---
schema_version: "secwatch.filing_event.v1"
accession: "0001437749-23-020011"
form_type: "8-K"
ticker: null
cik: "0001550603"
company_name: "MALVERN BANCORP, INC."
filed_at: "2023-07-17T23:59:59+00:00"
generated_at: "2026-06-13T07:40:03.976985+00:00"
event_type: "m_and_a"
sentiment: "neutral"
materiality_score: 1.0
calibrated_materiality_score: 1.0
confidence: "high"
source: SEC EDGAR
---

# First Bank completes acquisition of Malvern Bancorp for ~$129.7M; MLVF delisted

## Summary
- Acquisition completed July 17; Malvern shareholders receive $7.80 cash + 0.7733 FRBA shares per MLVF share.
- Total transaction value ~$129.7M; combined entity has ~$3.8B in assets.
- Malvern common stock delisted from Nasdaq; trading suspended before market open July 17.
- First Bank expands board by three seats, appointing Malvern directors Fish, Kent, and Leitzell.
- Malvern directors and executive officers cease; Malvern ceases to exist as separate entity.

## SEC filing metadata
- accession: 0001437749-23-020011
- form_type: 8-K
- cik: 0001550603
- company_name: MALVERN BANCORP, INC.
- filed_at: 2023-07-17T23:59:59+00:00
- event_type: m_and_a
- sentiment: neutral
- materiality_score: 1.0
- calibrated_materiality_score: 1.0
- confidence: high
- sec_items: 2.01, 3.01, 3.03, 5.01, 5.02, 5.03, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1550603/000143774923020011/0001437749-23-020011-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1550603/000143774923020011/mlvf20230716_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001437749-23-020011
- JSON: https://secwatch.observer/filing/0001437749-23-020011.json
- Plain text: https://secwatch.observer/filing/0001437749-23-020011.txt

## Key facts
- Executive change
  Leitzell departed as Director at MALVERN BANCORP, INC..
  - Action: ceased serving
  - Role: Director
  source text: At the Effective Time, Malvern’s directors and executive officers ceased serving in such capacities.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1550603/000143774923020011/0001437749-23-020011-index.htm
- Executive change
  Kent departed as Director at MALVERN BANCORP, INC..
  - Action: ceased serving
  - Role: Director
  source text: At the Effective Time, Malvern’s directors and executive officers ceased serving in such capacities.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1550603/000143774923020011/0001437749-23-020011-index.htm
- Executive change
  Fish departed as Director at MALVERN BANCORP, INC..
  - Action: ceased serving
  - Role: Director
  source text: At the Effective Time, Malvern’s directors and executive officers ceased serving in such capacities.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1550603/000143774923020011/0001437749-23-020011-index.htm
- Governance Changes
  MALVERN BANCORP, INC.: As a result of merger, Malvern ceased to exist; First Bank's charter and bylaws became the governing documents of the surviving corporation.
  - Change: bylaw amendment
  source text: As a result of the Merger, at the Effective Time Malvern ceased to exist and First Bank continued as the surviving corporation. The certificate of incorporation of First Bank as in effect immediately prior the Effective Time became and shall remain the certificate of incorporation of the surviving corporation, and the bylaws of First Bank as in effect immediately prior to the Effective Time became and shall remain the bylaws of the surviving corporation.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1550603/000143774923020011/0001437749-23-020011-index.htm
- M&A Transactions
  MALVERN BANCORP, INC. underwent a change of control involving First Bank for $7.80 in cash and 0.7733 shares of First Bank common stock (closed 2023-07-17).
  - Action: change of control
  - Counterparty: First Bank
  - Consideration: $7.80 in cash and 0.7733 shares of First Bank common stock
  - Closing: 2023-07-17
  source text: to the terms of the Merger Agreement, at the effective time of the Merger (the “ Effective Time ”), each share of Malvern common stock was converted into the right to receive $7.80 in cash and 0.7733 shares of First Bank common stock, with cash paid in lieu of fractional shares pursuant to the Merger Agreement. At the Effective Time, each outstanding Malvern
  evidence_url: https://www.sec.gov/Archives/edgar/data/1550603/000143774923020011/0001437749-23-020011-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.