AI Earnings Predictions for Magyar Bancorp Inc. (MGYR)

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News

400 Somerset St., New Brunswick, NJ 08901

732.342.7600

MAGYAR BANCORP, INC. ANNOUNCES THIRD QUARTER FINANCIAL

RESULTS

AND DECLARES DIVIDEND

New Brunswick, New Jersey, July 23, 2026 – Magyar Bancorp (NASDAQ: MGYR) (“Company”), parent company of Magyar Bank, reported today the results of its operations for the three and nine months ended June 30, 2026.

The Company reported a 25% increase in its net income for the three months ended June 30, 2026, to $3.1 million compared with net income of $2.5 million for the three months ended June 30, 2025. Net income for the nine months ended June 30, 2026 was $9.3 million compared with net income of $7.2 million for the nine months ended June 30, 2025.

Basic and diluted earnings per share were $0.50 and $0.49, respectively, for the three months ended June 30, 2026 compared with $0.40 and $0.40, respectively, for the three months ended June 30, 2025. Basic and diluted earnings per share were $1.49 and $1.47, respectively, for the nine months ended June 30, 2026 compared with $1.16 and $1.16, respectively, for the nine months ended June 30, 2025.

The Company also announced that its Board of Directors approved a quarterly cash dividend of $0.10 per share, which will be paid on August 20, 2026 to stockholders of record as of August 6, 2026.

“We are pleased to report another strong performance for our fiscal third quarter,” stated John Fitzgerald, President and Chief Executive Officer of Magyar Bancorp. “Despite market volatility and inflationary pressures, Magyar Bank’s net interest margin increased 30 basis points compared to the June 30, 2025 quarter. This increase helped produce a 25% increase in net income for the quarter ending June 30, 2026, compared to June 30, 2025. In addition, during the third quarter, Magyar was recognized by Keefe Bruyette & Woods in their 2026 Honor Roll, comprised of elite, high performing banks with consistent earnings growth over the past decade. This is the third consecutive year Magyar has received this honor. We believe the Company is well positioned to continue to produce solid results as we head into the final quarter of our fiscal year.”

Results of Operations for the Three Months Ended June 30, 2026

Net income increased by $623 thousand, or 25.2%, to $3.1 million during the three-month period ended June 30, 2026 compared with $2.5 million during the three-month period ended June 30, 2025, from higher net interest income and other income, partially offset by higher provisions for credit loss, other expenses and income tax expense.

The Company’s net interest and dividend income increased by $1.2 million, or 15.2%, to $9.4 million for the quarter ended June 30, 2026 from the quarter ended June 30, 2025. The increase was attributable to a 30-basis point increase in the Company’s net interest margin to 3.65% for the three months ended June 30, 2026 from 3.35% for the three months ended June 30, 2025, as well as a $57.0 million increase in the average balance of interest-earning assets between the periods.

Interest and dividend income increased by $1.3 million, or 9.0%, to $15.3 million for the three months ended June 30, 2026 compared with $14.0 million for the three months ended June 30, 2025. The increase was attributable to a 17-basis point increase in the yield on interest-earning assets to 5.91% for the three months ended June 30, 2026 from 5.74% for the three months ended June 30, 2025, as well as a $51.9 million, or 6.3%, increase in the average balance of net loans receivable between the periods.

Interest expense increased by $23 thousand, or 0.4%, to $5.8 million for the three months ended June 30, 2026 from the three months ended June 30, 2025. An eight-basis point decrease in the cost of interest-bearing liabilities to 2.94% for the three months ended June 30, 2026 compared with 3.02% for the three months ended June 30, 2025 was offset by a $24.3 million, or 3.1%, increase in the average balance of interest-bearing liabilities between the periods.

The Company recorded a net provision for credit losses totaling $351 thousand for the three months ended June 30, 2026 compared with a net provision for credit losses totaling $101 thousand for the three months ended June 30, 2025. The increase resulted from growth in commercial real estate loans, partially offset by lower one-to-four family mortgage loans, lower construction loan commitments and improving economic data used to determine the Bank’s expected credit losses. The Company recorded $295 thousand in net loan charge-offs during the three months ended June 30, 2026 compared with $3 thousand in net loan recoveries during the three months ended June 30, 2025. During the three months ended June 30, 2026 the Company recorded a $300 thousand charge-off related to unique circumstances involving one construction loan relationship.

Other income increased by $180 thousand, or 28.3%, to $816 thousand during the three months ended June 30,

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MGYR

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2026-01-29 2026-01-29

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(D) OF

THE SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of earliest event reported): January 29, 2026

Magyar Bancorp, Inc.

(Exact Name of Registrant as Specified in Charter)

Delaware 000-51726 20-4154978

(State or Other Jurisdiction) (Commission File No.) (I.R.S. Employer

of Incorporation)

Identification No.)

400 Somerset Street, New Brunswick, New Jersey

08901

(Address of Principal Executive Offices)

(Zip Code)

Registrant's telephone number, including area code: (732) 342-7600

Not Applicable

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of Each Class

Trading Symbol(s)

Name of Each Exchange on Which Registered

Common Stock, par value $0.01 per share

MGYR

The NASDAQ Stock Market, LLC

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging Growth Company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 2.02.Results of Operations and Financial Condition

On January 29, 2026, Magyar Bancorp, Inc. (the “Company”) issued a press release regarding its results of operations and financial condition at and for the three months ended December 31, 2025. The text of the press release is included as Exhibit 99.1 to this report. The information included in the press release text is considered to be “furnished” under the Securities Exchange Act of 1934. The Company will include financial statements and additional analyses at and for the three ended December 31, 2025 as part of its Form 10-Q for the period.

Item 8.01.Other Events

On January 29, 2026, the Company announced that its Board of Directors has approved a quarterly cash dividend of $0.10 per common share to shareholders of record at the close of business on February 12, 2026, payable on February 26, 2026.

The text of the press release, dated January 29, 2026, announcing the dividend, and which also includes the Company’s quarterly earnings announcement, as stated above, is included as Exhibit 99.1 to this report and is incorporated herein by reference.

Item 9.01.Financial Statements and Exhibits

(a)Not applicable.

(b)Not applicable.

(c)Not applicable

(d)Exhibits

Exhibit Description

99.1 Press Release Dated January 29, 2026

104 The cover page for this Current Report on Form 8-K, formatted in Inline XBRL

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, hereunto duly authorized.

MAGYAR BANCORP, INC.

DATE: January 29, 2026 By: /s/ John S. Fitzgerald

John S. Fitzgerald

President and Chief Executive Officer