~~UNITED STATES~~ 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): March 18, 2010~~

~~COLONIAL BANKSHARES~~WASHINGTON, ~~INC~~D.C. ~~(Exact Name of Registrant as Specified in Charter)~~20549

Federal	0-51385	90-0183739
(State or Other Jurisdiction)	(Commission File No.)	(I.R.S. Employer
Identification No.)		of Incorporation)

FORM 8-K

2745 S. Delsea Drive, Vineland, New Jersey				08360
(Address of Principal Executive Offices)			(Zip Code)

CURRENT REPORT

~~Registrant’s~~PURSUANT ~~telephone~~TO ~~number,~~SECTION ~~including~~13 ~~area~~OR ~~code:~~ 15(~~856~~D) ~~205-0058~~ OF

~~Not~~THE ~~Applicable~~SECURITIES ~~(Former~~EXCHANGE ~~name~~ACT orOF ~~former address, if changed since last report)~~1934

Date of Report (Date of earliest event reported): April 15, 2010

COLONIAL BANKSHARES, INC.

(Exact Name of Registrant as Specified in Charter)

Federal 0-51385 90-0183739

(State or Other Jurisdiction) (Commission File No.) (I.R.S. Employer

Identification No.) of Incorporation)

2745 S. Delsea Drive, Vineland, New Jersey 08360

(Address of Principal Executive Offices) (Zip Code)

Registrant's telephone number, including area code: (856) 205-0058

Not Applicable

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

o [ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

~~Item~~[ ] Soliciting ~~5.02.~~material ~~Departure~~pursuant ofto ~~Directors~~Rule or14a-12 ~~Certain~~under ~~Officers;~~the ~~Election~~Exchange ofAct ~~Directors;~~(17 ~~Appointment~~CFR ~~of Certain Officers; Compensatory Arrangements of Certain Officers~~240.14a-12)

~~(e) On March 18, 2010, the Board of Directors of Colonial Bank, FSB, the wholly~~[ ] Pre-~~owned subsidiary~~commencement ofcommunications ~~Colonial~~pursuant ~~Bankshares, Inc., approved the payment of discretionary bonuses~~ to ~~the~~Rule ~~following~~14d-2(b) ~~executive~~under ~~officers, who are~~ the ~~“Named~~Exchange ~~Executive Officers”~~Act ~~of Colonial Bankshares, Inc., in the following amounts:~~(17

	Name and Title	Amount
	Edward J. Geletka, President and	$19,581
	Chief Executive Officer
	L. Joseph Stella, III, Executive Vice President	$13,575
	and Chief Financial Officer
	William F. Whelan, Executive Vice President	$12,831
	and Chief Operations Officer

CFR 240.14d-2(b))

~~Item~~[ ] Pre-commencement ~~9.01.~~communications ~~Financial~~pursuant ~~Statements~~to ~~and~~Rule ~~Exhibits~~13e-4(c) under the Exchange Act (17

~~Not~~ CFR ~~applicable~~240.13e-4(c))

Item 5.03. Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year.

On April 15, 2010, the Board of Directors of Colonial Bankshares, Inc. (the “Registrant”) approved an amendment to Article II, Section 2 of the Registrant’s Bylaws to permit the Registrant to hold its 2010 annual meetings of stockholders within 188 days of the Registrant’s fiscal year end.

Item 9.01. Financial Statements and Exhibits.

(a)	Not Applicable.

(b)	Not Applicable.

(c)	Not Applicable.

(d)

Exhibits.

Exhibit No. Exhibit

3 Text of amendment to Bylaws

SIGNATURES

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

	COLONIAL BANKSHARES, INC.
DATE: March 19, 2010	By:	/s/ L. Joseph Stella, III
		L. Joseph Stella, III
		Executive Vice President and Chief Financial Officer

COLONIAL BANKSHARES, INC.

DATE: April 19, 2010	By: /s/ L. Joseph Stella, III
	L. Joseph Stella, III
	Executive Vice President and
	Chief Financial Officer

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