Malaga Financial Corporation Reports Earnings for the First Six Months of 2025

PALOS VERDES ESTATES, Calif., July 16, 2025 (GLOBE NEWSWIRE) -- Malaga Financial Corporation “Company” (OTCIQ:MLGF), the parent company of Malaga Bank FSB, today reported that net income for the six months ended June 30, 2025 was $10,950,000 ($1.16 basic and fully diluted earnings per share) compared to $11,791,000 ($1.25 basic and fully diluted earnings per share, as adjusted for the stock dividend declared on November 15, 2024) for the same period ended June 30, 2024. The $841,000 decrease in net income was primarily due to a $475,000 (net of tax) impact related to the Employment Retention Credit (ERC) received in the prior year. Net income for the quarter ended June 30, 2025 was $5,546,000 ($0.59 basic and fully diluted earnings per share), a decrease of $233,000 or 4% from net income of $5,779,000 ($0.61 basic and fully diluted earnings per share, as adjusted for the stock dividend declared on November 15, 2024) for the quarter ended June 30, 2024. For the first six months of 2025, the Company’s annualized return on average equity was 10.23% and the annualized return on average assets was 1.58%.