Overview

* Magyar Bancorp ( MGYR ) fiscal Q4 net income stable at $2.5 mln, FY net income up 25%

* Company declares quarterly dividend of $0.08 per share

* Net interest margin increased by 39 basis points for fiscal Q4

Outlook

* Company did not provide specific guidance for future quarters or fiscal year

Result Drivers

* NET INTEREST MARGIN - FY NIM grew 20 bps, driven by higher interest income on loan originations and adjustable-rate commercial term loans repricing higher

* LOAN PORTFOLIO GROWTH - 10% growth in loan portfolio contributed to annual net income increase

* CREDIT LOSS PROVISIONS - Increased provisions for credit loss due to growth in commercial real estate loans and construction loan commitments

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q4 $0.08

Dividend

Press Release:

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)