Malaga Financial Corporation (OTCBB:MLGF), the parent company of Malaga Bank FSB, today announced it has been ranked the top-performing thrift in the United States for the most recent 12-month period ending March 31, 2011 for the second consecutive year. SNL Financial ranked the 100 largest publicly traded thrifts according to six performance metrics, with standard deviations weighted and added together to calculate a performance score for each company. The higher the score, the better the final ranking with Malaga coming out #1 in the nation. For example, according to the six metrics — core return on average assets (ROAA); core return on average equity (ROAE); three-year compound annual growth rate in tangible book value per share; efficiency ratio; non-performing loans and net charge-offs — Malaga received a score of 134.22 which surpassed the #2 ranking — coming in at 127.12 — by over 7 points! In fact, Malaga ranked in the top three in five of the six metrics.
“We are extremely pleased with this recognition which can be attributed to the hard work of our staff and the guidance of our Board of Directors. The disciplined execution of our business plan has produced exceptional results, as evidenced by our annualized return on average equity of 14.69% for the first 6 months of 2011 and our lack of delinquent loans and foreclosures,” commented Randy Bowers, President and CEO.
Malaga Bank, a subsidiary of MFC, is a full-service community bank headquartered on the Palos Verdes Peninsula with five offices located in the South Bay area of Los Angeles. In its 27 th year, Malaga Bank has been delivering competitive banking services to residents and businesses of the South Bay, including real estate loan products custom-tailored to consumers and investors. As the largest community bank in the South Bay, Malaga is proud of its continuing tradition of relationship-based banking and legendary customer service. The Bank’s web site is located at www.malagabank.com.