Palos Verdes Peninsula

Malaga Financial Corporation Reports Record Earnings

Retrieved on: 
Friday, October 13, 2023
FHLB, State, Palos Verdes Peninsula, Sale, Cryptocurrency, Bank, Video game

As of September 30, 2023, Malaga Bank was in compliance with all applicable regulatory capital requirements and was deemed “well-capitalized” under applicable regulations.

Key Points: 
  • As of September 30, 2023, Malaga Bank was in compliance with all applicable regulatory capital requirements and was deemed “well-capitalized” under applicable regulations.
  • Malaga Bank, a subsidiary of Malaga Financial Corporation, is a full-service community bank headquartered on the Palos Verdes Peninsula with six offices located in the South Bay area of Los Angeles.
  • For over fifteen years Malaga Bank has been consistently recommended by one of the nation’s leading independent bank rating and research firms, Bauer Financial Inc. Malaga Bank was awarded Bauer’s premier Top 5-Star rating for the 63rdconsecutive quarter as of June 2023.
  • As the largest community bank in the South Bay, Malaga is proud of its continuing tradition of relationship-based banking and legendary customer service.

Malaga Financial Corporation Announces 77th Consecutive Quarterly Cash Dividend

Retrieved on: 
Friday, September 8, 2023
Palos Verdes Peninsula, Cryptocurrency, Financial services

PALOS VERDES ESTATES, Calif., Sept. 08, 2023 (GLOBE NEWSWIRE) -- Malaga Financial Corporation (OTCPink:MLGF) announced today the declaration of a cash dividend in the amount of 25 cents per share to shareholders of record on September 22, 2023.

Key Points: 
  • PALOS VERDES ESTATES, Calif., Sept. 08, 2023 (GLOBE NEWSWIRE) -- Malaga Financial Corporation (OTCPink:MLGF) announced today the declaration of a cash dividend in the amount of 25 cents per share to shareholders of record on September 22, 2023.
  • This dividend represents a 4.30% annualized yield based on our most recent closing price of $23.24.
  • We are pleased that our strong earnings and balance sheet have positioned us to declare this 25-cent quarterly dividend and reward our shareholders for their investment.
  • For over fifteen years Malaga Bank has been consistently recommended by one of the nation’s leading independent bank rating and research firms, Bauer Financial Inc. Malaga Bank was awarded Bauer’s premier Top 5-Star rating for the 63rd consecutive quarter as of June 2023.

Malaga Financial Corporation Reports Increased Earnings for the First Six Months of 2023

Retrieved on: 
Friday, July 14, 2023
Insurance, State, FHLB, Risk management, Sale, Palos Verdes Peninsula, Bank

For the first six months of 2023, the Company’s annualized return on average equity was 12.29% and the annualized return on average assets was 1.53%.

Key Points: 
  • For the first six months of 2023, the Company’s annualized return on average equity was 12.29% and the annualized return on average assets was 1.53%.
  • Net interest income totaled $11,205,000 in the second quarter of 2023, an increase of $1,085,000 or 11% from the same period in 2022.
  • Operating expenses increased 6% in the second quarter of 2023 to $3,529,000 from $3,316,000 in the second quarter of 2022.
  • FHLB borrowings increased $85.0 million or 34% from $250.0 million at June 30, 2022, to $335.0 million at June 30, 2023.

Malaga Financial Corporation Announces 76th Consecutive Quarterly Cash Dividend

Retrieved on: 
Friday, May 26, 2023
Palos Verdes Peninsula, Cryptocurrency, Financial services, Bank

PALOS VERDES ESTATES, Calif., May 26, 2023 (GLOBE NEWSWIRE) -- Malaga Financial Corporation (OTCPink:MLGF) announced today the declaration of a cash dividend in the amount of 25 cents per share to shareholders of record on June 23, 2023.

Key Points: 
  • PALOS VERDES ESTATES, Calif., May 26, 2023 (GLOBE NEWSWIRE) -- Malaga Financial Corporation (OTCPink:MLGF) announced today the declaration of a cash dividend in the amount of 25 cents per share to shareholders of record on June 23, 2023.
  • This dividend represents a 4.35% annualized yield based on our most recent closing price of $23.00.
  • Malaga Bank has been awarded an A+ financial health rating by DepositAccounts.com.
  • For over ten years Malaga Bank has been consistently recommended by one of the nation’s leading independent bank rating and research firms, Bauer Financial Inc. Malaga Bank was awarded Bauer’s premier Top 5-Star rating for the 62nd consecutive quarter as of March 2023.

Malaga Financial Corporation Reports 23% Increase in YOY First Quarter Earnings

Retrieved on: 
Wednesday, April 19, 2023
State, FHLB, Federal, Sale, Federal Reserve, Palos Verdes Peninsula, Growth, Cryptocurrency, Bank

Net interest income totaled $11,773,000 in the first quarter of 2023, an increase of $1,898,000 or 19% from the first quarter of 2022.

Key Points: 
  • Net interest income totaled $11,773,000 in the first quarter of 2023, an increase of $1,898,000 or 19% from the first quarter of 2022.
  • This increase was due to an increase in excess interest-earning assets over interest-bearing liabilities of $15.8 million and an increase of 0.42% in the interest rate spread to 3.05%.
  • In the first quarter of 2023, operating expenses increased 5% to $3,525,000 from $3,369,000 in the first quarter of 2022.
  • Randy C. Bowers, Chairman, President and CEO, commented, “We are pleased to report a significant increase in first quarter earnings year over year.

Malaga Financial Corporation Announces 75th Consecutive Quarterly Cash Dividend

Retrieved on: 
Monday, March 13, 2023
Palos Verdes Peninsula, Cryptocurrency, Financial services

PALOS VERDES ESTATES, Calif., March 13, 2023 (GLOBE NEWSWIRE) -- Malaga Financial Corporation (OTCPink:MLGF) announced today the declaration of a cash dividend in the amount of 25 cents per share to shareholders of record on March 24, 2023.

Key Points: 
  • PALOS VERDES ESTATES, Calif., March 13, 2023 (GLOBE NEWSWIRE) -- Malaga Financial Corporation (OTCPink:MLGF) announced today the declaration of a cash dividend in the amount of 25 cents per share to shareholders of record on March 24, 2023.
  • The dividend will be paid out on or about April 3, 2023.
  • Malaga Bank has been awarded an A+ financial health rating by DepositAccounts.com.
  • As the largest community bank in the South Bay, Malaga is proud of its continuing tradition of relationship-based banking and legendary customer service.

Malaga Financial Corporation Reports Record Earnings Fourth Quarter and Year-to-Date 2022

Retrieved on: 
Tuesday, January 24, 2023
FHLB, Palos Verdes Peninsula, State, Sale, Unemployment, Real estate, Bank

The Company did not have any delinquent loans over 30 days or real estate owned at December 31, 2022.

Key Points: 
  • The Company did not have any delinquent loans over 30 days or real estate owned at December 31, 2022.
  • The Company’s allowance for loan losses was $3,829,000, or 0.31% of total loans, at December 31, 2022.
  • We are pleased to report record earnings for the full year and the 4th quarter in addition to maintaining excellent credit quality and expense control.
  • As of December 31, 2022, Malaga Bank was in compliance with all applicable regulatory capital requirements and was deemed “well-capitalized” under those regulations.

Malaga Financial Corporation Announces Special Year End 2022 Stock Dividend in Addition to First Quarter 2023 Cash Dividend

Retrieved on: 
Monday, November 14, 2022
Palos Verdes Peninsula, Holding company, Financial services, Bank

Malaga Financial Corporation announced today that its Board of Directors had declared a special 5% stock dividend on the companys common stock outstanding, payable on or about December 30, 2022 to shareholders of record at the close of business on December 16, 2022.

Key Points: 
  • Malaga Financial Corporation announced today that its Board of Directors had declared a special 5% stock dividend on the companys common stock outstanding, payable on or about December 30, 2022 to shareholders of record at the close of business on December 16, 2022.
  • The dividend will be issued in the form of additional shares of common stock.
  • Randy C. Bowers, President and CEO, remarked, We are pleased to declare a special year-end stock dividend in addition to our 74th consecutive quarterly dividend.
  • This is the 11th consecutive year that we have declared a special year-end dividend along with the quarterly cash dividend.

Malaga Financial Corporation Reports Record Earnings

Retrieved on: 
Wednesday, October 19, 2022
Sale, FHLB, Palos Verdes Peninsula, Income, Company, CEO, State, GLOBE, Environment, Compliance, Bank, Video game

Randy C. Bowers, Chairman, President and CEO, commented, In a difficult operating environment we are pleased to report record earnings for both the quarter and first nine months of 2022.

Key Points: 
  • Randy C. Bowers, Chairman, President and CEO, commented, In a difficult operating environment we are pleased to report record earnings for both the quarter and first nine months of 2022.
  • Malaga Bank, a subsidiary of Malaga Financial Corporation, is a full-service community bank headquartered on the Palos Verdes Peninsula with six offices located in the South Bay area of Los Angeles.
  • Malaga Bank has been awarded an A+ financial health rating by DepositAccounts.com.
  • As the largest community bank in the South Bay, Malaga is proud of its continuing tradition of relationship-based banking and legendary customer service.

Malaga Financial Corporation Announces 73rd Consecutive Quarterly Cash Dividend

Retrieved on: 
Monday, September 12, 2022
CEO, GLOBE, Palos Verdes Peninsula, Holding company, Financial services, Bank

PALOS VERDES ESTATES, Calif., Sept. 12, 2022 (GLOBE NEWSWIRE) -- Malaga Financial Corporation (OTCPink:MLGF) announced today the declaration of a cash dividend in the amount of 25 cents per share to shareholders of record on September 23, 2022.

Key Points: 
  • PALOS VERDES ESTATES, Calif., Sept. 12, 2022 (GLOBE NEWSWIRE) -- Malaga Financial Corporation (OTCPink:MLGF) announced today the declaration of a cash dividend in the amount of 25 cents per share to shareholders of record on September 23, 2022.
  • Randy C. Bowers, Chairman, President and CEO, remarked, We are pleased to announce the 25 cent quarterly dividend which represents a 4.26% annualized yield based on our most recent closing price of $23.47.
  • Malaga Bank, a subsidiary of Malaga Financial Corporation, is a full-service community bank headquartered on the Palos Verdes Peninsula with six offices located in the South Bay area of Los Angeles.
  • For over ten years Malaga Bank has been consistently recommended by one of the nations leading independent bank rating and research firms, Bauer Financial Inc. Malaga Bank was awarded their premier Top 5-Star rating for the 59th consecutive quarter as of June 2022.