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Press release content from Globe Newswire. The AP news staff was not involved in its creation.

Malvern Bancorp, Inc. Announces Malvern Bank, N.A., Advisory Board for Mainline, Paoli, P.A.

May 13, 2019

PAOLI, Pa., May 13, 2019 (GLOBE NEWSWIRE) -- Malvern Bancorp, Inc. (NASDAQ: MLVF) (the “Company”), parent company of Malvern Bank, National Association (“Malvern” or the “Bank”), today announced the formation of an Advisory Board. The new Advisory Board members include local leaders in business; currently over 15 leaders have been named to Malvern’s new advisory board. The diverse group of attorneys, accountants, business entrepreneurs and more met on March 20, 2019, to begin discussing the Board’s mission: how to enhance visibility and grow Malvern’s already well-established role as a premier Pennsylvania Banking Company and leading business and community partner.

Discussing the Board’s mission: how to enhance and grow Malvern’s established role as a leading business and community partner, Anthony C. Weagley, Chief Executive Officer and President of Malvern Bank, National Association and Malvern Bancorp, Inc., convened the Advisory Board to solicit input from leaders representing many areas of business on an ongoing basis, and to help broaden Malvern’s market share in Pennsylvania through exposure in the Mainline suburb of Philadelphia metropolitan markets and the Southern Chester County/Wilmington Delaware area. “For almost 132 years,” says Mr. Weagley, “Malvern has been one of the state’s best kept secrets in Banking and has specialized in providing customized financial services for owners of small and mid-sized businesses. We have been successful in this respect by establishing long-term, multi-faceted relationships with our customers, and by responding to their needs. As the Bank grows and continues to reshape its customer base toward lending, we want to ensure that we continue to receive this valuable feedback from our customers and increase our visibility in the markets.”

Members of the Advisory Board include:

Mike Buongiorno Colonel John C. Church, Jr. USMCR (Ret) EVP and CFO, Main Line Health Asst. Principal of Bishop McDevitt High School Samuel Griffin David Harmer President, Ryerss Farm President & CEO of Freedoms Foundation Barbara Kraus-Blackney Laura Kuntz President of Association of Delaware Valley Independent Schools Attorney, Retired (ADVIS) Crystal Lentelle Dr. James K. Miller VP – Delaware Depository Entrepreneur Professor of Finance and Economics Rich Nourie Duncan Patterson Head of School, Abington Friends School President of Patterson-Woods Edward Reitmeyer William Rinaldi Regional Partner-in-Charge, Tax & Business Services Northeast Marcellus Aqua Midstream Marcum LLP Kristy Vanderwende-Smith Brock Vinton Entrepreneur President & CEO, The Commonwealth Group, LLC Karen Walter Kurt Wolter Executive Director of Historic Yellow Springs Kurt Wolter Builders R. Craig Rosenfeld Entrepreneur Former Dealer Principal, VISION Porsche Audi Volkswagen

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 nine other banking locations in Chester, Delaware and Bucks counties, Pennsylvania, Palm Beach, Florida, and Morristown, New Jersey, its New Jersey regional headquarters. The Bank also operates a representative office in Montchanin, Delaware and recently announced a new Private Banking Office in West Chester Pennsylvania. Its primary market niche is providing personalized service to its client base.

Malvern Bank, through its Private Banking 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, 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.malvernbancorp.com. For information regarding Malvern Bank, National Association, please visit our web site at http://www.mymalvernbank.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, as well as other risk factors identified in the Company’s Annual Report on Form 10-K and other reports filed by the Company with the SEC. 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