PALOS VERDES ESTATES, Calif.--()--Malaga Financial Corporation (OTCBB:MLGF) announced today the declaration of a cash dividend in the amount of 15 cents per share to shareholders of record on March 29, 2013. The dividend will be paid out on or about April 5, 2013. Randy C. Bowers, President and CEO, remarked, “We are pleased to have reported our 7th consecutive year of record profits in 2012 and to have received a top 5 Star rating by an independent rating firm, Bauer Financial Inc. for 21 consecutive quarters. In addition, today we are celebrating the 28th anniversary of the opening of Malaga Bank on March 14, 1985. 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 the #1 performing thrift in the nation for three consecutive years by SNL Financial. 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.