Magyar Bancorp Q4 net income $2.5M (+16% YoY); NPLs fall 95% to $232k

Magyar Bancorp, Inc.

2024-FY EPS reported $1.23

Net income for Q4 ended Sep 30, 2024 was $2.5M ($0.41 EPS) vs $2.2M ($0.34 EPS) a year ago.
Full-year net income $7.8M ($1.23 EPS) vs $7.7M ($1.20 EPS) in fiscal 2023.
Non-performing loans fell to $232k from $4.6M at June 30, 2024, a 95% decrease.
Loan portfolio grew 11.9% to $781.2M; new Martinsville branch opened Oct 11, 2024.
Board declared $0.05 quarterly dividend payable Nov 27, record Nov 14.

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