Magyar Bancorp FY2026 earnings climb to $12.6M
The $0.12 quarterly cash dividend is payable November 24, 2026, to shareholders of record at the close of business November 10, 2026.
Sentiment and the balance of points
Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.
Rhea-AI Filing Summary
Magyar Bancorp, Inc. (MGYR) reported net income of $3.3 million for the three months ended September 30, 2026, up 30.8% from $2.5 million a year earlier, and fiscal-year net income of $12.6 million, up 28.7% from $9.8 million. Net interest and dividend income increased 18.5% to $10.0 million for the quarter and 17.5% to $37.5 million for the year. Net interest margin was 3.84% for the quarter and 3.69% for the year, up 37 and 35 basis points, respectively, from the prior-year periods.
Fiscal-year credit loss provisions were $946,000, compared with $402,000 a year earlier, while non-interest income decreased 15.5% to $3.1 million. At September 30, 2026, total assets were $1.086 billion and book value per share was $19.85. Over the year ended September 30, 2026, total loans receivable rose $49.3 million, or 5.7%, to $908.2 million and deposits rose $73.0 million, or 9.0%, to $887.3 million. The Board declared a quarterly cash dividend of $0.12 per common share, its second dividend increase in fiscal 2026.
How this balance works
Rhea-AI gives every point it takes from this document a weight. Minor counts 1, Moderate 3 and Major 9, so one Major point outweighs several Minor ones. The bar adds up the weights on each side, and when neither side holds more than 65% of the total the balance reads Mixed.
It reads the document as published, with the same rules for every company, and it does not look at what the market expected or at how the stock traded, so a point can be objectively good on a day the stock falls.
Rhea-AI Sentiment measures something else, the tone of the wording.
Positive
- Moderate pointNet income rose 30.8% quarterly and 28.7% annually, reaching $12.6 million for fiscal 2026.
- Minor pointThe quarterly cash dividend increased to $0.12 per share.
Negative
- Minor pointFiscal-year non-interest income declined 15.5% to $3.1 million.
Filing Explained
By September 30, 2026, the company had completed 51,503 repurchases; the plan's 323,547-share maximum is authority, not a promised total.
By
The company also estimated that
8-K Event Classification
Key Figures
Key Terms
net interest margin financial
credit loss provisions financial
non-performing loans financial
other real estate owned financial
Earnings Snapshot
Management said it feels the Bank is well positioned to continue its strong performance in 2027.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
How much did MGYR earn in fiscal 2026?
When is MGYR's $0.12 dividend payable?
How did MGYR's loans and deposits change in fiscal 2026?
AI-generated analysis. How Rhea-AI works. Not financial advice.
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(D) OF
THE SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported):
(Exact Name of Registrant as Specified in Charter)
| (State or Other Jurisdiction) | (Commission File No.) | (I.R.S. Employer |
| of Incorporation) | Identification No.) | |
| (Address of Principal Executive Offices) | (Zip Code) |
Registrant's telephone number, including area code:
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
| Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
| Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Securities registered pursuant to Section 12(b) of the Act:
| Title of Each Class | Trading Symbol(s) | Name of Each Exchange on Which Registered | ||
|
|
The |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging Growth Company
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
| Item 2.02. | Results of Operations and Financial Condition |
On October 28, 2026, Magyar Bancorp, Inc. (the “Company”) issued a press release regarding its results of operations and financial condition at and for the three and twelve months ended September 30, 2026. The text of the press release is included as Exhibit 99.1 to this report. The information included in the press release text is considered to be “furnished” under the Securities Exchange Act of 1934. The Company will include financial statements and additional analyses at and for the three and twelve months ended September 30, 2026, as part of its Form 10-K for the period.
| Item 8.01. | Other Events |
On October 28, 2026, the Company announced that its Board of Directors has approved a quarterly cash dividend of $0.12 per common share to shareholders of record at the close of business on November 10, 2026, payable on November 24, 2026.
The text of the press release, dated October 28, 2026, announcing the dividend, and which also includes the Company’s quarterly earnings announcement, as stated above, is included as Exhibit 99.1 to this report and is incorporated herein by reference.
| Item 9.01. | Financial Statements and Exhibits |
| (a) | Not applicable. |
| (b) | Not applicable. |
| (c) | Not applicable |
| (d) | Exhibits |
| Exhibit | Description | |
| 99.1 | Press Release Dated October 28, 2026 | |
| 104 | The cover page for this Current Report on Form 8-K, formatted in Inline XBRL |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, hereunto duly authorized.
| MAGYAR BANCORP, INC. | ||
| DATE: October 28, 2026 | By: | /s/ John S. Fitzgerald |
| John S. Fitzgerald | ||
| President and Chief Executive Officer |
 |
News |
400 Somerset St., New Brunswick, NJ 08901
732.342.7600
MAGYAR BANCORP, INC. ANNOUNCES FISCAL FOURTH QUARTER AND FISCAL YEAR END
FINANCIAL RESULTS, DECLARES QUARTERLY DIVIDEND
New Brunswick, New Jersey, October 28, 2026 – Magyar Bancorp (NASDAQ: MGYR) (the “Company”), parent company of Magyar Bank, reported today the results of its operations for the three months and fiscal year ended September 30, 2026.
The Company reported a 31% increase in net income for the three months ended September 30, 2026 to $3.3 million compared with net income of $2.5 million for the three months ended September 30, 2025. The Company also reported a 29% increase in net income for the year ended September 30, 2026 to $12.6 million compared with $9.8 million for the year ended September 30, 2025.
The Company’s basic and diluted earnings per share were $0.53 and $0.52, respectively, for the three months ended September 30, 2026 compared with $0.41 and $0.40 for the three months ended September 30, 2025. The Company’s basic and diluted earnings per share were $2.02 and $1.99, respectively, for the year ended September 30, 2026 compared with $1.57 and $1.56 for the year ended September 30, 2025.
The Company also announced that its Board of Directors declared a quarterly cash dividend of $0.12 per share, which will be paid on November 24, 2026 to stockholders of record as of November 10, 2026.
“We are proud to announce another year of record earnings for Magyar Bancorp”, stated John Fitzgerald, President and Chief Executive Officer. “Despite a volatile interest rate environment, our business strategy produced a 35 basis point increase in our net interest margin from the prior year, driven by strong loan and deposit growth and prudent balance sheet management. As a result of our strong performance, we are pleased to announce the increase to our quarterly dividend to $0.12 per share. This is Magyar Bancorp’s second increase in the dividend this fiscal year. As we look ahead into 2027, we feel the Bank is well positioned to continue our strong performance.”
Results of Operations
Net income increased by $777 thousand, or 30.8%, to $3.3 million for the three-month period ended September 30, 2026 from $2.5 million for the three months ended September 30, 2025 driven by higher net interest income. Net income increased by $2.8 million, or 28.7%, to $12.6 million during the year ended September 30, 2026 compared with $9.8 million for the year ended September 30, 2025 from higher net interest income, partially offset by higher provisions for credit loss, lower other income, higher other expenses and higher income tax expense.
Net interest and dividend income increased $1.6 million, or 18.5%, to $10.0 million for the three months ended September 30, 2026 from $8.4 million for the three months ended September 30, 2025. The increase is attributable to a 37 basis points increase in the Company’s net interest margin to 3.84% for the three months ended September 30, 2026 from 3.47% for the three months ended September 30, 2025 as well as a $44.4 million increase in net interest-earning assets between the periods.
Interest and dividend income increased by $1.4 million, or 9.9%, to $15.7 million for the three months ended September 30, 2026 from $14.3 million for the three months ended September 30, 2025. Between these periods the Company grew the average balance of its interest-earning assets by $70.3 million, or 7.3%, to $1.029 billion, while the yield on such assets increased by 14 basis points to 6.05% for the three months ended September 30, 2026 from 5.91% for the prior year period. The increase in yield on the Company’s assets was attributable to higher interest income on loan originations and on adjustable-rate commercial term loans repricing to higher market interest rates.
Interest expense decreased by $141 thousand, or 2.4%, to $5.8 million for the three months ended September 30, 2026 from $5.9 million for the three months ended September 30, 2025. The average balance of interest-bearing liabilities increased $26.0 million, or 3.4%, between the two periods while the cost of such liabilities decreased by 18 basis points to 2.92% for the three months ended September 30, 2026 compared with 3.10% for the prior year period. Lower short-term market interest rates were primarily responsible for the lower cost of the Company’s interest-bearing liabilities.
During the year ended September 30, 2026, net interest and dividend income increased $5.6 million, or 17.5%, to $37.5 million compared with $31.9 million for the year ended September 30, 2025. The Company’s net interest margin increased by 35 basis points to 3.69% for the year ended September 30, 2026 compared to 3.34% for the year ended September 30, 2025.
The average balance of interest-earning assets increased by $61.6 million, or 6.5%, to $1.016 billion from $954.6 million, while the yield on such assets increased by 22 basis points to 5.95% for the year ended September 30, 2026 compared with 5.73% for the prior year. Interest and dividend income increased $5.8 million, or 10.5%, to $60.5 million for the year ended September 30, 2026 from $54.7 million for the year ended September 30, 2025. The increase in yield on the Company’s assets was attributable to higher interest income on loan originations and on adjustable-rate commercial term loans repricing to higher market interest rates.
Interest expense increased by $193 thousand, or 0.8%, to $23.0 million for the year ended September 30, 2026 from $22.8 million for the year ended September 30, 2025. The average balance of interest-bearing liabilities increased $34.9 million, or 4.7%, between the two periods while the cost of such liabilities decreased by 12 basis points to 2.93% for the year ended September 30, 2026 compared with 3.05% for the prior year. Lower short-term market interest rates were also responsible for the lower cost of the Company’s interest-bearing liabilities for the year-over-year comparison.
The Company recorded $316 thousand in credit loss provisions during the three months ended September 30, 2026 compared with $229 thousand in credit loss provisions for the three months ended September 30, 2025. Growth in commercial real estate loans and construction loan commitments was responsible for the majority of the Company’s provisions for credit loss during the three months ended September 30, 2026. There were $3 thousand in loan recoveries and no charge-offs for the three months ended September 30, 2026 compared with $38 thousand in loan recoveries and no charge-offs for the prior year period.
The Company recorded $946 thousand in credit loss provisions during the year ended September 30, 2026 compared with $402 thousand in credit loss provisions for the year ended September 30, 2025. Growth in commercial real estate loans and construction loan commitments were responsible for the majority of the Company’s provisions for credit loss during the year ended September 30, 2026. There were $14 thousand in loan recoveries and $300 thousand in loan charge-offs for the year ended September 30, 2026 compared with $149 thousand in loan recoveries and no charge-offs for the prior year period.
Non-interest income decreased by $164 thousand, or 19.2%, to $689 thousand for the three months ended September 30, 2026 compared with $853 thousand for the three months ended September 30, 2025 primarily from lower gains on the sale of SBA loans. Gains on the sale of SBA loans declined by $183 thousand to $103 thousand for the three months ended September 30, 2026 compared with $286 thousand for the three months ended September 30, 2025. Partially offsetting this decrease were higher interest rate swap fees and loan service charges, which increased by $20 thousand and $28 thousand, respectively, between periods.
Non-interest income decreased by $576 thousand, or 15.5%, to $3.1 million during the year ended September 30, 2026 compared with $3.7 million for the year ended September 30, 2025 primarily from lower gains on the sales of assets. The Company recorded a loss on other real estate owned of $13 thousand and gains on the sales of SBA loans totaling $933 thousand during the year ended September 30, 2026 compared with gains on the sale of other real estate owned and the sale of SBA loans totaling $229 thousand and $1.1 million, respectively, during the year ended September 30, 2025. In addition, service charge income decreased by $137 thousand, or 9.5%, to $1.3 million during the year ended September 30, 2026 compared with $1.4 million for the year ended September 30, 2025 from lower loans fees earned and late charges received.
Non-interest expenses increased by $216 thousand, or 4.0%, to $5.6 million during the three months ended September 30, 2026 from $5.4 million for the three months ended September 30, 2025 primarily due to higher marketing and other expenses. Marketing expense increased by $106 thousand, or 139.5%, to $182 thousand for the three months ended September 30, 2026 from $76 thousand for the three months ended September 30, 2025 while other expenses increased by $49 thousand, or 8.9%, to $598 thousand for the three months ended September 30, 2026 from $549 thousand for the three months ended September 30, 2025 from the relocation and grand opening of the Company’s new Inman Avenue branch location in Edison, New Jersey in September 2026.
During the year ended September 30, 2026, non-interest expenses increased by $600 thousand, or 2.8%, to $22.0 million from $21.4 million for the year ended September 30, 2025 due primarily to higher compensation and benefit expenses. Compensation and benefit expense increased by $490 thousand, or 3.9%, due to annual merit increases, higher medical insurance costs and higher incentive plan accruals, partially offset by the termination of the Company’s defined benefit pension plan, which resulted in a net settlement credit totaling $139 thousand. Data processing expenses increased by $167 thousand, or 35.5%, from lower flex credits applied to invoices during the year ended September 30, 2026 compared with the year ended September 30, 2025 when the Company extended its contract with its core service provider. Marketing and business development expenses increased by $113 thousand, or 25.8%, from the relocation and grand opening of the Company’s new Inman Avenue branch location in Edison, New Jersey in September 2026. Partially offsetting these increases was a $135 thousand, or 3.9%, decrease in occupancy expense related to the relocation of the Edison branch.
Income tax expense increased by $310 thousand, or 27.1%, to $1.4 million for the three-month period ended September 30, 2026 from $1.1 million for the three-month period ended September 30, 2025. The increase was attributable to higher pre-tax income, which increased by $1.1 million, or 29.6%, to $4.8 million.
Income tax expense increased by $1.1 million, or 25.8%, to $5.1 million for the year ended September 30, 2026 from $4.0 million for the year ended September 30, 2025. The increase was attributable to higher pre-tax income, which increased by $3.9 million, or 27.9%, to $17.7 million during the year ended September 30, 2026 compared with $13.8 million for the year ended September 30, 2025.
Balance Sheet Comparison
Total assets increased by $37.7 million, or 3.6%, to $1.086 billion during the three months ended September 30, 2026 from $1.049 billion at June 30, 2026, reflecting a $20.2 million increase in cash and cash equivalents and an $18.2 million increase in loans receivable.
During the year ended September 30, 2026, total assets increased by $88.5 million, or 8.9%, to $1.086 billion compared with $997.7 million at September 30, 2025. The increase was attributable to a $49.1 million increase in loans receivable, a $24.6 million increase in cash and cash equivalents, and a $13.6 million increase in investment securities.
Cash and interest-earning deposits with banks increased by $20.2 million to $31.7 million at September 30, 2026 from June 30, 2026, and by $24.6 million, or 347.1%, during the year ended September 30, 2026 from net deposit inflows that exceeded net loan originations.
At September 30, 2026, investment securities totaled $102.1 million, reflecting a $2.2 million, or 2.2%, decrease from June 30, 2026 and a $13.6 million, or 15.4%, increase from September 30, 2025. Investment securities at September 30, 2026 consisted of $80.2 million in mortgage-backed securities issued by U.S. government agencies and U.S. government-sponsored enterprises, $10.4 million in U.S. government-sponsored enterprise debt securities, $9.9 million in corporate notes, $3.4 million in municipal bonds and $75 thousand in “private-label” mortgage-backed securities.
Total loans receivable increased by $18.2 million, or 2.0%, during the quarter ended September 30, 2026 and have increased by $49.3 million, or 5.7%, to $908.2 million during the year ended September 30, 2026 from $858.9 million at September 30, 2025. The growth for the year occurred in commercial real estate loans, which increased by $64.3 million, or 12.1%, to $597.5 million. Offsetting this increase were declines in construction and land loans, which decreased by $13.6 million, or 46.3%, to $15.7 million, one-to four-family residential mortgage loans (including home equity lines of credit), which decreased by $714 thousand, or 0.3%, to $273.5 million, commercial business loans, which decreased by $411 thousand, or 2.1%, to $19.6 million and in other consumer loans, which decreased by $273 thousand, or 12.9%, to $1.8 million.
Total non-performing loans were $428 thousand at September 30, 2026, reflecting a $69 thousand increase from June 30, 2026 and a $23 thousand decrease from September 30, 2025. The Company’s non-performing loans consisted of two SBA loans secured by real estate and one residential mortgage loan at September 30, 2026. The ratio of non-performing loans to total loans was 0.05% at September 30, 2026 and September 30, 2025.
The allowance for on balance sheet credit losses increased $235 thousand to $8.6 million for the year ended September 30, 2026 compared to $8.4 million for the year ended September 30, 2025. The increase was attributable to provisions for credit loss totaling $521 thousand, loan recoveries totaling $14 thousand and loan charge-offs totaling $300 thousand during the year. For comparison, the Company recorded provisions for credit loss totaling $653 thousand and net loan recoveries totaling $149 thousand during the year ended September 30, 2025.
The allowance for off balance sheet credit losses increased $425 thousand to $623 thousand for the year ended September 30, 2026 compared with $198 thousand for the year ended September 30, 2025. The increase was attributable entirely to provisions for credit loss totaling $425 thousand and was the result of higher construction loan commitments outstanding between periods.
Other real estate owned declined by $2.2 million during the year to $0 during at September 30, 2026. The Company sold its only real estate owned property totaling $2.2 million incurring a loss of $13 thousand during the year ended September 30, 2026.
Total deposits increased by $33.5 million, or 3.9%, during the three months ended September 30, 2026 and by $73.0 million, or 9.0%, during the year ended September 30, 2026 to $887.3 million. The growth in deposits during the year occurred in certificates of deposit (including individual retirement accounts) which increased by $40.0 million, or 19.0%, to $249.9 million, in non-interest checking account balances, which increased by $25.0 million, or 21.4%, to $142.3 million, in interest-bearing checking account balances, which increased by $7.3 million, or 4.4% to $171.0 million, and in savings account balances, which increased by $1.6 million, or 2.9%, to $56.0 million. Offsetting these increases was a decline in money market account balances, which decreased by $873 thousand, or 0.3%, to $268.1 million.
Included in the Company’s total deposits was an estimated $123.5 million that was not collateralized and exceeded the FDIC’s insurance coverage limit of $250,000 at September 30, 2026 compared to $127.9 million at September 30, 2025.
Borrowings increased by $243 thousand during the three and twelve months ended September 30, 2026 to $49.3 million. The increase resulted from a new three-year term advance from the Federal Home Loan Bank of New York that was used to replace a matured three-year term advance.
Under its current stock repurchase plan the Company may repurchase up to 5% of its outstanding shares, or up to 323,547 shares, of which 51,503 have been purchased at September 30, 2026. During the three months ended September 30, 2026, the Company repurchased 5,678 shares of its stock at an average price of $18.88 per share. During the year ended September 30, 2026, the Company repurchased 31,503 shares at an average price of $17.80 per share.
Total equity increased by $9.9 million, or 8.3%, to $128.7 million at September 30, 2026 from $118.8 million at September 30, 2025. The increase was attributable to the Company’s net income from operations totaling $12.6 million, partially offset by $2.4 million in dividends paid and $561 thousand in share repurchases. In addition, other comprehensive income and stock-based compensation expense increased the Company’s equity by $229 thousand. The Company’s book value per share increased to $19.85 at September 30, 2026 from $18.34 at September 30, 2025.
About Magyar Bancorp
Magyar Bancorp is the parent company of Magyar Bank, a community bank headquartered in New Brunswick, New Jersey. Magyar Bank has been serving families and businesses in Central New Jersey since 1922 with a complete line of financial products and services. Today, Magyar operates branch locations in New Brunswick, North Brunswick, South Brunswick, Branchburg, Bridgewater, Martinsville and Edison (2). Please visit us online at www.magbank.com.
Forward Looking Statements
This press release contains statements about future events that constitute forward-looking statements within the meaning of the Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such forward-looking statements may be identified by reference to a future period or periods, or by the use of forward- looking terminology, such as “may,” “will,” “believe,” “expect,” or similar terms or variations on those terms, or the negative of those terms. Forward-looking statements are subject to numerous risks and uncertainties, including, but not limited to, those risks previously disclosed in the Company’s filings with the SEC, general economic conditions, changes in interest rates and the interest rate curve, regulatory considerations, competition, technological developments, retention and recruitment of qualified personnel, any effects of the federal government shutdown, the COVID-19 or any other pandemic, our levels of uninsured deposits, and market acceptance of the Company’s pricing, products and services, and with respect to the loans extended by the Bank and real estate owned, the following: risks related to the economic environment in the market areas in which the Bank operates, particularly with respect to the real estate market in New Jersey; the risk that the value of the real estate securing these loans may decline in value; and the risk that significant expense may be incurred by the Company in connection with the resolution of these loans. The Company wishes to caution readers not to place undue reliance on any such forward-looking statements, which speak only as of the date made. The Company does not undertake and specifically declines any obligation to publicly release the result of any revisions that may be made to any forward-looking statements to reflect events or circumstances after the date of such statements or to reflect the occurrence of anticipated or unanticipated events.
Contact: John Reissner, 732.214.2083
MAGYAR BANCORP, INC. AND SUBSIDIARY
Selected Financial Data
(Dollars In Thousands, Except for Per-Share Amounts)
| Three Months Ended | Years Ended | |||||||||||||||
| September 30, | September 30, | |||||||||||||||
| 2026 | 2025 | 2026 | 2025 | |||||||||||||
| Income Statement Data: | ||||||||||||||||
| Interest and dividend income | $ | 15,702 | $ | 14,289 | $ | 60,465 | $ | 54,706 | ||||||||
| Interest expense | 5,750 | 5,891 | 23,004 | 22,810 | ||||||||||||
| Net interest and dividend income | 9,952 | 8,398 | 37,461 | 31,896 | ||||||||||||
| Provision for credit losses | 316 | 229 | 946 | 402 | ||||||||||||
| Net interest and dividend income after | ||||||||||||||||
| provision for credit losses | 9,636 | 8,169 | 36,515 | 31,494 | ||||||||||||
| Other income | 689 | 853 | 3,138 | 3,713 | ||||||||||||
| Other expense | 5,568 | 5,352 | 21,998 | 21,398 | ||||||||||||
| Income before income tax expense | 4,757 | 3,670 | 17,655 | 13,809 | ||||||||||||
| Income tax expense | 1,455 | 1,145 | 5,094 | 4,049 | ||||||||||||
| Net income | $ | 3,302 | $ | 2,525 | $ | 12,561 | $ | 9,760 | ||||||||
| Per Share Data: | ||||||||||||||||
| Net income per share-basic | $ | 0.53 | $ | 0.41 | $ | 2.02 | $ | 1.57 | ||||||||
| Net income per share-diluted | $ | 0.52 | $ | 0.40 | $ | 1.99 | $ | 1.56 | ||||||||
| Book value per share, at period end | $ | 19.85 | $ | 18.34 | $ | 19.85 | $ | 18.34 | ||||||||
| Selected Ratios (annualized): | ||||||||||||||||
| Return on average assets | 1.22% | 1.00% | 1.18% | 0.97% | ||||||||||||
| Return on average equity | 10.95% | 9.05% | 9.62% | 8.18% | ||||||||||||
| Net interest margin | 3.84% | 3.47% | 3.69% | 3.34% | ||||||||||||
| Years Ended | ||||||||
| September 30, | ||||||||
| 2026 | 2025 | |||||||
| (Dollars in Thousands) | ||||||||
| Balance Sheet Data: | ||||||||
| Assets | $ | 1,086,164 | $ | 997,660 | ||||
| Loans receivable | 906,488 | 857,353 | ||||||
| Allowance for credit losses- loans | (8,585 | ) | (8,350 | ) | ||||
| Investment securities - available for sale, at fair value | 37,816 | 21,182 | ||||||
| Investment securities - held to maturity, at cost | 64,240 | 67,266 | ||||||
| Deposits | 887,336 | 814,307 | ||||||
| Borrowings | 49,297 | 49,054 | ||||||
| Shareholders' Equity | 128,684 | 118,842 | ||||||
| Asset Quality Data: | ||||||||
| Non-performing loans | $ | 428 | $ | 451 | ||||
| Other real estate owned | — | 2,167 | ||||||
| Total non-performing assets | $ | 428 | $ | 2,618 | ||||
| Allowance for credit losses to non-performing loans | NM* | NM* | ||||||
| Allowance for credit losses to total loans receivable | 0.95% | 0.97% | ||||||
| Non-performing loans to total loans receivable | 0.05% | 0.05% | ||||||
| Non-performing assets to total assets | 0.04% | 0.26% | ||||||
| Non-performing assets to total equity | 0.33% | 2.20% | ||||||
| * Not meaningful | ||||||||