---
schema_version: "secwatch.filing_event.v1"
accession: "0001174947-25-000061"
form_type: "8-K"
ticker: "MGYR"
cik: "0001337068"
company_name: "Magyar Bancorp, Inc."
filed_at: "2025-01-23T23:59:59+00:00"
generated_at: "2026-05-27T13:39:29.748501+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001174947-25-000061
- form_type: 8-K
- ticker: MGYR
- cik: 0001337068
- company_name: Magyar Bancorp, Inc.
- filed_at: 2025-01-23T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1337068/000117494725000061/0001174947-25-000061-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1337068/000117494725000061/form8k-33425_mgyr.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001174947-25-000061
- JSON: https://secwatch.observer/filing/0001174947-25-000061.json
- Plain text: https://secwatch.observer/filing/0001174947-25-000061.txt

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