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 29, 1996


                         FIRST EMPIRE STATE CORPORATION
              ----------------------------------------------------
             (Exact name of registrant as specified in its charter)



                                    New York
                  --------------------------------------------
                 (State or other jurisdiction of incorporation)



               1-9861                                 16-0968385
            ----------------------       ----------------------------------
          (Commission File Number)       (I.R.S. Employer Identification No.)


         One M&T Plaza, Buffalo, New York                         14240
         ------------------------------------------           -------------
         (Address of principal executive offices)              (Zip Code)



        Registrant's telephone number, including area code:(716) 842-5445



                                (NOT APPLICABLE)
           -----------------------------------------------------------
          (Former name or former address, if changed since last report)










Item 5.  Other Events.

     First Empire State Corporation ("First Empire") announced on April 2, 1996
that the National Indemnity Company, the holder of all of the outstanding shares
of First Empire's 9% convertible preferred stock ("Preferred Stock"), had
converted those shares into 506,930 shares of First Empire common stock, par
value $5.00 per share ("Common Stock"), as of the close of business on March 29,
1996. Following the conversion, National Indemnity Company is the holder of
7.41% of the 6,844,923 shares of Common Stock outstanding as of April 1, 1996.

     National Indemnity Company, a subsidiary of Berkshire Hathaway, Inc., was
issued 40,000 shares of Preferred Stock on March 15, 1991 for $40 million. The
Preferred Stock was converted into shares of the Common Stock at a contractual
conversion price of $78.90625 per share.

     The news release issued by First Empire on April 2, 1996 to announce the
conversion of the Preferred Stock is set forth as Exhibit No. 99 hereto.

Item 7.  Financial Statements and Exhibits.

     The following exhibits are filed as a part of this report:

          Exhibit No.
          -----------
            
               99         News release.  Filed herewith.


                                   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.


                                                 FIRST EMPIRE STATE CORPORATION


Date: April 2, 1996                   By:        /s/ Richard A. Lammert
                                                 ----------------------
                                                 Richard A. Lammert
                                                 Senior Vice President, General
                                                 Counsel and Secretary






                                                     - 2 -







                       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





    Report Dated: March 29, 1996            Commission File Number: 1-9861
                  --------------                                    ------





                         FIRST EMPIRE STATE CORPORATION
             (Exact name of Registrant as specified in its charter)







                                    EXHIBITS





                                      - 3 -





                                  EXHIBIT INDEX




                                 Exhibit No. 99

                                  News release.





                                      - 4 -


                                                                 Exhibit No. 99
- --------------------------------------------------------------------------------

FIRST EMPIRE STATE CORPORATION ONE M&T PLAZA BUFFALO, NEW YORK 14240
NEWS RELEASE
- --------------------------------------------------------------------------------



CONTACT:  Gary S. Paul                                    FOR IMMEDIATE RELEASE
          (716) 842-5130                                  April 2, 1996



Buffalo,  N.Y. -- First Empire State  Corporation  ("First  Empire")  (AMEX:FES)
announced that National  Indemnity  Company,  a subsidiary of Berkshire Hathaway
Inc.,  the  holder  of  all of the  outstanding  shares  of  First  Empire's  9%
convertible preferred stock ("Preferred Stock"), has converted those shares into
506,930 shares of First Empire common stock ("Common  Stock") as of the close of
business on March 29, 1996. Following the conversion, National Indemnity Company
is the holder of 7.41% of the 6,844,923 shares of Common Stock outstanding.

National  Indemnity Company was issued 40,000 shares of Preferred Stock on March
15, 1991 for $40  million.  The  Preferred  Stock was  converted  into shares of
Common Stock at a contractual conversion price of $78.90625 per share.

First Empire is a $12 billion bank holding company headquartered in Buffalo, New
York. Its banking subsidiaries  include  Manufacturers and Traders Trust Company
(Buffalo,  New York),  The East New York Savings Bank (New York City,  New York)
and M&T Bank, National Association (Oakfield, New York).





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