MGYR
Magyar Bancorp, Inc.17.02
-0.18-1.04%
Dec 16, 4:00:00 PM EST
Earnings Call Transcripts
This Quarter (Q4 '25)
No earnings call transcript available yet
Last Quarter (Q3 '25)
No earnings call transcript available
Key Stats
Market Cap
110.14MP/E (TTM)
10.91Basic EPS (TTM)
1.56Dividend Yield
0.01%Recent Filings
8-K
Record earnings, dividend declared
Magyar Bancorp reported fiscal year net income of $9.8 million for the period ended September 30, 2025, up 25% from $7.8 million in 2024, driven by a 14% rise in net interest income to $31.9 million and a 20 basis point expansion in net interest margin to 3.34%, fueled by 10% loan portfolio growth to $858.9 million. While quarterly net income held steady at $2.5 million, higher credit loss provisions and lower non-interest income from absent real estate gains offset gains. The board declared a $0.08 per share quarterly dividend, payable November 25 to holders of record November 13. Management eyes continued strong performance amid interest rate shifts.
10-Q
Q3 FY2025 results
Magyar Bancorp posted solid Q3 FY2025 results, with net interest income climbing 20.5% year-over-year to $8.2 million on a 33-basis-point net interest margin expansion to 3.35%, fueled by 10.4% average loan growth to $822.5 million yielding 6.15%. Net income rose 46.1% to $2.5 million, or $0.40 diluted EPS, matching basic shares of 6.2 million with negligible dilution from options. Other income surged 55.5% to $636 thousand, driven by higher BOLI yields post-restructure and service charges, while expenses edged up 3.6% on compensation. Loans hit $845.4 million, up 8.2%, with deposits at $820.0 million and $36.1 million in borrowings; operating cash flow generated $7.5 million YTD. Non-GAAP metrics not disclosed in the 10-Q. Yet non-performing loans ticked up to 0.11% of total. CRE concentration poses valuation risks.
8-K
Q3 net income surges 46%
Magyar Bancorp reported third-quarter net income of $2.5 million, up 46% from $1.7 million last year, fueled by 20.5% higher net interest income to $8.2 million and a net interest margin expansion to 3.35%. Loans grew 8.2% to $844 million, while deposits rose 2.9% to $820 million. The board hiked its quarterly dividend to $0.08 per share, payable August 21. Solid growth persists.
8-K
New stock buyback authorized
Magyar Bancorp completed its prior stock repurchase program, buying back 337,146 shares at an average $12.23, and authorized a new one for up to 323,547 shares—5% of outstanding common stock. Repurchases hinge on market conditions and liquidity needs. The move signals confidence in undervaluation. Yet risks like interest rate shifts loom.
10-Q
Q2 FY2025 results
Magyar Bancorp posted solid Q2 FY2025 results, with net income up 41% year-over-year to $2.7 million and diluted EPS steady at $0.43 on 6.2 million weighted shares. Net interest income climbed 14% to $7.9 million, fueled by loan growth to $809 million—mostly commercial real estate—and a net interest margin expansion to 3.31%, while deposit costs dipped slightly. Other income doubled on stronger SBA loan sales and service charges, though expenses rose 6% from higher compensation and occupancy. Cash swelled to $73 million with $5.3 million in free cash flow, borrowings hit $33.9 million at low rates, and equity grew to $114 million. Non-GAAP metrics not disclosed in the 10-Q. Yet competition in New Jersey's real estate lending market lingers.
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