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Magyar Bancorp Inc MGYR

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Morningstar’s Analysis

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1-Star Price

PREMIUM

5-Star Price

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Economic Moat

PREMIUM

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Company Profile

Business Description

Magyar Bancorp Inc is the mid-tier stock holding company of Magyar Bank. The business consists of attracting retail deposits from the general public in the areas surrounding the main office in New Brunswick, New Jersey and branch offices located in Middlesex and Somerset Counties, New Jersey, and investing those deposits, together with funds generated from operations and wholesale funding, in residential mortgage loans, home equity loans, home equity lines of credit, commercial real estate loans, commercial business loans, Small Business Administration loans, construction loans and investment securities. The company also originates consumer loans, which consist primarily of secured demand loans.

Contact
400 Somerset Street
New Brunswick, NJ, 08901
T +1 732 342-7600
Sector Financial Services
Industry Banks - Regional
Most Recent Earnings Jun 30, 2020
Fiscal Year End Sep 30, 2020
Stock Type Cyclical
Employees 110