Exhibit 20

                                                            NASDAQ SYMBOL:  FSLA

FIRST SENTINEL BANCORP, INC.
1000 Woodbridge Center Drive, PO Box 5003, Woodbridge, New Jersey 07095
Phone: (732) 726-9700     Internet: www.firstsentinelbancorp.com

NEWS RELEASE
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FOR IMMEDIATE RELEASE                         CONTACT:  Ann C. Clancy
December 3, 2001                                        Investor Relations
                                                        Ph: (732) 726-9700 x5514
                                                        Fax: (732) 726-5541



                   FIRST SENTINEL BANCORP SELLS $25.0 MILLION
                          OF TRUST PREFERRED SECURITIES

Woodbridge, NJ - The Board of Directors of First Sentinel Bancorp, Inc., ("First
Sentinel") (NASDAQ:  FSLA) the holding company for First Savings Bank, announced
today that it has  completed its offering of trust  preferred  securities in the
aggregate  amount of $25.0  million.  The  securities  were  issued by a special
purpose  business  trust  formed  by First  Sentinel  and were  sold to a pooled
investment  vehicle  sponsored by Sandler  O'Neill & Partners,  L.P. and Salomon
Smith Barney Inc. in a private transaction. The securities were sold pursuant to
an applicable  exemption from registration  under the Securities Act of 1933, as
amended (the "Act"), and have not been registered under the Act. Sandler O'Neill
assisted First Sentinel in the placement of the trust preferred securities.  The
securities  may not be offered or sold in the United States absent  registration
or an applicable exemption from registration requirements.

Of the $25.0 million of trust preferred  securities  sold,  $12.5 million have a
floating rate of interest, which is reset semi-annually,  equal to 6-month LIBOR
plus 3.75%. The floating rate, however,  may not exceed 11.0% for the first five
years.  The remaining $12.5 million of trust  preferred  securities have a fixed
rate of interest of 9.95%.

First  Sentinel  intends to use the proceeds from the sale of the securities for
general  corporate   purposes,   including  the  payment  of  dividends  on  and
repurchases of First Sentinel's common stock.





This press release shall not constitute an offer to sell or the  solicitation of
an offer to buy, nor shall there be any sale of these securities in any state in
which such offer,  solicitation  or sale would be unlawful prior to registration
or qualification under the securities law of any state.

First Sentinel,  through its subsidiary,  First Savings Bank, operates 22 branch
offices in Middlesex, Monmouth, Mercer and Union Counties, New Jersey.

Statements  contained  in this news  release  that are not  historical  fact are
forward-looking  statements,  as the term is defined in the  Private  Securities
Litigation  Reform Act of 1995. Such  forward-looking  statements are subject to
risks and  uncertainties  that could cause actual  results to differ  materially
from those currently anticipated due to a large number of factors.  Factors that
may cause a  difference  include,  but are not limited  to,  changes in interest
rates,  economic  conditions,  deposit and loan growth, real estate values, loan
loss provisions,  competition, customer retention and changes in legislation and
regulation.   First  Sentinel  assumes  no  obligation  for  updating  any  such
forward-looking statements at any time.

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