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      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 18pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold">UNITED STATES</font></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 18pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold">SECURITIES AND EXCHANGE
  COMMISSION</font></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Washington, D.C.
  20549</font></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 18pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold">FORM 8-K</font></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold">CURRENT REPORT
  PURSUANT</font></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold">to Section 13 or 15(d) of
  the</font></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Securities Exchange Act of
  1934</font></font></div>
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      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Date of Report (Date of earliest
  event reported) August 1, 2008</font></font></div>
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      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 18pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold">State Bancorp,
  Inc.</font></font></div>
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        Incorporation)</font></font></div>
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        Employer</font></font></div>
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        No.)</font></font></div>
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  Offices) </font></font></div>
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  appropriate box below if the Form 8-K filing is intended to simultaneously
  satisfy the filing obligation of the registrant under any of the following
  provisions: </font></div>
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        communications pursuant to Rule 425 under the Securities Act (17 CFR
        230.425) </font></div>
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        material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
        240.14a-12) </font></div>
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              <td align="left" valign="top" width="3%">
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        240.14d-2(b)) </font></div>
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            <tr>
              <td align="left" valign="top" width="3%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: wingdings">&#168;</font></div>
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                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Pre-commencement
        communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
        240.13e-4(c)) </font></div>
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      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
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      <div>&#160;</div>
      <div>&#160;</div>
      <div>
        <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">ITEM
  1.01 - ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
  As of August 1, 2008, State Bancorp, Inc. (the <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#8220;Company&#8221;</font>)
  entered into an Amended and Restated Change of Control Employment Agreement
  (t<font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">he
  &#8220;Change of Control Agreement&#8221;) </font>with Brian K. Finneran, the Company's
  Chief Financial Officer.&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
  Change of Control&#160;Agreement&#160;supersedes any existing agreement with Mr.
  Finneran covering the same subject matter and is designed to comply with
  provisions of the section 409A of the Internal Revenue Code of 1986, regulating
  non-qualified deferred compensation plans, that may apply to employment
  agreements.&#160; Mr. Finneran's Change of Control Agreement is on the form of
  agreement adopted by the Company for use in entering into change of control
  agreements with executive officers.&#160; The form of change of control
  agreement was filed as Exhibit 10.1 to the Company's 10-Q filed by the Company
  on November 9, 2007 and is incorporated herein by reference.</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;The
  Change of Control&#160;Agreement provides Mr. Finneran with severance benefits
  payable in the event of discharge without cause or resignation with good reason
  in connection with or within a prescribed period following&#160;a change of
  control of the Company (the &#8220;Employment&#160;Period&#8221;). Severance benefits
  include a multiple of base salary rate and recent annual bonus (the <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#8220;Severance
  Multiple&#8221;) </font>and a continuation of health, medical and other insurance
  benefits for a period of&#160;years following termination (the <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#8220;Benefits
  Continuation Period&#8221;)</font>. Severance benefits are capped at the maximum
  amount that may be paid without triggering an excise tax under section 4999 of
  the Internal Revenue Code of 1986 or resulting in a loss of deductibility under
  section 280G of the Internal Revenue Code of 1986. In consideration for the
  severance benefits, Mr. Finneran agrees to observe covenants that protect the
  Company&#8217;s confidential and proprietary information, to refrain from disparaging
  the Company, and for one year following termination, to refrain from soliciting
  or interfering with the Company&#8217;s relationships with its customers and
  employees.</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      </div>
      <div><font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;&#160;&#160; The
  details of Mr. Finneran's Change of Control Agreement are set forth below:</div>
      <div>&#160;</div>
      <div align="center">
        <table bgcolor="white" cellpadding="0" cellspacing="0" width="100%">
            <tr bgcolor="#cceeff">
              <td width="25%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; TEXT-DECORATION: underline">Name&#160;</font></td>
              <td width="20%">
                <div style="TEXT-ALIGN: center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; TEXT-DECORATION: underline">Employment
        Period (Years)&#160;</font></div>
              </td>
              <td width="23%">
                <div style="TEXT-ALIGN: center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; TEXT-DECORATION: underline">Severance
        Multiple&#160;</font></div>
              </td>
              <td width="32%" style="TEXT-ALIGN: center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; TEXT-DECORATION: underline">Benefits
        Continuation Period (Years)&#160;</font></td>
            </tr>
            <tr bgcolor="white">
              <td width="25%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Brian K.
        Finneran&#160;</font></td>
              <td width="20%">
                <div style="TEXT-ALIGN: center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Three
        years&#160;</font></div>
              </td>
              <td width="23%">
                <div style="TEXT-ALIGN: center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Two&#160;</font></div>
              </td>
              <td width="32%">
                <div style="TEXT-ALIGN: center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Two
        years&#160;</font></div>
              </td>
            </tr>
        </table>
      </div>
      <div>&#160;</div>
      <div>&#160;</div>
      <div>&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">ITEM
  5.02&#160;&#160;&#160;&#160;&#160;&#160;&#160;DEPARTURE OF DIRECTORS OR CERTAIN
  OFFICERS; ELECTION OF DIRECTORS; APPOINTMENT OF CERTAIN DIRECTORS; COMPENSATORY
  ARRANGEMENTS OF CERTAIN OFFICERS</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>By letter dated August 6, 2008, Gerard
  J. McKeon tendered his resignation as a director of the Company and State Bank
  of Long Island, effective September 30, 2008.</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">ITEM
  8.01&#160;&#160;&#160;&#160;&#160;&#160;&#160;OTHER EVENTS</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">On August
  6, 2008, the Company issued a press release announcing final approval of the
  Stipulation of Settlement relating to the previously disclosed shareholder
  derivative lawsuit.&#160;&#160;The press release is filed herewith as Exhibit
  99.1.</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">On August
  5, 2008 the Honorable Ira B. Warshawsky, J.S.C. signed a Final Judgment and
  Order of Dismissal (&#8220;Final Judgment&#8221;) with regard to the Stipulation of
  Settlement among the parties, dated June 12, 2008, in connection with the
  previously disclosed shareholder derivative suit filed in the Supreme Court of
  the State of New York, County of Nassau (the &#8220;Court&#8221;) (Index No. 012411/07) by
  Ona Guthartz, First Wall Securities, Inc. and Alan Guthartz as custodian for
  Jason Guthartz.&#160;&#160;The Final Judgment was entered in the County Clerk&#8217;s
  Office, Nassau County on August 5, 2008.</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
  summary of the terms of the Stipulation of Settlement set forth in the Current
  Report on Form 8-K filed by the Company on June 18, 2008 and qualified in its
  entirety by reference to the Notice of Pendency and Settlement of Shareholder
  Derivative Action, filed as an exhibit thereto, is incorporated herein by
  reference.</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">In
  addition to issuing final approval of the Stipulation of Settlement, the Final
  Judgment approved the award to plaintiffs&#8217; counsel of attorneys&#8217; fees in the sum
  of $1,000,000 and expenses in the sum of $27,839.38.&#160;&#160;The Court also
  determined that each of the individual defendants are fairly and reasonably
  entitled to be indemnified by the Company for their legal fees and expenses
  incurred in connection with the defense and settlement of&#160;&#160;the
  lawsuit.&#160;&#160;Gulf Insurance Company has agreed to pay an additional
  $575,000 to the Company (above the $1.2 million agreed to in the Stipulation of
  Settlement) in final settlement of all insurance claims related to this
  matter.&#160;&#160;This amount will help to offset such indemnification costs as
  well as the Company&#8217;s legal fees incurred in connection with the derivative
  lawsuit.</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
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        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
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  9.01&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;FINANCIAL STATEMENTS AND
  EXHIBITS</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(d)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Exhibits</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
  following exhibits are filed as part of this report.</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font id="TAB2" style="LETTER-SPACING: 9pt"></font>&#160;</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
  Exhibit
  10.1&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
  Form of Amended and Restated Change of Control Employment Agreement
  (incorporated by reference </div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
  to the Company's Quarterly Report on Form 10-Q for the quarter ended September
  30, 2007 filed on November 9, 2007</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
  &#160;(File No. 001-14783)</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><a href="form8k_aug2008ex99-1.htm">Exhibit
  99.1&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Press
  Release announcing final approval of Stipulation of Settlement</a></font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Exhibit
  99.2&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Notice
  of&#160;&#160;Pendency and Settlement of Shareholder Derivative Action
  (incorporated by reference to Exhibit 99.1 of the Registrant&#8217;s Current Report on
  Form 8-K filed on June 18, 2008 (File No. 001-14783)</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      </div>
      <div align="left">
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><br>&#160;</div>
        <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
          <div id="FTR">
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            <div style="WIDTH: 100%; TEXT-ALIGN: center">
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      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold">SIGNATURES </font></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
  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 hereunto duly authorized.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
      <div>
        <table cellpadding="0" cellspacing="0" width="100%">
            <tr>
              <td align="left" valign="middle" width="37%">&#160;</td>
              <td align="left" valign="bottom" width="1%">&#160;</td>
              <td align="left" valign="middle" width="2%">&#160;</td>
              <td align="left" valign="bottom" width="1%">&#160;</td>
              <td align="left" valign="middle" width="37%">&#160;</td>
            </tr>
            <tr>
              <td align="left" valign="top" width="37%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Date:
        &#160;August 6, 2008</font></div>
              </td>
              <td align="left" valign="bottom" width="1%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
              </td>
              <td align="left" colspan="3" valign="bottom" width="40%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold">State Bancorp,
        Inc.</font></font></div>
              </td>
            </tr>
            <tr>
              <td align="left" valign="middle" width="37%">&#160;</td>
              <td align="left" colspan="2" valign="middle" width="3%">&#160;</td>
              <td align="left" colspan="2" valign="middle" width="38%">&#160;</td>
            </tr>
            <tr>
              <td align="left" valign="top" width="37%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
              </td>
              <td align="left" valign="bottom" width="1%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
              </td>
              <td align="left" valign="top" width="2%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">By:</font></div>
              </td>
              <td align="left" valign="bottom" width="1%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
              </td>
              <td align="left" valign="bottom" width="37%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline; TEXT-DECORATION: underline">/s/ Brian K.
        Finneran</font></font></div>
              </td>
            </tr>
            <tr>
              <td align="left" valign="top" width="37%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
              </td>
              <td align="left" valign="bottom" width="1%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
              </td>
              <td align="left" valign="bottom" width="2%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
              </td>
              <td align="left" valign="bottom" width="1%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
              </td>
              <td align="left" valign="bottom" width="37%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Brian
        K. Finneran</font></div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Chief
        Financial Officer</font></div>
              </td>
            </tr>
        </table>
      </div>
      <div>&#160;</div>
      <div>&#160;</div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="left">
          </div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always">
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
          </div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="right">
          </div>
        </div>
      </div>
      <div>&#160;</div>
      <div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">EXHIBIT
  INDEX</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; TEXT-DECORATION: underline">Exhibit
  Number</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Description</font></font></div>
        <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
        <div style="DISPLAY: block; TEXT-INDENT: 0pt">Exhibit
  10.1&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
  Form of Amended and Restated Change of Control Employment Agreement
  (incorporated by reference
  
          <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
  to the Company's Quarterly Report on Form 10-Q for the quarter ended September
  30, 2007 filed</div>
          <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
  &#160; on November 9, 2007&#160;(File No. 001-14783)</div>
        </div>
        <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><a href="form8k_aug2008ex99-1.htm">Exhibit
  99.1&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Press
  Release announcing final approval of Stipulation of Settlement</a></font></div>
        <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
        <div>
          <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
              <tr valign="top">
                <td style="WIDTH: 108pt">
                  <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Exhibit
        99.2</font></div>
                </td>
                <td>
                  <div align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Notice
        of Pendency and Settlement of Shareholder Derivative Action (incorporated
        by reference to the Registrant&#8217;s Current Report on From 8-K filed June 18,
        2008 (File No.
  001-14783)</font></div>
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metadata_filer: {"company-data": {"conformed-name": "STATE BANCORP INC", "cik": "0000723458", "assigned-sic": "6022", "irs-number": "112846511", "state-of-incorporation": "NY", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "001-14783", "film-number": "08994838"}, "business-address": {"street1": "2 JERICHO PLZ", "city": "JERICHO", "state": "NY", "zip": "11753", "phone": "516-465-2200"}, "mail-address": {"street1": "2 JERICHO PLZ", "city": "JERICHO", "state": "NY", "zip": "11753"}}
text: form8k_aug2008.htm
  UNITED STATES
  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) August 1, 2008
  State Bancorp,
  Inc.
  (Exact name of registrant as
  specified in its charter)
  New York
  001-14783
  11-2846511
  (State or Other
        Jurisdiction
  of
        Incorporation)
  (Commission File
        Number)
  (IRS
        Employer
  Identification
        No.)
  Two Jericho Plaza
  Jericho, NY 11753
  (Address of Principal Executive
  Offices)
  Registrant's telephone number,
  including area code (516) 465-2200
  Check the
  appropriate box below if the Form 8-K filing is intended to simultaneously
  satisfy the filing obligation of the registrant under any of the following
  provisions:
  ¨
  Written
        communications pursuant to Rule 425 under the Securities Act (17 CFR
        230.425)
  ¨
  Soliciting
        material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
        240.14a-12)
  ¨
  Pre-commencement
        communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
        240.14d-2(b))
  ¨
  Pre-commencement
        communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
        240.13e-4(c))
  ITEM
  1.01 - ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT
  As of August 1, 2008, State Bancorp, Inc. (the
  "Company"
  )
  entered into an Amended and Restated Change of Control Employment Agreement
  (t
  he
  "Change of Control Agreement")
  with Brian K. Finneran, the Company's
  Chief Financial Officer.
  The
  Change of Control Agreement supersedes any existing agreement with Mr.
  Finneran covering the same subject matter and is designed to comply with
  provisions of the section 409A of the Internal Revenue Code of 1986, regulating
  non-qualified deferred compensation plans, that may apply to employment
  agreements.  Mr. Finneran's Change of Control Agreement is on the form of
  agreement adopted by the Company for use in entering into change of control
  agreements with executive officers.  The form of change of control
  agreement was filed as Exhibit 10.1 to the Company's 10-Q filed by the Company
  on November 9, 2007 and is incorporated herein by reference.
  The
  Change of Control Agreement provides Mr. Finneran with severance benefits
  payable in the event of discharge without cause or resignation with good reason
  in connection with or within a prescribed period following a change of
  control of the Company (the "Employment Period"). Severance benefits
  include a multiple of base salary rate and recent annual bonus (the
  "Severance
  Multiple")
  and a continuation of health, medical and other insurance
  benefits for a period of years following termination (the
  "Benefits
  Continuation Period")
  . Severance benefits are capped at the maximum
  amount that may be paid without triggering an excise tax under section 4999 of
  the Internal Revenue Code of 1986 or resulting in a loss of deductibility under
  section 280G of the Internal Revenue Code of 1986. In consideration for the
  severance benefits, Mr. Finneran agrees to observe covenants that protect the
  Company's confidential and proprietary information, to refrain from disparaging
  the Company, and for one year following termination, to refrain from soliciting
  or interfering with the Company's relationships with its customers and
  employees.
  The
  details of Mr. Finneran's Change of Control Agreement are set forth below:
  Name
  Employment
        Period (Years)
  Severance
        Multiple
  Benefits
        Continuation Period (Years)
  Brian K.
        Finneran
  Three
        years
  Two
  Two
        years
  ITEM
  5.02       DEPARTURE OF DIRECTORS OR CERTAIN
  OFFICERS; ELECTION OF DIRECTORS; APPOINTMENT OF CERTAIN DIRECTORS; COMPENSATORY
  ARRANGEMENTS OF CERTAIN OFFICERS
  By letter dated August 6, 2008, Gerard
  J. McKeon tendered his resignation as a director of the Company and State Bank
  of Long Island, effective September 30, 2008.
  ITEM
  8.01       OTHER EVENTS
  On August
  6, 2008, the Company issued a press release announcing final approval of the
  Stipulation of Settlement relating to the previously disclosed shareholder
  derivative lawsuit.  The press release is filed herewith as Exhibit
  99.1.
  On August
  5, 2008 the Honorable Ira B. Warshawsky, J.S.C. signed a Final Judgment and
  Order of Dismissal ("Final Judgment") with regard to the Stipulation of
  Settlement among the parties, dated June 12, 2008, in connection with the
  previously disclosed shareholder derivative suit filed in the Supreme Court of
  the State of New York, County of Nassau (the "Court") (Index No. 012411/07) by
  Ona Guthartz, First Wall Securities, Inc. and Alan Guthartz as custodian for
  Jason Guthartz.  The Final Judgment was entered in the County Clerk's
  Office, Nassau County on August 5, 2008.
  The
  summary of the terms of the Stipulation of Settlement set forth in the Current
  Report on Form 8-K filed by the Company on June 18, 2008 and qualified in its
  entirety by reference to the Notice of Pendency and Settlement of Shareholder
  Derivative Action, filed as an exhibit thereto, is incorporated herein by
  reference.
  In
  addition to issuing final approval of the Stipulation of Settlement, the Final
  Judgment approved the award to plaintiffs' counsel of attorneys' fees in the sum
  of $1,000,000 and expenses in the sum of $27,839.38.  The Court also
  determined that each of the individual defendants are fairly and reasonably
  entitled to be indemnified by the Company for their legal fees and expenses
  incurred in connection with the defense and settlement of  the
  lawsuit.  Gulf Insurance Company has agreed to pay an additional
  $575,000 to the Company (above the $1.2 million agreed to in the Stipulation of
  Settlement) in final settlement of all insurance claims related to this
  matter.  This amount will help to offset such indemnification costs as
  well as the Company's legal fees incurred in connection with the derivative
  lawsuit.
  ITEM
  9.01        FINANCIAL STATEMENTS AND
  EXHIBITS
  (d)           Exhibits
  The
  following exhibits are filed as part of this report.
  Exhibit
  10.1              
  Form of Amended and Restated Change of Control Employment Agreement
  (incorporated by reference
  to the Company's Quarterly Report on Form 10-Q for the quarter ended September
  30, 2007 filed on November 9, 2007
  (File No. 001-14783)
  Exhibit
  99.1               Press
  Release announcing final approval of Stipulation of Settlement
  Exhibit
  99.2               Notice
  of  Pendency and Settlement of Shareholder Derivative Action
  (incorporated by reference to Exhibit 99.1 of the Registrant's Current Report on
  Form 8-K filed on June 18, 2008 (File No. 001-14783)
  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 hereunto duly authorized.
  Date:
         August 6, 2008
  State Bancorp,
        Inc.
  By:
  /s/ Brian K.
        Finneran
  Brian
        K. Finneran
  Chief
        Financial Officer
  EXHIBIT
  INDEX
  Exhibit
  Number
  Description
  Exhibit
  10.1                          
  Form of Amended and Restated Change of Control Employment Agreement
  (incorporated by reference
  to the Company's Quarterly Report on Form 10-Q for the quarter ended September
  30, 2007 filed
  on November 9, 2007 (File No. 001-14783)
  Exhibit
  99.1                           Press
  Release announcing final approval of Stipulation of Settlement
  Exhibit
        99.2
  Notice
        of Pendency and Settlement of Shareholder Derivative Action (incorporated
        by reference to the Registrant's Current Report on From 8-K filed June 18,
        2008 (File No.
  001-14783)