Magyar Bancorp, Inc.

Magyar Bancorp, Inc. reported solid financial results for the first quarter of fiscal year 2026, demonstrating stable core banking performance. Net income for the period ending December 31, 2025, was $3.1 million, driven primarily by a robust net interest and dividend income of $8.9 million. The company successfully managed interest expenses, which totaled $5.7 million, resulting in a healthy net interest margin. Total other income contributed $798K, significantly supported by gains on SBA loans ($258K) and net gains on OREO ($224K). On the balance sheet front, total assets reached $1.05 billion, with loans receivable comprising the largest portion at $876.1 million. Stockholders' equity stood strong at $121.7 million. Cash flow activities reflected significant strategic moves, with net cash provided by financing activities totaling $44.5 million, largely due to a $44.8 million increase in deposits, which offset the $21.1 million used in investing activities. The company maintained a solid liquidity position with $34.1 million in total cash and cash equivalents.

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