As filed with the Securities and Exchange Commission on May 17, 1999

                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                    FORM 10-Q

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

     For the quarterly period ended March 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: 0-23293


                         Warwick Community Bancorp, Inc.
             (Exact name of registrant as specified in its charter)


           Delaware                                              06-1497903
  (State or other jurisdiction                                (I.R.S. Employer
of incorporation or organization)                            Identification No.)

                       18 Oakland Avenue, Warwick, New York       10990-0591
                     (Address of principal executive offices)     (Zip code)

                                 (914) 986-2206
              (Registrant's telephone number, including area code)

     Indicate  by check mark  whether the  registrant  (1) has filed all reports
required to be filed by Section 13 or 15(d) of the  Securities  Exchange  Act of
1934  during  the  preceding  12 months  (or for such  shorter  period  that the
Registrant was required to file such reports),  and (2) has been subject to such
filing for the past 90 days.

                         Yes __X__             No _____

     As of May 10, 1999, there were 6,256,221 shares of the registrant's  common
stock outstanding.


<PAGE>


                                    FORM 10-Q
                         Warwick Community Bancorp, Inc.
                                      INDEX

<TABLE>
<CAPTION>
                                                                                Page
PART I C FINANCIAL INFORMATION                                                  Number
------------------------------                                                  ------
<S>                                                                             <C>  
Item 1.       Financial Statements -- Unaudited

              Consolidated Statements of Financial Condition at
              March 31, 1999 and December 31, 1998                                  3

              Consolidated Statements of Income for the three months
               ended March 31, 1999 and 1998                                        4

              Consolidated Statement of Changes in Equity for
               the three months ended March 31, 1999                                5

              Consolidated Statements of Cash Flows for the three
               months ended March 31, 1999 and 1998                                 6

              Notes to Unaudited Consolidated Financial Statements                7-9

Item 2.       Management's Discussion and Analysis of Financial
              Condition and Results of Operations                               10-16

Item 3.       Quantitative and Qualitative Disclosures about Market Risk           16

PART II C OTHER INFORMATION
---------------------------

Item 1.       Legal Proceedings                                                    16

Item 2.       Changes in Securities                                                16

Item 3.       Defaults Upon Senior Securities                                      16

Item 4.       Submission of Matters to a Vote of Security Holders                  17

Item 5.       Other Information                                                    17

Item 6.       Exhibits and Reports on Form 8-K                                     18

Signature Page                                                                     19

Exhibit Index                                                                      20
</TABLE>

================================================================================

Statements  contained  in this Form  10-Q  which  are not  historical  facts are
forward-looking  statements,  as that term is defined in the Private  Securities
Litigation  Reform Act of 1995. Such  forward-looking  statements are subject to
risks and  uncertainties  which could cause actual results to differ  materially
from those projected.  Such risks and uncertainties include, but are not limited
to, general economic conditions,  changes in interest rates, deposit flows, loan
demand,  real estate values and competition;  changes in accounting  principles,
policies or guidelines;  changes in legislation or regulation;  other  economic,
competitive,  governmental,  regulatory or technological  factors  affecting the
Company's operations,  pricing,  products and services; and other risks detailed
in documents  filed by the Company with the Securities  and Exchange  Commission
from time to time.

================================================================================


                                       2


<PAGE>


PART I --  FINANCIAL INFORMATION

Item 1.  Financial Statements -- Unaudited

                                WARWICK COMMUNITY BANCORP, INC. AND SUBSIDIARIES
                                 CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION
                                                     (Unaudited)

<TABLE>
<CAPTION>
                                                                                March 31, 1999       December 31, 1998
                                                                                --------------       -----------------
                                                                                     (Dollars in thousands)
                        ASSETS
<S>                                                                                <C>                   <C>      
Cash on hand and in banks .....................................................    $   9,723             $  10,511
Securities:
       Available-for-sale, at fair value ......................................      165,338               149,491
       Held-to-maturity, at amortized cost (fair value of
       $1,074 at March 31, 1999 and $5,968 at December 31, 1998) ..............        1,075                 5,999
                                                                                   ---------             ---------
         Total securities .....................................................      166,413               155,490
                                                                                   ---------             ---------
Mortgage loans, net ...........................................................      210,552               208,706
Commercial loans ..............................................................       38,998                35,293
Consumer loans ................................................................       22,356                19,191
                                                                                   ---------             ---------
         Total loans ..........................................................      271,906               263,190
Allowance for loan losses .....................................................       (1,835)               (1,727)
                                                                                   ---------             ---------
         Total loans, net .....................................................      270,071               261,463
                                                                                   ---------             ---------
Accrued interest receivable ...................................................        2,359                 2,506
Federal Home Loan Bank stock ..................................................        5,758                 4,633
Bank premises & equipment, net ................................................        6,279                 6,173
Other assets ..................................................................        7,521                 4,363
                                                                                   ---------             ---------
         Total assets .........................................................    $ 468,124             $ 445,139
                                                                                   =========             =========

             LIABILITIES AND STOCKHOLDERS' EQUITY
Liabilities:
    Deposits:
    NOW and money market ......................................................    $  58,628             $  59,815
    Savings ...................................................................       84,863                82,696
    Certificates of deposit ...................................................       72,624                70,995
    Non-interest bearing checking .............................................       29,697                33,380
                                                                                   ---------             ---------
             Total depositor accounts .........................................      245,812               246,886
    Mortgage escrow funds .....................................................        1,786                 1,965
    Accrued interest payable ..................................................          831                   736
    Securities sold under agreements to repurchase ............................       25,310                25,310
    FHLB advances .............................................................      108,500                79,480
    Other liabilities .........................................................        6,807                 6,525
                                                                                   ---------             ---------
             Total liabilities ................................................      389,046               360,902
                                                                                   ---------             ---------

                       STOCKHOLDERS' EQUITY
    Preferred stock, $.01 par value; 5,000,000 authorized; none
        issued ................................................................           --                    --
    Common stock, $.01 par value; 15,000,000 shares authorized;
        6,606,548 shares issued; 6,276,221 and 6,606,548 shares
        outstanding as of March 31, 1999 and December 31, 1998,
        respectively ..........................................................           66                    66
    Additional paid-in capital ................................................       63,368                63,374
    Retained earnings .........................................................       31,175                30,458
    Accumulated other comprehensive income, net ...............................          409                 1,727
    Unearned ESOP common stock ................................................       (7,130)               (7,208)
    Unearned RRP common stock .................................................       (3,951)               (4,180)
                                                                                   ---------             ---------
                                                                                      83,937                84,237
    Treasury stock ............................................................       (4,859)                   --
                                                                                   ---------             ---------
             Total stockholders' equity .......................................       79,078                84,237
                                                                                   ---------             ---------
             Total liabilities and stockholders' equity .......................    $ 468,124             $ 445,139
                                                                                   =========             =========
</TABLE>

            See accompanying Notes to Unaudited Financial Statements.


                                       3


<PAGE>



                WARWICK COMMUNITY BANCORP, INC. AND SUBSIDIARIES
                        CONSOLIDATED STATEMENTS OF INCOME
                                   (Unaudited)

<TABLE>
<CAPTION>
                                                                                  For the Three Months
                                                                                     Ended March 31,
                                                                              ------------------------------
                                                                               1999                    1998
                                                                              -------                -------
                                                                                (In thousands, except per
                                                                                      share amounts)
<S>                                                                           <C>                    <C>    
Interest Income:
     Interest on mortgage loans .........................................     $ 3,845                $ 2,708
     Interest on other loans ............................................       1,164                    952
     Interest and dividends on securities ...............................       2,570                  2,624
     Interest on federal funds sold .....................................          --                     70
     Interest on short-term money market instruments ....................           5                     10
                                                                              -------                -------
          Total interest income .........................................       7,584                  6,364
                                                                              -------                -------

Interest Expense:
     Time deposits ......................................................         838                    930
     Money market deposits ..............................................         327                    200
     Savings deposits ...................................................         683                    613
     Mortgagors' escrow deposits ........................................          30                     15
     Borrowed funds .....................................................       1,559                    696
                                                                              -------                -------
          Total interest expense ........................................       3,437                  2,454
                                                                              -------                -------
          Net interest income ...........................................       4,147                  3,910
                                                                              -------                -------

Provision for Loan Losses ...............................................        (125)                  (125)
                                                                              -------                -------
     Net interest income after provision for loan losses ................       4,022                  3,785
                                                                              -------                -------

Other Income (Loss):
     Service and fee income .............................................         617                    558
     Securities transactions ............................................         579                    193
     Loan transactions ..................................................          31                     17
     Other income or (loss) .............................................         130                      4
                                                                              -------                -------
          Total other income, net .......................................       1,357                    772
                                                                              -------                -------

Other Expenses:
     Salaries and employee benefits .....................................       1,829                  1,459
     ESOP benefits ......................................................          72                     99
     BRP and RRP benefits ...............................................         272                     46
     FDIC insurance .....................................................           8                      7
     Occupancy ..........................................................         342                    308
     Data processing ....................................................         247                    163
     Advertising ........................................................         134                     22
     Professional fees ..................................................          80                    201
     Other ..............................................................         669                    555
                                                                              -------                -------
          Total other expenses ..........................................       3,653                  2,860
                                                                              -------                -------

     Income before provision for income taxes ...........................       1,726                  1,697
Provision for Income Taxes ..............................................         727                    705
                                                                              -------                -------
     Net income .........................................................     $   999                $   992
                                                                              =======                =======
Weighted Average:
     Common shares ......................................................       5,751                  6,109
     Dilutive stock options .............................................          --                     --
                                                                              -------                -------
                                                                                5,751                  6,109
                                                                              =======                =======
Earnings per Share:
     Basic ..............................................................     $  0.17                $  0.16
                                                                              =======                =======
     Diluted ............................................................     $  0.17                $  0.16
                                                                              =======                =======
</TABLE>


            See accompanying Notes to Unaudited Financial Statements.


                                       4


<PAGE>


               WARWICK COMMUNITY BANCORP, INC. AND SUBSIDIARIES
                  CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY
                                   (Unaudited)

<TABLE>
<CAPTION>
                                                                        Accumulated  Unallocated  Unearned
                                                Additional                 Other       Common      Common
                                      Common      Paid In    Retained  Comprehensive Stock Held  Stock Held  Treasury  Comprehensive
                                       Stock      Capital    Earnings   Income, net    by ESOP      by RRP      Stock      Income
                                       -----      -------    --------   -----------    -------      ------      -----      ------
                                                                          (In thousands)
<S>                                   <C>        <C>         <C>         <C>          <C>         <C>         <C>         <C>
BALANCE, December 31,1997 ........... $     66   $ 63,366    $ 27,382    $  1,634     $ (6,259)   $    --    $     --
   Net Income, January 1, 1998 -
   March 31, 1998 ...................       --         --         992          --          --          --          --     $    992

   Unrealized appreciation on
   securities available-for-sale,
   net                                      --         --          --         160          --          --          --          160
                                                                                                                          --------

   Comprehensive income .............       --         --          --          --          --          --                 $  1,152
                                                                                                                          ========

   Purchase of common stock by
   ESOP .............................       --         --          --          --      (1,563)         --          --

   Allocation of ESOP stock .........       --         26          --          --         206          --          --
                                      --------   --------    --------    --------    --------    --------    --------  

BALANCE, March 31, 1998 ............. $     66   $ 63,392    $ 28,374    $  1,794    $ (7,616)   $     --    $     --
                                      ========   ========    ========    ========    ========    ========    ========  


BALANCE, December 31, 1998 .......... $     66   $ 63,374    $ 30,458    $  1,727    $ (7,208)   $ (4,180)   $     --

   Net Income, January 1, 1999-
   March 31, 1999 ...................       --         --         999          --          --          --          --     $    999

   Unrealized appreciation on
   securities available-for-sale,
   net                                      --         --          --      (1,318)         --          --          --       (1,318)
                                                                                                                          --------

   Comprehensive income .............       --         --          --          --          --          --          --     $   (319)
                                                                                                                          ========

   Purchase of treasury stock .......       --         --          --          --          --          --       4,859

   Allocation of ESOP stock .........       --         (6)         --          --          78          --          --

   Cash dividends paid ..............       --         --        (282)         --          --          --          --

   Earned portion of RRP ............       --         --          --          --          --         229          --
                                      --------   --------    --------    --------    --------    --------    --------  

BALANCE, March 31, 1999 ............. $     66   $ 63,368    $ 31,175    $    409    $ (7,130)   $ (3,951)   $  4,859
                                      ========   ========    ========    ========    ========    ========    ========  
</TABLE>


            See accompanying Notes to Unaudited Financial Statements.


                                       5


<PAGE>


                WARWICK COMMUNITY BANCORP, INC. AND SUBSIDIARIES
                      CONSOLIDATED STATEMENTS OF CASH FLOWS
                                   (Unaudited)

<TABLE>
<CAPTION>
                                                                                        For the Three Months
                                                                                           Ended March 31,
                                                                                     ---------------------------
                                                                                       1999               1998
                                                                                     --------           --------
                                                                                          (In thousands)
<S>                                                                                  <C>                <C>     
CASH FLOWS FROM OPERATING ACTIVITIES
Net income .....................................................................     $    999           $    992
Adjustments to reconcile net income to net cash used in
   operating activities:
   Depreciation ................................................................          156                114
   Accretion of discount on investment securities ..............................         (377)              (381)
   Net (increase)/decrease in accrued interest receivable ......................          147               (150)
   Increase in mortgage servicing rights and other assets ......................       (3,158)            (2,224)
   Provision for loan losses ...................................................          125                125
   Net gain on sales of loans ..................................................          (31)               (17)
   Net gain on sales of securities .............................................         (579)              (193)
   Increase in accrued interest payable ........................................           95                220
   Increase/(decrease) in accrued expenses and other liabilities ...............          282             (3,675)
                                                                                     --------           --------
Total reconciliation adjustments ...............................................       (3,340)            (6,181)
                                                                                     --------           --------
   Net cash provided by operating activities ...................................       (2,341)            (5,189)
                                                                                     --------           --------
CASH FLOWS FROM INVESTING ACTIVITIES
Proceeds from maturities and calls of securities ...............................        6,550             17,954
Purchases of securities ........................................................      (29,496)           (69,448)
Proceeds from sale of trading securities and securities available-for-sale .....        3,698             10,501
Principal repayments from mortgage-backed securities ...........................        6,524              4,801
Purchases of FHLBNY capital stock ..............................................       (1,125)              (656)
Net increase in loans ..........................................................       (7,309)           (15,811)
Purchases of fixed assets, net .................................................         (222)               (52)
                                                                                     --------           --------
   Net cash used in investing activities .......................................      (21,380)           (52,711)
                                                                                     --------           --------
CASH FLOWS FROM FINANCING ACTIVITIES
Net increase (decrease) in deposits ............................................       (1,074)             6,023
Net increase (decrease) in escrow deposits .....................................         (179)                48
Net increase in borrowed funds .................................................       29,020             39,065
Dividends on common stock ......................................................         (282)                --
Purchase of ESOP common stock ..................................................           --             (1,563)
Purchase of treasury stock .....................................................       (4,859)                --
ESOP allocation ................................................................           78                206
RRP allocation .................................................................          229                 --
                                                                                     --------           --------
   Net cash provided by financing activities ...................................       22,933             43,779
                                                                                     --------           --------
   Net decrease in cash ........................................................     $   (788)          $(14,121)
                                                                                     ========           ========
CASH AT BEGINNING OF PERIOD ....................................................     $ 10,511           $ 22,543
CASH AT END OF PERIOD ..........................................................        9,723              8,422
                                                                                     --------           --------
CHANGE IN CASH .................................................................     $   (788)          $(14,121)
                                                                                     ========           ========
</TABLE>


            See accompanying Notes to Unaudited Financial Statements.


                                       6


<PAGE>


                         WARWICK COMMUNITY BANCORP, INC.
              NOTES TO UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS

1.   Basis of Presentation

     The accompanying  unaudited  consolidated  financial statements include the
accounts of Warwick  Community  Bancorp,  Inc.  ("Company") and its wholly owned
subsidiary The Warwick Savings Bank ("Bank").  In July 1998, the Company changed
its  fiscal  year end from May 31st to  December  31st,  and,  accordingly,  the
accompanying  unaudited  consolidated  financial  statements  have been prepared
based on the Company's new fiscal year end.

     The unaudited consolidated financial statements included herein reflect all
normal recurring adjustments which are, in the opinion of management,  necessary
to present a fair  statement of the results for the interim  periods  presented.
The  results of  operations  for the three  months  ended March 31, 1999 are not
necessarily indicative of the results of operations that may be expected for the
entire year ending December 31, 1999.  Certain  information and note disclosures
normally included in financial  statements prepared in accordance with generally
accepted  accounting  principles have been condensed or omitted  pursuant to the
rules and regulations of the U.S. Securities and Exchange Commission.

     These  unaudited  consolidated  financial  statements  should  be  read  in
conjunction with the Company's  audited  consolidated  financial  statements and
notes thereto included in the Company's 1998 Annual Report to Shareholders.

2.   Earnings Per Share

     The Company adopted SFAS No. 128,  "Earnings per Share." Basic earnings per
share  excludes  dilution and is computed by dividing net income by the weighted
average  number  of  shares  outstanding  for  the  period,   adjusted  for  the
unallocated  portion of the shares held by the Warwick Community  Bancorp,  Inc.
Employee  Stock  Ownership Plan ("ESOP") in accordance  with AICPA  Statement of
Position 93-6,  "Employers  Accounting for Employee Stock Ownership  Plans," and
unearned shares held by the Recognition and Retention Plan of Warwick  Community
Bancorp, Inc. ("RRP").  Diluted earnings per share, which reflects the potential
dilution  that could occur if  outstanding  stock  options  were  exercised  and
resulted in the issuance of common stock that then shared in the earnings of the
Company,  is computed by dividing net income by the weighted  average  number of
common shares and dilutive instruments. As of March 31, 1999, the Company has no
securities  that could be converted  into common stock nor does the Company have
any contracts that could result in the issuance of common stock.

3.   Comprehensive Income

     The Company  adopted  Statement of Financial  Accounting  Standards No. 130
"Reporting  Comprehensive  Income"  ("SFAS No.  130") in 1998.  All  comparative
financial  statements  provided for earlier  periods have been  reclassified  to
reflect application of the provisions of this statement.

     Comprehensive  income  includes net income and all other  changes in equity
during  a  period  except  those  resulting  from   investments  by  owners  and
distributions to owners. Other comprehensive income includes revenues, expenses,
gains and  losses  that  under  generally  accepted  accounting  principles  are
included in comprehensive income but excluded from net income.

     Comprehensive   income  and  accumulated  other  comprehensive  income  are
reported net of related income taxes. Accumulated other comprehensive income for
the Company  consists solely of unrealized  holding gains or losses on available
for sale securities.


                                       7


<PAGE>


4.   Loan Portfolio Composition

     The  following  table  sets forth the  composition  of the  Company's  loan
portfolio  in  dollar  amounts  and  percentage  of the  portfolio  at the dates
indicated.

<TABLE>
<CAPTION>
                                                                     At March 31, 1999            At December 31, 1998
                                                                 ------------------------        -----------------------
                                                                                  Percent                        Percent
                                                                   Amount        of Total         Amount        of Total
                                                                   ------        --------         ------        --------
                                                                                 (Dollars in thousands)
<S>                                                              <C>              <C>            <C>             <C>   
Mortgage loans:
Conventional one- to four-family loans ...................       $ 174,751         64.27%        $ 166,466        63.25%
Mortgage loans held for sale .............................           9,156          3.37            13,737         5.22
VA and FHA loans .........................................             126          0.05               641         0.24
Home equity loans ........................................          18,494          6.80            18,061         6.86
Residential construction loans ...........................          14,148          5.20            16,105         6.12
Undisbursed portion of construction loans ................          (6,123)        (2.25)           (6,304)       (2.39)
                                                                 ---------        ------         ---------       ------
   Total mortgage loans ..................................         210,552         77.44           208,706        79.30
                                                                 ---------        ------         ---------       ------

Consumer and other loans:
Commercial loans by type:
   Non-farm and non-residential ..........................          18,480          6.80            17,082         6.49
   One- to four-family residential .......................           2,263          0.83             2,142         0.81
   Multi-family ..........................................           3,952          1.45             3,988         1.52
   Farm ..................................................             988          0.36               996         0.38
   Acquisition, development and
    construction .........................................           4,169          1.53             4,339         1.65
   Term loans ............................................             380          0.14               411         0.16
   Installment loans .....................................           3,091          1.14             2,435         0.94
   Demand loans ..........................................             477          0.18               853         0.32
   Time loans ............................................             155          0.06                80         0.03
   SBA loans .............................................             245          0.09               328         0.12
   Lines-of-credit .......................................           3,574          1.31             2,327         0.88
   Loans and draws disbursed .............................             617          0.23               194         0.07
   Non-accrual ...........................................             607          0.22               118         0.04
                                                                 ---------        ------         ---------       ------
   Total commercial loans ................................          38,998         14.34            35,293        13.41
Automobile ...............................................          16,740          6.16            13,788         5.24
Student ..................................................             492          0.18               332         0.13
Credit card ..............................................           1,224          0.45             1,296         0.49
Other consumer loans .....................................           3,900          1.43             3,775         1.43
                                                                 ---------        ------         ---------       ------
Total consumer loans .....................................          22,356          8.22            19,191         7.29
                                                                 ---------        ------         ---------       ------
   Total consumer and other loans ........................          61,354         22.56            54,484        20.70
                                                                 ---------        ------         ---------       ------
   Total loans ...........................................         271,906        100.00%          263,190       100.00%
                                                                                  ======                         ======
Allowance for loan losses ................................          (1,835)                         (1,727)
                                                                 ---------                       ---------
   Total loans, net ......................................       $ 270,071                       $ 261,463
                                                                 =========                       =========
</TABLE>


                                       8


<PAGE>


5.   Non-Performing Assets

     The following table sets forth  information  regarding  non-accrual  loans,
other past due loans and other real estate owned at the dates indicated.

<TABLE>
<CAPTION>
                                                                                  March 31,         December 31,
                                                                                    1999                1998
                                                                                  ---------         ------------
                                                                                     (Dollars in thousands)
<S>                                                                                <C>                 <C>   
Non-accrual mortgage loans delinquent more
than 90 days ................................................................      $1,528              $  631
Non-accrual other loans delinquent more than 90 days ........................         553                  88
                                                                                   ------              ------
Total non-accrual loans .....................................................       2,081                 719
Total 90 days or more delinquent and still accruing .........................         176               1,362
                                                                                   ------              ------
Total non-performing loans ..................................................       2,257               2,081
Total foreclosed real estate, net of related allowance for losses ...........         561                 371
                                                                                   ------              ------
Total non-performing assets .................................................      $2,818              $2,452
                                                                                   ======              ======
Non-performing loans to total loans .........................................        0.83%               0.79%
Total non-performing assets to total assets .................................        0.60%               0.55%
</TABLE>

6.   Allowance for Loan Losses

     The following table sets forth the activity in the Company's  allowance for
loan losses at and for the periods indicated.

<TABLE>
<CAPTION>
                                                                                                       At or For the Seven
                                                                     Three Months Ended                    Months Ended
                                                                            March 31,                      December 31,
                                                                   --------------------------          -------------------
                                                                    1999                1998                  1998
                                                                    ----                ----                  ----
                                                                                 (Dollars in thousands)  
<S>                                                                <C>                 <C>                   <C>   
Allowance for loan losses:                                                                             
Balance at beginning of period ..............................      $1,727              $1,372                $1,513

Charge-offs:                                                                                           
      Real estate mortgage loans ............................           2                   0                    30
      Commercial loans ......................................          25                  13                     5
      Consumer loans ........................................          15                  13                    64
                                                                   ------              ------                ------
      Total charge-offs .....................................          42                  26                    99

Recoveries:                                                                                            
      Real estate mortgage loans ............................          23                   0                     0
      Commercial loans ......................................           0                   0                     9
      Consumer loans ........................................           2                   4                    12
                                                                   ------              ------                ------
      Total recoveries ......................................          25                   4                    21

Provision for loan losses ...................................         125                 125                   292
                                                                   ------              ------                ------
Balance at end of Period ....................................      $1,835              $1,475                $1,727
                                                                   ======              ======                ======
Ratio of net charge-offs during the period                                                             
to average loans outstanding ................................        0.01%               0.01%                 0.04%

Ratio of allowance for loan losses to total                                                            
loans at end of period ......................................        0.67%               0.56%                 0.66%

Ratio of allowance for loan losses to                                                                  
non-performing loans ........................................       81.30%             119.60%                82.99%
</TABLE>


                                       9


<PAGE>


Item 2. Management's  Discussion And Analysis Of Financial Condition And Results
        Of Operations
 
General

     Warwick Community Bancorp, Inc. ("Company"),  headquartered in Warwick, New
York, is a bank holding company incorporated in September 1997 under the laws of
the State of Delaware and is  registered  under the Bank Holding  Company Act of
1956,  as  amended.  The  Company is the bank  holding  company  for The Warwick
Savings Bank ("Bank"),  a New York State chartered stock savings bank. While the
following  discussion of financial  condition and results of operations includes
the collective  results of the Company and the Bank,  this  discussion  reflects
primarily the Bank's  activities.  Unless otherwise  disclosed,  the information
presented  herein reflects the financial  condition and results of operations of
the Company and the Bank on a consolidated basis.

Financial Condition

     For the  three-month  period  ending  March 31,  1999,  total assets of the
Company  increased  $23.0 million,  or 5.2%, from $445.1 million at December 31,
1998 to $468.1  million at March 31,  1999.  This  increase in total  assets was
primarily attributable to a $8.7 million, or 3.3%, increase in total loans, net,
which  increased  from $263.2  million at December 31, 1998 to $271.9 million at
March 31, 1999,  and a $10.9  million,  or 7.0%,  increase in total  securities,
which  increased  from $155.5  million at December 31, 1998 to $166.4 million at
March 31, 1999.  These  increases  resulted  from  continued  growth in the loan
portfolio,  particularly  mortgage  loans,  and from the Bank's  utilization  of
additional wholesale leveraging  transactions in order to enhance earnings.  The
Federal Home Loan Bank of New York ("FHLBNY") stock portfolio  increased by $1.1
million  in  conjunction  with  the  utilization  of such  wholesale  leveraging
transactions.

     Deposits  decreased $1.1 million,  or 0.4%, from $246.9 million at December
31, 1998,  to $245.8  million at March 31,  1999.  This  decrease was  primarily
attributable to a decrease in  non-interest  bearing  checking  accounts of $3.7
million  and a  decrease  of $1.2  million  in NOW and  money  market  accounts,
partially  offset by an  increase  in savings  accounts  of $2.2  million and an
increase in certificates of deposit of $1.6 million.

     Borrowed funds,  comprised  primarily of securities  sold under  repurchase
agreements and FHLBNY advances,  increased $29.0 million, from $104.8 million at
December 31, 1998 to $133.8  million at March 31,  1999.  These  increases  were
primarily  used in  connection  with  the  aforementioned  wholesale  leveraging
transactions which enabled the Company to bolster net interest income.

     Total  stockholders'  equity decreased by $5.2 million, or 6.1%, from $84.2
million at December 31, 1998 to $79.1  million at March 31,  1999.  The decrease
was primarily  attributable to $4.9 million in open market  purchases of 330,327
shares,  or 5.0% of the Company's  outstanding  common stock in conjunction with
the Company's  initial stock  repurchase  program and the decline in accumulated
other comprehensive  income of $1.3 million. The decrease in total stockholders=
equity was partially  offset by net income of $999 thousand for the three months
ended March 31, 1999. Also contributing to the decrease in stockholders=  equity
was the payment of the  Company's  third cash dividend to  shareholders  of $282
thousand, which was paid on March 30, 1999.

Analysis of Net Interest Income

     Net  interest   income   represents  the   difference   between  income  on
interest-earning  assets  and  expense  on  interest-bearing   liabilities.  Net
interest  income  depends  upon  the  volume  of  interest-earning   assets  and
interest-bearing liabilities and the interest rates earned or paid on them.

     Average Balance Sheets. The following tables set forth certain  information
regarding  the  Company's  average  statements  of financial  condition  and its
statements of income for the three months ended March 31,


                                       10


<PAGE>


1999 and 1998 and  reflects  the  average  yield on assets and  average  cost of
liabilities  for the periods  indicated.  Such yields and costs were  derived by
dividing  interest  income  or  expense  by the  average  balance  of  assets or
liabilities,  respectively,  for the periods shown.  The yields include deferred
fees and discounts,  which are considered  yield  adjustments.  Average balances
were  computed  based on  month-end  balances.  Management  believes  the use of
average  monthly  balances  instead of average  daily  balances  does not have a
material effect on the information presented.

<TABLE>
<CAPTION>
                                                                                   Three Months Ended March 31,
                                                              ----------------------------------------------------------------------
                                                                             1999                                 1998
                                                              ---------------------------------    ---------------------------------
                                                                                        Average                              Average
                                                              Average                    Yield/     Average                   Yield/
                                                              Balance      Interest      Cost       Balance     Interest       Cost
                                                              -------      --------      ----       -------     --------       ----
Assets:                                                                               (Dollars in thousands)
<S>                                                           <C>          <C>            <C>      <C>          <C>            <C>  
Interest-earning assets:
   Mortgage loans, net ...................................    $209,054     $  3,845       7.36%    $141,663     $  2,708       7.65%
   Consumer and other loans, net .........................      55,369        1,164       8.41       41,051          952       9.28
   Mortgage-backed securities ............................      73,694        1,261       6.84       78,293        1,441       7.36
   Federal funds sold ....................................          --           --         --        5,146           70       5.44
   Interest earning accounts at banks ....................         482            5       4.15          675           10       5.93
   Investment securities .................................      86,340        1,309       6.06       66,858        1,183       7.08
                                                              --------     --------                --------     --------
          Total interest-earning assets ..................     424,939        7,584       7.14      333,686        6,364       7.63
                                                                           --------                             --------
   Non-interest earning assets ...........................      23,626                               22,992
                                                              --------                             --------
          Total assets ...................................    $448,565                             $356,678
                                                              ========                             ========

Liabilities and retained earnings:
Interest-bearing liabilities:
   Passbook accounts .....................................    $ 82,920     $    597       2.88%    $ 75,976     $    553       2.91%
   Escrow deposits .......................................       1,368           31       9.06        1,131           15       5.31
   NOW accounts ..........................................      21,151           85       1.61       15,518           61       1.57
   Money market accounts .................................      36,616          327       3.57       24,748          200       3.23
   Certificate accounts ..................................      71,730          838       4.67       73,863          929       5.03
                                                              --------     --------                --------     --------
   Total deposits ........................................     213,785        1,878       3.51      191,236        1,758       3.68
   Borrowed funds ........................................     116,365        1,559       5.36       48,179          696       5.78
                                                              --------     --------                --------     --------
          Total interest-bearing liabilities .............     330,150        3,437       4.16      239,415        2,454       4.10
                                                                           --------                             --------
Non-interest bearing liabilities .........................      37,004                               33,967
                                                              --------                             --------
          Total liabilities ..............................     367,154                              273,382
Retained earnings ........................................      81,411                               83,296
                                                              --------                             --------
          Total liabilities
          and retained earnings ..........................    $448,565                             $356,678
                                                              ========                             ========
Net interest income/interest rate spread .................                 $  4,147       2.98%                 $  3,910       3.53%
                                                                           ========     ======                  ========     ======
Net interest-earning assets/net
   interest margin .......................................    $ 94,789                    3.90%    $ 94,271                    4.69%
                                                              ========                  ======     ========                  ====== 

Ratio of interest-earning assets to
   interest-bearing liabilities ..........................                              128.71%                              139.38%
                                                                                        ======                               ======
</TABLE>


                                       11


<PAGE>


     Rate/Volume  Analysis.  The  following  table  presents the extent to which
changes in interest rates and changes in the volume of  interest-earning  assets
and interest-bearing liabilities have affected the Company's interest income and
interest expense during the periods  indicated.  Information is provided in each
category with respect to (i) changes  attributable to changes in volume (changes
in volume  multiplied by prior rate),  (ii) changes  attributable  to changes in
rate (changes in rate multiplied by prior volume) and (iii) the net change.  The
changes  attributable  to the  combined  impact  of  volume  and rate  have been
allocated  proportionately  to the  changes due to volume and the changes due to
rate.

                                             Three Months Ended March 31, 1999
                                                        Compared to
                                             Three Months Ended March 31, 1998
                                           -------------------------------------
                                           Increase (Decrease) in Net
                                             Interest Income Due to
                                           --------------------------
                                              Volume         Rate         Net
                                              ------         ----         ---
                                                        (In thousands)
Interest-earning assets:
Mortgage loans, net .....................     $ 1,288         (151)     $ 1,137
Consumer and other loans, net ...........         332         (120)         212
Mortgage-backed securities ..............         (85)         (95)        (180)
Federal funds sold ......................         (70)          --          (70)
Interest earning accounts at banks ......          (3)          (2)          (5)
Investment securities ...................         345         (219)         126
                                              -------      -------      -------
          Total .........................       1,807         (587)       1,220
                                              -------      -------      -------

Interest-bearing liabilities:
Passbook accounts .......................          51           (7)          44
Escrow accounts .........................           3           13           16
NOW accounts ............................          22            2           24
Money market accounts ...................          96           31          127
Certificates of deposit .................         (27)         (64)         (91)
Borrowed funds ..........................         985         (122)         863
                                              -------      -------      -------
          Total .........................       1,130         (147)         983
                                              -------      -------      -------
Net change in net interest income .......     $   677      $  (440)     $   237
                                              =======      =======      =======

Comparison  of  Operating  Results for the Three Months Ended March 31, 1999 and
1998

     General.  For the three months ended March 31, 1999, the Company recognized
net income of $999  thousand,  or $0.17 per share,  as compared to net income of
$992 thousand, or $0.16 per share for the three months ended March 31, 1998. The
increase in net income was  attributable  to the 75.8%  increase in other income
and the 6.1% increase in net interest income, which were partially offset by the
27.7% increase in other expenses.

     Interest  Income.  Interest  income  amounted to $7.6 million for the three
months  ended March 31,  1999,  as compared to $6.4 million for the three months
ended March 31, 1998. This increase of $1.2 million, or 19.2%, was primarily the
result of the  increase  of $1.1  million in  interest  earned on the  Company's
mortgage  loan  portfolio  and the  increase  of $212  thousand in the amount of
interest earned on other loans, as compared to the respective totals earned over
the three-month period ended March 31, 1998.


                                       12


<PAGE>


     Although the average yield of the  institution's  mortgage  loan  portfolio
over the three months  ended March 31, 1999  decreased  from 7.65% to 7.36%,  as
compared to the average yield realized over the  three-month  period ended March
31, 1998,  mortgage loan interest income increased  because of the $67.4 million
growth,  or 47.6%,  from $141.7 million to $209.1 million,  in average  mortgage
loan balances over the same time periods.  The growth experienced  resulted from
strong loan demand as home purchasers and existing homeowners capitalized on the
opportunities afforded by lower mortgage loan interest rates.

     The average balances of investment  securities,  including  mortgage-backed
securities, at the end of the three-month period ended March 31, 1999 was $160.0
million,  as compared  to $145.2  million at the end of the  three-month  period
ended  March  31,  1998,  and the  increase  resulted  largely  from the  Bank's
utilization of additional  wholesale  leverage  transactions in order to enhance
earnings.

     Interest Expense.  Interest expense over the three-month period ended March
31, 1999 on total interest-bearing deposits and borrowed funds increased by $983
thousand when compared to the same three-month period one year earlier. Over the
same periods,  the average balances of the institution's total interest- bearing
liabilities  increased by $90.7 million, or 37.9%, from $239.4 million to $330.1
million, and the average balances of the institution's  borrowed funds increased
by $68.2 million,  or 141.5%. The increase in interest expense was primarily the
result of additional  interest paid on borrowing  associated  with the wholesale
leveraging transactions that occurred during the year.

     Net Interest  Income.  Net interest income for the three months ended March
31, 1999 increased $237 thousand, or 6.1%, to $4.1 million compared to the three
months ended March 31,  1998.  The  interest  rate spread  dropped to 2.98% from
3.53%, and the net interest margin decreased to 3.90% from 4.69%,  respectively,
for the  three-month  period  ended March 31, 1999  compared to the  three-month
period ended March 31, 1998.  This reflects the lower interest rate  environment
during the first quarter of 1999 as compared to the equivalent quarter in 1998.

     Provision  for Loan  Losses.  The  provision  for loan losses for the three
months  ended March 31, 1999 and 1998 was $125  thousand.  This  provision  is a
result of management's assessment of the loan portfolio, the level of the Bank's
allowance  for loan losses and its  assessment  of the local  economy and market
conditions.

     Other Income.  Other income, net, for the three months ended March 31, 1999
totaled  $1.4  million as compared to $772  thousand  for the three months ended
March 31, 1998.  This  increase was  primarily  attributable  to a $386 thousand
increase in income derived from  securities  sales, a $126 thousand  increase in
other income and a $59 thousand increase in service and fee income.

     Other  Expenses.  Total other  expenses  increased by $793 thousand for the
three-month  period  ended  March  31,  1999 as  compared  to  March  31,  1998.
Accounting  for much of the increase in other  expenses is salaries and employee
benefits  expense  which grew $370 thousand for the three months ended March 31,
1999.  This is primarily  the result of additions to staff  necessary to attract
and service a growing number of loan account and deposit account  customers.  In
addition,  BRP and RRP benefits expense  increased by $226 thousand,  while ESOP
benefits  decreased $17 thousand,  for the three months ended March 31, 1999, as
compared  to the  same  period  in  1998,  as the RRP was  not  approved  by the
Company's  shareholders until June 1998.  Advertising expense and other expenses
increased  $112 thousand and $114 thousand,  respectively,  for the three months
ended March 31, 1999.  Data  processing  expense  increased $84 thousand for the
three months ended March 31, 1999,  primarily due to the expense associated with
becoming  Year 2000  compliant.  Partially  offsetting  these  increases was the
decrease in professional fees of $121 thousand.

     Provision for Income Taxes.  The increase in the provision for income taxes
for the three-month  period ended March 31, 1999, as compared to the same period
ended March 31,  1998,  was  primarily  attributable  to the increase of 1.7% in
pretax income.


                                       13


<PAGE>


Liquidity and Capital Resources

     Liquidity is managed from a composite of customer  deposits,  from cash and
short-term  interest-earning assets, from mortgage loans held for sale, from the
investment  securities  portfolio held available for sale and from the Company's
ability to borrow from the FHLBNY.  At March 31, 1999  management  had  utilized
$25.3 million in repurchase  agreements and $108.5 million in FHLBNY advances to
augment the Company's earnings,  and management intends to enter into additional
transactions in order to leverage the Company's capital base further.

     At  March  31,  1999,  the  Company's   total  approved  loan   origination
commitments  outstanding totaled $28.1 million. At the same time, the unadvanced
portion of residential construction loans totaled $6.1 million.  Certificates of
deposit  scheduled to mature in one year or less at March 31, 1999 totaled $66.0
million. Based on historical experience,  management believes that a significant
portion of such deposits will remain with the Bank.

     At March 31, 1999,  the Company had cash and due from banks of $9.7 million
and securities  available for sale of $165.3 million.  Management believes these
amounts,  together with the Company's  borrowing  capabilities,  to be more than
adequate to meet its short-term cash needs.

Regulatory Capital Position

     The Bank is subject to minimum regulatory capital  requirements  imposed by
the Federal Deposit Insurance Corporation ("FDIC"), which requirements are, as a
general matter, based on the amount and composition of an institution's  assets.
Insured institutions in the strongest financial and managerial condition, with a
rating  of 1 (the  highest  examination  rating of the FDIC  under  the  Uniform
Financial Institutions Rating System) are required to maintain Tier 1 capital of
not less than 3.0% of total assets (the "leverage capital ratio"). For all other
banks,  the minimum  leverage  capital ratio is 4.0%,  unless a higher  leverage
capital ratio is warranted by the  particular  circumstances  or risk profile of
the institution.

     At March 31,  1999,  the Company  exceeded the minimum  regulatory  capital
requirements  imposed by the  Federal  Reserve  Board,  which are  substantially
similar to the  requirements  of the FDIC,  with a Tier 1 capital level of $78.5
million, or 17.51% of average assets,  which is well above the required level of
$17.9 million, or 4% of average assets. The Company's ratio of Tier 1 capital to
risk-weighted assets of 33.06% at March 31, 1999 is also well above the required
level of 4%. The  Company's  ratio of total capital to  risk-weighted  assets is
34.02%,  which is well above the required  level of 8%. In addition,  the Bank's
capital  ratios  qualify it to be treated as "well  capitalized"  for regulatory
purposes.  The following table shows the Bank's regulatory capital positions and
ratios at March 31, 1999.

<TABLE>
<CAPTION>
                                                          Actual Capital             Required Capital             Excess Capital
                                                       Amount       Percent        Amount        Percent        Amount       Percent
                                                       ------       -------        ------        -------        ------       -------
<S>                                                   <C>            <C>           <C>             <C>         <C>            <C>   
Total Capital
     (to risk-weighted assets) ...............        $54,706        23.61%        $18,538         8.00%       $36,168        15.61%
Tier 1 Capital
     (to risk-weighted assets) ...............         52,342        22.59           9,269         4.00         43,073        18.59
Tier 1 Capital
     (to average assets) .....................         52,342        11.86          17,661         4.00         34,681         7.86
</TABLE>


                                       14


<PAGE>



Other Matters

     Year 2000 Compliance. The Year 2000 issue is the result of the inability of
certain  computer  systems to recognize the year 2000.  Many  existing  computer
programs  and  systems  were  initially  programmed  with six digit  dates  that
provided only two digits to identify the calendar year in the date field without
considering the upcoming change in the century.  As a result,  such programs and
systems  may  recognize  a date using A00" as the year 1900  instead of the year
2000,  which  could  result in system  failures  or  miscalculations.  Like most
financial service providers, the Company and its operations may be significantly
affected  by the Year 2000  issue due to the  nature of  financial  information.
Software,  hardware and equipment  both within and outside the Company's  direct
control and with whom the Company  electronically  or  operationally  interfaces
(i.e.,  third  party  vendors  providing  data  processing,  information  system
management,  maintenance of computer systems and credit bureau  information) are
likely to be  affected.  Furthermore,  if computer  systems  are not  adequately
changed to identify  the year 2000,  many  computer  applications  could fail or
create erroneous  results.  As a result,  many calculations  which rely upon the
date  field  information,  such as  interest,  payment  or due  dates  and other
operating   functions,   may  generate  results  which  could  be  significantly
misstated,  and the Company  could  experience a temporary  inability to process
transactions,  send invoices or engage in similar normal business activities. In
addition,  under certain  circumstances,  failure to adequately address the Year
2000 issue could adversely  affect the viability of the Company's  suppliers and
creditors and the  creditworthiness  of its  borrowers.  Thus, if not adequately
addressed,  the Year 2000 issue could result in a material  adverse  impact upon
the Company's products,  services and competitive condition and, therefore,  its
results of  operations,  and could be deemed to imperil the safety and soundness
of the Bank.

     The FDIC,  the  Bank's  primary  federal  regulator,  along  with the other
federal bank regulatory agencies, has published substantive guidance on the Year
2000  issue and has  included  Year 2000  compliance  as a  substantive  area of
examination.  These  publications,  in  addition  to  providing  guidance  as to
examination   criteria,   have  outlined   requirements  for  the  creation  and
implementation   of  a  compliance   plan  and  target  dates  for  testing  and
implementation  of  corrective  action.  As a  result  of the  oversight  by and
authority  vested  in  the  federal  bank  regulatory   agencies,   a  financial
institution  that  does not  become  Year 2000  compliant  could be  subject  to
administrative  remedies  similar  to those  imposed on  financial  institutions
otherwise  found  not to be  operating  in a safe and  sound  manner,  including
remedies available under prompt corrective action regulations.

     The  Company  has  developed  and is  implementing  a plan (the  "Plan") to
address the Year 2000 issue and its effects on the  Company.  The Plan  includes
five  components   which  address  issues   involving   awareness,   assessment,
renovation,  validation  and  implementation.  The  Company  has  completed  the
awareness,  assessment and renovation  phases of the Plan.  During the awareness
and  assessment  phases  of the  Plan,  the  Company  inventoried  all  material
information  systems and those of third-party  vendors. As part of the Plan, the
Company has had formal  communications with all of its significant  suppliers to
determine the extent to which the Company is vulnerable to those third  parties'
failure to remedy their own Year 2000 issue and has been  following the progress
of those  vendors  with their Year 2000  compliance  status.  The Company is now
actively involved in the validation and implementation phases of the Plan. Under
regulatory guidelines issued by the federal banking regulators, the Bank and the
Company are required to substantially  complete testing of core mission critical
internal  systems  by  March  31,  1999,  and  testing  of both  internally  and
externally  supplied  systems  must  be  complete,  and all  renovation  must be
substantially  complete,  by June 30, 1999. In accordance with those guidelines,
the Company has completed  testing of its mission  critical  systems as of March
31, 1999 and is now Year 2000 ready.

     Despite  its best  efforts to ensure Year 2000  compliance,  it is possible
that one or more of the  Company's  internal  or  external  systems  may fail to
operate or to operate correctly, which could have a

                                       15


<PAGE>



material  adverse  impact on the  operations of the Company or the Bank. At this
time,  while  the  Company  believes  it has  become  Year 2000  compliant,  the
probability of such  likelihood  cannot be determined.  In the event that system
failures  related  to the Year 2000  issue  occur,  the  Company  has  developed
contingency  plans,  which  involve,  among  other  actions,  utilization  of an
alternate service provider or alternate  products  available through the current
vendor.

     The Company has reviewed its customer  base to determine  whether they pose
significant Year 2000 risks. The Company's  customer base consists  primarily of
individuals  who utilize the  Company's  services  for  personal,  household  or
consumer uses.  Individually,  such customers are not likely to pose significant
Year 2000 risks directly.  It is not possible at this time to gauge the indirect
risks  which  could  be  faced  if the  employers  of such  customers  encounter
unresolved Year 2000 issues.

     Monitoring  and  managing  the Year 2000  issue will  result in  additional
direct and indirect costs to the Company. Direct costs include potential charges
by third party  software  vendors for product  enhancements,  costs  involved in
testing  software  products for Year 2000 compliance and any resulting costs for
developing and implementing  contingency  plans for critical  software  products
that are not enhanced.  Indirect costs will principally  consist of time devoted
by existing employees in monitoring  software vendor progress,  testing enhanced
software products and implementing any necessary  contingency plans. The Company
estimates  that  total  costs  related  to the Year 2000  issue  will not exceed
$165,000.  Both direct and indirect costs of addressing the Year 2000 issue will
be charged to earnings as  incurred.  To date,  over 80% of the total  estimated
costs associated with the Year 2000 have already been expensed.

Item 3.  Quantitative And Qualitative Disclosures About Market Risk

     Quantitative  and qualitative  disclosure about market risk is presented at
December 31, 1998 in the Company's  Annual Report on Form 10-K,  which was filed
with the Securities and Exchange  Commission on March 31, 1999.  There have been
no material  changes in the Company's  market risk at March 31, 1999 as compared
to December 31, 1998.

PART II --OTHER INFORMATION

Item 1.  Legal Proceedings

         Not applicable.

Item 2.  Changes in Securities

         Not applicable.

Item 3.  Defaults Upon Senior Securities

         Not applicable.


                                       16


<PAGE>



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

     At the Company's Annual Meeting of Shareholders held on April 20, 1999, the
following  matters  were  voted  upon,  with the  results  of the voting on such
matters indicated:

1.   Election of the following  persons to serve a three-year  term as directors
     of the Company:

                                             FOR                     WITHHELD

          Ronald J. Gentile               5,498,566                  138,376
          Emil R. Krahulik                5,496,931                  140,011
          Thomas F. Lawrence, Jr          5,499,858                  137,084

2.   Ratification  of the  appointment  of the firm of  Arthur  Andersen  LLP as
     independent  auditors  for the Company for the fiscal year ending  December
     31, 1999:

          For:              5,501,898
          Against           118,910
          Abstain:          16,134

          Broker non-votes: none

3.   Approval  of  Amendments  to the Stock  Option  Plan of  Warwick  Community
     Bancorp, Inc.:

          For:              3,013,476
          Against           334,664
          Abstain:          48,727

          Broker non-votes: 2,240,075

4.   Approval of Amendments  to the  Recognition  and Retention  Plan of Warwick
     Community Bancorp, Inc.:

          For:              3,084,479
          Against           364,700
          Abstain:          53,525

          Broker non-votes: 2,134,238

Item 5.  Other Information

         Not applicable.


                                       17


<PAGE>



Item 6.   Exhibits and Reports on Form 8-K

          (a)  Exhibits

               27.  Financial  Data  Schedule  (submitted  only  with  filing in
                    electronic format)

          (b)  Reports on Form 8-K

                    Not applicable.


                                       18


<PAGE>



                                   SIGNATURES

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




                                      Warwick Community Bancorp, Inc.
                                      (Registrant)



Date: May 14, 1999                    By: /s/ Ronald J. Gentile             
                                          --------------------------------------
                                          Ronald J. Gentile
                                          President and Chief Operating Officer






Date: May 14, 1999                    By:  /s/ Arthur W. Budich                 
                                           -------------------------------------
                                           Arthur W. Budich
                                           Senior Vice President and
                                           Chief Financial Officer


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                                  EXHIBIT INDEX

27.  Financial Data Schedule (submitted only with filing in electronic format)


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