Malvern Bancorp, Inc., Announces Hire for New General Counsel and Senior Management Position

PAOLI, Pa., Sept. 27, 2017 -- Malvern Bancorp, Inc. (NASDAQ:MLVF) (the "Company"), parent company of Malvern Federal Savings Bank (“Malvern” or the “Bank”), announced the appointment of Rona E. Korman as Senior Vice President and General Counsel of the Bank. Rona will bring to Malvern a wide range of experience in corporate and banking law, lending, workout and corporate governance. “Ms. Korman has a strong background on all legal affairs including real estate, corporate, employment, insurance, construction, advertising, and litigation. We are thrilled to bring her on to our team at this time. She has been providing legal expertise to Malvern over the last several years and is already familiar with our organization and many of our team members,” commented Anthony C. Weagley, President and CEO.

Rona E. Korman of West Orange NJ, is the former General Counsel and Chief Risk Officer of Center Bancorp, Inc.; a position she held for a number of years. Prior to that she was General Counsel for Big M, Inc.; a position she held for 20 years. Most recently Rona has been in private practice representing financial institutions, real estate developers and retail companies.  Rona graduated Cum Laude from Moravian College in Bethlehem, Pennsylvania where she earned a Bachelor of Arts degree and earned a J.D. from Rutgers University, School of Law in Newark, New Jersey. She is admitted to the New Jersey Bar.

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 company also recently announced new representative offices in Palm Beach, Florida and Montchanin, DE. 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.

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
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(610) 695-3676

Investor Contact:
Ronald Morales
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