×

Malvern Federal Savings Bank Enters New Jersey Market; Appoints Banking Veteran William Boylan as Head of Its New Jersey Commercial Lending Division

PAOLI, Pa., Aug. 19, 2015 (GLOBE NEWSWIRE) -- Malvern Federal Savings Bank (the “Bank” or “Malvern Federal”), the wholly owned subsidiary of Malvern Bancorp, Inc. (the “Company”) (NASDAQ:MLVF), today announced it has entered the commercial banking market in New Jersey with the appointment of veteran banker William J. Boylan as head of Malvern Federal’s new New Jersey Commercial Lending Division.

“Bill brings more than 30 years of New Jersey banking experience to Malvern Federal and is the ideal individual to introduce our bank to the New Jersey market,” said Anthony C. Weagley, President and CEO of Malvern Bancorp, Inc., and Malvern Federal Savings Bank. “He is highly regarded in the state as a commercial lender and leader of mortgage, consumer lending and business banking sales teams. Under Bill’s leadership, I expect to quickly grow the Malvern Federal brand in the Garden State.”

Prior to joining Malvern Federal, Bill was senior vice president, commercial lending for ConnectOne Bank, formerly Union Center National Bank, in Union, N.J. He previously served as senior vice president, business development and marketing for both Northern State Bank in Closter, N.J., and NVE Bank in Englewood, N.J. He also served in management positions in the Fort Lee, N.J., and Englewood offices of Summit Bank/United Jersey Bank.

Bill is a past chairman of the Mortgage Bankers Association of New Jersey’s Commercial Property Division; a former member and past president of the Englewood Rotary Club; and former director of the Englewood Chamber of Commerce. He currently serves as the immediate past chairman of the board of trustees and a trustee of Vantage Health System, a non-profit mental health organization serving Bergen County.

About Malvern Bancorp

Malvern Bancorp, Inc. is the holding company for Malvern Federal Savings Bank. Malvern Federal Savings Bank is a federally-chartered, FDIC-insured savings bank that was originally organized in 1887 and now serves as one of the oldest banks headquartered on the Philadelphia Mainline. 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 other financial centers located throughout Chester and Delaware Counties, Pennsylvania. 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://ir.malvernfederal.com. For information regarding Malvern Federal Savings Bank, please visit our web site at http://www.malvernfederal.com.

Forward-Looking Statements

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.

Investor Contact: Joseph D. Gangemi Corporate Investor Relations (610) 695-3676 Media Contact: David Culver, VP Public Relations BTC Marketing (610) 254-7426

Source:Malvern Bancorp, Inc.