Results for the quarter ended December 31, 2015 were favorably impacted by the tax position of the Company prior to the full recognition of the Banks deferred tax asset as of September 30, 2016. On a fully taxable basis, net income for the quarter ended December 31, 2015 would have been $1.1 million, and earnings per share for the quarter ended December 31, 2015 would have been $0.17. Thanks to the consistent effort of our talented management team across the organization, the Company produced another quarter of profitability driven by asset deployment of new site link loans, commented President & CEO, Anthony C Weagley. The Bank is creating value from the benefits resulting from all the hard work from the past, he added. Were improving in nearly every measure of profitability and asset quality. We have tremendous momentum. Joe Gangemi, Chief Financial Officer of Malvern Bancorp, Inc. added, "In addition to our focus on revenue growth, the Company remains committed to the disciplined management of operating expenses, continued resolution of legacy special assets, prudent underwriting of new loans, and conservative asset liability management.

http://www.cnbc.com/2017/01/25/globe-newswire-malvern-bancorp-inc-reports-first-fiscal-quarter-earnings-momentum-carries-malvern-to-net-profit-of-12-million-or-018-per.html

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