On Friday, the Board of Directors of Malaga Financial Corp. announced the election of Mr. Jerry Donahue to the position of Chairman of the Board. Mr. Donahue will also serve as Chairman of their subsidiary, Malaga Bank FSB. Mr. Donahue succeeds Mr. Robert E. Kershaw, who passed away on June 10, 2011.
Randy C. Bowers, President and CEO, said, “We are delighted to announce that Jerry will assume the duties of Chairman, and pleased to have such a seasoned businessman leading our Board of Directors. We are fortunate that our entire Board of Directors has served since the opening of Malaga Bank in 1985. Their consistent leadership ensures our long-term stability as we continue to build on our existing success. Our recent ranking by US Banker as the top performing publicly traded community bank in California and the 15th best performing publicly traded community bank in the United States as of December 31, 2010 is evidence of the Board’s effective governance and direction.”
Mr. Jerry Donahue is a founding director of Malaga Bank. He served as Chairman of the Board and Chairman of the Loan Committee previously. Mr. Donahue is a Principal of Del Amo Construction, Inc. in Torrance. He is a long-time resident of Palos Verdes Estates.
Headquartered in Palos Verdes Estates, California, Malaga Bank opened their first office in Palos Verdes Estates on March 14, 1985. They are a full service community bank and they serve the financial needs of the South Bay community. Malaga Bank offers an assortment of personal banking products, business banking products and loan products. They provide real estate loan products custom-tailored to consumers and investors.
Malaga Bank is the largest community bank in the South Bay. Their tradition is relationship-based banking and exemplary customer service. Their focus is delivering competitive banking services to residents and businesses of the South Bay along with their real estate loan products.
For more information visit: www.malagabank.com