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Malvern Federal Promotes William J. Boylan to Executive Vice President and Chief Lending Officer

PAOLI, Pa., April 05, 2017 (GLOBE NEWSWIRE) -- Malvern Bancorp, Inc., (NASDAQ:MLVF) (the “Company”), parent company of Malvern Federal Savings Bank (“Malvern” or the “Bank”), today announced that it has promoted William J. Boylan to Executive Vice President & Chief Lending Officer. Bill, who joined Malvern in August of 2015, heads up the Bank’s operations in New Jersey and oversees all aspects of Malvern’s lending business in Pennsylvania and New Jersey.

“Bill has consistently demonstrated the core values of Malvern since he joined us. As a member of the senior management team, Bill helps to develop and execute the strategic commercial lending activity and associated revenue growth strategies for Malvern. He is a key component and driver in expanding the commercial client platform,” said Anthony C. Weagley, President and CEO of Malvern Bancorp, Inc., and Malvern Federal Savings Bank. “Bill is highly regarded as a lending executive. The Bank continues to expand the Malvern brand along Pennsylvania’s Main Line, Bucks County, PA and in our New Jersey markets.”

“The Morristown office has been overwhelming successful since its opening, attracting new clients in New Jersey and New York City,” Mr. Weagley commented.

Bill commented, “I am extremely excited about the future of Malvern and honored to serve in this executive role with the Company.”

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 Main Line. 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 and through its eight other banking locations in Chester and Delaware counties, Pennsylvania and Morristown, N.J., its New Jersey regional headquarters. Its primary market niche is providing personalized service to its client base. The Bank recently announced a new banking office in Quakertown, Pa., its first office in Bucks County, which is scheduled to open in the second calendar quarter of 2017.

The Bank, through its Private Banking division and strategic partnership with Bell Rock Capital in Rehoboth Beach, 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, family wealth advisory services and philanthropic advisory services. The Bank offers insurance services though Malvern Insurance Associates, LLC, which provides clients a rich array of financial services, including commercial and personal insurance and commercial and personal lending.

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 Investor Relations Contact: Ronald Morales (610) 695-3646 Media Contact: Bronwyn Pait (610) 695-3630

Source:Malvern Bancorp, Inc.