Exhibit 99.1

Pamrapo Bancorp, Inc. Reports Fourth Quarter Results

BAYONNE, NJ—(Marketwire—February 1, 2008)—Pamrapo Bancorp, Inc. (NASDAQ: PBCI) today reported net income for the fourth quarter and fiscal year ended December 31, 2007.

Net income for the fourth quarter of 2007 amounted to $828,000, or $0.17 cents per share, as compared with $1.418 million, or $0.28 cents per share, in the fourth quarter of 2006.

Net income for the year ended December 31, 2007 amounted to $4.352 million, or $0.87 cents per share, as compared with $6.542 million, or $1.31 cents per share, for the year ended December 31, 2006.

Pamrapo’s book value per share at December 31, 2007 was $11.79.

Pamrapo Bancorp, Inc. is a holding company whose principal subsidiary, Pamrapo Savings Bank, S.L.A., operates eleven branch offices in Bayonne, Jersey City, Fort Lee, Hoboken, 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.

PAMRAPO BANCORP, INC. AND SUBSIDIARIES

COMPARATIVE STATEMENTS OF FINANCIAL CONDITION

(In Thousands)

	December 31, 2007			December 31, 2006
ASSETS
Cash and amounts due from depository institutions	$	3,920		$	4,557
Interest-bearing deposits in other banks		62,976			8,790
Cash and Cash Equivalents		66,896			13,347
Securities available for sale		917			1,170
Investment securities held to maturity		10,377			9,168
Mortgage-backed securities held to maturity		123,907			141,053
Loans receivable		439,053			454,859
Foreclosed real estate		486			—
Premises and equipment		3,340			3,731
Federal Home Loan Bank of New York stock		4,996			5,721
Interest receivable		2,738			2,894
Deferred tax asset		2,504			2,228
Other assets		2,214			2,389
Total Assets	$	657,428		$	636,560
LIABILITIES AND STOCKHOLDERS’ EQUITY
Liabilities:
Deposits	$	507,961		$	469,941
Advances from Federal Home Loan Bank of
New York		84,000			101,000
Advance payments by borrowers for taxes and insurance		3,558			3,654
Other liabilities		3,270			3,397
Total Liabilities		598,789			577,992
Stockholders’ Equity:
Preferred stock; 3,000,000 shares authorized; none issued and outstanding		—			—
Common Stock; $0.01 par value; 25,000,000 shares authorized; 6,900,000 shares issued; 4,975,542 shares outstanding		69			69
Paid-in capital		19,340			19,340
Retained earnings		63,711			63,937
Accumulated other comprehensive (loss)		(1,302	)		(1,599	)
Treasury stock, at cost; 1,924,458 shares		(23,179	)		(23,179	)
Total Stockholders’ Equity		58,639			58,568
Total Liabilities and Stockholders’ Equity	$	657,428		$	636,560

PAMRAPO BANCORP, INC. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF INCOME

(In Thousands, except per share data)

	For the Year Ended December 31,				Three Months Ended December 31,
	2007		2006		2007		2006
Interest income
Loans	$	28,838	$	28,937	$	7,163	$	7,378
Mortgage-backed securities		6,003		7,222		1,392		1,674
Investments		695		773		181		170
Other interest-earning assets		1,566		606		462		168
Total Interest Income		37,102		37,538		9,198		9,390
Interest expense
Deposits		13,699		11,314		3,502		3,146
Advances and other borrowed money		4,384		4,667		1,051		1,243
Total Interest Expense		18,083		15,981		4,553		4,389
Net Interest Income		19,019		21,557		4,645		5,001
Provision for Loan Losses		670		0		150		0
Net Interest Income after Provision for Loan Losses		18,349		21,557		4,495		5,001
Non-Interest Income
Fees and service charges		1,250		1,183		319		285
Commissions from sale of financial products		904		976		159		366
Gain on sale of securities available for sale		0		430		0		0
Other		194		209		56		51
Total Non-Interest Income		2,348		2,798		534		702
Non-Interest Expenses
Salaries and employee benefits		7,596		7,638		2,105		1,909
Net occupancy expense of premises		1,200		1,183		299		273
Equipment		1,320		1,295		370		328
Advertising		255		307		78		72
Professional fees		771		595		221		135
Other		2,700		2,867		682		719
Total Non-Interest Expenses		13,842		13,885		3,755		3,436
Income before Income Taxes		6,855		10,470		1,274		2,267
Income Taxes		2,503		3,928		446		849
Net Income	$	4,352	$	6,542	$	828	$	1,418
Net Income per Common Share
Basic	$	0.87	$	1.31	$	0.17	$	0.28
Diluted	$	0.87	$	1.31	$	0.17	$	0.28
Weighted Average Number of Common Shares outstanding
Basic		4,975,542		4,975,542		4,975,542		4,975,542
Diluted		4,978,652		4,980,708		4,977,455		4,982,335
Dividends per Common Share	$	0.92	$	0.92	$	0.23	$	0.23

CONTACT

Robert A. Hughes, CPA

Investor Relations

201-339-4600