Attached files
| file | filename |
|---|---|
| 8-K - FORM 8-K - PRUDENTIAL BANCORP INC OF PENNSYLVANIA | form8k.htm |
Exhibit 99.1
Press Release
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Release Date: October 21, 2011
at 4:30 p.m. EST
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Contact: Thomas A. Vento - President
Joseph R. Corrato - Executive Vice President
(215) 755-1500
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PRUDENTIAL BANCORP, INC. OF PENNSYLVANIA ANNOUNCES
APPOINTMENT OF NEW DIRECTOR
Philadelphia, Pennsylvania (October 21, 2011) – Prudential Bancorp, Inc. of Pennsylvania (the “Company”) (Nasdaq:PBIP), the “mid-tier” holding company for Prudential Savings Bank (the “Bank”), today announced the appointment of Joseph R. Corrato as a director of the Company and its wholly owned subsidiary, Prudential Savings Bank (the “Bank”) effective October 19, 2011. Mr. Corrato was also appointed to the Board of Directors of the Company’s mutual holding company parent, Prudential Mutual Holding Company (the “MHC”).
Mr. Corrato currently serves as the Executive Vice President and Chief Financial Officer of both the Company and the Bank and has served in such capacity since 2004 with respect to the Company and 1997 with respect to the Bank.
Prudential Bancorp, Inc. of Pennsylvania is the "mid-tier" holding company for Prudential Savings Bank. Prudential Savings Bank is a Pennsylvania-chartered, FDIC-insured savings bank that was originally organized in 1886. The Bank conducts business from its headquarters and main office in Philadelphia, Pennsylvania as well as six additional full-service branch offices, five of which are in Philadelphia and one of which is in Drexel Hill in Delaware County, Pennsylvania.
This news release contains certain forward-looking statements, including statements about the financial condition, results of operations and earnings outlook for Prudential Bancorp, Inc. of Pennsylvania. Forward-looking statements can be identified by the fact that they do not relate strictly to historical or current facts. They often include words such as "believe," "expect," "anticipate," "estimate" and "intend" or future or conditional verbs such as "will," "would," "should," "could" or "may." Forward-looking statements, by their nature, are subject to risks and uncertainties. A number of factors, many of which are beyond the Company's control, could cause actual conditions, events or results to differ significantly from those described in the forward-looking statements. The Company's reports filed from time-to-time with the Securities and Exchange Commission, describe some of these factors, including general economic conditions, changes in interest rates, deposit flows, the cost of funds, changes in credit quality and interest rate risks associated with the Company's business and operations. Other factors described include changes in our loan portfolio, changes in competition, fiscal and monetary policies and legislation and regulatory changes. Investors are encouraged to review the Company's periodic reports filed with the Securities and Exchange Commission for financial and business information regarding the Company at www.prudentialsavingsbank.com under the Investor Relations menu. We undertake no obligation to update any forward-looking statements.