**EXHIBIT      14(b)**

**U.S.B.      HOLDING CO., INC.**

**SENIOR      FINANCIAL OFFICERS**

**AND      PRINCIPAL EXECUTIVE OFFICER**

**CODE      OF ETHICAL CONDUCT**

**RELATED      TO FINANCIAL ACTIVITIES**

**Preface**

***Code      of Ethics***

**Senior      Financial Officers and the Principal Executive Officer Code of Ethical      Conduct**

|   | · | Act                with honesty and integrity, avoiding actual or apparent conflicts                of                interest in personal and professional                relationships. |
|--------|--------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | Provide                colleagues with information that is accurate, complete, objective,                relevant, timely, and                understandable. |
|--------|--------|---------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | Be                familiar with legal disclosures requirements applicable to the                Company. |
|--------|--------|----------------------------------------------------------------------------------------------------------|

|   | · | Comply                with the letter and spirit of applicable laws, rules, and regulations                of                federal, state, and local governments and other appropriate private                and                public regulatory agencies. |
|--------|--------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | Provide,                or cause to be provided, full, fair, accurate, timely, and understandable                disclosure in reports and documents that the Company files with or                submits                to the SEC and other governmental agencies or provides to its auditors,                and in all other public                communications. |
|--------|--------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | Act                in good faith, with due care, competence, and diligence without                misrepresenting material facts or allowing independent judgment to                be                subordinated. |
|--------|--------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | Respect                the confidentiality of information acquired in the course of                employment. |
|--------|--------|----------------------------------------------------------------------------------------------------------------|

|   | · | Share                knowledge and maintain skills necessary and relevant to the Company’s                needs. |
|--------|--------|------------------------------------------------------------------------------------------------------------------------|

|   | · | Proactively                promote ethical and honest behavior within the                workplace. |
|--------|--------|-----------------------------------------------------------------------------------------------------|

|   | · | Assure                responsible use of and control of all assets, resources, and information                in possession of the Company. |
|--------|--------|---------------------------------------------------------------------------------------------------------------------------------------------|

----

|   | · | Disclose                any and all transactions or relationships that could reasonably be                expected to lead to actual or apparent conflicts of interest to the                Company’s Audit Committee. Examples of key conflicts of interest, include                use of position at the Company to obtain improper personal benefit                for                oneself, one’s family members or any other person, use of non-public                Company, client, or vendor information for personal gain, having                a                material financial interest in the Company’s vendors, clients or                competitors, and any business transaction between the Company and                oneself                or one’s family members. |
|--------|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | Promptly                report any possible violations of the Company’s Code of Ethics or this                Code of Ethical Conduct to the Company’s Audit                Committee. |
|--------|--------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | Discharge                supervisory responsibilities with respect to the Company’s disclosure                process diligently. |
|--------|--------|-----------------------------------------------------------------------------------------------------------------------------------------|

***Code      of Ethics***
***Code      of Ethical Conduct for U.S.B. Holding Co., Inc. Senior Financial Officers and      Principal Executive Officer***
***Code      of Ethical Conduct.***
***Code      of Ethical Conduct***

----