secwatch.observer — SEC 8-K summary
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Issuer:     Magyar Bancorp, Inc. (MGYR)
CIK:        0001337068
Form:       8-K
Filed at:   2025-05-22T23:59:59+00:00
Accession:  0001174947-25-000836
Event type: other_material
Sentiment:  positive
Materiality: 0.55
Item codes: 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Magyar Bancorp authorizes new 5% stock repurchase program for up to 323,547 shares
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- New program authorizes repurchase of up to 323,547 shares, representing ~5% of outstanding common stock.
- Prior Dec 2022 program completed with 337,146 shares repurchased at an average price of $12.23 per share.
- Repurchased shares will be held as treasury stock and used for general corporate purposes.
- Timing of repurchases depends on market conditions, liquidity, and alternative uses of capital.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1337068/000117494725000836/0001174947-25-000836-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1337068/000117494725000836/form8k-34293_mgyr.htm
  HTML page:      https://secwatch.observer/filing/0001174947-25-000836

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