Magyar Bancorp(MGYR) - 2025 Q4 - Annual Results

Financial Performance - The Company reported net income of $2.5 million for Q4 2025, unchanged from Q4 2024, and a net income of $9.8 million for the fiscal year 2025, up 25.6% from $7.8 million in fiscal year 2024[3][7]. - Basic and diluted earnings per share for Q4 2025 were $0.41 and $0.40, respectively, consistent with Q4 2024, while for the fiscal year 2025, they increased to $1.57 and $1.56 from $1.23 in fiscal year 2024[4]. - Net income for the year ended September 30, 2025, was $9.76 million, an increase from $7.78 million in the previous year, representing a growth of 25.4%[40]. - Other income for the year ended September 30, 2025, was $3.71 million, slightly up from $3.61 million in the previous year, indicating a growth of 2.2%[40]. Dividends and Shareholder Returns - The Company declared a quarterly cash dividend of $0.08 per share, payable on November 25, 2025[5]. - The company did not repurchase any shares during the three months ended September 30, 2025, but had repurchased 20,000 shares at an average price of $15.42 per share for the year[34]. Income and Expenses - Net interest and dividend income for Q4 2025 increased by $1.4 million, or 19.6%, to $8.4 million compared to $7.0 million in Q4 2024[8]. - Non-interest income decreased by $1.1 million, or 56.8%, to $853 thousand in Q4 2025, primarily due to the absence of gains from the sale of real estate[16]. - Non-interest expenses increased by $140 thousand, or 2.7%, to $5.3 million in Q4 2025, driven by higher compensation expenses[18]. - Interest and dividend income for the three months ended September 30, 2025, was $14.29 million, compared to $12.76 million for the same period in 2024, marking an increase of 11.9%[40]. Asset Quality and Loans - The allowance for credit losses increased by $802 thousand to $8.4 million for the year ended September 30, 2025, compared to $7.5 million for the previous year[28]. - The ratio of non-performing loans to total loans was 0.05% at September 30, 2025, compared to 0.03% at September 30, 2024[27]. - Total loans receivable increased by $13.5 million, or 1.6%, in Q4 2025, and by $77.7 million, or 9.9%, year-over-year to $858.9 million[26]. - Non-performing loans accounted for 0.97% of total loans receivable[41]. - Non-performing assets represented 0.26% of total assets[41]. - The overall asset quality remains stable with a focus on managing non-performing loans[41]. Equity and Assets - Book value per share increased to $18.34 at September 30, 2025, from $16.98 at September 30, 2024, reflecting a growth of 8.0%[35]. - The company’s total equity increased by $8.3 million, or 7.5%, to $118.8 million at September 30, 2025, from $110.5 million at September 30, 2024[35]. - Total assets amounted to $997,660,000, while total liabilities were $951,918,000[41]. - Total equity for shareholders reached $118,842,110[41].