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Malvern Federal Savings Bank Opens New Banking Offices in Morristown, NJ

PAOLI, Pa., June 30, 2016 (GLOBE NEWSWIRE) -- Malvern Federal Savings Bank (“Malvern”), the wholly owned subsidiary of Malvern Bancorp, Inc. (NASDAQ:MLVF), today announced that its New Jersey Headquarters is now open and serving Malvern’s New Jersey and New York client base, from offices located at 163 Madison Avenue in the Morristown Plaza Office Complex.

“With this opening, Malvern is solidifying its presence and, more importantly, setting our firm footprint in New Jersey, by bringing Malvern’s first class customer service into the State,” said Anthony C. Weagley, President and CEO of Malvern Bancorp, Inc. and Malvern Federal Savings Bank. “We offer consumers a superior, personalized banking experience, including banking by appointment, which enables customers to schedule a meeting with our financial professionals at a time that is convenient to them.” As previously announced, our office will feature commercial lending and private banking teams.

Malvern’s key executive appointment in New Jersey is William Boylan, senior vice president and chief lending officer for New Jersey and Pennsylvania. Boylan will lead Malvern’s New Jersey team, and has already been working to make the Bank a success in the state. He also finds time to serve his community as a trustee for Bergen County-based Vantage Health System and by fundraising for Monmouth University and the local March of Dimes.

Look for the Company’s announcement on the electronic billboard in Wharton on interstate route 80.

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 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 and a Private Banking Loan Production headquarters office in Morristown, New Jersey. Its primary market niche is providing personalized service to its client base.

The Bank, through its Private Banking division and strategic partnership with Bell Rock Capital, Rehoboth Delaware, provides personalized wealth management and advisory services to high net worth individuals and families. Our services include banking, liquidity management, investment services, 401(K) accounts and planning, custody, tailored lending, wealth planning, trust and fiduciary services, insurance, family wealth advisory services and philanthropic advisory services.

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 https://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 Relations: Joseph D. Gangemi SVP & CFO (610) 695-3676 Investor Contact: Ronald Morales (610) 695-3646 Media Contact: Bronwyn Pait, Marketing (610) 695-3630

Source:Malvern Bancorp, Inc.