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Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
Originator-Key-Asymmetric:
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 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 BsPGaYsF/Moy5MaPqLFb67TDOMgPUUULd3Ey1JrhFRkEuMZobUZaK2Z9hwJadNRA
 VXUuhG+MG8VsmD+0gnEzsw==

<SEC-DOCUMENT>0001181431-03-031714.txt : 20031119
<SEC-HEADER>0001181431-03-031714.hdr.sgml : 20031119
<ACCEPTANCE-DATETIME>20031119130816
ACCESSION NUMBER:		0001181431-03-031714
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20031119
FILED AS OF DATE:		20031119

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			MADISON BANCSHARES INC
		CENTRAL INDEX KEY:			0001141106
		STANDARD INDUSTRIAL CLASSIFICATION:	NATIONAL COMMERCIAL BANKS [6021]
		IRS NUMBER:				593720289
		STATE OF INCORPORATION:			FL
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		35388 US HIGHWAY 19 NORTH
		CITY:			PALM HARBOR
		STATE:			FL
		ZIP:			34684
		BUSINESS PHONE:		7277863888

	MAIL ADDRESS:	
		STREET 1:		35388 US HIGHWAY 19 NORTH
		CITY:			PALM HARBOR
		STATE:			FL
		ZIP:			34684

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			CUTLER MELVIN S
		CENTRAL INDEX KEY:			0000938224
		STATE OF INCORPORATION:			FL
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-32867
		FILM NUMBER:		031012308

	BUSINESS ADDRESS:	
		STREET 1:		35388 US 19 NORTH
		CITY:			PALM HARBOR
		STATE:			FL
		ZIP:			34684
		BUSINESS PHONE:		8137863888

	MAIL ADDRESS:	
		STREET 1:		35388 US 19 NORTH
		CITY:			PALM HARBOR
		STATE:			FL
		ZIP:			34684
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>rrd23316.xml
<TEXT>
<XML>
<?xml version="1.0"?><ownershipDocument>
    <schemaVersion>X0201</schemaVersion>

    <documentType>4</documentType><periodOfReport>2003-11-19</periodOfReport><notSubjectToSection16>0</notSubjectToSection16>
    <issuer>
        <issuerCik>0001141106</issuerCik>
        <issuerName>MADISON BANCSHARES INC</issuerName>
        <issuerTradingSymbol>MDBS</issuerTradingSymbol></issuer><reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0000938224</rptOwnerCik>
            <rptOwnerName>CUTLER MELVIN S</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>35388 U.S. HIGHWAY 19 NORTH</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>PALM HARBOR</rptOwnerCity>
            <rptOwnerState>FL</rptOwnerState>
            <rptOwnerZipCode>34684</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
            <reportingOwnerRelationship>
<isDirector>1</isDirector><isOfficer>1</isOfficer><isTenPercentOwner>1</isTenPercentOwner><isOther>0</isOther><officerTitle>Chairman</officerTitle></reportingOwnerRelationship></reportingOwner><nonDerivativeTable><nonDerivativeTransaction><securityTitle><value>Common Stock</value></securityTitle><transactionDate><value>2003-11-19</value></transactionDate><transactionCoding><transactionFormType>4</transactionFormType><transactionCode>P</transactionCode><equitySwapInvolved>0</equitySwapInvolved></transactionCoding><transactionAmounts><transactionShares><value>2000</value></transactionShares><transactionPricePerShare><value>15.40</value></transactionPricePerShare><transactionAcquiredDisposedCode><value>A</value></transactionAcquiredDisposedCode></transactionAmounts><postTransactionAmounts><sharesOwnedFollowingTransaction><value>417631</value></sharesOwnedFollowingTransaction></postTransactionAmounts><ownershipNature><directOrIndirectOwnership><value>D</value></directOrIndirectOwnership></ownershipNature></nonDe
rivativeTransaction></nonDerivativeTable><ownerSignature><signatureName>Melvin S. Cutler</signatureName><signatureDate>2003-11-19</signatureDate></ownerSignature></ownershipDocument>



</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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