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):September 20, 1999 Saratoga Bancorp (Exact name of registrant as specified in its charter) California (State or other jurisdiction of incorporation) 2-77519-LA 94-2817587 (Commission File Number) (IRS Employer Identification No.) 12000 Saratoga-Sunnyvale Road, Saratoga, CA 95070 (Address of principal executive office and ZIP code) Registrant's telephone number, including area code: (408) 973-1111 None (Former name or former address, if changed since last report) PAGE 1 OF 4 PAGES Item 5 Other Events On September 20, 1999, the Board of Directors of Saratoga Bancorp decleared a ten cent ($0.10) cash dividend on the outstanding shares of Common Stock of Saratoga Bancorp, to be payable on November 5, 1999 to shareholders of record at the close of business on October 22, 1999. Item 7 Financial Statements and Exhibits (a) Not applicable (b) Not applicable (c) Exhibits (21) Press Release issued on 9/20/99 describing cash dividend. PAGE 2 OF 4 PAGES 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. SARATOGA BANCORP (Registrant) By: ____________________________ Mary Page Rourke Treasurer (Principal Financial and Accounting Officer) Date: September 23, 1999 PAGE 3 OF 4 PAGES FOR IMMEDIATE RELEASE SARATOGA BANCORP ANNOUNCES DIVIDEND PAYMENT SARATOGA, CA - September 20, 1999 - Saratoga Bancorp, parent company for Saratoga National Bank, is pleased to announce that its financial performance in 1999 has provided the Company with the ability to return a portion of its profits to its shareholders. A $0.10 per share cash dividend, effective for shareholders of record as of October 22, 1999 will be paid on November 5, 1999. On August 27, 1999, Saratoga Bancorp (OTC BB: SRTB) and SJNB Financial Corp. (NASDAQ: SJNB) jointly announced the signing of a definitive Merger Agreement under which SJNB will acquire the outstanding shares of common stock of Saratoga Bancorp pursuant to an exchange of SJNB Common Stock for all common stock of Saratoga. The merger between Saratoga Bancorp and San Jose-based SJNB will result in the formation of a financial institution with approximately $552 million in assets, $440 million in deposits and $49 million in shareholders' equity based on each company's financial position as of June 30, 1999. The combined shareholder base is estimated to number approximately 2,000. The combined institution will continue to operate offices in Saratoga, Los Gatos and San Jose. Richard L. Mount 12000 Saratoga-Sunnyvale Road Saratoga, CA 95070 (408) 973-1111 UNAUDITED ##### PAGE 4 OF 4 PAGES