PAOLI, Pa., Jan. 15, 2019 (GLOBE NEWSWIRE) -- Malvern Bank, National Association (the “Bank” or “Malvern”), the wholly owned subsidiary of Malvern Bancorp, Inc. (MLVF) (the “Company”), announced today that it intends to open a Private Client Representative office in West Chester, Pennsylvania, in February 2019. The new private client office will be located in the Hartshorne Mansion located at 535 N. Church Street, Suite 227.
Mr. Anthony C. Weagley, President and CEO of Malvern Bancorp, Inc. and Malvern Bank, National Association, said, “The new West Chester office is well situated to serve the needs of our growing client base in Chester County, Pennsylvania. In joining our six other private client offices, our new West Chester 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.”
Mark Cohen, Senior Vice President and Private Client Officer, will lead the West Chester office, which will assist high-net worth individuals, families and businesses with their banking and lending needs, focusing on commercial and residential lending, banking services and wealth management. Mark serves on the Board of the Manufacturing Alliance for Chester and Delaware Counties and chairs their Marketing Committee. In addition, Mark serves on the Board of Seedcopa (South Eastern Economic Development Company of Pennsylvania).
Mr. Alexander Opiela III, Senior Vice President and COO of Malvern, stated, “Mark’s a proven leader both within Malvern and Chester County, who is known for being a strong relationship manager and a banker who provides solutions to his clients. Through our strategic partnership with Bell Rock Capital in Rehoboth Beach, Delaware, we bring to West Chester a broad range of products and services, with our overall commitment to ensuring that the service we provide is beyond our clients’ expectations.”
The new Private Client Representative office will offer an array of services including banking, tailored lending, wealth planning, family wealth advisory services and philanthropic advisory services (through the Bank’s partnership with Bell Rock Capital).
About Malvern Bancorp, Inc.
Malvern Bancorp, Inc. is the holding company for Malvern Bank, National Association, a national bank that was originally organized in 1887 as a federally-chartered savings bank. Malvern Bank, National Association now serves as one of the oldest banks headquartered on the Philadelphia Main Line. For more than a century, Malvern Bank has been committed to helping people build prosperous communities as a trusted financial partner, forging lasting relationships through teamwork, respect and integrity.
Malvern Bank conducts business from its headquarters in Paoli, Pennsylvania, a suburb of Philadelphia and through its eight other banking locations in Chester, Delaware and Bucks counties, Pennsylvania, along with its New Jersey Regional Headquarters located in Morristown, New Jersey and a Private Client Office in Palm Beach, Florida. The Bank also operates representative offices in Montchanin, Delaware. Its primary market niche is providing personalized service to its client base.
Malvern Bank, through its Private Client 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. These services include banking, liquidity management, investment services, 401(k) accounts and planning, custody, tailored lending, wealth planning, family wealth advisory services and philanthropic advisory services.
The Bank offers insurance services though Malvern Insurance Associates, LLC, a wholly owned subsidiary, 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 website at http://ir.MalvernBancorp.com. For information regarding Malvern Bank, National Association, please visit our website at http://www.MyMalvernBank.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., changes in federal and state tax laws, and changes in the securities markets. These risks and uncertainties are described in the Company’s filings with the Securities and Exchange Commission, including under the caption “Risk Factors” in the Company’s Annual Report on Form 10-K for the fiscal year ended September 30, 2018. 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.
Joseph D. Gangemi
SVP & CFO