Magyar Bancorp, Inc. (MGYR) 10-Year Financial Performance & Capital Metrics

MGYR • • Banking & Credit

Financial ServicesRegional BanksCommunity & Regional Retail BankingNortheast Community Banks

AboutMagyar Bancorp, Inc. operates as the holding company for Magyar Bank that provides various consumer and commercial banking services to individuals, businesses, and nonprofit organizations in New Jersey, the United States. It accepts various deposit accounts, including demand, savings, NOW, money market, and retirement accounts, as well as certificates of deposit. The company also provides residential mortgage loans, multi-family and commercial real estate mortgage loans, home equity loans and lines of credit, commercial business loans, and construction loans, as well as small business administration loans. In addition, it offers non-deposit investment products and financial planning services, including insurance products, fixed and variable annuities, and retirement planning for individual and commercial customers; and buys, sells, and holds investment securities. The company has seven branch offices located in New Brunswick, North Brunswick, South Brunswick, Branchburg, Bridgewater, and Edison, New Jersey. Magyar Bancorp, Inc. was founded in 1922 and is headquartered in New Brunswick, New Jersey.Show more

Net Interest Income $28M +0.9%
Total Revenue $52M +27.9%
Net Income $8M +1.0%
Return on Equity 7.23% -4.7%
Net Interest Margin 2.94% -3.9%
Efficiency Ratio 39.02% -17.6%
ROA 0.84% -7.4%
Equity / Assets 11.61% +0.5%
Book Value per Share 17.43 +6.9%
Tangible BV/Share 17.41 +6.8%
Debt/Equity 0.26 -20.1%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Strong 5Y profit CAGR of 21.0%
✓Efficient operations: 39.0% efficiency ratio
✓Well capitalized: 11.6% equity/assets
✓Trading at only 1.0x book value

✗Weaknesses

No significant weaknesses identified

Price & Volume

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Growth Metrics

Revenue CAGR

10Y9.79%

5Y12.48%

3Y18.13%

TTM-

Profit (Net Income) CAGR

10Y29.78%

5Y21.04%

3Y8.34%

TTM31.7%

EPS CAGR

10Y28.53%

5Y19.25%

3Y6.79%

TTM34.19%

ROCE

10Y Avg4.76%

5Y Avg6.61%

3Y Avg7.97%

Latest7.45%

Peer Comparison

Northeast Community Banks

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
DCOMDime Community Bancshares, Inc.	1.37B	31.13	56.60	0.1%	4.5%	4.02%	6.79%	0.70
EBCEastern Bankshares, Inc.	4.4B	19.56	29.64	91.64%	11.17%	1.3%	6.14%	0.01
LYGLloyds Banking Group plc	80.5B	5.48	21.92	10.79%	11.75%	9.93%		1.76
CFGCitizens Financial Group, Inc.	26.03B	60.61	20.00	1.31%	12.22%	6.6%	7.22%	0.51
PFSProvident Financial Services, Inc.	2.65B	20.29	19.32	63.91%	10.13%	7.51%	16.04%	0.93
CBUCommunity Bank System, Inc.	3.3B	62.73	18.24	24.44%	19.4%	10.34%	6.71%	0.57
VLYValley National Bancorp	6.7B	12.02	17.42	6.51%	10.65%	6.53%	8.18%	0.50
INDBIndependent Bank Corp.	3.8B	76.62	16.95	6.89%	19.72%	7.76%	5.51%	0.23

Profit & Loss

	Sep 2015	Sep 2016	Sep 2017	Sep 2018	Sep 2019	Sep 2020	Sep 2021	Sep 2022	Sep 2023	Sep 2024
Net Interest Income+	16.24M	16.92M	18.2M	19.7M	20.39M	21.41M	25.59M	27.02M	27.73M	27.97M
NII Growth %	0.01%	0.04%	0.08%	0.08%	0.04%	0.05%	0.19%	0.06%	0.03%	0.01%
Net Interest Margin %	-	-	-	-	-	-	-	-	-	-
Interest Income	19.44M	20.45M	21.98M	24.35M	27.1M	26.93M	28.53M	29.5M	38.07M	48.57M
Interest Expense	3.2M	3.53M	3.77M	4.65M	6.71M	5.51M	2.94M	2.48M	10.33M	20.6M
Loan Loss Provision	1.26M	1.37M	1.34M	997K	668K	1.67M	1.63M	304K	381K	90K
Non-Interest Income+	1.71M	1.93M	1.73M	1.8M	1.85M	1.41M	3.09M	2.71M	2.67M	3.55M
Non-Interest Income %	-	-	-	-	-	-	-	-	-	-
Total Revenue+	21.15M	22.38M	23.71M	26.15M	28.95M	28.34M	31.62M	32.22M	40.74M	52.12M
Revenue Growth %	0.03%	0.06%	0.06%	0.1%	0.11%	-0.02%	0.12%	0.02%	0.26%	0.28%
Non-Interest Expense	15.38M	15.72M	16.18M	17M	17.31M	18.05M	18.32M	18.26M	19.29M	20.34M
Efficiency Ratio	-	-	-	-	-	-	-	-	-	-
Operating Income+	1.31M	1.75M	2.42M	3.5M	4.26M	3.11M	8.72M	11.17M	10.74M	11.1M
Operating Margin %	-	-	-	-	-	-	-	-	-	-
Operating Income Growth %	0.73%	0.34%	0.38%	0.45%	0.22%	-0.27%	1.8%	0.28%	-0.04%	0.03%
Pretax Income+	1.31M	1.75M	2.42M	3.5M	4.26M	3.11M	8.72M	11.17M	10.74M	11.1M
Pretax Margin %	-	-	-	-	-	-	-	-	-	-
Income Tax+	413K	664K	994K	1.47M	1.26M	921K	2.6M	3.25M	3.03M	3.32M
Effective Tax Rate %	-	-	-	-	-	-	-	-	-	-
Net Income+	897K	1.09M	1.42M	2.03M	3M	2.19M	6.12M	7.92M	7.71M	7.78M
Net Margin %	-	-	-	-	-	-	-	-	-	-
Net Income Growth %	0.56%	0.22%	0.3%	0.43%	0.48%	-0.27%	1.79%	0.29%	-0.03%	0.01%
Net Income (Continuing)	897K	1.09M	1.42M	2.03M	3M	2.19M	6.12M	7.92M	7.71M	7.78M
EPS (Diluted)+	0.15	0.19	0.24	0.35	0.51	0.38	1.01	1.17	1.20	1.23
EPS Growth %	0.5%	0.27%	0.26%	0.46%	0.46%	-0.25%	1.66%	0.16%	0.03%	0.03%
EPS (Basic)	0.15	0.19	0.24	0.35	0.51	0.38	1.01	1.17	1.20	1.23
Diluted Shares Outstanding	5.98M	5.74M	5.93M	5.8M	5.87M	5.76M	6.04M	6.78M	6.42M	6.34M

Balance Sheet

	Sep 2015	Sep 2016	Sep 2017	Sep 2018	Sep 2019	Sep 2020	Sep 2021	Sep 2022	Sep 2023	Sep 2024
Cash & Short Term Investments+	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Cash & Due from Banks	18.11M	21.81M	22.33M	15.37M	21.47M	61.73M	75.2M	30.94M	72.53M	25.6M
Short Term Investments	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Total Investments+	479.27M	513.2M	533.88M	564.54M	564.4M	648.11M	655.89M	720.72M	785.03M	868.05M
Investments Growth %	0.03%	0.07%	0.04%	0.06%	-0%	0.15%	0.01%	0.1%	0.09%	0.11%
Long-Term Investments	473.21M	507.96M	522.06M	542.08M	547.7M	633.55M	642.96M	711.49M	774.9M	852.43M
Accounts Receivables	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Goodwill & Intangibles+	-	-	-	-	-	-	-	-	-	-
Goodwill	0	0	0	0	0	0	0	0	0	0
Intangible Assets	0	0	0	0	0	0	0	0	28K	159K
PP&E (Net)	17.82M	18.08M	17.57M	16.99M	16.17M	14.75M	14.33M	13.88M	13.34M	12.54M
Other Assets	33.66M	29.58M	27.34M	24.89M	26.15M	25.38M	25.04M	29.53M	32.03M	40.52M
Total Current Assets	25.88M	28.75M	36.08M	40.02M	40.3M	80.32M	91.66M	43.64M	86.99M	46.27M
Total Non-Current Assets	524.69M	555.63M	566.97M	583.95M	590.02M	673.68M	682.33M	754.9M	820.3M	905.65M
Total Assets+	550.57M	584.38M	603.04M	623.97M	630.33M	754M	773.99M	798.54M	907.29M	951.92M
Asset Growth %	0.04%	0.06%	0.03%	0.03%	0.01%	0.2%	0.03%	0.03%	0.14%	0.05%
Return on Assets (ROA)	0%	0%	0%	0%	0%	0%	0.01%	0.01%	0.01%	0.01%
Accounts Payable	102K	115K	105K	193K	191K	191K	85K	85K	443K	891K
Total Debt+	31.59M	36.04M	31.91M	35.52M	36.19M	67.41M	23.36M	20.37M	33.9M	28.57M
Net Debt	13.49M	14.23M	9.57M	20.16M	14.72M	5.68M	-51.84M	-10.57M	-38.63M	2.97M
Long-Term Debt	31.59M	36.04M	31.91M	35.52M	36.19M	67.41M	23.36M	15.63M	29.52M	25.07M
Short-Term Debt	0	0	0	0	0	0	0	4.74M	4.38M	3.5M
Other Liabilities	5.93M	7.85M	6.38M	6.75M	9.22M	11.22M	13.09M	11.86M	12.71M	15.24M
Total Current Liabilities	466.37M	492.76M	515.31M	530.33M	530.27M	618.52M	639.9M	672.56M	760.28M	801.07M
Total Non-Current Liabilities	37.52M	43.89M	38.28M	42.28M	45.41M	78.63M	36.45M	27.48M	42.22M	40.3M
Total Liabilities	503.9M	536.65M	553.59M	572.61M	575.68M	697.15M	676.35M	700.04M	802.5M	841.37M
Total Equity+	46.67M	47.73M	49.46M	51.36M	54.65M	56.85M	97.64M	98.5M	104.79M	110.55M
Equity Growth %	0.02%	0.02%	0.04%	0.04%	0.06%	0.04%	0.72%	0.01%	0.06%	0.05%
Equity / Assets (Capital Ratio)	-	-	-	-	-	-	-	-	-	-
Return on Equity (ROE)	0.02%	0.02%	0.03%	0.04%	0.06%	0.04%	0.08%	0.08%	0.08%	0.07%
Book Value per Share	7.80	8.31	8.34	8.86	9.30	9.86	16.17	14.52	16.31	17.43
Tangible BV per Share	-	-	-	-	-	-	-	-	-	-
Common Stock	59K	59K	59K	59K	59K	59K	71K	71K	71K	71K
Additional Paid-in Capital	26.27M	26.27M	26.29M	26.31M	26.32M	26.29M	63.71M	63.73M	62.8M	63.09M
Retained Earnings	23.25M	24.33M	25.76M	27.98M	30.97M	33.16M	39.28M	45.77M	52.17M	58.64M
Accumulated OCI	-999K	-1.16M	-1M	-1.47M	-1.33M	-1.36M	-947K	-2.11M	-1.79M	-916K
Treasury Stock	-1.17M	-1.15M	-1.15M	-1.15M	-1.15M	-1.24M	-1.24M	-5.79M	-5.36M	-7.36M
Preferred Stock	0	0	0	0	0	0	0	0	0	0

Cash Flow

	Sep 2015	Sep 2016	Sep 2017	Sep 2018	Sep 2019	Sep 2020	Sep 2021	Sep 2022	Sep 2023	Sep 2024
Cash from Operations+	12.5M	8.51M	3.6M	4.62M	5.79M	814K	9.26M	11.2M	8.48M	6.32M
Operating CF Growth %	1.25%	-0.32%	-0.58%	0.28%	0.25%	-0.86%	10.37%	0.21%	-0.24%	-0.26%
Net Income	897K	1.09M	1.42M	2.03M	3M	2.19M	6.12M	7.92M	7.71M	7.78M
Depreciation & Amortization	845K	778K	816K	861K	871K	854K	835K	839K	840K	890K
Deferred Taxes	403K	605K	997K	710K	-292K	-880K	-178K	152K	-615K	33K
Other Non-Cash Items	10.35M	4.62M	1.53M	965K	507K	1.73M	1.59M	55K	139K	-1.65M
Working Capital Changes	-113K	1.29M	-1.32M	-101K	1.56M	-3.2M	782K	2.05M	-375K	-1.54M
Cash from Investing+	-23.71M	-36.01M	-21.76M	-30.49M	-405K	-79.96M	-8.2M	-69.74M	-66.05M	-90.29M
Purchase of Investments	-9.7M	-17.05M	-13.41M	-4.93M	-4.73M	-19.78M	-49.47M	-41.14M	-6.55M	-12.48M
Sale/Maturity of Investments	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Net Investment Activity	-	-	-	-	-	-	-	-	-	-
Acquisitions	0	0	0	0	0	0	0	0	0	0
Other Investing	-25.96M	-36.19M	-16.04M	-36.66M	-11.11M	-81.01M	18.27M	-37.13M	-70.47M	-90.78M
Cash from Financing+	19.06M	31.19M	18.68M	18.9M	717K	119.4M	12.41M	14.28M	99.17M	37.04M
Dividends Paid	0	0	0	0	0	0	0	-1.43M	-1.31M	-1.68M
Share Repurchases	0	0	0	0	0	-90K	0	-4.55M	-1.22M	-2.37M
Stock Issued	0	0	0	0	0	0	37.43M	0	0	0
Net Stock Activity	-	-	-	-	-	-	-	-	-	-
Debt Issuance (Net)	1000K	1000K	-1000K	1000K	665K	1000K	-1000K	-1000K	1000K	-947K
Other Financing	12.96M	26.75M	22.82M	15.28M	52K	88.27M	19.04M	27.99M	87.81M	42.04M
Net Change in Cash+	7.85M	3.7M	528K	-6.97M	6.1M	40.26M	13.47M	-44.27M	41.6M	-46.94M
Exchange Rate Effect	0	0	0	0	0	0	0	0	0	0
Cash at Beginning	10.26M	18.11M	21.81M	22.33M	15.37M	21.47M	61.73M	75.2M	30.94M	72.53M
Cash at End	18.11M	21.81M	22.33M	15.37M	21.47M	61.73M	75.2M	30.94M	72.53M	25.6M
Interest Paid	3.21M	3.52M	3.78M	4.56M	6.71M	5.51M	3.05M	2.48M	9.98M	20.15M
Income Taxes Paid	14K	4K	36K	1.07M	1.06M	2.27M	2.75M	3.14M	3.25M	2.87M
Free Cash Flow+	12.42M	8.33M	3.3M	4.34M	5.74M	667K	8.84M	10.81M	8.18M	5.51M
FCF Growth %	1.29%	-0.33%	-0.6%	0.31%	0.32%	-0.88%	12.25%	0.22%	-0.24%	-0.33%

Banking Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	1.94%	2.31%	2.93%	4.03%	5.65%	3.93%	7.92%	8.07%	7.58%	7.23%
Return on Assets (ROA)	0.17%	0.19%	0.24%	0.33%	0.48%	0.32%	0.8%	1.01%	0.9%	0.84%
Net Interest Margin	2.95%	2.9%	3.02%	3.16%	3.24%	2.84%	3.31%	3.38%	3.06%	2.94%
Efficiency Ratio	72.72%	70.27%	68.23%	65.02%	59.8%	63.68%	57.95%	56.68%	47.34%	39.02%
Equity / Assets	8.48%	8.17%	8.2%	8.23%	8.67%	7.54%	12.62%	12.34%	11.55%	11.61%
Book Value / Share	7.8	8.31	8.34	8.86	9.3	9.86	16.17	14.52	16.31	17.43
NII Growth	1.06%	4.17%	7.6%	8.22%	3.51%	5.01%	19.49%	5.6%	2.65%	0.87%
Dividend Payout	-	-	-	-	-	-	-	18.02%	17.06%	21.57%

Frequently Asked Questions

Valuation & Price

Magyar Bancorp, Inc. (MGYR) has a price-to-earnings (P/E) ratio of 14.4x. This may indicate the stock is undervalued or faces growth challenges.

Growth & Financials

Magyar Bancorp, Inc. (MGYR) grew revenue by 27.9% over the past year. This is strong growth.

Yes, Magyar Bancorp, Inc. (MGYR) is profitable, generating $9.8M in net income for fiscal year 2024 (14.9% net margin).

Dividend & Returns

Yes, Magyar Bancorp, Inc. (MGYR) pays a dividend with a yield of 1.50%. This makes it attractive for income-focused investors.

Magyar Bancorp, Inc. (MGYR) has a return on equity (ROE) of 7.2%. This is below average, suggesting room for improvement.

Industry Metrics

Magyar Bancorp, Inc. (MGYR) has a net interest margin (NIM) of 2.9%. NIM has been under pressure due to interest rate environment.

Magyar Bancorp, Inc. (MGYR) has an efficiency ratio of 39.0%. This is excellent, indicating strong cost control.

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