Press Release

Malvern Bancorp, Inc Announces Key Executive Promotions

Company Release - 12/23/2019 9:30 AM ET

PAOLI, Pa., Dec. 23, 2019 (GLOBE NEWSWIRE) -- Malvern Bancorp, Inc. (NASDAQ: MLVF) (the "Company"), parent company of Malvern Bank, National Association (“Malvern” or the “Bank”), today announced the promotions of two current leaders to the position of Executive Vice President of both the Company and the Bank. 

Joseph D. Gangemi, who held the title of Senior Vice President, Chief Financial Officer & Corporate Secretary, was named Executive Vice President.  Mr. Gangemi will continue his role as Chief Financial Officer & Corporate Secretary.

William “Bill” Woolworth, who held the title of Senior Vice President & Chief Risk Officer, was named Executive Vice President.  Mr. Woolworth will continue his role as Chief Risk Officer. 

"It is with immense pleasure I announce the promotion of these key team members who play an integral role in shaping Malvern Bank’s strategy and performance," stated Anthony C. Weagley, Chief Executive Officer and President.  “The promotions announced today will allow the Company to better position itself for continued strategic growth, higher level of enterprise risk management and internal controls," said Mr. Weagley.

About Malvern Bancorp, Inc.

Malvern Bancorp, Inc. is the holding company for Malvern Bank, National Association, an institution 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 twelve other banking locations in Chester, Delaware and Bucks counties, Pennsylvania, Morristown, New Jersey, its New Jersey regional headquarters, Palm Beach, Florida, and Montchanin, Delaware. The Bank also maintains representative offices in Wellington, Florida and Allentown, Pennsylvania.  Its primary market niche is providing personalized service to its client base.  

Malvern Bank, through its Private Banking division and a 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, trust and fiduciary services, family wealth advisory services and philanthropic advisory services. Malvern 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.malvernbancorp.com. For information regarding Malvern Bank, National Association, please visit our web site at http://www.mymalvernbank.com.

Investor Contacts:
Joseph D. Gangemi
Corporate Investor Relations
610-695-3676

Investor Relations Contact:
Ronald Morales
610-695-3646

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Source: Malvern Bancorp, Inc.