Magyar Bancorp, Inc. reported the three and six months ended March 31, 2026 results: net income $3.0 million, EPS $0.49 and $0.48.
“Magyar Bancorp (NASDAQ: MGYR) (“Company”), parent company of Magyar Bank, reported today the results of its operations for the three and six months ended March 31, 2026. The Company reported a 13% increase in its net income for the three months ended March 31, 2026, to $3.0 million compared with net income of $2.7 million for the three months ended March 31, 2025. Net income for the six months ended March 31, 2026 increased 29% to $6.2 million compared with net income of $4.8 million for the six months ended March 31, 2025. Basic and diluted earnings per share were $0.49 and $0.48, respectively, for the three months ended March 31, 2026”
Michael R. Lombardi was elected as Director at Magyar Bancorp, Inc..
“On July 25, 2024, the Board of Directors of the Company elected Michael R. Lombardi. to serve as a Director of the Company.”
Earnings Releases
Magyar Bancorp, Inc. reported three and six months ended March 31, 2024 results: net income Net income for the six months ended March 31, 2024 was $3,549,000 compared with net income of $3,606,000 for the six mon, EPS Basic and diluted earnings per share were unchanged at $0.56 for the six months ended March 31, 2024 compared with the s.
“Magyar Bancorp (NASDAQ: MGYR) (“Company”), parent company of Magyar Bank, reported today the results of its operations for the three and six months ended March 31, 2024. The Company reported a 6% increase in its net income for the three months ended March 31, 2024, to $1,897,000 compared with net income of $1,796,000 for the three months ended March 31, 2023. Net income for the six months ended March 31, 2024 was $3,549,000 compared with net income of $3,606,000 for the six months ended March 31, 2023. Basic and diluted earnings per share were $0.30 for the three months ended March 31, 2024 compared with $0.28 for the three months ended March 31, 2023.”
Shareholder Votes
Magyar Bancorp, Inc. shareholders approved Ratification of appointment of S.R. Snodgrass, P.C. as independent registered public accounting firm at the 2024-02-22 meeting.
“Matter 2. The ratification of the appointment of S.R. Snodgrass, P.C. as the Company’s independent registered public accounting firm for the fiscal year ending September 30, 2024. Shares Voted For Shares Voted Against Abstentions Broker non-votes 4,956,126 44,669 47,846 —”
Shareholder Votes
Magyar Bancorp, Inc. shareholders approved Election of directors at the 2024-02-22 meeting.
“Matter 1. The election of Jon R. Ansari, MBA and Andrew G. Hodulik, CPA as directors of the Company, each to serve a three-year term and until their successor is elected and qualified. Nominee Shares Voted For Shares Withheld Broker Non-Votes Jon R. Ansari, MBA 3,996,908 174,857 876,875 Andrew G. Hodulik, CPA 3,281,813 889,952 876,875”
Michael F. Lombardi retired as Director at Magyar Bancorp, Inc..
“Effective upon the completion of the 2024 Annual Meeting of Stockholders of Magyar Bancorp, Inc. (the “Company”), each of Edward C. Stokes and Michael F. Lombardi retired from the Boards of Directors of the Company and Magyar Bank (the “Bank”), the Company’s wholly owned subsidiary, due to reaching the mandatory director retirement age.”
Edward C. Stokes retired as Director at Magyar Bancorp, Inc..
“Effective upon the completion of the 2024 Annual Meeting of Stockholders of Magyar Bancorp, Inc. (the “Company”), each of Edward C. Stokes and Michael F. Lombardi retired from the Boards of Directors of the Company and Magyar Bank (the “Bank”), the Company’s wholly owned subsidiary, due to reaching the mandatory director retirement age.”
Earnings Releases
Magyar Bancorp, Inc. reported three months ended December 31, 2023 results: net income $1.7 million, EPS $0.26.
“The Company reported net income for the three months ended December 31, 2023 of $1.7 million. Net income declined 8.7% from $1.8 million for the three months ended December 31, 2022. Basic and diluted earnings per share were $0.26 for the three months ended December 31, 2023 compared to $0.28 for the three months ended December 31, 2022.”
Earnings Releases
Magyar Bancorp, Inc. reported the year ended September 30, 2023 results: net income $7,709,000, EPS $1.20.
“The Company also reported net income of $7,709,000 for the year ended September 30, 2023 compared with $7,919,000 for the year ended September 30, 2022.”
Earnings Releases
Magyar Bancorp, Inc. reported the three months ended September 30, 2023 results: net income $2,185,000, EPS $0.34.
“The Company reported $2,185,000 in net income for the three months ended September 30, 2023 compared with net income of $2,430,000 for the three months ended September 30, 2022.”
Earnings Releases
Magyar Bancorp, Inc. reported the nine months ended June 30, 2023 results: net income $5,524,000, EPS $0.86.
“Net income for the nine months ended June 30, 2023 was $5,524,000 compared with net income of $5,489,000 for the nine months ended June 30, 2022.”
Earnings Releases
Magyar Bancorp, Inc. reported the three months ended June 30, 2023 results: net income $1,918,000, EPS $0.30.
“The Company reported $1,918,000 in net income for the three months ended June 30, 2023 compared with net income of $2,117,000 for the three months ended June 30, 2022.”
Earnings Releases
Magyar Bancorp, Inc. reported the six months ended March 31, 2023 results: net income $3,606,000, EPS $0.56.
“Net income for the six months ended March 31, 2023 was $3,606,000 compared with net income of $3,372,000 for the six months ended March 31, 2022.”
Earnings Releases
Magyar Bancorp, Inc. reported the three months ended March 31, 2023 results: net income $1,796,000, EPS $0.28.
“The Company reported a 7% increase in its net income for the three months ended March 31, 2023, to $1,796,000 compared with net income of $1,679,000 for the three months ended March 31, 2022.”
Auditor Changes
Magyar Bancorp, Inc. engaged S.R. Snodgrass, P.C. as its auditor.
“Appointment of New Independent Registered Public Accounting Firm The Audit Committee has appointed S.R. Snodgrass, P.C., (“Snodgrass”) to serve as the Company’s independent registered public accounting firm effective February 28, 2023 contingent upon completion of Snodgrass’ client acceptance procedures.”
Auditor Changes
Magyar Bancorp, Inc. dismissed RSM US LLP as its auditor.
“Dismissal of Independent Registered Public Accounting Firm On February 27, 2023, the Audit Committee of the Board of Directors (the “Audit Committee”) of Magyar Bancorp, Inc. (the “Company”) recently conducted a competitive selection process to determine the Company's independent registered public accounting firm for the fiscal year ending September 30, 2023, and as a result of this process, decided to dismiss RSM US LLP (“RSM”) as the Company’s independent registered public accounting firm effective February 27, 2023.”
Shareholder Votes
Magyar Bancorp, Inc. shareholders approved Ratification of the appointment of RSM US LLP as the Company’s independent registered public accounting firm for the fiscal year ending September 30, 2023 at the 2023-02-16 meeting.
“Matter 2. The ratification of the appointment of RSM US LLP as the Company’s independent registered public accounting firm for the fiscal year ending September 30, 2023.”
Shareholder Votes
Magyar Bancorp, Inc. shareholders approved Election of Susan Eisenhauer, Maureen Ruane and Edward C. Stokes, III as directors at the 2023-02-16 meeting.
“Matter 1. The election of Susan Eisenhauer, Maureen Ruane and Edward C. Stokes, III as directors of the Company, each to serve a three-year term and until his or her successor is elected and qualified.”
Earnings Releases
Magyar Bancorp, Inc. reported the three months ended December 31, 2022 results: revenue to $6.9 million, net income to $1.8 million, EPS $0.28.
“lower other expenses, partially offset by higher provisions for loan loss and lower other income. The Company’s net interest and dividend income increased $453,000, or 7.0%, to $6.9 million for the quarter ended December 31, 2022 from $6.4 million for the quarter ended December 31, 2021. The increase was attributable to a 14 basis point increase in the Company’s net”
Earnings Releases
Magyar Bancorp, Inc. reported the three months and twelve months ended September 30, 2022 results: net income net income of $2,430,000, EPS $0.36 and $1.17.
“On November 3, 2022, Magyar Bancorp, Inc. (the "Company") issued a press release regarding its results of operations and financial condition at and for the three months and twelve months ended September 30, 2022.”
Maureen Ruane was elected as Director at Magyar Bancorp, Inc..
“On September 22, 2022, the Board of Directors of Magyar Bancorp, Inc. (the “Company”) elected Susan Eisenhauer, Michael F. Lombardi and Maureen Ruane to serve as Directors of the Company.”
Michael F. Lombardi was elected as Director at Magyar Bancorp, Inc..
“On September 22, 2022, the Board of Directors of Magyar Bancorp, Inc. (the “Company”) elected Susan Eisenhauer, Michael F. Lombardi and Maureen Ruane to serve as Directors of the Company.”
Susan Eisenhauer was elected as Director at Magyar Bancorp, Inc..
“On September 22, 2022, the Board of Directors of Magyar Bancorp, Inc. (the “Company”) elected Susan Eisenhauer, Michael F. Lombardi and Maureen Ruane to serve as Directors of the Company.”
Martin A. Lukacs retired as director at Magyar Bancorp, Inc..
“On February 16, 2022, director Martin A. Lukacs retired from the Board of Directors pursuant to a provision of the Company’s bylaws that requires retirement from the Board at the Annual Meeting immediately following the year in which the Director attains age seventy-five (75).”
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