{"schema_version":"secwatch.filing_event.v1","accession":"0001174947-24-000906","form_type":"8-K","ticker":"MGYR","cik":"0001337068","company_name":"Magyar Bancorp, Inc.","filed_at":"2024-07-25T23:59:59+00:00","discovered_at":"2026-05-14T18:03:12.708870+00:00","generated_at":"2026-05-31T16:13:44.702524+00:00","sec_items":["2.02","5.02","8.01","9.01"],"event_type":"earnings","sentiment":"negative","materiality_score":0.55,"calibrated_materiality_score":0.55,"confidence":"high","headline":"Magyar Bancorp Q3 net income $1.7M ($0.27 EPS), down 11.8% YoY; NPL ratio improves to 0.60%","bullets":["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."],"urls":{"canonical":"https://secwatch.observer/filing/0001174947-24-000906","json":"https://secwatch.observer/filing/0001174947-24-000906.json","markdown":"https://secwatch.observer/filing/0001174947-24-000906.md","text":"https://secwatch.observer/filing/0001174947-24-000906.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1337068/000117494724000906/0001174947-24-000906-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1337068/000117494724000906/form8k-32632_mgyr.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-05-31T16:13:44.702524+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":"df86595ef9","claim":"Michael R. Lombardi was elected as Director at Magyar Bancorp, Inc..","evidence_excerpt":"On July 25, 2024, the Board of Directors of the Company elected Michael R. Lombardi. to serve as a Director of the Company.","evidence_source":"SEC 8-K Item 5.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1337068/000117494724000906/0001174947-24-000906-index.htm","confidence":0.95,"family_label":"Executive change","details":[{"label":"Action","value":"elected"},{"label":"Role","value":"Director"}],"fact_type":"executive_change"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}