Malvern Bancorp (MLVF) in Paoli, Pa., is facing activist pressure to sell itself.

PL Capital, which owns about 9.7% of Malvern's stock, urged the board of the $585 million-asset company to find a buyer. "We do not think Malvern has evidenced the ability to adequately address its challenges individually," the group said in a May 14 letter included in a recent regulatory filing.

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