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FRBA STOCK ALERT: HALPER SADEH LLC IS INVESTIGATING WHETHER THE MERGER OF FIRST BANK IS FAIR TO SHAREHOLDERS

December 14, 2022.

New York, New York—Halper Sadeh LLC, an investor rights law firm, is investigating whether the merger of First Bank (NASDAQ: FRBA) and Malvern Bancorp, Inc. is fair to First Bank shareholders. Under the terms of the merger, Malvern shareholders will receive 0.7733 shares of First Bank common stock and $7.80 in cash per each Malvern common share outstanding.

The investigation concerns whether First Bank and its board violated the federal securities laws and/or breached their fiduciary duties to shareholders by failing to, among other things: (1) obtain the best possible consideration for First Bank shareholders; and (2) disclose all material information necessary for First Bank shareholders to adequately assess and value the merger consideration. On behalf of First Bank shareholders, Halper Sadeh LLC may seek increased consideration for shareholders, additional disclosures and information concerning the proposed transaction, or other relief and benefits.

Halper Sadeh LLC represents investors all over the world who have fallen victim to securities fraud and corporate misconduct. Our attorneys have been instrumental in implementing corporate reforms and recovering millions of dollars on behalf of defrauded investors.

Attorney Advertising. Prior results do not guarantee a similar outcome.

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