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                             March 17, 2023

       Joseph D. Gangemi
       Chief Financial Officer
       Malvern Bancorp, Inc.
       42 East Lancaster Avenue
       Paoli, PA 19301

                                                        Re: Malvern Bancorp, 
Inc.
                                                            Preliminary Proxy 
Statement
                                                            Filed March 9, 2023
                                                            File No. 000-54835

       Dear Joseph D. Gangemi:

              We have reviewed your filing and have the following comments. In 
some of our
       comments, we may ask you to provide us with information so we may better 
understand your
       disclosure.

              Please respond to these comments within ten business days by 
providing the requested
       information or advise us as soon as possible when you will respond. If 
you do not believe our
       comments apply to your facts and circumstances, please tell us why in 
your response.

                                                        After reviewing your 
response to these comments, we may have additional comments.

       Preliminary Proxy Statement

       Where you can find more information, page 150

   1.                                                   It appears that First 
Bank has not yet filed its 10-K with the FDIC. Please confirm once
                                                        the 10-K has been filed 
and update accordingly.
               We remind you that the company and its management are 
responsible for the accuracy
       and adequacy of their disclosures, notwithstanding any review, comments, 
action or absence of
       action by the staff.
 Joseph D. Gangemi
Malvern Bancorp, Inc.
March 17, 2023
Page 2



       You may contact John Stickel at 202-551-3324 or John Dana Brown at 
202-551-3859 if
you have questions.



FirstName LastNameJoseph D. Gangemi                     Sincerely,
Comapany NameMalvern Bancorp, Inc.
                                                        Division of Corporation 
Finance
March 17, 2023 Page 2                                   Office of Finance
FirstName LastName