Malvern Bancorp’s application to convert from a federal savings bank charter to a national bank charter has been approved, and as a result, Malvern Federal Savings Bank will now be known as Malvern Bank, National Association, writes Jeff Blumenthal for the Philadelphia Business Journal.
“We believe that our conversion to a national bank charter will better align with our current business plan, model, and strategy,” said Malvern Bank CEO Anthony Weagley. “This conversion provides us the flexibility we need, but also keeps our name in line with our 131-year company legacy.”
The Paoli-based bank will reintroduce its brand in advertising, marketing materials, and branch signage, but its tagline – “Beyond Your Expectations” – will remain.
Since becoming CEO in 2015, Weagley has helped Malvern expand its private banking footprint by opening locations in North Jersey and Florida and enhancing its focus on equestrian clientele.
Click here to read more about Malvern Bank in the Philadelphia Business Journal.