<PAGE>

                                  UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                              WASHINGTON, DC 20549

                                    FORM 10-Q


/X/  QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE
     ACT OF 1934

For the quarterly period ended June 30, 2007

                                       OR

/_/  TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
     EXCHANGE ACT OF 1934

For the transition period from _________________ to ___________________

                           Commission File No. 0-50358
                                               -------

                          CLIFTON SAVINGS BANCORP, INC.
          ------------------------------------------------------------
             (Exact Name of Registrant as Specified in Its Charter)

         UNITED STATES                                        34-1983738
--------------------------------                        -----------------------
(State or Other Jurisdiction of                            (I.R.S. Employer
 Incorporation or Organization)                           Identification No.)

1433 VAN HOUTEN AVENUE, CLIFTON, NEW JERSEY                     07015
-------------------------------------------                 --------------
(Address of Principal Executive Offices)                      (Zip Code)

                                 (973) 473-2200
                                 --------------
              (Registrant's telephone number, including area code)



Indicate by check mark whether the registrant (1) has filed all reports required
to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during
the preceding 12 months (or for such shorter period that the registrant was
required to file such reports), and (2) has been subject to such filing
requirements for the past 90 days. Yes |X| No |_|

Indicate by check mark whether the registrant is a large accelerated filer, an
accelerated filer, or a non-accelerated filer. See definition of "accelerated
filer" and "large accelerated filer" in Rule 12b-2 of the Exchange Act. (Check
one)

Large Accelerated Filer |_|    Accelerated Filer |X|   Non-Accelerated Filer |_|

Indicate by check mark whether the registrant is a shell company (as defined in
Rule 12b-2 of the Exchange Act).  Yes|_| No |X|

The number of shares outstanding of each of the issuer's classes of common
stock, as of August 1, 2007: 28,350,922 shares outstanding.

<PAGE>
<TABLE>
<CAPTION>
                                            CLIFTON SAVINGS BANCORP, INC.
                                                  AND SUBSIDIARIES

                                                      INDEX

                                                                                                                  Page
PART I - FINANCIAL INFORMATION                                                                                   Number
                                                                                                              -------------
<S>                  <C>                                                                                      <C>
        Item 1:      Financial Statements

                     Consolidated Statements of Financial Condition (Unaudited)
                     at June 30, 2007 and March 31, 2007                                                           1

                     Consolidated Statements of Income (Unaudited) For the Three
                     Months Ended June 30, 2007 and 2006                                                           2

                     Consolidated Statements of Comprehensive Income (Unaudited) For the
                     Three Months Ended June 30, 2007 and 2006                                                     3

                     Consolidated Statements of Cash Flows (Unaudited) For the
                     Three Months Ended June 30, 2007 and 2006                                                   4 - 5

                     Notes to Consolidated Financial Statements                                                  6 - 8

        Item 2:      Management's Discussion and Analysis of
                     Financial Condition and Results of Operations                                               9 - 13

        Item 3:      Quantitative and Qualitative Disclosures About Market Risk                                 14 - 15

        Item 4:      Controls and Procedures                                                                       16


PART II - OTHER INFORMATION

         Item 1:     Legal Proceedings                                                                             17

         Item 1A:    Risk Factors                                                                                  17

         Item 2:     Unregistered Sales of Equity Securities and Use of Proceeds                                   17

         Item 3:     Defaults Upon Senior Securities                                                               18

         Item 4:     Submission of Matters to a Vote of Security Holders                                           18

         Item 5:     Other Information                                                                             18

         Item 6:     Exhibits                                                                                      19


SIGNATURES                                                                                                         20
</TABLE>


<PAGE>
<TABLE>
<CAPTION>
                                 CLIFTON SAVINGS BANCORP, INC. AND SUBSIDIARIES
                                 CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION
                                 ----------------------------------------------
                                                   (Unaudited)

                                                                                          June 30,             March 31,
ASSETS                                                                                      2007                 2007
------                                                                                ------------------   ------------------
<S>                                                                                   <C>                  <C>
Cash and due from banks                                                               $       6,508,542    $       4,332,311
Interest-bearing deposits in other banks                                                     34,640,744           36,772,918
                                                                                      ------------------   ------------------
         Total cash and cash equivalents                                                     41,149,286           41,105,229
Securities available for sale:
      Investment                                                                                      -            4,981,250
      Mortgage-backed                                                                        42,662,254           45,789,515
Securities held to maturity:
      Investment, estimated fair value of $148,660,000
         and $166,084,000, respectively                                                     149,990,189          164,989,209
      Mortgage-backed, estimated fair value of $107,924,000
         and $88,802,000, respectively                                                      110,759,192           90,100,052

Loans receivable                                                                            417,325,190          419,966,120
Allowance for loan losses                                                                    (1,350,000)          (1,350,000)
                                                                                      ------------------   ------------------
         Net loans                                                                          415,975,190          418,616,120
                                                                                      ------------------   ------------------

Bank owned life insurance                                                                    20,351,836           20,128,676
Premises and equipment                                                                        9,312,768            8,383,499
Federal Home Loan Bank of New York stock                                                      2,997,700            3,217,200
Interest receivable                                                                           4,167,096            4,439,300
Other assets                                                                                  3,640,122            3,291,825
                                                                                      ------------------   ------------------
         Total assets                                                                 $     801,005,633    $     805,041,875
                                                                                      ==================   ==================

LIABILITIES AND STOCKHOLDERS' EQUITY
------------------------------------

Liabilities:
      Deposits                                                                        $     571,445,886    $     567,458,772
      Advances from Federal Home Loan Bank of New York                                       41,442,142           45,346,481
      Advance payments by borrowers for taxes and insurance                                   4,330,782            4,109,109
      Other liabilities and accrued expenses                                                  2,853,124            3,529,869
                                                                                      ------------------   ------------------
         Total liabilities                                                                  620,071,934          620,444,231
                                                                                      ------------------   ------------------
Stockholders' equity:
      Preferred stock (par value $0.01), authorized 1,000,000
         shares; issued and outstanding - none                                                        -                    -
      Common stock (par value $0.01), authorized 75,000,000
         shares; 30,530,470 shares issued; 28,465,464 shares outstanding
         at June 30, 2007; 28,791,491 shares outstanding at
         March 31, 2007                                                                         305,305              305,305
      Paid-in capital                                                                       132,563,439          132,070,502
      Deferred compensation obligation under Rabbi Trust                                        154,583              145,845
      Retained earnings - substantially restricted                                           81,377,530           81,362,878
      Treasury stock, at cost; 2,065,006 shares at June 30, 2007
         and 1,738,979 shares at March 31, 2007                                             (23,538,430)         (19,639,198)
      Common stock acquired by Employee Stock Ownership Plan ("ESOP")                        (8,426,407)          (8,609,590)
      Accumulated other comprehensive loss                                                   (1,377,882)            (949,509)
      Stock held by Rabbi Trust                                                                (124,439)             (88,589)
                                                                                      ------------------   ------------------
         Total stockholders' equity                                                         180,933,699          184,597,644
                                                                                      ------------------   ------------------
         Total liabilities and stockholders' equity                                   $     801,005,633    $     805,041,875
                                                                                      ==================   ==================

</TABLE>

See notes to consolidated financial statements.

                                                      -1-

<PAGE>
<TABLE>
<CAPTION>
                                  CLIFTON SAVINGS BANCORP, INC. AND SUBSIDIARIES
                                        CONSOLIDATED STATEMENTS OF INCOME
                                        ---------------------------------
                                                   (Unaudited)
                                                                             Three Months Ended June 30,
                                                                       ----------------------------------------
                                                                              2007                  2006
                                                                       -------------------    -----------------
<S>                                                                     <C>                    <C>
Interest income:
      Loans                                                             $       5,445,493      $     5,273,754
      Mortgage-backed securities                                                1,666,144            1,848,194
      Investment securities                                                     1,796,308            1,798,586
      Other interest-earning assets                                               451,384              274,701
                                                                       -------------------    -----------------
              Total interest income                                             9,359,329            9,195,235
                                                                       -------------------    -----------------
Interest expense:
      Deposits                                                                  5,381,155            4,393,250
      Advances                                                                    415,331              523,399
                                                                       -------------------    -----------------
              Total interest expense                                            5,796,486            4,916,649
                                                                       -------------------    -----------------

Net interest income                                                             3,562,843            4,278,586
Provision for loan losses                                                               -               50,000
                                                                       -------------------    -----------------
Net interest income after provision for loan losses                             3,562,843            4,228,586
                                                                       -------------------    -----------------

Non-interest income:
      Fees and service charges                                                     44,994               57,164
      Bank owned life insurance                                                   223,160                    -
      Other                                                                         4,550                6,848
                                                                       -------------------    -----------------
              Total non-interest income                                           272,704               64,012
                                                                       -------------------    -----------------

Non-interest expenses:
      Salaries and employee benefits                                            1,825,643            1,774,609
      Net occupancy expense of premises                                           241,708              229,122
      Equipment                                                                   218,319              237,048
      Directors' compensation                                                     265,411              298,680
      Legal                                                                        62,874               55,591
      Advertising                                                                  71,183               73,150
      Federal insurance premium                                                    18,045               18,525
      Other                                                                       392,177              374,738
                                                                       -------------------    -----------------
              Total non-interest expenses                                       3,095,360            3,061,463
                                                                       -------------------    -----------------

Income before income taxes                                                        740,187            1,231,135
Income taxes                                                                      178,000              460,000
                                                                       -------------------    -----------------
Net income                                                              $         562,187      $       771,135
                                                                       ===================    =================

Basic earnings per share                                                $            0.02      $          0.03
                                                                       ===================    =================
Diluted earnings per share                                              $            0.02      $          0.03
                                                                       ===================    =================

Dividends per common share                                              $            0.05      $          0.05
                                                                       ===================    =================

Weighted average number of common shares and common stock equivalents
  outstanding:
      Basic                                                                    27,427,388           28,663,273
                                                                       ===================    =================
      Diluted                                                                  27,648,526           28,699,251
                                                                       ===================    =================
</TABLE>
See notes to consolidated financial statements.
                                                      -2-

<PAGE>
<TABLE>
<CAPTION>


                         CLIFTON SAVINGS BANCORP, INC. AND SUBSIDIARIES
                         CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME
                         -----------------------------------------------
                                           (Unaudited)


                                                                             Three Months Ended June 30,
                                                                       ----------------------------------------
                                                                              2007                  2006
                                                                       -------------------    -----------------
<S>                                                                     <C>                    <C>
                                                                        $         562,187      $       771,135
                                                                       -------------------    -----------------
Net income

Other comprehensive (loss) income, net of income taxes:
      Gross unrealized holding (loss) on securities
        available for sale, net of tax benefit of $292,443
        and $150,777, respectively                                               (439,763)            (226,733)
      Benefit plans, net of tax benefit of $7,575
        and $-0-, respectively                                                     11,390                    -
                                                                       -------------------    -----------------
Other comprehensive (loss)                                                       (428,373)            (226,733)
                                                                       -------------------    -----------------
Comprehensive income                                                    $         133,814      $       544,402
                                                                       ===================    =================

</TABLE>

See notes to consolidated financial statements.


                                                      -3-

<PAGE>
<TABLE>
<CAPTION>

                                 CLIFTON SAVINGS BANCORP, INC. AND SUBSIDIARIES
                                      CONSOLIDATED STATEMENTS OF CASH FLOWS
                                      -------------------------------------
                                                   (Unaudited)

                                                                                           Three Months Ended June 30,
                                                                                        ----------------------------------
                                                                                             2007              2006
                                                                                        ----------------  ----------------
<S>                                                                                      <C>               <C>
Cash flows from operating activities:
     Net income                                                                          $      562,187    $      771,135
     Adjustments to reconcile net income to net cash provided by operating activities:
        Depreciation and amortization of premises and equipment                                 150,118           170,162
        Net amortization of deferred fees and costs, premiums and discounts                     154,004           150,725
        Provision for loan losses                                                                     -            50,000
        Decrease in interest receivable                                                         272,204           492,638
        Deferred income tax benefit                                                            (218,057)         (308,049)
        Decrease in other assets                                                                173,593           183,047
        (Decrease) in accrued interest payable                                                  (18,734)          (21,007)
        (Decrease) in other liabilities                                                        (658,010)         (445,474)
        (Increase) in cash surrender value of bank owned life insurance                        (223,160)                -
        ESOP shares committed to be released                                                    215,912           192,770
        Restricted stock expense                                                                266,180           296,556
        Stock option expense                                                                    171,050           190,318
        Increase in deferred compensation obligation under Rabbi Trust                            8,738             9,155
                                                                                        ----------------  ----------------
           Net cash provided by operating activities                                            856,025         1,731,976
                                                                                        ----------------  ----------------

Cash flows from investing activities: Proceeds from calls, maturities and
     repayments of:
        Investment securities available for sale                                              5,000,000        10,000,000
        Mortgage-backed securities available for sale                                         2,374,210         2,464,990
        Investment securities held to maturity                                               20,000,000        25,000,000
        Mortgage-backed securities held to maturity                                           8,945,903         9,936,383
     Redemptions of Federal Home Loan Bank of New York stock                                    219,500           174,100
     Purchases of:
        Investment securities held to maturity                                               (5,000,000)      (25,000,000)
        Mortgage-backed securities held to maturity                                         (29,742,997)                -
        Loan receivable                                                                      (5,461,010)                -
        Premises and equipment                                                               (1,079,387)                -
        Federal Home Loan Bank of New York stock                                                      -              (800)
     Net change in loans receivable                                                           8,087,005       (17,950,237)
                                                                                        ----------------  ----------------
           Net cash provided by investing activities                                          3,343,224         4,624,436
                                                                                        ----------------  ----------------

</TABLE>


See notes to consolidated financial statements.

                                                       -4-


<PAGE>
<TABLE>
<CAPTION>


                                 CLIFTON SAVINGS BANCORP, INC. AND SUBSIDIARIES
                                 CONSOLIDATED STATEMENTS OF CASH FLOWS (CONT'D)
                                 ----------------------------------------------
                                                   (Unaudited)



                                                                                           Three Months Ended June 30,
                                                                                        ----------------------------------
                                                                                             2007              2006
                                                                                        ----------------  ----------------
<S>                                                                                      <C>               <C>
Cash flows from financing activities:
     Net increase in deposits                                                            $    3,987,114    $    3,969,422
     Principal payments on advances from Federal Home Loan Bank of New York                  (3,904,339)       (3,868,672)
     Net increase in payments by borrowers for taxes and insurance                              221,673           353,425
     Dividends paid                                                                            (547,536)         (618,322)
     Purchase of treasury stock                                                              (3,933,044)       (4,597,741)
     Exercise of stock options                                                                        -            24,494
     Tax benefit from stock based compensation                                                   20,940            18,962
                                                                                        ----------------  ----------------
           Net cash (used in ) financing activities                                          (4,155,192)       (4,718,432)
                                                                                        ----------------  ----------------

Net increase in cash and cash equivalents                                                        44,057         1,637,980
Cash and cash equivalents - beginning                                                        41,105,229        22,623,028
                                                                                        ----------------  ----------------
Cash and cash equivalents - ending                                                       $   41,149,286    $   24,261,008
                                                                                        ================  ================
Supplemental information:
     Cash paid during the period for:
        Interest on deposits and borrowings                                              $    5,815,220    $    4,937,656
                                                                                        ================  ================
        Income taxes paid, net of refunds                                                $      722,590    $    1,297,607
                                                                                        ================  ================

</TABLE>



See notes to consolidated financial statements.


                                                       -5-

<PAGE>

                 CLIFTON SAVINGS BANCORP, INC. AND SUBSIDIARIES
                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
                   ------------------------------------------


1. PRINCIPLES OF CONSOLIDATION
------------------------------

The consolidated financial statements include the accounts of Clifton Savings
Bancorp, Inc. (the "Company"), the Company's wholly-owned subsidiary, Clifton
Savings Bank, S.L.A. (the "Bank") and the Bank's wholly-owned subsidiary, Botany
Inc. ("Botany"). The Company's business consists principally of investing in
securities and the operations of the Bank. Botany's business consists solely of
holding investment and mortgage-backed securities, and Botany is treated under
New Jersey tax law as a New Jersey investment company. All significant
intercompany accounts and transactions have been eliminated in consolidation.

2. BASIS OF PRESENTATION
------------------------

The accompanying unaudited consolidated financial statements were prepared in
accordance with instructions for Form 10-Q and Regulation S-X and do not include
information or footnotes necessary for a complete presentation of financial
condition, results of operations, or cash flows in conformity with generally
accepted accounting principles. However, in the opinion of management, all
adjustments (consisting of normal recurring adjustments) necessary for a fair
presentation of the consolidated financial statements have been included. The
results of operations for the three month period ended June 30, 2007 are not
necessarily indicative of the results which may be expected for the entire
fiscal year. These consolidated financial statements should be read in
conjunction with the Company's audited consolidated financial statements and
related notes thereto for the year ended March 31, 2007, which are included in
the Company's Annual Report on Form 10-K as filed with Securities and Exchange
Commission on June 13, 2007.

3. EARNINGS PER SHARE (EPS)
---------------------------

Basic EPS is based on the weighted average number of common shares actually
outstanding, and is adjusted for Employee Stock Ownership Plan ("ESOP") shares
not yet committed to be released, unvested restricted stock awards and deferred
compensation obligations required to be settled in shares of Company stock.
Diluted EPS reflects the potential dilution that could occur if securities or
other contracts to issue common stock, such as unvested restricted stock awards
and outstanding stock options, were exercised or converted into common stock or
resulted in the issuance of common stock that then shared in the earnings of the
Company. Diluted EPS is calculated by adjusting the weighted average number of
shares of common stock outstanding to include the effect of contracts or
securities exercisable (such as stock awards and options) or which could be
converted into common stock, if dilutive, using the treasury stock method. The
calculation of diluted EPS for the three months ended June 30, 2007 and 2006,
include incremental shares related to outstanding stock options and unvested
restricted stock awards of 154,853 and 66,285 and 27,982 and 7,996,
respectively. Shares issued and reacquired during any period are weighted for
the portion of the period they were outstanding.

4. DIVIDEND WAIVER
------------------

During the three months ended June 30, 2007 and 2006, respectively, Clifton MHC
("MHC"), the federally chartered mutual holding company of the Company, waived
its right, upon non-objection from the Office of Thrift Supervision ("OTS"), to
receive cash dividends of approximately $840,000 for both periods, on the shares
of Company common stock it owns.


                                      -6-
<PAGE>


                 CLIFTON SAVINGS BANCORP, INC. AND SUBSIDIARIES
                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
                   ------------------------------------------


5. STOCK REPURCHASE PLAN
------------------------

On March 1, 2007, the Company's Board of Directors authorized its fourth
repurchase of up to 615,000 shares of the Company's outstanding stock,
representing approximately 5% of the outstanding shares owned by entities other
than MHC. During the three months ended June 30, 2007, 329,313 shares were
repurchased under this plan at a total cost of $3.93 million or $11.94 per
share. The fourth repurchase program was completed on June 7, 2007. A total of
615,000 shares were purchased at a cost of approximately $7.30 million, or
$11.86 per share.

6. RETIREMENT PLAN-COMPONENTS OF NET PERIODIC PENSION COST
----------------------------------------------------------

Periodic pension expense for the director's and former President's retirement
plans were as follows:
                                                          Three Months
                                                         Ended June 30,
                                                  ------------------------------
                                                      2007             2006
                                                  --------------   -------------
                                                          (In Thousands)

Service cost                                      $          20    $          5
Interest cost                                                34              34
Amortization of past service cost                            22              22
Amortization of unrecognized net loss (gain)                 (3)              3
                                                  --------------   -------------
Net periodic benefit cost                         $          73    $         64
                                                  ==============   =============


7. RECENT ACCOUNTING PRONOUNCEMENTS
-----------------------------------

In September 2006, the Financial Accounting Standards Board ("FASB") issued SFAS
No. 157, "Fair Value Measurements," which defines fair value, establishes a
framework for measuring fair value under GAAP, and expands disclosures about
fair value measurements. SFAS No. 157 applies to other accounting pronouncements
that require or permit fair value measurements. The new guidance is effective
for financial statements issued for fiscal years beginning after November 15,
2007, and for interim periods within those fiscal years. We are currently
evaluating the potential impact, if any, of the adoption of SFAS No. 157 on our
consolidated financial position, results of operations, and cash flows.

In February 2007, the FASB issued SFAS No. 159, "The Fair Value Option for
Financial Assets and Financial Liabilities-Including an amendment of SFAS No.
115." SFAS No. 159 permits entities to choose to measure many financial
instruments and certain other items at fair value. Unrealized gains and losses
on items for which the fair value option has been elected will be recognized in
earnings at each subsequent reporting date. SFAS No. 159 is effective for fiscal
years beginning after November 15, 2007, with the opportunity to early adopt
SFAS No. 159 as of the beginning of a fiscal year that begins on or before
November 15, 2007, as long as certain additional conditions are met. We are
currently evaluating the potential impact, if any, of the adoption of SFAS No.
159 on our consolidated financial position, results of operations, and cash
flows.


                                      -7-

<PAGE>


                 CLIFTON SAVINGS BANCORP, INC. AND SUBSIDIARIES
                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
                   ------------------------------------------


7. RECENT ACCOUNTING PRONOUNCEMENTS (CONT'D)
--------------------------------------------

In March 2007, the FASB ratified EITF Issue No. 06-11, "Accounting for Income
Tax Benefits of Dividends on Share-Based Payment Awards." EITF 06-11 requires
companies to recognize the income tax benefit realized from dividends or
dividend equivalents that are charged to retained earnings and paid to employees
for nonvested equity-classified employee share-based payment awards as an
increase to additional paid-in capital. EITF 06-11 is effective for fiscal years
beginning after September 15, 2007. The Company does not expect EITF 06-11 will
have a material impact on its consolidated financial position, results of
operations and cash flows.

In March 2007, the FASB ratified EITF No. 06-10 "Accounting for Collateral
Assignment Split-Dollar Life Insurance Agreements". EITF 06-10 provides guidance
for determining a liability for the postretirement benefit obligation as well as
recognition and measurement of the associated asset on the basis of the terms of
the collateral assignment agreement. EITF 06-10 is effective for fiscal years
beginning after December 15, 2007. The Company does not expect EITF 06-10 will
have a material impact on its consolidated financial position, results of
operations and cash flows.





                                       -8-


<PAGE>
                 CLIFTON SAVINGS BANCORP, INC. AND SUBSIDIARIES
                                     ITEM 2:
                     MANAGEMENT'S DISCUSSION AND ANALYSIS OF
                  FINANCIAL CONDITION AND RESULTS OF OPERATIONS
                  ---------------------------------------------

FORWARD-LOOKING STATEMENTS

This Form 10-Q may include certain forward-looking statements based on current
management expectations. The Company's actual results could differ materially
from those management expectations. Factors that could cause future results to
vary from current management expectations include, but are not limited to,
general economic conditions, legislative and regulatory changes, monetary and
fiscal policies of the federal government, changes in tax policies, rates and
regulations of federal, state and local tax authorities, changes in interest
rates, deposit flows, the cost of funds, demand for loan products, demand for
financial services, competition, changes in the quality or composition of loan
and investment portfolios, changes in accounting principles, policies or
guidelines, and other economic, competitive, governmental and technological
factors affecting the Company's operations, markets, products, services and
prices. Further description of the risks and uncertainties to the business are
included in the Company's other filings with the Securities and Exchange
Commission.

OVERVIEW OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

The Company's results of operations depend primarily on its net interest income,
which is a direct result of the interest rate environment. Net interest income
is the difference between the interest income earned on interest-earning assets
and the interest paid on interest-bearing liabilities. It is a function of the
average balances of loans and securities versus deposits and borrowed funds
outstanding in any one period and the yields earned on those loans and
securities and the cost of those deposits and borrowed funds.

Interest-earning assets consist primarily of investment and mortgage-backed
securities and loans which comprised 37.9% and 51.9%, respectively, of total
assets at June 30, 2007, as compared to 38.0% and 52.0%, respectively, at March
31, 2007. Cash and cash equivalents remained the same at 5.1% of total assets at
June 30, and March 31, 2007. There were no significant changes in the balances
of interest- earning assets between periods.

Interest-bearing liabilities consist of deposits and borrowings from the Federal
Home Loan Bank of New York ("FHLB"). Deposits increased $3.9 million, or 0.7%
between March 31, 2007 and June 30, 2007, which was offset by a decrease in
borrowed funds of $3.9 million, or 8.6%. Long-term borrowings were repaid during
the period in accordance with their original terms.

Net interest income decreased $716,000 or 16.7%, during the three months ended
June 30, 2007, when compared with the same 2006 period. Such decrease was due to
a $879,000 increase in total interest expense which was partially offset by an
increase in total interest income of $164,000. Average interest-earning assets
decreased $51.5 million or 6.4%, while average interest-bearing liabilities
decreased $18.9 million or 3.0%. The $32.6 million decrease in average net
interest-earning assets was mainly attributable to a reduction in interest
earning mortgage-backed securities and investments. In addition to the decrease
in net interest-earning assets, there was a decline in interest rate spread to
1.12% from 1.40% as an increase of forty basis points in the yield earned on
interest-earning assets was not sufficient to offset a sixty-eight basis point
increase in the cost of interest-bearing liabilities.

Results of operations also depend, to a lesser extent, on non-interest income
generated, provision for loan losses recorded and non-interest expense incurred.
During the three months ended June 30, 2007, non-interest income increased
$209,000 or 326.6%, provision for loan losses decreased to $0 from $50,000 for
the same period in 2006, and non-interest expense increased $34,000 or 1.1%.

                                       -9-

<PAGE>


                 CLIFTON SAVINGS BANCORP, INC. AND SUBSIDIARIES
                     MANAGEMENT'S DISCUSSION AND ANALYSIS OF
                  FINANCIAL CONDITION AND RESULTS OF OPERATIONS
                  ---------------------------------------------


CHANGES IN FINANCIAL CONDITION

The Company's assets at June 30, 2007 totaled $801.0 million, which represents a
decrease of $4.0 million or 0.5% as compared with $805.0 million at March 31,
2007.

Cash and cash equivalents at June 30, 2007 remained the same from March 31, 2007
totaling $41.1 million at both dates.

Securities available for sale at June 30, 2007 decreased $8.1 million or 15.9%
to $42.7 million when compared with $50.8 million at March 31, 2007. The
decrease during the three months ended June 30, 2007, resulted primarily from
maturities and repayments totaling $7.4 million coupled with an increase in
unrealized losses of $732,000 on the portfolio.

Securities held to maturity at June 30, 2007 increased $5.7 million or 2.2% to
$260.8 million when compared with $255.1 million at March 31, 2007. The increase
during the three months ended June 30, 2007, resulted primarily from the
purchase of securities totaling $34.7 million, which were partially offset by
maturities and repayments totaling $28.9 million and reinvested into higher
yielding investments, loans and interest-bearing deposits.

Net loans at June 30, 2007 decreased $2.6 million or 0.6% to $416.0 million when
compared with $418.6 million at March 31, 2007. The decrease during the three
months ended June 30, 2007, resulted primarily from origination volume being
less than repayment levels.

Total liabilities decreased $300,000 or 0.05% to $620.1 million at June 30, 2007
from $620.4 at March 31, 2007. Deposits at June 30, 2007 increased $3.9 million
or 0.7% to $571.4 million when compared with $567.5 million at March 31, 2007.
Borrowings decreased $3.9 million or 8.6% to $41.4 million at June 30, 2007, as
compared with $45.3 million at March 31, 2007. $3.9 million in long-term
borrowings were repaid during the three months ended June 30, 2007 in accordance
with their original terms. At June 30, 2007, the remaining borrowings of $41.4
million have an average interest rate of 3.85%.

Stockholders' equity totaled $180.9 million and $184.6 million at June 30, 2007
and March 31, 2007, respectively. The decrease of $3.7 million, or 2.0%, for the
three months ended June 30, 2007, resulted primarily from the repurchase of
approximately 329,000 shares of Company common stock for $3.9 million, cash
dividends paid of $548,000, and a net increase in unrealized losses of $440,000
on the available for sale securities portfolios, partially offset by net income
of $562,000, ESOP shares committed to be released of $216,000, and $458,000 for
stock options and awards earned under the Equity Incentive Plan and related tax
benefits.

COMPARISON OF OPERATING RESULTS FOR THE THREE MONTHS ENDED JUNE 30, 2007 AND
2006

Net income decreased $209,000 or 27.1% to $562,000 for the three months ended
June 30, 2007 compared with $771,000 for the same 2006 period. The decrease in
net income during the 2007 period resulted primarily from increases in interest
expense and non-interest expense, partially offset by increases in interest
income and non-interest income, and decreases in provision for loan losses and
income taxes.

                                      -10-
<PAGE>
                 CLIFTON SAVINGS BANCORP, INC. AND SUBSIDIARIES
                     MANAGEMENT'S DISCUSSION AND ANALYSIS OF
                  FINANCIAL CONDITION AND RESULTS OF OPERATIONS
                  ---------------------------------------------

COMPARISON OF OPERATING RESULTS FOR THE THREE MONTHS ENDED JUNE 30, 2007 AND
2006 (CONT'D)

Interest income on loans increased by $171,000 or 3.2% to $5.445 million during
the three months ended June 30, 2007, when compared with $5.274 million for the
same 2006 period. The increase during the 2007 period resulted from an increase
of $5.9 million or 1.4% in the average balance of loans. The yield earned on the
loan portfolio increased to 5.21%, an increase of ten basis points, from 5.11%
when compared to the same period in 2006. Interest on mortgage-backed securities
decreased $182,000 or 9.8% to $1.666 million during the three months ended June
30, 2007, when compared with $1.848 million for the same 2006 period. The
decrease during the 2007 period resulted from a decrease of $24.7 million or
14.4% in the average balance of mortgage-backed securities outstanding which was
sufficient to offset an increase of twenty-three basis points in the yield
earned on mortgage-backed securities to 4.53% from 4.30%. Interest earned on
investment securities decreased by $2,000 or 0.11% to $1.796 million during the
three months ended June 30, 2007, when compared to $1.798 million during the
same 2006 period, due to a 103 basis point increase in yield to 4.56% from
3.53%, mostly offset by a decrease in the average balance by $46.2 million or
22.7%. Interest earned on other interest-earning assets increased by $176,000 or
64.0% to $451,000 during the three months ended June 30, 2007, when compared to
$275,000 during the same 2006 period primarily due to a $13.5 million or 63.5%
increase in the average balance, coupled with an increase of one basis point in
yield to 5.18% from 5.17%.

Interest expense on deposits increased $988,000 or 22.5% to $5.381 million
during the three months ended June 30, 2007, when compared to $4.393 million
during the same 2006 period. Such increase was primarily attributable to an
increase of seventy-four basis points in the cost of interest-bearing deposits
to 3.82% from 3.08%, partially offset by a decrease of $6.4 million or 1.1% in
the average balance of interest-bearing deposits. Interest expense on borrowed
money decreased $108,000 to $415,000 during the three months ended June 30, 2007
when compared with $523,000 during the same 2006 period. Such decrease was
primarily attributable to a decrease of $12.5 million or 22.4% in the average
balance of borrowings, partially offset by an increase of eight basis points in
the cost of borrowings to 3.83% from 3.75%.

Net interest income decreased $716,000 or 16.7% during the three months ended
June 30, 2007, to $3.563 million when compared to $4.279 million for the same
2006 period. Such decrease was due to a $879,000 increase in total interest
expense which more than offset an increase in total interest income of $164,000.
Average interest-earning assets decreased $51.5 million or 6.4% while average
interest-bearing liabilities decreased $18.9 million or 3.0%. The $32.6 million
decrease in average net interest-earning assets was mainly attributable to a
reduction in interest earning mortgage-backed securities and investments,
partially offset by increases in loans and cash balances. The $18.9 million
decrease in average interest-bearing liabilities consisted of a decrease of
$12.5 million in borrowings coupled with a decrease of $6.4 million in
interest-bearing deposits. Adding to the decreases in net interest-earning
assets and net interest-bearing liabilities was a decline in the interest rate
spread to 1.12% from 1.40%, due to an sixty-eight basis point increase in the
cost of interest-bearing liabilities which was partially offset by an increase
of forty basis points in the yield earned on interest-earning assets.

During the three months ended June 30, 2007 and 2006, the Bank provided $0 and
$50,000, respectively, as a provision for loan losses. The allowance for loan
losses is based on management's evaluation of the risk inherent in its loan
portfolio and gives due consideration to the changes in general market
conditions and in the nature and volume of the Bank's loan activity. The Bank
intends to continue to evaluate the need for a provision for loan losses based
on its periodic review of the loan portfolio and general market conditions. At
June 30, 2007 and March 31, 2007, the Bank's non-performing loans, which were

                                      -11-
<PAGE>


                 CLIFTON SAVINGS BANCORP, INC. AND SUBSIDIARIES
                     MANAGEMENT'S DISCUSSION AND ANALYSIS OF
                  FINANCIAL CONDITION AND RESULTS OF OPERATIONS
                  ---------------------------------------------

COMPARISON OF OPERATING RESULTS FOR THE THREE MONTHS ENDED JUNE 30, 2007 AND
2006 (CONT'D.)

delinquent ninety days or more, totaled $203,000 and $258,000 respectively,
remaining at or under 0.06% of total loans and assets at both period ends.
During the three months ended June 30, 2007 and 2006, the Bank did not charge
off any loans. The allowance for loan losses amounted to $1.35 million,
representing 0.32% of total loans, at both June 30, and March 31, 2007.

Non-interest income increased $209,000 or 326.6% to $273,000 during the three
months ended June 30, 2007 as compared to $64,000 for the same 2006 period, due
to the addition of $223,000 in income from bank owned life insurance. This
product was purchased in February 2007.

Non-interest expense increased by $34,000 or 1.1% to $3.095 million during the
three months ended June 30, 2007, when compared with $3.061 million during the
same 2006 period. The components of non-interest expenses which experienced the
most significant change were salaries and employee benefits, directors'
compensation, and miscellaneous expenses. Salaries and benefits expense
increased $51,000 or 2.9% and miscellaneous expenses increased by $17,000 or
4.7%, partially offset by a decrease of $33,000 or 11.1% in directors'
compensation.

Income taxes totaled $178,000 and $460,000 during the three months ended June
30, 2007 and 2006, respectively. The decrease during the 2007 period resulted
from a decrease in pre-tax income, coupled with an increase in tax-exempt income
from bank owned life insurance, which lowered the overall effective income tax
rate in 2007. The Company's effective income tax rate was 24.0% and 37.4% during
the three months ended June 30, 2007 and 2006, respectively.

LIQUIDITY AND CAPITAL RESOURCES

The Company maintains levels of liquid assets sufficient to ensure the Bank's
safe and sound operation. The Company adjusts its liquidity levels in order to
meet funding needs for deposit outflows, payment of real estate taxes from
escrow accounts on mortgage loans, repayment of borrowings, when applicable, and
loan funding commitments. The Company also adjusts its liquidity level as
appropriate to meet its asset/liability objectives. Liquid assets, which include
cash and cash equivalents and securities available for sale, totaled $83.8
million or 10.5% of total assets at June 30, 2007 as compared to $91.9 million
or 11.4% of total assets at March 31, 2007.

The Company's liquidity, represented by cash and cash equivalents, is a product
of its operating, investing and financing activities.

Cash was generated by operating activities during the three months ended June
30, 2007. The primary source of cash was net income. The Company declared and
paid a cash dividend during the three months ended June 30, 2007, totaling
$548,000. The dividend was paid on May 14, 2007.

The primary uses of investing activity are lending and the purchases of
securities. Net loans amounted to $416.0 million and $418.6 million at June 30
and March 31, 2007, respectively. Securities, including available for sale and
held to maturity issues, totaled $303.4 million and $305.9 million at June 30,
2007 and March 31, 2007, respectively. In addition to funding new loan
production through operating and financing activities, such activities were
funded by principal repayments and maturities on existing loans and securities.

                                      -12-

<PAGE>

                 CLIFTON SAVINGS BANCORP, INC. AND SUBSIDIARIES
                     MANAGEMENT'S DISCUSSION AND ANALYSIS OF
                  FINANCIAL CONDITION AND RESULTS OF OPERATIONS
                  ---------------------------------------------

LIQUIDITY AND CAPITAL RESOURCES (CONT'D)

Liquidity management is both a daily and long-term function of business
management. Excess liquidity is generally invested in short-term investments,
such as interest-bearing deposits. If the Bank requires funds beyond its ability
to generate them internally, the Bank can borrow funds up to approximately $79.4
million under a revolving overnight line of credit, and $79.4 million under a
one-month overnight repricing line of credit agreement with the FHLB. At June
30, 2007, advances from the FHLB amounted to $41.4 million.

The Bank anticipates that it will have sufficient funds available to meet its
current commitments. At June 30, 2007, the Bank had outstanding commitments to
originate loans, and fund customers' approved unused equity lines of credit,
aggregating $7.8 million. At June 30, 2007, the Bank also had an outstanding
commitment to purchase a $500,000 participation in a $1.6 million construction
loan, as well as $500,000 to participate a $1.6 million permanent loan. The
interest rate on the construction loan is adjustable at a rate of 2.25% over one
month LIBOR, while the permanent loan has an initial rate to be fixed at a
margin of 2.50% over the current U.S. Treasury Securities 10 years constant
maturity rate. Certificates of deposit scheduled to mature in one year or less
at June 30, 2007, totaled $341.7 million. Management believes that, based upon
its experience and the Bank's deposit flow history, a significant portion of
such deposits will remain with the Bank. FHLB advances scheduled to mature in
one year or less at June 30, 2007, totaled $18.7 million.

Under OTS regulations, three separate measurements of capital adequacy (the
"Capital Rule") are required. The Capital Rule requires each savings institution
to maintain tangible capital equal to at least 1.5% and core capital equal to
4.0% of its adjusted total assets. The Capital Rule further requires each
savings institution to maintain total capital equal to at least 8.0% of its
risk-weighted assets.

The following table sets forth the Bank's capital position at June 30, 2007, as
compared to the minimum regulatory capital requirements:

<TABLE>
<CAPTION>
                                                                                         OTS Requirements
                                                                      ------------------------------------------------------
                                                                           Minimum Capital          For Classification as
                                                 Actual                      Adequacy                  Well-Capitalized
                                        --------------------------    --------------------------   -------------------------
                                            Amount        Ratio          Amount         Ratio         Amount        Ratio
                                        ---------------  ---------    -------------   ----------   -------------  ----------
                                                                        (Dollars In Thousands)
<S>                                           <C>           <C>            <C>             <C>          <C>           <C>
     Total capital
        (to risk-weighted assets)             $146,080      46.81%         $24,968         8.00%        $31,210       10.00%
     Tier 1 capital
        (to risk-weighted assets)              144,730      46.37           12,484         4.00          18,726        6.00
     Core (tier 1) capital
        (to adjusted total assets)             144,730      18.24           31,744         4.00          39,680        5.00
     Tangible capital
        (to adjusted tangible assets)          144,730      18.24           11,904         1.50               -           -
</TABLE>


                                                           -13-



<PAGE>


                 CLIFTON SAVINGS BANCORP, INC. AND SUBSIDIARIES
                                     ITEM 3:
            QUANTITATIVE AND QUALITATIVE DISCLOSURE ABOUT MARKET RISK
            ---------------------------------------------------------

MANAGEMENT OF INTEREST RATE RISK. The ability to maximize net interest income is
largely dependent upon the achievement of a positive interest rate spread that
can be sustained during fluctuations in prevailing interest rates. Interest rate
sensitivity is a measure of the difference between amounts of interest-earning
assets and interest-bearing liabilities which either reprice or mature within a
given period of time. The difference, or the interest rate repricing "gap",
provides an indication of the extent to which an institution's interest rate
spread will be affected by changes in interest rates. A gap is considered
positive when the amount of interest-rate sensitive assets exceeds the amount of
interest-rate sensitive liabilities, and is considered negative when the amount
of interest rate sensitive liabilities exceeds the amount of interest-rate
sensitive assets. Generally, during a period of rising interest rates, a
negative gap within shorter maturities would adversely affect net interest
income, while a positive gap within shorter maturities would result in an
increase in net interest income, and during a period of falling interest rates,
a negative gap within shorter maturities would result in an increase in net
interest income while a positive gap within shorter maturities would result in a
decrease in net interest income.

Because the Bank's interest-bearing liabilities which mature or reprice within
short periods exceed its interest-earning assets with similar characteristics,
material and prolonged increases in interest rates generally would adversely
affect net interest income, while material and prolonged decreases in interest
rates generally would have a positive effect on net interest income.

The Bank's current investment strategy is to maintain an overall securities
portfolio that provides a source of liquidity and that contributes to the Bank's
overall profitability and asset mix within given quality and maturity
considerations. Securities classified as available for sale provide management
with the flexibility to make adjustments to the portfolio given changes in the
economic or interest rate environment, to fulfill unanticipated liquidity needs,
or to take advantage of alternative investment opportunities.

NET PORTFOLIO VALUE. The Bank's interest rate sensitivity is monitored by
management through the use of the OTS model which estimates the change in the
Bank's net portfolio value ("NPV") over a range of interest rate scenarios. NPV
is the present value of expected cash flows from assets, liabilities, and
off-balance sheet contracts.

The NPV ratio, under any interest rate scenario, is defined as the NPV in that
scenario divided by the market value of assets in the same scenario. The OTS
produces its analysis based upon data submitted on the Bank's quarterly Thrift
Financial Report. The following table sets forth the Bank's NPV as of March 31,
2007, the most recent date the Bank's NPV was calculated by the OTS. The Bank
expects that its NPV as of June 30, 2007 is consistent with the table below.

<TABLE>
<CAPTION>
                                                                             Net Portfolio Value as % of
                                     Net Portfolio Value                       Present Value of Assets
 Basis Points ("bp")    ---------------------------------------------  ---------------------------------------
   Change in Rates          $ Amount       $ Change       % Change        NPV Ratio            Change
----------------------  ---------------- -------------  -------------  ---------------  ----------------------
                                                 (Dollars in Thousands)
         <S>             <C>              <C>                 <C>            <C>                  <C>
         300 bp          $       97,715   $   (52,422)        (35)%          13.42 %              (557)bp
                        ---------------- -------------  -------------  ---------------  ----------------------
         200                    116,130       (34,007)        (23)           15.48                (350)
                        ---------------- -------------  -------------  ---------------  ----------------------
         100                    133,918       (16,218)        (11)           17.37                (162)
                        ---------------- -------------  -------------  ---------------  ----------------------
          0                     150,136             -           -            18.99                   -
                        ---------------- -------------  -------------  ---------------  ----------------------
        (100)                   161,899        11,762          +8            20.08                +109
                        ---------------- -------------  -------------  ---------------  ----------------------
        (200)                   168,426        18,290         +12            20.62                +163
                        ---------------- -------------  -------------  ---------------  ----------------------
</TABLE>


                                                      -14-


<PAGE>


                 CLIFTON SAVINGS BANCORP, INC. AND SUBSIDIARIES
            QUANTITATIVE AND QUALITATIVE DISCLOSURE ABOUT MARKET RISK
            ---------------------------------------------------------

NET PORTFOLIO VALUE (CONT'D.)

Certain shortcomings are inherent in the methodology used in the above interest
rate risk measurements. Modeling changes in NPV require the making of certain
assumptions which may or may not reflect the manner in which actual yields and
costs respond to changes in market interest rates. In this regard, the NPV model
presented assumes that the composition of the Bank's interest sensitive assets
and liabilities existing at the beginning of a period remains constant over the
period being measured and also assumes that a particular change in interest
rates is reflected uniformly across the yield curve regardless of the duration
to maturity or repricing of specific assets and liabilities. Accordingly,
although the NPV measurements and net interest income models provide an
indication of the Bank's interest rate risk exposure at a particular point in
time, such measurements are not intended to and do not provide a precise
forecast of the effect of changes in market interest rates on the Bank's net
interest income and will differ from actual results.






                                      -15-


<PAGE>


                 CLIFTON SAVINGS BANCORP, INC. AND SUBSIDIARIES
                                     ITEM 4:
                             CONTROLS AND PROCEDURES
      ---------------------------------------------------------------------



                  DISCLOSURE CONTROLS AND PROCEDURES. The Company's management,
         including the Company's principal executive officer and principal
         financial officer, have evaluated the effectiveness of the Company's
         "disclosure controls and procedures," as such term is defined in Rule
         13a-15(e) promulgated under the Securities Exchange Act of 1934, as
         amended, (the "Exchange Act"). Based upon their evaluation, the
         principal executive officer and principal financial officer concluded
         that, as of the end of the period covered by this report, the Company's
         disclosure controls and procedures were effective to ensure that
         information required to be disclosed in the reports that the Company
         files or submits under the Exchange Act with the Securities and
         Exchange Commission (the "SEC") (1) is recorded, processed, summarized
         and reported within the time periods specified in the SEC's rules and
         forms, and (2) is accumulated and communicated to the Company's
         management, including its principal executive and principal financial
         officers, as appropriate to allow timely decisions regarding required
         disclosure.

                  CHANGES IN INTERNAL CONTROL OVER FINANCIAL REPORTING. There
         were no changes in the Company's internal control over financial
         reporting that occurred during the three months ended June 30, 2007
         that have materially affected, or are reasonably likely to materially
         affect, the Company's internal control over financial reporting.





                                      -16-


<PAGE>
                 CLIFTON SAVINGS BANCORP, INC. AND SUBSIDIARIES

                                     PART II


ITEM 1.  Legal Proceedings
         -----------------

         Periodically, there have been various claims and lawsuits against the
         Company and Bank, such as claims to enforce liens, condemnation
         proceedings on properties in which we hold security interests, claims
         involving the making and servicing of real property loans and other
         issues incident to our business. We are not a party to any pending
         legal proceedings that we believe would have a material adverse effect
         on our consolidated financial condition, results of operations or cash
         flows.

ITEM 1A:  Risk Factors
          ------------

         In addition to the other information set forth in this report, you
         should carefully consider the factors discussed in Part I, "Item 1A.
         Risk Factors" in our Annual Report on Form 10-K for the year ended
         March 31, 2007, as filed with Securities and Exchange Commission on
         June 13, 2007, which could materially affect our business, financial
         condition or future results. As of June 30, 2007, the risk factors of
         the Company have not changed materially from those recorded in our
         Annual Report on Form 10-K. However, the risks described in our Annual
         Report on Form 10-K are not the only risks that we face. Additional
         risks and uncertainties not currently known to us or that we currently
         deem to be immaterial also may materially adversely affect our
         business, financial condition and/or operating results.

ITEM 2. Unregistered Sales of Equity Securities and Use of Proceeds
        -----------------------------------------------------------

         The following table sets forth information regarding the Company's
         repurchases of its common stock during the quarter ended June 30, 2007.
<TABLE>
<CAPTION>
                                                                              TOTAL NUMBER
                                                                                OF SHARES
                                                                                PURCHASED         MAXIMUM
                                                                               AS PART OF    NUMBER OF SHARES
                                                 TOTAL                          PUBLICLY      THAT MAY YET BE
                                               NUMBER OF       AVERAGE          ANNOUNCED     PURCHASED UNDER
                                                SHARES       PRICE PAID         PLANS OR       THE PLANS OR
                   PERIOD                    PURCHASED (1)    PER SHARE         PROGRAMS         PROGRAMS
                   ------                    -------------    ---------         --------         --------
              <S>                               <C>            <C>               <C>              <C>
              April 2007
              Beginning date: April 1           127,065        $12.03            127,065          202,248
              Ending date: April 30

              May 2007
              Beginning date: May 1             164,144        $11.91            164,144           38,104
              Ending date: May 31

              June 2007
              Beginning date: June 1             38,104        $11.78             38,104                0
              Ending date: June 30
</TABLE>
              ____________________
              (1) On March 1, 2007, the Company announced that the Board of
                  Directors had approved its fourth stock repurchase program
                  authorizing the Company to repurchase up to 615,000 shares of
                  the Company's common stock.

                                      -17-

<PAGE>


                 CLIFTON SAVINGS BANCORP, INC. AND SUBSIDIARIES

                                     PART II


ITEM 3. Defaults Upon Senior Securities
        -------------------------------

         None



ITEM 4. Submission of Matters to a Vote of Security Holders
        ---------------------------------------------------

         None.



ITEM 5. Other Information
        -----------------

         None.




                                      -18-



<PAGE>

                 CLIFTON SAVINGS BANCORP, INC. AND SUBSIDIARIES

                                     PART II
<TABLE>
<CAPTION>

ITEM 6. Exhibits
        --------

         The following Exhibits are filed as part of this report.
                  <S>    <C>
                  3.1    Certificate of Incorporation of Clifton Savings Bancorp, Inc.*
                  3.2    By-Laws of Clifton Savings Bancorp, Inc.*
                  4.1    Specimen Stock Certificate of Clifton Savings Bancorp, Inc. *
                  31.1   Certification of Chief Executive Officer Pursuant to Section 302 of the Sarbanes-
                         Oxley Act of 2002 (filed herewith).
                  31.2   Certification of Chief Financial Officer Pursuant to Section 302 of the Sarbanes-
                         Oxley Act of 2002 (filed herewith).
                  32.1   Certification of Chief Executive Officer and Chief Financial Officer Pursuant to 18
                         U.S.C. Section 1350, as Adopted Pursuant to Section 906 of the Sarbanes-Oxley
                         Act of 2002 (filed herewith).
</TABLE>
                  __________________________

                      *  Incorporated herein by reference to the Company's
                         Annual Report on Form 10-K for the fiscal year ended
                         March 31, 2004, filed with the Securities and Exchange
                         Commission on June 29, 2004 (File No. 000-50358).





                                      -19-



<PAGE>


                                   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, thereunto duly authorized.





                                   CLIFTON SAVINGS BANCORP, INC.


Date: August 7, 2007               By: /s/ John A. Celentano, Jr.
                                       -----------------------------------------
                                       John A. Celentano, Jr.
                                       Chairman of the Board and Chief Executive
                                       Officer
                                       (Principal Executive Officer)


Date: August 7, 2007               By: /s/ Christine R. Piano
                                       -----------------------------------------
                                       Christine R. Piano
                                       Chief Financial Officer and Treasurer
                                       (Principal Financial and Chief Accounting
                                       Officer)





                                      -20-