Malaga Bank Ranked No. 1 California Community Bank

Malaga Bank, which is owned by Palos Verdes-based Malaga Financial Corporation, was named the No. 1 community bank in California in American Banker magazine's May 2013 issue.

Malaga Bank was also ranked No. 9 among community banks across the entire United States, according to a news release from the organization.

The rankings are based on average return on equity for the three-year period ending Dec. 31, 2012.

"On numerous occasions over the last several years we have been recognized for both our financial performance and the safety of our institution," President and CEO Randy C. Bowers said in a statement. "We look forward to continuing to serve and support the South Bay community."

Malaga Bank is the largest community bank in the South Bay, where it has six offices.