---
schema_version: "secwatch.filing_event.v1"
accession: "0001174947-21-000692"
form_type: "8-K"
ticker: "MGYR"
cik: "0001337068"
company_name: "Magyar Bancorp, Inc."
filed_at: "2021-07-26T23:59:59+00:00"
generated_at: "2026-06-30T02:30:32.893110+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# Magyar Bancorp Q3 net income surges 228% to $1.67M, EPS $0.29

## Summary
- Net income for three months ended June 30, 2021: $1,668,000 vs $509,000 YoY; EPS $0.29 vs $0.09.
- Net interest margin expanded 28 bps to 3.54%; net interest and dividend income up 15.9% to $6.5M.
- Total assets grew 11.7% to $842.3M; held $109.6M in stock subscription deposits for second-step conversion.
- Non-performing loans ratio improved to 1.53% from 1.59%; allowance for loan losses at 1.27% of total loans.
- Nine-month net income $4.51M ($0.78 EPS) vs $1.37M ($0.24 EPS) in prior year period.

## SEC filing metadata
- accession: 0001174947-21-000692
- form_type: 8-K
- ticker: MGYR
- cik: 0001337068
- company_name: Magyar Bancorp, Inc.
- filed_at: 2021-07-26T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1337068/000117494721000692/0001174947-21-000692-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1337068/000117494721000692/form8k-26464_mgyr.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001174947-21-000692
- JSON: https://secwatch.observer/filing/0001174947-21-000692.json
- Plain text: https://secwatch.observer/filing/0001174947-21-000692.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.