secwatch.observer — SEC 8-K summary
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Issuer:     Magyar Bancorp, Inc. (MGYR)
CIK:        0001337068
Form:       8-K
Filed at:   2023-04-20T23:59:59+00:00
Accession:  0001174947-23-000590
Event type: earnings
Sentiment:  positive
Materiality: 0.65
Item codes: 2.02, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1337068/000117494723000590/0001174947-23-000590-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1337068/000117494723000590/form8k-29993_mgyr.htm
  HTML page:      https://secwatch.observer/filing/0001174947-23-000590

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