MGYR press release
Key Highlights
- ➤Fiscal-year net income $12.6 million, up 29% year over year
- ➤Quarterly net income $3.3 million, up 31% year over year
- ➤Quarterly dividend raised to $0.12 per share, payable November 24
- ➤Fiscal-year loans receivable rose 5.7% to $908.2 million
- ➤Commercial real estate loans increased 12.1% to $597.5 million
Expert Statements
John Fitzgerald, President and Chief Executive Officer of Magyar Bancorp
“We are proud to announce another year of record earnings for Magyar Bancorp”
John Fitzgerald, President and Chief Executive Officer of Magyar Bancorp
“Despite a volatile interest rate environment, our business strategy produced a 35 basis point increase in our net interest margin from the prior year, driven by strong loan and deposit growth and prudent balance sheet management.”
John Fitzgerald, President and Chief Executive Officer of Magyar Bancorp
“As a result of our strong performance, we are pleased to announce the increase to our quarterly dividend to $0.12 per share.”
John Fitzgerald, President and Chief Executive Officer of Magyar Bancorp
“This is Magyar Bancorp's second increase in the dividend this fiscal year.”
John Fitzgerald, President and Chief Executive Officer of Magyar Bancorp
“As we look ahead into 2027, we feel the Bank is well positioned to continue our strong performance.”
MAGYAR BANCORP, INC. ANNOUNCES FISCAL FOURTH QUARTER AND FISCAL YEAR END FINANCIAL RESULTS, DECLARES QUARTERLY DIVIDEND PR Newswire
NEW BRUNSWICK, N.J., Oct. 28, 2026 /PRNewswire/ -- Magyar Bancorp (NASDAQ: MGYR) (the "Company"), parent company of Magyar Bank, reported today the results of its operations for the three months and fiscal year ended September 30, 2026.
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