secwatch.observer — SEC 8-K summary
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Issuer:     Magyar Bancorp, Inc. (MGYR)
CIK:        0001337068
Form:       8-K
Filed at:   2024-10-31T23:59:59+00:00
Accession:  0001174947-24-001197
Event type: earnings
Sentiment:  positive
Materiality: 0.60
Item codes: 2.02, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1337068/000117494724001197/0001174947-24-001197-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1337068/000117494724001197/form8k-33075_mgyr.htm
  HTML page:      https://secwatch.observer/filing/0001174947-24-001197

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer