Replies to post #353 on Hank's Small Banks

[10 bagger]

MLGF.. $16.50
Malaga Bank Ranked Top Performing Thrift in the United States

Business Wire - Jun 23 at 20:24

Company Symbols: NASDAQ-OTCBB:MLGF


PALOS VERDES ESTATES, Calif.--(BUSINESS WIRE)-- Malaga Financial Corporation (OTCBB:MLGF), the parent company of Malaga Bank FSB, today announced that it has been ranked the top-performing thrift in the United States for the most recent 12 month period ending March 31, 2010. SNL Financial ranked the 100 largest publicly traded thrifts according to six performance metrics, weighted the rankings and gave each institution a final composite score. The higher the score, the better the final ranking with Malaga coming out # 1 in the nation. For example, according to the six metrics--total assets; 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; nonperforming assets and net charge-offs--Malaga received a score of 95.80 which surpassed the ranking--coming in at 90.70--by over 5 points! In fact, Malaga ranked in the top five in five of the six metrics, with the highest core ROAA and the second highest ROAE. During the ranking period Malaga also grew deposits (by 28% compared to a median of only 8%) and loans (by 3% compared to a median LOSS of 2% for the group) as well as having a return of over 75% on our common stock!

"We are extremely pleased with this recognition which can be attributed to the long term support and guidance of our Board of Directors, along with the continued loyalty and hard work of all of our employees. Our continued success and ranking are a result of the disciplined execution of our business plan with its focus on customer service and conservative, prudent business practices," 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 branch offices located on the Peninsula, in Torrance and San Pedro. For over 25 years, 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.




Source: Malaga Financial Corporation