Malvern Bank (PA)

Overview / Commentary

www.mymalvernbank.com

610-644-9400

42 East Lancaster Avenue
Paoli, PA 19301

Malvern Bank (PA) is headquartered in Paoli and is the 42^nd largest bank in the state of Pennsylvania. It is also the 905^th largest bank in the nation. It was established in 1887 and as of March of 2022, it had grown to 80 employees at 9 locations. Malvern Bank (PA)'s money market rates are 14% higher than the national average, and it has a B+ health rating.

View all posts from:

2021
2020
2019
Earlier

5/17 - Malvern Bank (PA) Offers Competitive Senior Checking In Four States

12/29 - Grandfathered Rate Drops To .65% APY From 1.25% APY In 43-Days
10/28 - Malvern Cuts Money Market To
10/28 - Rate Cut On Money Market
8/20 - Malvern Bank Online Money Market Available In DE, FL, NJ, and PA
8/17 - Malvern Bank (PA) Expands Online Kasasa Cash Market Area

5/14 - Malvern Bank (PA) Unveils Kasasa Cash, 3.00% APY Up To $25k

8/12/16 - CD Rate Specials In Southeastern Pennsylvania
9/5/11 - Competitive Long-Term CD Rates at Malvern Federal Savings in PA - Local Only
5/2/11 - Malvern Federal Savings Bank RCA - No More!
3/15/10 - Malvern Federal Savings Bank Cuts Reward Checking Rate to 1.50%
11/12/09 - High-Yield Reward Checking Account at a Pennsylvania Bank (Malvern Federal Savings)

Reviews (9)

Great Rates, Products, And People!

Posted by: RHinkle | Sep 5, 2020

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.

Comment

Horrible, Horrible Bank

Posted by: phillyguynick | Feb 13, 2020

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.

Comment

IRA Staff Are Horrible- Don't Know What They Are Doing

Posted by: Lori Mauer Burns | Feb 4, 2017

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.

Comment

Customer Service Is The Worst. Just Closed My Accounts.

Posted by: distincomm | Dec 31, 2015

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

Comment

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Health

B+

Data as of Q1 2022

Learn why bank health matters

Health Grade Components

Overall
FDIC Certificate #	27861
Year Established	1887
Employees	80
Primary Regulator	OCC

Profit Margin
Return on Assets - YTD	0.3%
Return on Equity - YTD	2.11%
Annual Interest Income	$8.3MM

Assets and Liabilities
Assets	Q1 2022vs Q1 2021	$1.10B$1.20B
Loans	Q1 2022vs Q1 2021	$811.2MM$974.6MM
Deposits	Q1 2022vs Q1 2021	$862.3MM$921.8MM
Equity Capital	Q1 2022vs Q1 2021	$160.6MM$160.6MM
Loan Loss Allowance	Q1 2022vs Q1 2021	$9.3MM$12.6MM
Unbacked Noncurrent Loans	Q1 2022vs Q1 2021	$14.7MM$23.0MM
Real Estate Owned	Q1 2022vs Q1 2021	$5.0MM$5.8MM

Rates

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Savings
Money Market
Checking
CD
IRA

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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.

Malvern Bank (PA) Savings Account Rates

APY	MIN	MAX	ACCOUNT NAME
1.00%^*	-	$100k	Kasasa Saver
OTHER TIERS: 0.50% → $100k+
0.50%	-	-	Retirement Statement Savings
0.05%	$10	-	Malvern Youth Savings
0.05%	$200	-	Statement Savings
0.05%	$200	-	Business Statement Savings

Malvern Bank (PA) Money Market Rates

APY	MIN	MAX	ACCOUNT NAME
0.50%	$2.5k	-	OnLine Money Market - New Money
0.30%^*	$100k^*	-	Star Money Market
OTHER TIERS: 0.10% → $2.5k - $25k \| 0.20% → $25k - $50k \| 0.25% → $50k - $100k
0.30%^*	$250k^*	-	Business Money Market
OTHER TIERS: 0.05% → $2.5k - $25k \| 0.20% → $25k - $100k \| 0.25% → $100k - $250k
0.30%^*	$125k^*	-	Premium Money Market
OTHER TIERS: 0.20% → $75k - $125k
0.30%^*	$100k^*	-	Premier Rewards Money Market
OTHER TIERS: 0.10% → $2.5k - $25k \| 0.25% → $25k - $100k
0.30%^*	$100k^*	-	Premier Rewards Business Money Market Account
OTHER TIERS: 0.05% → $2.5k - $10k \| 0.10% → $10k - $50k \| 0.25% → $50k - $100k

Malvern Bank (PA) Checking Account Rates

APY	MIN	MAX	ACCOUNT NAME
2.00%^*	-	$25k	Kasasa Cash Checking
OTHER TIERS: 0.50% → $25k+
0.30%^*	$100k^*	-	Premier Rewards Checking
OTHER TIERS: 0.05% → $2.5k - $25k \| 0.15% → $25k - $100k
0.30%^*	$100k^*	-	IOLTA
OTHER TIERS: 0.10% → $2.5k - $25k \| 0.25% → $25k - $100k
0.30%^*	$100k^*	-	Premiere Rewards Business Checking
OTHER TIERS: 0.05% → $2.5k - $25k \| 0.15% → $25k - $100k
0.30%	$5k	-	Senior Checking
0.05%	$1k	-	Free Checking with Interest
0.05%	-	$25k	Free Business Checking with Interest
0.05%	-	$25k	Non-Profit Business Checking

Malvern Bank (PA) CD Rates

APY	MIN	MAX	ACCOUNT NAME
1.05%	$500	-	60 Month CD
1.05%	$500	-	Business 60 Month CD
1.05%	$500	-	60 Month Online CD
1.05%	$500	-	Business 60 Month Online CD
0.80%	$500	-	48 Month CD
0.80%	$500	-	Business 48 Month CD
0.80%	$500	-	48 Month Online CD
0.80%	$500	-	Business 48 Month Online CD
0.70%	$500	-	36 Month CD
0.70%	$500	-	Business 36 Month CD
0.70%	$500	-	36 Month Online CD
0.70%	$500	-	Business 36 Month Online CD
0.65%	$500	-	24 Month CD
0.65%	$500	-	Business 24 Month CD
0.65%	$500	-	24 Month Online CD
0.65%	$500	-	Business 24 Month Online CD
0.60%	$500	-	18 Month CD
0.60%	$500	-	Business 18 Month CD
0.55%	$500	-	12 Month CD
0.55%	$500	-	Business 12 Month CD
0.55%	$500	-	12 Month Online CD
0.55%	$500	-	Business 12 Month Online CD
0.30%	$1k	-	6 Month CD
0.30%	$1k	-	Business 6 Month CD
0.20%	$1k	-	3 Month CD
0.20%	$1k	-	Business 3 Month CD

Malvern Bank (PA) IRA Rates

APY	MIN	MAX	ACCOUNT NAME
1.15%	$500	-	60 Month IRA
1.10%	$500	-	48 Month IRA
1.05%	$500	-	36 Month IRA
1.00%	$500	-	24 Month IRA
0.85%	$500	-	18 Month IRA
0.80%	$500	-	12 Month IRA

Locations

Malvern Bank (PA) Locations
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 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

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