Malaga Financial Corporation reported earnings results for third quarter and nine months ended September 30, 2016. The company reported that net income for the quarter ended September 30, 2016 was $2,812,000 or $0.46 basic and fully diluted earnings per share, a decrease of $17,000 from income of $2,829,000 for the quarter ended September 30, 2015. Net interest income totaled $7,524,000 in the third quarter of 2016, an increase of $11,000 from the third quarter of 2015. This increase resulted mainly from an increase in average interest earning assets of $11.5 million partially offset by a decrease in the interest spread from 2.99% to 2.97%. Net income for the nine months ended September 30, 2016 was $8,469,000 or $1.39 basic and $1.38 fully diluted earnings per share as compared to $8,485,000 or $1.40 basic and $1.39 fully diluted earnings per share for the nine months ended September 30, 2015. Net income for the first nine months of 2016 resulted in an annualized pre-tax return on average equity of 17.09%.