8-K

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

Form 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of

the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): April 21, 2004

Pamrapo Bancorp, Inc.

(Exact name of registrant as specified in its charter)

New Jersey	0-18014	22-2984813
(State or other Jurisdiction of Incorporation)	(Commission File No.)	(I.R.S. Employer Identification No.)
611 Avenue C, Bayonne, New Jersey		07002
(Address of principal executive offices)		(Zip Code)

Registrant’s telephone number, including area code: (201) 339-4600

Not Applicable

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

Item 7. Financial Statements and Exhibits.

(c) Exhibits

Exhibit 99.1 — Press Release of Pamrapo Bancorp, Inc.

Item 12. Disclosure of Results of Operations and Financial Condition.

The following information is furnished pursuant to Item 12, “Disclosure of Results of Operations and Financial Condition.”

On April 21, 2004, Pamrapo Bancorp, Inc. issued a press release announcing its earnings for the three months ended March 31, 2004. The information contained in the press release, which is attached as Exhibit 99.1 to this Form 8-K, is incorporated herein by reference.

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 hereunto duly authorized.

	PAMRAPO BANCORP, INC.
Date: April 22, 2004	By:	/s/    William J. Campbell
		William J. Campbell, President and Chief Executive Officer

EX-99.1

Exhibit 99.1

Pamrapo Bancorp Reports First Quarter Results

BAYONNE, NJ – 04/21/2004 – Pamrapo Bancorp, Inc. (NASDAQ. PBCI) today reported net income for the first quarter ended March 31, 2004.

Net income for the first quarter of 2004 amounted to $1.946 million, or 39 cents per share, as compared with $1.847 million, or 36 cents per share in the first quarter of 2003. The weighted average number of diluted shares outstanding during the 2004 and 2003 periods was 5.001 million and 5.146 million, respectively.

Pamrapo’s book value per share at March 31, 2004 was $10.50.

Pamrapo Bancorp is holding company whose principal subsidiary, Pamrapo Savings Bank, S.L.A., operates nine branch offices in Bayonne, Fort Lee, Hoboken and Monroe, New Jersey.

PAMRAPO BANCORP, INC AND SUBSIDIARIES

CONSOLIDATED STATEMENT OF INCOME

(In thousands, except per share data)

(Unaudited)

	Quarter ended March 31,
	2004		2003
Interest income:
Loans	$	6,133	$	6,931
Mortage-backed securities		2,453		2,124
Investments and other interest-earning assets		244		288
Total interest income		8,830		9,343
Interest expense:
Deposits		2,024		2,624
Advances and other borrowed money		798		999
Total interest expense		2,822		3,623
Net interest income		6,008		5,720
Provision for loan losses		10		30
Net interest income after provision for loan losses		5,998		5,690
Non-interest income:
Fees and service charges		320		342
Miscellaneous		291		231
Total non-interest income		611		573
Non-interest expenses:
Salaries and employee benefits		1,927		1,715
Net occupancy expense of premises		247		260
Equipment		304		362
Advertising		62		44
Miscellaneous		826		775
Total non-interest expenses		3,366		3,156
Income before income taxes		3,243		3,107
Income taxes		1,297		1,260
Net income	$	1,946	$	1,847
Basic/diluted earnings per common share	$	.39	$	.36
Dividends per common share	$	.21	$	.20
“Weighted average number of common shares and common stock equivalents outstanding:”
Basic		4,974		5,146
Diluted		5,001		5,146

PAMRAPO BANCORP, INC. AND SUBSIDIARIES

CONSOLIDATED STATEMENT OF FINANCIAL CONDITION

(In thousands)

(Unaudited)

	March 31, 2004			December 31, 2003
ASSETS
Cash and amounts due from depository institutions	$	18,074		$	10,126
Securities available for sale		3,842			3,922
Investment securities held to maturity		9,396			9,422
Mortgage-backed securities held to maturity		211,826			218,418
Loans receivable		378,747			378,641
Premises and equipment		4,007			4,093
Investment in real estate		128			130
Federal Home Loan Bank of New York stock, at cost		4,744			4,744
Interest receivable		2,929			2,838
Other assets		5,156			4,561
Total assets	$	638,849		$	636,895
LIABILITIES AND STOCKHOLDERS’ EQUITY
Liabilities:
Deposits	$	489,883		$	492,161
Advances from Federal Home Loan Bank of N.Y.		89,000			87,000
Other borrowed money		110			118
Advance payments by borrowers for taxes, insurance		3,347			3,496
Other liabilities		4,279			2,797
Total liabilities	$	586,619		$	585,572
Stockholders’ equity:
Common stock; par value $.01; authorized: 25,000,000 shares; 6,900,000 shares issued; 4,974,313 shares outstanding		69			69
Paid-in capital in excess of par value		18,957			18,957
Retained earnings—substantially restricted		55,524			54,622
Accumulated other comprehensive income—net		248			243
Treasury stock at cost: 1,925,687 shares		(22,568	)		(22,568	)
Total stockholders’ equity	$	52,230		$	51,323
Total liabilities and stockholders’ equity	$	638,849		$	636,895

CONTACT

Robert A. Hughes

CPA, Vice President

201-339-4600