Magyar Bancorp Q2 net income +7% to $1.8M; EPS $0.28; declares $0.03 dividend

Magyar Bancorp, Inc.

2023-Q2 EPS reported $0.56

Net income for Q2 (three months ended March 31, 2023) was $1.8M, up 7% YoY; EPS $0.28 vs $0.25.
Net interest margin expanded to 3.61% from 3.37%; net interest income rose 8.9% to $6.9M.
Provision for loan losses increased to $195k from $71k; net charge-offs of $102k vs net recoveries of $1k.
Total loans grew $48M to $676.9M; book value per share $15.12, up from $14.60.
Quarterly dividend of $0.03 per share declared, payable May 18 to holders of record May 4.

item 2.02 item 8.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Magyar Bancorp, Inc. reported the three months ended March 31, 2023 results: net income $1,796,000, EPS $0.28.

Period: the three months ended March 31, 2023
Net income: $1,796,000
EPS: $0.28
Result: reported results

Exact text from the filing

The Company reported a 7% increase in its net income for the three months ended March 31, 2023, to $1,796,000 compared with net income of $1,679,000 for the three months ended March 31, 2022.

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Magyar Bancorp, Inc. reported the six months ended March 31, 2023 results: net income $3,606,000, EPS $0.56.

Period: the six months ended March 31, 2023
Net income: $3,606,000
EPS: $0.56
Result: reported results

Exact text from the filing

Net income for the six months ended March 31, 2023 was $3,606,000 compared with net income of $3,372,000 for the six months ended March 31, 2022.

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Magyar Bancorp, Inc. filing history →

Source: SEC EDGAR

accession 0001174947-23-000590

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