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                                                                       EXHIBIT 5


                    [Stinson, Mag & Fizzell, P.C. Letterhead]


                               September 20, 2001

Board of Directors
North Fork Bancorporation, Inc.
275 Broadhollow Road
Melville, New York  11747

                                      Re:    Registration Statement on Form S-8
                                             401(k) Retirement Savings Plan

Gentlemen:

        We have served as counsel to North Fork Bancorporation, Inc., Melville,
New York (the "Company"), in connection with the preparation and filing of a
Registration Statement on Form S-8 (the "Registration Statement") under the
Securities Act of 1933, as amended, and the Rules and Regulations promulgated
thereunder, registering the distribution of up to Three Hundred Fifty Thousand
(350,000) shares of common stock of the Company, par value $0.01 per share (the
"Shares"), through the North Fork Bancorporation, Inc. 401(k) Retirement Savings
Plan (the "Plan").

        In rendering the opinions contained herein, we have examined such
corporate records of the Company, such laws and such other information as we
have deemed relevant, including the Company's Certificate of Incorporation, as
amended, and Bylaws, as amended, certain resolutions adopted by the Board of
Directors of the Company relating to the Plan and certificates received from
state officials and from officers of the Company. In delivering this opinion, we
have assumed the genuineness of all signatures, the authenticity of all
documents submitted to us as originals, the conformity to the originals of all
documents submitted to us as certified, photostatic or conformed copies, and the
correctness of all statements submitted to us by officers of the Company.

         Based upon the foregoing, we are of the opinion that:

                  1. The Company is a corporation duly incorporated, validly
existing and in good standing under the laws of the State of Delaware.

                  2. All Shares distributed through the Plan, if any, that are
authorized but unissued shares of the Company immediately prior to such
distribution, if distributed in accordance with the Plan, will be validly issued
and outstanding and will be fully paid and nonassessable.

         We consent to the filing of this opinion letter as an exhibit to the
Registration Statement and to the use of our name in the Registration Statement.
We also consent to your filing of copies of this opinion letter as an exhibit to
the Registration Statement as filed with agencies of such states as you deem
necessary in the course of complying with the laws of such states regarding the
distribution of Shares pursuant to the Plan.

                                            Very truly yours,

                                            /s/ Stinson, Mag & Fizzell, P.C.
                                            --------------------------------
                                            STINSON, MAG & FIZZELL, P.C.