Malaga Financial Corporation reported earnings results for second quarter and six months ended June 30, 2016. For the quarter, the company reported net income of $2,798,000 or $0.46 basic and $0.45 fully diluted earnings per share, a decrease of $109,000 from income of $2,907,000 for the quarter ended June 30, 2015. Net interest income totaled $7,542,000 in the second quarter of 2016, a decrease of $83,000 or 1% from the second quarter of 2015. This decrease resulted mainly from a decrease in the interest spread from 3.09% to 2.99%, partially offset by an increase in average interest earning assets of $6 million. The decrease in the interest spread was due to a 0.20% decline in the weighted average yield on interest earning assets, while the weighted average rate on interest-bearing liabilities declined only 0.10%. Net income for the six months ended June 30, 2016 was $5,657,000 or $0.93 basic and $0.92 fully diluted earnings per share as compared to $5,656,000 or $0.93 basic and fully diluted earnings per share for the six months ended June 30, 2015. Net income for the first six months of 2016 resulted in an annualized pre-tax return on average equity of 17.25%.