PRESS RELEASE

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

OTC Electronic Bulletin Board "RSVB"

For Immediate Release
July 2, 2004


                       RSV BANCORP, INC. AND MT. TROY BANK
                             ANNOUNCE CHANGE OF NAME

         Pittsburgh,  Pennsylvania  - July 2,  2004 -- RSV  Bancorp,  Inc.  (the
"Company"),  the holding company of Mt. Troy Bank (the "Bank"),  announced today
that the  Company's  name change from "Reserve  Bancorp,  Inc." to "RSV Bancorp,
Inc." and the Bank's  name change from  "Reserve  Bank" to "Mt.  Troy Bank" were
effective as of July 1, 2004.

         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).