Magyar Bancorp Q1 net income up 26% to $2.1M; assets surpass $1B

Magyar Bancorp, Inc.

2025-Q1 EPS reported $0.34

Net income $2.1M vs $1.7M YoY (+26%); diluted EPS $0.34 vs $0.26.
Net interest income $7.4M (+2.8%); provision for credit losses fell to $101K from $481K.
Total assets $1.0B (+5.9% seq.); deposits grew 6.5% to $848.8M; loans +3.2% to $805.5M.
Declared $0.06/share quarterly dividend, payable Feb 20, 2025 to holders of record Feb 6.
Book value $17.23; repurchased 31,737 shares at avg $13.75 during quarter.

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