe that it meets all the requirements for filing on Form S-8 and has
duly caused this Registration Statement to be signed on its behalf by the undersigned, thereunto
duly authorized, in the City of Hauppauge, State of New York, on June&nbsp;1, 2005.

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    <TD width="50%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="30%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
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<TR valign="bottom">
    <TD align="center" nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" valign="top" align="left">SMITHTOWN BANCORP, INC.<BR>
(Registrant)</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom" style="padding-top: 1em">
    <TD align="center" nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
By:
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">/s/ Bradley E. Rock
<HR size="1" noshade color="#000000">
Bradley E. Rock<BR>
Chairman, President and Chief Executive Officer
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
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</TABLE>
</DIV>


<P align="center" style="font-size: 10pt">5
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">

<P align="left" style="font-size: 10pt">Pursuant to the requirements of the Securities Act of 1933, this Registration Statement has been
signed by the following persons in the capacities indicated, on May&nbsp;31, 2005.


<DIV align="center">
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<TR valign="bottom">
    <TD width="40%">&nbsp;</TD>
    <TD width="10%">&nbsp;</TD>
    <TD width="50%">&nbsp;</TD>
</TR>
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<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><B>Signature</B>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><B>Title</B></TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">/s/ Bradley E. Rock
<HR size="1" noshade color="#000000">
Bradley E. Rock
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Chairman, President and Chief Executive Officer<br>
(Principal Executive Officer)</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">/s/ Anita M. Florek
<HR size="1" noshade color="#000000">
Anita M. Florek
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Executive Vice President and Treasurer<br>
(Principal Financial Officer)</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="5%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="30%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="45%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Bradley E. Rock
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Director</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Patrick A. Given
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Director</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Sanford C. Scheman
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Director</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Patricia C. Delaney
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Director</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Robert W. Scherdel
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Director</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Hyukmun Kwon
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Director</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Augusta Kemper
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Director</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Barry M. Seigerman
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Director</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Manny Schwartz
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Director</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

<P align="left" style="font-size: 10pt">Bradley E. Rock, by signing his name hereto, does hereby sign this document in his capacity as a
director and pursuant to powers of attorney duly executed by the persons named, filed with the
Securities and Exchange Commission as an exhibit to this document, on behalf of such persons, all
in the capacities and on the date stated, such persons including a majority of the directors of the
Registrant.


<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="55%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="30%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD align="center" nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
/s/ Bradley E. Rock
<HR size="1" noshade color="#000000">
Bradley E. Rock<br>
Attorney-in-Fact
</TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="bottom">&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<P align="center" style="font-size: 10pt">6
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">


<P align="center" style="font-size: 10pt">EXHIBIT INDEX<BR>
TO REGISTRATION STATEMENT ON FORM S-8



<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="left">5.1&nbsp;&nbsp;</TD>
    <TD>Opinion of Gerrish &#038; McCreary, P.C. as to the legality of the securities being
registered (including consent of counsel).*</TD>
</TR>

<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="left">23.1&nbsp;&nbsp;</TD>
    <TD>Consent of Crowe Chizek and Company, LLC.*</TD>
</TR>

<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="left">24.1&nbsp;&nbsp;</TD>
    <TD>Power of Attorney pursuant to which certain directors have signed this Form S-8
Registration Statement.*</TD>
</TR>

<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="left">99.1&nbsp;&nbsp;</TD>
    <TD>Smithtown Bancorp Restricted Stock Plan.*</TD>
</TR>

</TABLE>



<P>
<HR size="1" width="18%" align="left" noshade color="#000000">

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top">
    <TD width="1%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="98%">*&nbsp;Filed herewith.</TD>
</TR>

</TABLE>




<P align="center" style="font-size: 10pt">&nbsp;
</DIV>


</BODY>
</HTML>
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{"company-data": {"conformed-name": "SMITHTOWN BANCORP INC", "cik": "0000747345", "assigned-sic": "6022", "irs-number": "112695037", "state-of-incorporation": "NY", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "S-8", "act": "33", "file-number": "333-125402", "film-number": "05870715"}, "business-address": {"street1": "100 MOTOR PARKWAY", "street2": "SUITE 160", "city": "HAUPPAUGE", "state": "NY", "zip": "11788", "phone": "631-360-9300"}, "mail-address": {"street1": "100 MOTOR PARKWAY", "street2": "SUITE 160", "city": "HAUPPAUGE", "state": "NY", "zip": "11788"}}
SMITHTOWN BANCORP, INC.
As filed with the
Securities and Exchange Commission on June 1, 2005.
Registration No. 333-________
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM S-8
REGISTRATION STATEMENT UNDER
THE SECURITIES ACT OF 1933
SMITHTOWN BANCORP, INC.
(Exact name of registrant as specified in its charter)
NEW YORK
(State or other jurisdiction of incorporation
or organization)
11-2695037
(I.R.S. Employer
Identification number)
100 MOTOR PARKWAY, SUITE 160, HAUPPAUGE, NEW YORK 11788
(Address, including zip code and telephone number, including
area code of registrant's principal executive offices)
SMITHTOWN BANCORP RESTRICTED STOCK PLAN
(Full title of the plan)
BRADLEY E. ROCK
CHAIRMAN, PRESIDENT AND CHIEF EXECUTIVE OFFICER
SMITHTOWN BANCORP, INC.
100 MOTOR PARKWAY, SUITE 160
HAUPPAUGE, NEW YORK 11788
(631) 360-9304
Copies of communications to:
Jeffrey C. Gerrish, Esq.
GERRISH & MCCREARY, P.C.
700 Colonial Road — Suite 200
Memphis, Tennessee 38117
(901) 767-0900
(Name, address, including zip code and telephone number, including area code,
of agent for service)
CALCULATION OF REGISTRATION FEE
Title of Securities to be
Registered
Amount to be
Registered
1
Maximum Offering Price
Per Share
2
Proposed Maximum
Aggregate Offering
Price
2
Amount of
Registration Fee
Common Stock,
$.01 par value
100,000 shares
No Price
$2,732,000
$321.56
1
This Registration Statement covers, pursuant
to Rule 416(a), any increases in the number of shares offered under the Plan to
prevent dilution resulting from stock splits, stock dividends or similar
transactions.
2
Estimated solely for the purpose of
calculating the registration fee pursuant to Rule 457(c) and (h), based upon
the average of the high and low prices reported on May 27, 2005 as reported on
the Nasdaq Stock Market.
PART I
INFORMATION REQUIRED IN THE SECTION 10(a) PROSPECTUS
The documents containing the information required by PART I of this Registration Statement on Form
S-8 (the "Registration Statement") will be sent or given to Plan participants as specified by Rule
428(b)(1) under the Securities Act of 1933, as amended. Such documents and the documents
incorporated by reference herein pursuant to Item 3 of PART II hereof, taken together, constitute a
prospectus that meets the requirements of Section 10(a) of the Securities Act.
PART II
INFORMATION REQUIRED IN THE REGISTRATION STATEMENT
ITEM 3.      INCORPORATION OF DOCUMENTS BY REFERENCE
The following documents have been filed with the Securities and Exchange Commission by Smithtown
Bancorp, Inc. (the "Company") and are incorporated herein by reference and made a part hereof:
1.
The Company's Annual Report on Form 10-K for the year ended December 31, 2004,
provided that any information included or incorporated by reference in response to
Items 402(a)(8), (i), (k) or (l) of Regulation S-K of the Securities and Exchange
Commission shall not be deemed to be incorporated herein and is not a part of the
Registration Statement.
2.
Amended Form 10-K/A filed in April 2005 for the year ended December 31, 2004.
3.
All reports filed by the Company pursuant to Section 13(a) or 15(d) of the
Securities Exchange Act of 1934 since the end of the fiscal year covered by the
financial statements in the Annual Report on Form 10-K referred to in paragraph 1
above.
4.
A description of the class of securities contained in the registration
statement filed under Section 12 of the Securities Exchange Act of 1934, including any
amendment or report that updated such description.
All documents filed by the Company pursuant to Sections 13(a), 13(c), 14 and 15(d) of the
Securities Exchange Act of 1934 subsequent to the date hereof and prior to the filing of a
post-effective amendment which indicates that all securities offered hereby have been sold or which
deregisters all securities then remaining unsold, shall be deemed to be incorporated by reference
herein and to be part hereof from the date of the filing of such documents. Any statement
contained in a document incorporated by reference herein and filed prior to the filing hereof shall
be deemed to be modified or superseded for purposes of this Registration Statement to the extent
2
that a statement contained herein modifies or supersedes such statement, and any statement
contained herein or in any other document incorporated by reference herein shall be deemed to
be modified or superseded for purposes of this Registration Statement to the extent that a
statement contained in any other subsequently filed document which also is incorporated by
reference herein modifies or supersedes such statement. Any such statement so modified or
superseded shall not be deemed, except as so modified or superseded, to constitute a part of this
Registration Statement.
ITEM 4.      DESCRIPTION OF SECURITIES
Not applicable.
ITEM 5.      INTERESTS OF NAMED EXPERTS AND COUNSEL
The validity of the Common Stock to be offered hereby will be passed upon for the Company by
Gerrish & McCreary, P.C. Attorneys who are members or who are employed by Gerrish & McCreary,
P.C., who have provided advice with respect to this matter do not own any shares of the Common
Stock of the Company.
ITEM 6.      INDEMNIFICATION OF DIRECTORS AND OFFICERS
The New York Business Corporation Law authorizes indemnification of directors and officers under
certain circumstances. Under the Company Bylaws, the Company provides for the following
indemnification of directors and officers: Any person made or threatened to be made a party to any
action or proceeding, whether civil or criminal, by reason of the fact that he, his testator or
intestate, is or was a director or officer of the corporation or served any other corporation,
partnership, joint venture, trust, employee benefit plan or other enterprise in any capacity at the
request of the corporation, shall be indemnified by the corporation against judgments, fines,
amounts paid in settlement and reasonable expenses, including attorney's fees actually and
necessarily incurred as a result of such action or proceeding, or any appeal therein, to the
fullest extent permitted under Article 7 of the New York Business Corporation Law. The Board of
Directors may also, in its discretion, cause the corporation to maintain insurance for the
indemnification of directors and officers as permitted under Section 727 of the New York Business
Corporation Law. The Company has purchased an officers and directors liability insurance policy
which provides for insurance of directors and officers of the Company against certain liabilities
they may incur in their capacities as such.
ITEM 7.      EXEMPTION FROM REGISTRATION CLAIMED
Not applicable.
ITEM 8.      EXHIBITS
See the Exhibit Index which is incorporated herein by reference.
3
ITEM 9.      UNDERTAKINGS
(a)
The Company hereby undertakes:
(1)
To file, during any period in which offers or sales are being
made, a post-effective amendment to this Registration Statement:
(i)
to include any prospectus required by Section
10(a)(3) of the Securities Act of 1933;
(ii)
to reflect in the prospectus any facts or
events arising after the effective date of this Registration Statement
(or the most recent post-effective amendment thereof) which,
individually or in the aggregate, represent a fundamental change in the
information set forth in the Registration Statement;
(iii)
to include any material information with
respect to the plan of distribution not previously disclosed in this
Registration Statement or any material change to such information in
this Registration Statement;
Provided, however, that paragraph (a)(1)(i) and (a)(1)(ii) shall not
apply if the Registration Statement is on Form S-3, Form S-8 or Form
F-3 and the information required to be included in a post-effective
amendment by those paragraphs is contained in periodic reports filed
by the Company pursuant to Section 13 or Section 15(d) of the
Securities Exchange Act of 1934 that are incorporated by reference in
this Registration Statement.
(2)
That, for the purpose of determining any liability under the
Securities Act of 1933, each such post-effective amendment shall be deemed to
be a new Registration Statement relating to the securities offered therein and
the offering of such securities at that time shall be deemed to be the initial
bona fide offering thereof.
(3)
To remove from registration by means of a post-effective
amendment any of the securities being registered which remain unsold at the
termination of the offering.
(b)
The undersigned Company hereby undertakes that, for purposes of determining any
liability under the Securities Act of 1933, each filing of the Company's Annual Report
pursuant to Section 13(a) or Section 15(d) of the Securities Exchange Act of 1934 (and,
where applicable, each filing of an employee benefit plan's annual report pursuant to
Section 15(d) of the Securities Exchange Act of 1934) that is incorporated by reference
in this Registration Statement shall be deemed to be a new registration statement
relating to the securities offered
4
therein, and the offering of such securities at that time shall be deemed to be the
initial bona fide offering thereof.
(c)
Insofar as indemnification for liabilities arising under the Securities Act of
1933 may be permitted to directors, officers and controlling persons of the Company
pursuant to the foregoing provisions or otherwise, the Company has been advised that,
in the opinion of the Securities and Exchange Commission, such indemnification is
against public policy as expressed in the act and is, therefore, unenforceable. In the
event that a claim for indemnification against such liabilities (other than the payment
by the Company of expenses incurred or paid by a director, officer or controlling
persons of the Company in the successful defense of any action, suit or proceeding) is
asserted by such director, officer or controlling persons in connection with the
securities being registered, the Company will, unless in the opinion of its counsel the
matter has been settled by controlling precedent, submit to a court of appropriate
jurisdiction the question whether such indemnification by it is against public policy
as expressed in the Act and will be governed by the final adjudication of such issue.
SIGNATURES
Pursuant to the requirements of the Securities Act of 1933, the Company certifies that it has
reasonable grounds to believe that it meets all the requirements for filing on Form S-8 and has
duly caused this Registration Statement to be signed on its behalf by the undersigned, thereunto
duly authorized, in the City of Hauppauge, State of New York, on June 1, 2005.
SMITHTOWN BANCORP, INC.
(Registrant)
By:
/s/ Bradley E. Rock
Bradley E. Rock
Chairman, President and Chief Executive Officer
5
Pursuant to the requirements of the Securities Act of 1933, this Registration Statement has been
signed by the following persons in the capacities indicated, on May 31, 2005.
Signature
Title
/s/ Bradley E. Rock
Bradley E. Rock
Chairman, President and Chief Executive Officer
(Principal Executive Officer)
/s/ Anita M. Florek
Anita M. Florek
Executive Vice President and Treasurer
(Principal Financial Officer)
Bradley E. Rock
Director
Patrick A. Given
Director
Sanford C. Scheman
Director
Patricia C. Delaney
Director
Robert W. Scherdel
Director
Hyukmun Kwon
Director
Augusta Kemper
Director
Barry M. Seigerman
Director
Manny Schwartz
Director
Bradley E. Rock, by signing his name hereto, does hereby sign this document in his capacity as a
director and pursuant to powers of attorney duly executed by the persons named, filed with the
Securities and Exchange Commission as an exhibit to this document, on behalf of such persons, all
in the capacities and on the date stated, such persons including a majority of the directors of the
Registrant.
/s/ Bradley E. Rock
Bradley E. Rock
Attorney-in-Fact
6
EXHIBIT INDEX
TO REGISTRATION STATEMENT ON FORM S-8
5.1
Opinion of Gerrish & McCreary, P.C. as to the legality of the securities being
registered (including consent of counsel).*
23.1
Consent of Crowe Chizek and Company, LLC.*
24.1
Power of Attorney pursuant to which certain directors have signed this Form S-8
Registration Statement.*
99.1
Smithtown Bancorp Restricted Stock Plan.*
* Filed herewith.