Malvern Federal Savings Bank is headquartered in Paoli and is the 64th largest bank in the state of Pennsylvania. It is also the 1,125th largest bank in the nation. It was established in 1887 and as of September of 2013, it had grown to 111 employees at 8 locations. Malvern Federal Savings Bank has a B health rating.
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Avoid Malvern Federal Bank In PA
Be aware of this bank. I deposited $200 in 2009 at this bank. And I never touched the account. Today I found out I only have $60 in the account. It turns out that they changed my account type without my consent and then start charging $10 a month "maintenance fee" for doing nothing on the account since 2011 and now they stole $140 from me just like that.
If you want to lose money while you put money in a bank, this is the bank can make this happen.
Awful bank, sneaking practice, and bad customer service all in one bank "Malvern Federal".
Definately A Bait And Switch Rate Bank; Website Is Horrid; Service Sucks; Holding
My wife and I thought we'd give a local bank a chance when looking for HELOC. For years, we haven't had any brick-and-mortar / paper checking; we're both very happy ING Direct Electric Orange customers. Needless to say, we haven't missed the nonsense of having to pay a bank to hold our money or the nickel and dime fees associated. But we wanted a HELOC for home improvements, and Malvern Federal Savings seemed to have the best rates.
We opened the HELOC in April 2012, only after being promised that the 6 month teaser rate of prime -1% wouldn't start until our first withdrawal on the line. Complete LIE and breech of contract. We just withdrew for the first time 3 weeks ago in September, and surprise, surpise, the rate will go up 1% next month. On top of that, the rate will go up another 1% if we don't use their checking account to make the payments; necessitating the rediculous "double hop" transfer: ING -> Malvern Checking -> Malvern HELOC. Yeah, all that so that Malvern can enjoy having $315 extra in their reserves for 2 days out of the month, brillant.
Stay far, far away. We'll be closing the whole mess, both accounts, shortly, and seeking a lender who doesn't belong on the top of the list of deceptive, swindling banks...
So Outdated Bank, Good For 1900'S, Not Nowdays.
Very old bank, you can't get hold of anyone after hours. They charge you for everything, even getting a copy of your statement. You better off with any REAL bank, not this mickey mouse bank.
POOR Customer Service And Classic Bait & Switch Rates!
This bank is trying to expand...at the expense of customer service.
They offered a 2.%Money Market Account up until October 9, 2010--their Grand Opening!
When I went into their new bank on October 7th, I was informed that they no longer offer the 2.0%--we are coming out with a new rate...tomarrow. When I asked to see the manager--she was no help. I wrote a letter to the Bank President to get an explanation---no reply....NIce Customer Service.
I have a relative who did get the 2.0% Money Market Rate--he tells me the monthly statements do not include the earned interest in his balance--sloppy book work on the banks part.
I would STAY FAR AWAY FROM THIS BANK!!!
Data for Q3 2013
Institution Health
Texas Ratio
The Texas Ratio is an indicator of how much funds a bank has available compared to the total value of loans considered at risk. As of September 30, 2013 Malvern Federal Savings Bank had $11.7 million in non-current loans and owned real-estate with $67.39 million in equity and loan loss allowances on hand to cover it. This gives Malvern Federal Savings Bank a Texas Ratio of 17.36% which is above average. Any bank with a Texas Ratio near or greater than 100% is considered at risk.
Texas Ratio Trend
The Texas Ratio for Malvern Federal Savings Bank decreased slightly from 21.61% as of September 30, 2012 to 17.36% as of September 30, 2013, resulting in a positive change of 19.66%.This indicates that the balance sheet and financial strength for Malvern Federal Savings Bank has improved slightly in recent periods.
Deposit Growth
In the past year, Malvern Federal Savings Bank has decreased its total deposits by -$55.22 million, resulting in -10.18% growth for the year. A strong track record of growth is an indicator of consumer confidence and the bank's ability to strengthen its balance sheet. The growth Malvern Federal Savings Bank has shown is poor.
Capitalization
Both FDIC and NCUA consider capitalization levels of banks and credit unions to be of high importance. Higher capitalization allows for a greater buffer when cover loans that may fail in the future. Malvern Federal Savings Bank has $591.85 million in assets with $67.39 million in equity, resulting in a capitalization level of 11.39%, which is excellent.
Institution Statistics
| Overall | |
|---|---|
| FDIC Certificate # | 27861 |
| Year Established | 1887 |
| Employees | 111 |
| Primary Regulator | OCC |
| Assets and Liabilities | |
|---|---|
| Assets | $591.85 million |
| Loans | $412.34 million |
| Deposits | $487.09 million |
| Equity Capital | $62.30 million |
| Loan Loss Allowance | $5.09 million |
| Unbacked Noncurrent Loans | $7.74 million |
| Real Estate Owned | $3.96 million |
| Historic Data - September 2012 | |
|---|---|
| Assets | $710.44 million |
| Equity Capital | $58.80 million |
| Loan Loss Allowance | $7.58 million |
| Unbacked Noncurrent Loans | $7.74 million |
| Real Estate Owned | $4.59 million |
| Profit Margin - Quarterly | |
|---|---|
| Net Interest Margin | 2.48% |
| Return on Assets | -3.96% |
| Return on Equity | -33.06% |
| Interest Income | $16.27 million |
Always verify rates and promotions with the bank or credit union. We are not Malvern Federal Savings Bank, we are a rate comparison website and can not provide official rates or promotions.
Malvern Federal Savings Bank Savings Account Rates
| Details | APY | MIN | MAX | PRODUCT |
|---|---|---|---|---|
| 0.05% | - | - | Malvern Youth Savings | |
| 0.05% | $200 | - | Statement Savings |
Malvern Federal Savings Bank Money Market Rates
| Details | APY | MIN | MAX | PRODUCT |
|---|---|---|---|---|
| 0.30% | $100k | - | Star Money Market | |
| 0.30% | $100k | - | Business Star Money Market |
Malvern Federal Savings Bank Checking Account Rates
| Details | APY | MIN | MAX | PRODUCT |
|---|---|---|---|---|
| 0.20% | $100k | - | Premier Rewards Checking |
Malvern Federal Savings Bank CD Rates
| Details | APY | MIN | MAX | PRODUCT |
|---|---|---|---|---|
| 0.75% | $500 | - | 60 Month CD | |
| 0.75% | $500 | - | 84 Month CD | |
| 0.75% | $500 | - | Business 60 Month CD | |
| 0.75% | $500 | - | Business 84 Month CD | |
| 0.60% | $200k | - | 14 Month CD Special | |
| 0.60% | $200k | - | Business 14 Month CD Special | |
| 0.35% | $500 | - | 36 Month CD | |
| 0.35% | $500 | - | Business 36 Month CD | |
| 0.25% | $500 | - | 24 Month CD | |
| 0.25% | $500 | - | Business 24 Month CD | |
| 0.15% | $500 | - | 12 Month CD | |
| 0.15% | $500 | - | 18 Month CD | |
| 0.15% | $500 | - | Business 12 Month CD | |
| 0.15% | $500 | - | Business 18 Month CD | |
| 0.10% | $1k | - | 6 Month CD | |
| 0.10% | $1k | - | Business 6 Month CD | |
| 0.05% | $1k | - | 3 Month CD | |
| 0.05% | $1k | - | Business 3 Month CD |
Malvern Federal Savings Bank IRA Rates
| Details | APY | MIN | MAX | PRODUCT |
|---|---|---|---|---|
| 0.75% | $500 | - | 60 Month IRA | |
| 0.75% | $500 | - | 84 Month IRA | |
| 0.75% | $500 | - | 60 Month Roth IRA | |
| 0.75% | $500 | - | 84 Month Roth IRA | |
| 0.75% | $500 | - | 60 Month CESA | |
| 0.75% | $500 | - | 84 Month CESA | |
| 0.35% | $500 | - | 36 Month IRA | |
| 0.35% | $500 | - | 36 Month Roth IRA | |
| 0.35% | $500 | - | 36 Month CESA | |
| 0.25% | $500 | - | 24 Month IRA | |
| 0.25% | $500 | - | 24 Month Roth IRA | |
| 0.25% | $500 | - | 24 Month CESA | |
| 0.15% | $500 | - | 12 Month IRA | |
| 0.15% | $500 | - | 18 Month IRA | |
| 0.15% | $500 | - | 12 Month Roth IRA | |
| 0.15% | $500 | - | 18 Month Roth IRA | |
| 0.15% | $500 | - | 12 Month CESA | |
| 0.15% | $500 | - | 18 Month CESA |
| Malvern Federal Savings Bank Locations | ||
|---|---|---|
| West Chester Branch | 100 Skiles Blvd | West Chester, PA 19382 |
| 100 West King Street Branch | 100 West King Street | Malvern, PA 19355 |
| Rt 23 & 100 Branch | 1000 Ridge Road | Pottstown, PA 19465 |
| Pottstown Pike Branch | 109 North Pottstown Pike | Exton, PA 19341 |
| Malvern Federal Savings Bank | 42 East Lancaster Avenue | Paoli, PA 19301 |
| West Uwchlan Avenue Branch | 537 West Uwchlan Avenue | Downingtown, PA 19335 |
| Lancaster Ave Branch | 650 Lancaster Ave | Berwyn, PA 19312 |
| Concordville Branch | 940 Baltimore Pike | Glen Mills, PA 19342 |