Malaga Financial Corporation announced earnings results for the third quarter and first nine months ended September 30, 2018. For the quarter, the company reported net income was $3,866,000 ($0.58 basic and fully diluted earnings per share), an increase of $609,000 or 19% from income of $3,257,000 for the quarter ended September 30, 2017. Net interest income totaled $8,103,000 in the third quarter of 2018, a decrease of $81,000 or 1% from the third quarter of 2017. This resulted mainly from a decrease in interest rate spread from 3.19% to 3.07% offset by increase of $21,565,000 in interest earning assets. This decrease in the interest spread is primarily attributed to an increase of 0.18% in yield on average interest-earning assets offset by an increase of 0.30% in yield on average interest-bearing liabilities. For the first nine months, the company announced net income was $11,460,000 ($1.74 basic and $1.73 fully diluted earnings per share) compared to $9,427,000 ($1.45 basic and $1.44 fully diluted earnings per share, as adjusted for the stock dividend declared on November 16, 2017) for the nine months ended September 30, 2017, a 22% increase. For the first nine months of 2018, the company’s annualized return on average equity was 11.74% and the annualized return on average assets was 1.45%, as compared to 10.43% and 1.25%, respectively, for the same period in 2017.