MAGYAR BANCORP, INC. ANNOUNCES FISCAL FOURTH QUARTER AND FISCAL YEAR END FINANCIAL RESULTS, DECLARES QUARTERLY DIVIDEND
1. MGYR reported $2.5M net income for Q3 2024, up from $2.2M in 2023. 2. Annual net income rose to $7.8M in 2024 compared to $7.7M in 2023. 3. Dividend of $0.05 per share declared for November 2024 payment. 4. Loan portfolio increased by 12% amid challenging yield curve conditions. 5. New branch office opening in Martinsville aims to enhance loan generation.