PAOLI, Pa., Oct. 31, 2016 (GLOBE NEWSWIRE) -- Malvern Federal Savings Bank (“Malvern”), the wholly owned subsidiary of Malvern Bancorp, Inc. (NASDAQ:MLVF), today announced that it plans to open a private banking branch office at 2100 Quaker Pointe Drive, Quakertown PA. The office will offer an array of services including savings, private banking/wealth management and lending services.
Malvern has recently expanded its presence in the region with the recent opening of a private banking and commercial lending division headquartered in New Jersey, and a new private banking office in Villanova.
"We are very excited about having a presence in Quakertown, our first location in Bucks County. We expect our new office to be operational in the first quarter of 2017,” explained Anthony C. Weagley, President and CEO of Malvern Bancorp, Inc., and Malvern. “The office will feature commercial lending, credit administration, and private banking teams. We are expanding Malvern’s presence into this particular location because it gives us access not only to Bucks County, but to the nearby Lehigh Valley/Allentown region to the North and the Montgomery County region to the South. 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.”
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/.
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," “plan,” "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.