PRESS RELEASE

                                                 Contact:  Gerard R. Kunic
                                                           President
                                                           Reserve Bancorp, Inc.
                                                           (412) 322-6107
Reserve Bancorp, Inc.
Reserve Bank
2000 Mt. Troy Road
Pittsburgh, Pennsylvania 15212

OTC Electronic Bulletin Board "RSVB"
                                                           For Immediate Release
                                                           May 27, 2004


                     RESERVE BANCORP, INC. AND RESERVE BANK
               ANNOUNCE INCREASED CASH DIVIDEND AND CHANGE OF NAME

         Pittsburgh,  Pennsylvania -- May 27, 2004 -- Gerard R. Kunic, President
of Reserve Bancorp,  Inc. (the  "Company"),  the holding company of Reserve Bank
(the "Bank"), announced today that the Company's Board of Directors has declared
a semi-annual  cash dividend of $.15 per share to  stockholders  of record as of
June 15, 2004, payable on or about June 30, 2004.

         Mr. Kunic  indicated  that the increased  cash  dividend  (from $.10 to
$.15) is being paid as a result of  continued  profitability  of the Company and
the Bank.  It is the current  intention of the Board of Directors to continue to
pay a  dividend  semi-annually.  However,  the  payment  and  amount  of  future
dividends  will be  subject  to the  Board's  periodic  review of the  financial
condition, earnings, and capital requirements of the Company and the Bank.

         The Company also  announced it will be changing its name from  "Reserve
Bancorp, Inc. to RSV Bancorp, Inc." and the name of the Bank from "Reserve Bank"
to "Mt. Troy Bank," in approximately  July 2004. The change in names was made to
avoid confusion with government organizations having similar names.

         Mt.  Troy  Bank is a  federally  chartered  stock  savings  bank  which
conducts its business from its main office in Reserve Township, Pennsylvania and
a full-service branch office in McCandless  Township,  Pennsylvania.  The Bank's
deposits  are insured up to the  maximum  legal  amount by the  Federal  Deposit
Insurance  Corporation  (FDIC).  At March 31, 2004, the Company had total assets
and  stockholders'  equity of  $73,573,888  and  $8,642,732,  respectively.  The
Company's  common  stock is traded on the OTC  Bulletin  Board  under the symbol
"RSVB." No change will be made in the symbol as a result of the name changes.