Magyar Bancorp Q3 net income down 9.4% to $1.9M; EPS $0.30; declares $0.03 dividend

Magyar Bancorp, Inc.

2023-Q3 EPS reported $0.86

Net income for Q3 ended June 30, 2023 was $1.918M vs $2.117M YoY; diluted EPS $0.30 vs $0.31.
Net interest margin compressed 26bps to 3.46% due to higher deposit costs; interest expense surged 463.9% to $2.9M.
Loan portfolio grew 11.7% to $702.5M; non-performing loans rose to 0.51% of total loans; $385K net charge-offs in Q3.
Board declared $0.03 quarterly dividend, payable Aug 17, 2023 to holders of record Aug 3, 2023.
Book value per share increased to $15.41 from $14.60 at Sept 30, 2022.

item 2.02 item 8.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Magyar Bancorp, Inc. reported the nine months ended June 30, 2023 results: net income $5,524,000, EPS $0.86.

Period: the nine months ended June 30, 2023
Net income: $5,524,000
EPS: $0.86
Result: reported results

Exact text from the filing

Net income for the nine months ended June 30, 2023 was $5,524,000 compared with net income of $5,489,000 for the nine months ended June 30, 2022.

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Magyar Bancorp, Inc. reported the three months ended June 30, 2023 results: net income $1,918,000, EPS $0.30.

Period: the three months ended June 30, 2023
Net income: $1,918,000
EPS: $0.30
Result: reported results

Exact text from the filing

The Company reported $1,918,000 in net income for the three months ended June 30, 2023 compared with net income of $2,117,000 for the three months ended June 30, 2022.

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Magyar Bancorp, Inc. filing history →

Source: SEC EDGAR

accession 0001104659-23-082697

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