Banking & Finance
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Malvern Bancorp Announces New Hires for Private Banking
Malvern Bancorp – the parent company of Malvern Bank, National Association – has appointed several new executives to its private banking team. George Trapnell has joined the bank as Senior Vice President, Private Banker, in its Montchanin, Del., and Palm Beach, Fla., Private Client representative offices. These offices offer a wide range of Private Client,…
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Applications Now Being Accepted for Scholarships from FMFCU in Honor of Longtime CEO
Applications are now being accepted for the 2019 John D. Unangst Memorial Scholarship, awarded by Franklin Mint Federal Credit Union Foundation. Eligible high school seniors can apply for one of five $3,000 awards by clicking here. The annual scholarship was established in honor of Franklin Mint Federal Credit Union’s first and longtime President/CEO John D.…
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Malvern Bank ‘Grows It Forward’ for the Benefit of the Chester County Food Bank
Over the last five years, Malvern Bank, National Association’s Coventry Financial Center has seen peppers, tomatoes, and kale grow along with its investments and assets. The Coventry Branch Garden Project is just one more way that Malvern Bank gives back to the communities it serves. “Back in 2013, we came up with the idea of…
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Quarterly Results a Testament to How Malvern Bancorp ‘Goes Beyond Client Expectations’
Malvern Bancorp – parent company of Malvern Bank, National Association – has reported operating results for the third fiscal quarter ended June 30, 2018. Net income amounted to $2.2 million or $0.35 per fully diluted common share, for the quarter ended June 30, 2018, an increase of $0.5 million, or 30.5 percent, as compared with…
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DNB First Reports Quarterly Results as Its Core Businesses ‘Continued to Perform Well’
DNB Financial Corporation reported net income of $2.0 million, or $0.47 per diluted share, for the quarter ending June 30, 2018, compared with $2.3 million, or $0.53 per diluted share, for the same quarter last year. For the six months ending June 30, 2018, the company reported net income of $4.7 million, or $1.08 per…
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Malvern Bank, National Association Launches New Automated Investment Service
Malvern Bank, National Association has launched 200Deep.com, a new automated investment service, in partnership with Bell Rock Capital. The folks at the Paoli-based bank and the Delaware-based investment advisor have discovered automated investing was a way for them to help investors leverage their 200-plus years of experience in a way that’s cost effective. “200Deep takes…
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DNB First Increases CD Rates to Meet ‘Needs, Investment Horizon of Every Saver’
DNB First has responded to the Federal Reserve’s recent increase in interest rates by offering its customers the most for their money in almost a decade, writes Joseph DiStefano for The Philadelphia Inquirer. The bank posted new rates for certificates of deposit, including 2.35 percent for one-year CDs, 2.50 percent for 18 months and 2.60…
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Delco Chamber of Commerce to Celebrate Former CEO of FMFCU with Lifetime Achievement Award
The Delaware County Chamber of Commerce will honor John Unangst with its 2018 Lifetime Achievement Award on Wednesday, June 20 at its Annual Membership Luncheon at the Springfield Country Club. Unangst, who died in January at the age of 71, led the growth of Franklin Mint Federal Credit Union from one branch with less than…
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Malvern Bank, National Association Honors Narberth Ambulance in Celebration of EMS Week
In celebration of National EMS Week, representatives of Malvern Bank, National Association visited Narberth Ambulance on Monday with boxes of donuts to show appreciation for the myriad services its volunteers provide the community. Comprised of more than 80 members who volunteer their time, Narberth Ambulance is a nonprofit that provides 24/7 service to more than…
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Malvern Bank, National Association Surprises Local Educators for Teacher Appreciation Week
Representatives from Malvern Bank, National Association’s Paoli office surprised staff at area independent schools with delicious donuts for Teacher Appreciation Week. Vice President John M. Lyons brought sugary smiles to various schools on the Main Line, including the Timothy School of Berwyn, on Friday, May 11. Under the leadership of President and CEO Anthony C.…
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Malvern Bancorp’s Second Fiscal Quarter Results Possess ‘Fundamental Strength’
Malvern Bank, National Association has reported operating results for the second fiscal quarter ended March 31, 2018. Net income amounted to $2.0 million or $0.31 per fully diluted common share, for the quarter ended March 31, 2018, an increase of $0.8 million, or 72.5 percent, as compared with net income of $1.2 million, or $0.18…
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DNB First’s First-Quarter Results ‘Represent a Good Start to the New Year’
DNB First – one of the first nationally-chartered community banks to serve the Greater Philadelphia region – has reported net income of $2.6 million, or $0.61 per diluted share, for the quarter ended March 31, 2018, compared with $2.4 million, or $0.57 per diluted share, for the same quarter last year. “Our first-quarter results represented…
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Franklin Mint Federal Credit Union Announces New CEO
Franklin Mint Federal Credit Union has named Michael Magnavita its new CEO. Magnavita has served as executive vice president and chief financial officer at FMFCU, which last year moved its headquarters from Broomall to Chadds Ford, since 1993. He started his FMFCU career in 1987 as assistant vice president and controller. “The board of directors…
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Looking to Do Your Own Federal, State Income Taxes? Try TurboTax
If you are planning to face the tax season on your own, TurboTax and its Deluxe edition are the best tax software options available, write Mark Smirniotis and Kevin Purdy for The Wirecutter. TurboTax has been The Wirecutter’s top pick of tax software for five years in a row. It is as close as you…
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Radnor-Based Lincoln Financial Salutes Super Bowl Champions
The Radnor-based Lincoln Financial Group recently saluted the Philadelphia Eagles for winning Super Bowl LII in Minneapolis. Since the 2003 season, Lincoln has been the sponsor of Lincoln Financial Field – home of the Super Bowl champion Eagles. “Like all their fans, Lincoln Financial applauds the Eagles’ players, coaches, and staff for a well-deserved and…
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Malvern Federal Reports Quarterly Results, Is ‘Well-Positioned to Advance in 2018’
Malvern Federal has reported operating results for the first fiscal quarter ended Dec. 31, 2017. Net income amounted to $403,000 or $0.06 per fully diluted common share, for the quarter ended Dec. 31, 2017, a decrease of $570,000, or 58.6 percent, as compared with net income of $973,000, or $0.15 per fully diluted common share,…
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Franklin Mint Federal Credit Union CEO Dies at 71
Kennett Square resident John Unangst, the President and CEO of Franklin Mint Federal Credit Union, has died at the age of 71. “The board of directors, management team, and employees are extremely saddened by this unexpected news,” said Patrick Killian, Commerce Director of Delaware County and FMFCU’s chairman of the board. “His exemplary leadership, unwavering…
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Malvern Federal to Host Week-Long Meet & Mingle
Malvern Federal’s financial centers will host a week-long Meet & Mingle – from Monday, Jan. 22 to Saturday, Jan. 27 – with refreshments provided to introduce the managers of each location. In a dynamic industry like financial services, staff turnover is not uncommon. However, Malvern Federal knows that means it has to work harder than…
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