Malvern Bancorp, Inc. operates as the holding company for Malvern Federal Savings Bank that provides various banking products and services to consumer and business customers in Pennsylvania. The company was founded in 1887 and is based in Paoli, Pennsylvania.
Malvern Bancorp, Inc. (MLVF) (the “Company”), parent company of Malvern Bank, National Association (“Malvern” or the “Bank”), today announced that its board of directors has extended the timeframe for its current stock repurchase program, previously announced on March 14, 2019, from March 31, 2020 to December 31, 2020. When the current program was previously announced, the Company planned to repurchase up to 194,516 shares, or approximately 2.5% of the current outstanding common stock. To date, the Company has repurchased 16,863 of these shares at an average cost of $19.95 per share, leaving 177,653 shares, or approximately 2.3% of the current outstanding stock, still available for repurchase.