<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0202</schemaVersion>

    <documentType>4/A</documentType>

    <periodOfReport>2006-01-25</periodOfReport>

    <dateOfOriginalSubmission>2006-01-25</dateOfOriginalSubmission>

    <notSubjectToSection16>0</notSubjectToSection16>

    <issuer>
        <issuerCik>0000747345</issuerCik>
        <issuerName>SMITHTOWN BANCORP INC</issuerName>
        <issuerTradingSymbol>SMTB</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001261811</rptOwnerCik>
            <rptOwnerName>SCHWARTZ MANNY</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>ONE EAST MAIN STREET</rptOwnerStreet1>
            <rptOwnerStreet2>BANK OF SMITHTOWN</rptOwnerStreet2>
            <rptOwnerCity>SMITHTOWN</rptOwnerCity>
            <rptOwnerState>NY</rptOwnerState>
            <rptOwnerZipCode>11787</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>1</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Stock</value>
                <footnoteId id="F1"/>
            </securityTitle>
            <transactionDate>
                <value>2006-01-25</value>
            </transactionDate>
            <deemedExecutionDate>
                <value>2006-01-31</value>
            </deemedExecutionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>A</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>250</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>0</value>
                    <footnoteId id="F2"/>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>40678</value>
                    <footnoteId id="F3"/>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
    </nonDerivativeTable>

    <footnotes>
        <footnote id="F1">F1 - Amount of securities benefically owned 900 indirect by spouse and 450 direct by reporting person under Smithtown Bancorp
Restricted Stock.</footnote>
        <footnote id="F2">F2 - Consideration is for services pursuant to Smithtown Bancorp Rsestricted Stock Plan</footnote>
        <footnote id="F3">F3 - This amount reflects a 2 for 1 stock split on April 23, 2004 in computing the number of shares benefically owned, which
was not reflected on prior filings.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>Manny Schwartz</signatureName>
        <signatureDate>2006-02-02</signatureDate>
    </ownerSignature>
</ownershipDocument>
