Magyar Bancorp(US:MGYR) Prnewswire·2025-10-30 20:01Core Insights - Magyar Bancorp reported a net income of $2.5 million for Q3 2025, unchanged from Q3 2024, and a net income of $9.8 million for the fiscal year 2025, up from $7.8 million in 2024, representing a 25.6% increase [2][5]. Financial Performance - Basic and diluted earnings per share for Q3 2025 were $0.41 and $0.40, respectively, consistent with Q3 2024 [3]. - For the fiscal year 2025, basic and diluted earnings per share increased to $1.57 and $1.56, respectively, from $1.23 in 2024 [3]. - The Board of Directors declared a quarterly cash dividend of $0.08 per share, payable on November 25, 2025 [3]. Revenue and Income Analysis - Net interest and dividend income rose by $1.4 million, or 19.6%, to $8.4 million for Q3 2025 compared to $7.0 million in Q3 2024 [6]. - The net interest margin increased by 39 basis points to 3.47% for Q3 2025 from 3.08% in Q3 2024 [6]. - Interest and dividend income for Q3 2025 increased by $1.5 million, or 11.9%, to $14.3 million [7]. Expense and Provision Insights - Non-interest expenses increased by $140 thousand, or 2.7%, to $5.3 million during Q3 2025, primarily due to higher compensation expenses [14]. - The provision for credit losses was $229 thousand for Q3 2025, compared to a net recovery of $351 thousand in Q3 2024 [10]. Balance Sheet Overview - Total assets increased by $10.2 million, or 1.0%, to $997.7 million during Q3 2025 [19]. - Total loans receivable increased by $13.5 million, or 1.6%, during Q3 2025, and by $77.7 million, or 9.9%, for the fiscal year [23]. - Total deposits decreased by $5.7 million, or 0.7%, during Q3 2025, but increased by $17.6 million, or 2.2%, for the fiscal year [28]. Stock Performance and Market Reaction - The stock price of Magyar Bancorp increased by 40% from September 30, 2024, to September 30, 2025, reflecting positive market sentiment towards the company's performance [4].