MALVERN BANK TO NAME KATE MCGANN BANK PRESIDENT

Jay Burdic, owner of Malvern Bank, is pleased to announce the appointment of Kate McGann as Bank President, effective January 1, 2025.

McGann has a Bachelor of Science in Business Management from Iowa State University. She is a graduate of both the Iowa School of Banking and the Graduate School of Banking at Colorado. McGann has been with Malvern Bank since 2012. She has been a member of the Bank’s Board of Directors and has served as the Bank’s Executive Vice President and Chief Loan Officer since 2016. McGann’s leadership has been pivotal to the Bank’s growth and success over the past 12 years in which the Bank has tripled its asset size and completed three significant physical expansions.

McGann is currently an active member of several local boards including Mills County Community Foundation, Jennie Edmundson Memorial Hospital Foundation, Mills County Economic Development Foundation, East Mills Child Care Solutions, and Malvern Community Student Loan Fund with past experience as a member of Malvern City Council, Mills County Compensation Board, Enhance Iowa Board, and as the Project Coordinator for Malvern’s CDBG Revitalization Grant.

It is evident that McGann is well positioned to assume the role of President at Malvern Bank where “We Build Community” is more than just the tagline, it is at the core of everything the Bank does.

McGann expressed enthusiasm about the new role, stating “I am both thankful and proud to have worked for Malvern Bank since returning to my hometown just over a decade ago. The growth experienced by Malvern Bank and the community in recent years has been transformational and I look forward to being involved in the continuation of that growth. I am truly honored that the Burdic family has entrusted me with a leadership role in this organization and that they are committed to Malvern Bank remaining a true community bank for decades to come.”

Burdic will continue to lead the Bank that has been in his family since 1946 as CEO and Chairman of the Board. He looks forward to McGann serving in her new role, noting “Since she came home to work at the bank 12 years ago, Kate has exhibited the same passion and commitment to the people of this area that my grandfather and my dad instilled in me from the very beginning.  I have no doubts that Kate will continue to lead the bank in the same trajectory that has taken it from a $75 million bank in 2013 to the $220 million bank of today.”

Burdic continues, “Having a sound succession plan is vital, especially when the business is family-owned. I feel strongly that Kate’s promotion to Bank President will ensure the Bank is in good hands for years to come.” Burdic will continue to be active in the bank and in the community, stating “This move will allow me to focus more of my time on business development and the continued growth of Malvern Bank.”

For more information, please contact:

Jay Burdic

CEO and Chairman

Malvern Bank

712-624-8686

jburdic@malvern.bank