secwatch.observer — SEC 8-K summary
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Issuer:     Magyar Bancorp, Inc. (MGYR)
CIK:        0001337068
Form:       8-K
Filed at:   2025-01-23T23:59:59+00:00
Accession:  0001174947-25-000061
Event type: earnings
Sentiment:  positive
Materiality: 0.60
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1337068/000117494725000061/0001174947-25-000061-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1337068/000117494725000061/form8k-33425_mgyr.htm
  HTML page:      https://secwatch.observer/filing/0001174947-25-000061

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