{"schema_version":"secwatch.filing_event.v1","accession":"0001174947-24-000121","form_type":"8-K","ticker":"MGYR","cik":"0001337068","company_name":"Magyar Bancorp, Inc.","filed_at":"2024-01-25T23:59:59+00:00","discovered_at":"2026-05-14T18:03:23.864562+00:00","generated_at":"2026-06-06T18:00:57.148585+00:00","sec_items":["2.02","9.01"],"event_type":"earnings","sentiment":"negative","materiality_score":0.65,"calibrated_materiality_score":0.65,"confidence":"high","headline":"Magyar Bancorp Q1 net income down 8.7% to $1.65M; declares $0.05 dividend","bullets":["Net income of $1.65M ($0.26 diluted EPS) vs. $1.81M ($0.28) in prior-year quarter, down 8.7%.","Net interest margin compressed to 3.29% from 3.60% on higher deposit costs; net interest income rose 5.1% to $7.2M.","Loan portfolio grew 4.5% to $729.5M, driven by commercial real estate (+$19.1M) and construction (+$10.0M).","Non-performing loans fell 4.6% to $4.9M; allowance for credit losses as % of NPLs improved to 171.5%.","Quarterly cash dividend of $0.05 per share declared, payable Feb. 22, 2024 to holders of record Feb. 8, 2024."],"urls":{"canonical":"https://secwatch.observer/filing/0001174947-24-000121","json":"https://secwatch.observer/filing/0001174947-24-000121.json","markdown":"https://secwatch.observer/filing/0001174947-24-000121.md","text":"https://secwatch.observer/filing/0001174947-24-000121.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1337068/000117494724000121/0001174947-24-000121-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1337068/000117494724000121/form8k-31391_mgyr.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-06T18:00:57.148585+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"a1b3658f967db04cd67b8d08338a1e66936e7978","claim":"Magyar Bancorp, Inc. reported three months ended December 31, 2023 results: net income $1.7 million, EPS $0.26.","evidence_excerpt":"The Company reported net income for the three months ended December 31, 2023 of $1.7 million. Net income declined 8.7% from $1.8 million for the three months ended December 31, 2022. Basic and diluted earnings per share were $0.26 for the three months ended December 31, 2023 compared to $0.28 for the three months ended December 31, 2022.","evidence_source":"SEC 8-K Item 2.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1337068/000117494724000121/0001174947-24-000121-index.htm","confidence":0.95,"family_label":"Earnings Releases","details":[{"label":"Period","value":"three months ended December 31, 2023"},{"label":"Net income","value":"$1.7 million"},{"label":"EPS","value":"$0.26"},{"label":"Result","value":"reported results"}],"fact_type":"earnings_release"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}