Yesterday, Malaga Financial Corporation announced that it has been ranked the top-performing thrift in the United States. This ranking is for the most recent 12 month period ending March 31, 2010. Malaga Financial Corporation is the parent company of Malaga Bank FSB.
SNL Financial ranked the 100 largest publicly traded thrifts. They ranked them according to various performance metrics. They then weighted the rankings and gave each institution a final composite score. The metrics were 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.
Randy Bowers, Malaga Financial Corporation President and CEO, said, “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 #1 ranking are a result of the disciplined execution of our business plan with its focus on customer service and conservative, prudent business practices.”
Malaga Financial Corporation received a score of 95.80. This score surpassed the #2 ranking of 90.70. The Company ranked in the top five in five of the six metrics. They had the highest core ROAA and the second highest ROAE. They also grew deposits by 28 percent compared to a median of only 8 percent and loans by 3 percent compared to a median loss of 2 percent for the group, during the ranking period. In addition the Company had a return of over 75 percent on their common stock during the ranking period.
Malaga Financial Corporation’s subsidiary, Malaga Bank, is a full-service community bank. They have their headquarters on the Palos Verdes Peninsula in California with branch offices located on the Peninsula, in Torrance, and San Pedro. They provide banking services to residents and businesses of the South Bay. This includes real estate loan products custom-tailored to consumers and investors. They are the largest community bank in the South Bay.
For more information visit: www.malagabank.com.
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