**UNITED      STATES**

**SECURITIES      AND EXCHANGE COMMISSION**

**WASHINGTON,      D.C. 20549**

----

**FORM      10-QSB**

| x | QUARTERLY                REPORT UNDER SECTION 13 OR 15 (d) OF THE SECURITIES EXCHANGE ACT                OF                1934 |
|---|---------------------------------------------------------------------------------------------------------------------------------|

| o | TRANSITION                REPORT UNDER SECTION 13 OR 15(d) OF THE EXCHANGE ACT |
|---|--------------------------------------------------------------------------------|

**DELANCO      BANCORP, INC.**

| **United                States**                 (State                or other jurisdiction of incorporation or                organization) | **36-4519533**(I.R.S.                Employer Identification No.) |
|----------------------------------------------------------------------------------------------------------------------------------------------------|-------------------------------------------------------------------|

**615      Burlington Avenue, Delanco, New Jersey 08075**

**(856)      461-0611**

**Not      Applicable**

----

**DELANCO      BANCORP, INC.**

**FORM      10-QSB**

**Index**

|                                                                                                          |   | ** *Page                    No.*** |   |
|---------------------------------------------------------------------------------------------------------------|--------|-----------------------------------------|--------|
|                                                                                                          |   |                                    |   |
| **PART                    I. FINANCIAL INFORMATION**                                                          |   |                                    |   |
|                                                                                                          |   |                                    |   |
| Item                    1. Financial Statements                                                               |   |                                    |   |
|                                                                                                          |   |                                    |   |
| Consolidated                    Statements of Financial Condition at                                          |   |                                    |   |
| December                    31, 2007 (Unaudited) and March 31, 2007                                           |   |                                    | 1      |   |
|                                                                                                          |   |                                    |   |   |
| Consolidated                    Statements of Income for the three and nine months                            |   |                                    |   |   |
| ended                    December 31, 2007 and 2006 (Unaudited)                                               |   |                                    | 2      |   |
|                                                                                                          |   |                                    |   |   |
| Consolidated                    Statements of Stockholders’ Equity for the nine months                  |   |                                    |   |   |
| ended                    December 31, 2007 (Unaudited)                                                        |   |                                    | 3      |   |
|                                                                                                          |   |                                    |   |   |
| Consolidated                    Statements of Cash Flows for the nine months ended                            |   |                                    |   |   |
| December                    31, 2007 and 2006 (Unaudited)                                                     |   |                                    | 4      |   |
|                                                                                                          |   |                                    |   |   |
| Notes                    to Unaudited Consolidated Financial Statements                                       |   |                                    | 6      |   |
|                                                                                                          |   |                                    |   |   |
| Item                    2. Management’s Discussion and Analysis or Plan of                    Operation |   |                                    | 8      |   |
|                                                                                                          |   |                                    |   |   |
| Item                    3. Controls and Procedures                                                            |   |                                    | 15     |   |
|                                                                                                          |   |                                    |   |   |
| **PART                    II. OTHER INFORMATION**                                                             |   |                                    |   |   |
|                                                                                                          |   |                                    |   |   |
| Item                    1. Legal Proceedings                                                                  |   |                                    | 16     |   |
|                                                                                                          |   |                                    |   |   |
| Item                    2. Unregistered Sales of Equity Securities and Use of                    Proceeds     |   |                                    | 16     |   |
|                                                                                                          |   |                                    |   |   |
| Item                    3. Defaults upon Senior Securities                                                    |   |                                    | 16     |   |
|                                                                                                          |   |                                    |   |   |
| Item                    4. Submission of Matters to a Vote of Security Holders                                |   |                                    | 16     |   |
|                                                                                                          |   |                                    |   |   |
| Item                    5. Other Information                                                                  |   |                                    | 16     |   |
|                                                                                                          |   |                                    |   |   |
| Item                    6. Exhibits                                                                           |   |                                    | 16     |   |
|                                                                                                          |   |                                    |   |   |
| **Signatures**                                                                                                |   |                                    | 17     |   |

----

**PART      I. FINANCIAL INFORMATION**

**Item      1. Financial Statements**

**DELANCO      BANCORP, INC. AND SUBSIDIARY**

**Consolidated      **
**Statements      of Financial Condition**

|                                                                                                                                                          |   | **December                31,****2007** |                     | **March                31,****2007** |   |
|---------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|-----------------------------------------|--------------------------|--------------------------------------|--------|
|                                                                                                                                                          |   | **(unaudited)**                         |                     |                                 |   |
| **ASSETS**                                                                                                                                                    |   |                                    |                     |                                 |   |
| Cash                and cash equivalents                                                                                                                      |   |                                    |                     |                                 |   |
| Cash                and amounts due from banks                                                                                                                |   | $                                       | 531,613                  |                                 | $      | 271,007 |   |
| Interest-bearing                deposits                                                                                                                      |   |                                    | 11,672,827               |                                 |   | 8,405,373 |   |
| Total                cash and cash equivalents                                                                                                                |   |                                    | 12,204,440               |                                 |   | 8,676,380 |   |
| Investment                securities:                                                                                                                         |   |                                    |                     |                                 |   |   |   |
| Securities                held-to-maturity                                                                                                                    |   |                                    | 14,610,142               |                                 |   | 15,822,529 |   |
| Securities                available-for-sale                                                                                                                  |   |                                    | 275,417                  |                                 |   | 252,647 |   |
| Total                investment securities                                                                                                                    |   |                                    | 14,885,559               |                                 |   | 16,075,176 |   |
| Loans,                net of allowance for loan losses of $463,766 at December 31, 2007                (unaudited), $492,448                at March 31, 2007 |   |                                    | 94,466,237               |                                 |   | 76,497,739 |   |
| Accrued                interest receivable                                                                                                                    |   |                                    | 653,261                  |                                 |   | 425,872 |   |
| Premises                and equipment, net                                                                                                                    |   |                                    | 8,208,384                |                                 |   | 8,422,457 |   |
| Investment                required by law-stock in Federal Home Loan Bank, at cost                                                                            |   |                                    | 139,100                  |                                 |   | 102,700 |   |
| Deferred                income taxes                                                                                                                          |   |                                    | 258,800                  |                                 |   | 240,100 |   |
| Bank-owned                life insurance                                                                                                                      |   |                                    | 124,412                  |                                 |   | 124,412 |   |
| Prepaid                income taxes                                                                                                                           |   |                                    | 98,359                   |                                 |   | 231,230 |   |
| Other                assets                                                                                                                                   |   |                                    | 245,233                  |                                 |   | 265,204 |   |
| Total                assets                                                                                                                                   |   | $                                       | 131,283,785              |                                 | $      | 111,061,270 |   |
|                                                                                                                                                          |   |                                    |                     |                                 |   |   |   |
| **LIABILITIES**                                                                                                                                               |   |                                    |                     |                                 |   |   |   |
| Deposits                                                                                                                                                      |   |                                    |                     |                                 |   |   |   |
| Non-interest                bearing deposits                                                                                                                  |   | $                                       | 4,295,673                |                                 | $      | 3,372,058 |   |
| Interest                bearing deposits                                                                                                                      |   |                                    | 112,022,901              |                                 |   | 92,617,217 |   |
| Total                deposits                                                                                                                                 |   |                                    | 116,318,574              |                                 |   | 95,989,275 |   |
| Accrued                interest payable                                                                                                                       |   |                                    | 318,315                  |                                 |   | 349,178 |   |
| Advance                payments by borrowers for taxes and insurance                                                                                          |   |                                    | 243,600                  |                                 |   | 260,262 |   |
| Other                liabilities                                                                                                                              |   |                                    | 563,733                  |                                 |   | 640,206 |   |
| Total                liabilities                                                                                                                              |   |                                    | 117,444,222              |                                 |   | 97,238,921 |   |
|                                                                                                                                                          |   |                                    |                     |                                 |   |   |   |
| **COMMITMENTS                AND CONTINGENCIES**                                                                                                              |   |                                    |                     |                                 |   |   |   |
|                                                                                                                                                          |   |                                    |                     |                                 |   |   |   |
| **STOCKHOLDERS’                EQUITY**                                                                                                                 |   |                                    |                     |                                 |   |   |   |
| Preferred                stock, $.01 par value, 3,000,000 shares authorized; no shares                issued                                                  |   |                                    | ─                  |                                 |   | ─ |   |
| Common                stock, $.01 par value, 7,000,000 shares authorized; 1,634,725 shares                issued and outstanding                              |   |                                    | 16,347                   |                                 |   | 16,347 |   |
| Additional                paid-in capital                                                                                                                     |   |                                    | 6,688,921                |                                 |   | 6,688,921 |   |
| Retained                earnings, substantially restricted                                                                                                    |   |                                    | 7,801,662                |                                 |   | 7,797,552 |   |
| Unearned                employee stock ownership plan                                                                                                         |   |                                    | (                640,810 | )                                    |   | (                640,810 | ) |
| Accumulated                other comprehensive (loss)                                                                                                         |   |                                    | (                26,557  | )                                    |   | (39,661 | ) |
| Total                stockholder’s equity                                                                                                               |   |                                    | 13,839,563               |                                 |   | 13,822,349 |   |
| Total                liabilities and stockholders’ equity                                                                                               |   | $                                       | 131,283,785              |                                 | $      | 111,061,270 |   |

*See      Notes to the Unaudited Consolidated Financial Statements.*

----

**DELANCO      BANCORP, INC. AND SUBSIDIARY**

**Consolidated      Statements of Income**

**(Unaudited)**

|                                                                         |   | **Three                Months Ended****December                31,** |                     | **Nine                Months Ended****December                31,** |   |
|------------------------------------------------------------------------------|--------|----------------------------------------------------------------------|--------------------------|---------------------------------------------------------------------|--------|
|                                                                         |   | **2007**                                                             |                     | **2006**                                                            |   | **2007** |   | **2006** |   |
| **INTEREST                INCOME**                                           |   |                                                                 |                     |                                                                |   |   |   |   |   |
| Loans                                                                        |   | $                                                                    | 1,626,996                |                                                                | $      | 971,905 |   | $ | 4,723,519 |   | $ | 2,519,679 |   |
| Investment                securities                                         |   |                                                                 | 318,537                  |                                                                |   | 267,251 |   |   | 761,098 |   |   | 764,506 |   |
| Total                interest income                                         |   |                                                                 | 1,945,533                |                                                                |   | 1,239,156 |   |   | 5,484,617 |   |   | 3,284,185 |   |
|                                                                         |   |                                                                 |                     |                                                                |   |   |   |   |   |   |   |   |   |
| **INTEREST                EXPENSE**                                          |   |                                                                 |                     |                                                                |   |   |   |   |   |   |   |   |   |
| Interest-bearing                checking accounts                            |   |                                                                 | 13,371                   |                                                                |   | 10,517 |   |   | 37,109 |   |   | 31,170 |   |
| Passbook                and money market accounts                            |   |                                                                 | 276,148                  |                                                                |   | 210,372 |   |   | 774,391 |   |   | 514,176 |   |
| Certificates                of deposits                                      |   |                                                                 | 826,495                  |                                                                |   | 498,587 |   |   | 2,186,085 |   |   | 1,139,008 |   |
| Advances                from Federal Home Loan Bank                          |   |                                                                 | ─                  |                                                                |   | 4,262 |   |   | 4,946 |   |   | 36,965 |   |
| ** **Total                interest expense                              |   |                                                                 | 1,116,014                |                                                                |   | 723,738 |   |   | 3,002,531 |   |   | 1,721,319 |   |
|                                                                         |   |                                                                 |                     |                                                                |   |   |   |   |   |   |   |   |   |
| ** **Net                interest income                                 |   |                                                                 | 829,519                  |                                                                |   | 515,418 |   |   | 2,482,086 |   |   | 1,562,866 |   |
| Provision                for loan losses                                     |   |                                                                 | 15,000                   |                                                                |   | 15,000 |   |   | 40,000 |   |   | 45,000 |   |
| ** **Net                interest income after provision for loan losses |   |                                                                 | 814,519                  |                                                                |   | 500,418 |   |   | 2,442,086 |   |   | 1,517,866 |   |
|                                                                         |   |                                                                 |                     |                                                                |   |   |   |   |   |   |   |   |   |
|                                                                         |   |                                                                 |                     |                                                                |   |   |   |   |   |   |   |   |   |
| **NONINTEREST                INCOME**                                        |   |                                                                 |                     |                                                                |   |   |   |   |   |   |   |   |   |
| Income                from bank-owned life insurance                         |   |                                                                 | ─                  |                                                                |   | ─ |   |   | ─ |   |   | 5,034 |   |
| Net                gain on sale of securities available-for-sale             |   |                                                                 | ─                  |                                                                |   | 203,280 |   |   | ─ |   |   | 396,989 |   |
| Service                charges                                               |   |                                                                 | 52,282                   |                                                                |   | 28,712 |   |   | 112,675 |   |   | 69,885 |   |
| Rental                income                                                 |   |                                                                 | 7,833                    |                                                                |   | 5,875 |   |   | 17,753 |   |   | 5,875 |   |
| Other                                                                        |   |                                                                 | 15,737                   |                                                                |   | 11,507 |   |   | 42,578 |   |   | 33,545 |   |
| ** **Total                noninterest income                            |   |                                                                 | 75,852                   |                                                                |   | 249,374 |   |   | 173,006 |   |   | 511,328 |   |
|                                                                         |   |                                                                 |                     |                                                                |   |   |   |   |   |   |   |   |   |
| **NONINTEREST                EXPENSE**                                       |   |                                                                 |                     |                                                                |   |   |   |   |   |   |   |   |   |
| ** **Salaries                and employee benefits                      |   |                                                                 | 496,867                  |                                                                |   | 412,461 |   |   | 1,408,215 |   |   | 1,170,377 |   |
| Advertising                                                                  |   |                                                                 | 17,331                   |                                                                |   | 19,228 |   |   | 43,107 |   |   | 39,017 |   |
| Office                supplies, telephone and postage                        |   |                                                                 | 20,925                   |                                                                |   | 25,813 |   |   | 91,410 |   |   | 71,460 |   |
| Net                occupancy expense                                         |   |                                                                 | 186,547                  |                                                                |   | 148,278 |   |   | 521,792 |   |   | 293,586 |   |
| Federal                insurance premiums                                    |   |                                                                 | 5,629                    |                                                                |   | 2,116 |   |   | 12,541 |   |   | 6,132 |   |
| Data                processing expenses                                      |   |                                                                 | 30,721                   |                                                                |   | 23,652 |   |   | 94,452 |   |   | 89,502 |   |
| ATM                expenses                                                  |   |                                                                 | 15,842                   |                                                                |   | 13,217 |   |   | 45,681 |   |   | 38,689 |   |
| Bank                charges and fees                                         |   |                                                                 | 14,229                   |                                                                |   | 10,397 |   |   | 40,947 |   |   | 36,645 |   |
| Insurance                and surety bond premiums                            |   |                                                                 | 15,925                   |                                                                |   | 10,398 |   |   | 45,512 |   |   | 30,551 |   |
| Dues                and subscriptions                                        |   |                                                                 | 18,086                   |                                                                |   | 7,932 |   |   | 54,825 |   |   | 25,967 |   |
| Professional                fees                                             |   |                                                                 | 50,356                   |                                                                |   | 9,000 |   |   | 88,899 |   |   | 27,000 |   |
| On-line                banking expense                                       |   |                                                                 | 22,089                   |                                                                |   | 12,719 |   |   | 65,605 |   |   | 42,211 |   |
| Other                                                                        |   |                                                                 | 41,755                   |                                                                |   | 50,873 |   |   | 122,721 |   |   | 131,577 |   |
| Total                noninterest expense                                     |   |                                                                 | 936,302                  |                                                                |   | 746,084 |   |   | 2,635,707 |   |   | 2,002,714 |   |
|                                                                         |   |                                                                 |                     |                                                                |   |   |   |   |   |   |   |   |   |
| **INCOME                (LOSS) BEFORE INCOME TAX EXPENSE (BENEFIT)**         |   |                                                                 | (                45,931  | )                                                                   |   | 3,708 |   |   | (                20,615 | ) |   | 26,480 |   |
|                                                                         |   |                                                                 |                     |                                                                |   |   |   |   |   |   |   |   |   |
| Federal                income tax (benefit)                                  |   |                                                                 | (                23,512  | )                                                                   |   | 447 |   |   | (                22,916 | ) |   | 2,100 |   |
| State                income tax (benefit)                                    |   |                                                                 | (                2,000   | )                                                                   |   | (                602 | ) |   | (                1,809 | ) |   | 400 |   |
| ** **Total                income tax (benefit)                          |   |                                                                 | (                25,512  | )                                                                   |   | (                155 | ) |   | (                24,725 | ) |   | 2,500 |   |
|                                                                         |   |                                                                 |                     |                                                                |   |   |   |   |   |   |   |   |   |
| **NET                INCOME (LOSS)**                                         |   |                                                                 | ($                20,419 | )                                                                   | $      | 3,863 |   | $ | 4,110 |   | $ | 23,980 |   |
| **INCOME                PER COMMON SHARE**                                   |   |                                                                 | ($                0.01   | )                                                                   |   | N/A |   | $ | 0.00 |   |   | N/A |   |

*See      Notes to the Unaudited Consolidated Financial Statements*
*.*

----

**DELANCO      BANCORP, INC. AND SUBSIDIARY**

**Consolidated      Statements of Stockholders’ Equity**

**(Unaudited)**

|                                                                                                                                    |   | **Common                Stock** |      | **Additional****Paid-in** |   | **Retained**      |   | **Unearned****Employee                  Stock****Ownership** |      | **Accumulated****Other-Comprehensive** |   | **Total****Stockholders’**   |   |
|-----------------------------------------------------------------------------------------------------------------------------------------|--------|---------------------------------|-----------|---------------------------|--------|-------------------|--------|--------------------------------------------------------------|-----------|----------------------------------------|--------|------------------------------------|--------|
|                                                                                                                                    |   | **Shares**                      |      | **Amount**                |   | **Capital**  |   | **Earnings**                                                 |      | **Plan**                               |   | **Income                  (Loss)** |   | **Equity** |   |
| **Balance                at March 31, 2007**                                                                                            |   |                            | 1,634,725 |                      | $      | 16,347            |   | $                                                            | 6,688,921 |                                   | $      | 7,797,552                          |   | $ | (640,810 | ) | $ | (                39,661 | ) | $ | 13,822,349 |   |
| **Comprehensive                income**                                                                                                 |   |                            |      |                      |   |              |   |                                                         |      |                                   |   |                               |   |   |   |   |   |   |   |   |   |   |
| Net                income                                                                                                               |   |                            |      |                      |   |              |   |                                                         |      |                                   |   | 4,110                              |   |   |   |   |   |   |   |   | 4,110 |   |
| Other                comprehensive income, net of tax:                                                                                  |   |                            |      |                      |   |              |   |                                                         |      |                                   |   |                               |   |   |   |   |   |   |   |   |   |   |
| Change                in unrealized gain (loss) on securities available-for-sale,                net of deferred income taxes of $8,736 |   |                            |      |                      |   |              |   |                                                         |      |                                   |   |                               |   |   |   |   |   | 13,104 |   |   | 13,104 |   |
| Total                comprehensive income                                                                                               |   |                            |      |                      |   |              |   |                                                         |      |                                   |   |                               |   |   |   |   |   |   |   |   | 17,214 |   |
| **Balance                at December 31, 2007**                                                                                         |   |                            | 1,634,725 |                      | $      | 16,347            |   | $                                                            | 6,688,921 |                                   | $      | 7,801,662                          |   | $ | (640,810 | ) | $ | (26,557 | ) | $ | 13,839,563 |   |

*See      Notes to the Unaudited Consolidated Financial Statements.*

----

**DELANCO      BANCORP, INC. AND SUBSIDIARY**

**Consolidated      **
**Statements      of Cash Flows**

**(Unaudited)**

|                                                                                                            |   | **Nine                Months Ended****December                31,** |                        |
|-----------------------------------------------------------------------------------------------------------------|--------|---------------------------------------------------------------------|-----------------------------|
|                                                                                                            |   | **2007**                                                            |                        | **2006** |   |
| **Cash                flow from operating activities**                                                          |   |                                                                |                        |   |   |
| Net                income                                                                                       |   | $                                                                   | 4,110                       |   | $ | 23,980 |   |
| Adjustments                to reconcile net income to net cash provided by operating                activities: |   |                                                                |                        |   |   |   |   |
| Deferred                income taxes                                                                            |   |                                                                | (                27,437     | ) |   | (                190,700 | ) |
| Depreciation                                                                                                    |   |                                                                | 239,865                     |   |   | 145,230 |   |
| Discount                accretion net of premium amortization                                                   |   |                                                                | (                26,687     | ) |   | (                8,747 | ) |
| Provision                for loan losses                                                                        |   |                                                                | 40,000                      |   |   | 45,000 |   |
| Net                gain on sale of securities available-for-sale                                                |   |                                                                | ─                     |   |   | (                396,989 | ) |
| Loss                from bank-owned life insurance                                                              |   |                                                                | ─                     |   |   | (                5,034 | ) |
|                                                                                                            |   |                                                                |                        |   |   |   |   |
| **Changes                in operating assets and liabilities**                                                  |   |                                                                |                        |   |   |   |   |
| **(Increase)                decrease in:**                                                                      |   |                                                                |                        |   |   |   |   |
| Accrued                interest receivable                                                                      |   |                                                                | (                227,389    | ) |   | (                126,472 | ) |
| Other                assets                                                                                     |   |                                                                | 19,971                      |   |   | (                154,410 | ) |
| Prepaid                income taxes                                                                             |   |                                                                | 132,871                     |   |   | (                154,985 | ) |
| **Increase                (decrease) in:**                                                                      |   |                                                                |                        |   |   |   |   |
| Accrued                interest payable                                                                         |   |                                                                | (                30,863     | ) |   | 144,843 |   |
| Other                liabilities                                                                                |   |                                                                | (                76,473     | ) |   | 166,867 |   |
| Net                cash provided by (used in) operating activities                                              |   |                                                                | 47,968                      |   |   | (                511,417 | ) |
|                                                                                                            |   |                                                                |                        |   |   |   |   |
| **Cash                flow from investing activities**                                                          |   |                                                                |                        |   |   |   |   |
| Purchases                of securities available-for-sale                                                       |   |                                                                | (929                        | ) |   | ─ |   |
| Purchases                of securities held-to-maturity                                                         |   |                                                                | (1,500,000                  | ) |   | (                3,963 | ) |
| Proceeds                from sale of securities available-for-sale                                              |   |                                                                | ─                     |   |   | 402,670 |   |
| Proceeds                from maturities and principal repayments of securities                held-to-maturity  |   |                                                                | 2,739,074                   |   |   | 2,716,605 |   |
| Purchase                of investment required by law - stock in                Federal Home Loan Bank          |   |                                                                | (36,400                     | ) |   | 3,000 |   |
| Net                increase in loans                                                                            |   |                                                                | (                18,008,498 | ) |   | (                22,145,595 | ) |
| Purchases                of premises and equipment                                                              |   |                                                                | (                25,792     | ) |   | (                1,702,338 | ) |
| Net                cash used in investing activities                                                            |   |                                                                | (                16,832,545 | ) |   | (20,729,621 | ) |
|                                                                                                            |   |                                                                |                        |   |   |   |   |
| **Cash                flows from financing activities**                                                         |   |                                                                |                        |   |   |   |   |
| Net                increase in deposits                                                                         |   |                                                                | 20,329,299                  |   |   | 22,046,485 |   |
| Net                increase in advance payments by borrowers                for taxes and insurance             |   |                                                                | (                16,662     | ) |   | 1,481 |   |
| Net                increase in advances from FHLB                                                               |   |                                                                | ─                     |   |   | ─ |   |
| Net                cash provided by financing activities                                                        |   |                                                                | 20,312,637                  |   |   | 22,047,966 |   |

----

|                                                                                                        |   | **Nine                Months Ended****December                31,** |       |
|-------------------------------------------------------------------------------------------------------------|--------|---------------------------------------------------------------------|------------|
|                                                                                                        |   | **2007**                                                            |       | **2006** |   |
| **Net                increase in cash and cash equivalents**                                                |   | $                                                                   | 3,528,060  |   | $ | 806,928 |   |
|                                                                                                        |   |                                                                |       |   |   |   |   |
| Cash                and cash equivalents, beginning of the period                                           |   |                                                                | 8,676,380  |   |   | 5,553,058 |   |
|                                                                                                        |   |                                                                |       |   |   |   |   |
| Cash                and cash equivalents, end of period                                                     |   | $                                                                   | 12,204,440 |   | $ | 6,359,986 |   |
|                                                                                                        |   |                                                                |       |   |   |   |   |
| **Supplemental                Disclosures:**                                                                |   |                                                                |       |   |   |   |   |
|                                                                                                        |   |                                                                |       |   |   |   |   |
| Cash                paid during the period for interest                                                     |   | $                                                                   | 3,033,394  |   | $ | 1,544,099 |   |
|                                                                                                        |   |                                                                |       |   |   |   |   |
| Cash                paid during the period for income taxes                                                 |   | $                                                                   | ─    |   | $ | 87,894 |   |
|                                                                                                        |   |                                                                |       |   |   |   |   |
| Loans                transferred to foreclosed real estate during the period                                |   | $                                                                   | ─    |   | $ | ─ |   |
|                                                                                                        |   |                                                                |       |   |   |   |   |
| Proceeds                from sales of foreclosed real estate financed through                loans          |   | $                                                                   | ─    |   | $ | ─ |   |
|                                                                                                        |   |                                                                |       |   |   |   |   |
| Total                increase (decrease) in unrealized gain on securities                available-for-sale |   | $                                                                   | 21,840     |   |   | ($                193,355 | ) |

*See      Notes to the Unaudited Consolidated Financial Statements.*

----

**DELANCO      BANCORP, INC. AND SUBSIDIARY**

**Notes      to the Unaudited Consolidated Financial Statements**

**December      31, 2007**

**(1)**
**Basis      of Presentation**

**(2)**
**Stock      Issuance **

**(3)      **
**Earnings      Per Share**

----

|                                         |   | **Three                Months Ended****December                31,** |                     | **Nine                Months Ended****December                31,** |   |
|----------------------------------------------|--------|----------------------------------------------------------------------|--------------------------|---------------------------------------------------------------------|--------|
|                                         |   | **2007**                                                             |                     | **2006**                                                            |   | **2007** |   | **2006** |   |
| Numerator                                    |   |                                                                 | ($                20,419 | )                                                                   |   | — |   | $ | 4,110 |   |   | — |   |
| Denominators:                                |   |                                                                 |                     |                                                                |   |   |   |   |   |   |   |   |   |
| Basic                shares outstanding      |   |                                                                 | 1,570,644                |                                                                |   | — |   |   | 1,570,644 |   |   | — |   |
| Effect                of dilutive securities |   |                                                                 | —                  |                                                                |   | — |   |   | — |   |   | — |   |
| Dilutive                shares outstanding   |   |                                                                 | 1,570,644                |                                                                |   | — |   |   | 1,570,644 |   |   | — |   |
| Earnings                per share:           |   |                                                                 |                     |                                                                |   |   |   |   |   |   |   |   |   |
| Basic                                        |   |                                                                 | ($                0.01   | )                                                                   |   | — |   | $ | 0.00 |   |   | — |   |
| Dilutive                                     |   |                                                                 | ($                0.01   | )                                                                   |   | — |   | $ | 0.00 |   |   | — |   |

**(4)**
**Supervisory      Agreement **

|  | · | To                refrain from making, investing in, purchasing or otherwise modifying                any                commercial  loan                without the prior written non-objection of the                OTS. |
|--|--------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | · | By                December 31, 2007, to review each commercial loan file with an                outstanding principal                balance that equals or exceeds $250,000, and by February 29, 2008                for all                other  commercial                loans, to determine whether all required documentation has been                obtained. All                missing or incomplete documentation must be obtained by January 31,                2008                for all  commercial                loans with an outstanding principal balance that equals or exceeds                $250,000  and                by February 29, 2008 for all other commercial                loans. |
|--|--------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | · | By                January 31, 2008, to implement a credit administration process utilizing                an electronic system                and checklists to facilitate ongoing reviews of the financial condition                of  borrowers                and guarantors. |
|--|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | · | To                evaluate, on a semiannually basis, the effectiveness of the Bank’s                credit  administration                function. |
|--|--------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | · | To                engage an independent, third-party service provider to conduct an                internal                loan review  of                the Bank’s lending operations on a quarterly basis. As part of the                internal loan review  program,                the Bank must develop and implement a risk rating system for all                loans. On                a  quarterly                basis, the Board’s Audit Committee must provide the Board with, and                the  Board                must review and evaluate, a written report documenting the findings                and recommendations                relating to the internal loan                reviews. |
|--|--------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

|  | · | By                December 31, 2007, to adopt and implement a written program which                satisfies certain  OTS                regulations and interagency guidelines regarding the identification                and                classification  of                problem assets. The program must (i) provide for and require the                maintenance of an  adequate                allowance for loan and lease losses; (ii) ensure the prompt charge-off                of                loans  when                proper; and (iii) require the timely and accurate reporting of criticized                assets, the allowance                for loan and lease losses and charge-offs in the Bank’s Thrift                Financial  Reports                (TFRs). |
|--|--------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | · | To                prepare TFRs accurately and in accordance with applicable                instructions. |
|--|--------|----------------------------------------------------------------------------------------------------------|

|  | · | To                ensure that at the end of each quarter, the Bank’s assets have not                increased by an  amount                greater than 2.5% of the Bank’s total assets at the end of the prior                quarter. |
|--|--------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | · | To                notify and receive the non-objection of the OTS before adding or                replacing                any Board  member,                employing any person as a senior executive officer or entering into                or                revising  any                contractual arrangement with any director or senior executive officer. |
|--|--------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

**(5)      Recent Developments**

**Item      2. Management’s Discussion and Analysis or Plan of      Operation**

**Forward-Looking      Statements**

----

**General**

**Balance      Sheet Analysis**

***Overview***
**.      **

***Loans***

----

| **Table                1: Loan Portfolio Analysis** |   |
|-----------------------------------------------------|--------|
|                                                |   |   |   |   |   |
|                                                |   | **December                31,** |   | **March                31,** |   |
|                                                |   | **2007** |   | **2007** |   |
| (Dollars                in thousands)               |   | **Amount** |   | **Percent** |   | **Amount** |   | **Percent** |   |
| Real                estate loans:                   |   |   |   |   |   |   |   |   |   |
| Residential                                         |   | $ | 31,966 |   |   | 33.2 | % | $ | 24,112 |   |   | 30.9 | % |
| Commercial                and multi-family          |   |   | 24,308 |   |   | 25.3 |   |   | 12,681 |   |   | 16.3 |   |
| Construction                                        |   |   | 3,001 |   |   | 3.1 |   |   | 2,061 |   |   | 2.6 |   |
| Total                real estate loans              |   |   | 59,275 |   |   | 61.6 |   |   | 38,854 |   |   | 49.8 |   |
| Commercial                loans                     |   |   | 9,720 |   |   | 10.1 |   |   | 15,124 |   |   | 19.4 |   |
| Consumer                loans                       |   |   | 27,227 |   |   | 28.3 |   |   | 24,066 |   |   | 30.8 |   |
| Total                loans                          |   |   | 96,222 |   |   | 100.0 | % |   | 78,044 |   |   | 100.0 | % |
| Loans                in process                     |   |   | (                1,143 | ) |   |   |   |   | (                916 | ) |   |   |   |
| Net                deferred loan fees               |   |   | (                149 | ) |   |   |   |   | (                138 | ) |   |   |   |
| Allowance                for losses                 |   |   | (                464 | ) |   |   |   |   | (                492 | ) |   |   |   |
| Loans,                net                           |   | $ | 94,466 |   |   |   |   | $ | 76,498 |   |   |   |   |

| **Table                2: Nonperforming Assets**                                                          |   |
|-----------------------------------------------------------------------------------------------------------|--------|
|                                                                                                      |   |
|                                                                                                      |   | **December                31,** |   | **March                31,** |   |
| (Dollars                in thousands)                                                                     |   | **2007** |   | **2007** |   |
| Nonaccrual                loans                                                                           |   | $ | ─ |   | $ | — |   |
| Accruing                loans past due 90 days or more                                                    |   |   | 1,207 |   |   | 564 |   |
| Total                of nonaccrual and 90 days or more past due loans                                     |   |   | 1,207 |   |   | 564 |   |
| Real                estate owned                                                                          |   |   | ─ |   |   | — |   |
| Other                nonperforming assets                                                                 |   |   | ─ |   |   | — |   |
| Total                nonperforming assets                                                                 |   |   | 1,207 |   |   | 564 |   |
| Troubled                debt restructurings                                                               |   |   | ─ |   |   | — |   |
| Troubled                debt restructurings and total nonperforming assets                                |   | $ | 1,207 |   | $ | 564 |   |
|                                                                                                      |   |   |   |   |   |   |   |
| Total                nonperforming loans to total loans                                                   |   |   | 1.3 | % |   | 0.7 | % |
| Total                nonperforming loans to total assets                                                  |   |   | 0.9 |   |   | 0.5 |   |
| Total                nonperforming assets and troubled debt restructurings to total                assets |   |   | 0.9 |   |   | 0.5 |   |

***Non      Performing Loans.***

***Securities.***

----

| **Table                3: Investment Securities**    |   |
|------------------------------------------------------|--------|
|                                                 |   |   |   |   |   |
|                                                 |   | **December                31,** |   | **March                31,** |   |
|                                                 |   | **2007** |   | **2007** |   |
| (Dollars                in thousands)                |   | **Amortized****Cost** |   | **Fair****Value** |   | **Amortized****Cost** |   | **Fair****Value** |   |
| Securities                available for sale:        |   |   |   |   |   |   |   |   |   |
| Mutual                funds                          |   | $ | 212 |   | $ | 275 |   | $ | 212 |   | $ | 253 |   |
| Equity                securities                     |   |   | ─ |   |   | ─ |   |   | — |   |   | — |   |
| Total                available for sale              |   |   | 212 |   |   | 275 |   |   | 212 |   |   | 253 |   |
|                                                 |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Securities                held to maturity:          |   |   |   |   |   |   |   |   |   |   |   |   |   |
| U.S.                Government and agency securities |   |   | 5,500 |   |   | 5,499 |   |   | 4,000 |   |   | 3,942 |   |
| Mortgage-backed                securities            |   |   | 9,110 |   |   | 9,246 |   |   | 11,822 |   |   | 11,810 |   |
| Total                held to maturity                |   |   | 14,610 |   |   | 14,745 |   |   | 15,822 |   |   | 15,752 |   |
| Total                                                |   | $ | 14,822 |   | $ | 15,020 |   | $ | 16,034 |   | $ | 16,005 |   |

***Deposits***

| **Table                4: Deposits**               |   |
|----------------------------------------------------|--------|
|                                               |   |
|                                               |   | **December                31,** |   | **March                31,** |   |
|                                               |   | **2007** |   | **2007** |   |
| (Dollars                in thousands)              |   | **Amount** |   | **Percent** |   | **Amount** |   | **Percent** |   |
| Noninterest-bearing                demand deposits |   | $ | 4,296 |   |   | 3.7 | % | $ | 3,372 |   |   | 3.5 | % |
| Interest-bearing                demand deposits    |   |   | 8,328 |   |   | 7.1 |   |   | 7,930 |   |   | 8.3 |   |
| Savings                and money market accounts   |   |   | 35,549 |   |   | 30.6 |   |   | 33,163 |   |   | 34.5 |   |
| Certificates                of deposit             |   |   | 68,146 |   |   | 58.6 |   |   | 51,524 |   |   | 53.7 |   |
| Total                                              |   | $ | 116,319 |   |   | 100.0 | % | $ | 95,989 |   |   | 100.0 | % |

***Borrowings***

**Results      of Operations for the Nine Months Ended December 31, 2007 and      2006**

***Financial      Highlights.***

| **Table                5: Summary Income Statements**                     |   |     |    |     |   |                            |   |                        |   |
|---------------------------------------------------------------------------|--------|----------|---------|----------|--------|---------------------------------|--------|-----------------------------|--------|
|                                                                      |   |     |    |     |   |                            |   |                        |   |
| Nine                months ended December 31, (Dollars in thousands) |   | **2007** |    | **2006** |   | **2007                v. 2006** |   | **%                Change** |   |
| Net                interest income                                        |   | $        | 2,482   |     | $      | 1,563                           |   | $                           | 919    |   |   | 58.8 | % |
| Provision                for loan losses                                  |   |     | 40      |     |   | 45                              |   |                        | (5     | ) |   | (                11.1 | ) |
| Noninterest                income                                         |   |     | 173     |     |   | 511                             |   |                        | (338   | ) |   | (66.1 | ) |
| Noninterest                expenses                                       |   |     | 2,636   |     |   | 2,003                           |   |                        | 633    |   |   | 31.6 |   |
| Net                income                                                 |   |     | 4       |     |   | 24                              |   |                        | (20    | ) |   | (                83.3 | ) |
|                                                                      |   |     |    |     |   |                            |   |                        |   |   |   |   |   |
| Return                on average equity (annualized)                      |   |     | .04     | %        |   | .40                             | %      |                        |   |   |   |   |   |
| Return                on average assets (annualized)                      |   |     | ─ |     |   | .04                             |   |                        |   |   |   |   |   |

----

***Net      Interest Income.***

| **Table                6: Analysis of Net Interest Income**                         |   |     |    |     |   |                            |   |                        |                   |
|-------------------------------------------------------------------------------------|--------|----------|---------|----------|--------|---------------------------------|--------|-----------------------------|------------------------|
|                                                                                |   |     |    |     |   |                            |   |                        |                   |
| Nine                months ended December 31, (Dollars                in thousands) |   | **2007** |    | **2006** |   | **2007                v. 2006** |   | **%                Change** |                   |
| **Components                of net interest income**                                |   |     |    |     |   |                            |   |                        |                   |
| Loans                                                                               |   | $        | 4,724   |     | $      | 2,519                           |   | $                           | 2,205                  |   |   | 87.5 | % |
| Investment                securities                                                |   |     | 761     |     |   | 765                             |   |                        | (4                     | ) |   | (                0.5 | ) |
| Total                interest income                                                |   |     | 5,485   |     |   | 3,284                           |   |                        | 2,201                  |   |   | 67.0 |   |
| Deposits                                                                            |   |     | 2,998   |     |   | 1,684                           |   |                        | 1,314                  |   |   | 78.0 |   |
| Borrowings                                                                          |   |     | 5       |     |   | 37                              |   |                        | (32                    | ) |   | (                86.5 | ) |
| Total                interest expense                                               |   |     | 3,003   |     |   | 1,721                           |   |                        | 1,282                  |   |   | 74.5 |   |
| Net                interest income                                                  |   |     | 2,482   |     |   | 1,563                           |   |                        | 919                    |   |   | 58.8 |   |
| **Average                yields and rates paid**                                    |   |     |    |     |   |                            |   |                        |                   |   |   |   |   |
| Interest-earning                assets                                              |   |     | 6.44    | %        |   | 5.76                            | %      |                        | 68                     | bp |   |   |   |
| Interest-bearing                liabilities                                         |   |     | 3.83    |     |   | 3.12                            |   |                        | 71                     | bp |   |   |   |
| Interest                rate spread                                                 |   |     | 2.61    |     |   | 2.64                            |   |                        | (03)                   | bp |   |   |   |
| Net                interest margin                                                  |   |     | 2.92    |     |   | 2.74                            |   |                        | 18                     | bp |   |   |   |
| **Average                balances**                                                 |   |     |    |     |   |                            |   |                        |                   |   |   |   |   |
| Loans                                                                               |   | $        | 91,342  |     | $      | 53,793                          |   | $                           | 37,549                 |   |   | 69.8 | % |
| Investment                securities                                                |   |     | 14,523  |     |   | 19,254                          |   |                        | (                4,731 | ) |   | (                24.6 | ) |
| Other                earning assets                                                 |   |     | 7,608   |     |   | 2,990                           |   |                        | 4,618                  |   |   | 154.4 |   |
| Interest-bearing                deposits                                            |   |     | 104,288 |     |   | 72,689                          |   |                        | 31,599                 |   |   | 43.5 |   |
| Borrowings                                                                          |   |     | 139     |     |   | 878                             |   |                        | (                739   | ) |   | (                84.2 | ) |

***Provision      for Loan Losses.***

----

| **Table                7: Analysis of Loan Loss Experience**                                              |   |
|-----------------------------------------------------------------------------------------------------------|--------|
|                                                                                                      |   |
| Nine                months ended December 31, (Dollars                in thousands)                       |   | **2007** |   | **2006** |   |
| Allowance                at beginning of period                                                           |   | $ | 492 |   | $ | 237 |   |
| Provision                for loan losses                                                                  |   |   | 40 |   |   | 45 |   |
| Total                charge-offs                                                                          |   |   | (                68 | ) |   | ─ |   |
| Recoveries                                                                                                |   |   | ─ |   |   | ─ |   |
| Net                charge-offs                                                                            |   |   | (                68 | ) |   |   |   |
| Allowance                at end of period                                                                 |   | $ | 464 |   | $ | 282 |   |
|                                                                                                      |   |   |   |   |   |   |   |
| Allowance                to nonperforming loans                                                           |   |   | 38.4 | % |   | 110.02 | % |
| Allowance                to total loans outstanding at the end of the period                              |   |   | .48 |   |   | .44 |   |
| Net                charge-offs (recoveries) to average loans outstanding during                the period |   |   | .07 |   |   | ─ |   |

***Noninterest      Income.***

|  **Table              8: Noninterest Income Summary**                               |   |     |    |     |   |                        |   |                        |                 |
|------------------------------------------------------------------------------------------|--------|----------|---------|----------|--------|-----------------------------|--------|-----------------------------|----------------------|
|                                                                                     |   |     |    |     |   |                        |   |                        |                 |
| Nine                months ended December 31, (Dollars                in thousands) |   | **2007** |    | **2006** |   | **$                Change** |   | **%                Change** |                 |
| Income                from bank-owned life insurance                                     |   | $        | ─ |     | $      | 5                           |   | $                           | (                5   | ) |   | (                100.0 | )% |
| Gain                (loss) on sale of securities                                         |   |     | ─ |     |   | 397                         |   |                        | (                397 | ) |   | (                100.0 | ) |
| Service                charges                                                           |   |     | 113     |     |   | 70                          |   |                        | 43                   |   |   | 61.4 |   |
| Rental                income                                                             |   |     | 18      |     |   | 6                           |   |                        | 12                   |   |   | 200.0 |   |
| Other                                                                                    |   |     | 42      |     |   | 33                          |   |                        | 9                    |   |   | 27.3 |   |
| Total                                                                                    |   | $        | 173     |     | $      | 511                         |   | $                           | (                338 | ) |   | (                66.1 | )% |

***Noninterest      Expenses.***

| **Table                9: Noninterest Expense Summary**              |   |     |   |     |   |                        |   |                        |               |
|----------------------------------------------------------------------|--------|----------|--------|----------|--------|-----------------------------|--------|-----------------------------|--------------------|
|                                                                 |   |     |   |     |   |                        |   |                        |               |
| Nine                months ended December 31, (Dollars in thousands) |   | **2007** |   | **2006** |   | **$                Change** |   | **%                Change** |               |
| Salaries                and employee benefits                        |   | $        | 1,408  |     | $      | 1,170                       |   | $                           | 238                |   |   | 20.3 | % |
| Advertising                                                          |   |     | 43     |     |   | 39                          |   |                        | 4                  |   |   | 10.3 |   |
| Office                supplies, telephone and postage                |   |     | 91     |     |   | 71                          |   |                        | 20                 |   |   | 28.2 |   |
| Net                occupancy expense                                 |   |     | 522    |     |   | 294                         |   |                        | 228                |   |   | 77.6 |   |
| Federal                insurance premiums                            |   |     | 12     |     |   | 6                           |   |                        | 6                  |   |   | 100.0 |   |
| Data                processing expenses                              |   |     | 94     |     |   | 89                          |   |                        | 5                  |   |   | 5.6 |   |
| ATM                expenses                                          |   |     | 46     |     |   | 39                          |   |                        | 7                  |   |   | 17.9 |   |
| Bank                charges and fees                                 |   |     | 41     |     |   | 37                          |   |                        | 4                  |   |   | 10.8 |   |
| Insurance                and surety bond premiums                    |   |     | 46     |     |   | 31                          |   |                        | 15                 |   |   | 48.3 |   |
| Dues                and subscriptions                                |   |     | 55     |     |   | 26                          |   |                        | 29                 |   |   | 111.5 |   |
| Professional                fees                                     |   |     | 89     |     |   | 27                          |   |                        | 62                 |   |   | 229.6 |   |
| On-line                banking expenses                              |   |     | 66     |     |   | 42                          |   |                        | 24                 |   |   | 57.1 |   |
| Other                                                                |   |     | 123    |     |   | 132                         |   |                        | (                9 | ) |   | (                6.8 | ) |
| Total                                                                |   | $        | 2,636  |     | $      | 2,003                       |   | $                           | 633                |   |   | 31.6 | % |

**L**
**iquidity      and Capital Management**

***Liquidity      Management.***

----

***Capital      Management.***

**Off-Balance      Sheet Arrangements**

----

**Item      3. Controls and Procedures**

----

**PART      II. OTHER INFORMATION**

**Item      1.**
**      Legal Proceedings**

**Item      2.**
**      Unregistered Sales of Equity Securities and Use of      Proceeds**

**Item      3.**
**      Defaults upon Senior Securities**

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

**Item      5.**
**      Other Information**

**Item      6.**
**      Exhibits**

|   | 3.1 | Charter                of Delanco Bancorp, Inc. (1) |
|--------|-----|-----------------------------------------------------|

|   | 3.2 | Bylaws                of Delanco Bancorp, Inc. (1) |
|--------|-----|----------------------------------------------------|

|   | 4.0 | Stock                Certificate of Delanco Bancorp, Inc.                (1) |
|--------|-----|------------------------------------------------------------------------------|

|   | 10.1 | Supervisory                Agreement, dated December 17, 2007, by and between Delanco Federal                Savings Bank and the Office of Thrift Supervision                (2) |
|--------|------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 31.1 | Rule                13a-14(a)/15d-14(a) Certification of Chief Executive Officer and                Chief                Financial Officer |
|--------|------|--------------------------------------------------------------------------------------------------------------------------------------------|

|   | 32.0 | Section                1350 Certification |
|--------|------|-------------------------------------------|

----

|   | (1) | Incorporated                by reference into this document from the Exhibits filed with the                Securities and Exchange Commission on the Registration Statement                on Form                SB-2, and any amendments thereto, Registration No.                333-139339. |
|--------|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (2) | Incorporated                by reference from Exhibit 99.1 of the Form 8-K filed with the                Securities and Exchange Commission on December 20,                2007. |
|--------|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

**SIGNATURES**

|                                  |                                                                                                                                                                                                          |                                   |
|---------------------------------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|----------------------------------------|
|                                  | DELANCO                BANCORP, INC.                                                                                                                                                                          |
|                             |                                                                                                                                                                                                     |                              |
| Dated:              February 13, 2007 | By:                                                                                                                                                                                                 | /s/              Douglas R. Allen, Jr. |
|                                  | Douglas                R. Allen, Jr.Chief                Executive Officer andChief                Financial Officer(principal                  executive, financial and accounting                  officer) |

----