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           December 31, 1999
                               -----------------------------------------------

                                       OR

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

For the transition period from                  to
                               ----------------    ---------------------

                        Commission file number 000-29257
                                               ---------

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


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

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

Registrant's telephone number, including area code    (609) 499-0355
                                                   -----------------

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

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

                      APPLICABLE ONLY TO CORPORATE ISSUERS:

         Indicate  the  number of  shares  outstanding  of each of the  issuer's
classes of common stock, as of the latest practicable date: February 11, 2000

             Class                                    Outstanding
------------------------------------                ---------------
$.10 par value common stock                         425,500 shares


<PAGE>
                          ROEBLING FINANCIAL CORP, INC.
                                   FORM 10-QSB
                     FOR THE QUARTER ENDED December 31, 1999

                                      INDEX

                                                                        Page
                                                                        Number
                                                                        ------

PART I -  FINANCIAL INFORMATION OF ROEBLING BANK

Item 1.  Financial Statements and Notes Thereto.........................1-6
Item 2.  Management's Discussion and Analysis of Financial
                  Condition and Results of Operations...................7-12

PART II - OTHER INFORMATION

Item 1.  Legal Proceedings..............................................  13
Item 2.  Changes in Securities..........................................  13
Item 3.  Defaults upon Senior Securities................................  13
Item 4.  Submission of Matters to a Vote of Security Holders............  13
Item 5.  Other Materially Important Events..............................  13
Item 6.  Exhibits and Reports on Form 8-K...............................  14

SIGNATURES


<PAGE>
                                  ROEBLING BANK
                        STATEMENTS OF FINANCIAL CONDITION
<TABLE>
<CAPTION>


                                                            December 31, September 30,
(Dollars in thousands)                                           1999       1999
                                                            ------------ -------------
                                                             (Unaudited)
<S>                                                          <C>         <C>
ASSETS
Cash and due from banks ...................................   $  2,429    $  2,836
Interest-bearing deposits .................................        147         737
                                                              --------    --------
     Total cash and cash equivalents ......................   $  2,576    $  3,573

FHLB Term deposits ........................................          0         250
Certificates of deposit ...................................        300         300
Securities available for sale .............................         25          24
Securities held to maturity ...............................      9,250       9,657
Loans receivable, net .....................................     37,873      35,745
Mortgage-backed securities held to maturity, net ..........      5,963       6,294
Accrued interest receivable ...............................        383         375
Federal Home Loan Bank of New York stock, at cost
  substantially restricted ................................        294         294
Premises and equipment ....................................      1,071       1,087
Real estate owned .........................................        116         211
Other assets ..............................................        197          69
                                                              --------    --------
     TOTAL ASSETS .........................................   $ 58,048    $ 57,879
                                                              ========    ========

LIABILITIES AND STOCKHOLDERS' EQUITY
Liabilities:
Deposits ..................................................   $ 50,892    $ 50,036
Borrowings ................................................      1,222       2,125
Advances from borrowers for taxes and insurance ...........        454         419
Accrued interest payable ..................................         43          49
Other liabilities .........................................        387         304
                                                              --------    --------
     Total liabilities ....................................     52,998      52,936
                                                              --------    --------

Commitments and contingencies .............................          0           0
                                                              --------    --------

Stockholders' Equity:
Preferred Stock, no par value, 1,000,000 shares authorized;
 none issued ..............................................          0           0
Common Stock, $0.10 par value; 4,000,000 shares authorized;
  425,500 issued at December 31, 1999 .....................         43          43
Additional paid-in capital ................................      1,654       1,652
Retained earnings - substantially restricted ..............      3,461       3,360
Unallocated Common Stock acquired by the ESOP .............       (122)       (125)
Accumulated other comprehensive income ....................         14          14
                                                              --------    --------

 Total Stockholders' Equity ...............................      5,050       4,943
                                                              --------    --------
     TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY ...........   $ 58,048    $ 57,879
                                                              ========    ========
</TABLE>

See notes to unaudited financial statements

                                        1

<PAGE>
                                  ROEBLING BANK
                  STATEMENTS OF INCOME AND COMPREHENSIVE INCOME
                                   (Unaudited)
<TABLE>
<CAPTION>

                                                                    For the Three Months Ended
(Dollars in thousands)                                                      December 31,
                                                                            ------------
                                                                            1999   1998
                                                                            -----  -----
<S>                                                                        <C>    <C>
Interest income:
  Loans receivable ......................................................   $702   $583
  Securities available for sale .........................................      0      2
  Securities held to maturity ...........................................    153    143
  Mortgage-backed and related securities held to maturity ...............     81     22
  Other interest earning assets .........................................     20     49
                                                                            ----   ----
      Total interest income .............................................    956    799
                                                                            ----   ----
Interest expense:
  Deposits ..............................................................    355    336
  Borrowed funds ........................................................     11      3
                                                                            ----   ----
      Total interest expense ............................................    366    339
                                                                            ----   ----
Net interest income before provision for loan losses ....................    590    460
Provision for loan losses ...............................................      7      1
                                                                            ----   ----
     Net interest income after provision for loan losses ................    583    459
                                                                            ----   ----
Non-interest income:
  Loan service charges and late charges .................................     32     38
  Account servicing and other ...........................................     77     52
  Gain (loss) on sale of interest earning assets ........................      0      5
                                                                            ----   ----
     Total non-interest income ..........................................    109     95
Non-interest expense:
  Compensation and benefits .............................................    282    238
  Occupancy and equipment ...............................................     43     43
  Service bureau and data processing ....................................     86     64
  Federal insurance premiums ............................................      7      5
  Other expense .........................................................    108     89
  Loss on sale of interest earning assets, net ..........................      0      4
  Loss on sale of foreclosed real estate ................................      0      0
                                                                            ----   ----
     Total non-interest expense .........................................    526    441
                                                                            ----   ----
     Income before provision for income taxes ...........................    166    111
Provision for income taxes ..............................................     65     43
                                                                            ----   ----
      Net income ........................................................    101     68
                                                                            ----   ----
Other Comprehensive income, net of tax:
      Unrealized (loss) gain on securities available for sale, net of tax      0      3
                                                                            ----   ----
Comprehensive income ....................................................   $101   $ 71
                                                                            ====   ====

Basic earnings per share ................................................  $0.24  $0.17
                                                                            ====   ====
Fully diluted earnings per share ........................................  $0.24  $0.17
                                                                            ====   ====
</TABLE>

See notes to unaudited financial statements.

                                        2
<PAGE>
                                  ROEBLING BANK
                            STATEMENTS OF CASH FLOWS
                                   (Unaudited)
<TABLE>
<CAPTION>
                                                                                              For the Three Months Ended
(Dollars in thousands)                                                                              December 31,
                                                                                          --------------------------------
                                                                                            1999                    1998
                                                                                          --------                 -------
<S>                                                                                       <C>                      <C>
Cash flows from operating activities:
  Net income..............................................................                   $101                     $67
  Adjustments to reconcile net income to net cash
    provided by operating activities:
    Depreciation..........................................................                     16                      20
    Amortization of premiums (discounts) on investment
      securities held to maturity.........................................                      5                       1
    Amortization of premiums on mortgage-backed securities................                      3                       9
    Provision for loan losses.............................................                      7                       1
    (Gain) Loss on sale of loans..........................................                      0                      (1)
    Loss on sale of foreclosed real estate................................                      0                       0
    Decrease (increase) in other assets...................................                   (128)                    (16)
    Decrease (increase) in interest receivable............................                     (8)                    (15)
    Increase (decrease) in interest payable...............................                     (7)                     (3)
    Increase (decrease) in accounts payable and accrued expenses..........                      8                      28
    Increase (decrease) in advance payments by
      borrowers for taxes and insurance...................................                     35                      10
    Increase (decrease) of other liabilities........                                           75                       0
    Amortization of ESOP shares                                                                 5                       2
                                                                                          --------                 -------
         Net cash provided by operations .................................                    112                     103
                                                                                          --------                 -------
Cash flows from investing activities:
  Net (increase) decrease in FHLB term deposits...........................                    250                    (464)
  Proceeds from sale of foreclosed property...............................                     94                       0
  Proceeds from maturities of held to maturity securities.................                    400                   2,464
  Proceeds from sale of loans.............................................                      0                     755
  Purchase of held to maturity securities.................................                      0                  (2,566)
  Loans originated, net of principal repayments...........................                 (2,138)                 (3,004)
  Repayment of mortgage-backed securities held to maturity................                    333                     354
  Purchase of premises and equipment......................................                      0                      (1)
  Purchase of mortgage-backed securities..................................                      0                    (605)
         Net cash provided by (used in) investing activities..............                 (1,061)                 (3,067)
                                                                                          --------                 -------
Cash flows from financing activities:
  Net increase (decrease) in demand deposits, NOW and savings accounts....                    765                   3,250
  Net increase (decrease) in certificates of deposit......................                     91                     334
  New Borrowings..........................................................                  1,100                       0
  Repayment Borrowings....................................................                 (2,004)                     (4)
                                                                                          --------                 -------
        Net cash provided by (used in) financing activities...............                    (48)                  3,582
                                                                                          --------                 -------
Net increase (decrease) in cash and due from banks........................                   (997)                    616
Cash and due from banks at beginning of period............................                  3,573                   2,009
                                                                                          --------                 -------
Cash and due from banks at end of period..................................                $ 2,576                 $ 2,625
                                                                                           =======                  =======
Supplemental Disclosures
------------------------
Cash paid for:
  Interest................................................................                  $ 458                   $ 336
                                                                                            =====                   =====
  Income taxes............................................................                   $ 23                    $ 44
                                                                                             ====                    ====
Transfers from loans to real estate acquired through foreclosure..........                    $ 0                     $ 0
                                                                                              ===                     ===
</TABLE>

                   See notes to unaudited financial statements.

                                        3
<PAGE>
                                  ROEBLING BANK
                  STATEMENT OF CHANGES IN STOCKHOLDERS' EQUITY

<TABLE>
<CAPTION>
                                                              Unallocated                      Accumulated
                                              Additional      Common Stock                       Other
                                Common         Paid in      acquired by the    Retained      Comprehensive
                                Stock          Capital            ESOP         Earnings          Income       Total
                                -----          -------            ----         --------          ------       -----

<S>                              <C>           <C>             <C>              <C>                <C>      <C>
Balance as of 9/30/99              $43           $1,652          ($125)           $3,360             $14      $4,944

Comprehensive Income                 0                0               0              101               0         101

Amortization of ESOP
shares                               0                2               3                0               0           5

Balance as of 12/31/99             $43           $1,654          ($122)           $3,461             $14      $5,050
                                   ===           ======          ======           ======             ===      ======

</TABLE>

                                        4

<PAGE>
                                  ROEBLING BANK
                     NOTES TO UNAUDITED FINANCIAL STATEMENTS

NOTE 1 - BASIS OF PRESENTATION

The accompanying  unaudited  consolidated  financial statements of Roebling Bank
(the "Bank") have been prepared in accordance with instructions for form 10-QSB.
Accordingly,  they do not include all of the information and footnotes  required
by generally accepted accounting  principles for complete financial  statements.
However, such information presented reflects all adjustments  (consisting solely
of normal  recurring  adjustments)  which  are,  in the  opinion  of the  Bank's
management, necessary for a fair statement of results for the interim period. As
discussed  in Note 6, the Bank became the wholly  owned  subsidiary  of Roebling
Financial Corp, Inc. on January 29, 2000.

The results of operations  for the three months ended  December 31, 1999 are not
necessarily  indicative  of the  results  to be  expected  for the  year  ending
September 30, 2000 or any other period.  The  unaudited  consolidated  financial
statements  and notes  thereto  should be read in  conjunction  with the audited
financial statements and notes thereto for the year ended September 30, 1999.

NOTE 2 - EARNINGS PER SHARE

Earnings per share are  computed by dividing net income by the weighted  average
number of common shares outstanding  during the period.  Such shares amounted to
413,152 for the period  ended  December  31,  1999.  Shares  outstanding  do not
include  shares of Bank Common Stock  purchased and held by the Bank's  employee
stock ownership plan ("ESOP") and  unallocated  during the period ended December
31, 1999, in accordance with SOP 93-6 "Employer's  Accounting for Employee Stock
Ownership Plans."

NOTE 3 - EMPLOYEE STOCK OWNERSHIP PLAN ("ESOP")

In connection with the Reorganization,  the Bank formed an ESOP. The ESOP covers
employees  who  have  completed  at  least  1,000  hours  of  service  during  a
twelve-month  period and have attained the age of 21. The ESOP borrowed $156,800
from an independent  third party lender to fund the purchase of 15,680, or 8.0%,
of the shares of Bank common stock sold in the minority stock offering. The loan
to the ESOP will be repaid from scheduled  discretionary cash contributions from
the Bank  sufficient  to  service  the debt over a ten-year  period.  Shares are
released  and  allocated  to the  participants  on the  basis of a  compensation
formula.  Compensation  expense  related to the ESOP for the three  months ended
December 31, 1999 was $5,986.

NOTE 4 - ADOPTION OF NEW ACCOUNTING STANDARD

In  June  1998,  the  FASB  issued  SFAS  No.  133,  Accounting  for  Derivative
Instruments  and Hedging  Activities.  SFAS No. 133  establishes  accounting and
reporting standards for derivative  instruments and for hedging  activities.  It
requires  that  an  entity   recognize  all  derivatives  as  either  assets  or
liabilities in the statement of financial position and measure those instruments
at fair value. In addition, certain provisions of this statement will permit, at
the  date  of  initial   adoption  of  SFAS  No.  133,   the   transfer  of  any
held-to-maturity   security  into  either  the   available-for-sale  or  trading
category.  Transfers from the held-to-maturity  portfolio at the date of initial
adoption  will not call into  question  the  entity's  intent to hold other debt
securities  to maturity in the future.  SFAS No. 133 is effective for all fiscal
quarters of fiscal years  beginning  after June 15, 2000, and is not expected to
have a material impact on the Bank,  which does not intend to adopt SFAS No. 133
earlier than

                                        5

<PAGE>

required.

NOTE 5 - STOCK-BASED COMPENSATION PLANS

On January 25, 1999, the stockholders of the Bank approved the 1998 Stock Option
Plan  (the  "Stock  Option  Plan")  and the  1998  Restricted  Stock  Plan  (the
"Restricted Stock Plan").

The Stock Option Plan  provides for  authorizing  the issuance of an  additional
19,596  shares of common  stock by the Bank upon the  exercise of stock  options
awarded to  officers,  directors,  key  employees  and other  persons  providing
services to the Bank. The Bank may also purchase shares through the open market.
The 19,596  shares of options  granted  under the Stock  Option Plan  constitute
either  Incentive  Stock Options or  Non-Incentive  Stock Options.  Common stock
issuable  pursuant to  outstanding  options will be considered  outstanding  for
purposes of calculating earnings per share, if dilutive.

The  Restricted  Stock Plan  provides for the purchase of 7,838 shares of common
stock  in the open  market.  All of the  Common  Stock  to be  purchased  by the
Restricted  Stock  Plan  will be  purchased  at the fair  market  or at value of
authorized  but unissued  shares of such stock on the date of  purchase.  Awards
under the  Restricted  Stock Plan were made in  recognition  of expected  future
services to the Bank by its  directors,  officers and key employees  responsible
for  implementation of the policies adopted by the Bank's Board of Directors and
as a means of providing a further retention  incentive.  The expense of the plan
will be accrued as shares vest over a four-year period beginning February 1999.

NOTE 6 - APPROVAL OF AN AGREEMENT AND PLAN OF REORGANIZATION

At  the  Annual  Meeting  of  Stockholders  on  January  25,  1999,  the  Bank's
Stockholders  approved an Agreement  and Plan of  Reorganization  ("the Plan" or
"Reorganization"),  providing for the  establishment of a mid-tier stock holding
company.  The Plan provided for the  establishment  of Roebling  Financial Corp,
Inc. (the Mid-Tier Stock Holding  Company) as a stock holding  company parent of
the Bank; the stock holding company will be majority owned by Roebling Financial
Corp., MHC, the Bank's mutual holding company.  The former holders of the common
stock of the Bank became  stockholders of Roebling Financial Corp, Inc. and each
outstanding  share of common  stock  (par value $.10 per share) of the Bank were
converted  into shares of common stock of Roebling  Financial  Corp,  Inc. on  a
one-for-one  basis.  The  Reorganization  was  completed  on January  31,  2000.
Effective  January 31,  2000,  Roebling  Financial  Corp,  Inc.'s  common  stock
replaced the Bank's common stock on the OTC Bulletin Board.  Roebling  Financial
Corp, Inc.'s common stock trades under the Bank's old symbol "ROEB".



                                        6
<PAGE>
                                  ROEBLING BANK
                     MANAGEMENT'S DISCUSSION AND ANALYSIS OF
                  FINANCIAL CONDITION AND RESULTS OF OPERATIONS
                  ---------------------------------------------

General

         The Bank  attracts  deposits  from the  general  public  and uses  such
deposits primarily to invest in one- to four-family residential mortgages, small
business  loans and home  equity  loans,  as well as  mortgage-backed  and other
securities.  The principal sources of funds for the Bank's lending and investing
activities are deposits,  the repayment and maturity of loans and sale, maturity
and call of  securities,  and FHLB advances.  The principal  source of income is
interest  on  loans  and  mortgage-backed  and  investment  securities  and  the
principal expenses are interest paid on deposits and general operations.

         Since  October  2,  1997,  the Bank has  operated  under the  federally
chartered  mutual  holding  company  of  Roebling   Financial  Corp.,  MHC  (the
"Company").  The Company owns  approximately  54% (229,540 shares) of the Bank's
outstanding  Common Stock, with the remaining shares owned by the general public
and  the  Bank's  Employee  Stock   Ownership   Plan.   Pursuant  to  applicable
regulations,  the  Company is required to own more than a majority of the Common
Stock,  and  therefore  the Company is able to elect the Board of Directors  and
otherwise direct the affairs of the Bank.  Voting and liquidation  rights in the
Company are held by the  depositors  of the Bank.  Accordingly,  the  depositors
indirectly  control  the affairs of the Bank as a result of their  authority  to
direct the Board of Directors and otherwise  control the affairs of the Company.
Any conversion of the Company to stock form would  require,  among other things,
the approval of qualifying  depositors of the Bank. See, however,  Note 6 to The
Unaudited Financial Statements.

The Management Discussion and Analysis section of this document contains certain
forward-looking  statements  (as  defined in the Private  Securities  Litigation
Reform Act of 1995).  These  forward-looking  statements  may involve  risks and
uncertainties.  Although management believes that the expectations  reflected in
such forward-looking  statements are reasonable,  actual results may differ from
the results in these forward-looking statements.

Comparison of Financial Condition and Earnings

         Overview.  The Bank reported net income of $101,000 for the three-month
period  ended  December  31,  1999,  compared  to net income of $68,000  for the
three-month period ended December 31, 1998. Net interest income before provision
for loan losses was $590,000,  which  represented an increase of $130,000 or 28%
over the same period of 1998. The increase is primarily due to greater  interest
income on the loan  portfolio  of  approximately  $119,000  and an  increase  in
interest income on held-to-maturity  investments and mortgage-backed  securities
amounting  to  $69,000,  partially  offset by  increased  interest  expenses  on
deposits due to volume.

         Total assets  amounted to $58.0 million at December 31, 1999,  compared
to $57.9 million at September  30, 1999,  representing  a $0.1 million  increase
since fiscal  year-end 1999. Net loans totaled $37.9  million,  representing  an
increase of $2.2  million  from the fiscal  year-end  balance of $35.7  million.
Total deposits increased $0.9 million to $50.9 million at December 31, 1999 from
the September 30, 1999 balance of $50.0  million.  Stockholders'  equity reached
$5.1 million at December 31, 1999 up slightly

                                        7

<PAGE>



from the September 30, 1999 balance of $4.9 million.

         In February 1998, the Bank purchased from an  unaffiliated  third-party
financial institution a building (including furniture and fixtures) and adjacent
paved  parking  area  located  in New  Egypt,  New Jersey  ("New  Branch").  The
deposits,  investments  or loans did not transfer to the Bank. The building cost
will be amortized over a 40-year period and the furniture, fixture and equipment
costs  will  be  amortized  over a 5- to  10-year  period.  The  Bank  completed
renovations  on the building for use as a branch office and opened the New Egypt
Branch in June 1998.

         While   management  does  not  believe  the  New  Branch  will  have  a
significant,  long-term,  adverse impact on its operations,  it is expected that
the New Branch will have a short-term  impact on its  performance  and financial
position  ratios,  as the Bank  invests  in capital  expenditures  to ensure the
smooth operation of the New Branch.

         Statements  concerning  future  performance,  developments,  or events,
concerning expectations for growth and market forecasts,  and any other guidance
on future periods,  constitute forward-looking statements which are subject to a
number of risks and  uncertainties,  including  interest rate  fluctuations  and
government  and  regulatory  actions which might cause actual  results to differ
materially from stated expectations or estimates.

         Net Interest  Income.  For the  three-month  period ended  December 31,
1999, the Bank reported net interest income before  provision for loan losses of
$590,000,  which  represents an increase of $130,000 or 28% over the same period
of 1998.  This is due to a  $119,000  increase  in  interest  income on the loan
portfolio.  The  increase in loan  interest  income and the increase in interest
income  on  held-to-maturity   investments  and  mortgage-backed  securities  of
$69,000,  was partially  offset by greater  interest  expense on borrowings  and
deposits due to an increase in deposit volume.

        The  average  yield on  investments  for the  three-month  period  ended
December 31, 1999 was 6.09%  compared to 5.99% for the same period of 1998.  The
average balance of all investments  increased slightly to a quarterly average of
$16.7  million for the  three-month  period  ended  December 31, 1999 from $16.0
million for the same period of 1998. The yield on the loan  portfolio  decreased
to 7.58% for the three- month period ended December 31, 1999,  compared to 7.80%
for the same  three-month  period of 1998.  The Bank's cost of  interest-bearing
liabilities  decreased to 3.36% for the  three-month  period ended  December 31,
1999,  compared  to 3.59%  for the same  three-month  period  of 1998.  This was
primarily due to an increase in non-interest bearing accounts,  as well as other
low-cost deposit products and changes in deposit mix.

         Other  Income.  Non-interest  income for the  three-month  period ended
December  31, 1999  increased  $14,000,  to $109,000  from  $95,000 for the same
period of 1998.  This was primarily due to increased  deposit account fee income
($21,000).

         Provision for Loan Losses. The Bank's management  continually  monitors
and adjusts its  allowance  for loan losses  based upon its analysis of the loan
portfolio. Provisions for losses on loans are charged to operations in an amount
that  results  in a  sufficient  allowance  for  loan  losses.  In  management's
judgement,  a  sufficient  allowance  for loan  losses  covers  losses  based on
management's  periodic  evaluation  of  known  and  inherent  risks  in the loan
portfolio,  past and  expected  future  loss  experience  of the  Bank,  current
economic conditions,  industry loss reserve levels, adverse situations which may
affect the

                                        8

<PAGE>



borrower,  the estimated  value of any underlying  collateral and other relevant
factors.  However, there can be no assurance that additions to the allowance for
loan losses will not be  required in future  periods or that actual  losses will
not exceed estimated amounts. The provision for loan losses for the three months
ended  December 31, 1999 increased to $7,000 from the  three-month  period ended
December 31, 1998 balance of $1,000, primarily due to management's evaluation of
the current  position of the loan  portfolio and coverage  ratio at December 31,
1999.

         Other Expense. Other expenses (also known as non-interest expenses) for
the  three-month  period  ended  December  31, 1999 were  $526,000,  compared to
$441,000 for the three-month period ended December 31, 1998.

         Salaries and employee  benefits  increased  $44,000 when  comparing the
three-month  periods. The salaries and employee benefits category is the largest
component of other  expenses,  encompassing  54% of total other expenses for the
three-month period ended December 31, 1999. The increase is primarily due to the
addition  of new loan  personnel  to manage  the bank's  loan  growth and annual
salary increases for current staff members.

         Net occupancy expense remained static at $43,000 when comparing the two
three-month periods.

         Data  processing  and service  bureau  fees were  $86,000 for the three
months ended December 31, 1999, compared to $64,000 for the same period in 1998.
This was as a result of increased  volume of deposit accounts and the processing
and transaction costs associated therewith.

         Federal  insurance  premiums  increased  to $7,000 for the three months
ended December 31, 1999,  compared to $5,000 for the same period in 1998.  Other
expense  for the  three-month  period  ended  December  31,  1999 was  $108,000,
compared to $89,000 for the same period in 1998.  This was primarily as a result
of increased Legal expense .

         Income Tax Expense.  The Bank's provision for income taxes increased to
$65,000 for the three  months ended  December 31, 1999,  compared to $44,000 for
the same period in 1998.  Provision  for income  taxes is accrued at the rate of
36% of pre-tax income after adjustments for permanent differences.


                                        9

<PAGE>

Liquidity and Regulatory Capital Compliance

         On  December  31,  1999,  the Bank  was in  compliance  with its  three
regulatory capital requirements as follows:

                                                    Amount               Percent
                                                    ------               -------
                                                      (Dollars in thousands)
Tangible capital........................            $5,033                8.67%
Tangible capital requirement............               870                1.50%
                                                      ----               -----
Excess over requirement.................            $4,163                7.17%
                                                     =====               =====

Core capital............................            $5,033                8.67%
Core capital requirement................             2,321                4.00%
                                                     -----               -----
Excess over requirement.................            $2,712                4.67%
                                                     =====                ====

Risk based capital......................            $5,213               14.97%
Risk based capital requirement..........             2,786                8.00%
                                                     -----                ----
Excess over requirement.................           $ 2,427                6.97%
                                                    ======               =====


         Management  believes  that  under  current  regulations,  the Bank will
continue to meet its minimum capital  requirements  in the  foreseeable  future.
Events  beyond the control of the Bank,  such as increased  interest  rates or a
downturn  in the  economy in areas in which the Bank  operates  could  adversely
affect  future  earnings  and as a result,  the  ability of the Bank to meet its
future minimum capital requirements.

         The Bank's  liquidity  is a measure of its ability to fund  loans,  pay
withdrawals of deposits, and other cash outflows in an efficient, cost effective
manner.  The  Bank's  primary  sources  of  funds  are  deposits  and  scheduled
amortization and prepayment of loan and  mortgage-backed  principal.  During the
past several years, the Bank has used such funds primarily to fund maturing time
deposits,  pay savings  withdrawals,  fund  lending  commitments,  purchase  new
investments,  and increase  liquidity.  The Bank is  currently  able to fund its
operations  internally.  Additionally,  sources of funds  include the ability to
utilize  advances from the FHLB of New York to supplement its supply of lendable
funds.  Advances from the FHLB of New York are typically  secured by a pledge of
the  Bank's  stock  in the  FHLB  of  New  York  and a  portion  of  the  Bank's
mortgage-backed  securities  portfolio.  The Bank, if the need arises,  may also
access the Federal  Reserve Bank  discount  window to  supplement  its supply of
lendable  funds and to meet  deposit  withdrawal  requirements.  At December 31,
1999,  the Bank had a $1.1 million FHLB  advance  Overnight  Line of Credit at a
rate of 5.10%.

         At December 31,  1999,  borrowed  money also  consisted of the Employee
Stock Ownership Plan debt bearing an interest rate equal to prime rate plus 37.5
basis points.  Interest is payable quarterly.  The loan requires equal quarterly
principal  installments  over a ten-year  period and  matures  during  2007.  At
December  31, 1999,  the Bank had $122,000 of borrowed  funds to fund ESOP share
purchases.

         Loan  payments,   maturing  investments  and  mortgage-backed  security
prepayments  are  greatly   influenced  by  general  interest  rates,   economic
conditions and competition.

                                       10

<PAGE>



         The Bank  anticipates  that it will have sufficient  funds available to
meet its current  commitments.  As of December 31,  1999,  the Bank had mortgage
commitments  to fund loans of $228,000.  Also, at December 31, 1999,  there were
commitments  on unused  lines of credit  relating to home  equity  loans of $4.0
million.  Certificates  of  deposit  scheduled  to mature in one year or less at
December 31, 1999 totaled $14.8 million. Based on historical deposit withdrawals
and outflows,  and on internal monthly deposit reports  monitored by management,
management  believes that a majority of such deposits will remain with the Bank.
As a result, no adverse liquidity effects are expected.

         The Bank is required  under  federal  regulations  to maintain  certain
specified  levels of "liquid  investments,"  which include certain United States
government  obligations  and other  approved  investments.  Current  regulations
require  the Bank to  maintain  liquid  assets  of not  less  than 4% of its net
withdrawable  accounts plus short term  borrowings.  Those levels may be changed
from time to time by the regulators to reflect current economic conditions.  The
Bank has maintained liquidity in excess of regulatory requirements.

Year 2000

         Like many financial  institutions,  we rely on computers to conduct our
business and information  systems  processing.  Industry  experts were concerned
that on January 1, 2000,  some computers  might not be able to interpret the new
year properly,  causing  computer  malfunctions.  Some banking  industry experts
remain  concerned  that some  computers may not be able to interpret  additional
dates in the year 2000  properly.  We have  operated and  evaluated our computer
operating  systems  following January 1, 2000 and have not identified any errors
or experienced any computer system malfunctions. We will continue to monitor our
information systems to assess whether our systems are at risk of misinterpreting
any future dates and will develop  appropriate  contingency plans to prevent any
potential system malfunction or correct any system failures. The Company has not
been informed of any such problem  experienced  by its vendors or its customers,
nor by any of the municipal agencies that provide services to the Company.

         Nevertheless,  it is too soon to  conclude  that  there will not be any
problems  arising  from  the  Year  2000  problem,  particularly  at some of the
Company's vendors.  The Company will continue to monitor its significant vendors
of goods and services  with respect to Year 2000  problems they may encounter as
those issues may affect the Company's ability to continue  operations,  or might
adversely  affect the Company's  financial  position,  results of operations and
cash  flows.  The  Company  does not  believe at this time that these  potential
problems  will  materially  impact the ability of the  company to  continue  its
operations, however, no assurance can be given that this will be the case.

         The expectations of the Company  contained in this section on Year 2000
are  forward-looking  statements  within the meaning of the  Private  Securities
Litigation  Reform Act of 1995 and involve  substantial  risks and uncertainties
that may cause actual results to differ  materially  from those indicated by the
forward-looking  statements.  All forward-looking statements in this section are
based on information available to the Company on the date of this document,  and
the Company assumes no obligation to update such forward-looking statements.

Impact of Inflation and Changing Prices

         The  financial  statements  of the Bank and  notes  thereto,  presented
elsewhere herein,  have been prepared in accordance with GAAP, which require the
measurement of financial position and operating

                                       11

<PAGE>



results in terms of historical  dollars  without  considering  the change in the
relative  purchasing  power of money over time due to  inflation.  The impact of
inflation is reflected in the increased  cost of the Bank's  operations.  Unlike
most industrial companies, nearly all the assets and liabilities of the Bank are
financial.  As a result,  interest  rates  have a greater  impact on the  Bank's
performance  than do the effects of general levels of inflation.  Interest rates
do not  necessarily  move in the same  direction  or to the same  extent  as the
prices of goods and services.

Additional Key Operating Ratios


                                               At or for Three Months Ended
                                                       December 31,
                                           ---------------------------------
                                               1999 (1)           1998 (1)
                                           ----------------  ---------------
Earnings per common share (2)...........      $ 0.24             $ 0.17
Return on average assets................        0.69%              0.55%
Return on average equity................        8.09%              5.74%
Interest rate spread....................        3.76%              3.56%
Net interest margin.....................        4.39%              4.13%
Noninterest expense to average assets...        0.90%              0.90%
Nonperforming assets to total assets....        0.71%              1.07%
Nonperforming loans to total loans......        1.12%              1.82%


                                          At December 31,       At December 31,
                                               1999                  1998
                                               -----                -----
Tangible book value per share ........        $11.87               $11.45


----------------
(1)      The ratios for the three-month period presented are annualized.
(2)      The average number of shares  outstanding during the three months ended
         December  31,  1999 was 413,152  basic,  421,874  diluted.  The average
         number of shares outstanding during the three months ended December 31,
         1998 was 411,584 basic.


                                       12

<PAGE>
                          ROEBLING FINANCIAL CORP, INC.

                                     PART II

ITEM 1.           LEGAL PROCEEDINGS

                  The Bank,  from time to time,  is a party to ordinary  routine
                  litigation,  which  arises in the normal  course of  business,
                  such as claims to enforce liens,  condemnation  proceedings on
                  properties in which the Bank holds security interests,  claims
                  involving the making and servicing of real property  loans and
                  other  issues  incident to the  business  of the Bank.  In the
                  opinion of management,  the resolution of these lawsuits would
                  not have a material adverse effect on the financial  condition
                  or results of operations of the Bank.

                  RKA   Corporation.   On  December  20,  1995,  the  plaintiffs
                  commenced this action against RKA Corporation  ("RKA") and the
                  Bank.  Cox v. RKA  Corporation  and Richard  Niel,  Docket No.
                  C-00164-95,  Superior Court, Chancery Division, Camden County,
                  New Jersey.  In this action,  the plaintiffs  sought to compel
                  RKA to  specifically  perform  under an  existing  real estate
                  contract.  The  principal  of RKA  filed  for  bankruptcy  and
                  plaintiffs  took  judgment  against  him  before the filing of
                  bankruptcy.  The  plaintiff  amended the complaint on March 8,
                  1996 to add the Bank as a party seeking to negate the mortgage
                  held by the Bank on the subject  property.  On March 19, 1997,
                  the  Court  held in  favor of the  plaintiffs  and  imposed  a
                  constructive  lien  senior to that held by the Bank.  The Bank
                  filed an appeal in the New Jersey Appellate  Division Harry W.
                  Cox v. RKA Corp., et al, Docket No. A-5089-96T1.  The Bank had
                  reserved  $80,000  against  the loan in  connection  with this
                  suit.

                  The case was argued on October 14,  1998,  and on December 24,
                  1998,  in a  split  decision,  the  Appellate  Division  ruled
                  against the Bank.  On February 23, 1999,  the Bank charged off
                  the loan in the  amount  of  $74,231  against  the  previously
                  reserved  allowance.  The Bank  filed an  appeal  with the New
                  Jersey Supreme Court on April 15, 1999, Docket No. 47,315. The
                  case was argued on October 25, 1999 and the Bank is awaiting a
                  ruling.

ITEM 2.           CHANGES IN SECURITIES

                  Not applicable.

ITEM 3.           DEFAULTS UPON SENIOR SECURITIES

                  Not applicable.

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

                  Not applicable.

ITEM 5.           OTHER MATERIALLY IMPORTANT EVENTS

                  See Note 6 of the Unaudited Financial Statements regarding the
                  Bank's stock holding company reorganization


                                       13

<PAGE>



ITEM 6.    EXHIBITS AND REPORTS ON FORM 8-K

           (a)    11.0    Earnings Per Share  Calculation  (see note 2 to
                          the   Notes  to  the   Unaudited   Consolidated
                          Financial Statements in this Form 10-QSB.
                  27.0    Financial Data Schedule (in electronic filing only)

           (b)    Not applicable







                                       14

<PAGE>


                          ROEBLING FINANCIAL CORP, INC.

                                   SIGNATURES


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


                                  ROEBLING FINANCIAL CORP, INC.




Date: February 14, 2000       By:    /s/Kent C. Lufkin
                                     -------------------------------------------
                                     Kent C. Lufkin
                                     President and Chief Executive Officer
                                     (Principal Executive Officer)



Date: February 14, 2000       By:    /s/John Y. Leacott
                                     -------------------------------------------
                                     John Y. Leacott
                                     Vice President and Chief Financial Officer
                                     (Principal Officer)