PAOLI, Pa., Jan. 15, 2015 (GLOBE NEWSWIRE) -- Malvern Federal Savings Bank (the "Bank"), the wholly owned subsidiary of Malvern Bancorp, Inc. (the "Company"), has announced that Anthony C. Weagley, who was selected as President and CEO of Malvern Federal Savings Bank and its holding company, Malvern Bancorp, Inc. (Nasdaq:MLVF) in September, was named in December among "10 Who Had a Good Year in Banking" by American Banker, a leading national, daily publication covering the financial services industry.
Weagley began 2014 as CEO of Center Bancorp in Union, N.J. In July, the bank finalized its merger with ConnectOne Bancorp in Englewood Cliffs, N.J. On September 23, Weagley joined Malvern Bancorp and Malvern Federal Savings.
According to American Banker, in addition to helping negotiate the acquisition of his previous bank in New Jersey and being named president and CEO of a Pennsylvania bank, by yearend Weagley "had impressed two of Malvern's activist investors so much that they lowered pressure on the company to sell itself."
American Banker's criteria for selecting the 10 banking executives were individuals who "began to realize their turnaround visions, handled tough tasks their companies threw at them, earned promotions or stuck their necks out on important matters" during 2014. The full American Banker article on Weagley and the other nine bankers who achieved notable success in 2014 can be accessed through this link: http://www.americanbanker.com/gallery/10-who-had-a-good-year-in-banking-1071877-1.html?utm_campaign=abla%20daily%20briefing-dec%2024%202014&utm_medium=email&utm_source=newsletter&ET=americanbanker%3Ae3544793%3A564362a%3A&st=email.
About Malvern Federal
Malvern Bancorp, Inc. is the holding company for Malvern Federal Savings Bank. Malvern Federal Savings Bank is a federally-chartered, FDIC-insured savings bank organized in 1887, and it now serves as one of the oldest banks headquartered on Philadelphia's Main Line. For more than a century, Malvern Federal has been committed to helping people build prosperous communities as a trusted financial partner, forging lasting relationships through teamwork, respect and integrity. The Bank conducts business from its headquarters in Paoli, Pennsylvania, a suburb of Philadelphia, as well as seven financial centers located throughout Chester and Delaware Counties, Pa. Its primary market niche is providing personalized service to its client base. The Bank focuses its lending activities on retail clients, commercial lending to small and medium-sized businesses, real estate developers and high-net-worth individuals.
For further information regarding Malvern Bancorp, Inc., please visit our web site at http://www.malvernfederal.com.
This press release contains certain forward looking statements. Forward-looking statements can be identified by the fact that they do not relate strictly to historical or current facts. They often include words like "believe," "expect," "anticipate," "estimate" and "intend" or future or conditional verbs such as "will," "would," "should," "could" or "may." Certain factors that could cause actual results to differ materially from expected results include changes in the interest rate environment, changes in general economic conditions, legislative and regulatory changes that adversely affect the business of Malvern Bancorp Inc., and changes in the securities markets. Except as required by law, the Company does not undertake any obligation to update any forward-looking statements to reflect changes in beliefs, expectations or events.
CONTACT: Investor Contact: Joseph D. Gangemi Corporate Investor Relations (610) 695-3676 Media Contact: David Culver, VP Public Relations Boyd Tamney Cross (610) 254-7426
Source:Malvern Bancorp, Inc.