Magyar Bancorp reports Q4 net income up 51% to $2.43M; FY EPS $1.17

Magyar Bancorp, Inc.

2022-FY EPS reported $1.17

Q4 net income $2.43M ($0.36 EPS) vs $1.61M ($0.23) year ago; FY net income $7.92M ($1.17 EPS) vs $6.12M ($1.01).
Net interest margin expanded to 3.83% in Q4 from 3.57%; loan growth of 5.8% driven by commercial real estate up 22.1%.
Non-performing loans fell to 0.45% of total loans from 1.37% year ago; allowance for loan losses at 297.5% of NPLs.
Repurchased 352,697 shares at avg $12.90 under 5% buyback program; book value per share rose to $14.60 from $13.76.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Magyar Bancorp, Inc. reported the three months and twelve months ended September 30, 2022 results: net income net income of $2,430,000, EPS $0.36 and $1.17.

Period: the three months and twelve months ended September 30, 2022
Net income: net income of $2,430,000
EPS: $0.36 and $1.17
Result: reported results

Exact text from the filing

On November 3, 2022, Magyar Bancorp, Inc. (the "Company") issued a press release regarding its results of operations and financial condition at and for the three months and twelve months ended September 30, 2022.

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Source: SEC EDGAR

accession 0001174947-22-001164

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