Malvern Federal Bancorp, Inc. is a federally chartered corporation, which operates through its subsidiary, Malvern Federal Savings Bank (the Bank) a federally chartered savings bank. The Bank is primarily engaged in attracting deposits from the general public and using those funds to invest in loans and investment securities. The Bank’s principal sources of funds are deposits, repayments of loans and investment securities, maturities of investments and interest-bearing deposits, other funds provided from operations and wholesale funds borrowed from outside sources, such as the Federal Home Loan Bank (FHLB) of Pittsburgh. These funds are primarily used for the origination of various loan types including single-family residential mortgage loans, commercial real estate mortgage loans, construction and development loans, home equity loans and lines of credit and other consumer loans. The Bank derives its income principally from interest earned on loans and investment securities.