Revenue during the quarter grew 19.67 percent to $5.54 million from $4.63 million in the previous year period. Net interest income for the quarter rose 33.13 percent over the prior year period to $5.99 million. Non-interest income for the quarter rose 8.18 percent over the last year period to $0.54 million.

Malvern Bancorp, Inc has made provision of $1 million for loan losses during the quarter, up 165.87 percent from $0.38 million in the same period last year.

Net interest margin improved 10 basis points to 2.75 percent in the quarter from 2.65 percent in the last year period. Efficiency ratio for the quarter improved to 57.40 percent from 66.20 percent in the previous year period. A decline in efficiency ratio indicates a rise in profitability.

"Completing our half way mark in to 2017, Malvern is again demonstrating consistent earnings following a year in which Malvern delivered record earnings - in fact, our 10th consecutive quarter since my joining Malvern Federal - and also another period where we reported strong performance across all key metrics. The expansion of Malvern continues, driven by growth in deposits of $102.2 million and in gross loans of $180.8 million. This was all achieved despite the challenges of digesting increased provisions for loan losses commensurate with loan growth and growing net revenue simultaneously. Moreover, we bolstered our capital position with a successful subordinated debt offering of $25 million which closed on February 7, 2017. This capital raise, along with solid earnings retention, well positions Malvern for future expansion," commented Anthony C. Weagley, President and Chief Executive Officer.

Loans to deposits ratio was stable at 107.80 percent in the quarter, when compared with the last year period.

Investments stood at $98.73 million as on Mar. 31, 2017. Shareholders equity was at $97.46 million as on Mar. 31, 2017.

Return on average assets moved down 6 basis points to 0.62 percent in the quarter from 0.68 percent in the last year period. At the same time, return on average equity decreased 22 basis points to 5.81 percent in the quarter from 6.03 percent in the last year period.

Nonperforming assets moved up 8.69 percent or $0.14 million to $1.69 million on Mar. 31, 2017 from $1.55 million on Mar. 31, 2016. Meanwhile, nonperforming assets to total assets was 0.18 percent in the quarter, down from 0.20 percent in the last year period.

Equity to assets ratio was 10.13 percent for the quarter, down from 11.09 percent for the previous year quarter. Book value per share was $14.83 for the quarter, up 14.87 percent or $1.92 compared to $12.91 for the same period last year.