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Magyar Bancorp, Inc.
MGYRCIK 0001337068NasdaqNon-AcceleratedSmaller ReportingSavings Institution, Federally CharteredFY ends Sep 30
Period
FY 2025
Revenue
—
Net Income
$9.76M
Total Assets
$997.66M
Equity
$118.84M
Shares Out
6.46M
Op. Cash Flow
$10.39M
Business
Magyar Bancorp, Inc. is a bank holding company that owns Magyar Bank, a New Jersey-chartered savings bank. The Bank attracts retail deposits from communities in Middlesex and Somerset Counties, New Jersey, and invests them in commercial real estate loans, residential mortgages, commercial business loans, SBA loans, home equity products, construction loans, and investment securities. Revenues derive from interest on loans and securities, plus fees and service charges. The Bank operates eight locations and competes with larger regional and money center banks, credit unions, and other financial institutions in its market area.
Summary from 10-K filed 2025-12-19
Financials
Consolidated Statement of Income
Year Ended · In millions, except per-share amounts
| Concept | Trend | FY 2025 2025-09-30 | FY 2024 2024-09-30 | FY 2023 2023-09-30 | FY 2022 2022-09-30 | FY 2021 2021-09-30 |
|---|---|---|---|---|---|---|
| Loans, including fees | 50 | 43 | 35 | 28 | 28 | |
| Taxable | 5 | 5 | 3 | 2 | 877,000 | |
| Tax-exempt | 58,000 | 58,000 | 58,000 | 41,000 | 5,000 | |
| Federal Home Loan Bank of New York stock | 211,000 | 220,000 | 139,000 | 78,000 | 95,000 | |
| Total interest and dividend income | 55 | 49 | 38 | 30 | 29 | |
| Deposits | 22 | 20 | 9 | 2 | 2 | |
| Borrowings | 1 | 872,000 | 846,000 | 414,000 | 654,000 | |
| Total interest expense | 23 | 21 | 10 | — | — | |
| Net interest and dividend income | 32 | 28 | 28 | 27 | 26 | |
| Provision for credit losses-loans | 653,000 | 182,000 | 381,000 | — | — | |
| Recovery for credit losses-unfunded commitments | −251,000 | −92,000 | — | — | — | |
| Total provision for credit losses | 402,000 | 90,000 | 381,000 | — | — | |
| Net interest and dividend income after provision for credit losses | 31 | 28 | 27 | 27 | 24 | |
| Service charges | 1 | 1 | 2 | 1 | 1 | |
| Income on bank owned life insurance | 673,000 | 433,000 | 370,000 | 372,000 | 317,000 | |
| Interest rate swap fees | 179,000 | — | 57,000 | 76,000 | 313,000 | |
| Other operating income | 58,000 | 81,000 | 89,000 | 87,000 | 110,000 | |
| Gains on premises and equipment | — | 60,000 | 9,000 | — | — | |
| Gains on SBA loans | 1 | 599,000 | 565,000 | 925,000 | 749,000 | |
| Net gains on OREO | 229,000 | 1 | — | — | — | |
| Total other income | 4 | 4 | 3 | — | — | |
| Compensation and employee benefits | 13 | 12 | 784,000 | 546,000 | 11 | |
| Occupancy expenses | 3 | 3 | 3 | 3 | 3 | |
| Professional fees | 705,000 | 794,000 | 755,000 | 1 | 2 | |
| Director fees and benefits | 787,000 | 789,000 | — | — | — | |
| Data processing expenses | 471,000 | 542,000 | 579,000 | 556,000 | 528,000 | |
| Marketing and business development | 438,000 | 402,000 | 366,000 | 447,000 | 226,000 | |
| FDIC deposit insurance premiums | 451,000 | 421,000 | 340,000 | 215,000 | 422,000 | |
| Other expenses | 2 | 2 | 2 | 2 | 2 | |
| Total other expenses | 21 | 20 | — | — | — | |
| Income before income tax expense | 14 | 11 | 11 | 11 | 9 | |
| Income tax expense | 4 | 3 | 3 | 3 | 3 | |
| Net income | 10 | 8 | 8 | 8 | 6 | |
| Earnings per share - basic (in Dollars per share) | 1.57 | 1.23 | 1.2 | 1.17 | 1.01 | |
| Earnings per share - diluted (in Dollars per share) | 1.56 | 1.23 | 1.2 | 1.17 | 1.01 | |
| Weighted average shares outstanding - basic (in Shares) | 6 | 6 | 6 | 7 | 6 | |
| Weighted average shares outstanding - diluted (in Shares) | 6 | 6 | 6 | 7 | 6 |
Consolidated Balance Sheet
As of · In millions, except per-share amounts
| Concept | Trend | FY 2025 2025-09-30 | FY 2024 2024-09-30 | FY 2023 2023-09-30 | FY 2022 2022-09-30 | FY 2021 2021-09-30 |
|---|---|---|---|---|---|---|
| Cash and due from banks | 1 | 2 | 3 | — | — | |
| Interest earning deposits with banks | 6 | 24 | 69 | 28 | 73 | |
| Total cash and cash equivalents | 7 | 26 | 73 | 31 | 75 | |
| Investment securities - available for sale, at fair value | 21 | 16 | 10 | 9 | 13 | |
| Investment securities - held to maturity, at amortized cost (fair value of $61,160 and $72,617 at September 30, 2025 and 2024, respectively) | 67 | 80 | 86 | 92 | — | |
| Federal Home Loan Bank of New York stock, at cost | 3 | 2 | 2 | 1 | 2 | |
| Loans receivable | 857 | 780 | 697 | 620 | — | |
| Allowance for credit losses-loans | −8 | −8 | — | — | — | |
| Bank owned life insurance | 19 | 23 | 18 | 18 | 14 | |
| Accrued interest receivable | 6 | 5 | 4 | 3 | 4 | |
| Premises and equipment, net | 12 | 13 | 13 | 14 | 14 | |
| Other real estate owned (OREO) | 2 | 4 | 328,000 | 281,000 | 636,000 | |
| Other assets | 11 | 11 | 11 | 10 | 8 | |
| Total assets | 998 | 952 | 907 | 799 | 774 | |
| Deposits | 814 | 797 | 755 | 668 | 640 | |
| Escrowed funds | 4 | 4 | 3 | — | — | |
| Borrowings | 49 | 29 | 30 | — | — | |
| Accrued interest payable | 969,000 | 891,000 | 443,000 | 85,000 | 85,000 | |
| Accounts payable and other liabilities | 10 | 11 | 14 | 13 | 10 | |
| Total liabilities | 879 | 841 | 803 | 700 | 676 | |
| Preferred stock: $.01 Par Value, 500,000 shares authorized; at September 30, 2025 and 2024, none issued | — | — | — | — | — | |
| Common stock: $.01 Par Value, 14,000,000 shares authorized; 7,097,825 shares issued; 6,480,028 and 6,509,358 shares outstanding at September 30, 2025 and 2024, respectively, at cost | 71,000 | 71,000 | 71,000 | 71,000 | 71,000 | |
| Additional paid-in capital | 63 | 63 | 63 | 64 | — | |
| Treasury stock: 617,797 and 588,467 shares at September 30, 2025 and 2024, respectively, at cost | −8 | −7 | −5 | −6 | −1 | |
| Unearned Employee Stock Ownership Plan shares | −3 | −3 | −3 | — | — | |
| Retained earnings | 67 | 59 | 52 | 46 | 39 | |
| Accumulated other comprehensive loss | −523,000 | −916,000 | −2 | −2 | −947,000 | |
| Total stockholders equity | 119 | 111 | 105 | 99 | 98 | |
| Total liabilities and stockholders equity | 998 | 952 | 907 | 799 | 774 |
Consolidated Statement of Cash Flows
Year Ended · In millions, except per-share amounts
| Concept | Trend | FY 2025 2025-09-30 | FY 2024 2024-09-30 | FY 2023 2023-09-30 | FY 2022 2022-09-30 | FY 2021 2021-09-30 |
|---|---|---|---|---|---|---|
| Depreciation expense | 937,000 | 890,000 | 840,000 | 839,000 | 835,000 | |
| (Discount) premium (accretion) amortization on investment securities, net | −18,000 | 63,000 | 137,000 | 191,000 | 167,000 | |
| Provision for loss on other real estate owned | 57,000 | — | — | — | 337,000 | |
| Originations of SBA loans held for sale | −12 | −6 | −6 | −10 | −6 | |
| Proceeds from the sales of SBA loans | 13 | 7 | 7 | 10 | 7 | |
| Gains on sale of SBA loans | −1 | −599,000 | −565,000 | −925,000 | −749,000 | |
| Gains on the sales of other real estate owned | −286,000 | −1 | — | — | — | |
| ESOP compensation expense | 187,000 | 155,000 | — | — | 107,000 | |
| Stock-based compensation expense | 621,000 | 646,000 | 664,000 | 6,000 | — | |
| Deferred income tax (benefit) expense | −348,000 | 33,000 | −615,000 | 152,000 | −178,000 | |
| Increase in accrued interest receivable | −742,000 | −719,000 | −859,000 | 55,000 | 497,000 | |
| Income on bank owned life insurance | −673,000 | −433,000 | −370,000 | −372,000 | −317,000 | |
| Decrease in other assets | 1 | 1 | −795,000 | −2 | −2 | |
| Increase in accrued interest payable | 78,000 | 448,000 | 358,000 | — | −106,000 | |
| Decrease in accounts payable and other liabilities | −648,000 | −3 | 921,000 | 4 | 2 | |
| Net cash provided by operating activities | 10 | 6 | 8 | 11 | 9 | |
| Net increase in loans receivable | −84 | −87 | — | — | — | |
| Purchases of loans receivable | — | −1 | −13 | — | −4 | |
| Proceeds from the sale of loans receivable | 7 | — | — | 2 | 2 | |
| Purchases of investment securities held-to-maturity | −4 | −7 | −5 | −41 | −39 | |
| Purchases of investment securities available-for-sale | −7 | −6 | −2 | — | −11 | |
| Proceeds from maturities of investment securities held-to-maturity | 12 | — | — | — | — | |
| Principal repayments on investment securities held-to-maturity | 5 | 12 | 10 | 7 | 10 | |
| Principal repayments on investment securities available-for-sale | 2 | 1 | — | — | — | |
| Purchase of bank owned life insurance | — | −7 | — | — | — | |
| Redemption of bank owned life insurance | 5 | 2 | — | — | — | |
| Purchases of premises and equipment, net | −574,000 | −812,000 | — | −3 | — | |
| Proceeds from the sale of premises and land | — | 776,000 | — | — | — | |
| Proceeds from the sale of other real estate owned | 2 | 1 | — | — | — | |
| Purchase of Federal Home Loan Bank stock | −3 | −286,000 | −6 | −466,000 | — | |
| Redemption of Federal Home Loan Bank stock | 2 | 222,000 | 5 | 757,000 | — | |
| Net cash used in investing activities | −64 | −90 | −66 | −70 | −8 | |
| Net increase in deposits | 18 | 41 | 88 | 28 | 21 | |
| Net (decrease) increase in escrowed funds | −101,000 | 816,000 | 87,000 | 165,000 | 829,000 | |
| Proceeds from long-term advances | 24 | 3 | 19 | 3 | — | |
| Repayments of long-term advances | −4 | −4 | −5 | −11 | −44 | |
| Dividends paid on common stock | −2 | −2 | — | — | — | |
| Purchase of treasury stock | −844,000 | −2 | −1 | −5 | — | |
| Net cash provided by financing activities | 35 | 37 | 99 | 14 | 12 | |
| Net decrease in cash and cash equivalents | −19 | −47 | — | — | 13 | |
| Interest | 23 | 20 | 10 | 2 | 3 | |
| Income taxes | 6 | 3 | 3 | 3 | 3 | |
| Real estate acquired in full satisfaction of loans in foreclosure | — | 4 | — | — | — | |
| Adoption of ASU 2016-13 | — | 354,000 | — | — | — | |
| Change in fair value of swap asset/liability | −494,000 | −1 | 92,000 | — | — |
Filings
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Frequently asked questions
What is Magyar Bancorp, Inc.'s CIK number?
Magyar Bancorp, Inc.'s SEC CIK number is 0001337068 (1337068). The CIK (Central Index Key) is the permanent identifier the SEC assigns to every EDGAR filer — unlike a ticker symbol, it never changes.
Where can I find Magyar Bancorp, Inc.'s SEC filings?
All of Magyar Bancorp, Inc.'s EDGAR filings — 10-K annual reports, 10-Q quarterly reports, 8-K material events, and insider transactions — are listed on this page, sourced live from SEC EDGAR.
When did Magyar Bancorp, Inc. last report earnings?
Magyar Bancorp, Inc. (MGYR) most recently filed an earnings 8-K with the SEC on Apr 23, 2026, furnishing its results under Item 2.02 (Results of Operations and Financial Condition). The earnings press release is attached to that filing (accession 0001174947-26-000505). This is Magyar Bancorp, Inc.'s most recent earnings filing of record — not a forecast of its next earnings date.
What is Magyar Bancorp, Inc.'s most recent earnings 8-K?
Magyar Bancorp, Inc.'s latest earnings 8-K (Item 2.02) was filed Apr 23, 2026 under accession 0001174947-26-000505. It carries the quarterly or annual earnings press release — the earliest official, SEC-filed version of the results.
View Magyar Bancorp, Inc.'s latest earnings 8-K →
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