Two men named Drummond and McKelpin, both Loyalists, were thought to be among the earliest settlers of Malta but left the area as Revolutionary War activity increased.
John Hunter and Ashbel Andrews were also early settlers (c. 1774), along with Michael Dunning (from Connecticut) and his family of a wife, six sons, and three daughters. Other early settlers were John Rhodes, Jehiel Parks, Luther Landon, Dean Chase, Ebenezer Valentine, Ebenezer Dibble, Ebenezer Millard, Obadiah Tompkins, Reuben Doolittle, Cornelius Abeel, Robert Hemple, and William Marvin.
The first town meeting was held at the home of Michael Dunning Sr. on April 6, 1802. By 1813, Malta had 211 property owners, and more schoolhouses needed to be built. By 1828, public funds spent on education totaled $531.81 for 456 students; by 1878, spending was $1068 for 451 students—twice the cost of 50 years earlier.