Malvern Chief Revamps Pennsylvania Bank's Management Team

By Colin Wilhelm May 29, 2015, 8:11 a.m. EDT 1 Min Read

Community banking

Activist Investor Pressures Two Malvern Directors to Resign

PL Capital in Naperville, Ill., disclosed in a regulatory filing last week that it wants Joseph Palmer Jr. and John Yerkes Jr. to resign rather than stand for reelection at the $542 million-asset company's Feb. 10 annual meeting.

By Paul Davis

January 20
Community banking

Malvern in Pennsylvania to Partner with Wealth Management Firm

Malvern Bancorp in Paoli, Pa., has entered a partnership with Bell Rock Capital in Delaware to offer wealth management services.

By Colin Wilhelm

January 12
Community banking

CFO Resigns at Pennsylvania's Malvern Bancorp

Dennis Boyle has resigned as treasurer and chief financial officer of Malvern Bancorp in Paoli, Pa.

By Colin Wilhelm

January 2

Anthony Weagley is starting to leave his stamp on Malvern Bancorp in Paoli, Pa.

Weagley, who became the $624 million-asset company's president and chief executive in September, has tapped three executives to join his leadership team.

Joseph Gangemi was named Malvern's chief financial officer, succeeding Dennis Boyle, who resigned in January. Weagley had been acting CFO in the interim. Gangemi, who had been Malvern's corporate secretary and treasurer, had worked with Weagley when they were at Center Bancorp in Union, N.J.

Weagley was president and CEO of Center before it merged with ConnectOne Bancorp last year.

Missy Orlando, a consultant for Malvern since January, takes over as chief operating officer. Orlando's work experience includes time as chief marketing officer at Sovereign Bank in Wyomissing, Pa.

Jay Power was named Malvern's chief lending officer. He had been a senior commercial lending officer since joining the company in August. His background includes time as a senior commercial lending officer at Univest Bank & Trust in West Chester, Pa.

Malvern, which is operating under a written agreement with the Office of the Comptroller of the Currency, had also been facing pressure from activist investors. Since Weagley's arrival, Malvern has been able to win over two key investors Stilwell Group and PL Capital.

Colin Wilhelm