---
schema_version: "secwatch.filing_event.v1"
accession: "0001174947-22-000834"
form_type: "8-K"
ticker: "MGYR"
cik: "0001337068"
company_name: "Magyar Bancorp, Inc."
filed_at: "2022-07-21T23:59:59+00:00"
generated_at: "2026-06-24T09:55:26.655485+00:00"
event_type: "other_material"
sentiment: "positive"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# Magyar Bancorp authorizes repurchase of up to 5% of outstanding shares

## Summary
- Board authorized repurchase of up to 354,891 shares, representing approximately 5% of outstanding stock.
- Repurchases depend on market conditions, prices, liquidity, and alternative capital uses.
- Shares bought will be held as treasury stock for general corporate purposes.
- CEO states common stock is an attractive value at current trading prices.

## SEC filing metadata
- accession: 0001174947-22-000834
- form_type: 8-K
- ticker: MGYR
- cik: 0001337068
- company_name: Magyar Bancorp, Inc.
- filed_at: 2022-07-21T23:59:59+00:00
- event_type: other_material
- sentiment: positive
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1337068/000117494722000834/0001174947-22-000834-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1337068/000117494722000834/form8k-28413_mgyr.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001174947-22-000834
- JSON: https://secwatch.observer/filing/0001174947-22-000834.json
- Plain text: https://secwatch.observer/filing/0001174947-22-000834.txt

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