United States Securities and Exchange Commission
                             Washington, D. C. 20549

                                  FORM 10 - QSB
(Mark One)

[x]  Quarterly Report Pursuant to Section 13 or 15(d) of the Securities Exchange
     Act of 1934 for the quarterly period ended March 31, 2003.

[ ]  Transition  Report  Pursuant  to  Section  13 or  15(d)  of the  Securities
     Exchange Act of 1934

            For the transition period from __________ to ___________


                         Commission File Number: 0-28032


                             PATAPSCO BANCORP, INC.
        -----------------------------------------------------------------
        (Exact Name of Small Business Issuer as Specified in its Charter)


             MARYLAND                                          52-1951797
--------------------------------                           ------------------
(State or Other Jurisdiction of                            (I.R.S. Employer
 Incorporation or Organization)                            Identification No.)


              1301 MERRITT BOULEVARD, DUNDALK, MARYLAND 21222-2194
              ----------------------------------------------------
                    (Address of Principal Executive Offices)


                                 (410) 285-1010
               --------------------------------------------------
               Registrant's Telephone Number, Including Area Code


     Check  whether  the issuer (1) filed all  reports  required  to be filed by
Section 13 or 15(d) of the Exchange  Act 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
   ---     ---
The issuer has been subject to such filing requirements for the past 90 days.

     As of May 5, 2003, the issuer had 412,634 shares of Common Stock issued and
outstanding.

     Transitional Small Business Disclosure Format (check one):

         Yes                                No    X
              -------                          -------

<PAGE>

         CONTENTS
         --------
                                                                            PAGE
                                                                            ----
PART I.  FINANCIAL INFORMATION
         ---------------------


Item 1.  Financial Statements

         Consolidated Statements of Financial Condition at March 31, 2003
                   And June 30, 2002                                          3

         Consolidated Statements of Income for the Nine and Three-Month
                  Periods Ended March 31, 2003 and 2002                       4

         Consolidated Statements of Comprehensive Income for the Nine
                  and Three-Month Periods Ended March 31, 2003 and 2002       5

         Consolidated Statements of Cash Flows for the Nine-Month
                  Periods Ended March 31, 2003 and 2002                       6

         Notes to Financial Statements                                        7


Item 2.  Management's Discussion and Analysis or Plan of Operations           8

Item 3:  Controls and Procedures                                              17


PART II.  OTHER INFORMATION
          -----------------


Item 1.  Legal Proceedings                                                    18

Item 2.  Changes in Securities and Use of Proceeds                            18

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 and Reports on Form 8-K                                     18

Signatures                                                                    19

Certifications                                                                20

                                       2
<PAGE>

                      PATAPSCO BANCORP, INC. AND SUBSIDIARY
                                DUNDALK, MARYLAND

                 CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION
                 ----------------------------------------------
<TABLE>
<CAPTION>
                                                                     MARCH  31,
                                                                        2003            JUNE 30,
                                                                     (UNAUDITED)          2002
                                                                    -------------    -------------
<S>                                                                 <C>              <C>
                    Assets
                    ------
Cash:
     On hand and due from banks                                     $   3,053,098    $   3,660,638
     Interest bearing deposits in other banks                           6,930,939        7,464,183
Federal funds sold                                                      4,218,000        3,732,000
Investment securities, at fair value                                    3,519,565        5,005,955
Mortgage Backed securities, at fair value                              23,051,928       13,705,241
Loans receivable, net                                                 112,854,398      118,349,734
Investment in securities required by law, at cost                       1,543,350        1,903,350
Property and equipment, net                                             1,039,294        1,056,806
Goodwill                                                                1,869,691        1,869,691
Deferred income taxes                                                     525,818          699,125
Accrued interest, prepaid expenses and other assets                     1,134,328        1,288,860
                                                                    -------------    -------------
              Total assets                                          $ 159,740,409    $ 158,735,583
                                                                    =============    =============

                   Liabilities and Stockholders' Equity
                   ------------------------------------
Liabilities:
   Savings deposits:
        Interest bearing deposits                                   $ 112,266,375    $ 113,682,321
        Non interest bearing deposits                                   7,545,339        5,910,312
   Borrowings                                                          22,659,393       22,616,019
   Accrued expenses and other liabilities                               1,752,322        1,925,523
                                                                    -------------    -------------
              Total liabilities                                       144,223,429      144,134,175

Temporary Equity - ESOP shares subject to put option                      676,230          671,724

Stockholders' equity:
    Preferred stock-Series A Noncumultive Convertible
      Perpetual  $0.01 par value; authorized 1,000,000
      shares with a liquidation preference of $25 per                         997            1,002
      share; 99,734 and 100,166 shares outstanding,
      respectively
Additional paid-in capital                                              2,494,695        2,505,495
   Common stock $0.01 par value: authorized 4,000,000
     shares: issued and outstanding 412,634 and
     373,613 shares, respectively                                           4,126            3,736
Additional paid-in capital                                              3,113,643        2,020,324
   Contra equity - Employee stock ownership plan                         (119,537)        (119,537)
      Contra equity - stock held by Rabbi Trust                           (77,544)         (77,544)
   Obligation under Rabbi Trust                                           249,976          249,976
   Retained income, substantially restricted                            8,824,543        9,207,460
   Unrealized net holding gains (losses) on available-for-sale
      portfolios, net of taxes                                            349,851          138,772
                                                                    -------------    -------------
               Total stockholders' equity                              15,516,980       13,929,684
                                                                    -------------    -------------

              Total liabilities and stockholders' equity            $ 159,740,409    $ 158,735,583
                                                                    =============    =============
</TABLE>


                                       3
<PAGE>
                      PATAPSCO BANCORP, INC. AND SUBSIDIARY
                                DUNDALK, MARYLAND

                      CONSOLIDATED STATEMENTS OF OPERATIONS
                      -------------------------------------
                                   (UNAUDITED)

<TABLE>
<CAPTION>
                                                              FOR NINE MONTHS ENDED       FOR THREE MONTHS ENDED
                                                                    MARCH 31,                   MARCH 31,
                                                           --------------------------   -------------------------
                                                               2003           2002         2003          2002
                                                           -----------    -----------   -----------   -----------
<S>                                                        <C>            <C>           <C>           <C>
Interest income:
    Loans receivable                                       $ 6,994,796    $ 7,962,912   $ 2,225,259   $ 2,540,172
    Mortgage-backed securities                                 701,684        236,034       286,916        68,277
    Investment                                                 230,740        166,249        59,514        72,997
    Federal funds sold and other interest bearing assets       131,887        344,053        39,247        81,447
                                                           -----------    -----------   -----------   -----------
          Total interest income                              8,059,107      8,709,248     2,610,936     2,762,893
                                                           -----------    -----------   -----------   -----------

Interest expense:
    Savings deposits                                         2,193,572      3,596,005       687,658       988,968
    Borrowings & Other                                         860,283        869,695       292,417       245,080
                                                           -----------    -----------   -----------   -----------
          Total interest expense                             3,053,855      4,465,700       980,075     1,234,048
                                                           -----------    -----------   -----------   -----------

          Net interest income                                5,005,252      4,243,548     1,630,861     1,528,845
Provision for losses on loans                                  374,600        470,000       134,600        90,000
                                                           -----------    -----------   -----------   -----------
          Net interest income after provision
                   for losses on loans                       4,630,652      3,773,548     1,496,261     1,438,845

Noninterest income:
    Fees and service charges                                   287,234        255,217        90,719        81,348
    Net gain on sales of securities                            118,334        174,470       104,079
    Net gain on sales of loans                                  10,933        337,025         5,927            --
    Net (loss) on sale of repossessed real estate               (3,071)            --            --            --
    Other                                                       21,026         14,872         5,426         5,964
                                                           -----------    -----------   -----------   -----------
        Total noninterest income                               434,456        781,584       206,151        87,312
                                                           -----------    -----------   -----------   -----------

Noninterest expenses:
    Compensation and employee benefits                       2,037,919      1,956,827       692,074       635,374
    Insurance premiums                                          54,092         46,435        18,031        15,829
    Professional fees                                          295,152        139,330       121,568        46,300
    Equipment expense                                          155,774        167,987        48,296        55,830
    Occupancy Expense                                          154,632        146,204        52,326        43,882
    Advertising                                                 84,649        108,113        30,542        27,060
    Data processing                                            163,639        151,609        56,766        49,242
    Goodwill Amortization                                           --             --            --            --
    Other                                                      542,077        515,548       163,121       168,406
                                                           -----------    -----------   -----------   -----------
          Total noninterest expense                          3,487,934      3,232,053     1,182,724     1,041,923
                                                           -----------    -----------   -----------   -----------
          Income before provision for income taxes           1,577,174      1,323,079       519,688       484,234
Provision for income taxes                                     582,244        511,138       191,526       186,399
                                                           -----------    -----------   -----------   -----------
          Net Income                                       $   994,930    $   811,941   $   328,162   $   297,835
                                                           ===========    ===========   ===========   ===========
          Basic earnings per share                         $      2.07    $      1.69   $      0.67   $      0.63
                                                           ===========    ===========   ===========   ===========
          Diluted earnings per share                       $      1.79    $      1.48   $      0.58   $      0.54
                                                           ===========    ===========   ===========   ===========
</TABLE>

See accompanying notes to financial statements.

                                       4
<PAGE>
                      PATAPSCO BANCORP, INC. AND SUBSIDIARY
                                DUNDALK, MARYLAND

                 CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME
                 -----------------------------------------------
                                   (UNAUDITED)
<TABLE>
<CAPTION>
                                                 FOR NINE MONTHS ENDED        FOR THREE MONTHS ENDED
                                                      MARCH  31,                     MARCH 31,
                                             --------------------------    --------------------------
                                                 2003           2002           2003           2002
                                             -----------    -----------    -----------    -----------
<S>                                          <C>            <C>            <C>            <C>
Net income                                   $   994,930    $   811,841    $   328,162    $   297,835
Other comprehensive income, net of tax:
  Unrealized net holding (losses)/gains on
    available-for-sale portfolios                283,706       (157,757)        41,024        211,079

Reclassification adjustment for gains
   Included in net income, net of tax            (72,627)      (107,081)       (63,878)            --
                                             -----------    -----------    -----------    -----------
Comprehensive income                         $ 1,206,009    $   761,165    $   305,308    $   266,865
                                             ===========    ===========    ===========    ===========
</TABLE>

See accompanying notes to financial statements.

                                       5
<PAGE>

                      PATAPSCO BANCORP, INC. AND SUBSIDIARY
                                DUNDALK, MARYLAND

                      CONSOLIDATED STATEMENTS OF CASH FLOWS
                      -------------------------------------
                                   (UNAUDITED)
<TABLE>
<CAPTION>
                                                                        FOR NINE MONTHS ENDED
                                                                              MARCH  31,
                                                                    ----------------------------
                                                                        2003           2002
                                                                    ------------    ------------
<S>                                                                 <C>             <C>
Cash flows from operating activities:
  Net income                                                        $    994,930    $    811,941
  Adjustments to reconcile net income to net
    cash provided by operating activities:
       Depreciation                                                      106,846         112,052
       Loss on sale of repossessed real estate                             3,071              --
       Gain on sale of investment & mortgage backed securities          (118,334)       (174,470)
       Gain on sale of loans held for sale                               (10,933)       (337,025)
       Proceeds from sale of loans held for sale                         916,004      10,251,164
       Disbursements of loans originated for sale                       (905,071)             --
       Provision for losses on loans                                     374,600         470,000
       Provision for losses on repossessed assets                             --          10,000
       Non-cash compensation under stock-based benefit plans                  --          60,610
       Amortization of premiums and discounts, net                       (81,123)        138,343
       Deferred loan origination fees, net of costs                      133,053          19,912
       Decrease in deferred taxes,
           prepaid expenses and other assets                              65,088         443,211
       Decrease in accrued expenses and other liabilities               (173,201)     (1,289,636)
                                                                    ------------    ------------
         Net cash  provided by operating activities                    1,304,930         264,938

Cash flows from investing activities:
  Loan principal repayments, net of disbursements                      5,111,629       9,943,017
  Purchase of property and equipment                                     (89,334)        (15,380)
  Purchase of investment security available-for-sale                  (1,190,000)     (4,255,664)
  Purchase of mortgage-backed securities available for sale          (12,130,299)             --
  Proceeds from sale of repossessed real estate                          126,839              --
  Proceeds from sale/redemption of investments available for sale      2,773,907       2,621,252
  Redemption of stock in Federal Home Loan Bank of Atlanta               360,000              --
  Principal repayment on mortgage-backed securities
    available for sale                                                 3,134,788       1,595,435
                                                                    ------------    ------------
        Net cash (used in) provided by investing activities           (1,902,470)     19,523,082

Cash flows from financing activities:
  Net increase (decrease) in deposits                                    233,193      (2,967,365)
  Net decrease in borrowings                                                  --      (6,900,000)
  Stock repurchase                                                            --         (55,638)
  Cash received in exercise of stock options                              16,465          57,407
  Dividends paid                                                        (306,902)       (290,817)
                                                                    ------------    ------------
         Net cash used in financing activities                           (57,244)    (10,156,413)

  Net (decrease) increase in cash and cash equivalents              $   (654,784)   $  9,631,607
  Cash and cash equivalents at beginning of period                    14,856,821      11,160,631
  Cash and cash equivalents end of period                           $ 14,202,037    $ 20,792,238

Supplemental information:
  Interest paid on deposits and borrowed funds                         3,053,855       4,465,700
  Income taxes paid                                                      515,700         595,000
  Stock Dividend Paid                                                  1,070,945         872,913
</TABLE>

See accompanying notes to financial statements.

                                       6
<PAGE>

                      PATAPSCO BANCORP, INC. AND SUBSIDIARY

                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
                                   (UNAUDITED)


Note 1:   Principles of Consolidation

The consolidated  financial statements include the accounts of Patapsco Bancorp,
Inc. ("the Company") and its  wholly-owned  subsidiary,  The Patapsco Bank ("the
Bank").  All intercompany  accounts and transactions have been eliminated in the
accompanying consolidated financial statements.

Note 2:   The Patapsco Bank

The Bank is regulated  by The Federal  Reserve  Bank of Richmond  ("the  Federal
Reserve Bank") and The State of Maryland. The primary business of the Bank is to
attract  deposits  from  individual  and  corporate  customers  and to originate
residential  and  commercial  mortgage  loans,  consumer  loans  and  commercial
business loans. The Bank competes with other financial and mortgage institutions
in attracting and retaining deposits and originating loans. In October, 2000 the
Bank created a leasing  company  called Prime  Business  Leasing,  Inc. The Bank
conducts operations through three offices.

Note 3:   Basis of Presentation

The accompanying  unaudited consolidated financial statements have been prepared
in accordance with  instructions  for Form 10-QSB and therefore,  do not include
all  disclosures  necessary  for a complete  presentation  of the  statements of
condition,  statements of operations  and statements of cash flows in conformity
with generally accepted accounting principles.  However, all adjustments,  which
are, in the opinion of management,  necessary for the fair  presentation  of the
interim  financial  statements have been included.  Such  adjustments  were of a
normal recurring nature. The results of operations for the nine and three months
ended March 31, 2003 are not  necessarily  indicative of the results that may be
expected for the entire year.

Note 4:  Cash and Cash Equivalents

Cash equivalents include short-term investments, which consists of Federal funds
sold. Cash  equivalents and other liquid and short-term  investments are carried
at cost, which approximates market value.

Note 5:   Regulatory Capital Requirements

At March 31, 2003, the Company met each of the three minimum  regulatory capital
requirements.  The following  table  summarizes  the Bank's  regulatory  capital
position at March 31, 2003 (in thousands).
<TABLE>
<CAPTION>
                                                                                     WELL CAPITALIZED UNDER
                                                                   FOR CAPITAL         PROMPT CORRECTIVE
                                             ACTUAL             ADEQUACY PURPOSES       ACTION PROVISION
                                    ---------------------     --------------------   ----------------------
                                    AMOUNT            %       AMOUNT         %       AMOUNT             %
                                    -----------------------------------------------------------------------
<S>                              <C>               <C>        <C>           <C>      <C>             <C>
Total Capital (to Risk
  Weighted Assets)               $13,818           14.27%     $7,747        8.00%    $9,683          10.00%

Tier 1 Capital (to Risk
   Weighted Assets)              $12,772           13.19%     $3,873        4.00%    $5,810           6.00%

Tier 1 Capital (to Average
    Assets)                      $12,772            8.35%     $6,117        4.00%    $7,646           5.00%
</TABLE>

                                       7
<PAGE>
Note 6:  Earnings Per Share

Basic per share amounts are based on the weighted average shares of common stock
outstanding.  Diluted  earnings  per share  assume the  conversion,  exercise or
issuance  of  all  potential  common  stock  instruments  such  as  options  and
convertible  securities,  unless  the  effect  is to  reduce a loss or  increase
earnings per share.
<TABLE>
<CAPTION>
                                      Nine Months Ended        Three Months Ended
                                        March 31, 2003          March 31, 2003
                                      Basic     Diluted        Basic     Diluted
                                      -----------------        -----------------
<S>                                   <C>       <C>            <C>       <C>
Net Income                            994,930   994,930        328,162   328,162
Preferred Stock Dividends             140,543        --         46,750        --
                                      -------   -------        -------   -------
Net Income Available to Common        854,387   994,929        281,412   328,161

Weighted average shares outstanding   411,910   411,910        420,999   420,999

Diluted Securities:
  Preferred Stock                               121,014                  120,833
  MRP Shares                                          0                        0
  Options                                        24,441                   24,412
--------------------------------------------------------------------------------
Adjusted Weighted Average Shares      411,910   557,365        420,999   566,244

Per Share Amount                      $  2.07   $  1.79        $  0.67   $  0.58

<CAPTION>
                                      Nine Months Ended        Three Months Ended
                                        March 31, 2002          March 31, 2002
                                      Basic     Diluted        Basic     Diluted
                                      -----------------        -----------------
<S>                                   <C>       <C>            <C>       <C>
Net Income                            811,941   811,941        297,835   297,835
Preferred Stock Dividends             148,924         0         48,467         0
                                      -------   -------        -------   -------
Net Income Available to Common        663,017   811,941        249,368   297,835

Weighted average shares outstanding   392,571   392,571        394,585   394,585

Diluted Securities:
  Preferred Stock                               137,802                  137,622
  MRP Shares                                        499                        0
  Options                                        18,141                   16,135
--------------------------------------------------------------------------------
Adjusted Weighted Average Shares      392,571   549,013        394,585   548,342

Per Share Amount                      $  1.69   $  1.48        $  0.63   $  0.54
</TABLE>
Note 7:  Goodwill and Intangible Assets

Under the  provisions  of SFAS No. 142,  goodwill  was  subjected  to an initial
assessment for impairment and subsequent  annual  impairment  tests. The Company
completed its initial  assessment  review in November 2001 and  determined  that
there was no impairment of goodwill. In November 2002, the Company completed its
annual test for goodwill impairment.  This test also resulted in a determination
that  goodwill was not impaired.  The Company will review  goodwill on an annual
basis for impairment and as events occur or circumstances change.

ITEM 2. MANAGEMENT'S  DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS
OF OPERATIONS

FORWARD-LOOKING STATEMENTS

     When used in this Form 10-QSB,  the words or phrases "will likely  result,"
"are expected to," "will continue," "is anticipated,"  "estimate,"  "project" or
similar expressions are intended to identify "forward-looking statements" within
the  meaning of the  Private  Securities  Litigation  Reform  Act of 1995.  Such
statements are subject to certain

                                       8
<PAGE>

risks  and  uncertainties  including  changes  in  economic  conditions  in  the
Company's market area, changes in policies by regulatory agencies,  fluctuations
in  interest  rates,  demand  for  loans  in  the  Company's  market  area,  and
competition that could cause actual results to differ materially from historical
earnings and those  presently  anticipated  or projected.  The Company wishes to
caution  readers  not  to  place  undue  reliance  on any  such  forward-looking
statements,  which speak only as of the date made.  The Company wishes to advise
readers  that the factors  listed  above could  affect the  Company's  financial
performance  and could cause the Company's  actual results for future periods to
differ  materially  from any opinions or  statements  expressed  with respect to
future periods in any current statements.

The Company does not undertake,  and specifically  disclaims any obligation,  to
publicly  release  the  result  of  any  revisions,  which  may be  made  to any
forward-looking  statements to reflect events or circumstances after the date of
such  statements or to reflect the occurrence of  anticipated  or  unanticipated
events.

CRITICAL ACCOUNTING POLICIES

The Company's  financial  statements are prepared in accordance  with accounting
principals  generally  accepted  in the  United  States of America  (GAAP).  The
financial  information  contained  within its  statements  is, to a  significant
extent, financial information that is based on measures of the financial effects
of  transactions  and events that have  already  occurred.  A variety of factors
could affect the  ultimate  value that is obtained  either when earning  income,
recognizing an expense, recovering an asset or relieving a liability.

The  Company  believes  its  most  critical  accounting  policy  relates  to the
allowance for credit losses.  The estimates used in  Management's  assessment of
the adequacy of the  allowance for credit losses  require that  management  make
assumptions  about  matters  that  are  uncertain  at the  time  of  estimation.
Differences in these  assumptions and differences  between  estimated and actual
losses could have a material effect.

COMPARISON OF FINANCIAL CONDITION AT MARCH 31, 2003 AND JUNE 30, 2002

The  Company's  assets  increased by $1.0  million or 1.0% to $159.7  million at
March 31, 2003 from $158.7  million at June 30, 2002.  Cash  generated  from the
high  level of early  payoffs in the  residential  mortgage  portfolio  was used
primarily  to purchase  mortgage-backed  securities.  Cash and cash  equivalents
decreased by $0.6 million or 4.4% to $14.2  million at March 31, 2003 from $14.8
million at June 30,2002.  Investment securities decreased by $1.5 million or 30%
as the  sale and  redemption  of  these  securities  exceeded  the  purchase  of
replacement securities.  Mortgage-backed securities increased by $9.3 million or
68.2% as  purchases  exceeded  principal  payments  received.  The  current  low
interest  rate  environment  has  resulted in an  extremely  high level of early
payoffs in the  residential  mortgage  portfolio.  New loan  production has been
unable to keep up with this  level of  payoffs  resulting  in loans  outstanding
declining by $5.5 million or 4.6% to $112.8 million at March 31,2003 from $118.3
million at June 30, 2003.

Interest  bearing  deposits  have  decreased  by $1.4 million or 1.25% to $112.3
million from $113.7  million.  This decrease was entirely in the  certificate of
deposit category. Noninterest bearing deposits have increased by $1.6 million or
27.7% to $7.5 million at March 31, 2003 from $5.9 million at June 30, 2002.


COMPARISON OF OPERATING RESULTS FOR THE QUARTERS AND NINE MONTHS ENDED MARCH 31,
2003 AND MARCH 31, 2002

Net Income
----------

The  Company's  net income  increased  by $30,000 or 10.2% to  $328,000  for the
quarter ended March 31, 2003 from $298,000 for the quarter ended March 31, 2002.
The Company's net income increased by $183,000 or 22.5% to $995,000 for the nine
months  ended March 31, 2003 from  $812,000  for the nine months ended March 31,
2002. The increase in the Company's net income during the comparable three-month
period is a result of higher net interest and noninterest  income  exceeding the
increase in operating expenses.  The increase in the Company's net income in the
comparable  nine-month  periods  was a result  of  higher  net  interest  income
offsetting the increase in operating expenses, the provision for loan losses and
lower noninterest income.

                                       9
<PAGE>

Interest Income
---------------

Total interest income  decreased by $0.2 million or 5.5% to $2.6 million for the
quarter  ended March 31, 2003 from $2.8 million for the quarter  ended March 31,
2002.  Total interest  income  decreased by $0.7 million or 7.5% to $8.0 million
for the nine months  ended March 31, 2003 from $8.7  million for the nine months
ended  March 31,  2002.  The  decreases  in  interest  income in the  comparable
quarterly  periods  is  primarily  a result of lower  rates  earned on  interest
earning  assets  in all  categories.  The  decrease  in  interest  income in the
comparable  nine-month  periods is also primarily a result of lower rates earned
on assets.  However,  19% of the  decrease in interest  income in the nine month
period is due do the lower average volume of interest earning assets,  primarily
loans receivable.

Interest income on loans  receivable  decreased by $0.3 million or 12.4% to $2.2
million for the quarter  ended March 31, 2003 from $2.5  million for the quarter
ended March 31,  2002.  Interest  income on loans  receivable  decreased by $1.0
million or 12.2% to $7.0  million for the nine months  ended March 31, 2003 from
$8.0  million for the nine months ended March 31,  2002.  The  decreases in loan
interest  income in the comparable  quarterly  periods are primarily a result of
lower loan  balances  caused by loan  payoffs  amortization  exceeding  new loan
production.  However,  44%  of the  decrease  in  loan  interest  income  in the
comparable  quarterly  periods  resulted  from lower rates earned on loans.  The
decrease  in loan  interest  income  in the  comparable  nine-month  periods  is
primarily  a result  of lower  average  loan  balances.  The  decreased  average
balances in loans  receivable are  responsible  for $601,000 of the decrease and
lower rates are responsible for $367,000 of the decrease.

Interest income on mortgage-backed securities increased by $219,000 or 320.2% to
$287,000  and by  $466,000  or 197.3% to  $702,000  in the three and  nine-month
periods  ended  March 31,  2003,  respectively.  The  increase  is due to higher
average  balances due to  purchases  offsetting  slightly  lower rates earned on
these securities.

Interest  income on investment  securities held for sale decreased by $13,000 or
18.5% to $60,000 in the three month period ended March 31, 2003  compared to the
three  month  period  ended  March 31,  2002 and  increased  $64,000 or 38.8% to
$231,000  in  the  nine-month  period  ended  March  31,  2002  compared  to the
nine-month  period ended March 31, 2002. The decrease in interest  income in the
comparable quarterly periods is due to both lower average volumes and rates. The
increase in the comparable  nine-month periods is due to higher average balances
offsetting lower rates.

Interest income on federal funds sold and other investments decreased by $42,000
or 51.8% to $39,000  for the quarter  ended March 31, 2003 from  $81,000 for the
quarter  ended March 31, 2002 as a result of both lower  volumes and rates.  The
decrease  in  Interest  income on federal  funds sold and other  investments  of
$212,000  or 61.7% for the nine  month  period  also  resulted  from both  lower
volumes and lower market interest rates.

Interest Expense
----------------

Total  interest  expense  decreased by $254,000 or 20.6% to $1.0 million for the
quarter  ended March 31, 2003 from $1.2 million for the quarter  ended March 31,
2002.  Total  interest  expense  decreased  by $1.4 million or 31.6% in the nine
months ended March 31, 2003 from the nine months  ended March 31,  2002.  In the
comparable  quarterly periods,  lower rates paid on both deposits and borrowings
offset  the  higher  average   balance  of  borrowings.   The  average  rate  on
interest-bearing liabilities decreased by 76 basis points to 2.97% from 3.73% in
the quarterly period ended March 31, 2003 as compared to the quarter ended March
31, 2002.  The reduction in interest  expense during the nine months ended March
31, 2003 as compared to the nine months  ended March 31, 2002 was due  primarily
to lower rates paid on deposits.

Interest expense on deposits  decreased by $301,000 or 30.5% to $0.7 million for
the quarter  ended March 31, 2003 from $1.0 million for the quarter  ended March
31,  2002.  Interest  expense on deposits  decreased by $1.4 million or 39.0% to
$2.2 million  from $3.6  million for the nine months  ended March 31, 2002.  The
decrease  in  interest  expense on deposits  during the  comparable  quarters is
primarily  attributable  to a decrease in the average rate by 91 basis points to
2.51% from  3.42%.  The  decrease in  interest  expense on  deposits  during the
comparable nine-month periods was due primarily to the 140 basis point reduction
in rates paid on deposits to 2.62% from 4.02%.

Interest expense on borrowings increased by $47,000 or 19.3% to $292,000 for the
quarter ended March 31, 2003

                                       10
<PAGE>

from  $245,000  for the  quarter  ended  March 31,  2002.  Interest  expense  on
borrowings  decreased by $9,000 or 1.0% to $860,000 during the nine months ended
March 31, 2003 from  $869,000  during the nine months ended March 31, 2002.  The
increase for the comparable quarters was attributable to higher average balances
offsetting lower rates. For the nine-month  comparable  periods the decrease was
attributable to lower rates offsetting higher average balances.

Net Interest Income
-------------------

The Company's net interest income before the provision for loan losses increased
by $102,000 or 6.7% to $1.6  million the quarter  ended March 31, 2003 from $1.5
million for the quarter  ended March 31, 2002.  Net interest  income  before the
provision for loan losses increased by $762,000 or 18.0% to $5.0 million for the
nine months ended March 31, 2003 from $4.2 million  during the nine months ended
March 31,  2002.  The  increase in net  interest  income  during the  comparable
quarters  is a  result  of  lower  rates  paid in  interest-bearing  liabilities
offsetting the lower rates earned on  interest-earning  assets. The net interest
margin  increased 21 basis points to 4.40% from 4.19% in the quarter ended March
31, 2003 as compared to the quarter  ended March 31,  2002.  The increase in net
interest income in the comparable  nine-month  periods  primarily  resulted from
lower rates paid on interest-bearing  liabilities  offsetting lower rates earned
on and lower  average  balances of  interest-earning  assets.  The net  interest
margin  increased  by 71 basis  points to 4.46 for the  nine-month  period ended
March 31, 2003 from 3.75% for the nine-month period ended March 31, 2002.

                                       11

<PAGE>


Average Balance Sheet
---------------------

The following  tables sets forth certain  information  relating to the Company's
average  balance  sheet and  reflects  the  average  yield on assets and cost of
liabilities  for the periods  indicated and the average  yields earned and rates
paid.   Dividing  income  or  expense  by  the  average  balance  of  assets  or
liabilities,  respectively,  for the periods  presented  derives these yield and
costs. Average balances are daily balances.

The table presents information for the periods indicated with respect to the net
interest margin, which is its net interest income divided by the average balance
of interest-earning assets. Also presented is the difference between the average
yield   earned   on   interest-earning   assets   and   average   rate  paid  on
interest-bearing  liabilities,  or interest  rate spread  ,which is also used to
measure the earnings power of financial institutions.
<TABLE>
<CAPTION>
                                                                   NINE MONTHS ENDED MARCH 31,
                                               ----------------------------------------------------------------------------
                                                             2003                                     2002
                                               ----------------------------------      ------------------------------------
                                               AVERAGE                   AVERAGE       AVERAGE                      AVERAGE
                                               BALANCE      INTEREST      RATE(1)      BALANCE       INTEREST       RATE(1)
                                               -------      --------     ---------     -------       --------       -------
                                                                            (DOLLARS IN THOUSANDS)
<S>                                           <C>            <C>             <C>       <C>             <C>            <C>
Interest-earning assets:
   Loans receivable (2)                       $115,458       $6,995          8.07%     $124,993        $7,963         8.47%
   Mortgage-backed securities                   16,608          701          5.63%        4,843           236         6.49%
   Investment securities                         6,590          231          4.66%        3,901           166         5.68%
   Federal funds sold and other
      interest-earning assets                   10,813          132          1.62%       17,133           344         2.67%
                                              --------       ------                    --------        ------
Total interest earning assets                  149,469        8,059          7.18%      150,870         8,709         7.68%
                                                             ------                                    ------
Noninterest-earning assets                       5,858                                    6,665
                                              --------                                 --------
Total Average Assets                          $155,327                                 $157,535
                                              ========                                 ========

Interest-bearing liabilities:
Savings deposits                              $111,375       $2,194          2.62%     $119,170        $3,596         4.02%
Borrowings                                      22,113          860          5.18%       18,558           870         6.24%
                                              --------       ------                    --------        ------
Total interest-bearing liabilities             133,488        3,054          3.05%      137,728         4,466         4.32%
                                                             ------        ------                      ------       ------
Noninterest-bearing liabilities                  6,642                                    6,160
                                              --------                                 --------
Total liabilities                              140,130                                  143,888
Stockholders' equity                            15,197                                   13,647
                                              --------                                 --------
    Total liabilities and stockholders'
      equity                                  $155,327                                 $157,535
                                              ========                                 ========


Net interest income                                         $5,005                                     $4,243
                                                            ======                                     ======
Interest rate margin                                                         4.46%                                    3.75%
                                                                           =======                                  ======
Net interest spread                                                          4.14%                                    3.36%
                                                                           ======                                   ======
Ratio of average interest-earning assets
  to average interest-bearing liabilities                                  111.97%                                  109.54%
                                                                           ======                                   ======
<FN>
-----------
(1)  Yields and rates are annualized.
(2)  Includes nonaccrual loans.
</FN>
</TABLE>
                                       12
<PAGE>
<TABLE>
<CAPTION>
                                                                   THREE MONTHS ENDED MARCH 31,
                                               ----------------------------------------------------------------------------
                                                             2003                                     2002
                                               ----------------------------------      ------------------------------------
                                               AVERAGE                   AVERAGE       AVERAGE                      AVERAGE
                                               BALANCE      INTEREST      RATE(1)      BALANCE       INTEREST       RATE(1)
                                               -------      --------     ---------     -------       --------       -------
                                                                            (DOLLARS IN THOUSANDS)
<S>                                           <C>            <C>             <C>       <C>             <C>            <C>
Interest-earning assets:
   Loans receivable (2)                        $111,988      $2,225        8.06%     $120,690         $2,540         8.54%
   Mortgage-backed securities                    21,523         287        5.41%        4,289             68         6.46%
   Investment securities                          5,287          60        4.57%        5,749             73         5.08%
   Federal funds sold and other
      interest-earning assets                    11,398          39        1.40%       17,129             82         1.93%
                                               --------      ------                  --------         ------
Total interest earning assets                   150,196       2,611        7.05%      147,857          2,763         7.58%
Noninterest-earning assets                        6,097      ------                     5,779         ------
                                               --------                              --------
Total assets                                   $156,293                              $153,636
                                               ========                              ========

Interest-bearing liabilities:
Savings deposits                               $111,022      $  688        2.51%     $117,289         $  989         3.42%
Borrowings                                       22,861         292        5.12%       16,793            245         5.84%
                                               --------      ------                  --------         ------
Total interest-bearing liabilities              133,883         980        2.97%      134,082          1,234         3.73%
                                                             ------                                   ------
Noninterest-bearing liabilities                   6,943                                 5,707
                                               --------                              --------
Total liabilities                               140,826                               139,789
Stockholders' equity                             15,467                                13,847
                                               --------                              --------
    Total liabilities and stockholders'
      equity                                   $156,293                              $153,636
                                               ========                              ========


Net interest income                                          $1,631                                   $1,529
                                                             ======                                   ======
Interest rate margin                                                       4.40%                                     4.19%
                                                                         ======                                    ======
Net interest spread                                                        4.08%                                     3.85%
                                                                         ======                                    ======
Ratio of average interest-earning assets
  to average interest-bearing liabilities                                112.18%                                   110.27%
                                                                         ======                                    ======
<FN>
-----------
(1)  Yields and rates are annualized.
(2)  Includes nonaccrual loans.
</FN>
</TABLE>

Provision For Loan Losses
-------------------------

Provisions  for loan  losses  are  charged to  earnings  to  maintain  the total
allowance  for loan  losses at a level  considered  adequate  by  management  to
provide  for  probable   loan  losses.   The   methodology   for  assessing  the
appropriateness  of the  allowance  includes  a  specific  allowance,  a formula
allowance and a nonspecific allowance.  The specific allowance is for risk rated
credits on an  individual or portfolio  basis.  The formula  allowance  reflects
historical losses by credit category.  The nonspecific allowance captures losses
whose impact on the  portfolio  have  occurred but have yet to be  recognized in
either the  specific  allowance  or the formula  allowance.  The factors used in
determining the nonspecific allowance include trends in delinquencies, trends in
volumes  and  terms  of  loans,  the size of loans  relative  to the  allowance,
concentration  of  credits,  the quality of the risk  identification  system and
credit administration and local and national economic trends.


The Company provided $135,000 for loan losses during the quarter ended March 31,
2003 and  $90,000 in the  quarter  ended March 31,  2002.  The Company  provided
$375,000  and  $470,000 for loan losses  during each of the  nine-month  periods
ended March 31, 2003 and March 31, 2002. At March 31, 2003, non-performing loans
totaled $511,000 compared to $696,000 at June 30, 2002. The Company's  allowance
for loan  losses as a  percentage  of total loans  outstanding,  net of unearned
origination fees was 0.92% at March 31, 2003 compared to 1.20% at June 30, 2002.

                                       13
<PAGE>
Activity in the allowance for loan losses is as follows (dollars in thousands):
<TABLE>
<CAPTION>
                                               NINE MONTHS ENDED     THREE MONTHS ENDED
                                               -----------------    ------------------
                                                            MARCH 31,
                                                            ---------
                                                 2003      2002      2003       2002
                                                 ----      ----      ----       ----
<S>                                              <C>      <C>       <C>        <C>
Allowance for loan losses,
  beginning of period                            $1,438   $1,161    $1,195     $1,378

Provision for loan losses                           375      470       135         90

Loans Charged Off:
         Consumer                                   123      144        30         41
         Real Estate                                  0        0         0          0
         Commercial                                 709      125       286         17
                                                 ------   ------    ------     ------
  Total Charge-Offs                                 832      269       316         58

Recoveries:
         Consumer                                    29       30         7          6
         Real Estate                                  0       12         0          0
         Commercial                                  37       22        26         10
                                                 ------   ------    ------     ------
  Total Recoveries                                   66       64        33         16
                                                 ------   ------    ------     ------

Allowance for loan losses, end of period         $1,047   $1,426    $1,047     $1,426
                                                 ======   ======    ======     ======
</TABLE>
The  following  table  sets forth  information  with  respect  to the  Company's
non-performing assets at the dates indicated.
<TABLE>
<CAPTION>
                                                                 At March 31,       At June 30,
                                                                 ------------       -----------
                                                                    2003               2002
                                                                    ----               ---
                                                                         (In thousands)
<S>                                                              <C>                <C>
Loans accounted for on a non-accrual basis: (1)
    Real estate:
       Residential.............................................  $      13          $     285
       Commercial..............................................         --                 --
       Construction............................................         --                 --
    Consumer...................................................         55                 --
    Commercial Loan/Lease......................................        443                411
                                                                 ---------          ---------
       Total...................................................  $     511          $     696
                                                                 =========          =========
Accruing loans which are contractually past due
   90 days or more.............................................  $      --          $      --
                                                                  --------           --------
       Total...................................................  $      --          $      --
                                                                  --------           --------
       Total non-performing loans..............................  $     511          $     696
                                                                 =========          =========
Percentage of total loans......................................       0.45%              0.58 %
                                                                 =========          =========
Other non-performing assets (2)................................  $       0          $     128
                                                                 =========          =========
<FN>
-------------
(1)  Non-accrual  status  denotes loans on which,  in the opinion of management,
     the collection of additional  interest is unlikely.  Payments received on a
     non-accrual loan are either applied to the outstanding principal balance or
     recorded as interest  income,  depending on management's  assessment of the
     collectability of the loan.
(2)  Other  non-performing  assets  represents  property acquired by the Company
     through foreclosure or repossession.  This property is carried at the lower
     of its fair market  value less  estimated  selling  costs or the  principal
     balance of the related loan, whichever is lower.
</FN>
</TABLE>
                                       14
<PAGE>

At March 31, 2003,  non-accrual  real estate loans  consisted of two residential
real estate  loans  totaling  $14,000  that have been  brought  current at April
20,2003.  Included  in  non-accrual  commercial  loans is $174,000 of a $500,000
commercial loan collateralized by automobile leases and the security interest in
the automobiles.  An additional $302,000 of this credit is delinquent between 30
and 89 days.  The  company is  pursuing  all  options  and is  charging  off the
underlining  leases as it determines them to be uncollectable.  Also included in
non-accrual  commercial  loans are five loans  with a $232,000  balance of which
$138,000 that is guaranteed by the Small  Business  Administration.  As of April
30,2003,  $61,000 of the SBA  guarantee has been  collected  and two  commercial
loans totaling  $24,000 have paid off. Also included in  non-accrual  commercial
loans are four  commercial  equipment  leases  with an  outstanding  balance  of
$36,000.

Consumer  loans on  non-accrual  represent  three second  mortgage  loans with a
combined balance of $55,000.


Noninterest Income
------------------

The Company's noninterest income consists of deposit fees, service charges, late
fees and gains and losses on sales of  securities,  loans and  repossessed  real
estate. Total noninterest income increased by $119,000 or 135.8% to $206,000 for
the quarter  ended March 31, 2003 from  $87,000 for the quarter  ended March 31,
2002. Total noninterest income decreased by $347,000 or 44.4% to $434,000 during
the nine months ended March 31, 2003 from $782,000  during the nine months ended
March 31, 2002. The increase in noninterest income in the comparable quarters is
primarily  due  to the  $104,000  gain  on the  sale  of  investment  securities
recognized  in the quarter  ended March 31, 2003 whereas  there were no gains on
sale of investment  securities in the Quarter ended March 31, 2002. The majority
of the gain resulted from the sale of equity  securities of a local savings bank
that sold itself to another financial  institution in the quarter.  The decrease
in noninterest  income in the comparable nine month period is due to lower gains
on the sale of loans and  securities.  In the quarter ended  September 30, 2002,
the Bank sold at substantial  gains,  $10 million of first mortgage loans and $2
million in  investment  securities  acquired in the  November  2000  purchase of
Northfield  Bancorp.  Fees and service charges on deposit accounts  increased by
11.5% and 12.5% in the comparable quarterly and year-to-date periods.

Noninterest Expenses
--------------------

Total  noninterest  expenses  increased by $141,000 or 13.5% to $1.2 million for
the quarter  ended March 31, 2003 from $1.1 million for the quarter  ended March
31,  2002.  The  largest  dollar   increases  were  in  professional   fees  and
compensation and benefits.  Professional fees increased primarily as a result of
legal  fees  associated  with  the  workout  of two  problem  commercial  loans.
Compensation and benefits  increased by $57,000 or 8.92% to $692,000 primarily a
result of higher staffing  levels and higher health  insurance and ESOP expense.
Total  noninterest  expense  increased  by $256,000 or 7.9% to $3.5 million from
$3.2 million during the nine months ended March 31, 2003. As was the case in the
comparable  quarterly  periods,  the largest  increases were in the professional
fees and compensation and benefits areas.

Liquidity and Capital Resources
-------------------------------

An important component of the Company's  asset/liability  structure is the level
of  liquidity  available  to meet the  needs of  customers  and  creditors.  The
Company's   Asset/Liability   Management   Committee  has  established   general
guidelines for the  maintenance  of prudent  levels of liquidity.  The Committee
continually monitors the amount and source of available  liquidity,  the time to
acquire it and its cost. Management of the Company seeks to maintain an adequate
level of  liquidity  in  order  to  retain  flexibility  in terms of  investment
opportunities and deposit pricing. Because liquid assets generally provide lower
rates of return, a high level of liquidity will, to a certain extent,  result in
lower net interest margins and lower net income.

The Bank's  primary  sources of funds are deposits and  proceeds  from  maturing
investment securities and mortgage-backed  securities and principal and interest
payments on loans.  While  maturities and scheduled  amortizations of securities
and  loans  are  predictable  sources  of  funds,  deposit  flows  and  mortgage
prepayments  are  greatly   influenced  by  general  interest  rates,   economic
conditions, competition and other factors.

The Bank's most liquid  assets are cash on hand,  interest-bearing  deposits and
Federal  funds  sold,  which are  short-term,  highly  liquid  investments  with
original  maturities of less than three months that are readily  convertible  to
known amounts of cash. The levels of these assets are dependent on the Company's
operating,  financing and investing activities during any given period. At March
31, 2003,  the  Company's  cash on hand,  interest-bearing  deposits and Federal
funds sold totaled $14.2  million.  In addition,  the Company has  approximately
$26.6  million  of  mortgage-backed  and  investment  securities  classified  as
available-for-sale.

                                       15
<PAGE>

The Bank  anticipates  that it will have sufficient  funds available to meet its
current  loan  commitments  of $10.0  million.  These  funds will be  internally
generated,  raised through  deposit  operations,  or borrowed.  Certificates  of
deposit  that are  scheduled  to mature in less than one year at March 31,  2003
totaled $34.3 million. Historically, a high percentage of maturing deposits have
remained with the Company.  However, due to the level of the Company's liquidity
and  relatively  tepid  loan  demand  in the past  nine  months,  rates  paid on
certificates have been aggressively  lowered.  This may result in some customers
withdrawing  their  certificates  in order to chase  yields  at other  financial
institutions.

The Company, as the holding company for the Bank, has an annual cash requirement
of approximately $420,000 for the payment of common and preferred dividends. The
loan  whose  proceeds  were used in the  acquisition  of  Northfield  Bancorp in
November  2000 has been paid off.  The balance of this loan at December 21, 2002
was  $550,000.  The only real  source of funds to meet the common and  preferred
stock dividend  obligations  are dividends  from the Bank to the Company.  As of
January 1, 2003,  the Bank no longer has to request  prior  permission  from the
Federal Reserve Bank of Richmond to pay a dividend to the holding  Company.  The
Bank's payment of dividends is however,  subject to the Federal  Reserve Board's
Regulation H, which  provides that a state member bank may not pay a dividend if
the total of all dividends declared by the bank in any calendar year exceeds the
total of its net profits for the year combined with its retained net profits for
the preceding two calendar years, less any required transfers to surplus or to a
fund for the  retirement  of preferred  stock,  unless the bank has received the
prior approval of the Federal Reserve Board.  Additionally,  the Federal Reserve
Board has the  authority  to  prohibit  the payment of  dividends  by a Maryland
commercial  bank when it  determines  such  payment to be an unsafe and  unsound
banking practice.  Finally, the Bank is not able to pay dividends on its capital
stock if its capital would thereby be reduced below the remaining balance of the
liquidation  account established in connection with its conversion in April 1996
from mutual to stock form.

In  addition,  the  Bank  may not pay  dividends  on its  capital  stock  if its
regulatory  capital  would thereby be reduced below the amount then required for
the liquidation account established for the benefit of certain depositors of the
Association at the time of the Association's conversion to stock form.

Contingencies and Off-Balance Sheet Items
-----------------------------------------

The  Company  is party to  financial  instruments  with  off-balance  sheet risk
including  commitments  to extend  credit  under both new  facilities  and under
existing lines of credit.  Commitments to fund loans  typically  expire after 60
days,  commercial  lines of credit are subject to annual reviews and home equity
lines of credit are generally for a term of 20 years. These instruments contain,
to varying  degrees,  credit  and  interest  rate risk in excess of the  amounts
recognized in the consolidated balance sheets.

Off-balance sheet financial instruments whose contract amounts represent credit
and interest rate risk are summarized as follows:
<TABLE>
<CAPTION>
                                                        March 31, 2003    June 30, 2002
                                                        --------------    -------------
                                                           (dollars in thousands)
<S>                                                        <C>               <C>
Commitments to originate new loans                         $8,117            $4,512
Undisbursed lines of credit                                 4,634             3,878
Financial standby letters of credit                           882               669
</TABLE>

As discussed in Note 5 - Regulatory  Capital  Requirements,  the Company and the
Bank exceeded all regulatory minimum capital requirements.

                                       16
<PAGE>

ITEM 3 : CONTROLS AND PROCEDURES
--------------------------------

Within 90 days prior to the date of this  report,  the  Company  carried  out an
evaluation,  under the supervision and with the  participation  of the principal
executive officer and principal  financial officer,  of the effectiveness of the
design and operation of our disclosure  controls and  procedures.  Based on this
evaluation,  the principal  executive  officer and principal  financial  officer
concluded that the Company's disclosure controls and procedures are effective in
timely  alerting  them to  material  information  required to be included in our
periodic  SEC  reports.  It should  be noted  that the  design of any  system of
controls  is based in part upon  certain  assumptions  about the  likelihood  of
future  events,  and there can be no  assurance  that any design will succeed in
achieving its stated goals under all potential future conditions,  regardless of
how remote.

There have been no significant  changes in the Company's internal controls or in
other factors that could  significantly  affect those controls subsequent to the
date of their last evaluation.

In April of 2003, the Audit Committee of the Board of Directors  engaged Stegman
& Company,  CPA's to perform  Internal  Audit  services  for the Company and the
Bank. Stegman & Company has not been engaged for any other services.


                                       17
<PAGE>

                           PART II. OTHER INFORMATION


Item 1.  Legal Proceedings

None.

Item 2.  Changes in Securities and use of proceeds.

None.

Item 3.  Defaults Upon Senior Securities

None

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

None

Item 5.  Other Information

None

Item 6.  Exhibits and Reports on Form 8-K

     (a)  Exhibits

     The following exhibit is filed herewith:

     Exhibit
     Number                              Title
     -------                             -----

     99                   Certification  pursuant to 18 U.S.C. Section 1350, as
                          adopted pursuant to Section 906 of The Sarbanes-Oxley
                          Act of 2002.

     (b)  Reports on form 8-K

          None

                                       18
<PAGE>
                                   Signatures


In accordance with the requirements of the Securities  Exchange Act of 1934, the
registrant  caused  this  report to be signed on its  behalf by the  undersigned
thereunto duly authorized.


                                     PATAPSCO BANCORP, INC.



Date:  May 5, 2002                   /s/ Joseph J. Bouffard
                                     -----------------------------------------
                                     Joseph J. Bouffard
                                     President and Chief Executive Officer
                                     (Principal Executive Officer)




Date: May 5, 2002                    /s/ Michael J. Dee
                                     -----------------------------------------
                                     Michael J. Dee
                                     Chief Financial Officer & Controller
                                     (Principal Financial Officer)

                                       19
<PAGE>


                                  Certification


     I, Joseph J. Bouffard,  President and Chief  Executive  Officer of Patapsco
Bancorp, Inc., certify that:

1. I have reviewed  this  quarterly  report on Form 10-QSB of Patapsco  Bancorp,
Inc.;

2. Based on my  knowledge,  this  quarterly  report  does not contain any untrue
statement of a material fact or omit to state a material fact  necessary to make
the statements made, in light of the  circumstances  under which such statements
were made, not  misleading  with respect to the period covered by this quarterly
report;

3.  Based  on my  knowledge,  the  financial  statements,  and  other  financial
information  included in this quarterly  report,  fairly present in all material
respects the financial  condition,  results of operations  and cash flows of the
registrant as of, and for, the periods presented in this quarterly report;

4.  The  registrant's  other  certifying  officers  and  I are  responsible  for
establishing and maintaining  disclosure  controls and procedures (as defined in
Exchange Act Rules 13a-14 and 15d-14) for the registrant and have:

a) Designed  such  disclosure  controls and  procedures  to ensure that material
information relating to the registrant, including its consolidated subsidiaries,
is made known to us by others  within those  entities,  particularly  during the
period in which this quarterly report is being prepared;

b) Evaluated  the  effectiveness  of the  registrant's  disclosure  controls and
procedures  as of a date  within  90  days  prior  to the  filing  date  of this
quarterly report (the "Evaluation Date"); and

c) Presented in this quarterly report our conclusions about the effectiveness of
the  disclosure  controls  and  procedures  based  on our  evaluation  as of the
Evaluation Date;

5. The registrant's other certifying officers and I have disclosed, based on our
most recent evaluation,  to the registrant's auditors and the audit committee of
the  registrant's  board of  directors  (or persons  performing  the  equivalent
functions):

a) All significant  deficiencies in the design or operation of internal controls
which  could  adversely  affect the  registrant's  ability  to record,  process,
summarize and report  financial data and have  identified  for the  registrant's
auditors any material weaknesses in internal controls; and

b) Any  fraud,  whether  or not  material,  that  involves  management  or other
employees who have a significant role in the registrant's internal controls; and


6. The  registrant's  other  certifying  officers  and I have  indicated in this
quarterly  report  whether or not there  were  significant  changes in  internal
controls or in other factors that could  significantly  affect internal controls
subsequent to the date of our most recent  evaluation,  including any corrective
actions with regard to significant deficiencies and material weaknesses.

Date: May 5, 2003

                                          /s/ Joseph J. Bouffard
                                          --------------------------------------
                                          Joseph J. Bouffard
                                          President and Chief Executive Officer

                                       20
<PAGE>

                                  CERTIFICATION


     I,  Michael J. Dee,  Chief  Financial  Officer and  Controller  of Patapsco
Bancorp, Inc., certify that:

1. I have reviewed  this  quarterly  report on Form 10-QSB of Patapsco  Bancorp,
Inc.;

2. Based on my  knowledge,  this  quarterly  report  does not contain any untrue
statement of a material fact or omit to state a material fact  necessary to make
the statements made, in light of the  circumstances  under which such statements
were made, not  misleading  with respect to the period covered by this quarterly
report;

3.  Based  on my  knowledge,  the  financial  statements,  and  other  financial
information  included in this quarterly  report,  fairly present in all material
respects the financial  condition,  results of operations  and cash flows of the
registrant as of, and for, the periods presented in this quarterly report;

4.  The  registrant's  other  certifying  officers  and  I are  responsible  for
establishing and maintaining  disclosure  controls and procedures (as defined in
Exchange Act Rules 13a-14 and 15d-14) for the registrant and have:

a) Designed  such  disclosure  controls and  procedures  to ensure that material
information relating to the registrant, including its consolidated subsidiaries,
is made known to us by others  within those  entities,  particularly  during the
period in which this quarterly report is being prepared;

b) Evaluated  the  effectiveness  of the  registrant's  disclosure  controls and
procedures  as of a date  within  90  days  prior  to the  filing  date  of this
quarterly report (the "Evaluation Date"); and

c) Presented in this quarterly report our conclusions about the effectiveness of
the  disclosure  controls  and  procedures  based  on our  evaluation  as of the
Evaluation Date;

5. The registrant's other certifying officers and I have disclosed, based on our
most recent evaluation,  to the registrant's auditors and the audit committee of
the  registrant's  board of  directors  (or persons  performing  the  equivalent
functions):

a) All significant  deficiencies in the design or operation of internal controls
which  could  adversely  affect the  registrant's  ability  to record,  process,
summarize and report  financial data and have  identified  for the  registrant's
auditors any material weaknesses in internal controls; and

b) Any  fraud,  whether  or not  material,  that  involves  management  or other
employees who have a significant role in the registrant's internal controls; and

6. The  registrant's  other  certifying  officers  and I have  indicated in this
quarterly  report  whether or not there  were  significant  changes in  internal
controls or in other factors that could  significantly  affect internal controls
subsequent to the date of our most recent  evaluation,  including any corrective
actions with regard to significant deficiencies and material weaknesses.

Date: May 5, 2003


                                         /s/ Michael J. Dee
                                         --------------------------------------
                                         Michael J. Dee
                                         Chief Financial Officer and Controller


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