Malvern Federal Savings Fills Three Key Executive Positions

PAOLI, Pa., Jan. 13, 2016 (GLOBE NEWSWIRE) -- Malvern Federal Savings Bank, the wholly owned subsidiary of Malvern Bancorp, Inc. (NASDAQ:MLVF), today announced the appointments of three experienced banking executives to key lending and business development positions. Mark Cohen was appointed Senior Vice President, Senior Commercial Lender; James Czuba was named Vice President, Director of Residential & Consumer Lending; and Ann Foanio was appointed Assistant Vice President, Business Development Officer.

“Mark, James and Ann bring outstanding banking experience to Malvern Federal, and our customers will benefit from their knowledge and commitment to personal service,” said Anthony Weagley, President and CEO of Malvern Bancorp, Inc., and Malvern Federal Savings Bank. “We continue to grow the Bank by hiring exceptional local and regional talent.”

As senior commercial lender, Cohen is responsible for developing and growing Malvern Federal’s commercial banking portfolio in southeastern Pennsylvania. Prior to joining Malvern Federal, he was vice president and senior relationship manager, commercial banking group, for Susquehanna Bancshares in West Chester, Pa. He also previously served as vice president, relationship manager; commercial banking group at Sovereign Bank, now Santander Bank, N.A. in Villanova, Pa., and Citibank, N.A. in Berwyn, Pa. Cohen serves on the board of the Manufacturing Alliance of Chester and Delaware Counties and chairs the organization’s marketing committee.

As Director of Residential & Consumer lending, Czuba is responsible for operational and credit risk policies for Malvern Federal’s residential and consumer lending. He will operate out of the Bank’s Pine Brook, N.J. office. Prior to joining Malvern Federal, Czuba was vice president, residential & consumer loans at ConnectOne Bank and its predecessor bank, Union Center National Bank. He also has previous banking experience in bank operations, compliance, risk management and business development. Czuba is a Federal Housing Administration direct endorsement underwriter.

In her role as business development officer, Foanio is responsible for growing Malvern Federal’s consumer and business banking portfolio. Prior to joining the Bank, Foanio was relationship manager for Conestoga Bank in Chester Springs, Pa. She also previously served in management positions at DNB First and First National Bank of Chester County, both in Downingtown, Pa.

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 Federal 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. Its primary market niche is providing personalized service to its client base. The Bank focuses its lending activities on retail clients, commercial lending to small and medium-sized businesses, real estate developers and high net worth individuals.

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.

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