Management at Malvern Bancorp in Paoli, Pa., is gearing up for what can easily be summed up as "double trouble."

Almost a year after caving in to outside pressure to convert to a fully stock-owned company, the $666 million-asset thrift is again feeling the heat. This time, Joseph Stilwell, who controls 9.8% of Malvern's common stock, is aiming to put a director on the thrift's board. He is also vowing to fight for dividends and stock repurchases.

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