Malaga Financial Corporation reported earnings results for the first quarter ended March 31, 2018. For the quarter, the company reported net income of $3,849,000 ($0.59 basic and $0.58 fully diluted earnings per share), an increase of $797,000 or 26% from net income of $3,052,000 ($0.49 basic and fully diluted earnings per share) for the quarter ended March 31, 2017. Pre-tax net income increased by 6% to $5,267,000 for the first quarter ended March 31, 2018 compared to $4,985,000 for the first quarter 2017. For the first quarter 2018, the Company’s annualized return on average equity was 12.03% and the annualized return on average assets was 1.48%, as compared to 10.27% and 1.24%, respectively, for the same period in 2017. Net interest income totaled $8,132,000 in the first quarter of 2018, an increase of $341,000 or 4% from the first quarter of 2017. This resulted from an increase in the average interest-earning assets of $49 million offset by a decrease in the interest rate spread from 3.15% to 3.11%. The decrease in the interest rate spread is primarily attributable to an increase of 0.13% in yield on average interest-earning assets offset by an increase of 0.17% in yield on average interest-bearing liabilities.