secwatch.observer — SEC 8-K summary
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Issuer:     Magyar Bancorp, Inc. (MGYR)
CIK:        0001337068
Form:       8-K
Filed at:   2023-01-26T23:59:59+00:00
Accession:  0001174947-23-000055
Event type: earnings
Sentiment:  positive
Materiality: 0.45
Item codes: 2.02, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Magyar Bancorp Q1 net income rises 6.9% to $1.8M; dividend declared
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- Net income $1.8M (+6.9% YoY); diluted EPS $0.28 vs $0.25.
- Loans grew 7.4% QoQ to $675.7M; net interest margin 3.60% (up 14 bp YoY).
- Dividend of $0.03/share declared, payable Feb 23, 2023 to holders of record Feb 9.
- Non-performing loans increased $1.1M to $3.9M (0.58% of total loans) from $2.8M.
- Provision for loan loss $317K vs $101K YoY; no charge-offs recorded.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1337068/000117494723000055/0001174947-23-000055-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1337068/000117494723000055/form8k-29286_mgyr.htm
  HTML page:      https://secwatch.observer/filing/0001174947-23-000055

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