Malaga Financial Corporation Reports Annual Earnings for 2024
Malaga Financial (MLGF) reported annual net income of $22.65 million ($2.40 per share) for 2024, a 1% decrease from $22.98 million ($2.44 per share) in 2023. Q4 2024 net income was $5.31 million, down 8% year-over-year.
The company's net interest income decreased 4% to $44.31 million in 2024, with total assets declining to $1.413 billion from $1.475 billion. The loan portfolio decreased by $30.1 million to $1.239 billion, while retail deposits fell 8% to $705.5 million.
Notable metrics include an 11.08% return on average equity and 1.58% return on average assets for 2024. The bank maintained strong capital ratios, with core capital at 15.94% and risk-based capital at 28.07%. The company declared a quarterly cash dividend of 25 cents per share and a special 5% stock dividend.
Malaga Financial (MLGF) ha riportato un utile netto annuale di 22,65 milioni di dollari (2,40 dollari per azione) per il 2024, con una diminuzione dell'1% rispetto ai 22,98 milioni di dollari (2,44 dollari per azione) del 2023. L'utile netto nel quarto trimestre del 2024 è stato di 5,31 milioni di dollari, in calo dell'8% rispetto all'anno precedente.
Il reddito netto da interessi dell'azienda è diminuito del 4%, attestandosi a 44,31 milioni di dollari nel 2024, con un totale di attivi che è sceso a 1,413 miliardi di dollari rispetto ai 1,475 miliardi di dollari. Il portafoglio prestiti è diminuito di 30,1 milioni di dollari, portando il totale a 1,239 miliardi di dollari, mentre i depositi al dettaglio sono calati dell'8%, raggiungendo 705,5 milioni di dollari.
I metriche significative includono un ritorno sull'equity medio dell'11,08% e un ritorno sugli attivi medio dell'1,58% per il 2024. La banca ha mantenuto solidi rapporti di capitale, con un capitale base al 15,94% e un capitale basato sul rischio al 28,07%. L'azienda ha dichiarato un dividendo in denaro trimestrale di 25 centesimi per azione e un dividendo speciale in azioni del 5%.
Malaga Financial (MLGF) reportó un ingreso neto anual de 22.65 millones de dólares (2.40 dólares por acción) para 2024, una disminución del 1% respecto a los 22.98 millones de dólares (2.44 dólares por acción) en 2023. El ingreso neto del cuarto trimestre de 2024 fue de 5.31 millones de dólares, con una caída del 8% interanual.
Los ingresos netos por intereses de la compañía disminuyeron un 4% a 44.31 millones de dólares en 2024, con activos totales en 1.413 mil millones de dólares, disminuyendo de 1.475 mil millones de dólares. La cartera de préstamos disminuyó en 30.1 millones de dólares hasta 1.239 millones de dólares, mientras que los depósitos minoristas cayeron un 8% hasta 705.5 millones de dólares.
Las métricas destacadas incluyen un retorno sobre el patrimonio promedio del 11.08% y un retorno sobre activos promedio del 1.58% para 2024. El banco mantuvo relaciones de capital sólidas, con un capital básico del 15.94% y un capital basado en riesgos del 28.07%. La compañía declaró un dividendo en efectivo trimestral de 25 centavos por acción y un dividendo especial en acciones del 5%.
말라가 금융 (MLGF)는 2024년 연간 순이익이 2,265만 달러(주당 2.40 달러)로 2023년 2,298만 달러(주당 2.44 달러)에서 1% 감소했다고 보고했습니다. 2024년 4분기 순이익은 531만 달러로, 전년 대비 8% 감소했습니다.
회사의 순이자 수익은 2024년에 4% 감소하여 4,431만 달러가 되었으며, 총 자산은 1,475억 달러에서 1,413억 달러로 감소했습니다. 대출 포트폴리오는 3,010만 달러 감소하여 1,239억 달러가 되었고, 소매 예금은 8% 감소하여 7억 5,050만 달러에 이르렀습니다.
주요 지표는 2024년 평균 자본에 대한 수익률이 11.08%와 평균 자산에 대한 수익률이 1.58%입니다. 은행은 기본 자본 비율이 15.94%이고 위험 기반 자본이 28.07%로 강력한 자본 비율을 유지했습니다. 회사는 주당 25센트의 분기 현금 배당금과 5%의 특별 주식 배당금을 선언했습니다.
Malaga Financial (MLGF) a rapporté un revenu net annuel de 22,65 millions de dollars (2,40 dollars par action) pour 2024, soit une diminution de 1% par rapport à 22,98 millions de dollars (2,44 dollars par action) en 2023. Le revenu net du quatrième trimestre 2024 s'élevait à 5,31 millions de dollars, en baisse de 8% d'une année sur l'autre.
Les revenus nets d'intérêts de l'entreprise ont diminué de 4% pour atteindre 44,31 millions de dollars en 2024, tandis que les actifs totaux ont diminué à 1,413 milliard de dollars contre 1,475 milliard de dollars. Le portefeuille de prêts a baissé de 30,1 millions de dollars pour atteindre 1,239 milliard de dollars, tandis que les dépôts de détail ont chuté de 8% pour atteindre 705,5 millions de dollars.
Les indicateurs notables incluent un rendement des capitaux propres moyen de 11,08% et un rendement des actifs moyen de 1,58% pour 2024. La banque a maintenu de solides ratios de capital, avec un capital de base à 15,94% et un capital à risque de 28,07%. L'entreprise a déclaré un dividende en espèces trimestriel de 25 cents par action et un dividende spécial en actions de 5%.
Malaga Financial (MLGF) berichtete für 2024 einen jährlichen Nettogewinn von 22,65 Millionen Dollar (2,40 Dollar pro Aktie), was einem Rückgang von 1% gegenüber 22,98 Millionen Dollar (2,44 Dollar pro Aktie) im Jahr 2023 entspricht. Der Nettogewinn im vierten Quartal 2024 betrug 5,31 Millionen Dollar, was einem Rückgang von 8% im Jahresvergleich entspricht.
Der Nettozinsertrag des Unternehmens fiel um 4% auf 44,31 Millionen Dollar im Jahr 2024, während die Gesamtsummen der Vermögenswerte auf 1,413 Milliarden Dollar von 1,475 Milliarden Dollar zurückgingen. Das Kreditportfolio verringerte sich um 30,1 Millionen Dollar auf 1,239 Milliarden Dollar, während sich die Einzelhandelseinlagen um 8% auf 705,5 Millionen Dollar verringerten.
Bemerkenswerte Kennzahlen sind eine Eigenkapitalrendite von 11,08% und eine Rendite auf die durchschnittlichen Vermögenswerte von 1,58% für 2024. Die Bank hielt starke Kapitalquoten aufrecht, mit einem Kernkapital von 15,94% und einem risikobasierten Kapital von 28,07%. Das Unternehmen erklärte eine vierteljährliche Bardividende von 25 Cent pro Aktie und eine spezielle Dividende von 5% in Aktien.
- Strong capital ratios well above regulatory requirements (Core: 15.94%, Risk-based: 28.07%)
- No delinquent loans over 30 days
- Credit loss recovery of $137,000 in 2024 vs expense of $73,000 in 2023
- Operating expenses decreased by $256,000 (2%)
- Maintained quarterly dividend payments
- Annual net income decreased 1% to $22.65 million
- Q4 net income dropped 8% year-over-year
- Net interest income declined 4% to $44.31 million
- Total assets decreased by $62 million
- Retail deposits fell 8% to $705.5 million
- Loan portfolio decreased by $30.1 million
PALOS VERDES ESTATES, Calif., Jan. 22, 2025 (GLOBE NEWSWIRE) -- Malaga Financial Corporation, “Company” (OTCPink:MLGF), the parent company of Malaga Bank FSB, today reported that net income for the twelve months ended December 31, 2024 was
The Company did not have any delinquent loans over 30 days or real estate owned at December 31, 2024. The Company’s allowance for credit losses was
For 2024, net interest income totaled
The Company recorded a credit loss recovery of
Other operating income decreased
The Company recorded non-operating income of
Operating expenses decreased
Randy C. Bowers, Chairman, President and CEO, remarked, “2024 was an extremely challenging year as we continued to deal with higher interest rates and inflationary pressure on expenses. Additionally, we encountered exceptionally weak loan demand and heightened competition for deposits from large banks, pushing the cost of funds higher. We offset our decrease in assets with stable net interest rate spread and decrease in operating expenses. We are pleased that in spite of these issues we were able to report strong annual earnings for the full year. We anticipate that the operating environment in 2025 will continue to be difficult with a high degree of uncertainty in a variety of areas. We are considering the various scenarios as we plan for 2025 and going forward.”
Malaga Bank’s total assets decreased to
Malaga Bank funds its assets with a mix of retail deposits, wholesale deposits and FHLB borrowings. Retail deposits totaled
As of December 31, 2024, Malaga Bank was in compliance with all applicable regulatory capital requirements and was deemed “well-capitalized” under those regulations. Core capital and risk-based capital ratios were
In the fourth quarter, the Company declared a quarterly cash dividend of 25 cents per share payable in January 2025, and a special stock dividend of
Malaga Bank, a subsidiary of Malaga Financial Corporation, is a full-service community bank headquartered on the Palos Verdes Peninsula with six offices located in the South Bay area of Los Angeles. For over fifteen years Malaga Bank has been consistently recommended by one of the nation’s leading independent bank rating and research firms, Bauer Financial Inc. Malaga Bank was awarded Bauer’s premier Top 5-Star rating for the 68th consecutive quarter as of September 2024. Since 1985, Malaga Bank has been delivering competitive banking services to residents and businesses of the South Bay, including real estate loan products custom-tailored to consumers and investors. As the largest community bank in the South Bay, Malaga is proud of its continuing tradition of relationship-based banking and legendary customer service. The Bank’s web site is located at www.malagabank.com.
| Contact: | Randy Bowers |
| Chairman, President and Chief Executive Officer | |
| Malaga Financial Corporation | |
| 310-375-9000 | |
| rbowers@malagabank.com |
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