---
schema_version: "secwatch.filing_event.v1"
accession: "0001174947-22-001164"
form_type: "8-K"
ticker: "MGYR"
cik: "0001337068"
company_name: "Magyar Bancorp, Inc."
filed_at: "2022-11-03T23:59:59+00:00"
generated_at: "2026-06-22T08:23:55.211048+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001174947-22-001164
- form_type: 8-K
- ticker: MGYR
- cik: 0001337068
- company_name: Magyar Bancorp, Inc.
- filed_at: 2022-11-03T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1337068/000117494722001164/0001174947-22-001164-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1337068/000117494722001164/form8k-28921_mgyr.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001174947-22-001164
- JSON: https://secwatch.observer/filing/0001174947-22-001164.json
- Plain text: https://secwatch.observer/filing/0001174947-22-001164.txt

## Key facts
- Earnings Releases
  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
  source text: 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.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1337068/000117494722001164/0001174947-22-001164-index.htm

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