Magyar Bancorp (MGYR) Q3 2026 earnings summary

Executive summary

• Net income for the quarter ended June 30, 2026 rose 25.2% year-over-year to $3.1 million, and for the nine months increased 28.0% to $9.3 million, driven by higher net interest income and improved asset quality.

• Basic EPS increased to $0.50 for the quarter and $1.49 for the nine months, compared to $0.40 and $1.16, respectively, in the prior year.

• Total assets grew 5.1% to $1.048 billion from September 30, 2025, with notable increases in loans receivable, investment securities, and deposits.

• Stockholders' equity increased 6.5% to $126.6 million, with book value per share rising to $19.61 at June 30, 2026.

• Quarterly cash dividend of $0.10 per share declared, payable August 20, 2026.

Financial highlights

• Net interest and dividend income for the quarter rose 15.2% year-over-year to $9.4 million; for the nine months, it increased 17.1% to $27.5 million.

• Net interest margin improved to 3.65% for the quarter and 3.63% for the nine months, up from 3.35% and 3.30% respectively in the prior year periods.

• Return on average assets was 1.14% for the quarter and 1.16% for the nine months; return on average equity was 10.24% and 9.68%, respectively.

• Total loans receivable increased 3.6% to $890.0 million, with commercial real estate loans up $56.6 million, partially offset by declines in other loan categories.

• Allowance for credit losses was $8.9 million or 1.00% of total loans; net loan charge-offs were $295 thousand for the quarter and $290 thousand for the nine months.

Outlook and guidance

• Management expects continued solid results into the final quarter, citing strong net interest margin and operational performance despite market volatility and inflationary pressures.

• Asset quality and risk management remain strong, with no non-performing commercial real estate loans and a low ratio of non-performing assets to total assets (0.03%).

• Liquidity remains robust, with significant borrowing capacity at the FHLBNY and FRBNY.