Malvern Bank (PA) is headquartered in Paoli and is the 46th largest bank in the state of Pennsylvania. It is also the 956th largest bank in the nation. It was established in 1887 and as of June of 2022, it had grown to 76 employees at 9 locations. Malvern Bank (PA)'s CD rates are 5X the national average, and it has a B+ health rating.
It’s great to deal with people and not need to deal with robots. Overall the staff seem friendly and knowledgeable.
They have great rates on deposits and also loans.
By chance I came across these other reviews of the Malvern Bank, and I was not at all surprised. I have not done business with any bank as horrendous as this one. Forget about contacting Bank President by letter, etc. - all correspondence ignored. Staff in local branches not knowledgeable; wait times, horrendous, customer service non-existent. If you are foolish enough not to believe everything that has been written here, go and find out for yourself. I have a feeling you might just want to add another negative review to the growing list here.
Tried to take my minimum distribution from an inherited IRA. Took 2 trips to bank, 2 phone calls and they still got it wrong. Issued an incorrect 2099R. Very frustrating. Woman I dealt with knew less than me and I don't work for a bank. They are going to lose me as a customer as I am withdrawing my money.
This is the worst bank by far. I called for a payoff on my 2nd mortgage i had to jump through hoops to get it. They refused to give it to me. I had to wait to receive it in the mail. Than after i received it my wife went to pay it and they would not accept payment from her because she wasn't on the account, REALLY. UNBELIEVABLE. The tellers at the Paoli branch should all be fired. Be warned, Stay far away from this bank
Overall | |
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FDIC Certificate # | 27861 |
Year Established | 1887 |
Employees | 76 |
Primary Regulator | OCC |
Profit Margin | |
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Return on Assets - YTD | 0.54% |
Return on Equity - YTD | 3.69% |
Annual Interest Income | $16.9MM |
Assets and Liabilities | ||
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Assets | Q2 2022vs Q2 2021 | $1.03B$1.18B |
Loans | Q2 2022vs Q2 2021 | $819.8MM$940.7MM |
Deposits | Q2 2022vs Q2 2021 | $799.9MM$917.8MM |
Equity Capital | Q2 2022vs Q2 2021 | $161.6MM$163.2MM |
Loan Loss Allowance | Q2 2022vs Q2 2021 | $9.3MM$11.6MM |
Unbacked Noncurrent Loans | Q2 2022vs Q2 2021 | $14.7MM$23.8MM |
Real Estate Owned | Q2 2022vs Q2 2021 | $4.8MM$5.0MM |
Always verify rates and promotions with the bank or credit union. We are not Malvern Bank (PA); we are a rate comparison website and cannot provide official rates or promotions.
* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.
APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS |
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3.75% | $500 | - | 24 Month IRA | |
3.50% | $500 | - | 18 Month IRA | |
3.25% | $500 | - | 12 Month IRA | |
3.00% | $500 | - | 36 Month IRA | |
2.75% | $500 | - | 60 Month IRA | |
2.75% | $500 | - | 48 Month IRA |
Malvern Bank (PA) Locations | ||
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100 West King Street Branch | 100 West King Street | Malvern, PA 19355 |
Rt 23 & 100 Branch | 1000 Ridge Road | Pottstown, PA 19465 |
Malvern Federal Savings Bank | 42 E Lancaster Ave | Paoli, PA 19301 |
West Uwchlan Avenue Branch | 537 West Uwchlan Avenue | Downingtown, PA 19335 |
Lancaster Ave Branch | 650 Lancaster Ave | Berwyn, PA 19312 |