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Malaga Financial Corp - MLGF STOCK NEWS

Welcome to our dedicated news page for Malaga Financial (Ticker: MLGF), a resource for investors and traders seeking the latest updates and insights on Malaga Financial.

Our selection of high-quality news articles is accompanied by an expert summary from Rhea-AI, detailing the impact and sentiment surrounding the news at the time of release, providing a deeper understanding of how each news could potentially affect Malaga Financial's stock performance. The page also features a concise end-of-day stock performance summary, highlighting the actual market reaction to each news event. The list of tags makes it easy to classify and navigate through different types of news, whether you're interested in earnings reports, stock offerings, stock splits, clinical trials, fda approvals, dividends or buybacks.

Designed with both novice traders and seasoned investors in mind, our page aims to simplify the complex world of stock market news. By combining real-time updates, Rhea-AI's analytical insights, and historical stock performance data, we provide a holistic view of Malaga Financial's position in the market.

Rhea-AI Summary
Malaga Financial , the parent company of Malaga Bank FSB, reported strong first-quarter earnings in 2024, with a net income of $6,012,000, showing a 2% increase from the previous year. The company's annualized return on average equity was 12.06%, and on average assets was 1.64%. Net interest income decreased by 5% due to a lower interest rate spread, partially offset by an increase in excess interest-earning assets. Operating expenses increased by 2%, primarily due to higher deposit insurance premiums and data processing costs. The company also benefited from the Employee Retention Credit related to the COVID-19 pandemic.
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Malaga Financial (MLGF) declares a cash dividend of 25 cents per share, benefiting shareholders of record on March 26, 2024. The dividend payout reflects the company's commitment to rewarding its investors.
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Malaga Financial Corporation reported a net income of $22,981,000 for the twelve months ended December 31, 2023, representing an 8% increase from the previous year. The annualized return on average equity was 12.08%, and the annualized return on average assets was 1.52%. The Company experienced a decrease in net income for the quarter ended December 31, 2023, compared to the same period in 2022. However, the overall financial position remains strong, with no delinquent loans over 30 days and a well-capitalized status. Malaga Bank's total assets decreased to $1.475 billion, while the loan portfolio increased to $1.269 billion. The Company declared a quarterly cash dividend of 25 cents per share and a special stock dividend of 5% per share.
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Malaga Financial Corporation (MLGF) Declares 5% Special Stock Dividend
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Malaga Financial Corporation reports increase in net income for the nine months ended September 30, 2023
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Malaga Financial Corporation declares cash dividend of 25 cents per share, representing a 4.30% annualized yield based on recent closing price of $23.24.
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Malaga Financial Corp

OTC:MLGF

MLGF Rankings

MLGF Stock Data

201.95M
3.98M
1.21%
Commercial Banking
Finance and Insurance
Link
US
Palos Verdes Estates