---
schema_version: "secwatch.filing_event.v1"
accession: "0001174947-24-001197"
form_type: "8-K"
ticker: "MGYR"
cik: "0001337068"
company_name: "Magyar Bancorp, Inc."
filed_at: "2024-10-31T23:59:59+00:00"
generated_at: "2026-05-30T07:20:57.950465+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001174947-24-001197
- form_type: 8-K
- ticker: MGYR
- cik: 0001337068
- company_name: Magyar Bancorp, Inc.
- filed_at: 2024-10-31T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 2.02, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1337068/000117494724001197/0001174947-24-001197-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1337068/000117494724001197/form8k-33075_mgyr.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001174947-24-001197
- JSON: https://secwatch.observer/filing/0001174947-24-001197.json
- Plain text: https://secwatch.observer/filing/0001174947-24-001197.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.