Malaga Financial Corporation Announces 38th Consecutive Quarterly Cash Dividend
Malaga Financial Corporation Announces 38thConsecutive Quarterly Cash Dividend
PALOS VERDES ESTATES, Calif.--(BUSINESS WIRE)-- Malaga Financial Corporation(OTCBB:MLGF) Malaga Financial Corporation announced today the declaration of a cash dividend in the amount of 15 cents per share to shareholders of record on September 27, 2013. The dividend will be paid out on or about October 7, 2013.
Randy C. Bowers, President and CEO, remarked, "We are pleased to announce our 38th consecutive quarterly dividend. Throughout the financial crisis over the last 5+ years the disciplined execution of our business plan has resulted in strong earnings and allowed us to consistently reward our shareholders for their loyal support. We look forward to continuing to serve and support the South Bay community."
Malaga Bank, a subsidiary of MFC, is a full-service community bank headquartered on the Palos Verdes Peninsula with six offices located in the South Bay area of Los Angeles. It has been ranked among the top 200 Community Banks in the United States as published in the May 2013 issue of American Banker Magazine.The rankings were based on average return on equity for the 3 year period ending December 31, 2012.Malaga was the top ranked institution located in California and was ranked #9 among the top 200 in the nation. Since 1985 Malaga 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.
Malaga Financial Corporation
Randy Bowers, 310-375-9000
President and Chief Executive Officer
KEYWORDS: United States North America California
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