Magyar Bancorp Inc (NASDAQ: MGYR) is a community banking company that operates through its subsidiary Magyar Bank, accepting deposits and originating loans. Revenue comes primarily from net interest income: the spread between interest earned on loans and investment securities and interest paid on deposits and borrowings. Total average deposits were $841.3 million for the year ended September 30, 2025, up from $786.8 million for the year ended September 30, 2024. The deposit base is weighted toward money market accounts (37.91% of average deposits, FY2025) and NOW accounts (20.10%), with certificates of deposit comprising 18.87%. The loan portfolio includes one-to-four family residential mortgages and commercial real estate loans. Total loans carried an allowance for credit losses of $8.4 million as of September 30, 2025. Investment securities totaled $88.4 million as of September 30, 2025. The company pays common stock dividends and has repurchased treasury shares. Magyar Bancorp's fiscal year ends September 30.

Revenue model

Net interest income from the spread between loan and investment yields and deposit funding costs. Deposit types include demand accounts, savings, NOW, money market, certificates of deposit, and retirement accounts. The bank also holds investment securities including U.S. Treasuries, agency debt, mortgage-backed securities, and municipal debt.

Products and services

Deposit accounts (demand, savings, NOW, money market, certificates of deposit, retirement accounts); residential mortgage loans (one-to-four family); commercial real estate loans; investment securities portfolio including U.S. Treasury obligations, agency securities, mortgage-backed securities, corporate debt, and municipal securities; Federal Home Loan Bank of New York borrowings as a funding source.

Customers and end markets

Retail deposit customers and commercial real estate borrowers. Non-performing loans consisted of four loans secured by one-to-four family properties totaling $451 thousand as of September 30, 2025. Commercial real estate asset quality was strong with $0 non-performing commercial real estate loans as of September 30, 2025.

Value-chain role

Community bank intermediary: accepts retail and commercial deposits, deploys funds into residential and commercial real estate loans and investment securities, and borrows from the Federal Home Loan Bank of New York for additional liquidity.

Source: SEC 10-K, filed 2025-12-19

Industry: Savings Institution, Federally Chartered Peers: Broadway Financial Corp Cullman Bancorp, Inc. Finance of America Companies Inc HMN FINANCIAL INC Rhinebeck Bancorp Inc Provident Financial Holdings Inc Rocket Companies Inc