8-K

                       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 17, 1996

                                SIS Bancorp, Inc.

State or other jurisdiction of                               (I.R.S. Employer
incorporation or organization                                Identification No.)

Massachusetts                                                04-3303264

SIS Bancorp, Inc.
1441 Main Street
Springfield, MA 01102

(413) 748-8000



Item 5.  Other Events

         On September 17, 1996, the registrant  issued a press release  relating
to certain tax  benefits,  a copy of said press  release is  attached  hereto as
Exhibit 99.1.

Item 7.  Financial Statements and Exhibits

Exhibit 99.1-      SIS Bancorp, Inc. Press Release dated September 17, 1996.





         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.

SIS Bancorp, Inc.

By:_____________________________________________________
F William Marshall, Jr.    President and CEO

Date: September 23, 1996

EX-99

Press Release                 SIS Bancorp


               For Immediate Release

Date:  September 17, 1996          Contact:  Ms. Ting Chang, Vice President
                                             Investor Relations
                                             (413) 748-8271

SIS Bancorp Anticipates a $7.5 Million Non-Recurring Tax Related
Gain During the Third Quarter


SPRINGFIELD,  MA:  September  17, 1996;  5:00 P.M.,  SIS  Bancorp,  Inc., a bank
holding company for Springfield  Institution for Savings ("SIS Bank"),  (NASDAQ:
SISB)  announced  today that  based on its  preliminary  analysis  of the "Fresh
Start"  provisions of the recently  enacted Small Business Job Protection Act of
1996 it will recognize a one time gain of approximately  $2.8 million during the
third  quarter.  The Company also announced its plans to recognize the remainder
of its deferred tax asset during the third quarter.  The combined one time gains
will  approximate  $7.5 million or $1.37 per share fully diluted for the quarter
ended September 30, 1996. As a result of these actions,  the Company anticipates
being fully taxable for  financial  reporting  purposes  beginning in the fourth
quarter of 1996.

The Company also noted that present  limitations on beneficial  ownership of the
Company's  shares will continue in effect in accordance with their terms.  Under
the Company's  articles of organization,  no holder or any of its affiliates may
own more than 4.9% of the outstanding shares without prior approval of the Board
of Directors until February 7, 1998.

     Any  questions  concerning  this release may be directed to Ms. Ting Chang,
Vice President Investor Relations at (413) 748-8271.