EXHIBIT 99.1

FOR IMMEDIATE RELEASE

DELANCO BANCORP ANNOUNCES FIRST QUARTER 2009 RESULTS

AUGUST 17, 2009

DELANCO, NEW JERSEY

Delanco Bancorp, Inc. (Delanco) (NADASQ: DLNO.OB), the parent company of Delanco
Federal Savings Bank (the Bank), today announced its financial results for the
three months ended June 30, 2009.

For the three months ended June 30, 2009, Delanco recorded net earnings of $46
thousand as compared to a loss of $87 thousand for the three months June 30,
2008 and a loss of $466 thousand for the fourth quarter ending March 31, 2009.
Earnings per share for the first quarter ending June 30, 2009 was $0.03,
compared to a loss of $0.06 per share for the quarter ending June 30, 2008 and a
loss of $0.30 per share for the quarter ending March 31, 2009.

BALANCE SHEET

Total assets increased $5.2 million, or 4.0 % from March 31, 2009 to $135.7
million. The increase in assets was due primarily to increases in cash and cash
equivalents of $2.5 million and loans of $3.4 million.

Total deposits increased by $8.0 million or 7.1% to $122 million as of June 30,
2009 compared to $114 million as of March 31, 2009. Core deposits grew $3.8
million and time deposits grew by $4.2 million. During the quarter the Bank
repaid $2.75 million in borrowed funds from the Federal Home Loan Bank of New
York, leaving $1 million in outstanding borrowings.

At June 30, 2009 shareholders equity equaled $11.6 million, or 8.6 % of total
assets, compared to $11.5 million or 8.8 % at March 31, 2009. The increase in
stockholder's equity was primarily due to the quarterly earnings and a decrease
in the accumulated other comprehensive loss.

ASSET QUALITY

Non-performing loans totaled $8.3 million, or 6.14% of total assets at June 30,
2009, compared to $8.3 million, or 6.46% at March 31, 2009. At June 30, 2009
non-performing loans consisted of $6.55 million in commercial loans, $1.72
million in residential mortgages and $.03 million in consumer loans. Net
charge-offs during the three month period ended June 30, 2009 were $95 thousand,
compared to $224 thousand during the three month period ending March 31, 2009.
The allowance for loan losses at June 30, 2009 totaled $1.6 million, or 1.42% of
total loans outstanding, compared to $1.5 million or 1.47% of loans outstanding
at March 31, 2009.

The bank recorded a provision for loan losses of $100 thousand during the three
months ended June 30, 2009, compared to a provision of $360 thousand for the
quarter ended March 31, 2009.

NET INTEREST INCOME

Delanco's net interest income increased by $239 thousand or 29% to $1.1 million
for the quarter ended June 30, 2009 as compared to $825 thousand for the quarter
ended March 31, 2009 and increased by $262 thousand or 32.6% compared to the net
interest income for the quarter ended June 30, 2008.

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The net interest margin increased to 3.51% for the three months ended June 30,
2009, an increase of 83 basis points from the three months ended March 31, 2009,
reflecting a steady return on interest earning assets and a decline in the
interest cost on interest bearing liabilities. For the quarter ended June 30,
2008, the net interest margin was 2.70%.

NON-INTEREST INCOME

Non-interest income decreased to $11 thousand for the three months ended June
30, 2009 as compared to the three month period ended March 31, 2009. Compared to
the three month period ended June 30, 2008, non-interest income decreased by $7
thousand.

NON-INTEREST EXPENSES

Non-interest expenses decreased by $165 thousand for the three month period
ended June 30, 2009 as compared to the three month period March 31, 2009.
Compared to the three month period ended June 30, 2008, non-interest expense
decreased by $28 thousand. Decreases in professional fees and computer expenses
were offset to a lesser degree by increases in FDIC insurance payments.

ABOUT DELANCO BANCORP, INC.

Delanco Bancorp, Inc. is the holding company for Delanco Federal Savings Bank.
Delanco Federal Savings Bank operates from two offices in Burlington County, New
Jersey. Delanco Federal Savings Bank is engaged primarily in the business of
attracting deposits from the general public and using such funds to originate a
variety of consumer and business loans.

FORWARD-LOOKING STATEMENTS

This quarterly report contains forward-looking statements that are
based on assumptions and may describe our future plans, strategies and
expectations. These forward-looking statements are generally identified by use
of the words "believe," "expect," "intend," "anticipate," "estimate," "project"
or similar expressions.

Our ability to predict results or the actual effect of future plans or
strategies is inherently uncertain. Factors which could have a material adverse
effect on our operations include, but are not limited to, changes in interest
rates, national and regional economic conditions, legislative and regulatory
changes, monetary and fiscal policies of the U.S. government, including policies
of the U.S. Treasury and the Federal Reserve Board, the quality and composition
of our loan or investment portfolios, demand for loan products, deposit flows,
competition, demand for financial services in our market area, changes in real
estate market values in our area, and changes in relevant accounting principles
and guidelines.

These risks and uncertainties should be considered in evaluating forward-looking
statements and undue reliance should not be placed on such statements. Except as
required by applicable law or regulation, we do not undertake, and specifically
disclaim any obligation, to release publicly the result of any revisions that
may be made to any forward-looking statements to reflect events or circumstances
after the date of the statements or to reflect the occurrence of anticipated or
unanticipated events.

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DELANCO BANCORP, INC. AND SUBSIDIARY
CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION

JUNE 30, MARCH 31,
2009 2009
----------------------------------
(UNAUDITED)

ASSETS
Cash and cash equivalents
Cash and amounts due from banks.............................................. $ 803,938 $ 476,087
Interest-bearing deposits.................................................... 3,390,892 1,240,868
--------- ------------
Total cash and cash equivalents.............................. 4,194,830 1,716,955
Investment securities:
Securities held-to-maturity (fair value of $14,474,705 (unaudited) and
$14,730,626 at June 30,2009 and March 31, 2009, respectively).............. 14,036,453 14,282,255
Securities available-for-sale................................................ 243,226 222,719
------- ------------
Total investment securities.................................. 14,279,679 14,504,974
Loans, net of allowance for loan losses of $1,551,946 at June 30, 2009
(unaudited), $1,546,601 at March 31, 2009................................... 106,993,285 103,624,343
Accrued interest receivable...................................................... 498,449 499,981
Premises and equipment, net...................................................... 7,951,365 8,024,232
Investment required by law-stock in Federal Home Loan Bank, at cost.............. 251,700 345,900
Deferred income taxes............................................................ 518,000 561,000
Bank owned life insurance........................................................ 136,004 130,042
Prepaid refundable income taxes.................................................. 551,841 561,971
Other assets..................................................................... 296,981 498,966
------- ------------
Total assets................................................. $135,672,134 $130,468,364
============ ============

LIABILITIES
Deposits
Non-interest bearing deposits................................................ 2,703,265 2,518,934
Interest bearing deposits.................................................... 119,317,406 111,464,281
----------- -----------
Total deposits............................................... 122,020,671 113,983,215
Federal Home Loan Bank Advances ................................................. 1,000,000 3,750,000
Accrued interest payable......................................................... 60,883 211,962
Advance payments by borrowers for taxes and insurance............................ 388,201 359,738
Other liabilities................................................................ 596,556 642,032
------- -------------
Total liabilities............................................ 124,066,311 118,946,947
----------- -------------

COMMITMENTS AND CONTINGENCIES
STOCKHOLDERS' EQUITY
Preferred stock, $.01 par value, 3,000,000 shares authorized; no shares issued... -- --
Common stock, $.01 par value, 7,000,000 shares authorized; 1,634,725 shares
issued and outstanding...................................................... $ 16,347 $ 16,347
Additional paid-in capital....................................................... 6,652,235 6,652,235
Retained earnings, substantially restricted...................................... 5,545,468 5,499,813
Unearned common stock held by employee stock ownership plan...................... (576,729) (576,729)
Accumulated other comprehensive (Loss)........................................... (31,498) (70,249)
------ ------------
Total stockholder's equity................................... 11,605,823 11,521,417
--------- ------------
Total liabilities and stockholders' equity................... $135,672,134 $130,468,364
============ ============

DELANCO BANCORP, INC. AND SUBSIDIARY
CONSOLIDATED STATEMENTS OF OPERATIONS
(UNAUDITED)

THREE MONTHS ENDED
JUNE 30, MARCH 31, JUNE 30,
2009 2009 2008
---------------- ---------------- ---------------

INTEREST INCOME
Loans............................................................ $ 1,596,819 $ 1,462,485 $ 1,549,416
Investment securities............................................ 167,713 196,151 197,202
------- ------- -------
Total interest income........................................ 1,764,532 1,658,636 1,746,618

INTEREST EXPENSE
Interest-bearing checking accounts............................... 26,020 25,154 13,000
Passbook and money market accounts............................... 137,695 153,703 178,253
Certificates of deposits......................................... 526,388 647,699 752,446
Federal Home Loan Bank Advances .................................. 9,656 6,687 --
----- ----- -------
Total interest expense....................................... 699,759 833,243 943,699

Net interest income.......................................... 1,064,773 825,392 802,919
Provision for loan losses........................................... 100,000 360,000 --
------- ------- -------
Net interest income after provision for loan losses.......... 964,773 465,392 802,919

NON-INTEREST INCOME
Income from bank-owned life insurance............................ 5,962 0 5,630
Service charges.................................................. 35,845 (11,099) 25,337
Rental income.................................................... -- 0 5,875
Other............................................................ 5,026 69,330 16,863
----- ------ ------
Total non-interest income.................................... 46,833 58,231 53,705
------ ------ ------

NON-INTEREST EXPENSE
Salaries and employee benefits................................... 480,703 475,931 481,659
Advertising...................................................... 9,931 8,633 15,127
Office supplies, telephone and postage........................... 27,253 32,471 36,814
Net occupancy expense............................................ 169,250 169,092 162,970
Federal insurance premiums....................................... 57,695 32,818 17,550
Data processing expenses......................................... 45,402 53,297 33,498
ATM expenses..................................................... 3,782 18,838 17,159
Bank charges and fees............................................ 30,509 18,454 15,357
Insurance and surety bond premium................................ 16,206 1,534 14,225
Dues and subscriptions........................................... 14,058 13,476 12,604
Professional fees................................................ 47,824 56,798 111,397
On-line banking expense.......................................... -- 26,388 27,259
Other............................................................ 46,173 206,080 31,766
------ ------- ------
Total non-interest expense................................... 948,786 1,113,810 977,385
------- --------- -------

INCOME (LOSS) BEFORE INCOME TAX EXPENSE (BENEFIT)................... 62,820 (590,187) (120,761)
------ --------- ---------

Income taxes (benefits) (17,165) (124,605) (34,232)
-------- --------- --------

NET INCOME (LOSS) $ 45,655 $(465,582) $ (86,529)
========== ========= ===========

INCOME (LOSS) PER COMMON SHARE...................................... .03 (.30) (0.06)
=== ===== ======

DELANCO BANCORP, INC. AND SUBSIDIARY
CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY
(UNAUDITED)

UNEARNED ACCUMULATED
COMMON STOCK ADDITIONAL CAPITAL EMPLOYEE STOCK OTHER- TOTAL
---------------------- PAID-IN RETAINED OWNERSHIP COMPENSATION STOCKHOLDERS'
SHARES AMOUNT CAPITAL EARNINGS PLAN INCOME (LOSS) EQUITY
--------- ---------- ---------- --------- -------------- -------------- ------------

BALANCE AT MARCH 31, 2009................. 1,634,725 $16,347 $6,652,235 $5,499,813 $(576,729) $(70,249) $11,521,417

Net income.............................. 45,655 45,655
Other comprehensive income, net of tax:
Change in unrealized gain on securities
available-for-sale, net of deferred
income taxes of $(20,998) ............ 38,751 38,751
--------- -------- ---------- --------- --------- -------- -----------
Total comprehensive income 45,655 38,751 84,406

BALANCE AT JUNE 30, 2009.............. 1,634,725 $ 16,347 $6,652,235 $5,545,468 $(576,729) $(31,498) $11,605,823
========= ======== ========== ========== ========= ======== ===========

NONPERFORMING ASSETS
JUNE 30, MARCH 31,
(Dollars in thousands) 2009 2009
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Nonaccrual loans.................................................................. $ 8,330 $ 8,298
Accruing loans past due 90 days or more........................................... -- 128
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Total of nonaccrual and 90 days or more past due loans................... 8,330 8,426
Real estate owned.................................................................
Other nonperforming assets........................................................ 118 295
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Total nonperforming assets............................................... 8,448 8,721
Troubled debt restructurings...................................................... 590 303
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Troubled debt restructurings and total nonperforming assets....................... $ 9,038 $ 9,024
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Total nonperforming loans to total loans.......................................... 7.67% 8.00%
Total nonperforming loans to total assets......................................... 6.14 6.46
Total nonperforming assets and troubled debt restructurings to total assets....... 6.66 6.92
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