Malaga Financial Corporation reported earnings results for the third quarter and nine months ended September 30, 2017. For quarter, the company reported net income was $3,257,000 or $0.52 basic and fully diluted earnings per share, an increase of $445,000 from income of $2,812,000 for the quarter ended September 30, 2016. Net interest income totaled $8,184,000 in the third quarter of 2017, an increase of $660,000 from the third quarter of 2016. This increase resulted mainly from an increase in average interest earning assets of $12.7 million and an increase in the interest spread from 2.97% to 3.19%. For the nine months, the company reported net income for the nine months ended September 30, 2017 was $9,427,000 or $1.52 basic and $1.51 fully diluted earnings per share as compared to $8,469,000 or $1.39 basic and $1.38 fully diluted earnings per share for the nine months ended September 30, 2016. Net income for the first nine months of 2017 resulted in an annualized pre-tax return on average equity of 17.59%.