William Penn Bancorp investor Stilwell could increase activism

By Lisa Kerner

Charlotte, N.C., Jan. 16 - Stilwell Value Partners VI, LP bought 19,568 shares of William Penn Bancorp Inc. stock between Sept. 16 and Dec. 18 for a total of $270,524.

According to a schedule 13D/A filed with the Securities and Exchange Commission, Stilwell and its affiliates don't believe that William Penn Bancorp's assets are reflected in the current market price and want to work with the company's management to maximize shareholder value.

In September, Stilwell opposed the company's stock benefit plans and previously sought the removal of 87-year-old John Judge from William Penn's board, prior SEC filings said.

Stilwell beneficially owns 274,368 shares, or 7.5%, of the Levittown, Pa., bank holding company.

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