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Malvern Bancorp, Inc., Announces Restatement of Specified Financial Statements

MALVERN BANCORP (MLVF)  More Company Research Source: GlobeNewswire
US:NASDAQ Investor Relations: ir.malvernfederal.com
PDF PAOLI, Pa., Nov. 28, 2017 (GLOBE NEWSWIRE) -- Malvern Bancorp, Inc. (NASDAQ:MLVF) (the "Company"), parent company of Malvern Federal Savings Bank (“Malvern” or the “Bank”), announced it is restating its consolidated financial statements as of September 30, 2016 and 2015, for each of the years in the two year period ended September 30, 2016, and its consolidated interim financial statements for the periods ended December 31, 2016, March 31, 2017 and June 30, 2017 (collectively, the “Specified Financial Statements”).  The previously filed Specified Financial Statements should no longer be relied upon.  The Company will be filing amendments to its fiscal 2016 10-K and 10-Qs for the first three quarters of fiscal 2017, which will include the restated Specified Financial Statements.  The matters described in this press release relate to the Company’s income tax account balances.  The effect of these matters is to increase net income for fiscal 2016 by approximately $208,000, fiscal 20 [Read more]

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