secwatch.observer — SEC 8-K summary
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Issuer:     Magyar Bancorp, Inc. (MGYR)
CIK:        0001337068
Form:       8-K
Filed at:   2021-07-26T23:59:59+00:00
Accession:  0001174947-21-000692
Event type: earnings
Sentiment:  positive
Materiality: 0.80
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1337068/000117494721000692/0001174947-21-000692-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1337068/000117494721000692/form8k-26464_mgyr.htm
  HTML page:      https://secwatch.observer/filing/0001174947-21-000692

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer