---
schema_version: "secwatch.filing_event.v1"
accession: "0001174947-22-000068"
form_type: "8-K"
ticker: "MGYR"
cik: "0001337068"
company_name: "Magyar Bancorp, Inc."
filed_at: "2022-01-25T23:59:59+00:00"
generated_at: "2026-06-27T15:49:14.401575+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.55
calibrated_materiality_score: 0.55
confidence: "high"
source: SEC EDGAR
---

# Magyar Bancorp Q1 net income up 27% to $1.7M; EPS $0.25 vs $0.19

## Summary
- Net income $1.693M for quarter ended Dec 31, 2021, up from $1.337M YoY; diluted EPS $0.25.
- Net interest margin expanded to 3.46% from 3.38%; net interest income rose 6.5% to $6.4M.
- Non-performing loans decreased 23.9% to $6.2M; total loans fell 1.9% to $583.4M.
- Provision for loan losses dropped to $101k from $640k; allowance coverage of NPLs improved to 132.4%.
- Book value per share increased to $13.87 from $13.76; special dividends paid during quarter.

## SEC filing metadata
- accession: 0001174947-22-000068
- form_type: 8-K
- ticker: MGYR
- cik: 0001337068
- company_name: Magyar Bancorp, Inc.
- filed_at: 2022-01-25T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.55
- calibrated_materiality_score: 0.55
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1337068/000117494722000068/0001174947-22-000068-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1337068/000117494722000068/form8k-27233_mgyr.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001174947-22-000068
- JSON: https://secwatch.observer/filing/0001174947-22-000068.json
- Plain text: https://secwatch.observer/filing/0001174947-22-000068.txt

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