Malvern Bancorp, Inc. Announces Impairment Charges for the Quarter Ended March 31, 2022

Malvern Bancorp, Inc. is the holding company for Malvern Bank (the Bank). The Bank is a federally chartered savings bank. Its primary business is the ownership and operations of the Bank. The Bank's principal business consists of accepting deposits from businesses and the public and investing those deposits, together with borrowings and funds generated from operations, in commercial and multi-family real estate loans, one- to four-family residential real estate loans, construction and development loans, commercial business loans, home equity loans and lines of credit and other consumer loans. The Bank's primary sources of funds are deposits, borrowings and principal and interest payments on loans and securities, as well as the sale of residential loans in the secondary market. The Company also invest in and maintain a portfolio of investment securities, primarily consists of corporate bonds, mortgage-backed securities, United States (U.S) agency and municipal obligations.