secwatch.observer — SEC 8-K summary
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Issuer:     Magyar Bancorp, Inc. (MGYR)
CIK:        0001337068
Form:       8-K
Filed at:   2022-07-21T23:59:59+00:00
Accession:  0001174947-22-000834
Event type: other_material
Sentiment:  positive
Materiality: 0.60
Item codes: 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Magyar Bancorp authorizes repurchase of up to 5% of outstanding shares
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- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1337068/000117494722000834/0001174947-22-000834-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1337068/000117494722000834/form8k-28413_mgyr.htm
  HTML page:      https://secwatch.observer/filing/0001174947-22-000834

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer