---
schema_version: "secwatch.filing_event.v1"
accession: "0001174947-22-000528"
form_type: "8-K"
ticker: "MGYR"
cik: "0001337068"
company_name: "Magyar Bancorp, Inc."
filed_at: "2022-04-20T23:59:59+00:00"
generated_at: "2026-06-26T06:06:41.922724+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# Magyar Bancorp Q2 fiscal 2022 net income up 11.5% to $1.68M; EPS $0.25 vs $0.21

## Summary
- Net income $1.68M for Q2 ended Mar 31, 2022, up from $1.51M a year ago; diluted EPS $0.25 vs $0.21.
- Net interest margin compressed to 3.37% from 3.64%; net interest income flat at $6.4M.
- Provision for loan losses dropped to $71K from $467K; net recoveries of $1K vs net charge-offs of $43K.
- Non-performing loans fell 27.3% to $5.9M; ratio to total loans improved to 0.96% from 1.37%.
- Total deposits grew 5.5% to $675.2M; borrowings decreased 18% to $19.2M.

## SEC filing metadata
- accession: 0001174947-22-000528
- form_type: 8-K
- ticker: MGYR
- cik: 0001337068
- company_name: Magyar Bancorp, Inc.
- filed_at: 2022-04-20T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1337068/000117494722000528/0001174947-22-000528-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1337068/000117494722000528/form8k-27894_mgyr.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001174947-22-000528
- JSON: https://secwatch.observer/filing/0001174947-22-000528.json
- Plain text: https://secwatch.observer/filing/0001174947-22-000528.txt

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