secwatch.observer — SEC 8-K summary
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Issuer:     Magyar Bancorp, Inc. (MGYR)
CIK:        0001337068
Form:       8-K
Filed at:   2022-04-20T23:59:59+00:00
Accession:  0001174947-22-000528
Event type: earnings
Sentiment:  positive
Materiality: 0.65
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1337068/000117494722000528/0001174947-22-000528-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1337068/000117494722000528/form8k-27894_mgyr.htm
  HTML page:      https://secwatch.observer/filing/0001174947-22-000528

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