Malaga Financial Corporation reported earnings results for the third quarter and nine months ended September 30, 2015. The company reported net income for the quarter ended September 30, 2015 was $2,829,000 ($0.47 basic and $0.46 fully diluted earnings per share), a decrease of $78,000 from income of $2,907,000 for the quarter ended June 30, 2015 and an increase of $1,000 from net income of $2,828,000 ($0.47 per share basic and fully diluted) for the quarter ended September 30, 2014. Net interest income totaled $7,513,000 in the third quarter of 2015, an increase of $68,000 or 1% from the third quarter of 2014. This increase resulted from an increase in average interest earning assets of $69 million offset by a decrease in the interest spread from 3.20% to 2.99%.

Net income for the nine months ended September 30, 2015 was $8,485,000 ($1.40 basic and $1.39 fully diluted earnings per share) as compared to $8,372,000 ($1.39
basic and fully diluted earnings per share) for the nine months ended September 30, 2014, a 1% increase. Net income for the first nine months of 2015 resulted in an annualized pre-tax return on average equity of 18.17%.