Malvern Federal has reported operating results for the fourth fiscal quarter ended Sept. 30, 2017. Net income amounted to $2.0 million, or $0.30 per fully diluted common share, for the quarter ended Sept. 30, 2017, compared with net income of $8.0 million, or $1.24 per fully diluted common share, for the quarter ended Sept. 30, 2016.
For the 12 months ended Sept 30, 2017, net income amounted to $5.8 million, or $0.90 per fully diluted common share, compared with net income of $12.2 million, or $1.90 per fully diluted common share, for the 12 months ended Sept. 30, 2016.
“Our results for the fourth quarter of fiscal 2017 were strong; top line revenue expanded and, overall, we continued to reflect the forward momentum of the company,” said Anthony C. Weagley, Malvern Federal’s CEO. “Our continued focus on client service continues to aid in gathering customer relationships, fueling the business model focus, and resulting performance. We are excited by the sequential growth and the prospects for continued growth in fiscal 2018.
“Total loans increased $263.8 million, mostly in commercial and industrial and commercial real estate. We remain successful gathering deposits across the franchise as evidenced by the growth in deposits of $188.4 million to $790.4 million at Sept. 30, 2017.”
The Washington Memorial Chapel and The Washington Memorial Heritage are joining forces with the Valley Forge Park Alliance to host a special evening with Lawrence Babits, professor of Maritime Archaeology and History at East Carolina University, as he discusses “Battlefield Tactics in the Revolutionary War” today at 7 PM.
Babits will offer his unique insight into how battles were fought during America’s War for Independence.
The presentation will be held at the chapel, on Route 23 in Valley Forge. Donations of $10 per person are suggested. A complimentary reception will follow the talk.
The Women’s Commission recently donated $500 in bus tokens to the award-winning Women’s Reentry Assessment and Programming Initiative (WRAP), run by the Chester County Department of Probation, Parole, and Pretrial Services.
Established by the Chester County Commissioners more than 20 years ago, the Women’s Commission’s purpose is to provide regular input on the status and needs of women in Chester County.
WRAP is a specialized assessment and supervision unit that focuses on at-risk women who are transitioning from county incarceration or facing technical violations for supervision. It is a proven program, duplicated by other counties in the state, that helps to reduce recidivism and technical violations of community supervision, and that increases the health and well-being of justice-involved women.
Lewis has announced that his second term in office, which will end with the 2017-18 session, will be his final one as a member of the Pennsylvania House of Representatives. His retirement will follow 56 years of public service.
“Because of the citizens of the 74th District, I proudly worked in Harrisburg – despite the inevitable bureaucratic limitations – to represent the wishes of all Coatesville, Downingtown, and Parkesburg residents,” Lewis said. “In times of frustration, when it was a challenge to come to an acceptable resolution, the great people in our communities were my motivation. I thank each resident for their incredible support and encouragement.”
Before beginning his service in the House in 2014, Lewis had a steadfast presence in the local community. During his career as an educator, he worked at Coatesville High School as principal, assistant principal, special education teacher, and physical education teacher.
Longwood is celebrating the holiday season by participating with other organizations in numerous events benefiting members of the community. In conjunction with the Kennett Township Police Department, it will conduct a blood drive with the American Red Cross to be held at the Kennett Township Building on Thursday, Dec. 14 from 2-7 PM. Donors of all blood types are needed to help ensure a sufficient supply for patients.
The two organizations will again join together for two endeavors to help those in need. They are collecting toys to be donated to the children of A.I. du Pont’s Hospital for Children. Donations will be accepted through Dec. 13. They are also collecting warm jackets to help ward off the coming winter chill.
Longwood is also escorting Santa on a company fire truck. Click here for more information.