SHAREHOLDER ALERT: Weiss Law Investigates Malvern Bancorp, Inc.

NEW YORK, Dec. 14, 2022 /PRNewswire/ -- Weiss Law is investigating possible breaches of fiduciary duty and other violations of law by the board of directors of Malvern Bancorp, Inc. ("Malvern" or the "Company") (NASDAQ: MLVF), in connection with the proposed acquisition of the Company by First Bank ("First Bank") (NASDAQ: FRBA).  Under the merger agreement, the Company's shareholders will receive 0.7733 shares of First Bank common stock, plus $7.80 in cash for each outstanding Malvern share, representing implied per-share consideration of $19.64 based upon First Bank's December 13, 2022 closing price of $15.31. The transaction is valued at approximately $149.5 million.

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