NORSTAR <NOR> SETS ACQUISITION FOR STOCK Norstar Bancorp said it has agreed in principle to acquire United National Bank of Callicoon, N.Y., by exchanging three Norstar common shares for each of the 201,660 United shares outstanding. Based on the recent price of Norstar's stock, it said, the proposed tax-free exchange would have a market value of about 20 mln dlrs. Norstar said the acquisition is subject to approval by United's holders and state and federal regulators. United has assets of 90 mln dlrs.