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, 2004

[   ]   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, 2004, the issuer had 460,833 shares of Common Stock issued and
outstanding.


<PAGE> 2

         CONTENTS
         --------
<TABLE>
<CAPTION>
                                                                                                        PAGE
                                                                                                        ----
<S>                                                                                                     <C>
PART I.  FINANCIAL INFORMATION
         ---------------------


Item 1.  Financial Statements

         Consolidated Statements of Financial Condition at March 31, 2004
                   And June 30, 2003                                                                      3

         Consolidated Statements of Income for the Nine and Three-Month Periods Ended
                  March 31, 2004 and 2003                                                                 4

         Consolidated Statements of Comprehensive Income for the Nine and Three-Month
                  Periods Ended March 31, 2004 and 2003                                                   5

         Consolidated Statements of Cash Flows for the Nine-Month Periods Ended
                  March 31, 2004 and 2003                                                                 6

         Notes to Financial Statements                                                                    7


Item 2.  Management's Discussion and Analysis of Financial Position and Results of Operations             10

Item 3:  Controls and Procedures                                                                          17


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


Item 1.  Legal Proceedings                                                                                18

Item 2.  Changes in Securities, Use of Proceeds, and Issuer Purchases of Equity Securities                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
</TABLE>

                                       2
<PAGE> 3

                      PATAPSCO BANCORP, INC. AND SUBSIDIARY
                                DUNDALK, MARYLAND

            CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION ($ 000's)
            --------------------------------------------------------
<TABLE>
<CAPTION>
                                                                        March  31,              June 30,
                                                                           2004                   2003
                                                                       (Unaudited)
                                                                       ------------             --------
<S>                                                                       <C>                    <C>

                             Assets
                             ------
Cash:
     On hand and due from banks                                          $    4,214          $      2,193
     Interest bearing deposits in other banks                                 4,059                 5,489
Federal funds sold                                                           10,337                 6,525
Investment securities, at fair value                                          8,369                 4,542
Mortgage-Backed securities, at fair value                                    14,978                19,844
Loans receivable, net                                                       114,506               113,252
Investment in securities required by law, at cost                             1,672                 1,318
Property and equipment, net                                                     969                   998
Goodwill                                                                      1,869                 1,869
Deferred income taxes                                                           447                   356
Accrued interest and other assets                                             2,995                 1,419
                                                                         ----------          ------------
              Total assets                                               $  164,415          $    157,805
                                                                         ==========          ============


                   Liabilities and Stockholders' Equity
                   ------------------------------------

Liabilities:
   Deposits:
        Interest bearing deposits                                        $  111,367           $   112,776
        Non interest bearing deposits                                         7,374                 6,879
   Borrowings                                                                26,900                20,174
   Accrued expenses and other liabilities                                     2,276                 2,071
                                                                         ----------           -----------
              Total liabilities                                             147,917               141,900

Temporary Equity - ESOP shares subject to put option                          1,339                   776

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                             1                     1
      share; 98,370 and 99,734 shares outstanding, respectively
Additional paid-in capital                                                    2,461                 2,495
   Common stock $0.01 par value: authorized 4,000,000
     shares: issued and outstanding 460,833 and
     412,634 shares, respectively                                                 5                     4
  Additional paid-in capital                                                  4,093                 3,082
   Contra equity - Employee stock ownership plan                                (55)                  (55)
      Contra equity - stock held by Rabbi Trust                                 (78)                  (78)
   Obligation under Rabbi Trust                                                 250                   250
   Retained income, substantially restricted                                  8,311                 9,070
   Unrealized net holding gains on available-for-sale
      portfolios, net of taxes                                                  171                   360
                                                                         ----------            ----------
               Total stockholders' equity                                    16,498                15,905
                                                                         ----------            ----------
              Total liabilities and stockholders' equity                 $  164,415            $  157,805
                                                                         ==========            ==========
</TABLE>

See accompanying notes to financial statements

                                        3
<PAGE> 4

                      PATAPSCO BANCORP, INC. AND SUBSIDIARY
                                DUNDALK, MARYLAND

                     CONSOLIDATED STATEMENTS OF OPERATIONS
                     -------------------------------------
                       ($ 000's except for per share data)
                       -----------------------------------
                                   (UNAUDITED)

<TABLE>
<CAPTION>
                                                                   For Nine Months Ended           For Three Months Ended
                                                                          March 31,                       March 31,
                                                             ---------------------------------  ------------------------------
                                                                   2004               2003           2004             2003
                                                                 ---------         ----------    ----------       -----------
<S>                                                                  <C>             <C>            <C>              <C>

Interest income:
    Loans receivable                                           $    6,422         $   6,995     $    2,134         $   2,225
    Mortgage-backed securities                                        788               701            251               287
    Investment                                                        280               231             87                60
    Federal funds sold and other interest
     bearing assets                                                    88               132             23                39
                                                               ----------         ---------     ----------         ---------
          Total interest income                                     7,578             8,059          2,495             2,611
                                                               ----------         ---------     ----------         ---------

Interest expense:
    Deposits                                                        1,828             2,194            567               688
    Borrowings & Other                                                917               860            300               292
                                                               ----------         ---------     ----------         ---------
          Total interest expense                                    2,745             3,054            867               980
                                                               ----------         ---------     ----------         ---------
          Net interest income                                       4,833             5,005          1,628             1,631
Provision for losses on loans                                          42               374             --               135
                                                               ----------         ---------     ----------         ---------
          Net interest income after provision
                   for losses on loans                              4,791             4,631          1,628             1,496
 Noninterest income:
    Fees and service charges                                          258               287             75                91
    Net gain on sales of securities                                    99               118             99               104
    Net gain on sales of loans                                         13                11             --                 6
    Net (loss) on sale of repossessed real estate                      --                (3)            --                --
    Other                                                              59                21             21                 5
                                                               ----------         ---------     ----------         ---------
        Total noninterest income                                      429               434            195               206
                                                               ----------         ---------     ----------         ---------

Noninterest expenses:
    Compensation and employee benefits                              2,110             2,038            704               692
    Insurance premiums                                                 54                54             20                18
    Professional fees                                                 186               295             60               122
    Equipment expense                                                 139               156             47                48
    Occupancy Expense                                                 157               154             50                52
    Advertising                                                        98                85             34                31
    Data processing                                                   162               164             54                57
    Other                                                             635               542            284               162
                                                               ----------         ---------     ----------         ---------
          Total noninterest expense                                 3,541             3,488          1,253             1,182
                                                               ----------         ---------     ----------         ---------
          Income before provision for income taxes                  1,679             1,577            570               520
Provision for income taxes                                            620               582            209               192
                                                               ----------         ---------     ----------         ---------
          Net Income                                           $    1,059         $     995     $      361         $     328
                                                               ==========         =========     ==========         =========
          Basic earnings per share                             $     1.99         $    1.88     $     0.68         $    0.61
                                                               ==========         =========     ==========         =========
          Diluted earnings per share                           $     1.68         $    1.63     $     0.57         $    0.53
                                                               ==========         =========     ==========         =========
          Dividends declared per common share                  $     0.48         $    0.42     $     0.16         $    0.14
                                                               ==========         =========     ==========         =========
</TABLE>

See accompanying notes to financial statements.

                                        4
<PAGE> 5
                      PATAPSCO BANCORP, INC. AND SUBSIDIARY
                                DUNDALK, MARYLAND

            CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME ($000's)
            --------------------------------------------------------
                                   (UNAUDITED)

<TABLE>
<CAPTION>

                                                                    For Nine Months Ended           For Three Months Ended
                                                                         March  31,                        March 31,
                                                                --------------------------       ------------------------------
                                                                  2004              2003            2004                 2003
                                                                --------          --------       ----------           ---------
 <S>                                                             <C>                  <C>            <C>                 <C>

Net income                                                      $ 1,059           $    995        $    361             $   328
Other comprehensive income, net of tax:
  Unrealized net holding (losses)/gains on
    available-for-sale portfolios                                  (128)               284             173                  41

Reclassification adjustment for gains
   Included in net income, net of tax                               (61)               (74)            (61)                (64)
                                                                -------           --------        --------             -------

Comprehensive income                                            $   870           $  1,205        $    473             $   305
                                                                =======           ========        ========             =======
</TABLE>


See accompanying notes to financial statements.

                                       5
<PAGE> 6
                      PATAPSCO BANCORP, INC. AND SUBSIDIARY
                                DUNDALK, MARYLAND

                 CONSOLIDATED STATEMENTS OF CASH FLOWS($ 000's)
                 ----------------------------------------------
                                  (UNAUDITED)
<TABLE>
<CAPTION>
                                                                                  For Nine Months Ended
                                                                                        March  31,
                                                                             -------------------------------
                                                                                2004                 2003
                                                                             ---------             ---------
<S>                                                                          <C>                   <C>

Cash flows from operating activities:
  Net income                                                                 $   1,059              $   995
  Adjustments to reconcile net income to net
    cash provided by operating activities:
       Depreciation                                                                143                   107
       Loss on sale of repossessed real estate                                      --                     3
       Gain  on sale of investment & mortgage-backed securities                    (99)                 (118)
       Gain on sale of loans held for sale                                         (13)                  (11)
       Proceeds from sale of loans held for sale                                 1,558                   916
       Disbursements of loans originated for sale                               (1,545)                 (905)
       Provision for losses on loans                                                42                   374
       Amortization of premiums and discounts, net                                  17                   (82)
       Deferred loan origination fees, net of costs                               (171)                  133
       Decrease in deferred taxes, other assets                                    109                    65
       Increase(Decrease)in accrued expenses and other liabilities                 205                 ( 172)
       Income from bank owned life insurance                                       (31)                   --
                                                                            -----------          ------------
  Net cash provided by operating activities                                      1,274                 1,305

Cash flows from investing activities:
  Loan principal repayments, net of disbursements                               (1,060)                5,111
  Purchase of property and equipment                                              (114)                  (89)
  Purchase of investment securities available-for-sale                          (5,015)               (1,190)
  Purchase of mortgage-backed securities available for sale                    (10,200)              (12,130)
  Proceeds from sale of repossessed real estate                                     --                   127
  Proceeds from maturity/redemption of investments available for sale            1,250                 2,773
  Proceeds from sale of mortgage-backed securities available for sale            6,972                    --
  Redemption of stock in Federal Home Loan Bank of Atlanta                         165                   360
  Purchase of Investments required by law                                         (519)                   --
  Purchase of bank owned life insurance                                         (1,600)                   --
  Principal repayment on mortgage-backed securities available for sale           7,724                 3,135
                                                                           ------------         -------------
        Net cash (used in)  investing activities                                (2,397)               (1,902)

Cash flows from financing activities:
  Net increase(decease)  in deposits                                              (897)                  233
  Borrowings                                                                    10,000                    --
  Repayment of borrowings                                                       (3,300)                   --
  Cash received in exercise of stock options                                        72                    16
  Dividends paid                                                                  (349)                 (307)
                                                                           ------------         -------------
         Net cash (used in) financing activities                                 5,526                   (57)

  Net increase(decrease) increase in cash and cash equivalents                   4,403                  (655)
  Cash and cash equivalents at beginning of period                              14,207                14,857
                                                                           ------------         -------------
  Cash and cash equivalents end of period                                  $    18,610          $     14,202
                                                                           ============         =============

Supplemental information:
  Interest paid on deposits and borrowed funds                                   2,745                 3,054
  Income taxes paid                                                                123                   516

</TABLE>

See accompanying notes to financial statements.

                                       6

<PAGE> 7

                      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, 2004 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 fair value.

Note 5:   Regulatory Capital Requirements

At March 31, 2004, the Company met each of the three minimum regulatory capital
requirements. The following table summarizes the Company's regulatory capital
position at March 31, 2004


<TABLE>
<CAPTION>

                                                                       ($ in thousands)
                                                                                                 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)                  $14,977         14.65%            $8,181          8.00%     $10,226           10.00%

Tier 1 Capital (to Risk
   Weighted Assets)                 $14,007         13.70%            $4,090          4.00%     $ 6,136            6.00%

Tier 1 Capital (to Average
    Assets)                         $14,007          8.63%            $6,490          4.00%     $ 8,112            5.00%

</TABLE>


                                       7

<PAGE> 8

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>

                                                    ($000'S EXCEPT FOR PER SHARE DATA)
                                             Nine Months Ended                          Three Months Ended
                                               March 31, 2004                              March 31, 2004
                                              Basic          Diluted                Basic              Diluted
                                        -------------------------------          -------------------------------
<S>                                      <C>                 <C>                    <C>                <C>

Net Income                                $ 1,059         $   1,059                $ 361             $  361
Preferred Stock Dividends                     138                --                   46                 --
                                          -------         ---------                -----             ------
Net Income Available to Common
 Stockholders                             $   921         $   1,059                $ 315             $  361
                                          =======         =========                =====             ======

Weighted average shares outstanding           463               463                  465                465
Diluted Securities:
  Preferred Stock                                               131                                     131
  Options                                                        36                                      38
-------------------------------------------------------------------------------------------------------------
Adjusted Weighted Average Shares               463              630                  465                634
                                          ========        =========                =====             ======

Per Share Amount                             $1.99            $1.68                $0.68              $0.57
</TABLE>
<TABLE>


                                                           ($000'S EXCEPT FOR PER SHARE DATA)
                                           Nine Months Ended                           Three Months Ended
                                             March 31, 2003                               March 31, 2003
                                       Basic               Diluted                   Basic              Diluted
                                      ----------------------------                  ---------------------------
<S>                                   <C>                  <C>                       <C>                <C>
Net Income                            $  995              $  995                     $ 328             $  328
Preferred Stock Dividends                141                   0                        47                  0
                                      ------              ------                     -----             ------
Net Income Available to Common
  Stockholders                        $  854              $  995                     $ 281             $  328
                                      ======              ======                     =====             ======

Weighted average shares outstanding      454                 454                       463                463

Diluted Securities:
  Preferred Stock                                            133                                          134
  Options                                                     24                                           24
-------------------------------------------------------------------------------------------------------------
Adjusted Weighted Average Shares         454                 611                       463                621
                                      ======              ======                     =====             ======
Per Share Amount                      $ 1.88               $1.63                     $0.61              $0.53
</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. In November
2003, the Company completed its annual test for goodwill impairment and
determined that goodwill was not impaired. The Company will review goodwill on
an annual basis for impairment and as events occur or circumstances change.

Note 8:  Stock Options

SFAS No. 148, "Accounting for Stock-Based Compensation", requires the Company to
make certain disclosures as if the fair value method of accounting had been
applied to the Company's stock option grants made subsequent to 1994.
Accordingly, no stock option based employee compensation cost is reflected in
net income, as all options granted under these plans had an exercise price equal
to the market value of the underlying common stock on the date of grant. The
following table illustrates the effect on net income and earnings per share if
the Company had applied the fair value recognition provisions of FASB Statement
No. 148.

                                       8

<PAGE> 9

<TABLE>
<CAPTION>


                                                        ($000'S EXCEPT FOR PER SHARE DATA)
                                                                Nine Months Ended
                                                        ----------------------------------
                                                        03/31/04                 03/31/03
                                                        --------                 --------
<S>                                                     <C>                      <C>
Net Income as reported                                  $1,059                   $  995
Deduct: Total stock option based employee
compensation expense determined under
fair value based method for all awards, net
of related tax effects                                     (20)                     (20)
                                                        -------                  ------
Proforma Net Income                                     $ 1,039                  $  975
                                                        =======                  ======
Earnings per share:

 Basic - as reported                                      $1.99                     $1.88
 Basic - pro forma                                         1.95                      1.84

 Diluted - as reported                                    $1.68                     $1.63
 Diluted - pro forma                                       1.65                      1.59

                                                        ($000'S EXCEPT FOR PER SHARE DATA)
                                                                THREE MONTHS ENDED
                                                        ----------------------------------
                                                        03/31/04                 03/31/03
                                                        --------                 --------

Net Income as reported                                  $ 361                    $  328
Deduct: Total stock option based employee
compensation expense determined under
fair value based method for all awards, net
of related tax effects                                     (6)                       (7)
                                                        -----                    ------
Proforma Net Income                                     $ 355                    $  321
                                                        =====                    ======
Earnings per share:

 Basic - as reported                                      $0.68                     $0.61
 Basic - pro forma                                         0.66                      0.59

 Diluted - as reported                                    $0.57                     $0.53
 Diluted - pro forma                                       0.56                      0.52
</TABLE>

Note: 9 Guarantees

The Company does not issue any guarantees that would require liability
recognition or disclosure, other than its standby letters of credit. Standby
letters of credit written are conditional commitments issued by the Company to
guarantee the performance of a customer to a third party. Generally, all letters
of credit, when issued have expiration dates within one year. The credit risk
involved in issuing letters of credit is essentially the same as those that are
involved in extending loan facilities to customers. The Company, generally,
holds collateral and/or personal guarantees supporting these commitments. The
Company had $975,000 of standby letters of credit as of March 31, 2004.
Management believes that the proceeds obtained through a liquidation of
collateral and the enforcement of guarantees would be sufficient to cover the
potential amount of future payment required under the corresponding guarantees.
The current amount of the liability as of March 31, 2004 for guarantees under
standby letters of credit issued is not material.

Note10:  Business Combination

On April 1, 2004, The Patapsco Bank acquired Parkville Federal Savings Bank
(Parkville), a federally chartered savings bank. Holders of outstanding shares
of Parkville received $62.51 per share in cash for each common share owned.

The combination was accounted for under the purchase method of accounting, and
accordingly, the net assets were recorded at their estimated fair values at the
date of acquisition, April 1, 2004. Fair value adjustments on the assets and
liabilities purchased are being amortized over the estimated lives of the
related assets and liabilities. The excess of the purchase price over the
estimated fair value of the underlying net assets of $1,600,000 was allocated to

                                       9

<PAGE> 10

goodwill, $1,100,000 and to the core deposit intangible, $500,000. The core
deposit intangible is being amortized over ten years using the straight line
method.

The following unaudited pro forma condensed consolidated financial information
reflects the results of operations of the Company for the year ended June 30,
2003 and for the nine months ended March 31, 2004 as if the transaction occurred
at the beginning of each period presented. These pro forma results are not
necessarily indictitive of what the Company's results of operations would have
been had the acquisition actually taken place at the beginning of each period
presented.

<TABLE>
<CAPTION>

                                           ($000S) EXCEPT FOR PER SHARE DATA
                                           ---------------------------------

                                         Year Ended            Nine Months Ended
                                        June 30,2003              March 31, 2004
                                        ------------              --------------
<S>                                       <C>                        <C>
Net Interest Income                       $8,332                     $5,970
Net Income                                 1,590                      1,199
Diluted net Income per share               $2.84                      $2.03
</TABLE>

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 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 consolidated financial statements are prepared in accordance with
accounting principles generally accepted in the United States of America
("GAAP") and follow general practices within the industry in which it operates.
Application of these principles requires management to make estimates,
assumptions, and judgments that affect the amounts reported in the financial
statements and accompanying notes. These estimates, assumptions, and judgments
are based on information available as of the date of the financial statements;
accordingly, as this information changes, the financial statements could reflect
different estimates, assumptions and judgments. Certain policies inherently have
a greater reliance on the use of estimates, assumptions, and judgments and as
such have a greater possibility of producing results that could be materially
different than originally reported. These estimates, assumptions and judgments
are necessary when financial instruments are required to be recorded at fair
value or when the decline in the value of an asset carried on the balance sheet
at historic cost requires an impairment write-down or a valuation reserve to be
established.

The allowance for loan losses is an estimate of the losses that may be sustained
in the loan and lease portfolio. 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 allowance for
loan losses is based on two principals of accounting: (1) Statement of Financial
Accounting Standards ("SFAS") No.5 "Accounting for Contingencies", that requires
losses to be accrued when their occurrence is probable and estimable, and (2)
SFAS

                                       10
<PAGE> 11

No. 114 "Accounting by Creditors for Impairment of a Loan", that requires losses
be accrued when it is probable that the lender will not collect all principal
and interest due under the original term of the loan.

Management believes that the allowance is adequate. However, its determination
requires significant judgment, and estimates of the probable losses in the loan
and lease portfolio can vary significantly from amounts that actually occur.

COMPARISON OF FINANCIAL CONDITION AT MARCH 31, 2004 AND JUNE 30, 2003

The Company's assets increased by $6.6 million or 4.2% to $164.4 million at
March 31, 2004 from $157.8 million at June 30, 2003. Cash and cash equivalents
increased by $4.4 million or 31.0% to $18.5 million at March 31, 2004 from $14.2
million at June 30, 2003. Investment securities increased by $3.8 million or 84%
as the purchase of these securities exceeded the maturity and redemption of
these securities. Mortgage-backed securities decreased by $4.9 million or 24.5%
as the sale of $7 million of these securities in the quarter and normal
amortization offset the $10 million purchase made in September 2003. Loans
increased by $1.2 million as new production offset declining payoffs in the
residential portfolio and increasing payoffs in the commercial portfolio as the
Company is not presently willing to meet certain of the loan terms being offered
by some of the competition. Other assets increased by $1.6 million primarily due
to the purchase of Bank-owned life insurance.

Interest bearing deposits have decreased by $1.4 million or 1.25% to $111.3
million from $112.7 million. This decrease was primarily in the certificate of
deposit category. Non-interest bearing deposits have increased by $0.5 million
or 7.2% to $7.4 million at March 31, 2004 from $6.9 million at June 30, 2003.
Borrowings increased by $6.7 million due to the $10 million used to purchase
mortgage-backed securities in September 2003 offset by $3.3 million in
maturities.

COMPARISON OF OPERATING RESULTS FOR THE QUARTERS AND NINE MONTHS ENDED MARCH 31,
2004 AND MARCH 31, 2003

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

The Company's net income increased by $33,000 or 10.1% to $361,000 for the
quarter ended March 31, 2004 from $328,000 for the quarter ended March 31, 2003.
The Company's net income increased by $64,000 or 6.5% to $1.1 million for the
nine months ended March 31, 2004 from $995,000 for the nine months ended March
31, 2003. The increase in the Company's net income during the comparable
three-month period is a result of higher net interest income after the provision
for loan losses exceeding lower non-interest income and 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 after provision
for loan losses exceeding the increase in operating expenses.

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

Total interest income decreased by $0.1 million or 4.5% to $2.5 million for the
quarter ended March 31, 2004 from $2.6 million for the quarter ended March 31,
2003. Total interest income decreased by $0.5 million or 6.0% to $7.6 million
for the nine months ended March 31, 2004 from $8.1 million for the nine months
ended March 31, 2003. 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 exceeding higher volumes of these assets. The
decrease in interest income in the comparable nine-month periods is also
primarily a result of lower rates earned on assets.

Interest income on loans receivable decreased by $0.1 million or 4.1% to $2.1
million for the quarter ended March 31, 2004 from $2.2 million for the quarter
ended March 31, 2003. Interest income on loans receivable decreased by $0.6
million or 8.2% to $6.4 million for the nine months ended March 31, 2004 from
$7.0 million for the nine months ended March 31, 2003. The decreases in loan
interest income in the comparable quarterly periods are primarily a result of
lower rates earned offsetting higher average balances. The decrease in loan
interest income in the comparable nine-month periods is primarily a result of
lower rates earned. Lower average balances outstanding also contributed to the
lower loan interest income.

Interest income on mortgage-backed securities decreased by $36,000 or 12.7% to
$251,000 in the comparable quarterly periods. Interest income on mortgage-backed
securities increased by $87,000 or 12.4% in the nine-months ended March 31,

                                       11

<PAGE> 12

2004 compared to the nine-months ended March 31, 2003. The decrease in the
quarterly period was due to lower rates offsetting slightly higher average
balances. The increase in the comparable nine-month periods results from higher
average volumes offsetting lower rates earned.

Interest income on investment securities held for sale increased by $27,000 or
45.54% to $87,000 in the three month period ended March 31, 2004 compared to the
three month period ended March 31, 2003 and increased $49,000 or 21.3% to
$280,000 in the nine-month period ended March 31, 2003 compared to the
nine-month period ended March 31, 2003. The increase in interest income in the
comparable quarterly and year-to-date periods is due to higher average volumes
offsetting lower rates.

Interest income on federal funds sold and other decreased by $16,000 or 41.7% to
$23,000 for the quarter ended March 31, 2004 from $39,000 for the quarter ended
March 31, 2003 as a result of both lower volumes and rates. The decrease in
interest income on federal funds sold and other investments of $44,000 or 33.5%
for the nine month period also resulted from both lower volumes and lower market
interest rates.

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

Total interest expense decreased by $113,000 or 11.6% to $0.9 million for the
quarter ended March 31, 2004 from $1.0 million for the quarter ended March 31,
2003. Total interest expense decreased by $0.3 million or 10.1% in the nine
months ended March 31, 2004 from the nine months ended March 31, 2003.  The
decreases were the result of lower rates paid on both deposits and borrowings
offset the higher average balance of borrowings.

Interest expense on deposits decreased by $121,000 or 17.5% to $0.6 million for
the quarter ended March 31, 2004 from $0.7 million for the quarter ended March
31, 2003. Interest expense on deposits decreased by $0.4 million or 16.7% to
$1.8 million from $2.2 million for the nine months ended March 31, 2003. The
decrease in interest expense on deposits in both the quarterly and nine-month
period is due to lower rates paid on deposits offsetting higher average
balances.

Interest expense on borrowings increased by $8,000 or 2.7% to $300,000 for the
quarter ended March 31, 2004 from $293,000 for the quarter ended March 31, 2003.
Interest expense on borrowings increased by $57,000 or 6.2% to $917,000 during
the nine months ended March 31, 2004 from $860,000 during the nine months ended
March 31, 2003. The increase in the comparable quarterly and nine-month periods
was due to higher average balances offsetting lower rates paid on outstanding
borrowings.


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

The Company's net interest income was unchanged at $1.6 million for the quarter
ended March 31, 2004 from $1.6 million in the quarter ended March 31, 2003. The
reduction of the net interest margin to 4.25% from 4.40% in the comparable
quarterly periods offset the higher average balances of interest earning assets.
The Company's net interest income decreased by $172,000 or 3.4% in the
none-month period ended March 31, 2004 when compared to the nine-month period
ended March 31, 2003. The net interest margin decreased by 38 basis points to
4.08% from 4.46% in the nine-months ended March 31, 2004 when compared to the
nine-month period ended March 31, 2003. The historical low level of interest
rates and intense competition for loans are the primary reasons for the
reduction in the net interest margin.


                                       12

<PAGE> 13

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                                   2004
                                                   -----------------------------------    -----------------------------------

                                                   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)                            113,525       $6,422       7.54%      $115,458        $6,995        8.07%
   Mortgage-backed securities                       23,918          788       4.39%        16,608           701        5.63%
   Investment securities                            10,109          280       3.69%         6,590           231        4.66%
   Federal funds sold and other
      interest-earning assets                       10,343           88       1.13%        10,813           132        1.62%
                                                  ---------      -------                 ---------       ------
Total interest earning assets                      157,895        7,578       6.40%       149,469         8,059        7.18%
                                                                                                         ------
Noninterest-earning assets                           7,409                                  5,858
                                                  ---------                              --------
Total Average Assets                              $165,304                               $155,327
                                                  =========                              ========

Interest-bearing liabilities:
Savings deposits                                  $112,033       $1,828       2.17%      $111,375        $2,194       2.62%
Borrowings                                          28,791          917       4.28%        22,113           860       5.18%
                                                  --------       -------                 ---------       ------
Total interest-bearing liabilities                 140,824        2,745       2.60%       133,488         3,054       3.05%
                                                                 -------    -------                      ------      ------
Noninterest-bearing liabilities                      8,448                                  6,642
                                                  --------                               --------
Total liabilities                                  149,272                                140,130
Stockholders' equity                                16,032                                 15,197
                                                  --------                               --------
    Total liabilities and stockholders' equity    $165,304                               $155,327
                                                  ========                               ========


Net interest income                                              $4,833                                  $5,005
                                                                 ======                                  ======
Interest rate margin                                                          4.08%                                    4.46%
                                                                            =======                                  =======
Net interest spread                                                           3.80%                                    4.14%
                                                                            =======                                  =======
Ratio of average interest-earning assets
  to average interest-bearing liabilities                                   112.12%                                  111.97%
                                                                            =======                                  =======
</TABLE>
-----------
(1) Yields and rates are annualized.
(2) Includes nonaccrual loans.

                                       13

<PAGE> 14

<TABLE>
<CAPTION>


                                                                        Three Months Ended March 31,
                                                  -------------------------------------------------------------------------
                                                                 2003                                2004
                                                  ----------------------------------    -----------------------------------
                                                  Average                   Average     Average                     Average
                                                  Balance      Interest      Rate(1)    Balance     Interest        Rate(1)
                                                  -------      --------     --------    -------     --------        -------
<S>                                               <C>           <C>        <C>         <C>            <C>          <C>
                                                                          (Dollars in thousands)
Interest-earning assets:
   Loans receivable (2)                           $115,576      $2,135       7.49%     $111,988       $2,225         8.06%
   Mortgage-backed securities                       22,203         251       4.58%       21,523          287         5.41%
   Investment securities                            10,402          87       3.38%        5,287           60         4.57%
   Federal funds sold and other
      interest-earning assets                        7,064          23       1.31%       11,398           39         1.40%
                                                  --------      ------                 --------       ------
Total interest earning assets                      155,247       2,495       6.52%      150,196        2,611         7.05%
                                                                ------                                ------
Noninterest-earning assets                           9,616                                6,097
                                                  --------                             --------
Total assets                                      $164,863                             $156,293
                                                  ========                             ========

Interest-bearing liabilities:
Savings deposits                                  $111,806      $  567       2.06%     $111,022       $  688         2.51%
Borrowings                                          27,178         300       4.41%       22,861          292         5.12%
                                                  --------      ------                 --------       ------
Total interest-bearing liabilities                 138,984         867       2.63%      133,883          980         2.97%
                                                                ------                                ------
Noninterest-bearing liabilities                      9,515                                6,943
                                                  --------                             --------
Total liabilities                                  148,499                              140,826
Stockholders' equity                                16,364                               15,467
                                                  --------                             --------
    Total liabilities and stockholders' equity    $164,863                             $156,293
                                                  ========                             ========


Net interest income                                             $1,628                                $1,631
                                                                ======                                ======
Interest rate margin                                                         4.25%                                   4.40%
                                                                          ========                                 =======
Net interest spread                                                          3.99%                                   4.08%
                                                                          ========                                 =======
Ratio of average interest-earning assets
  to average interest-bearing liabilities                                  111.70%                                 112.18%
                                                                          ========                                 =======
</TABLE>
-----------
(1) Yields and rates are annualized.
(2) Includes nonaccrual loans.


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 $0 for loan losses during the quarter ended March 31, 2004
and $135,000 in the quarter ended March 31, 2003. The Company provided $42,000
and $374,000 for loan losses during each of the nine-month periods ended March
31, 2004 and March 31, 2003. At March 31, 2004, non-performing loans totaled
$514,000 compared to $327,000 at June 30, 2003. The Company's allowance for loan
losses as a percentage of total loans outstanding, net of unearned origination
fees was 0.84% at March 31, 2004 compared to 1.00% at June 30, 2003.

                                       14
<PAGE> 15

Activity in the allowance for loan losses is as follows (dollars in thousands):

<TABLE>
<CAPTION>

                                                     Nine Months Ended      Three Months Ended
                                                     -----------------      ------------------
                                                                       March 31,
                                                                       ---------

                                                       2004       2003       2004      2003
                                                       ----       ----       ----      ----
<S>                                                   <C>        <C>        <C>       <C>
Allowance for loan losses, beginning of period        $1,139     $1,438     $1,115    $1,195

Provision for loan losses                                 42        374          0       135

Loans Charged Off:
         Consumer.                                       167        123         81        30
         Real Estate                                      40          0         40         0
         Commercial                                      128        709         57       286
                                                      ------     ------     -------   ------
  Total Charge-Offs                                      335        832        178       316

Recoveries:
         Consumer                                         47         29         30         7
         Real Estate                                       0          0          0         0
         Commercial                                       77         38          3        26
                                                      ------     ------     ------    ------
  Total Recoveries                                       124         67         33        33
                                                      ------     ------     ------    ------
Allowance for loan losses, end of period              $  970     $1,047     $  970    $1,047
                                                      ======     ======     ======    ======
</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,
                                                                  ------------       -----------
                                                                     2004               2003
                                                                   -------            -------
                                                                         (In thousands)
Loans accounted for on a non-accrual basis: (1)
<S>                                                               <C>               <C>
    Real estate:
       Residential.............................................   $     --          $      90
       Commercial..............................................         --                 --
       Construction............................................         --                 --
    Consumer...................................................         16                 44
    Commercial Loan/Lease......................................        498                193
                                                                  ---------         ----------
       Total...................................................   $    514          $     327
                                                                  =========         ==========

Accruing loans which are contractually past due
   90 days or more.............................................   $     --          $      --
                                                                  ---------         ----------
       Total...................................................   $     --          $      --
                                                                  ---------         ----------

       Total non-performing loans..............................   $    514          $     327
                                                                  =========         ==========

Percentage of total loans......................................       0.45%              0.29%
                                                                  =========         ==========
Other non-performing assets (2)................................   $      0          $      19
                                                                  =========         ==========
</TABLE>
-------------
(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.


                                       15
<PAGE> 16

At March 31, 2004, non-accrual commercial business loans consist of two loans to
the same borrower totaling $342,000. There is an SBA guarantee of $107,000.
Collateral consists of business assets and a second position on the primary
residence of the principals. The Company is working with the borrower and the
SBA to rectify the situation. Also included in commercial non-accrual are
$155,000 in equipment leases to six different borrowers. In the consumer loan
area, $12,000 of the $16,000 on non-accrual is in the hands of the bankruptcy
trustee and the Company is awaiting remittance.

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

The Company's non-interest income consists of deposit fees, service charges,
late fees and gains and losses on sales of securities, loans and repossessed
real estate. Total non-interest income decreased by $11,000 or 5.1% to $195,000
for the quarter ended March 31, 2004 from $206,000 for the quarter ended March
31, 2003. Total non-interest income decreased by $5,000 or 1.3% to $429,000
during the nine months ended March 31, 2004 from $434,000 during the nine months
ended March 31, 2003.

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

Total noninterest expenses increased by $70,000 or 6.0% to $1.3 million for the
quarter ended March 31, 2004 from $1.2 million for the quarter ended March 31,
2003. The largest dollar increase was other expense, the largest item of which
is a $50,000 reserve set up due to issues with the data processing conversion
that occurred midway into the quarter ended December 31, 2003.  The largest
decrease was in professional fees. Professional fees were high in the quarter
ended March 31, 2003, primarily as a result of legal fees associated with the
workout of two problem commercial loans. Total non-interest expense increased by
$53,000 or 1.5% to $3.5 million from $3.5 million during the nine months ended
March 31, 2004. As was the case in the comparable quarterly periods, the largest
increase was other expenses and the largest decrease was in professional fees.
Compensation expense increased by $72,000 or 3.6% in the comparable year to date
periods due to higher staffing levels, benefit costs and salaries.

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, 2004, the Company's cash on hand, interest-bearing deposits and Federal
funds sold totaled $18.6 million. In addition, the Company has approximately
$23.3 million of mortgage-backed and investment securities classified as
available-for-sale.

The Bank anticipates that it will have sufficient funds available to meet its
current loan commitments of $1.3 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, 2004
totaled $35.9 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 $460,000 for the payment of common and preferred dividends.

                                       16
<PAGE> 17

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, 2004,
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.

As a part of the acquisition of Parkville Federal Savings on April 1, 2004, the
Company borrowed $2,000,000 and invested most of the proceeds into the Bank.
This loan is interest only for one year, then requires quarterly principal
payments to fully amortize over six years.

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, 2004            June 30, 2003
                                              --------------            -------------
                                                   (dollars in thousands)
<S>                                                 <C>                     <C>
Commitments to originate new loans                $1,300                  $1,566
Undisbursed lines of credit                        6,330                   4,720
Financial standby letters of credit                  975                     958

</TABLE>

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


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

As of the end of the period covered by this report, management of the Company
carried out an evaluation, under the supervision and with the participation of
the Company's principal executive officer and principal financial officer, of
the effectiveness of the Company's disclosure controls and procedures. Based on
this evaluation, the Company's principal executive officer and principal
financial officer concluded that the Company's disclosure controls and
procedures are effective in ensuring that information required to be disclosed
by the Company in reports that it files or submits under the Securities Exchange
Act of 1934, as amended, is recorded, processed, summarized and reported, within
the time periods specified in the Securities and Exchange Commission's rules and
forms.

In addition, there have been no changes in the Company's internal control over
financial reporting (to the extent that elements of internal control over
financial reporting are subsumed within disclosure controls and procedures)
identified in connection with the evaluation described in the above paragraph
that occurred during the Company's last fiscal quarter, that has materially
affected, or is reasonably likely to materially affect, the Company's internal
control over financial reporting.

                                       17

<PAGE> 18



                           Part II. Other Information


Item 1.  Legal Proceedings

         None.

Item 2.  Changes in Securities, Use of Proceeds and Issuer Purchases of
         Equity Securities

         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
         -------                                     -----

31.1     Rule 13a-14(a) Certification of Chief Executive Officer
31.2     Rule 13a-14(a) Certification of Chief Financial Officer
32       Certification pursuant to 18 U.S.C. Section 1350


         (b) Reports on form 8-K

             The Company filed the following Current Reports on Form 8-K
         during the quarter ended March 31, 2004:

<TABLE>
<CAPTION>

                  Date of Report            Item(s) Reported       Financial Statements Filed
                  --------------            ----------------       --------------------------
                  <S>                             <C>                           <C>

                  January 26, 2004                12,7                          NA
                  January 9, 2004                 4,7                           NA

</TABLE>



                                       18

<PAGE> 19



                                   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 13, 2004                    /s/ Joseph J. Bouffard
                                      ------------------------------------------
                                      Joseph J. Bouffard
                                      President and Chief Executive Officer
                                      (Principal Executive Officer)




Date: May 13, 2004                     /s/ Michael J. Dee
                                       -----------------------------------------
                                       Michael J. Dee
                                       Chief Financial Officer & Controller
                                       (Principal Financial Officer)