The board of directors of Malaga Financial Corporation announced the election of Randy C. Bowers to the position of Chairman of the Board. Mr. Bowers will also serve as Chairman of its subsidiary, Malaga Bank FSB. Mr. Bowers has served as President and Chief Executive Officer of Malaga Financial Corporation and Malaga Bank since 2006 and will now assume the responsibilities as Chairman of the Board in addition to continuing as President and Chief Executive Officer of both organizations. Mr. Bowers joined Malaga Bank in 2002 as Executive Vice President and Chief Lending Officer.