other material
confidence high
sentiment positive
materiality 0.35
Magyar Bancorp completes prior buyback, authorizes new 5% stock repurchase plan
Magyar Bancorp, Inc.
- Completed prior repurchase program: 354,891 shares at avg $12.90.
- Board authorized new repurchase of up to 5% of outstanding shares, or up to 337,146 shares.
- Timing of repurchases depends on market conditions, liquidity, and alternative capital uses.
- Repurchased shares will be held as treasury stock for general corporate purposes.