Website: N/A
Stock Symbol: NASDAQ: MLVF
Market Value: N/A (in millions)
On May 19, 2008, Malvern Federal Savings Bank (“Malvern Federal Savings” or the
“Bank”) completed its reorganization to the mutual holding company form of
organization and formed Malvern Federal Bancorp, Inc. (the “Company”) to serve
as the stock holding company for the Bank. In connection with the
reorganization, the Company sold 2,645,575 shares of its common stock to certain
members of the Bank and the public at a purchase price of $10.00 per share. In
addition, the Company issued 3,383,875 shares, or 55% of the outstanding shares,
of its common stock to Malvern Federal Mutual Holding Company, a federally
chartered mutual holding company (the “Mutual Holding Company”), and contributed
123,050 shares (with a value of $1.2 million), or 2.0% of the outstanding
shares, to the Malvern Federal Charitable Foundation, a newly created Delaware
charitable foundation.