 Also located downtown is the Bank of Malvern building, historically notable both for its distinct variation of Richardsonian Romanesque architecture and its importance in transitioning Malvern from an agricultural-based economy to one based on industry.The Hot Spring County Museum is located in the Boyle House at 302 East Third Street in Malvern.Malvern hosts one of two whitewater parks in the state of Arkansas, located on the Ouachita River.