EXHIBIT 99.1

                                  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 "RSVI"

For Immediate Release
December 3, 2004

                                RSV BANCORP, INC.
                     ANNOUNCES DECLARATION OF CASH DIVIDEND



         Pittsburgh,  Pennsylvania - December 3, 2004 -- RSV Bancorp,  Inc. (the
"Company"),  the holding company of Mt. Troy 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 December 15, 2004,  payable on
or about December 31, 2004.

         The Company  indicated that the cash dividend 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 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.

         Mt.  Troy  Bank is a  federally  chartered  stock  savings  bank  which
conducts 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).  The Company's common stock is traded on the OTC
Bulletin Board under the symbol "RSVI."

         The foregoing material contains  forward-looking  statements concerning
the financial  condition,  results of operations and business of the Company. We
caution that such statements are subject to a number of uncertainties and actual
results could differ materially, and, therefore,  readers should not place undue
reliance on any forward-looking  statements. The Company does not undertake, and
specifically  disclaims,  any obligation to publicly  release the results of any
revisions  that may be made to any  forward-looking  statements  to reflect  the
occurrence of anticipated or  unanticipated  events or  circumstances  after the
date of such statements.