SHAREHOLDER NOTICE: Brodsky & Smith Announces an Investigation of Malvern Bancorp, Inc. (Nasdaq – MLVF)

BALA CYNWYD – December 14, 2022 /News File/ – Law office of Brodsky & Smith announces that it is investigating potential claims against the Board of Directors of Malvern Bancorp, Inc. (“Malvern Bancorp” or the “Company”) (Nasdaq – MLVF) for possible breaches of fiduciary duty and other violations of federal and state law in connection with the Company’s agreement to be acquired by First Bank (Nasdaq – FRBA). Under the terms of the Merger Agreement, Malvern Bancorp shareholders will receive 0.7733 shares of First Bank common stock and $7.80 in cash per Malvern Bancorp common share outstanding. Based upon First Bank’s December 13, 2022 closing price of $15.31 per share, the transaction is valued at approximately $149.5 million in aggregate deal value.

The investigation concerns whether the Malvern Bancorp Board breached its fiduciary duties to shareholders by failing to conduct a fair process, and whether First Bank is paying too little for the Company.

If you own shares of Malvern Bancorp stock and wish to discuss the legal ramifications of the investigation, or have any questions, you may e-mail or call the law office of Brodsky & Smith who will, without obligation or cost to you, attempt to answer your questions. You may contact Jason L. Brodsky, Esquire, or Marc L. Ackerman, Esquire at Brodsky & Smith, Two Bala Plaza, Suite 805, Bala Cynwyd, PA 19004, or call toll free 855-576-4847.

Brodsky & Smith is a litigation law firm with extensive expertise representing shareholders throughout the nation in securities and class action lawsuits. The attorneys at Brodsky & Smith have been appointed by numerous courts throughout the country to serve as lead counsel in class actions and have successfully recovered millions of dollars for our clients and shareholders. Attorney advertising. Prior results do not guarantee a similar outcome.