Malaga Financial Corp. reported earnings results for the second quarter and six months ended June 30, 2015. For the quarter, the company reported net income of $2,907,000 or $0.48 per share basic and fully diluted, an increase of $158,000 from income of $2,749,000 for the quarter ended March 31, 2015 and an increase of $96,000 or 3% from net income of $2,811,000 or $0.46 per share basic and fully diluted for the quarter ended June 30, 2014. Net interest income totaled $7,624,000 in the second quarter of 2015, an increase of $161,000 or 2% from the second quarter of 2014. This increase resulted from an increase in average interest earning assets of $73 million offset by a decrease in the interest spread from 3.27% to 3.09%.

For the six months, the company's net income was $5,656,000 or $0.93 per basic and fully diluted earnings per share as compared to $5,544,000 or $0.92 per basic and fully diluted earnings per share for the six months ended June 30, 2014, a 2% increase. Net income for the first six months of 2015 resulted in an annualized pre-tax return on average equity of 18.33%.