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):

                               JULY 15, 1996

                            RCSB FINANCIAL, INC.
              (Exact Name of Registrant as Specified in Charter)

                                  DELAWARE
                (State or other jurisdiction of incorporation)

                                  0-17709
                           (Commission File Number)


                                 16-1484699
                   (I.R.S. Employer Identification Number)


              235 EAST MAIN STREET, ROCHESTER, NEW YORK 14604
             (Address of Principal Executive Offices)  (Zip Code)


              Registrant's Telephone Number Including Area Code:

                               (716) 423-7270

<PAGE>
ITEM  5.  OTHER  EVENTS.

(A)       In accordance with a Notice of Redemption dated June 3, 1996, at the
close  of  business  on July 15, 1996 (the "Redemption Date"), RCSB Financial,
Inc.  ("RCSB"  or  "the  Company")  redeemed  652  shares  of the Company's 7%
Noncumulative Convertible Perpetual Preferred Stock, Series B (Nasdaq:  RCSBP)
(the "Series B Preferred Stock"), at a price of $26.225 per share plus accrued
dividends  for  the  dividend  period  ending  July 14, 1996, in the amount of
$0.4375  per  share.    Between  June 3, 1996 and the close of business on the
Redemption  Date, the holders of 2,988,088 shares of Series B, Preferred Stock
elected  to  convert those shares into 4,668,833 shares of common stock of the
Company.

     From and after the Redemption Date, no shares of Series B Preferred Stock
remain  outstanding.


(B)       On  July 24, 1996, the Board of Directors of RCSB elected John P.
Tierney  to  serve  on the Board of the Company.  Mr. Tierney retired from the
position  of  Chairman and CEO of Chrysler Financial Corporation in 1994 after
31  years  in  the  automotive business.  Mr. Tierney's election increases the
size  of  the  Board  to  11  directors  and he will be among the nominees for
re-election  by  the  shareholders  at  RCSB's  1997  Annual  Meeting.


                                    - 2 -

<PAGE>
                                 SIGNATURES

     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.



                                               RCSB FINANCIAL, INC.


                                         By:   /s/ Paul R. Wuest
                                               ------------------
                                               Paul R. Wuest
                                               Senior Vice President and
                                               Chief Financial Officer




Dated: August 8, 1996


                                    - 3 -
[{"type": "8-K", "sequence": "1", "description": "FORM 8-K", "secsgml_size_bytes": 3170}]
{"company-data": {"conformed-name": "RCSB FINANCIAL INC", "cik": "0000840068", "assigned-sic": "6036", "irs-number": "161484699", "state-of-incorporation": "DE", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "000-17709", "film-number": "96606581"}, "business-address": {"street1": "235 E MAIN ST", "city": "ROCHESTER", "state": "NY", "zip": "14604", "phone": "7164237255"}, "mail-address": {"street1": "235 EAST MAIN STREET", "city": "ROCHESTER", "state": "NY", "zip": "14604"}, "former-company": {"former-conformed-name": "ROCHESTER COMMUNITY SAVINGS BANK", "date-changed": "19920703"}}
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):

                               JULY 15, 1996

                            RCSB FINANCIAL, INC.
              (Exact Name of Registrant as Specified in Charter)

                                  DELAWARE
                (State or other jurisdiction of incorporation)

                                  0-17709
                           (Commission File Number)

                                 16-1484699
                   (I.R.S. Employer Identification Number)

              235 EAST MAIN STREET, ROCHESTER, NEW YORK 14604
             (Address of Principal Executive Offices)  (Zip Code)

              Registrant's Telephone Number Including Area Code:

                               (716) 423-7270
ITEM  5.  OTHER  EVENTS.

(A)       In accordance with a Notice of Redemption dated June 3, 1996, at the
close  of  business  on July 15, 1996 (the "Redemption Date"), RCSB Financial,
Inc.  ("RCSB"  or  "the  Company")  redeemed  652  shares  of the Company's 7%
Noncumulative Convertible Perpetual Preferred Stock, Series B (Nasdaq:  RCSBP)
(the "Series B Preferred Stock"), at a price of $26.225 per share plus accrued
dividends  for  the  dividend  period  ending  July 14, 1996, in the amount of
$0.4375  per  share.    Between  June 3, 1996 and the close of business on the
Redemption  Date, the holders of 2,988,088 shares of Series B, Preferred Stock
elected  to  convert those shares into 4,668,833 shares of common stock of the
Company.

     From and after the Redemption Date, no shares of Series B Preferred Stock
remain  outstanding.

(B)       On  July 24, 1996, the Board of Directors of RCSB elected John P.
Tierney  to  serve  on the Board of the Company.  Mr. Tierney retired from the
position  of  Chairman and CEO of Chrysler Financial Corporation in 1994 after
31  years  in  the  automotive business.  Mr. Tierney's election increases the
size  of  the  Board  to  11  directors  and he will be among the nominees for
re-election  by  the  shareholders  at  RCSB's  1997  Annual  Meeting.

                                    - 2 -
SIGNATURES

     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.

                                               RCSB FINANCIAL, INC.

                                         By:   /s/ Paul R. Wuest
                                               ------------------
                                               Paul R. Wuest
                                               Senior Vice President and
                                               Chief Financial Officer

Dated: August 8, 1996

                                    - 3 -