Magyar Bancorp Inc. (MGYR) Financial Statements (2024 and earlier)

Company Profile

Business Address 400 SOMERSET STREET
NEW BRUNSWICK, NJ 08901
State of Incorp.
Fiscal Year End September 30
Industry (SIC) 6035 - Savings Institutions, Federally Chartered (benchmarking)
More info Complete Financial Analysis Financial Benchmarking

Balance Sheet (Statement of Financial Position) ($ in thousands)

3/31/2024
MRQ
12/31/2023
MRQ
9/30/2023
9/30/2022
9/30/2021
9/30/2020
9/30/2019
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments43,43472,53230,93675,20161,72621,469
Cash and cash equivalents51,11772,53230,93675,20161,72621,469
Short-term investments(7,683)     
Deferred costs      104
Total current assets:43,43472,53230,93675,20161,72621,573
Noncurrent Assets
Operating lease, right-of-use asset     3,2403,800
Property, plant and equipment12,53413,33913,88014,33114,74616,172
Long-term investments and receivables728,560689,0702,3002,3002,5002,900
Due from related parties2,3002,3002,5002,900
Accounts and financing receivable, after allowance for credit loss728,560689,070    
Other receivable, after allowance for credit loss  5,100
Total noncurrent assets:741,094707,50916,18016,63120,48622,872
Other undisclosed assets132,211127,251751,427682,158671,785585,883
TOTAL ASSETS:916,739907,292798,543773,990753,997630,328
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities  265    
Accrued liabilities  265    
Debt28,79629,51515,625  10,294
Other liabilities  828    
Total current liabilities:28,79630,60815,625  10,294
Noncurrent Liabilities
Other undisclosed liabilities781,404771,894684,416676,349697,147565,383
Total liabilities:810,200802,502700,041676,349697,147575,677
Equity
Equity, attributable to parent, including:106,539104,790101,671100,87656,91554,865
Common stock717171715959
Treasury stock, value(5,554)(5,362)(5,793)(1,242)(1,242)(1,152)
Additional paid in capital62,96262,80163,73463,71326,29426,317
Accumulated other comprehensive loss(1,349)(1,789)(2,114)(947)(1,357)(1,330)
Retained earnings53,45652,16645,77339,28133,16130,971
Other undisclosed equity, attributable to parent(3,047)(3,097)    
Other undisclosed equity   (3,169)(3,235)(65)(214)
Total equity:106,539104,79098,50297,64156,85054,651
TOTAL LIABILITIES AND EQUITY:916,739907,292798,543773,990753,997630,328

Income Statement (P&L) ($ in thousands)

3/31/2024
TTM
12/31/2023
TTM
9/30/2023
9/30/2022
9/30/2021
9/30/2020
9/30/2019
Revenues41,26238,59229,51228,54326,90526,954
Net investment income40,95437,92929,42528,43326,79926,954
Cost of revenue
(Provision for Loan, Lease, and Other Losses)
(625)(381)(304)(1,629)(1,666)(668)
Gross profit:40,63738,21129,20826,91425,23926,286
Operating expenses(5,692)(5,718)(5,140)(5,673)(5,838)(5,271)
Other operating income, net
(Noninterest Income, Other Operating Income)
  98    
Other undisclosed operating income98     
Operating income:35,04332,59124,06821,24119,40121,015
Nonoperating income
(Bank Owned Life Insurance Income)
369370372317324 
Interest and debt expense(13,036)(10,334)(2,484)(2,941)(5,513)(6,710)
Other undisclosed loss from continuing operations before equity method investments, income taxes     (11,101)(10,044)
Income from continuing operations before equity method investments, income taxes:22,37622,62721,95618,6173,1114,261
Other undisclosed loss from continuing operations before income taxes(11,873)(11,886)(10,787)(9,892)  
Income from continuing operations before income taxes:10,50310,74111,1698,7253,1114,261
Income tax expense(2,952)(3,032)(3,250)(2,605)(921)(1,265)
Income from continuing operations:7,5517,7097,9196,1202,1902,996
Income before gain (loss) on sale of properties:7,9196,1202,1902,996
Net income available to common stockholders, diluted:7,5517,7097,9196,1202,1902,996

Comprehensive Income ($ in thousands)

3/31/2024
TTM
12/31/2023
TTM
9/30/2023
9/30/2022
9/30/2021
9/30/2020
9/30/2019
Net income:7,5517,7097,9196,1202,1902,996
Other comprehensive income (loss)609325(1,167)410(27)144
Comprehensive income, net of tax, attributable to parent:8,1608,0346,7526,5302,1633,140

Statements Sources

The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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