{"schema_version":"secwatch.filing_event.v1","accession":"0001174947-24-000571","form_type":"8-K","ticker":"MGYR","cik":"0001337068","company_name":"Magyar Bancorp, Inc.","filed_at":"2024-04-23T23:59:59+00:00","discovered_at":"2026-05-14T18:03:18.010397+00:00","generated_at":"2026-06-03T11:39:54.470099+00:00","sec_items":["2.02","8.01","9.01"],"event_type":"earnings","sentiment":"positive","materiality_score":0.55,"calibrated_materiality_score":0.55,"confidence":"high","headline":"Magyar Bancorp Q2 net income up 5.6% to $1.9M; declares $0.05 dividend","bullets":["Q2 net income $1.897M ($0.30 EPS) vs $1.796M ($0.28 EPS) a year ago; 6-month EPS unchanged at $0.56.","Net interest margin compressed to 3.17% from 3.61% due to higher deposit costs; loan growth $44.5M offset impact.","Non-performing loans declined to 0.62% of total loans from 0.73%; allowance coverage 167.7%.","Dividend of $0.05/share declared, payable May 21 to holders of record May 7.","Book value per share rose to $16.30 from $15.70; 71,745 shares repurchased at avg $11.14."],"urls":{"canonical":"https://secwatch.observer/filing/0001174947-24-000571","json":"https://secwatch.observer/filing/0001174947-24-000571.json","markdown":"https://secwatch.observer/filing/0001174947-24-000571.md","text":"https://secwatch.observer/filing/0001174947-24-000571.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1337068/000117494724000571/0001174947-24-000571-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1337068/000117494724000571/form8k-32127_mgyr.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-03T11:39:54.470099+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":"25f662bd26387431211a2ae744a706acd1476607","claim":"Magyar Bancorp, Inc. reported three and six months ended March 31, 2024 results: net income Net income for the six months ended March 31, 2024 was $3,549,000 compared with net income of $3,606,000 for the six mon, EPS Basic and diluted earnings per share were unchanged at $0.56 for the six months ended March 31, 2024 compared with the s.","evidence_excerpt":"Magyar Bancorp (NASDAQ: MGYR) (“Company”), parent company of Magyar Bank, reported today the results of its operations for the three and six months ended March 31, 2024. The Company reported a 6% increase in its net income for the three months ended March 31, 2024, to $1,897,000 compared with net income of $1,796,000 for the three months ended March 31, 2023. Net income for the six months ended March 31, 2024 was $3,549,000 compared with net income of $3,606,000 for the six months ended March 31, 2023. Basic and diluted earnings per share were $0.30 for the three months ended March 31, 2024 compared with $0.28 for the three months ended March 31, 2023.","evidence_source":"SEC 8-K Item 2.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1337068/000117494724000571/0001174947-24-000571-index.htm","confidence":0.95,"family_label":"Earnings Releases","details":[{"label":"Period","value":"three and six months ended March 31, 2024"},{"label":"Net income","value":"Net income for the six months ended March 31, 2024 was $3,549,000 compared with net income of $3,606,000 for the six mon"},{"label":"EPS","value":"Basic and diluted earnings per share were unchanged at $0.56 for the six months ended March 31, 2024 compared with the s"},{"label":"Result","value":"reported results"}],"fact_type":"earnings_release"},{"claim_id":"25f662bd26387431211a2ae744a706acd1476607","claim":"Magyar Bancorp, Inc. reported three and six months ended March 31, 2024 results: net income Net income for the six months ended March 31, 2024 was $3,549,000 compared with net income of $3,606,000 for the six mon, EPS Basic and diluted earnings per share were unchanged at $0.56 for the six months ended March 31, 2024 compared with the s.","evidence_excerpt":"Basic and diluted earnings per share were unchanged at $0.56 for the six months ended March 31, 2024 compared with the six months ended March 31, 2023.","evidence_source":"SEC 8-K Item 2.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1337068/000117494724000571/0001174947-24-000571-index.htm","confidence":0.95,"family_label":"Earnings Releases","details":[{"label":"Period","value":"three and six months ended March 31, 2024"},{"label":"Net income","value":"Net income for the six months ended March 31, 2024 was $3,549,000 compared with net income of $3,606,000 for the six mon"},{"label":"EPS","value":"Basic and diluted earnings per share were unchanged at $0.56 for the six months ended March 31, 2024 compared with the s"},{"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"}