EXHIBIT 99.1

                           CHESTER VALLEY BANCORP INC
                                    DECLARES
                             QUARTERLY CASH DIVIDEND



FOR IMMEDIATE RELEASE

THURSDAY MAY 27, 2004

CONTACT: JOSEPH T. CROWLEY
         CHIEF FINANCIAL OFFICER
         (610) 269-9700


Downingtown - Chester Valley Bancorp Inc. announced the declaration of a $.105
quarterly cash dividend. The dividend will be paid on June 30, 2004 to
shareholders of record as of the close of business on June 14, 2004. The cash
dividend is based on record earnings of $1.6 million or $.32 per diluted share
for the quarter ended March 31, 2004. At March 31, 2004, the Company had assets
of $630.4 million and stockholders' equity of $53.3 million. It is the Company's
intention that any future cash dividends will be paid on the last day of a
calendar quarter.

Chester Valley Bancorp Inc. is the parent company of both First Financial Bank
and Philadelphia Corporation for Investment Services. First Financial Bank's
executive offices are located in Downingtown, Pennsylvania with additional
branch locations in Exton, Frazer, Thorndale, Westtown, Airport Village,
Brandywine Square, Devon, Kennett Square, Eagle and Coatesville. Philadelphia
Corporation has offices in Wayne and Philadelphia.

Chester Valley Bancorp stock is traded on the NASDAQ market under the symbol
"CVAL".