 PAOLI, Pa., Feb. 16, 2021 GLOBE NEWSWIRE -- Malvern Bancorp, Inc. NASDAQ: MLVF the Company, the parent company of Malvern Bank, National Association, today announced an additional impairment with respect to a previously announced impaired commercial real estate loan. As reported in the Companys Annual Report on Form 10-K, filed with the Securities and Exchange Commission on January 29, 2021 the 10-K, the Company partially charged-off a 13.5 million New York City commercial real estate loan the Loan, and classified the Loan as non-accruing as of September 30, 2020. The partial charge off, as reported in the 10-K, amounted to approximately 2.9 million and resulted in a specific reserve of approximately 581,000, pending the receipt of a third-party appraisal. As disclosed in the 10-K, further impairment of the Loan could be warranted following receipt of the appraisal report. 