UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549

                                   FORM 10-QSB

(Mark One)

[X]  QUARTERLY  REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES  EXCHANGE ACT
     OF 1934

     For the quarterly period ended     March 31, 2006
                                        --------------

                                       OR

[ ]  TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE EXCHANGE ACT

     For the transition period from  _________________ to  __________________

                         Commission file number 0-50969
                                                -------

                          ROEBLING FINANCIAL CORP, INC.
--------------------------------------------------------------------------------
        (Exact name of Small Business Issuer as specified in its charter)

     New Jersey                                                   55-0873295
--------------------------------------------------------------------------------
(State or other jurisdiction                                   (I.R.S. employer
of incorporation or organization)                            identification no.)

Route 130 South and Delaware Avenue, Roebling New Jersey              08554
--------------------------------------------------------------------------------
(Address of principal executive offices)

Issuer's telephone number, including area code  (609) 499-9400
                                                --------------

                                       N/A
--------------------------------------------------------------------------------
              (Former name, former address and former fiscal year,
                         if changed since last report.)

Check whether the Issuer 1) filed all reports required to be filed by Section 13
or 15(d) of the  Exchange  Act during  the last 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 shell company (as defined in
Rule 12b-2 of the Exchange Act). Yes      No X
                                     ---    ---

                      APPLICABLE ONLY TO CORPORATE ISSUERS:

     State the number of shares  outstanding of each of the issuer's  classes of
common equity, as of the latest practicable date: May 12, 2006

        Class                                                    Outstanding
---------------------------                                   ----------------
$.10 par value common stock                                   1,710,045 shares


     Transitional Small Business Disclosure format (check one)

                         Yes      No  X
                             ---     ---
<PAGE>

                          ROEBLING FINANCIAL CORP, INC.
                                   FORM 10-QSB
                      FOR THE QUARTER ENDED MARCH 31, 2006

                                      INDEX
<TABLE>
<CAPTION>

                                                                                                  Page
                                                                                                 Number
                                                                                                 ------
<S>                                                                                              <C>
PART I - FINANCIAL INFORMATION OF ROEBLING FINANCIAL CORP, INC.

Item 1.  Consolidated Financial Statements and Notes Thereto                                     1 - 9
Item 2.  Management's Discussion and Analysis of Financial
                  Condition and Results of Operations                                            10 - 13
Item 3.  Controls and Procedures                                                                  14

PART II - OTHER INFORMATION

Item 1.  Legal Proceedings                                                                        15
Item 2.  Unregistered Sales of Equity Securities and Use of Proceeds                              15
Item 3.  Defaults upon Senior Securities                                                          15
Item 4.  Submission of Matters to a Vote of Security Holders                                      15 - 16
Item 5.  Other Information                                                                        16
Item 6.  Exhibits                                                                                 16

SIGNATURES                                                                                        17
</TABLE>



<PAGE>

ROEBLING FINANCIAL CORP, INC. AND SUBSIDIARY
CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION

(Unaudited)

(In thousands, except share data)
<TABLE>
<CAPTION>
                                                                         March 31,  September 30,
                                                                           2006        2005
                                                                        ---------    ---------
<S>                                                                     <C>          <C>
ASSETS

Cash and due from banks                                                 $   2,155    $   2,428
Interest-bearing deposits                                                     286          647
                                                                        ---------    ---------
     Total cash and cash equivalents                                        2,441        3,075

Certificates of deposit                                                      --            300
Securities available for sale                                              26,179       27,160
Securities held to maturity                                                   464          557
Loans receivable, net                                                      82,703       76,551
Accrued interest receivable                                                   554          477
Federal Home Loan Bank of New York stock, at cost                             508          602
Premises and equipment                                                      2,819        2,766
Other assets                                                                  498          371
                                                                        ---------    ---------
     Total assets                                                       $ 116,166    $ 111,859
                                                                        =========    =========
LIABILITIES AND STOCKHOLDERS' EQUITY

LIABILITIES

Deposits                                                                $  91,017    $  84,856
Borrowed funds                                                              8,100       10,000
Advances from borrowers for taxes and insurance                               402          396
Other liabilities                                                             630          559
                                                                        ---------    ---------
     Total liabilities                                                    100,149       95,811
                                                                        ---------    ---------

STOCKHOLDERS' EQUITY

Serial preferred stock, $0.10 par value; 5,000,000 shares authorized;
  none issued                                                                  --           --
Common stock; $0.10 par value; 20,000,000 shares authorized;
  1,710,045 issued                                                            171          171
Additional paid-in-capital                                                 10,332       10,327
Unallocated employee stock ownership plan shares                             (660)        (698)
Unallocated restricted stock plan shares                                      (30)         (14)
Retained earnings - substantially restricted                                6,607        6,547
Accumulated other comprehensive income (loss) - unrealized loss
  on securities available for sale, net of tax                               (403)        (285)
                                                                        ---------    ---------
     Total stockholders' equity                                            16,017       16,048
                                                                        ---------    ---------

     Total liabilities and stockholders' equity                         $ 116,166    $ 111,859
                                                                        =========    =========
</TABLE>


See notes to unaudited consolidated financial statements.

                                       1
<PAGE>
ROEBLING FINANCIAL CORP, INC. AND SUBSIDIARY
CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME

(Unaudited)

(In thousands, except per share data)
<TABLE>
<CAPTION>
                                                                  For the Three Months Ended
                                                                          March 31,
                                                                 ---------------------------
                                                                    2006            2005
                                                                  -------          ------
<S>                                                               <C>             <C>
Interest income:
   Loans receivable                                               $ 1,315         $   978
   Securities                                                         242             265
   Other interest-earning assets                                       12              14
                                                                  -------          ------
        Total interest income                                       1,569           1,257
                                                                  -------          ------

Interest expense:
   Deposits                                                           390             236
   Borrowed funds                                                     100              52
                                                                  -------          ------
        Total interest expense                                        490             288
                                                                  -------          ------

Net interest income before provision for loan losses                1,079             969
Provision for loan losses                                              30              24
                                                                  -------          ------
        Net interest income after provision for loan losses         1,049             945
                                                                  -------          ------

Non-interest income:
   Loan fees and late charges                                          12              12
   Account servicing and other                                         97             100
   Gain on sale of loans                                                2               1
                                                                  -------          ------
        Total non-interest income                                     111             113
                                                                  -------          ------

Non-interest expense:
   Compensation and benefits                                          585             409
   Occupancy and equipment                                            141             117
   Service bureau and data processing                                 103              97
   Other expense                                                      198             158
                                                                  -------          ------
        Total non-interest expense                                  1,027             781
                                                                  -------          ------

        Income before provision for income taxes                      133             277
Provision for income taxes                                             62             124
                                                                  -------          ------

        Net income                                                     71             153

Other comprehensive income, net of tax:
   Unrealized loss on securities available for sale, net of tax       (50)           (228)
                                                                  -------          ------
Comprehensive income (loss)                                       $    21          $  (75)
                                                                  =======          ======
Earnings per common share:
  Basic                                                           $  0.04         $  0.10
  Diluted                                                         $  0.04         $  0.09

Weighted average number of shares outstanding:
  Basic                                                             1,631           1,605
  Diluted                                                           1,641           1,616
</TABLE>

See notes to unaudited consolidated financial statements.

                                       2
<PAGE>
ROEBLING FINANCIAL CORP, INC. AND SUBSIDIARY
CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME

(Unaudited)

(In thousands, except per share data)
<TABLE>
<CAPTION>
                                                                  For the Six Months Ended
                                                                         March 31,
                                                                  ------------------------
                                                                    2006            2005
                                                                  -------          ------
<S>                                                               <C>             <C>

Interest income:
   Loans receivable                                               $ 2,590         $ 1,909
   Securities                                                         488             515
   Other interest-earning assets                                       25              31
                                                                  -------          ------
        Total interest income                                       3,103           2,455
                                                                  -------          ------

Interest expense:
   Deposits                                                           741             462
   Borrowed funds                                                     207              84
                                                                  -------          ------
        Total interest expense                                        948             546
                                                                  -------          ------

Net interest income before provision for loan losses                2,155           1,909
Provision for loan losses                                              60              41
                                                                  -------          ------
        Net interest income after provision for loan losses         2,095           1,868
                                                                  -------          ------

Non-interest income:
   Loan fees and late charges                                          26              24
   Account servicing and other                                        194             205
   Gain on sale of loans                                                2               2
                                                                  -------          ------
        Total non-interest income                                     222             231
                                                                  -------          ------

Non-interest expense:
   Compensation and benefits                                        1,059             826
   Occupancy and equipment                                            273             195
   Service bureau and data processing                                 208             196
   Other expense                                                      378             309
                                                                  -------          ------
        Total non-interest expense                                  1,918           1,526
                                                                  -------          ------

        Income before provision for income taxes                      399             573
Provision for income taxes                                            176             251
                                                                  -------          ------
        Net income                                                    223             322

Other comprehensive income, net of tax:
   Unrealized loss on securities available for sale, net of tax      (118)           (345)
                                                                  -------          ------
Comprehensive income (loss)                                       $   105          $  (23)
                                                                  =======          ======

Earnings per common share:
  Basic                                                           $  0.14          $ 0.20
  Diluted                                                         $  0.14          $ 0.20

Weighted average number of shares outstanding:
  Basic                                                             1,630           1,601
  Diluted                                                           1,637           1,619
</TABLE>

See notes to unaudited consolidated financial statements.

                                       3
<PAGE>
ROEBLING FINANCIAL CORP, INC. AND SUBSIDIARY
CONSOLIDATED STATEMENT OF CHANGES IN STOCKHOLDERS' EQUITY

(Unaudited)

(In Thousands)
<TABLE>
<CAPTION>
                                                                                                     Accumulated
                                              Additional                                               Other
                                     Common    Paid-in      Unallocated  Unallocated    Retained    Comprehensive
                                     Stock     Capital      ESOP Shares   RSP Shares    Earnings    Income (Loss)   Total
                                     -----     -------      -----------   ----------    --------    -------------   -----
<S>                                   <C>        <C>             <C>            <C>         <C>           <C>       <C>
Balance at September 30, 2005         $171       $10,327         ($698)         ($14)       $6,547        ($285)    $16,048

Net income for the six months
  ended March 31, 2006                   -             -             -             -           223            -         223

Dividends paid on common stock           -             -             -             -          (163)           -        (163)

Amortization of ESOP shares              -             6            38             -             -            -          44

Change in unrealized gain (loss)
  on securities available for sale,
  net of income taxes                    -             -             -             -             -         (118)       (118)

Common stock acquired by RSP             -            (1)            -           (23)            -            -         (24)

Allocation of RSP shares                 -             -             -             7             -            -           7
                                      ----       -------         -----          ----        ------        -----     -------
Balance at March 31, 2006             $171       $10,332         ($660)         ($30)       $6,607        ($403)    $16,017
                                      ====       =======         =====          ====        ======        =====     =======
</TABLE>

See notes to unaudited consolidated financial statements.

                                       4
<PAGE>
ROEBLING FINANCIAL CORP, INC. AND SUBSIDIARY
CONSOLIDATED STATEMENTS OF CASH FLOWS

(Unaudited)

(In Thousands)
<TABLE>
<CAPTION>

                                                                          For the Six Months Ended
                                                                                  March 31,
                                                                          ------------------------
                                                                            2006            2005
                                                                          -------         -------
<S>                                                                       <C>             <C>
Cash flows from operating activities:
   Net income                                                             $   223         $   322
   Adjustments to reconcile net income to cash provided by
     operating activities:
         Depreciation                                                         136              80
         Amortization of premiums and discounts, net                            6               7
         Amortization of deferred loan fees and costs, net                    (25)              7
         Provision for loan losses                                             60              41
         Originations of loans held for sale, net of repayments            (1,084)           (602)
         Gain on sale of loans                                                 (2)             (2)
         Proceeds from sale of loans held for sale                          1,086             752
         (Increase) decrease in other assets                                  (49)             99
         Increase in accrued interest receivable                              (77)            (85)
         Increase (decrease) in other liabilities                              71            (151)
         Expense of ESOP and RSP                                               51              48
                                                                          -------         -------
                   Net cash provided by operating activities                  396             516
                                                                          -------         -------

Cash flows from investing activities:
    Proceeds from maturities of certificates of deposit                       300             700
    Purchase of securities available for sale                                  --          (8,756)
    Proceeds from payments and maturities of securities
       available for sale                                                     779           3,516
    Proceeds from payments and maturities of securities
       held to matuturity                                                      93             275
    Loan originations, net of principal repayments                         (6,187)         (5,330)
   (Purchase) redemption of Federal Home Loan Bank stock, net                  94              --
    Purchase of premises and equipment                                       (189)           (394)
                                                                          -------         -------
                   Net cash used in investing activities                   (5,110)         (9,989)
                                                                          -------         -------

Cash flows from financing activities:
    Net increase in deposits                                                6,161             990
    Net (decrease) increase in short-term borrowed funds                   (1,900)          2,100
    Proceeds from long-term borrowed funds                                     --           5,000
    Increase (decrease) in advance payments by borrowers
       for taxes and insurance                                                  6             (10)
    Dividends paid                                                           (163)             --
    Purchase of common shares by RSP                                          (24)            (21)
    Proceeds from exercise of stock options                                    --              81
                                                                          -------         -------
                   Net cash provided by financing activities                4,080           8,140
                                                                          -------         -------


    Net decrease in cash and cash equivalents                                (634)         (1,333)
    Cash and cash equivalents at beginning of period                        3,075           3,697
                                                                          -------         -------
    Cash and cash equivalents at end of period                            $ 2,441         $ 2,364
                                                                          =======         =======
Supplemental Disclosures of Cash Flow Information:
    Cash paid for:
        Interest on deposits and borrowed funds                           $   946         $   544
        Income taxes                                                          250             154
</TABLE>

See notes to unaudited consolidated financial statements.

                                       5
<PAGE>

                          ROEBLING FINANCIAL CORP, INC.
              NOTES TO UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS

NOTE 1 - BASIS OF PRESENTATION

The  accompanying   unaudited  consolidated  financial  statements  of  Roebling
Financial  Corp,  Inc. (the "Company") have been prepared in accordance with the
instructions  for  Form  10-QSB.  Accordingly,  they do not  include  all of the
information and footnotes required by generally accepted  accounting  principles
for complete financial statements.  However, such information presented reflects
all adjustments  (consisting solely of normal recurring  adjustments) which are,
in the opinion of the Company's  management,  necessary for a fair  statement of
results for the interim period.

The results of operations for the three and six months ended March 31, 2006, are
not  necessarily  indicative  of the results to be expected  for the year ending
September  30,  2006,  or  any  other  future  interim  period.   The  unaudited
consolidated   financial   statements  and  notes  thereto  should  be  read  in
conjunction with the audited financial statements and notes thereto for the year
ended September 30, 2005 included in the Company's Annual Report on Form 10-KSB.

NOTE 2 - EARNINGS PER SHARE

Basic  earnings  per share is computed by dividing  net income for the period by
the weighted average number of shares of common stock outstanding,  adjusted for
unearned shares of the Employee Stock Ownership Plan ("ESOP").  Diluted earnings
per share is computed by  adjusting  the  weighted  average  number of shares of
common stock  outstanding to include the effect of outstanding stock options and
compensation grants, if dilutive, using the treasury stock method.

The following is a summary of the Company's earnings per share calculations:
<TABLE>
<CAPTION>
                                       Three Months Ended March 31,       Six Months Ended March 31,
                                       ----------------------------       --------------------------
                                        2006             2005              2006             2005
                                        ----             ----              ----             ----
<S>                               <C>              <C>               <C>              <C>
Net income                          $   71,080       $  152,944        $  222,594       $  321,624
                                    ==========       ==========        ==========       ==========

Weighted average common shares
outstanding for computation of
basic EPS (1)                        1,631,122        1,604,991         1,629,978        1,601,207

Common-equivalent shares due
to the dilutive effect of stock
options and RSP awards                   9,427           11,490             7,485           17,673
                                    ----------       ----------        ----------       ----------

Weighted average common shares
for computation of diluted EPS       1,640,549        1,616,481         1,637,463        1,618,880
                                    ==========       ==========        ==========       ==========

Earnings per common share:
         Basic                            $.04             $.10              $.14             $.20
         Diluted                           .04              .09               .14              .20
</TABLE>

(1) Excludes unallocated ESOP shares

                                       6
<PAGE>

NOTE 3 - STOCK-BASED COMPENSATION

Stock Option Plan
-----------------

On January 25, 1999,  the  stockholders  of the Company  approved a stock option
plan (the "1999 Plan"),  while on January 30, 2006, the stockholders  ratified a
2006 Stock Option Plan (the "2006 Plan"),  collectively,  the "Plans". The Plans
authorize  the  issuance  of up to  an  additional  77,670  and  91,076  shares,
respectively,  of common stock by the Company upon the exercise of stock options
that may be awarded to officers,  directors,  key  employees,  and other persons
providing services to the Company.  Shares issued on the exercise of options may
be authorized but unissued  shares,  treasury  shares or shares  acquired on the
open market.  The options granted under the Plans  constitute  either  Incentive
Stock Options or Non-Incentive  Stock Options.  On January 30, 2006,  options to
purchase 54,642 shares were granted  pursuant to the 2006 Plan. Under this plan,
the options were granted at an exercise  price equal to the fair market value of
the Company's  common stock on the date of grant,  expire not more than 10 years
after the date of grant and are immediately exercisable.

The following  table  summarizes  the options  granted and the weighted  average
exercise price for the six months ended March 31, 2006


                                                              Weighted
                                                              Average
                                            Number            Exercise
                                           of Shares           Price
                                           ---------           -----
Outstanding September 30, 2005              14,642            $ 3.595

Granted                                     54,642             10.000
                                            ------            -------
Outstanding March 31, 2006                  69,284            $ 8.646
                                            ======            =======

Options exercisable March 31, 2006          69,284
                                            ======

The  Company  accounts  for these Plans under the  recognition  and  measurement
principles of Accounting  Principles Board Opinion No. 25,  Accounting for Stock
Issued to Employees, and related  interpretations.  No compensation cost related
to these Plans is  reflected  in net income,  as all options  granted  under the
Plans had an exercise price equal to the market value of the  underlying  common
stock on the grant  date.  The  following  table  illustrates  the effect on net
income  and  earnings  per  share if the  Company  had  applied  the fair  value
recognition provisions of Financial Accounting Standards Board Statement No. 123
("SFAS No. 123"), Accounting for Stock-Based Compensation, to the option grants.
<TABLE>
<CAPTION>

                                     Three Months Ended March 31,         Six Months Ended March 31,
                                     ----------------------------         --------------------------
                                        2006             2005              2006             2005
                                        ----             ----              ----             ----

<S>                                 <C>                <C>                <C>             <C>
Net income, as reported             $  71,080          $152,944           $222,594        $321,624

Deduct: Total stock-based
compensation expense
determined under fair value
based method for stock options,
net of related tax effects            125,365                 -           125,365                -
                                    ---------          --------          --------         --------
Pro forma net income (loss)         $ (54,285)         $152,944          $ 97,229         $321,624
                                    =========          ========          ========         ========
Earnings per common share:
   Basic - as reported                  $. 04              $.10              $.14             $.20
   Basic - pro forma                    $(.03)             $.10              $.06             $.20
   Diluted- as reported                 $. 04              $.09              $.14             $.20
   Diluted - pro forma                  $(.03)             $.09              $.06             $.20
</TABLE>

                                       7
<PAGE>

The  weighted  average  fair value of options  granted on January  30,  2006 was
$3.82.  The fair value of each option granted was estimated on the date of grant
using the Black-Scholes option pricing model with the following weighted-average
assumptions:  dividend yield of 1.00%; expected volatility of 40.23%;  risk-free
interest rate of 4.30%, and expected lives of 5 years.

Restricted Stock Plan
---------------------

On January 25, 1999, the stockholders of the Company approved a restricted stock
plan (the "1999 Plan"),  while on January 30, 2006, the stockholders  ratified a
2006 Restricted  Stock Plan (the "2006 Plan"),  collectively,  the "Plans".  The
Plans provide for the award of shares of restricted stock to directors, officers
and  employees.  The 1999 Plan and the 2006 Plan  provide  for the  purchase  of
31,066 and 36,430  shares of common  stock,  respectively  in the open market to
fund such  awards.  All of the Common  Stock to be purchased by the Plan will be
purchased  at the fair market  value on the date of  purchase.  Awards under the
Plan are made in recognition of expected  future  services to the Company by its
directors,  officers,  and key employees  responsible for  implementation of the
policies adopted by the Company's Board of Directors and as a means of providing
a further retention  incentive.  Under the 1999 Plan, 18,017 shares were awarded
in fiscal 1999 while 2,101 and 2,626  shares were awarded in fiscal 2005 and the
first six months of 2006,  respectively,  with a grant-date  fair value of $9.75
and $9.70 per share, respectively.  The awards vest 20% on the date of grant and
20% each of the next four years. On January 30, 2006, 13,110 shares were awarded
pursuant  to the 2006 Plan.  The awards vest 1/3 on the date of grant and 1/3 as
of each of the next two years. Compensation expense on Plan shares is recognized
over the vesting  periods  based on the market value of the stock on the date of
grant.  Recipients of awards  receive  compensation  payments equal to dividends
paid prior to the date of vesting within 30 days of each dividend  payment date.
Plan expense was approximately $53,000 and $59,000,  respectively, for the three
and six-month  periods  ended March 31, 2006,  compared to $1,000 and $4,000 for
the same 2005 periods.

Employee Stock Ownership Plan
-----------------------------

Effective  upon the  consummation  of the  Bank's  initial  stock  offering,  an
Employee  Stock  Ownership  Plan  ("ESOP")  was  established  for  all  eligible
employees who had completed a  twelve-month  period of employment  with the Bank
and at least 1,000 hours of service,  and had  attained  the age of 21. The ESOP
used  $156,800 in proceeds  from a term loan to purchase  62,149  shares of Bank
common  stock during the stock  offering.  In fiscal  2004,  the ESOP  purchased
72,861 shares of common stock in the second-step conversion with the proceeds of
a $776,000 loan from the Company,  which has a 10-year term and an interest rate
of 4.75%.  $47,000 of the  proceeds  were used to pay off the prior  outstanding
debt.

Shares purchased with the loan proceeds were initially pledged as collateral for
the  loans  and are held in a  suspense  account  for  future  allocation  among
participants.  Contributions  to the ESOP and shares  released from the suspense
account  are  in an  amount  proportional  to the  loan  repayment.  Shares  are
allocated among the participants on the basis of  compensation,  as described by
the Plan, in the year of allocation.

The ESOP is  accounted  for in  accordance  with  Statement  of  Position  93-6,
"Accounting  for  Employee  Stock  Ownership  Plans,"  which  was  issued by the
American   Institute  of  Certified   Public   Accountants   in  November  1993.
Accordingly,  the ESOP shares  pledged as collateral are reported as unallocated
ESOP shares in the statements of financial condition. As shares are committed to
be released from collateral,  the Bank reports compensation expense equal to the
current market price of the shares,  and the shares become outstanding for basic
net  income  per  common  share  computations.  ESOP  compensation  expense  was
approximately  $23,000 and $45,000,  respectively,  for the three and  six-month
periods ended March 31, 2006,  compared to $22,000 and $44,000 for the same 2005
periods.

NOTE 4 - RECENT ACCOUNTING PRONOUNCEMENTS

Accounting for Stock-Based  Payments: In December 2004, the FASB issued SFAS No.
123 (revised),  "Share-Based  Payment." SFAS No. 123 (revised) replaces SFAS No.
123 and  supersedes  APB  Opinion  No.  25.  SFAS  No.  123  (revised)  requires
compensation costs related to share-based payment  transactions to be recognized
in the financial statements over the period that an employee provides service in
exchange for the award.  Public companies are

                                       8
<PAGE>


required to adopt the new standard using a modified  prospective  method and may
elect to restate prior periods using the modified  retrospective  method.  Under
the modified  prospective method,  companies are required to record compensation
cost for new and modified  awards over the related vesting period of such awards
prospectively  and  record  compensation  cost  prospectively  for the  unvested
portion at the date of adoption,  of previously  issued and  outstanding  awards
over the  remaining  vesting  period of such awards.  No change to prior periods
presented is permitted under the modified prospective method. Under the modified
retrospective  method,  companies  record  compensation  costs for prior periods
retroactively  through  restatement  of such  periods  using the exact pro forma
amounts disclosed in the companies'  footnotes.  Also, in the period of adoption
and after,  companies record compensation cost based on the modified prospective
method.

On April 14, 2005, the Securities and Exchange  Commission (the "SEC") adopted a
new rule that amends the compliance dates for SFAS No. 123 (revised).  Under the
new rule,  the Company is required to adopt SFAS No. 123  (revised) in the first
annual period beginning after December 15, 2005.  Early  application of SFAS No.
123  (revised) is  encouraged,  but not  required.  Accordingly,  the Company is
required  to record  compensation  expense  for all new awards  granted  and any
awards modified after October 1, 2006. In addition,  the transition  rules under
SFAS No. 123 (revised) will require that, for all awards  outstanding at October
1, 2006, for which the requisite service has not yet been rendered, compensation
cost will be recorded as such service is rendered after October 1, 2006.

The  pronouncement  related to stock-based  payments will not have any effect on
our existing  historical  consolidated  financial  statements and restatement of
previously reported periods will not be required.

                                       9
<PAGE>
                          ROEBLING FINANCIAL CORP, INC.
                     MANAGEMENT'S DISCUSSION AND ANALYSIS OF
                  FINANCIAL CONDITION AND RESULTS OF OPERATIONS
                  ---------------------------------------------


GENERAL

         The Private  Securities  Litigation  Reform Act of 1995  contains  safe
harbor  provisions  regarding  forward-looking  statements.  When  used  in this
discussion, the words "believes", "anticipates",  "contemplates", "expects", and
similar expressions are intended to identify  forward-looking  statements.  Such
statements  are  subject to certain  risks and  uncertainties  which could cause
actual  results to differ  materially  from  those  projected.  Those  risks and
uncertainties  include changes in interest  rates,  the ability to control costs
and expenses, new legislation and regulations, and general economic conditions.

         On  September  30,  2004,  Roebling  Financial  Corp.,  MHC (the "MHC")
completed its  reorganization  into stock form and the Company  succeeded to the
business of the MHC's former federal mid-tier holding company  subsidiary.  Each
outstanding  share of common stock of the former  mid-tier  holding  company was
converted  into 3.9636  shares of common  stock of the  Company.  As part of the
transaction, the Company sold a total of 910,764 shares to the public at $10 per
share,  including  72,861  shares  purchased  by the  Company's  employee  stock
ownership plan with funds borrowed from the Company.  The Company's  business is
conducted  primarily  through its  wholly-owned  subsidiary,  Roebling Bank (the
"Bank").  References  to the  Company or  Registrant  refer to the  consolidated
entity which includes the main operating  company,  the Bank, unless the context
indicates otherwise.

OVERVIEW

         At  March  31,  2006,  the  Company  had  total  assets,  deposits  and
stockholders'  equity of  $116.2  million,  $91.0  million  and  $16.0  million,
respectively.  For the three months ended March 31, 2006,  the Company  reported
net income of $71,000, or $.04 per diluted share,  compared to $153,000, or $.09
per diluted  share,  for the same period in 2005. For the six months ended March
31,  2006,  the Company  reported  net income of  $223,000,  or $.14 per diluted
share,  compared to $322,000,  or $.20 per diluted share, for the same period in
2005.

CHANGES IN FINANCIAL CONDITION

         Total assets  increased by $4.3 million to $116.2  million at March 31,
2006,  from $111.9  million at  September  30,  2005.  This  increase is largely
attributable to a $6.2 million increase in the loans receivable, net, portfolio.
Other  changes  include a $1.1  million  decrease in  investment  securities,  a
$300,000 decrease in certificates of deposit and a $600,000 decrease in cash and
cash equivalents.  Loans receivable,  net increased by 8.0%, to $82.7 million at
March 31, 2006 from $76.5  million at September  30,  2005.  The majority of the
change in loans receivable,  net was attributable to an increase of $3.9 million
in the  construction  loan portfolio and an increase of $1.3 million in the home
equity  loan  portfolio.   In  addition,  the  one-to-four  family  residential,
multifamily and commercial  loan  portfolios  increased a total of $1.2 million.
Deposits increased by $6.1 million,  or 7.3%, to $91.0 million at March 31, 2006
from $84.9  million at September  30,  2005.  Borrowed  funds  decreased by $1.9
million  during the same  period,  to $8.1  million at March 31, 2006 from $10.0
million  at  September  30,  2005,  with  all  of  the  decrease  in  short-term
borrowings.

RESULTS OF OPERATIONS

         Net Interest  Income.  For the  three-months  ended March 31, 2006, the
Company  reported  net  interest  income  before  provision  for loan  losses of
$1,079,000,  which  represents  an  increase  of $110,000 or 11.4% over the same
period  in 2005.  The  increase  in net  interest  income  was the  result of an
increase  in interest  income of  $312,000,  partially  offset by an increase in
interest  expense of $202,000.  The interest rate spread was 3.38% for the three
months  ended March 31, 2006  compared to 3.55% for the three months ended March
31, 2005,  while the net interest  margin was 3.90% for the 2006 period compared
to 3.94% for the 2005 period. For the six-month period ended March 31, 2006, the
Company  reported  net  interest  income  before  provision  for loan  losses of
$2,155,000,  compared to $1,909,000  for the six months ended March 31, 2005, an
increase of $246,000,  or 12.9%.  The interest

                                       10
<PAGE>
rate spread was 3.40% for the six months ended March 31, 2006  compared to 3.54%
for the six months  ended  March 31,  2005,  while the net  interest  margin was
unchanged  at 3.91% for the same  periods.  After a period of  historically  low
interest rates,  the Federal Reserve began  tightening  monetary policy in June,
2004, and has increased the Federal Funds rate fifteen times, by 25 basis points
each time,  since then.  The yield curve has  flattened in that time period,  as
short-term  rates  have  risen,  but  long-term  rates have  actually  declined.
Reflecting  the  current  rate  environment,  the  Company's  spread  compressed
slightly,  as the overall cost of funds increased by more than the average yield
on total interest-earning  assets. The margin,  however,  decreased only 4 basis
points for the three  months  ended  March 31,  2006  compared  to the same 2005
period,  and remained  unchanged  for the six month periods ended March 31, 2006
and 2005,  reflecting the higher  percentage of loans to total  interest-earning
assets.

         The  average  balance  of total  interest-earning  assets for the three
months  ended March 31, 2006  increased  by $9.6  million  compared to the three
months ended March 31,  2005,  while the average  yield  increased to 5.73% from
5.11%.  The increase in total  interest  income of $312,000 for the three months
ended March 31, 2006 is comprised primarily of an increase in interest income of
$337,000 on loans receivable, offset by a decrease of $23,000 in interest income
on investment  securities.  Average loan receivable  balances increased by $13.5
million for the three  months  ended  March 31,  2006  compared to the same 2005
period,  while the average  yield  increased to 6.39% from 5.81%.  For the three
months  ended  March 31,  2006,  the average  balance of other  interest-earning
assets  decreased  by $3.9 million  compared to the same 2005 period,  while the
average yield increased to 3.74% from 3.59%.

         The average balance of total interest-earning assets for the six months
ended March 31, 2006 increased by $10.1 million compared to the six months ended
March 31,  2005,  while the average  yield  increased  to 5.66% from 5.02%.  The
increase in total interest income of $648,000 for the six months ended March 31,
2006 is  comprised  primarily  of an increase in interest  income of $681,000 on
loans  receivable,  offset  by a  decrease  of  $27,000  in  interest  income on
investment  securities.  Average  loan  receivable  balances  increased by $14.1
million  for the six  months  ended  March 31,  2006  compared  to the same 2005
period,  while the average  yield  increased  to 6.31% from  5.75%.  For the six
months  ended  March 31,  2006,  the average  balance of other  interest-earning
assets  decreased  by $4.0 million  compared to the same 2005 period,  while the
average yield increased to 3.74% from 3.47%.

         The average balance of interest-bearing  liabilities  increased by $9.6
million for the three months ended March 31, 2006  compared to same 2005 period,
while the average  cost  increased  to 2.34% from 1.56%.  The  increase in total
interest  expense of  $202,000  for the three  months  ended  March 31,  2006 is
comprised of a $154,000  increase in interest  expense on deposits and a $48,000
increase in interest  expense on borrowings.  Average  interest-bearing  deposit
balances increased by $5.9 million with an increase in the average cost to 2.10%
for the three months  ended March 31, 2006,  compared to 1.39% for the same 2005
period, while average borrowings increased by $3.7 million,  with an increase in
the average cost to 4.21% from 3.53%.

         For the six  months  ended  March 31,  2006,  the  average  balance  of
interest-bearing  liabilities  increased by $10.2 million  compared to same 2005
period,  while the average cost  increased to 2.26% from 1.48%.  The increase in
total  interest  expense of $402,000  for the six months ended March 31, 2006 is
comprised of a $279,000  increase in interest expense on deposits and a $123,000
increase in interest  expense on borrowings.  Average  interest-bearing  deposit
balances increased by $5.0 million with an increase in the average cost to 2.00%
for the six months  ended  March 31,  2006,  compared to 1.34% for the same 2005
period, while average borrowings increased by $5.2 million,  with an increase in
the average cost to 4.19% from 3.56%.

         Provision  for Loan Losses.  The  provision for loan losses was $30,000
and $60,000,  respectively,  for the three and six-month periods ended March 31,
2006, compared to $24,000 and $41,000 for the same periods in 2005. At March 31,
2006,  the allowance for loan losses was $631,000  (.76% of the loan  portfolio)
compared to $525,000 (.75% of the loan portfolio) at March 31, 2005.  Management
continually  monitors and adjusts the  allowance  for loan losses based upon its
analysis of the loan  portfolio.  This analysis  includes an evaluation of known
and inherent risks in the loan portfolio, past loss experience, current economic
conditions,  industry loss reserve levels,  adverse  situations which may affect
the  borrower,  the  estimated  value of any  underlying  collateral  and  other
relevant  factors.  However,  there can be no  assurance  that  additions to the
allowance for loan losses will not be required in future  periods or that actual
losses will not exceed estimated amounts.

                                       11
<PAGE>

         Non-interest  Income.   Non-interest  income  decreased  slightly,   to
$111,000  and  $222,000  for the  three and six  months  ended  March 31,  2006,
compared  to  $113,000  and  $231,000  for the same  periods  in 2005,  with the
increase  attributable  to a lower  amount of account  servicing  and other fees
collected.

         Non-interest  Expense.  Non-interest  expense  increased  $246,000,  or
31.5%,  to  $1,027,000  for the  three-month  period  ended  March 31,  2006 and
increased  $392,000,  or 25.7%, to $1,918,000 for the six months ended March 31,
2006, compared to the same periods in 2005, with the most significant  increases
in  compensation  and  benefits,  occupancy  and  equipment  and other  expense.
Compensation  and benefits  increased by $176,000 and $233,000 for the three and
six  months  ended  March  31,  2006  compared  to the same 2005  periods  while
occupancy and  equipment  increased by $24,000 and $78,000 for the three and six
months ended March 31, 2006 compared to the same 2005  periods.  The majority of
the increase in these  categories is  attributable  to the opening of the Bank's
newest facility in Westampton and the cost of new stock benefit plans.  The Bank
relocated  its  former  Loan  Center  office,  as well as  administrative  staff
formerly located in two other offices, to the Westampton facility in the quarter
ended  March  31,  2005,  and also  opened a retail  banking  center in the same
facility in the quarter ended  September  30, 2005.  This is an entry into a new
marketplace  for the Bank,  which we  anticipate  will enable us to increase our
deposit and lending base. Other expense increased by $40,000 and $69,000 for the
three and six months ended March 31, 2006 compared to the same 2005 periods. The
increase in other expense is largely  related to costs  associated  with being a
fully  public  company  as  well  as the  Westampton  facility,  with  increased
marketing and operating expenditures.

         We are currently in the process of  constructing  a new retail  banking
center in Delran which we anticipate  will open in the summer of 2006. This will
be the Bank's fifth retail location,  and will also be a new marketplace for us.
While we project that the  resulting  growth from these new branches will result
in increased  profitability  for the Company over the  long-term,  expenses will
rise in the short-term, with increases in occupancy and equipment,  compensation
and benefits  and other  expense.  There may also be  increased  expenses in the
future as a result of additional  awards that may be granted under the new stock
benefit plans and compliance with the Sarbanes-Oxley Act.

         Provision  for income taxes.  The provision for income taxes  decreased
$62,000 to $62,000  for the three  months  ended  March 31,  2006 and  decreased
$75,000 to $176,000  for the six months  ended March 31,  2006,  compared to the
2005  periods.  The  decrease in tax expense is  attributable  primarily  to the
decrease  in  pre-tax  earnings.  The  effective  tax rate,  however,  increased
slightly due to permanent book / tax differences.


LIQUIDITY AND REGULATORY CAPITAL COMPLIANCE

         On March 31, 2006, the Bank was in compliance with its three regulatory
capital requirements as follows:

(Dollars in thousands)
                                                          Amount       Percent
                                                          ------       -------

Tangible capital                                          $12,051      10.31%
Tangible capital requirement                                1,753       1.50%
                                                          -------      -----
Excess over requirement                                   $10,298       8.81%
                                                          =======      =====

Core capital                                              $12,051      10.31%
Core capital requirement                                    4,674       4.00%
                                                          -------      -----
Excess over requirement                                   $ 7,377       6.31%
                                                          =======      =====

Risk-based capital                                        $12,690      16.96%
Risk-based capital requirement                              5,985       8.00%
                                                          -------      -----
Excess over requirement                                   $ 6,705       8.96%
                                                          =======      =====


                                       12
<PAGE>

         The Company anticipates that it will have sufficient funds available to
meet its current  commitments.  As of March 31, 2006,  the Bank had  outstanding
commitments  to fund  loans of $8.5  million.  At March  31,  2006,  there  were
commitments on unused lines of credit of $7.8 million,  undisbursed construction
loans  of  $6.1  million  and  $119,000  in   outstanding   letters  of  credit.
Certificates of deposit  scheduled to mature in one year or less as of March 31,
2006,  totaled  $25.4  million.  Based on  historical  deposit  withdrawals  and
outflows,  and on internal  monthly  deposit  reports  monitored by  management,
management  believes  that a majority  of such  deposits  will  remain  with the
Company.


ADDITIONAL KEY OPERATING RATIOS
<TABLE>
<CAPTION>
                                                              At or for the Three Months
                                                                  Ended March 31,
                                                              ------------------------
                                                              2006(1)        2005(1)
                                                              -------        -------
<S>                                                          <C>          <C>
Earnings per common share (2):
    Basic                                                    $   0.04     $   0.10
    Diluted                                                  $   0.04     $   0.09
Return on average assets (1)                                      .25%         .59%
Return on average equity (1)                                     1.78%        3.90%
Interest rate spread (1)                                         3.38%        3.55%
Net interest margin (1)                                          3.90%        3.94%
Non-interest expense to average assets (1)                       3.54%        3.00%
Non-performing assets to total assets                             .05%         .05%
Non-performing loans to total loans                               .07%         .08%
<CAPTION>

                                                                   At  March 31,
                                                               -------------------
                                                               2006          2005
                                                               ----          ----

<S>                                                          <C>          <C>
Book value per share (3)                                     $   9.37     $   9.20
<FN>
___________
(1)      The ratios for the three-month periods presented are annualized.
(2)      The average number of shares  outstanding during the three months ended
         March 31, 2006, was 1,631,122 basic and 1,640,549 diluted.  The average
         number of shares  outstanding  during the three  months ended March 31,
         2005, was 1,604,991 basic and 1,616,481 diluted.
(3)      There were 1,710,045 shares outstanding as of March 31, 2006 and 2005
</FN>
</TABLE>
<TABLE>
<CAPTION>
                                                             For the Six Months Ended
                                                                    March 31,
                                                             ------------------------
                                                               2006(1)       2005(1)
                                                               -------       -------
<S>                                                          <C>          <C>
Earnings per common share (2):
    Basic                                                    $   0.14     $   0.20
    Diluted                                                  $   0.14     $   0.20
Return on average assets (1)                                      .39%         .63%
Return on average equity (1)                                     2.77%        4.11%
Interest rate spread (1)                                         3.40%        3.54%
Net interest margin (1)                                          3.91%        3.91%
Non-interest expense to average assets (1)                       3.32%        2.98%
<FN>
________
(1)      The ratios for the six-month periods presented are annualized.
(2)      The average  number of shares  outstanding  during the six months ended
         March 31, 2006, was 1,629,978 basic and 1,637,463 diluted.  The average
         number of shares  outstanding  during  the six months  ended  March 31,
         2005, was 1,601,207 basic and 1,618,880 diluted.
</FN>
</TABLE>


                                       13
<PAGE>

CONTROLS AND PROCEDURES
-----------------------

         (a)  Evaluation of disclosure  controls and  procedures.  The Company's
management  evaluated,  with the  participation of the Company's Chief Executive
Officer  and  Chief  Financial  Officer,  the  effectiveness  of  the  Company's
disclosure  controls and  procedures as of the end of the period covered by this
report. Based on this evaluation,  the Company's principal executive officer and
principal  financial  officer  have  concluded  that as of the end of the period
covered by this  Quarterly  Report on Form 10-QSB such  disclosure  controls and
procedures are effective to ensure that information  required to be disclosed by
the Company in reports that it files or submits  under the  Securities  Exchange
Act of 1934 is recorded,  processed,  summarized  and  reported  within the time
periods specified in Securities and Exchange Commission rules and forms.

         (b) Changes in internal  control over financial  reporting.  During the
period under report,  there was no change in the Company's internal control over
financial  reporting that has materially  affected,  or is reasonably  likely to
materially affect, the Company's internal control over financial reporting.


                                       14
<PAGE>

     ROEBLING FINANCIAL CORP, INC.

                                     PART II


ITEM 1.        LEGAL PROCEEDINGS

               There are various claims and lawsuits in which the company or the
               Bank are periodically involved,  such as claims to enforce liens,
               condemnation  proceedings  on  properties in which the Bank holds
               security interests,  claims involving the making and servicing of
               real  property  loans and other  issues  incident  to the  Bank's
               business.  In the  opinion of  management,  no  material  loss is
               expected from any of such pending claims or lawsuits.

ITEM 2.        UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS

               (a) Unregistered Sales of Equity Securities. Not Applicable

               (b) Use of Proceeds. Not Applicable

               (c) Issuer Purchases of Equity Securities.



<TABLE>
<CAPTION>
--------------------------------------------------------------------------------------------------------------------
                                                                   (c) Total Number       (d) Maximum Number
                                                                  Of Shares (or Units)  (or Approximate Dollar
                                                       (b)        Purchased as Part      Value) of Shares (or
                            (a) Total Number      Average Price    Of Publicly          Units) that May Yet Be
                            Of Shares (or         Paid per Share   Announced Plans       Purchased Under the
Period                      Units) Purchased        (or Unit)       or Programs*         Plans or Programs **
--------------------------------------------------------------------------------------------------------------------
<S>                           <C>                 <C>            <C>                         <C>
January 1 through 31               --               $   --               --                      132,604
--------------------------------------------------------------------------------------------------------------------
February 1 through 28           1,318                10.00            1,318                      131,286
--------------------------------------------------------------------------------------------------------------------
March 1 through 31              1,000                10.15            1,000                      130,286
--------------------------------------------------------------------------------------------------------------------
Total                           2,318               $10.06            2,318                      130,286
--------------------------------------------------------------------------------------------------------------------
</TABLE>
     *   Consists of open-market purchases by the Restricted Stock Plan Trust
     ** The Company  announced  the  repurchase  of up to  approximately  85,500
     shares on 12/13/05 and 47,000 shares for the RSP on 1/31/06.

ITEM 3.           DEFAULTS UPON SENIOR SECURITIES

                  Not applicable.

ITEM 4.           SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS

                  The Annual Meeting of  Stockholders of the Company was held on
                  January 30, 2006 and the following matters were voted upon:

                                       15
<PAGE>

                  Proposal I - Election of Directors for terms to expire in 2009

                                                     For               Withheld
                                                     ---               --------
                  John A. La Vecchia                 1,253,796         290,714
                  George N. Nyikita                  1,253,996         290,514

                  Proposal II - Ratification of 2006 Stock Option Plan

                    For              Against         Abstain           Non-Vote
                    ---              -------         -------           --------
                    753,857          428,201          3,481            358,971

                  Proposal III - Ratification of 2006 Restricted Stock Plan

                    For              Against         Abstain           Non-Vote
                    ---              -------         -------           --------
                    753,317          446,741          3,481            358,971

                  Proposal IV - Ratification  of Appointment of Accountants  for
                  the fiscal year ended September 30, 2006

                           For              Against           Abstain
                           ---              -------           -------
                           1,377,007        89,824            77,679

                  There were no broker non-votes on proposals I or IV.

ITEM 5.           OTHER INFORMATION

                  (a) Not applicable.
                  (b) Not applicable

ITEM 6.  EXHIBITS
<TABLE>
<CAPTION>
                  List of Exhibits:

                 <S>     <C>
                  3.1      Certificate of Incorporation*
                  3.2      Bylaws**
                  4.0      Form of Stock Certificate***
                  10.2     Directors' Retirement Plan***
                  10.3     Stock Option Plan****
                  10.4     Restricted Stock Plan****
                  10.5     Employment Agreement between Janice A. Summers and Roebling Bank***
                  10.6     Employment Agreement between Frank J. Travea, III and Roebling Bank***
                  10.7     Roebling Financial Corp, Inc. 2006 Stock Option Plan*****
                  10.8     Roebling Bank 2006 Restricted Stock Plan*****
                  31       Rule 13a-14(a)/15d-14(a) Certifications of Chief Executive Officer and Chief
                           Financial Officer
                  32       Section 1350 Certification
<FN>
__________________
*        Incorporated herein by reference to the Company's Form 8-A (File No. 0-59069) filed with the
         Commission on September 30, 2004.
**       Incorporated  herein by reference to the Company's Quarterly Report on
         Form 10-QSB for the quarter ended March 31, 2005.
***      Incorporated  herein  by  reference  to  the  Company's   Registration
         Statement on Form SB-2 (File No. 333-116312) filed with the Commission
         on June 9, 2004.
****     Incorporated herein by reference to Company's  Registration  Statement
         on Form S-8  (File No.  333-  119839)  filed  with the  Commission  on
         October 20, 2004.
*****    Incorporated  herein by reference to  Company's  Registration  Statement on
         Form S-8 (File No. 333- 132059)  filed with the  Commission on February 27, 2006.
</FN>

</TABLE>

                                       16
<PAGE>

                          ROEBLING FINANCIAL CORP, INC.

                                   SIGNATURES


In accordance with the  requirements of the Exchange Act, the registrant  caused
this  report to be  signed on its  behalf  by the  undersigned,  thereunto  duly
authorized.


                          ROEBLING FINANCIAL CORP, INC.


Date:  May 12, 2006       By: /s/ Frank J. Travea, III
                              --------------------------------------------------
                              Frank J. Travea, III
                              President and Chief Executive Officer
                              (Principal Executive Officer)

Date:  May 12, 2006       By: /s/ Frank J. Travea, III
                              --------------------------------------------------
                              Janice A. Summers
                              Senior Vice President, Chief Operating Officer and
                              Chief Financial Officer
                              (Principal Financial and Accounting Officer)

                                       17