PAOLI, Pa., Aug. 29, 2017 (GLOBE NEWSWIRE) -- Malvern Federal Savings Bank (the “Bank”, "Malvern"), the wholly owned subsidiary of Malvern Bancorp, Inc. (NASDAQ:MLVF), today announced the appointment of Andrea Cho as Senior Vice President, Private Banking of Malvern. The Bank also announced that it intends to open a Private Banking office in Montchanin, DE in September 2017. The new private banking office will be located at 10 W. Rockland Road.
According to Anthony C. Weagley, President and CEO of Malvern Bancorp, Inc. and Malvern Federal Savings Bank, “The new Montchanin office will be less than four miles from the Pennsylvania border, so it is well situated to serve the needs of our growing client base in southern Chester County, Pennsylvania, and northern Delaware. Like our five other private banking offices, our new Montchanin office will 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.”
The new private banking office will be located in Bell Rock Capital’s Montchanin Office, in a historic train station at the center of Montchanin. The community was named for Anne Alexandrine de Montchanin, mother of Pierre Samuel du Pont de Nemours, grandmother of the founder of the DuPont Gunpowder Company and once part of the Winterthur Estate.
Malvern’s commercial, regional private clients group and wealth management lines of business, through its partnership with Bell Rock Capital, are now provided through expanded geographic locations. The new office will be Malvern’s sixth Private Banking office. The others are in Villanova, Glen Mills and Quakertown, PA., Morristown, NJ, and Palm Beach, FL.
Cho will lead Malvern’s Private Banking division, which assists high-net-worth individuals, families and businesses with wealth management, commercial and residential lending. She will operate out of the Bank’s Villanova office. Prior to joining Malvern she served in wealth management and private banking executive management positions at Bank of America, Morgan Stanley, U.S. Trust Bank of America and Bank of America Merrill Lynch. She has served her community as a member of the Board of Trustees for the Philadelphia Bar Foundation, a committee member of the Philadelphia Korean Community Center and member of the Women’s Way grant committee.
“With the addition of our Private Banking professional staff, Malvern is continually responding to our clients’ private banking and wealth management needs,” said Alexander Opiela, Senior Vice President & COO of Malvern. “Through our strategic partnership with Bell Rock Capital in Rehoboth Beach, Delaware, we provide a broad range of products and services, and we are committed to ensuring that the service we provide is beyond our clients’ expectations.”
The new Private Banking office in Montchanin will offer an array of services including 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 office will be staffed by a registered investment advisor (through the Bank’s partnership with Bell Rock Capital), and retail and private banking professionals with years of financial services experience.
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 nine other banking locations in Chester, Delaware and Bucks counties, Pennsylvania and Morristown, N.J., its New Jersey regional headquarters. The Bank also recently announced a new representative office in Palm Beach, Florida. 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 in Rehoboth Beach, DE, provides personalized wealth management and advisory services to high-net-worth individuals and families. Bell Rock Capital’s 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.
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
Source:Malvern Bancorp, Inc.