Pamrapo Bancorp, Inc. Announces Suspension of Dividend

BAYONNE, NJ, Aug 27 (MARKET WIRE) --
Pamrapo Bancorp, Inc. (NASDAQ: PBCI) announced that its board of
directors has decided to suspend the Company's regular cash dividends on
its common stock, including the dividend for the third quarter of 2009,
until further notice. Interim President and Chief Executive Officer
Kenneth D. Walter stated, "Given the uncertain economic climate, as well
as the internal challenges that the Company has been facing, the board of
directors and management feel that it is prudent and in the best interest
of shareholders to preserve our capital in these difficult economic
times."

The dividend policy will be regularly assessed by the Company's board of
directors and will depend, among other things, on the Company's earnings,
obligations and capital resources, and overall market conditions.

Pamrapo is a holding company whose principal subsidiary, Pamrapo Savings
Bank, S.L.A., operates ten branch offices in Bayonne, Hoboken, Jersey City
and Monroe, New Jersey.

Forward-Looking Statements

This press release may include certain forward-looking statements based on
current management expectations. The actual results of Pamrapo Bancorp,
Inc. (the "Company") could differ materially from those management
expectations. Factors that could cause future results to vary from current
management expectations include, but are not limited to, general economic
conditions, legislative and regulatory changes, monetary and fiscal
policies of the federal government, changes in tax policies, rates and
regulations of federal, state and local tax authorities, changes in
interest rates, deposit flows, the cost of funds, demand for loan
products, demand for financial services, competition, changes in the
quality or composition of loan and investment portfolios of Pamrapo
Savings Bank, S.L.A., the Company's wholly-owned subsidiary, changes in
accounting principles, policies or guidelines, and other economic,
competitive, governmental and technological factors affecting the
Company's operations, markets, products, services and prices. The Company
wishes to caution readers not to place undue reliance on any such
forward-looking statements, which speak only as of the date made. The
Company undertakes no obligation to publicly release the result of any
revisions that may be made to any forward-looking statements to reflect
events or circumstances after the date of such statements or to reflect
the occurrence of anticipated or unanticipated events.

CONTACT:
Robert A. Hughes
Investor Relations
201-339-4600

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