**SECURITIES
      AND EXCHANGE COMMISSION**





**Washington,
      D.C.  20549**








**FORM
      8-K**








**CURRENT
      REPORT**











Pursuant
      to Section 13 or 15(d) of


the
      Securities Exchange Act of 1934





Date
      of
      Report (Date of earliest event reported)  July 19,
      2007





**SOMERSET
      HILLS BANCORP**


(Exact
      name of registrant as specified in its charter)





**New
                Jersey**
            **000-50055**
            **22-3768777**(State
                or other jurisdiction
            (Commission
            (IRS
                Employerof
                incorporation)
            File
                Number)
            Identification
                No





**155
                Morristown Road****Bernardsville,
                New Jersey**
            **07924**(Address
                of principal executive offices)
            (Zip
                Code)








Registrant's
      telephone number, including area code  (908)
      221-0100




















Item
      2.02. Results
      of Operations and Financial Condition.





The
      information in this section, including the information contained in the press
      release included as Exhibit 99.1 hereto, is being furnished pursuant to this
      Item 2.02 and shall not deemed to be “filed” for purposes of Section 18 of the
      Securities Exchange Act of 1934, as amended, or otherwise subject to the
      liabilities of that Section.  In addition, this information shall not
      be deemed to be incorporated by reference into any of the Registrant’s filings
      with the Securities and Exchange Commission, except as shall be expressly set
      forth by specific reference in any such filing.





On
      July 23, 2007, the Registrant issued
      a press release announcing its operating results for the six months ended June
      30, 2007.  A copy of the July 23, 2007 press release is included as
      Exhibit 99.1 hereto.











Item
      5.02. Departure
      of Directors or Certain Officers, Election of Directors; Appointment of Certain
      Officers; Compensation Arrangements of Certain Officers.





(e)           On
      July 19, 2007, the Human Resources Committee of the Board of Directors (the
      “Board”) of Somerset Hills Bancorp (the “Company”) and its subsidiary Somerset
      Hills Bank (the “Bank”) approved Supplemental Executive Retirement Plans (the
“SERPs”) between the Bank and each of Stewart E. McClure, Jr., President and
      Chief Executive Officer, and Gerard Riker, Chief Financial
      Officer.  The Board had previously approved the terms of the
      SERPs.  Under the terms of the SERPs, each of Messrs. McClure and
      Riker will receive benefit payments for 15 years.  Mr. McClure’s
      benefit is $48,000 per year and Mr. Riker’s is $24,000 per
      year.  Unless accelerated, payments begin on a participant’s normal
      retirement date, which is age 65 for Mr. McClure and age 72 for Mr.
      Riker.  Payments may be accelerated upon the death of the participant
      prior to his retirement or if the participant is terminated without
      cause.  In the event of a Change in Control (defined in the SERPs as
      permitted under Section 409A of the Internal Revenue Code) followed by
      termination of the participant’s employment within 42 months for any reason, the
      participant is automatically 100% vested in all benefits under the SERP and
      the
      Bank or its successor is required to purchase a single-premium annuity for
      the
      benefit of the participant in an amount required to pay for the benefits under
      the SERP.





Item
      9.01   Financial Statements and Exhibits.





(c)
            Exhibits.





Exhibit
                Number
            Description99.1
            Press
                Release dated July 23, 2007 regarding the Registrant’s operating results
                for the six months ended June 30, 2007.


2





**SIGNATURES**





Pursuant
      to the requirements of the Securities Exchange Act of 1934, Somerset Hills
      Bancorp, has duly caused this report to be signed on its behalf by the
      undersigned thereunto duly authorized.








**SOMERSET
                HILLS BANCORP**(Registrant)Dated:
                July 23, 2007
            By:
            s/  Gerard
                Riker**GERARD
                RIKER**Executive
                Vice Presidentand
                Chief Financial Officer


3


**EXHIBIT
      INDEX**





**CURRENT
      REPORT ON FORM 8-K**








Exhibit
                Number
            Description
            Page99.1
            Press
                Release dated July 23, 2007 regarding the Registrant’s operating results
                for the six months ended June 30, 2007.
            5











4