Malvern Bank (PA) is headquartered in PAOLI and is the 45th largest bank in the state of Pennsylvania. It is also the 990th largest bank in the nation. It was established in 1887 and as of March of 2023, it had grown to 74 employees at 9 locations. Malvern Bank (PA)'s money market rates are 4X 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.
I came here to write a review on Malvern Bank customer service and realized someone beat me to it, 3 year’s ago. Nothing has changed. I am having issues with the Card Valet App for a week now. After three emails and two phone calls I am nowhere on getting support. No one understands it and one group refers you to another group until you circle back to the original contact. They make promises someone will get back to you that go unfulfilled. I am hopeful the new owners will clean house, get rid of the useless dead wood, and create an institution that actually lives up to its motto, “Beyond Your Expectations”. At this point the organization functions “Below all reasonable expectations”.
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.
Overall | |
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FDIC Certificate # | 27861 |
Year Established | 1887 |
Employees | 74 |
Primary Regulator | OCC |
Profit Margin | |
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Return on Assets - YTD | 0.47% |
Return on Equity - YTD | 2.83% |
Annual Interest Income | $10.5MM |
Assets and Liabilities | ||
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Assets | Q1 2023vs Q1 2022 | $996.0MM$1.10B |
Loans | Q1 2023vs Q1 2022 | $799.2MM$811.2MM |
Deposits | Q1 2023vs Q1 2022 | $746.3MM$862.3MM |
Equity Capital | Q1 2023vs Q1 2022 | $165.6MM$160.6MM |
Loan Loss Allowance | Q1 2023vs Q1 2022 | $9.1MM$9.3MM |
Unbacked Noncurrent Loans | Q1 2023vs Q1 2022 | $14.9MM$14.7MM |
Real Estate Owned | Q1 2023vs Q1 2022 | $200.00K$5.0MM |
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* 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 |
---|---|---|---|---|
0.35% | $500 | - | 12 Month IRA | |
0.35% | $500 | - | 18 Month IRA | |
0.35% | $500 | - | 24 Month IRA | |
0.35% | $500 | - | 36 Month IRA | |
0.35% | $500 | - | 60 Month IRA | |
0.35% | $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 |