Magyar Bancorp reported higher earnings for the fourth quarter and full fiscal 2026, with net income rising 31% for the quarter and 29% for the year. The New Jersey-based bank also raised its quarterly dividend to 12 cents per share, its second dividend increase this fiscal year.
The company attributed the earnings improvement mainly to stronger net interest income. Its chief executive said loan and deposit growth, along with balance-sheet management, helped lift the bank’s net interest margin despite a volatile interest-rate environment.
Key details
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Fourth-quarter earnings: Net income for the three months ended Sept. 30, 2026, was $3.3 million, up from $2.5 million a year earlier. Basic earnings per share were 53 cents, compared with 41 cents; diluted earnings per share were 52 cents, compared with 40 cents.
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Full-year earnings: Fiscal 2026 net income was $12.6 million, up from $9.8 million in fiscal 2025. Basic earnings per share increased to $2.02 from $1.57, while diluted earnings per share rose to $1.99 from $1.56.
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Net interest income and margin: Quarterly net interest and dividend income rose 18.5% to $10.0 million from $8.4 million. The quarterly net interest margin increased to 3.84% from 3.47% a year earlier. Management said the margin was up 35 basis points from the prior fiscal year, citing loan and deposit growth and balance-sheet management.
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Full-year factors: Higher net interest income supported the annual earnings increase. The company said that benefit was partly offset by higher credit-loss provisions, lower other income, higher expenses and higher income-tax expense.
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Dividend: The board declared a quarterly cash dividend of 12 cents per share, payable Nov. 24 to shareholders of record on Nov. 10. The company described it as its second dividend increase in fiscal 2026; it did not state the prior quarterly rate in the announcement.
What changes
The dividend increase raises the cash payment to shareholders, while the earnings figures show improvement over both the prior-year quarter and full year. The company’s reported margin expansion and higher net interest income were central to that earnings growth; the annual results also reflect increased credit provisions and expenses.