Malaga Financial Corporation reported earnings results for the second quarter and six months ended June 30, 2018. The company reported net income for the quarter ended June 30, 2018 was $3,745,000 or $0.57 basic and fully diluted earnings per share, an increase of $627,000 or 20% from income of $3,118,000 for the quarter ended June 30, 2017. Net interest income totaled $8,099,000 in the second quarter of 2018, an increase of $93,000 or 1% from the second quarter of 2017. This resulted from an increase in average interest-earning assets of $38 million offset by a decrease in interest rate spread from 3.18% to 3.06%. This decrease in the interest spread is primarily attributed to an increase of 0.17% in yield on average interest-earning assets offset by an increase of 0.29% in yield on average interest-bearing liabilities. Net income for the six months ended June 30, 2018 was $7,594,000 or $1.16 basic and $1.15 fully diluted earnings per share compared to $6,170,000 or $0.95 basic and $0.94 fully diluted earnings per share, as adjusted for the stock dividend declared on November 16, 2017 for the six months ended June 30, 2017, a 23% increase. For the first six months 2018, the company’s annualized return on average equity was 11.78% and the annualized return on average assets was 1.45%, as compared to 10.32% and 1.24%, respectively, for the same period in 2017.