EXHIBIT 99.1



                                  PRESS RELEASE
                   FOR RELEASE DECEMBER 15, 2008 AT 4:00 P.M.

                          For More Information Contact
                      Joseph J. Bouffard, BCSB Bancorp, Inc
                                President and CEO
                     (410) 248-9130 email:jbouffard@bcsb.net


                BCSB BANCORP, INC. RECEIVES PRELIMINARY APPROVAL
          TO PARTICIPATE IN THE U.S. TREASURY CAPITAL PURCHASE PROGRAM

BALTIMORE, MD BCSB Bancorp, Inc. (Nasdaq: BCSB), the holding company for
Baltimore County Savings Bank, F.S.B., announced that it has received
preliminary approval of its application to participate in the Capital Purchase
Program (CPP) established by the United States Department of the Treasury (the
Treasury) under the Emergency Economic Stabilization Act of 2008.

"We are pleased to be a part of this program," commented Joe Bouffard,
President, BCSB Bancorp, Inc. "These funds are only available to financially
sound organizations, like our Company, and will help support our lending
activities to homeowners and small businesses in our local community."

The CPP is a voluntary program available only to financially sound institutions
to build capital levels to support the U.S. economy by increasing the amount of
available credit to businesses and consumers. As a participant in the CPP, BCSB
Bancorp. Inc. could receive up to $10,800,000 in capital from the Treasury in
exchange for the issuance of shares of preferred stock. Additionally, the
Treasury will receive warrants to purchase an additional $1.6 million of BCSB
Bancorp. Inc.'s common stock for a exercise price to be determined when the
transaction closes. The non-voting senior preferred shares to be issued to the
Treasury will receive a dividend of 5% annually for the first five years after
issuance and 9% annually after the fifth year, if they are not redeemed.

Participation in the program is subject to the Treasury Department's standard
terms and conditions, and sale of preferred shares is subject to the completion
and review of necessary documentation.

Founded in 1955, Baltimore County Savings Bank operates under its holding
company, BCSB Bancorp, Inc. and provides regional community banking solutions
through 18 locations across the Baltimore metropolitan area. For more
information, visit www.baltcosavings.com.

THIS PRESS RELEASE CONTAINS STATEMENTS THAT ARE FORWARD-LOOKING, AS THAT TERM IS
DEFINED BY THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995 OR THE
SECURITIES AND EXCHANGE COMMISSION IN ITS RULES, REGULATIONS AND RELEASES. THE
COMPANY INTENDS THAT SUCH FORWARD-LOOKING STATEMENTS BE SUBJECT TO THE SAFE
HARBORS CREATED THEREBY. ALL FORWARD-LOOKING STATEMENTS ARE BASED ON CURRENT
EXPECTATIONS REGARDING IMPORTANT RISK FACTORS, INCLUDING BUT NOT LIMITED TO REAL
ESTATE VALUES, MARKET CONDITIONS, THE IMPACT OF INTEREST RATES ON FINANCING, AND
LOCAL AND NATIONAL ECONOMIC FACTORS. ACCORDINGLY, ACTUAL RESULTS MAY DIFFER FROM
THOSE EXPRESSED IN THE FORWARD-LOOKING STATEMENTS, AND THE MAKING OF SUCH
STATEMENTS SHOULD NOT BE REGARDED AS A REPRESENTATION BY THE COMPANY OR ANY
OTHER PERSON THAT RESULTS EXPRESSED HEREIN WILL BE ACHIEVED.