Magyar Bancorp Inc   (MGYR)
Other Ticker:  
    Sector  Financial    Industry S&Ls Savings Banks
   Industry S&Ls Savings Banks
   Sector  Financial
Price: $11.2800 $0.08 0.715%
Day's High: $11.28 Week Perf: -1.48 %
Day's Low: $ 11.10 30 Day Perf: -1.05 %
Volume (M): 2 52 Wk High: $ 12.65
Volume (M$): $ 17 52 Wk Avg: $10.59
Open: $11.11 52 Wk Low: $9.00

 Market Capitalization (Millions $) 72
 Shares Outstanding (Millions) 6
 Employees 89
 Revenues (TTM) (Millions $) 30
 Net Income (TTM) (Millions $) 8
 Cash Flow (TTM) (Millions $) 43
 Capital Exp. (TTM) (Millions $) 0

Magyar Bancorp Inc

Magyar Bancorp, Inc. is the mid-tier stock holding company of Magyar Bank. Magyar Bancorp, Inc. is a Delaware-chartered corporation and owns 100% of the outstanding shares of common stock of Magyar Bank. Magyar Bancorp, Inc. has not engaged in any significant business activity other than owning all of the shares of common stock of Magyar Bank. The executive offices of Magyar Bancorp, Inc. are located at 400 Somerset Street, New Brunswick, New Jersey 08901, and its telephone number is (732) 342-7600. Magyar Bancorp, Inc. is subject to comprehensive regulation and examination by the FRB and the NJDBI.

Magyar Bank is a New Jersey-chartered savings bank headquartered in New Brunswick, New Jersey that was originally founded in 1922 as a New Jersey building and loan association. In 1954, Magyar Bank converted to a New Jersey savings and loan association, before converting to a New Jersey savings bank charter in 1993. We conduct business from our main office located at 400 Somerset Street, New Brunswick, New Jersey, and our six branch offices located in New Brunswick, North Brunswick, South Brunswick, Branchburg, Bridgewater, and North Edison, New Jersey. The telephone number at our main office is (732) 342-7600.

Our principal business consists of attracting retail deposits from the general public in the areas surrounding our main office in New Brunswick, New Jersey and our branch offices located in Middlesex and Somerset Counties, New Jersey, and investing those deposits, together with funds generated from operations and wholesale funding, in residential mortgage loans, home equity loans, home equity lines of credit, commercial real estate loans, commercial business loans, Small Business Administration (“SBA”) loans, construction loans and investment securities. We also originate consumer loans, which consist primarily of secured demand loans. We originate loans primarily for our loan portfolio. However, from time to time we have sold some of our long-term fixed-rate residential mortgage loans into the secondary market, while retaining the servicing rights for such loans. Our revenues are derived principally from interest on loans and securities. Our investment securities consist primarily of mortgage-backed securities and U.S. Government and government-sponsored enterprise obligations. We also generate revenues from fees and service charges. Our primary sources of funds are deposits, borrowings and principal and interest payments on loans and securities. We are subject to comprehensive regulation and examination by the New Jersey Department of Banking and Insurance and the Federal Deposit Insurance Corporation (“FDIC”).

We originate residential mortgage loans to purchase or refinance residential real property.

We commence collection efforts when a loan becomes 15 days past due with system-generated reminder notices. Subsequent late charge and delinquent notices are issued and the account is monitored on a regular basis thereafter. Personal, direct contact with the borrower is attempted early in the collection process as a courtesy reminder and later to determine the reason for the delinquency and to safeguard our collateral. When a loan is more than 60 days past due, the credit file is reviewed and, if deemed necessary, information is updated or confirmed and collateral re-evaluated. We make every effort to contact the borrower and develop a plan of repayment to cure the delinquency. Loans are placed on non-accrual status when they are delinquent for more than three months. When loans are placed on non-accrual status, unpaid accrued interest is fully reversed, and further income is recognized only to the extent received.

Our Board of Directors has adopted our Investment Policy. This policy determines the types of securities in which we may invest. The Investment Policy is reviewed annually by the Board of Directors and changes to the policy are subject to approval by our Board of Directors. While general investment strategies are developed by the Asset and Liability Committee, the execution of specific actions rests primarily with our President and our Chief Financial Officer. They are responsible for ensuring the guidelines and requirements included in the Investment Policy are followed and only prudent securities are considered for investment. They are authorized to execute transactions that fall within the scope of the established Investment Policy up to $2.5 million per transaction individually or $5.0 million per transaction jointly. Investment transactions in excess of $5.0 million must be approved by the Asset and Liability Committee. Investment transactions are reviewed and ratified by the Board of Directors at their regularly scheduled meetings.

   Company Address: 400 Somerset Street New Brunswick 8901 NJ
   Company Phone Number: 342-7600   Stock Exchange / Ticker: NASDAQ MGYR

Customers Net Income fell by MGYR's Customers Net Profit Margin fell to

-4.35 %

11.18 %

• Customers Performance • Customers Expend. • Customers Efficiency • List of Customers


Stock Performances by Major Competitors

5 Days Decrease / Increase
KRNY   -2.3%    
PFS   -0.98%    
LBAI   -1.93%    
OCFC   -0.33%    
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Magyar Bancorp Inc

Magyar Bancorp Inc Sees Revenue Surge of 2.803% but Faces Income Setback in Latest Financial Results

Magyar Bancorp Inc, a prominent player in the S&Ls Savings Banks industry, recently released its financial results for the fiscal period ending December 31, 2023. While the company witnessed a moderate increase in revenue, its income experienced a substantial decline compared to the previous reporting period. This article will delve into Magyar Bancorp Inc's financials, analyze its performance, and put the results into context.
Revenue Growth and Income Reduction
Despite a modest top-line growth of 2.803%, Magyar Bancorp Inc faced a significant income reduction of -7.14% in the fiscal period ending December 31, 2023, compared to the same period a year ago. The company reported revenues of $7.37 million, with earnings per share (EPS) standing at $0.26.

Magyar Bancorp Inc

Magyar Bancorp Inc. Reports 90% Surge in Earnings Per Share Despite Slight Revenue Decline in Q4 2023

Magyar Bancorp Inc, a Savings and Loan Savings Banks company, recently released its financial report for the July to September 30, 2023 fiscal period. Despite a decline in revenue, the company managed to raise its earnings per share, which is positive news for investors.
In this fiscal period, Magyar Bancorp Inc saw its income per share rally by an impressive 90.19% to $0.34 per share. However, revenue decreased by -2.94% to $7.89 million compared to the same period last year. It's worth noting that in the previous reporting season, income per share increased from $0.30 per share, and revenue also increased by 3.925% from $7.59 million.

Magyar Bancorp Inc

Magyar Bancorp Inc experiences drop in earnings despite revenue increase during third quarter of 2023 earnings season

Magyar Bancorp Inc's recently released financial results for the third quarter of 2023 present a mixed bag of figures. While revenue saw a slight improvement of 2.112%, income faced a decline of -3.23% compared to the same reporting season the previous year. This article will delve into the implications of these figures and speculate on their potential impact on the company moving forward.
Revenue and Income:
Despite the modest revenue growth to $7.59 million, the -3.23% decline in income raises concerns. This dip in profitability indicates potential challenges faced by Magyar Bancorp Inc, warranting further examination of the underlying factors contributing to the drop.

Magyar Bancorp Inc

Magyar Bancorp Inc Defies Economic Uncertainty with Impressive 7.328% Revenue Boost!

Magyar Bancorp Inc is a US-based financial institution that was founded in 1922. It offers a range of banking services, including personal and business banking, commercial lending, and wealth management. The bank serves communities in New Jersey, with a focus on Middlesex and Somerset counties.
For the second quarter of 2023, Magyar Bancorp Inc reported net profit per share that remained unaffected at $0.28 per share compared to $0.00 a year ago. The income per share also remained unaffected from the prior reporting period at $0.28 per share. While this may seem like there was no significant growth, it is important to note that the company was able to maintain its revenue amid an uncertain economic climate.


Magyar Bancorp Inc's Segments
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