Stilwell Value Partners-led group to publicize board voting results of Prudential Bancorp of Pa.

By Lisa Kerner

Charlotte, N.C., March 7 - A group of Prudential Bancorp Inc. of Pennsylvania investors led by Stilwell Value Partners I, LP want to publicize the voting results of the company's annual meetings, as well as its directors' unwillingness to hold a democratic vote on the stock benefit plans, according to a schedule 13D/A filing with the Securities and Exchange Commission.

A graphic included as part of the filing indicates that 71% of the voting public shareholders withheld votes from directors in 2006, a percentage that rose to 75% in 2007. The graphic is slated to appear as a billboard advertisement beginning on Wednesday.

The group seeks to put Joseph Stilwell on Prudential Bancorp's board to provide a fresh perspective and experience.

Stilwell Value Partners I purchased 15,600 shares of Prudential Bancorp stock from Feb. 13 through March 5 priced from $13.50 to $13.65, for a total of $211,225.

The reporting persons beneficially own 1,177,200, or 9.8%, of the Philadelphia-based bank holding company's stock.

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