Financial Position - Total assets increased by $41.3 million, or 5.2%, to $839.9 million at March 31, 2023, from $798.5 million at September 30, 2022[106]. - Total loans receivable rose by $48.0 million, or 7.6%, to $676.9 million at March 31, 2023, with commercial real estate loans increasing by $49.5 million, or 14.4%[109]. - Total deposits increased by $30.2 million, or 4.5%, to $697.9 million at March 31, 2023, driven by a $20.2 million increase in money market accounts[116]. - Stockholders' equity increased by $2.7 million, or 2.7%, to $101.2 million at March 31, 2023, with a book value per share rising to $15.12[119]. - The aggregate amount of deposit accounts of state and local municipalities increased to $201.6 million at March 31, 2023, compared to $140.6 million at September 30, 2022[117]. Loan Performance - Non-performing loans increased by $560,000, or 19.8%, to $3.4 million at March 31, 2023, with the ratio of non-performing loans to total loans rising to 0.50%[111]. - The allowance for loan losses increased by $411,000 to $8.8 million, with the allowance as a percentage of total loans at 1.31%[112][113]. - Provision for loan losses increased to $195,000 for the three months ended March 31, 2023, compared to $71,000 for the same period in 2022, reflecting growth in the loan portfolio and an increase in delinquent loans[136]. Income and Expenses - Net income increased by $117,000, or 7.0%, to $1.8 million for the three months ended March 31, 2023, compared to $1.7 million for the same period in 2022[127]. - Net interest and dividend income rose by $569,000, or 8.9%, to $6.9 million for the three months ended March 31, 2023, from $6.4 million in the prior year[128]. - Interest and dividend income increased by $2.3 million, or 32.9%, to $9.2 million for the three months ended March 31, 2023, compared to $6.9 million in the same period of 2022[129]. - Interest expense surged by $1.7 million, or 323.6%, to $2.2 million for the three months ended March 31, 2023, from $526,000 in the same period of 2022[132]. - Other income rose by $59,000, or 10.3%, to $631,000 during the three months ended March 31, 2023, driven by higher gains from the sale of Small Business Administration 7(a) loans[138]. Interest Rates and Margins - The yield on interest-earning assets increased by 113 basis points to 4.78% for the three months ended March 31, 2023, from 3.65% for the same period in 2022[129]. - The cost of interest-bearing liabilities increased by 133 basis points to 1.75% for the three months ended March 31, 2023, compared to 0.42% for the same period in 2022[132]. - Net interest and dividend income increased by $1.0 million, or 8.0%, to $13.8 million for the six months ended March 31, 2023, attributed to a 16 basis point increase in net interest margin to 3.61%[143]. - Interest and dividend income surged by $3.8 million, or 27.1%, to $17.7 million for the six months ended March 31, 2023, due to an 86 basis point increase in yield to 4.61%[144]. - Interest expense increased by $2.7 million, or 249.9%, to $3.8 million for the six months ended March 31, 2023, primarily due to higher costs of interest-bearing liabilities[147]. Borrowings and Commitments - Borrowings increased by $9.9 million, or 63.4%, to $25.5 million at March 31, 2023, to fund the growth in loans receivable[118]. - The Company had an aggregate borrowing capacity of $102.7 million based on eligible loan collateral pledged to the FHLBNY at March 31, 2023[157]. - Commitments to fund undisbursed balances of closed loans and unused lines of credit totaled $94.8 million as of March 31, 2023[158]. Tax and Capital Ratios - The Company's effective tax rate for the three months ended March 31, 2023, was 30.5%, compared to 29.1% for the same period in 2022[141]. - Total qualifying capital as a percentage of risk-weighted assets was 15.87% as of March 31, 2023[159].

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended December 31, 2022 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from __________ to __________ Commission File Number 000-51726 Magyar Bancorp, Inc. (Exact Name of Registrant as Specified in Its Charter) Delaware 20-4154978 (State or Other ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2022 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from___________to___________ Commission File Number 000-51726 Magyar Bancorp, Inc. (Exact Name of Registrant as Specified in Its Charter) Delaware 20-4154978 (State or Other Juri ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2022 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from___________to ___________ Commission File Number 000-51726 Magyar Bancorp, Inc. (Exact Name of Registrant as Specified in Its Charter) Delaware 20-4154978 (State or Other Ju ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended December 31, 2021 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _______________ to _______________ Commission File Number 000-51726 Magyar Bancorp, Inc. (Exact Name of Registrant as Specified in Its Charter) Delaware 20-4154978 (Stat ...

SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Fiscal Year Ended September 30, 2021 OR ☐ TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from __________ to ______________ Commission File Number: 000-51726 Magyar Bancorp, Inc. (Exact Name of Registrant as Specified in its Charter) Delaware 20-4154978 (State or Other Jurisdiction of Incorpor ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☑ QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2021 Commission File Number 000-51726 Magyar Bancorp, Inc. (Exact Name of Registrant as Specified in Its Charter) (State or Other Jurisdiction of Incorporation or Organization) (I.R.S. Employer Identification Number) 400 Somerset Street, New Brunswick, New Jersey 08901 (Address of Principal Executive Offi ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☑ QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2021 Commission File Number 000-51726 Magyar Bancorp, Inc. (Exact Name of Registrant as Specified in Its Charter) Delaware 20-4154978 (State or Other Jurisdiction of Incorporation or Organization) (I.R.S. Employer Identification Number) 400 Somerset Street, New Brunswick, New Jersey 08901 (Address of Pri ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☑ QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended December 31, 2020 Commission File Number 000-51726 Magyar Bancorp, Inc. (Exact Name of Registrant as Specified in Its Charter) Delaware 20-4154978 (State or Other Jurisdiction of Incorporation or Organization) (I.R.S. Employer Identification Number) 400 Somerset Street, New Brunswick, New Jersey 08901 (Address of ...

SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K þ ANNUAL REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Fiscal Year Ended September 30, 2020 OR o TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from __________ to ______________ Commission File Number: 000-51726 Magyar Bancorp, Inc. (Exact Name of Registrant as Specified in its Charter) Delaware 20-4154978 (State or Other Jurisdiction of Incorpor ...