Welcome to our dedicated page for Magyar Bancorp news (Ticker: MGYR), a resource for investors and traders seeking the latest updates and insights on Magyar Bancorp stock.
Magyar Bancorp, Inc. (NASDAQ: MGYR) provides essential banking services to New Jersey communities through its Magyar Bank subsidiary. This news hub offers investors and stakeholders timely access to official press releases, financial disclosures, and strategic updates from the community-focused institution.
Track key developments including quarterly earnings reports, regulatory filings, leadership announcements, and initiatives supporting local businesses through SBA loan programs. The curated collection enables users to monitor the company's performance in residential mortgages, commercial real estate lending, and deposit services within New Jersey's competitive banking landscape.
Regular updates on risk management practices, interest rate strategies, and community reinvestment programs provide insights into the bank's operational stability. Bookmark this page for direct access to primary source materials that inform analysis of Magyar Bancorp's market position and financial health.
Magyar Bancorp reported strong financial results for Q2 2025, with net income surging 41% to $2.7 million compared to $1.9 million in Q2 2024. The company's six-month net income reached $4.8 million, up from $3.5 million year-over-year.
Key highlights include:
- Earnings per share increased to $0.43 from $0.30
- Net interest margin expanded to 3.31%
- Total assets grew 7.3% to $1.0 billion
- Non-performing loans decreased to just 0.01% of total loans
The bank declared a quarterly cash dividend of $0.06 per share, payable May 28, 2025. President and CEO John Fitzgerald attributed the strong performance to sound lending practices, proactive balance sheet management, and focus on community relationships. The company's book value per share improved to $17.65, reflecting solid operational results despite market volatility.
Magyar Bancorp (NASDAQ: MGYR) reported strong Q1 2025 financial results with a 26% increase in net income to $2.1 million compared to $1.7 million in Q1 2024. The company's earnings per share improved to $0.34 basic and $0.33 diluted, up from $0.26 in the previous year.
Total assets surpassed $1 billion, driven by a 6.5% increase in total deposits to $848.8 million. Net interest and dividend income rose 2.8% to $7.4 million, while the net interest margin slightly decreased to 3.22%. The company declared a quarterly cash dividend of $0.06 per share, payable on February 20, 2025.
Notable improvements include a 57% increase in other income to $956,000, reduced provisions for credit losses, and maintained asset quality with non-performing loans at just 0.04% of total loans. The company's book value per share increased to $17.23, supported by operational results despite share repurchases.
Magyar Bancorp (NASDAQ: MGYR) announced that its Board of Directors has declared a special cash dividend of $0.04 per share. The dividend will be payable on December 20, 2024 to shareholders of record as of December 6, 2024.
Magyar Bancorp (NASDAQ: MGYR) reported Q4 and fiscal year 2024 financial results. Net income reached $2.5 million for Q4 2024, up from $2.2 million in Q4 2023, and $7.8 million for FY2024, compared to $7.7 million in FY2023. Earnings per share were $0.41 for Q4 and $1.23 for FY2024. The company declared a quarterly dividend of $0.05 per share. Notable achievements include a 12% annual increase in loan portfolio and net-interest margin improvement from 3.02% to 3.08% on a linked quarter basis. Magyar also announced the opening of a new branch office in Martinsville.
Magyar Bancorp (NASDAQ: MGYR) reported financial results for Q3 2024. The company's net income was $1.7 million for the quarter and $5.2 million for the nine months ended June 30, 2024. Basic and diluted earnings per share were $0.27 for Q3 and $0.83 for the nine-month period. The Board declared a quarterly cash dividend of $0.05 per share, payable on August 22, 2024.
Michael R. Lombardi was elected as a Director. The company faced challenges due to the interest rate environment, impacting net interest margin. However, continued loan growth helped mitigate some effects. Non-performing loans decreased to 0.60% of total loans. Magyar Bancorp also announced plans to open a new branch office in Martinsville, New Jersey.
FAQ
What is the current stock price of Magyar Bancorp (MGYR)?
What is the market cap of Magyar Bancorp (MGYR)?
