PALOS VERDES ESTATES, Calif., June 27, 2019 (GLOBE NEWSWIRE) -- Malaga Financial Corporation (OTCPink:MLGF) The Board of Directors of Malaga Financial Corporation announced today 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.

Malaga Bank, a subsidiary of Malaga Financial Corporation, is a full-service community bank with assets over $1 billion, headquartered on the Palos Verdes Peninsula with six offices located in the South Bay area of Los Angeles.  For over ten 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 their premier Top 5-Star rating for the 46^th consecutive quarter as of March 2019.  Since 1985 Malaga 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.