 PAOLI, Pa., March 10, 2021 GLOBE NEWSWIRE -- Malvern Bancorp, Inc. NASDAQ: MLVF the Company, the parent company of Malvern Bank, National Association the Bank, today reported operating results for the first fiscal quarter ended December 31, 2020. Net income for the quarter ended December 31, 2020 amounted to 2.3 million, or 0.30 per fully diluted common share, compared with net income of 785,000, or 0.10 per fully diluted common share, for the quarter ended December 31, 2019. The increases in net income and diluted earnings per share from the first quarter of 2019 were primarily due to a decrease in provision for loan losses. Provision for loan losses for the quarter ended December 31, 2020 was 1.6 million lower than in the quarter ended December 31, 2019. Annualized return on average assets ROAA was 0.74 percent for the quarter ended December 31, 2020, compared to 0.26 percent for the quarter ended December 31, 2019, and annualized return on average equity ROAE was 6.38 percent for the quarter ended December 31, 2020, compared with 2.19 percent for the quarter ended December 31, 2019. 