NORSTAR <NOR> TO BUY CALLICOON BANK Norstar Bancorp said it reached an agreement in principle to buy United National Bank of Callicoon through a stock exchange valued at 20 mln dlrs. Under terms of the agreement, Norstar would buy all 201,660 shares of United's common stock at a rate of three Norstar shares for each United share. With year-end assets of 90 mln dlrs, United has branches six upstate New York cities, all of which will become part of Norstar Bank of the Hudson Valley, N.A. Norstar is an 11.1 billion dlr multibank financial services company.