home · filing · 0001174947-24-000906
8-K filed July 25, 2024, 7:59 PM ET
ticker MGYR
CIK 0001337068
earnings
confidence high
sentiment negative
materiality 0.55
Magyar Bancorp Q3 net income $1.7M ($0.27 EPS), down 11.8% YoY; NPL ratio improves to 0.60%
Magyar Bancorp, Inc.
2024-Q3 EPS reported
$0.82
Q3 net income $1.7M ($0.27 EPS), down 11.8% YoY; nine-month net income $5.2M ($0.83 EPS).
Net interest margin narrowed 44 bps to 3.02%; interest expense rose 92% to $5.5M on higher deposit costs.
Non-performing loans declined to 0.60% of total loans from 0.73%; allowance covers 170% of NPLs.
Board declared $0.05/share quarterly dividend, payable Aug 22 to holders of record Aug 8.
Michael R. Lombardi elected to Board; Company also signed lease for new branch in Martinsville, NJ.
Executive movements
Machine-extracted from this filing. Every card cites the SEC source. See all recent executive movements .
Appointed
Michael R. Lombardi
Director
MGYR ·
Magyar Bancorp, Inc.
Effective 2024-07-25
Filed July 25, 2024, 7:59 PM ET
On July 25, 2024, the Board of Directors of the Company elected Michael R. Lombardi. to serve as a Director of the Company.
Key facts
Extracted from this filing and checked against the source text.
Executive change
SEC 8-K Item 5.02
confidence 0.95
Michael R. Lombardi was elected as Director at Magyar Bancorp, Inc..
Action elected
Role Director
Exact text from the filing
On July 25, 2024, the Board of Directors of the Company elected Michael R. Lombardi. to serve as a Director of the Company.
View on SEC.gov
Source: SEC EDGAR
accession 0001174947-24-000906
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