10-Q

UNITED STATES

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 December 31, 2009

or

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

For transition period from              to             

Commission File Number 001-34593

OBA FINANCIAL SERVICES, INC.

(Exact Name of Registrant as Specified in Charter)

Maryland	27-1898270
(State or Other Jurisdiction of Incorporation)	(I.R.S. Employer Identification No.)
20300 Seneca Meadows Parkway, Germantown, Maryland	20876
(Address of Principal Executive Offices)	(Zip Code)

(301) 916-0742

Registrant’s telephone number, including area code

Not Applicable

(Former name or former address, if changed since last report)

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 requirements for the past 90 days.     Yes  ¨    No  x.

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files).     Yes  ¨    No  ¨

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, or a non-accelerated filer, or a smaller reporting company. See definitions of “large accelerated filer,” “accelerated filer” and “smaller reporting company” in Rule 12b-2 of the Exchange Act. (Check one):

Large accelerated filer	¨	Accelerated filer	¨
Non-accelerated filer	¨	Smaller reporting company	x

Indicate by check mark whether the Registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).    Yes  ¨    No  x.

Indicate the number of shares outstanding of each of the Issuer’s classes of common stock as of the latest practicable date.

4,628,750 shares of Common Stock, par value $0.01 per share, were issued and outstanding as of February 16, 2010.

OBA FINANCIAL SERVICES, INC.

Form 10-Q Quarterly Report

Table of Contents

PART I – FINANCIAL INFORMATION
	Forward-Looking Statements Disclosure	3
Item 1.	Financial Statements
	Consolidated Statements of Condition (Unaudited) As of December 31, 2009 and June 30, 2009	6
	Consolidated Statements of Operations (Unaudited) for three and six months ended December 31, 2009 and 2008	7
	Consolidated Statements of Equity and Comprehensive Income (Loss) (Unaudited) for six months ended December 31, 2009 and 2008	8
	Consolidated Statements of Cash Flows (Unaudited) for the six months ended December 31, 2009 and 2008	9
	Notes to Consolidated Financial Statements (Unaudited)	10
Item 2.	Management’s Discussion and Analysis of Financial Condition and Results of Operations	25
Item 3.	Quantitative and Qualitative Disclosures about Market Risk	33
Item 4.	Controls and Procedures	33
Item 4T.	Controls and Procedures	33
PART II – OTHER INFORMATION
Item 1.	Legal Proceedings	34
Item 1A.	Risk Factors	34
Item 2.	Unregistered Sales of Equity Securities and Use of Proceeds	34
Item 3.	Defaults Upon Senior Securities	34
Item 4.	Submission of Matters to a Vote of Security Holders	34
Item 5.	Other Information	34
Item 6.	Exhibits	34
Signatures		35

EXPLANATORY NOTE

OBA Financial Services, Inc., a Maryland Corporation (the “Registrant”), was formed to serve as the stock holding company for OBA Bank as part of the mutual-to-stock conversion of OBA Bancorp, MHC (the “MHC”). As of December 31, 2009, the conversion had not been completed, and, as of that date, the Registrant had no assets or liabilities, and had not conducted any business other than that of an organizational nature. Accordingly, financial and other information of the MHC is included in this Quarterly Report.

Forward-looking Statements

This report, as well as other written communications made from time to time by OBA Financial Services, Inc. and its subsidiary (the “Company”) and oral communications made from time to time by authorized officers of the Company, may contain statements relating to the future results of the Company (including certain projections and business trends) that are considered “forward-looking statements” as defined in the Private Securities Litigation Reform Act of 1995 (the “PSLRA”). Such forward-looking statements can be identified by the use of words such as “estimate,” “project,” “believe,” “intend,” “anticipate,” “plan,” “seek,” “expect,” “will,” “may,” “potential,” and words of similar meaning. These forward-looking statements include, but are not limited to:

• possible or assumed estimates with respect to the financial condition, expected or anticipated revenue, and results of operations and business of the Company, including earnings growth determined using accounting principles generally accepted in the United States of America (“U.S. GAAP”);

• estimates of revenue growth in retail banking, lending, and other areas and origination volume in the Company’s consumer, commercial, and other lending businesses;

• statements regarding the asset quality and levels of non-performing assets and impairment charges with respect to our investment portfolio; and

• statements regarding current and future capital management programs, tangible capital generation, and market share;

• estimates of non-interest income levels, including fees from services and product sales, and expense levels;

• statements of our goals, intentions, and expectations;

• statements regarding our business plans, prospects, growth, and operating strategies; and

• estimates of our risks and future costs and benefits.

The Company cautions that a number of important factors could cause actual results to differ materially from the anticipated results or other expectations expressed in the forward-looking statements. Such factors include, but are not limited to:

• the factors identified in the Company’s Prospectus dated November 12, 2009 as filed with the Securities and Exchange Commission pursuant to Rule 424(b)(3) of the Securities Act of 1933, as amended, on November 19, 2009 under the heading “Risk Factors;”

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• prevailing general economic conditions, either nationally or locally in some or all areas in which the Company conducts business, that are different than expected;

• changes in the securities market, the banking industry, or competition among depository and other financial institutions;

• inflation and changes in interest rates, deposit flows, loan demand, real estate values, and consumer spending, saving, and borrowing habits which can materially affect, among other things, consumer banking revenues, origination levels in the Company’s lending businesses and the level of defaults, losses, and prepayments on loans made by the Company, whether held in portfolio or sold in the secondary markets, and the Company’s margin and fair value of financial instruments;

• changes in any applicable law, rule, government regulation, policy, or practice with respect to tax or legal issues affecting financial institutions, including changes in regulatory fees and capital requirements;

• risks and uncertainties related to our ability to successfully integrate any assets, liabilities, customers, systems, and management personnel the Company may acquire, if any, into its operations and its ability to realize related revenue synergies and cost savings within the expected time frame;

• the Company’s timely development of new and competitive products or services in a changing environment, and the acceptance of such products or services by our customers so we are able to enter new markets successfully and capitalize on growth opportunities;

• operational issues and/or capital spending necessitated by the potential need to adapt to industry changes in information technology systems, on which it is highly dependent;

• changes in accounting principles, policies, guidelines, and practices, as may be adopted by the bank regulatory agencies, the Financial Accounting Standards Board, the Securities and Exchange Commission, and the Public Company Accounting Oversight Board;

• litigation liability, including costs, expenses, settlements, and judgments, or the outcome of other matters before regulatory agencies, whether pending or commencing in the future;

• changes in the quality or composition of the investment and loan portfolios;

• changes in our organization, compensation and benefit plans;

• changes in other economic, competitive, governmental, regulatory, and technological factors affecting the Company’s operations, pricing, products, and services; and

• the timing and occurrence or non-occurrence of events that may be subject to circumstances beyond the Company’s control.

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These forward-looking statements are based on our current beliefs and expectations and are inherently subject to significant business, economic, and competitive uncertainties and contingencies, many of which are beyond our control. In addition, these forward-looking statements are subject to assumptions with respect to future business strategies and decisions that are subject to change. Readers are cautioned not to place undue reliance on these forward-looking statements which are made as of the date of this report, and except as may be required by applicable law or regulation, the Company assumes no obligation to update the forward-looking statements or to update the reasons why actual results could differ from those projected in the forward-looking statements. For these statements, the Company claims the protection of the safe harbor for forward-looking statements contained in the PSLRA.

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PART I – FINANCIAL INFORMATION

Item 1. Financial Statements

OBA Bancorp, MHC

Consolidated Statements of Condition (Unaudited)

December 31, 2009 and June 30, 2009

	December 31, 2009			Restated June 30, 2009
	(In Thousands)
Assets:
Cash and due from banks	$	113,167		$	5,937
Federal funds sold		17,777			27,720
Cash and cash equivalents		130,944			33,657
Securities available for sale		22,540			25,909
Securities held to maturity (Fair value of $4,908)		4,861			—
Federal Home Loan Bank stock, at cost		3,883			3,883
Loans		275,222			284,626
Less allowance for loan losses		1,124			1,167
Net loans		274,098			283,459
Premises and equipment, net		6,237			6,386
Bank owned life insurance		8,124			5,455
Other assets		5,255			3,612
Total assets	$	455,942		$	362,361
Liabilities:
Deposits:
Noninterest-bearing	$	22,488		$	16,649
Interest-bearing		328,633			227,887
Total deposits		351,121			244,536
Federal Home Loan Bank advances		50,691			56,400
Securities sold under agreements to repurchase		13,474			18,779
Advance payments from borrowers for taxes and insurance		169			2,424
Other liabilities		1,383			1,720
Total liabilities		416,838			323,859
Equity:
Retained earnings		39,136			38,994
Accumulated other comprehensive loss		(32	)		(492	)
Total equity		39,104			38,502
Total liabilities and equity	$	455,942		$	362,361

See notes to consolidated financial statements.

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OBA Bancorp, MHC

Consolidated Statements of Operations (Unaudited)

Three and Six Months Ended December 31, 2009 and 2008

	Three Months Ended December 31,					Six Months Ended December 31,
	2009			2008		2009			2008
	(In Thousands)
Interest and Dividend Income:
Loans receivable, including fees	$	3,703		$	3,981	$	7,447		$	8,063
Investment securities:
Interest—taxable		364			418		711			821
Dividends		1			4		15			33
Federal funds sold		9			26		19			84
Total interest and dividend income		4,077			4,429		8,192			9,001
Interest Expense:
Deposits		974			1,504		2,064			3,070
Federal Home Loan Bank advances		609			817		1,205			1,620
Securities sold under agreements to repurchase		58			89		124			195
Total interest expense		1,641			2,410		3,393			4,885
Net interest income		2,436			2,019		4,799			4,116
Less provision for (recovery of) loan losses		(55	)		75		93			118
Net interest income after provision for (recovery of) loan losses		2,491			1,944		4,706			3,998
Non-Interest Income:
Customer service fees		122			109		242			215
Loan servicing fees		12			15		24			31
Bank owned life insurance income		87			61		169			121
Impairment losses on investment securities:
Total other-than-temporary impairment losses		(82	)		—		(84	)		—
Losses previously recognized in other comprehensive income before taxes		(244	)		—		(466	)		—
Net impairment losses recognized in income		(326	)		—		(550	)		—
Net gain on the sale of investments		—			—		3			—
Net gain on sale of loans		19			—		24			—
Other non-interest income		22			8		41			66
Total non-interest income (loss)		(64	)		193		(47	)		433
Non-Interest Expense:
Salaries and employee benefits		1,217			1,058		2,398			2,095
Occupancy and equipment		390			385		764			760
Data processing		162			174		315			330
Directors’ fees		78			77		153			152
FDIC assessments		97			9		197			23
Other non-interest expense		363			325		702			653
Total non-interest expense		2,307			2,028		4,529			4,013
Income before income taxes		120			109		130			418
Income tax expense (benefit)		23			27		(12	)		115
Net income	$	97		$	82	$	142		$	303

See notes to consolidated financial statements.

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OBA Bancorp, MHC

Consolidated Statements of Equity and Comprehensive Income (Loss) (Unaudited)

Six Months Ended December 31, 2009 and 2008

	Retained Earnings		Accumulated Other Comprehensive Loss			Total
	(In Thousands)
Balances at July 1, 2008 (restated)	$	39,654	$	(767	)	$	38,887
Comprehensive loss:
Net income		303					303
Other comprehensive loss net of tax:
Net unrealized losses on available for sale securities, net of tax benefit of ($551)				(862	)		(862	)
Total comprehensive loss							(559	)
Balances, December 31, 2008	$	39,957	$	(1,629	)	$	38,328
Balances at July 1, 2009 (restated)	$	38,994	$	(492	)	$	38,502
Comprehensive income:
Net income		142					142
Other comprehensive income (loss), net of tax:
Unrealized losses on debt securities for which a portion of the impairment has been recognized in income, net of tax benefit of ($33)				(51	)		(51	)
Net unrealized gains on other available for sale securities, net of tax of $112				176			176
Reclassification adjustment for other-than-temporary impairment losses included in income, net of tax of $215				335			335
Total comprehensive income							602
Balances, December 31, 2009	$	39,136	$	(32	)	$	39,104

See notes to consolidated financial statements.

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OBA Bancorp, MHC

Consolidated Statements of Cash Flows (Unaudited)

Six Months Ended December 31, 2009 and 2008

	Six Months Ended December 31,
	2009			2008
	(In Thousands)
Operating Activities:
Net income	$	142		$	303
Adjustments to reconcile net income to net cash (used in) provided by operating activities:
Provision for loan losses		93			118
Depreciation and amortization of premises and equipment		265			237
Net accretion of securities premiums and discounts		(7	)		(32	)
Net gains on sale of investment securities		(3	)		—
Impairment losses on investment securities		550			—
Proceeds from sales of loans held for sale		1,494			—
Originated loans held for sale		(1,470	)		—
Net gains on sales of loans		(24	)		—
Amortization of net deferred loan fees		(112	)		(137	)
Earnings on investment in bank-owned life insurance		(169	)		(121	)
Amortization of mortgage servicing rights		1			1
Amortization of brokered deposit premiums		15			15
Prepaid FDIC assessment		(1,415	)		—
Changes in other assets and liabilities, net		(828	)		(110	)
Total adjustments		(1,610	)		(29	)
Net cash (used in) provided by operating activities		(1,468	)		274
Investing Activities:
Principal collections and maturities of securities available for sale		3,583			4,344
Principal collections and maturities of securities held to maturity		5,119			—
Proceeds from sales of securities available for sale		2,478			—
Purchases of securities available for sale		(2,475	)		(9,258	)
Purchases of securities held to maturity		(9,983	)		—
Increases in Federal Home Loan Bank Stock		—			(99	)
Loan originations less principal collections		9,333			1,680
Purchases of premises and equipment		(116	)		(347	)
Purchases of bank-owned life insurance		(2,500	)		—
Net cash provided by (used in) investing activities		5,439			(3,680	)
Financing Activities:
Net increase in deposits		1,497			4,503
Funds collected for stock offering		105,088			—
Net decrease in securities sold under agreements to repurchase		(5,305	)		(10,595	)
Repayments of FHLB advances		(10,009	)		—
FHLB Advances		4,300			—
Net decrease in advance payments from borrowers for taxes and insurance		(2,255	)		(2,580	)
Net cash provided by (used in) financing activities		93,316			(8,672	)
Increase (decrease) in cash and cash equivalents		97,287			(12,078	)
Cash and cash equivalents at beginning of period		33,657			16,144
Cash and cash equivalents at end of period	$	130,944		$	4,066
Supplemental Disclosures:
Interest paid	$	3,447		$	4,874
Income taxes paid		15			173
Loans transferred to foreclosed assets		47			—

See notes to consolidated financial statements.

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OBA Bancorp, MHC

Notes to the Consolidated Financial Statements (Unaudited)

NOTE 1 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Organization and Nature of Operations

In December 2007, OBA Bank (the “Bank”) reorganized into a three-tier mutual holding company structure. As part of the reorganization, the Bank converted from a mutual savings bank into a federally chartered stock savings bank and formed OBA Bancorp, Inc., a federally chartered mid-tier stock holding company, and OBA Bancorp, MHC, a federally chartered mutual holding company. The Bank became a wholly-owned subsidiary of OBA Bancorp, Inc. and OBA Bancorp, Inc. became a wholly-owned subsidiary of OBA Bancorp, MHC.

This reorganization was completed on December 5, 2007, in accordance with a Plan of Reorganization from a Mutual Savings Bank to a Mutual Holding Company approved and adopted by the Bank’s Board of Directors on December 21, 2006, and the Bank’s eligible voting members on October 18, 2007. OBA Bancorp, MHC, OBA Bancorp, Inc. and OBA Bank are subject to regulation and supervision by the Office of Thrift Supervision.

The Bank is a community-oriented savings institution, providing a variety of financial services to individuals and small businesses through its offices in Maryland and Washington, D.C. Its primary deposits are demand and time certificate accounts and its primary lending products are residential and commercial mortgage loans.

Basis of Presentation

The consolidated financial statements include the accounts of OBA Bancorp, MHC, OBA Bancorp, Inc., and OBA Bank. All significant intercompany accounts and transactions have been eliminated in consolidation.

The accompanying unaudited consolidated financial statements have been prepared in accordance with U.S. GAAP for interim financial information and are presented in accordance with instructions for Form 10-Q and Rule 10-01 of the Securities and Exchange Commission Regulation S-X. Accordingly, they do not include all of the information and footnotes required by generally accepted accounting principles for complete financial statements. In the opinion of management, all adjustments considered necessary for a fair presentation are of a normal and recurring nature and have been included.

Operating results for the three and six months ended December 31, 2009, are not necessarily indicative of the results that may be expected for the fiscal year ended June 30, 2010. The consolidated financial statements presented in this report should be read in conjunction with the audited consolidated financial statements and the accompanying notes for the fiscal years ended June 30, 2009 and 2008, included in OBA Financial Services, Inc.’s Prospectus dated November 12, 2009 as filed with the Securities and Exchange Commission pursuant to Rule 424(b)(3) of the Securities Act of 1933, as amended.

Subsequent Events

Subsequent events have been evaluated through February 16, 2010, the issue date of the accompanying Consolidated Financial Statements (Unaudited).

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OBA Bancorp, MHC

Notes to the Consolidated Financial Statements (Unaudited)—(Continued)

On January 21, 2010, the Registrant completed its plan of conversion and reorganization from a mutual holding company to a stock holding company. In accordance with the plan, OBA Bancorp, MHC and OBA Bancorp, Inc. ceased to exist as separate legal entities and a stock holding company, OBA Financial Services, Inc. (of which OBA Bank became a wholly owned subsidiary) issued and sold shares of capital stock to eligible depositors of OBA Bank. A total of 4,628,750 shares were issued in the conversion at $10 per share, raising $46.3 million of gross proceeds. Approximately $1.4 million in conversion expenses have been offset against the gross proceeds. Through December 31, 2009, the Company had incurred approximately $603,000 in conversion and offering costs, which are included in other assets in the consolidated Statement of Condition. The Registrant’s common stock began trading on the NASDAQ Capital Market under the symbol “OBAF” on January 22, 2010. See Note 6.

Correction of Immaterial Error

During the second quarter of fiscal 2009, the Company identified errors in the calculation of both the total prepaid closing costs and the subsequent amortization of those costs related to the Home Equity loan portfolios in our financial statements for the fiscal years ended June 30, 2005 through June 30, 2009, and for the three months ended September 30, 2009 and September 30, 2008 that were not material to any previously issued financial statements.

Management considered the guidance in Accounting Standard Codification (“ASC”) Topic 250, Accounting Changes and Error Corrections (“ASC 250”), ASC Topic 270 Interim Financial Reporting, ASC Topic 250-S99-1, Assessing Materiality, and ASC Topic 250-S99-2, Considering the Effects of Prior Year Misstatements when Quantifying Misstatements in Current Year Financial Statements. Based on the evaluation of quantitative and qualitative factors, management believes the identified misstatements are immaterial to the Company’s consolidated financial statements as management considers it unlikely that the judgment of a reasonable person relying on the report would have been changed or influenced by this prior period accounting error. However, because management is currently unable to determine the impact on current full fiscal year, management has adjusted the impacted financial statements for the errors.

Management corrected the accounting methodology for this item during the three months ended December 31, 2009 and all periods presented in the accompanying consolidated financial statements have been corrected as necessary to reflect the proper accounting for the prepaid closing costs. See Note 7.

Use of Estimates

In preparing the consolidated financial statements in conformity with U.S. GAAP, management is required to make estimates and assumptions that affect the reported amounts of assets and liabilities as of the date of the balance sheet and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates. Material estimates that are particularly sensitive to significant change in the near term relate to the determination of the allowance for loan losses, valuation of trust preferred investment securities, the evaluation of other than temporary impairment of trust preferred securities and valuation allowances for deferred tax assets.

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OBA Bancorp, MHC

Notes to the Consolidated Financial Statements (Unaudited)—(Continued)

Recent Accounting Pronouncements

Accounting Standards Update 2009-16

In October 2009, the FASB issued Accounting Standards Update 2009-16, Transfers and Servicing (Topic 860) – Accounting for Transfers of Financial Assets. This Update amends the Codification for the issuance of FASB Statement No. 166, Accounting for Transfers of Financial Assets – and amendment of FASB Statement No. 140.

The amendments in ASU 2009-16 eliminate the exceptions for qualifying special-purpose entities from the consolidation guidance and the exception that permitted sale accounting for certain mortgage securitizations when a transferor has not surrendered control over the transferred financial assets. In addition, the amendments require enhanced disclosures about the risks that a transferor continues to be exposed to because of its continuing involvement in transferred financial assets. Also, there are clarifications of the requirements for isolation and limitations on portions of financial assets that are eligible for sale accounting.

The effective date is at the start of a reporting entity’s first fiscal year beginning after November 15, 2009. Early application is not permitted. This update is not expected to have an impact on the Company’s Financial Statements.

Accounting Standards Update 2009-17

In October 2009, the FASB issued Accounting Standards Update 2009-17, Consolidations (Topic 810) – Improvements to Financial reporting by Enterprises Involved with Variable Interest Entities. This Update amends the Codification for the issuance of FASB Statement No. 167, Amendments to FASB Interpretation No. 46(R).

The amendments in ASU 2009-17 replace the quantitative-based risks and rewards calculation for determining which reporting entity, if any, has a controlling financial interest in a variable interest entity with an approach focused on identifying which reporting entity has the power to direct the activities of a variable interest entity that most significantly impact the entity’s economic performance and (1) the obligation to absorb losses of the entity or (2) the right to receive benefits from the entity. Also, there are required additional disclosures about a reporting entity’s involvement in variable interest entities.

The effective date is at the start of a reporting entity’s first fiscal year beginning after November 15, 2009. Early application is not permitted. This update is not expected to have an impact on the Company’s Financial Statements.

Accounting Standards Update 2010-01

In January 2010, the FASB issued Accounting Standards Update 2010-01, Equity (Topic 505) – Accounting for Distributions to Shareholders with Components of Stock and Cash. This Update Codifies the consensus reached in EITF Issue No. 09-E, Accounting for Stock Dividends, including Distributions to Shareholders with Components of Stock and Cash.

The amendments in ASU 2010-01 clarify that the stock portion of a distribution to shareholders that allows them to elect to receive cash or stock with a potential limitation on the total amount of cash that all shareholders can elect to receive in the aggregate is considered a share issuance that is reflected in earnings per share prospectively and is not a stock dividend.

This Update is effective for interim and annual periods ending on or after December 15, 2009, and should be applied on a retrospective basis. This update is not expected to have a material impact on the Company’s Financial Statements.

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OBA Bancorp, MHC

Notes to the Consolidated Financial Statements (Unaudited)—(Continued)

Accounting Standards Update 2010-06

In January 2010, the FASB issued Accounting Standards Update 2010-06, Fair Value Measurement and Disclosures (Topic 820): Improving Disclosures about Fair Value Measurements.

This Update requires new disclosures and clarifies some existing disclosure requirements about fair value measurements as set forth in Codification Subtopic 820-10.

This Update is effective for interim and annual reporting periods beginning after December 15, 2009, except for the disclosures about purchases, sales, issuances, and settlements in the roll forward of activity in Level 3 fair value measurements. Those disclosures are effective for fiscal years beginning after December 15, 2010, and for interim periods within those fiscal years. This update is not expected to have a material impact on the Company’s Financial Statements.

NOTE 2 – COMPREHENSIVE INCOME

Accounting principles generally accepted in the United States of America require that recognized revenue, expenses, gains, and losses be included in net income. Although certain changes in assets and liabilities, such as unrealized gains and losses on available for sale securities, are reported as a separate component of the equity section of the balance sheet, such items, along with net income, are components of comprehensive income.

The components of other comprehensive income (loss) and related tax effects are as follows:

	Three Months Ended December 31						Six Months Ended December 31
	2009			2008			2009			2008
	(In Thousands)
Unrealized losses on debt securities for which a portion of the impairment has been recognized in income	$	(82	)	$	—		$	(84	)	$	—
Unrealized gains (losses) on other available for sale securities		(110	)		(455	)		288			(1,413	)
Reclassification adjustment for OTTI losses included in income		326			—			550			—
Net unrealized gains (losses)		134			(455	)		754			(1,413	)
Tax effect		53			(178	)		294			(551	)
Net of tax amount	$	81		$	(277	)	$	460		$	(862	)

Accumulated other comprehensive loss consists of the following:

	December 31, 2009			June 30, 2009
	(In Thousands)
Unrealized losses on available for sale securities	$	(52	)	$	(806	)
Tax effect		20			314
Total	$	(32	)	$	(492	)

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OBA Bancorp, MHC

Notes to the Consolidated Financial Statements (Unaudited)—(Continued)

NOTE 3 – SECURITIES

The amortized cost and fair value of securities with gross unrealized gains and losses are as follows:

			Gross Unrealized Gains		Gross Unrealized Losses						Fair Value
	Amortized Cost				Noncredit OTTI			Other
					(In Thousands)
December 31, 2009
Securities available for sale:
Debt Securities:
Residential mortgage-backed securities	$	20,968	$	923	$	—		$	—		$	21,891
Trust preferred securities		1,574		—		(904	)		(71	)		599
Total debt securities available for sale		22,542		923		(904	)		(71	)		22,490
Equity Securities		50		—		—			—			50
Total securities available for sale		22,592		923		(904	)		(71	)		22,540
Securities held to maturity:
Debt Securities:
Residential mortgage-backed securities		4,861		47		—			—			4,908
Total debt securities held to maturity		4,861		47		—			—			4,908
Total investment securities	$	27,453	$	970	$	(904	)	$	(71	)	$	27,448
June 30, 2009
Securities available for sale:
Debt Securities:
Residential mortgage-backed securities	$	24,525	$	657	$	—		$	—		$	25,182
Trust preferred securities		2,140		—		(1,370	)		(93	)		677
Total debt securities available for sale		26,665		657		(1,370	)		(93	)		25,859
Equity Securities		50		—		—			—			50
Total securities available for sale	$	26,715	$	657	$	(1,370	)	$	(93	)	$	25,909

14

OBA Bancorp, MHC

Notes to the Consolidated Financial Statements (Unaudited)—(Continued)

The amortized cost and fair value of debt securities by contractual maturity at December 31, 2009 are as follows:

	Available for sale				Held to Maturity
	Amortized Cost		Fair Value		Amortized Cost		Fair Value
	(In Thousands)
Due after ten years	$	1,574	$	599	$	—	$	—
Residential mortgage-backed securities		20,968		21,891		4,861		4,908
Total	$	22,542	$	22,490	$	4,861	$	4,908

At December 31, 2009 and June 30, 2009, the carrying amount of securities pledged to secure repurchase agreements was $21,247,000 and $22,725,000, respectively.

There were no sales of securities available for sale for the three months ended December 31, 2009 and 2008. Proceeds from the sale of securities available for sale were $2,478,000 for the six months ended December 31, 2009. For the six months ended December 31, 2009, gross realized gains were $3,000 and gross realized losses were zero. There were no sales of securities available sale for the six months ended December 31, 2008.

Information pertaining to securities with gross unrealized losses at December 31, 2009 and June 30, 2009, aggregated by investment category and length of time that individual securities have been in a continuous loss position, are as follows:

	Less than 12 Months				12 Months or More				Total
	Gross Unrealized Losses		Fair Value		Gross Unrealized Losses		Fair Value		Gross Unrealized Losses		Fair Value
	(In Thousands)
December 31, 2009
Trust preferred securities	$	—	$	—	$	975	$	599	$	975	$	599
June 30, 2009
Trust preferred securities	$	—	$	—	$	1,463	$	677	$	1,463	$	677

The Company’s trust preferred securities consist of three variable rate pools of trust preferred securities issued by banks and insurance companies or their holding companies. The securities were purchased at par. The decline in the fair value of these securities has been caused by (1) collateral deterioration due to failures and credit concerns across the financial services sector, (2) the widening of credit spreads for asset-backed securities, and (3) general illiquidity and, as a result, inactivity in the market for these securities.

15

OBA Bancorp, MHC

Notes to the Consolidated Financial Statements (Unaudited)—(Continued)

The following table provides additional information related to the Company’s pooled trust preferred securities at December 31, 2009:

Security	Class	Amortized Cost		Fair Value		Unrealized Loss			Moody’s/ Fitch Ratings	Current Number of Issuers		Non-performing Collateral as % of Current Collateral		Excess Subordination as a % of Current Performing Collateral
I-PreTSL I	Senior	$	144	$	73	$	(71	)	AAA/AAA	17	(1)	9.00	%	65.33	%
PreTSL VII	Mezzanine		1,066		449		(617	)	Ca/CC	21	(2)	62.56	%	0.00	%
PreTSL VIII	Mezzanine		364		77		(287	)	C/CC	38	(2)	43.67	%	0.00	%
		$	1,574	$	599	$	(975	)

(1) All I-PreTSL I issuers are insurance companies

(2) All PreTSL VII and PreTSL VIII issuers are banks or bank holding companies

The Company does not intend to sell any of the trust preferred securities and believes it is not more likely than not that the Company will be required to sell any of the securities.

The unrealized loss in the table above related to I-PreTSL I was not recognized in income as the Company believes the present value of expected cash flows is sufficient to recover the entire amortized cost basis. The unrealized losses in the table above on PreTSL VII and PreTSL VIII have not been recognized in income as they represent the noncredit-related portion of OTTI on those securities.

In 2009, the Company determined that unrealized losses on PreTSL VII and PreTSL VIII trust preferred securities were other-than-temporary resulting in credit related charges to income of $1,020,000 for the year ended June 30, 2009. In addition, for the six months ended December 31, 2009, the Company determined that there were additional credit related losses on PreTSL VII and PreTSL VIII resulting in charges to income of $550,000.

Pooled trust preferred securities are measured for other-than-temporary impairment by determining whether it is probable that an adverse change in estimated cash flows has occurred. Determining whether there has been an adverse change in estimated cash flows from the cash flows previously projected involves comparing the present value of remaining cash flows previously projected against the present value of the cash flows currently estimated. The Company considers the discounted cash flow analysis to be the primary evidence when determining whether credit related other-than-temporary impairment exists.

The aggregate collateral cash flows are dependent on the estimated speeds at which the trust preferred securities are expected to prepay, the estimated rates at which the trust preferred securities are expected to default, and the severity of the losses on those that default. The following provides additional information for each of these variables at December 31, 2009:

Prepayment Assumptions

Trust preferred securities generally allow for prepayment without a prepayment penalty after five years. Due to the current condition of the banking industry and the inactivity in the market for trust preferred issuances, the Company has forecasted relatively modest rates of prepayments in the future.

16

OBA Bancorp, MHC

Notes to the Consolidated Financial Statements (Unaudited)—(Continued)

Default Rate Assumptions

Default rates were developed based on status of each trust preferred issue and the financial condition of the issuers. The financial condition of each issuer was evaluated using available evidence of key financial ratios relating to each issuer’s capitalization, asset quality, profitability, and liquidity. Also considered in the evaluation, if available, were the most recent ratings from outside rating agencies, recent stock price information, and the status and amount of TARP funding, if any. The Company estimated near-term default rates based on this analysis with a return to historical default levels in the future.

Loss Severity Assumptions

The fact that an issuer defaults does not necessarily result in the occurrence of a loss. Loss severity assumptions are estimates of the expected loss given a default. The Company has developed loss severity assumptions based on published studies of recovery rates on defaulted trust preferred securities.

The following table summarizes the weighted-average assumptions used to estimate the aggregate collateral cash flows at December 31, 2009:

	Performing Collateral				Non-Performing Collateral
(in thousands)	PreTSL VII		PreTSL VIII		PreTSL VII		PreTSL VIII
Prepayment rates	2.00	%	2.00	%	0.00	%	0.00	%
Default rates	4.41	%(1)	7.74	%(1)	100.00	%	100.00	%
Loss severity assumptions	95.00	%	95.00	%	67.10	%	80.57	%

⁽¹⁾ The initial default rate assumption is applied through December 2010. The subsequent default rates follow:

• Through 2011, approximately 3 times the historical rate, or 1.00%

• Through 2012, approximately 2 times the historical rate, or .75%, and

• Through 2013 and beyond, approximately 1 times the historical rate, or .37%.

The Company constructs cash flows in an INTEX cash flow model based upon the assumptions described above, the attributes of the pooled trust preferred securities and the cash flow “waterfall” rules as set forth in each security’s prospectus. INTEX is a proprietary cash flow model for analyzing all types of collateralized debt obligations and includes each deal’s structural features and asset detail.

The following table presents a summary of cumulative credit losses related to other-than-temporary impairment charges recognized in income for trust preferred securities held at December 31, 2009:

(In Thousands)

Beginning balance of cumulative credit losses at June 30, 2009	$	1,020
Additions to credit losses recorded on securities		550
Ending balance of cumulative credit losses at December 31, 2009	$	1,570

There is a reasonable possibility that the present value of expected cash flows and fair values of the trust preferred securities could further decline in the near term if the overall economy and the financial

17

OBA Bancorp, MHC

Notes to the Consolidated Financial Statements (Unaudited)—(Continued)

condition of some of the issuers continue to deteriorate and the liquidity of these securities remains low. As a result, there is a risk that additional other-than-temporary impairment may occur in the near term and such amounts could be material to the Company’s consolidated financial statements.

NOTE 4 – FAIR VALUE MEASUREMENT AND FAIR VALUE OF FINANCIAL INSTRUMENTS

Management uses its best judgment in estimating the fair value of the Company’s financial instruments; however, there are inherent weaknesses in any estimation technique. Therefore, for substantially all financial instruments, the fair value estimates herein are not necessarily indicative of the amounts the Company could have realized in a sales transaction on the dates indicated. The estimated fair value amounts have been measured as of their respective reporting dates and have not been re-evaluated or updated for purposes of these financial statements subsequent to those respective dates. As such, the estimated fair values of these financial instruments subsequent to the respective reporting dates may be different than the amounts reported at each reporting date.

FASB Accounting Standards Codification (ASC) 820, Fair Value Measurements and Disclosures, defines fair value, establishes a framework for measuring fair value under U.S. GAAP, and expands disclosures about fair value measurements. FASB ASC 820 establishes a fair value hierarchy that prioritizes the inputs to valuation methods used to measure fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements). The three levels of the fair value hierarchy are as follows:

Level 1:	Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities.
Level 2:	Quoted prices in markets that are not active, or inputs that are observable either directly or indirectly, for substantially the full term of the asset or liability.
Level 3:	Prices or valuation techniques that require inputs that are both significant to the fair value measurement and unobservable (i.e., supported with little or no market activity).

An asset’s or liability’s level within the fair value hierarchy is based on the lowest level of input that is significant to the fair value measurement.

18

OBA Bancorp, MHC

Notes to the Consolidated Financial Statements (Unaudited)—(Continued)

For assets measured at fair value on a recurring basis, the fair value measurements by level within the fair value hierarchy used at December 31 and June 30, 2009 are as follows:

Description	December 31, 2009		(Level 1) Quoted Prices in Active Markets for Identical Assets		(Level 2) Significant Other Observable Inputs		(Level 3) Significant Unobservable Inputs
Securities available for sale	$	22,540	$	—	$	21,941	$	599
Description	June 30, 2009		(Level 1) Quoted Prices in Active Markets for Identical Assets		(Level 2) Significant Other Observable Inputs		(Level 3) Significant Unobservable Inputs
Securities available for sale	$	25,909	$	—	$	25,232	$	677

The following table presents a reconciliation of the securities available for sale measured at fair value on a recurring basis using significant unobservable inputs (Level 3) for the three and six months ended December 31, 2009 (in thousands):

	Three Months Ended December 31, 2009			Six Months Ended December 31, 2009
Beginning balance	$	673		$	677
Principal repayments		(4	)		(17	)
Unrealized losses included in non-interest income (loss)		(326	)		(550	)
Unrealized gains included in other comprehensive income		256			489
Ending balance	$	599		$	599

19

OBA Bancorp, MHC

Notes to the Consolidated Financial Statements (Unaudited)—(Continued)

For assets measured at fair value on a nonrecurring basis at December 31, 2009 and June 30, 2009, the fair value measurements by level within the fair value hierarchy are as follows (in thousands):

Description	December 31, 2009		(Level 1) Quoted Prices in Active Markets for Identical Assets		(Level 2) Significant Other Observable Inputs	(Level 3) Significant Unobservable Inputs
Impaired loans	$	825	$	—		$	825
Foreclosed assets	$	240	$	—		$	240
Mortgage servicing rights	$	48	$	—		$	48
Description	June 30, 2009		(Level 1) Quoted Prices in Active Markets for Identical Assets		(Level 2) Significant Other Observable Inputs	(Level 3) Significant Unobservable Inputs
Impaired loans	$	1,680	$	—		$	1,680
Foreclosed assets	$	193	$	—		$	193
Mortgage servicing rights	$	42	$	—		$	42

The methods and assumptions used to estimate the fair values included in the above tables are included in the disclosures that follow.

The following information should not be interpreted as an estimate of the fair value of the entire Company since a fair value calculation is only provided for a limited portion of the Company’s assets and liabilities. Due to a wide range of valuation techniques and the degree of subjectivity used in making the estimates, comparisons between the Company’s disclosures and those of other companies may not be meaningful. The following methods and assumptions were used to estimate fair values at December 31, 2009 and June 30, 2009:

Cash and Cash Equivalents (Carried at Cost)

The carrying amounts of cash and short-term instruments approximate fair value.

Securities Available for Sale (Carried at Fair Value)

The fair values of securities available for sale, excluding trust preferred securities, are determined by obtaining quoted market prices on nationally recognized securities exchanges (Level 1), or matrix pricing (Level 2), which is a mathematical technique used widely in the industry to value debt securities without relying exclusively on quoted market prices for the specific securities but rather by relying on the securities’ relationship to other benchmark quoted prices.

20

OBA Bancorp, MHC

Notes to the Consolidated Financial Statements (Unaudited)—(Continued)

The market for pooled trust preferred securities is inactive. A significant widening of the bid/ask spreads in the markets in which these securities trade was followed by a significant decrease in the volume of trades relative to historical levels. The new issue market is also inactive and no new pooled trust preferred securities have been issued since 2007. Since there were limited observable market-based Level 1 and Level 2 inputs for trust preferred securities, the fair value of these securities was estimated using primarily unobservable Level 3 inputs. Fair value estimates for trust preferred securities were based on discounting expected cash flows using a risk-adjusted discount rate. The methodology and significant inputs used to determine the aggregate expected cash flows are described in Note 3—Securities. The Company develops the risk-adjusted discount rate by considering the time value of money (risk-free rate) adjusted for an estimated risk premium for bearing the uncertainty in future cash flows and, given current adverse market conditions, a liquidity adjustment based on an estimate of the premium that a market participant would require assuming an orderly transaction.

Securities Held to Maturity (Carried at Amortized Cost)

A review of the investment portfolio may indicate that certain securities held to maturity are impaired. If necessary, the Company performs fair value modeling and evaluations on these securities. All processes and controls associated with determination of the fair value of those securities are consistent with these performed for securities available for sale.

Federal Home Loan Bank Stock (Carried at Cost)

The carrying amount of Federal Home Loan Bank stock approximates fair value and considers the limited marketability of such securities.

Loans Receivable (Carried at Cost)

The fair values of loans are estimated using discounted cash flow analyses which use market rates at the balance sheet date that reflect the credit and interest rate-risk inherent in the loans. Projected future cash flows are calculated based upon contractual maturity or call dates, projected repayments and prepayments of principal. Generally, for variable rate loans that reprice frequently and with no significant change in credit risk, fair values are based on carrying values.

Impaired Loans (Generally Carried at Fair Value)

Impaired loans are those for which the Company has measured impairment generally based on the fair value of the loan’s collateral. Fair value of real estate collateral is generally determined based upon independent third-party appraisals of the properties, which consider sales prices of similar properties in the proximate vicinity or by discounting expected cash flows from the properties by an appropriate risk adjusted discount rate. Fair value of collateral other than real estate is based on an estimate of the liquidation proceeds. Impaired loans are included as Level 3 fair values, based upon the lowest level of input that is significant to the fair value measurements. The fair value consists of the loan balances net of a valuation allowance.

Foreclosed Assets (Carried at Lower of Cost or Fair Value Less Estimated Selling Costs)

Fair values of foreclosed assets are based on independent third party appraisals of the properties or discounted cash flows based upon the expected sales proceeds upon disposition of the assets. These values were generally determined based on the sales prices of similar properties in the proximate vicinity. These assets are included as Level 3 fair values, based upon the lowest level of input that is significant to the fair value measurements.

21

OBA Bancorp, MHC

Notes to the Consolidated Financial Statements (Unaudited)—(Continued)

Mortgage Servicing Rights (Carried at Lower of Cost or Fair Value)

At origination, the Company estimates the fair value of mortgage servicing rights at 1% of the principal balances of loans sold. The Company amortizes that amount over the estimated period of servicing revenues or charges the entire amount to income upon prepayment of the related loan. Due to the small size of the balance of mortgage servicing rights at December 31 and June 30, 2009, the Company did not perform any further analysis or estimate their fair values. Therefore, the Company has disclosed that the carrying amounts of mortgage servicing rights approximate fair value.

Deposit Liabilities (Carried at Cost)

The fair values disclosed for demand deposits (e.g., interest and non-interest checking, passbook savings, and certain types of money market accounts) are, by definition, equal to the amount payable on demand at the reporting date (i.e., their carrying amounts). Fair values for certificates of deposit are estimated using a discounted cash flow calculation that applies interest rates currently being offered in the market on certificates to a schedule of aggregated expected monthly maturities.

Federal Home Loan Bank Advances (Carried at Cost)

Fair values of FHLB advances are estimated using discounted cash flow analysis, based on quoted prices for new FHLB advances with similar credit risk characteristics, terms, and remaining maturity. These prices obtained from this active market represent a market value that is deemed to represent the transfer price if the liability were assumed by a third party.

Securities Sold Under Agreements To Repurchase (Carried at Cost)

The carrying amounts of securities sold under agreements to repurchase approximate fair value for short-term obligations. The fair values for longer term repurchase agreements are based on current market interest rates for similar transactions.

Accrued Interest Receivable and Payable (Carried at Cost)

The carrying amounts of accrued interest approximate fair value.

Off-Balance-Sheet Credit-Related Instruments (Disclosures at Cost)

Fair values for off-balance-sheet financial instruments (lending commitments and letters of credit) are based on fees currently charged in the market to enter into similar agreements, taking into account the remaining terms of the agreements and the counterparties’ credit standing. The fair value of these instruments is not material.

22

OBA Bancorp, MHC

Notes to the Consolidated Financial Statements (Unaudited)—(Continued)

The estimated fair values of the Company’s financial instruments were as follows:

	December 31, 2009				June 30, 2009
	Carrying Amount		Fair Value		Carrying Amount		Fair Value
	(In Thousands)
Financial assets:
Cash and cash equivalents	$	130,944	$	130,944	$	33,657	$	33,657
Securities available for sale		22,540		22,540		25,909		25,909
Securities held to maturity		4,861		4,908		—		—
Federal Home Loan Bank stock		3,883		3,883		3,883		3,883
Loans receivable, net		274,098		277,519		283,459		285,607
Accrued interest receivable		1,142		1,142		1,214		1,214
Mortgage servicing rights		48		48		42		42
Financial liabilities:
Deposits		351,121		353,222		244,536		247,102
Federal Home Loan Bank Advances		50,691		53,498		56,400		59,585
Securities sold under agreements to repurchase		13,474		13,608		18,779		18,851
Accrued interest payable		374		374		428		428
Off-Balance sheet financial instruments		—		—		—		—

NOTE 5 – GUARANTEES

The Company has not issued any guarantees that would require liability recognition or disclosure, other than its letters of credit. Letters of credit are conditional commitments issued by the Company to guarantee the performance of a customer to a third party. Generally, all letters of credit, when issued, have expiration dates within one year. The credit risks involved in issuing letters of credit are essentially the same as those that are involved in extending loan facilities to customers. The Company generally holds collateral and/or personal guarantees supporting these commitments. As of December 31, 2009, the Company had $158,000 of letters of credit. Management believes that the proceeds obtained through a liquidation of collateral and the enforcement of guarantees would be sufficient to cover the potential amount of future payments required under the corresponding guarantees. Management believes that the current amount of the liability as of December 31, 2009 for guarantees under letters of credit issued is not material.

NOTE 6 – CONVERSION AND REORGANIZATION

On May 5, 2009, the Board of Directors of OBA Bancorp, MHC approved a plan of conversion and reorganization under which OBA Bancorp, MHC would convert from a mutual holding company to a stock holding company.

In accordance with OTS regulations, at the time of the conversion from a mutual holding company to a stock holding company, OBA Financial Services, Inc. substantially restricted retained earnings by establishing a liquidation account. The liquidation account will be maintained for the benefit of eligible account holders who continue to maintain their accounts at the Bank after conversion. The liquidation account will be reduced annually to the extent that eligible account holders have reduced their qualifying deposits. Subsequent increases will not restore an eligible account holder’s interest in the liquidation

23

OBA Bancorp, MHC

Notes to the Consolidated Financial Statements (Unaudited)—(Continued)

account. In the event of a complete liquidation of the Bank, and only in such event, each account holder will be entitled to receive a distribution from the liquidation account in an amount proportionate to the adjusted qualifying account balances then held. The Bank may not pay dividends if those dividends would reduce equity capital below the required liquidation account amount.

NOTE 7 – CORRECTION OF IMMATERIAL ERROR

The Company offers Home Equity Lines of Credit (“HELOC”) and Home Equity Loans (“HEL”), collectively (“Loans”), to their customers in the normal course of business. A standard feature of this product set is the prepayment of various closing costs and fees (“Closing Costs”) by the Bank and the amortization of these Closing Costs. These Closing Costs include, but are not limited to; standard closing costs and appraisal, credit report, and flood insurance fees. The Bank determined that the Subsidiary Ledger (“Ledger”) used to reconcile these items contained three errors:

• Periodic amortization of prepaid closing costs was being calculated incorrectly due to a spreadsheet error;

• Certain loans were not included in the Ledger; therefore, the entirety of the Closing Costs associated with those loans were not included in the Ledger; and

• Certain fees were not included in the Closing Costs in the Ledger.

As described in Note 1, Management determined the effects on the accompanying financial statements are as follows:

The effects of the restatement on retained earnings and total equity as of July 1, 2008 included in the accompanying Consolidated Statements of Equity and Comprehensive Income (Loss) (Unaudited) is a reduction of $71 thousand, and

the effects of the restatement on the consolidated Statement of Condition as of June 30, 2009 are as follows:

As originally reported:
Total assets	$	362,471
Loans receivable, net		283,641
Other assets		3,540
Equity		38,612
Restatement adjustments:
Total assets	$	(110	)
Loans receivable, net		(182	)
Other assets		72
Equity		(110	)
As restated:
Total assets	$	362,361
Loans receivable, net		283,459
Other assets		3,612
Equity		38,502

24

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

FINANCIAL REVIEW

The principal objective of this Financial Review is to provide an overview of the financial condition and results of operations of OBA Bancorp, MHC and its subsidiary. The discussion and tabular presentations should be read in conjunction with the accompanying unaudited Consolidated Financial Statements and Notes.

Overview of Income and Expenses

Income

The Company has two primary sources of pre-tax income. The first is net interest income. Net interest income is the difference between interest income, which is the income the Company earns on its loans and investments, and interest expense, which is the interest the Company pays on its deposits and borrowings.

The second source of pre-tax income is non-interest income, the compensation received from providing products and services. The majority of the non-interest income comes from service charges on deposit accounts, bank owned life insurance income, and loan servicing fees. The Company also earns income from the sale of residential mortgage loans and other fees and charges.

The Company recognizes gains or losses as a result of sales of investment securities, foreclosed property, and premises and equipment. In addition, the Company recognizes losses on its investment securities that are considered other-than-temporarily impaired. Gains and losses are not a regular part of the Company’s primary source of income.

Expenses

The expenses the Company incurs in operating its business consist of salaries and employee benefits, occupancy, equipment expense, external processing fees, FDIC assessments, Director fees, and other non-interest expenses.

Salaries and employee benefits expense consists primarily of the salaries and wages paid to employees, payroll taxes, and expenses for health care, retirement and other employee benefits.

Occupancy expenses, which are fixed or variable costs associated with premises and equipment, consist primarily of lease payments, real estate taxes, depreciation charges, maintenance, and cost of utilities.

Equipment expense includes expenses and depreciation charges related to office and banking equipment.

External processing fees are paid to third parties mainly for data processing services.

Other expenses include expenses for attorneys, accountants and consultants, advertising and marketing, franchise taxes, charitable contributions, insurance, office supplies, postage, telephone, and other miscellaneous operating expenses.

25

Critical Accounting Policies and Estimates

There are no material changes to the critical accounting policies disclosed in OBA Financial Services, Inc.’s Prospectus dated November 12, 2009, as filed with the Securities and Exchange Commission pursuant to Securities Act Rule 424(b)(3) on November 19, 2009.

Comparison of Financial Condition at December 31, 2009 and June 30, 2009

Assets. Total assets increased $93.6 million, or 25.8%, to $455.9 million at December 31, 2009 from $362.4 million at June 30, 2009. The increase was primarily due to an increase in cash and cash equivalents of $97.3 million due to $105.1 million collected as part of the mutual-to-stock conversion of OBA Bancorp, MHC.

Loans. At December 31, 2009, total gross loans were $275.2 million. During the six months ended December 31, 2009, the loan portfolio decreased $9.4 million, or 3.3%. The decrease was due to a reduction in mortgage loans of $17.1 million, offset by an increase in Home Equity products of $1.4 million and commercial loans of $6.3 million.

Allowance for Loan Losses. The allowance for loan losses at December 31, 2009 is $1.1 million. The allowance for loan losses at June 30, 2009 was $1.2 million. A discussion on the impact on trends and the allowance for loan losses are discussed in the Company’s Prospectus dated November 12, 2009 as filed with the Securities and Exchange Commission pursuant to Rule 424(b)(3) of the Securities Act of 1933, as amended.

Securities. At December 31, 2009, the securities portfolio totaled $27.4 million, or 6.0% of total assets. During the six months ended December 31, 2009, the securities portfolio increased $1.5 million, or 5.8%. The increase was caused by using excess cash to purchase U.S. Government agency mortgage-backed securities classified as held to maturity. As of December 31, 2009, three trust preferred securities with an amortized cost basis of $1.6 million and a fair value of $599,000 were included in the investment portfolio. Based on management’s review for the six months ended December 31, 2009, other-than-temporary impairment was recognized on two of these securities, incurring $550,000 of credit-related losses recorded through the statement of operations as a reduction of non-interest income, offset by $466,000 that was recorded as an increase in other comprehensive income. The net result was the recognition of other-than-temporary impairment of $84,000 for the six months ended December 31, 2009.

Deposits. During the six months ended December 31, 2009, deposits increased by $106.6 million, or 43.6%. The increase resulted from the collection of $105.1 million in subscription funds that were being held as deposits in connection with the mutual-to-stock conversion of OBA Bancorp, MHC.

Borrowings. During the six months ended December 31, 2009, borrowings decreased $11.0 million, or 14.7%. At December 31, 2009, Federal Home Loan Bank advances totaled $50.7 million, or 12.2% of total liabilities, and our repurchase agreements totaled $13.5 million, or 3.2% of total liabilities. At December 31, 2009, we had access to additional Federal Home Loan Bank advances of up to $48.8 million.

During the six months ended December 31, 2009, we repaid $5.7 million of Federal Home Loan Bank advances while simultaneously decreasing our repurchase agreements by $5.3 million. This lowered our cost of funds, as the increase in core deposits offset the repayment of these wholesale funding sources.

Equity. Equity increased $602,000, or 1.6%, to $39.1 million at December 31, 2009 from $38.5 million at June 30, 2009. The increase resulted from net income of $142,000 for the six months ended December 31, 2009, as well as a decrease in accumulated other comprehensive loss of $460,000.

26

Comparison of Operating Results for the Three Months Ended December 31, 2009 and 2008

General. Net income increased $15,000 to $97,000 for the three months ended December 31, 2009 from net income of $82,000 for the three months ended December 31, 2008. The increase in net income was a result of an increase in net interest income of $417,000, lower provision for loan losses of $130,000 offset by lower non-interest income of $257,000 and an increase in non-interest expense of $279,000.

Net Interest Income. Net interest income increased $417,000, or 20.7%, to $2.4 million for the three months ended December 31, 2009, compared to $2.0 million for the three months ended December 31, 2008. Interest expense decreased $769,000 as declining market interest rates resulted in the reduction of the cost of deposits and borrowings. Deposit inflows and loan prepayments allowed for the reduction of the average balance of borrowings which, generally, is higher-cost funding compared to core deposits. Interest and dividend income decreased $352,000, or 7.9%, as interest income on loans decreased $278,000 due both to a reduction in the loan portfolio and lower yields on the loans contained in the portfolio. The interest rate spread and net interest margin were 2.89% and 2.89%, respectively, for the three months ended December 31, 2009, compared to 2.39% and 2.17%, respectively, for the three months ended December 31, 2008. The improvement in the interest rate spread was the result of a decrease in the average cost of interest-bearing liabilities of 113 basis points, which more than offset a 41 basis points decrease in the average yield on interest-earning assets.

Interest and Dividend Income. Interest and dividend income decreased $352,000, or 7.9%, to $4.1 million for the three months ended December 31, 2009 from $4.4 million for the three months ended December 31, 2008. Interest income on loans decreased $278,000, or 7.0%, to $3.7 million for the three months ended December 31, 2009 from $4.0 million for the three months ended December 31, 2008, as the average yield on loans decreased 29 basis points, to 5.25% for the three months ended December 31, 2009 from 5.54% for the three months ended December 31 2008, reflecting decreases in market interest rates. In addition, average loans decreased $6.9 million, or 2.4%, reflecting a reduction in the average balance of one- to four-family residential real estate loans resulting from management’s decision to sell newly-originated, longer-term (primarily 30 year) fixed-rate one- to four-family residential real estate loans to help mitigate interest rate risk, as well as prepayments exceeding other originations that were held in the portfolio. The average balance of total commercial business and real estate loans was $100.8 million for the three months ended December 31, 2009 compared to $76.1 million for the three months ended December 31, 2008. The average balance of commercial business loans was $26.8 million for the three months ended December 31, 2009 compared to $6.5 million for the three months ended December 31, 2008, reflecting the recent focus on originating commercial business loans, as well as the recent purchases of commercial business loans, which generally carry higher yields and assist in managing interest rate risk.

Interest income on securities decreased $57,000, or 13.5%, to $365,000 for the three months ended December 31, 2009 from $422,000 for the three months ended December 31, 2008, as the average yield on securities decreased 24 basis points to 4.23% for the three months ended December 31, 2009 from 4.47% for the three months ended December 31, 2008, reflecting decreases in market interest rates and corresponding increases in prepayments within the mortgage backed securities portfolio.

Interest Expense. Interest expense decreased $769,000, or 31.9%, to $1.6 million for the three months ended December 31, 2009 from $2.4 million for the three months ended December 31, 2008. Interest expense on both deposits and borrowings decreased. Declining market interest rates and a

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decrease in higher-cost certificates of deposit allowed for the reduction of deposit expense by $530,000, or 35.2%, as the average rate paid on deposits decreased 120 basis points to 1.48% for the three months ended December 31, 2009 from 2.68% for three months ended December 31, 2008. This decrease more than offset an increase in interest expense resulting from an increase in the average balance of deposits of $37.9 million, or 17.0%, between the periods resulting from holding subscription funds for the mutual to stock conversion. Interest expense on borrowings decreased $239,000, or 26.4%, to $667,000 for the three months ended December 31, 2009 from $906,000 for the three months ended December 31, 2008, due to a $14.5 million, or 16.4%, decrease in the average balance of borrowings (primarily in Federal Home Loan Bank advances), as well as a 50 basis points decrease in the average cost of borrowings to 3.57% for the three months ended December 31, 2009 from 4.07% for the three months ended December 31, 2008 (reflecting decreases in market interest rates). The proceeds from loan prepayments and an increase in core deposits have continued to allow for the reduction in the average balance of borrowings.

Provision for Loan Losses. A credit to provision for loan losses of $55,000 was recorded for the three months ended December 31, 2009 compared to an increase in provision for loan losses of $75,000 for the three months ended December 31, 2008. The decrease in the provision for loan losses was a result of the payoff of one loan and a lower loss on that loan than was previously allocated. The approximately $2.3 million dollar loan was allocated at 15% of the loan balance or approximately $350,000. The actual loss on the loan was approximately $150,000. The difference, net of current quarter provision for loan losses, resulted in the credit to the provision. The allowance for loan losses was $1.1 million and $452,000 as of December 31, 2009 and 2008, respectively.

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Non-Interest Income. The following table summarizes changes in non-interest income between the three months ended December 31, 2009 and 2008.

	Three Months Ended December 31,					Change
	2009			2008		$			%
	(In Thousands)
Customer service fees	$	122		$	109	$	13		11.9	%
Loan servicing fees		12			15		(3	)	(20.0	)
Bank owned life insurance income		87			61		26		42.6
Impairment losses on investment securities		(326	)		—		(326	)	—
Net gain on the sale of investments		—			—		—		—
Net gain on sale of loans		19			—		19		—
Other non-interest income		22			8		14		175.0
Total non-interest loss	$	(64	)	$	193	$	(257	)	(133.2	)

An other-than-temporary impairment loss on the investments in trust preferred securities in the amount of $326,000 was recognized during the three months ended December 31, 2009, as described in “—Comparison of Financial Condition at December 31, 2009 and June 30, 2009—Securities.” An increase in bank owned life insurance income of $26,000 during the three months ended December 31, 2009 was a result of an additional purchase of $2.5 million of bank owned life insurance during the first fiscal quarter of 2009.

Non-Interest Expense. The following table summarizes changes in non-interest expense between the three months ended December 31, 2009 and 2008.

	Three Months Ended December 31,				Change
	2009		2008		$			%
	(In Thousands)
Salaries and employee benefits	$	1,217	$	1,058	$	159		15.0	%
Occupancy and equipment		390		385		5		1.3
Data processing		162		174		(12	)	(6.9	)
Directors’ fees		78		77		1		1.3
FDIC assessments		97		9		88		977.8
Other non-interest expense		363		325		38		11.7
Total non-interest expense	$	2,307	$	2,028	$	279		13.8

Federal deposit insurance premiums increased between the periods, reflecting an increase in the Federal Deposit Insurance Corporation’s (FDIC) regular insurance assessment rates.

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Income Tax Expense. Income taxes of $23,000 were recorded for the three months ended December 31, 2009, compared to income taxes of $27,000 for the three months ended December 31, 2008.

Comparison of Operating Results for the Six Months Ended December 31, 2009 and 2008

General. Net income decreased $161,000 to $142,000 for the six months ended December 31, 2009 compared to $303,000 for the six months ended December 31, 2008. The decrease was a result of lower non-interest income of $480,000 and higher non-interest expense of $516,000 offset higher net interest income of $683,000 and lower taxes of $127,000.

Net Interest Income. Net interest income increased $683,000, or 16.6%, to $4.8 million for the six months ended December 31, 2009, compared to $4.1 million for the six months ended December 31, 2008. Interest expense decreased $1.5 million as declining market interest rates resulted in the reduction of the cost of deposits and borrowings. Deposit inflows and loan prepayments allowed the reduction of the average balance of borrowings which, generally, is higher cost funding compared to core deposits. Interest and dividend income decreased $809,000, or 9.0%, as interest income on loans decreased $616,000 due both to a reduction in the loan portfolio and lower yields on the loans contained in the portfolio. The interest rate spread and net interest margin were 2.84% and 2.79%, respectively, for the six months ended December 31, 2009, compared to 2.44% and 2.21%, respectively, for the six months ended December 31, 2008. The improvement in the interest rate spread was the result of a decrease in the average cost of interest-bearing liabilities of 106 basis points, which more than offset a 48 basis points decrease in the average yield on interest-earning assets.

Interest and Dividend Income. Interest and dividend income decreased $809,000, or 9.0%, to $8.2 million for the six months ended December 31, 2009 from $9.0 million for the six months ended December 31, 2008. Interest income on loans decreased $616,000, or 7.6%, to $7.4 million for the six months ended December 31, 2009 from $8.1 million for the six months ended December 31, 2008, as the average yield on loans decreased 33 basis points, to 5.26% for the six months ended December 31, 2009 from 5.59% for the six months ended December 31, 2008, reflecting decreases in market interest rates. In addition, average loans decreased $6.0 million, or 2.1%, reflecting a reduction in our average balance of one- to four-family residential real estate loans resulting from management’s decision to selling newly-originated, longer-term (primarily 30 year) fixed rate one- to four-family residential real estate loans to mitigate interest rate risk, as well as prepayments exceeding other originations that were held in the portfolio. The average balance of total commercial business and real estate loans was $97.6 million for the six months ended December 31, 2009 compared to $74.7 million for the six months ended December 31, 2008. The average balance of commercial business loans was $26.4 million for the six months ended December 31, 2009 compared to $6.1 million for the six months ended December 31, 2008, reflecting the recent focus on originating commercial business loans, as well as our recent purchases of commercial business loans, which generally carry higher yields and assist in managing interest rate risk.

Interest income on securities decreased $128,000, or 15.0%, to $726,000 for the six months ended December 31, 2009 from $854,000 for the six months ended December 31, 2008, as the average yield on securities decreased 40 basis points to 4.21% for the six months ended December 31, 2009 from 4.61% for the six months ended December 31, 2008, reflecting decreases in market interest rates.

Interest Expense. Interest expense decreased $1.5 million, or 30.5%, to $3.4 million for the six months ended December 31, 2009 from $4.9 million for the six months ended December 31, 2008. Interest expense on both deposits and borrowings decreased. Declining market interest rates and a decrease in higher-cost certificates of deposit allowed for the reduction of deposit expense by $1.0

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million, or 32.8%, as the average rate paid on deposits decreased 114 basis points to 1.62% for the six months ended December 31, 2009 from 2.76% for six months ended December 31, 2008. This decrease more than offset an increase in the average balance of deposits of $31.9 million, or 14.4%, between the periods. Interest expense on borrowings decreased $486,000, or 26.8%, to $1.3 million for the six months ended December 31, 2009 from $1.8 million for the six months ended December 31, 2008, due to a $17.5 million, or 19.4%, decrease in our average balance of borrowings (primarily in Federal Home Loan Bank advances), as well as a 38 basis points decrease in our average cost of borrowings to 3.62% for the six months ended December 31, 2009 from 4.00% for the six months ended December 31, 2008 (reflecting decreases in market interest rates). The proceeds from loan prepayments and an increase in core deposits have continued to allow us to reduce our average balance of borrowings.

Provision for Loan Losses. We recorded provision for loan losses of $93,000 for the six months ended December 31, 2009 compared to $118,000 for the six months ended December 31, 2008. See “—Comparison of Operating Results for the Three Months Ended December 31, 2009—Provision for Loan Losses” for a discussion of the provision necessary to establish the allowance for loan losses at December 31, 2009 and 2008.

Non-Interest Income. The following table summarizes changes in non-interest income between the six months ended December 31, 2009 and 2008.

	Six Months Ended December 31,					Change
	2009			2008		$			%
	(In Thousands)
Customer service fees	$	242		$	215	$	27		12.6	%
Loan servicing fees		24			31		(7	)	(22.6	)
Bank owned life insurance income		169			121		48		39.7
Impairment losses on investment securities		(550	)		—		(550	)	—
Net gain on the sale of investments		3			—		3		—
Net gain on sale of loans		24			—		24		—
Other non-interest income		41			66		(25	)	(37.9	)
Total non-interest income (loss)	$	(47	)	$	433	$	(480	)	(110.9	)

An other-than-temporary impairment loss on the investments in trust preferred securities in the amount of $550,000 was recognized during the six months ended December 31, 2009, as described in “—Comparison of Financial Condition at December 31, 2009 and June 30, 2009—Securities.” An increase in bank owned life insurance income of $48,000 during the six months ended December 31, 2009 was a result of an additional purchase of $2,500,000 of bank owned life insurance during the six month period ended December 31, 2009.

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Non-Interest Expense. The following table summarizes changes in non-interest expense between the six months ended December 31, 2009 and 2008.

	Six Months Ended December 31,				Change
	2009		2008		$			%
	(In Thousands)
Salaries and employee benefits	$	2,398	$	2,095	$	303		14.5	%
Occupancy and equipment		764		760		4		0.5
Data processing		315		330		(15	)	(4.5	)
Directors’ fees		153		152		1		0.7
FDIC assessments		197		23		174		756.5
Other non-interest expense		702		653		49		7.5
Total non-interest expense	$	4,529	$	4,013	$	516		12.9

Federal deposit insurance premiums increased between the periods, reflecting an increase in the Federal Deposit Insurance Corporation’s regular insurance assessment rates. In connection with the mutual-to-stock conversion the Company increased the depth of the management team by hiring a new Chief Financial Officer and Director of Marketing during the six months ended December 31, 2009. These positions were additions to staff.

Income Tax Expense (Benefit). The Company recorded an income tax benefit of $12,000 for the six months ended December 31, 2009, compared to income tax expense of $115,000 for the six months ended December 31, 2008. The income tax benefit for the six months ended December 31, 2009 was a result of tax-free income earned on the Company’s investment in bank owned life insurance which exceeded pre-tax earnings for the quarter.

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ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

Not required, as the Registrant is a smaller reporting company.

ITEM 4. CONTROLS AND PROCEDURES

Not applicable.

ITEM 4T. CONTROLS AND PROCEDURES

An evaluation was performed under the supervision and with the participation of the Company’s management, including the President and Chief Executive Officer and the Chief Financial Officer, of the effectiveness of the design and operation of the Company’s disclosure controls and procedures (as defined in Rule 13a-15(e) promulgated under the Securities and Exchange Act of 1934, as amended) as of December 31, 2009. Based on that evaluation, the Company’s management, including the President and Chief Executive Officer and the Chief Financial Officer concluded that the Company’s disclosure controls and procedures were effective.

During the six months ended December 31, 2009, The Company hired a new Chief Financial Officer and a new Controller, and the Company’s previous Chief Financial Officer was named Chief Operations Officer. There have been no other changes in the Company’s internal control over financial reporting that have materially affected, or are reasonably likely to materially affect, the Company’s internal control over financial reporting.

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PART II – OTHER INFORMATION

ITEM 1. LEGAL PROCEEDINGS

As of December 31, 2009, the Registrant was not subject to any legal actions.

ITEM 1A. RISK FACTORS

Not required, as the Registrant is a smaller reporting company.

ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS

None.

ITEM 3. DEFAULTS UPON SENIOR SECURITIES

None

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

None

ITEM 5. OTHER INFORMATION

None

ITEM 6. EXHIBITS

The exhibits required by Item 601 of Regulation S-K are included with this Form 10-Q and are listed on the “Exhibit Index” immediately following the Signatures.

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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.

	OBA FINANCIAL SERVICES, INC.
	(Registrant)
Date: February 16, 2010	/S/    CHARLES E. WELLER
	Charles E. Weller
	President and Chief Executive Officer
Date: February 16, 2010	/S/    DAVID A. MILLER
	David A. Miller
	Senior Vice President and Chief Financial Officer

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EXHIBIT INDEX

Exhibit Number	Description
31.1	Certification of Charles E. Weller, President and Chief Executive Officer, Pursuant to Rule 13a-14(a) and Rule 15d-14(a).
31.2	Certification of David A. Miller, Senior Vice President and Chief Financial Officer, Pursuant to Rule 13a-14(a) and Rule 15d-14(a).
32	Certification of Charles E. Weller, President and Chief Executive Officer, and David A. Miller, Senior Vice President and Chief Financial Officer, Pursuant to 18 U.S.C. Section 1350, as Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.

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EX-31.1

Exhibit 31.1

CERTIFICATION

I, Charles E. Weller, certify that:

1) I have reviewed this report on Form 10-Q of OBA Financial Services, Inc.;

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

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

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

a) designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiary, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

b) evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

c) disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

5) The registrant’s other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):

a) all significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and

b) any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

Date: February 16, 2010

/s/ Charles E. Weller

Charles E. Weller

President and Chief Executive Officer

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EX-31.2

Exhibit 31.2

CERTIFICATION

I, David A. Miller, certify that:

1) I have reviewed this report on Form 10-Q of OBA Financial Services, Inc.;

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

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

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

a) designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiary, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

b) evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

c) disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

5) The registrant’s other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):

a) all significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and

b) any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

Date: February 16, 2010

/s/ David A. Miller

David A. Miller

Senior Vice President and
Chief Financial Officer

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EX-32

Exhibit 32

CERTIFICATION PURSUANT TO

18 U.S.C. SECTION 1350,

AS ADOPTED PURSUANT TO

SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

In connection with the Quarterly Report of OBA Financial Services, Inc. (the “Company”) on Form 10-Q for the period ended December 31, 2009 as filed with the Securities and Exchange Commission (the “Report”), the undersigned, Charles E. Weller, President and Chief Executive Officer of the Company, and David A. Miller, Senior Vice President and Chief Financial Officer, each certify, pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that to best of his knowledge:

(1) The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

(2) The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.

/s/ Charles E. Weller	Date: February 16, 2010
Charles E. Weller
President and Chief Executive Officer
/s/ David A. Miller	Date: February 16, 2010
David A. Miller
Senior Vice President and Chief Financial Officer

A signed original of this written statement required by Section 906 has been provided to OBA Financial Services, Inc. and will be retained by OBA Financial Services, Inc. and furnished to the Securities and Exchange Commission or its staff upon request.

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