8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

---

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(D) OF

THE SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of earliest event reported): September

13, 2022

MAGYAR BANCORP, INC.

(Exact Name of Registrant as Specified in Charter)

Delaware	000-51726	20-4154978
(State or Other Jurisdiction)	(Commission File No.)	(I.R.S. Employer
of Incorporation)		Identification No.)
400 Somerset Street, New Brunswick, New Jersey		08901
(Address of Principal Executive Offices)		(Zip Code)

Registrant's telephone number, including area code: (732) 342-7600

Not Applicable

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

☐	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
---	---
☐	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
---	---
☐	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
---	---

Securities registered pursuant to Section 12(b) of the Act:

Title of Each Class	Trading Symbol(s)	Name of Each Exchange<br> on Which Registered
Common<br>Stock, par value $0.01 per share	MGYR	The NASDAQ Stock Market, LLC

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging Growth Company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 7.01	Regulation FD Disclosure

On September 13, 2022, Magyar Bancorp, Inc. (the “Company”), the parent company of Magyar Bank, made available and distributed to analysts and prospective investors a slide presentation. The presentation materials include information regarding the Company’s operating and financial performance. The slide presentation is furnished in this Current Report on Form 8-K, pursuant to this Item 7.01, as Exhibit 99.1, and is incorporated herein by reference.

This Current Report and the information furnished as an exhibit hereto shall not be deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (“Exchange Act”), nor shall it be incorporated by reference into a filing under the Securities Act of 1933, as amended, or the Exchange Act, except as expressly set forth by specific reference in such a filing. The furnishing of the information in this Current Report is not intended to, and does not, constitute a determination or admission by the Company that the information in this report is material or complete, or that investors should consider this information before making an investment decision with respect to any security of the Company.

---

Item 9.01	Financial Statements and Exhibits
(a)	Not applicable.
---	---
(b)	Not applicable.
---	---
(c)	Not applicable
---	---
(d)	Exhibits
---	---

---

99.1	Presentation Materials Dated September 13, 2022
104	The cover page for this Current Report on Form 8-K, formatted in Inline XBRL
---	---

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, hereunto duly authorized.

		MAGYAR BANCORP, INC.
DATE: September 13, 2022	By:	/s/ John S. Fitzgerald
		John S. Fitzgerald
		President and Chief Executive Officer

1 Virtual Bank Conference September 13, 2022

Forward Looking Statements This presentation contains statements about future events that constitute forward-looking statements within the meaning of the Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934.Such forward-looking statements may be identified by reference to a future period or periods, or by the use of forward-looking terminology, such as “may,” “will,” “believe,” “expect,” or similar terms or variations on those terms, or the negative of those terms.Forward-looking statements are subject to numerous risks and uncertainties, includingthose risk-factors previously disclosed in the Company’s filings with the SEC, and the following: general economic conditions, changes in interest rates, regulatory considerations, competition, technological developments, retention and recruitment of qualified personnel, and market acceptance of the Company’s pricing, products and services, and risks related to the economic environment in the market areas in which the Bank operates, particularly with respect to the real estate market in New Jersey. In addition, the COVID-19 pandemic has had and continues to have an adverse impact on the economy locally and nationally and may continue to adversely affect the Company’s business. The Company wishes to caution readers not to place undue reliance on any such forward-looking statements, which speak only as of the date made. The Company does not undertake and specifically declines any obligation to publicly release the result of any revisions that may be made to any forward-looking statements to reflect events or circumstances after the date of such statements or to reflect the occurrence of anticipated or unanticipated events. 2

Magyar Bancorp, Inc. Overview ▪ Magyar Bank, a New Jersey chartered savings bank originally founded in 1922, is the wholly owned subsidiary of Magyar Bancorp, Inc. ▪ Magyar Bancorp, Inc., trades on NASDAQ under the symbol MGYR. ▪ As of June 30, 2022 we had $791 million in total assets, $617 million in net loans, $660 million in deposits and $101million in stockholders’ equity. ▪ Magyar Bank conducts its business from its main office in New Brunswick and six additional branch offices located in North Brunswick, South Brunswick, Branchburg, Bridgewater, and two in Edison, New Jersey. ▪ Magyar Bank celebrates 100 years of service in 2022. Our website has an overview of our history and other information on special events taking place throughout the year, www.magbank.com. 3

Stock Offering/2 nd Step Transaction • Completed July 14, 2021 • Issued 3,910,000 new common shares at $10 price • Raised $37.4 million, net of offering expenses • 1.2213 exchange ratio 4

5 Magyar Bank Branch Locations

Deposits by Branch $246 $129 $116 $49 $31 $41 $41 0 50 100 150 200 250 300 New Brunswick - HQ South BrunswickNorth Brunswick Branchburg Bridgewater North Edison Edison - Tano Mall D o l l a r s i n M i l l i o n s Total Deposits - 6/30/22 6 Totals exclude brokered deposits.

2021/22 Review ▪FY21 -Net Income $6.1 million, 179% increase over FY20 ▪FY22 –Net income first 9 months $5.5 million, 22% increase over same period FY21 ▪Dividends ▪ Special Dividend $0.12/share paid in December 2021 ▪ Quarterly Dividend of $.03/share paid February/May/August 2022 ▪Share Repurchases ▪ Announced July 21, 2022 ▪ 5% of outstanding shares, up to 354,891 7

Financial Highlights 8

Asset Trend $300 $400 $500 $600 $700 $800 $900 D o l l a r s i n M i l l i o n s Loans Investments & Cash Other $630 $774 $791 $624 $603 $754 9

Loan Composition $- $100 $200 $300 $400 $500 $600 $700 9/30/17 9/30/18 9/30/19 9/30/20 9/30/21 6/30/22 D o l l a r s i n M i l l i o n s 1-4 Family Residential Commercial Real Estate Construction Commercial/Business HELOC Other 10 $523 $474 $512 $594 $611 $626

Non-Performing Assets/Assets 0.00% 0.20% 0.40% 0.60% 0.80% 1.00% 1.20% 9/30/21 6/30/22 Non-Performing Loans OREO 11 0.61% 1.14%

Deposit Composition $500 $530 $530 $618 $640 $660 $0 $100 $200 $300 $400 $500 $600 $700 $800 9/30/17 9/30/18 9/30/19 9/30/20 9/30/21 6/30/22 D o l l a r s i n M i l l i o n s CDs (inc. IRA) Savings Accounts Money Market Accounts Checking Totals 12

Checking Deposit Composition $142 $151 $154 $229 $253 $278 $0 $50 $100 $150 $200 $250 $300 $350 $400 9/30/17 9/30/18 9/30/19 9/30/20 9/30/21 6/30/22 D o l l a r s i n M i l l i o n s Non-Interest Checking Interest Checking Total 13

Quarterly Net Interest Margin 3.23% 3.38% 3.64% 3.54% 3.57% 3.72% 0.69% 0.93% 1.68% 1.48% 1.48% 3.01% 2.81% 2.87% 2.92% 2.99% 3.06% 3.07% 0.00% 0.50% 1.00% 1.50% 2.00% 2.50% 3.00% 3.50% 4.00% 9/30/20 12/31/20 3/31/21 6/30/21 9/30/21 6/30/22 MGYR Net Interest Margin 10-yr. Treasury Yield Average NIM - Peer Group 14 Peer Group –NJ Banks with Assets $400M -$1B Source: S&P Capital IQ

Net Income Up 22% in FY22 $2,996 $2,190 $6,120 $5,489 $- $1,000 $2,000 $3,000 $4,000 $5,000 $6,000 $7,000 FY19 FY20 FY21 FY22 - 9 months D o l l a r s i n T h o u s a n d s 15

Earnings Per Share $0.51 $0.38 $1.01 $0.81 $- $0.20 $0.40 $0.60 $0.80 $1.00 $1.20 FY19 FY20 FY21 FY22 - 9 months 16

Stockholders Equity 17 $9.78 $13.76 $14.23 $0.00 $2.00 $4.00 $6.00 $8.00 $10.00 $12.00 $14.00 $16.00 9/30/20 9/30/21 6/30/22 Book Value Per Share

Stock Price Performance 18

MGYR Stock Performance –1 Year 19 Data as of 9/7/2022 MGYR: 16.38% S&P U.S. Banks Index: 15.66% MGYR Price/Book as of 9/7/22 –91%

Fiscal Year 2022 Outlook 20

Strategy • Enhance shareholder value –Quarterly dividend • Continued emphasis on community banking strategy to grow the business –Identify quality residential and commercial lending opportunities 21

Strategy • Manage interest rate risk in a rising interest rate environment • IT Cybersecurity • Online deposit account opening product launch Q2 2022 • Continued focus on non-interest expenses 22

Questions? 23