Malaga Financial Corporation Reports Increased Earnings and Dividends

Malaga Financial Corporation (MLGF), the parent company of Malaga Bank FSB, today reported that net income for the quarter ended December 31, 2016 was $3,090,000 ($0.50 basic and fully diluted earnings per share), an increase of $169,000 or 6% from net income of $2,921,000 ($0.48 basic and fully diluted earnings per share) for the quarter ended December 31, 2015. Net income for the twelve months ended December 31, 2016 was $11,559,000 ($1.89 basic and $1.88 fully diluted earnings per share) as compared to $11,406,000 ($1.88 basic and $1.87 fully diluted earnings per share) for the twelve months ended December 31, 2015, a 1% increase. Earnings for the twelve months ended December 31, 2016 resulted in a pre-tax return on average equity of 17.25%.... Read more

Older articles featuring MLGF: