Exhibit 8.01 (b)

                                VSB Bancorp, Inc.

               VSB BANCORP, INC. ANNOUNCES ITS FIRST CASH DIVIDEND

Contact Name:
Ralph M. Branca
President & CEO
(718) 979-1100

Staten Island, N. Y. -- November 15, 2007. VSB Bancorp, Inc. (NASDAQ CM: VSBN)
announced today that its Board of Directors has declared a quarterly cash
dividend of $0.06 per share payable on January 2, 2008 to stockholders of record
on November 29, 2007. Joseph J. LiBassi, Chairman of the Board of Directors,
stated, "We are pleased to be able to pay our first ever quarterly cash dividend
to our stockholders. We have had nine consecutive years of profitability and our
current capital ratios allow us to pay the dividend while still retaining
capital to support potential future growth of our franchise."

Raffaele M. Branca, recently elevated to the position of President and Chief
Executive Officer, reported, "As we said in our earnings release and in our
recent Form 10-QSB filing with the SEC, we earned $496,279 last quarter, which
equates to a dividend payout ratio of 22.9% on third quarter 2007 earnings."

VSB Bancorp, Inc. is the one-bank holding company for Victory State Bank.
Victory State Bank, a Staten Island based commercial bank, commenced operations
on November 17, 1997. The Bank's initial capitalization of $7.0 million was
primarily raised in the Staten Island community. The Bancorp's total equity had
increased to $19.9 million by September 30, 2007. The Bank operates five full
service locations in Staten Island, the main office at 4142 Hylan Boulevard in
Great Kills and branches on Forest Avenue in West Brighton, Hyatt Street in St.
George, Hylan Boulevard in Dongan Hills and Bay Street in Rosebank.

The payment of dividends is at the discretion of the Board of Directors and
nothing contained herein should be interpreted as a commitment to pay future
dividends.

Statements contained in this press release, which are not historical facts, are
forward -looking statements, as defined in the Private Securities Litigation
Reform Act of 1995. Such forward-looking statements are subject to risks and
uncertainties, which could cause actual results to materially differ from those
currently, anticipated. Those risks and uncertainties include, among other
things, possible future changes in (i) the local, regional or national economy,
(ii) market interest rates, (iii) customer preferences; (iv) competition or (v)
federal or state laws.