Magyar Bancorp Q4 net income rises on higher net interest income
MGYR•Magyar Bancorp’s fiscal fourth-quarter net income rose 31% year over year, driven by higher net interest income. The company raised its quarterly dividend to $0.12 per share.
1. Earnings and dividend
Fiscal fourth-quarter net income rose 31% year over year, and earnings per share increased from the prior-year period. Magyar Bancorp raised its quarterly dividend to $0.12 per share.
2. Interest income drivers
CEO John Fitzgerald said higher net interest margin reflected loan and deposit growth and balance sheet management. Higher interest income on new loans and repricing of adjustable-rate commercial loans, along with lower interest expense as short-term market rates fell, also contributed.
3. Company outlook
Magyar Bancorp said it is well positioned for continued strong performance in 2027.
