Magyar Bancorp Q4 net income $1.61M ($0.23 EPS), up 96% YoY; FY net income $6.12M ($1.01 EPS)

Magyar Bancorp, Inc.

2022-FY EPS reported $1.01

Q4 net income $1.61M vs $823K; diluted EPS $0.23 vs $0.12 YoY.
FY 2021 net income $6.12M, up 179.5% from $2.19M; EPS $1.01 vs $0.31.
Net interest margin expanded 34 bps to 3.57% in Q4; net interest income up 18% to $6.7M.
Completed stock offering netting $37.4M; book value per share rose to $13.76 from $9.78.
Non-performing loans fell 13.4% in Q4 to $8.2M (1.4% of total loans); loan loss allowance $8.1M.

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