Magyar Bancorp, Inc. (MGYR): Business Model Canvas [Jan-2025 Mis à jour]

Plongez dans le plan stratégique de Magyar Bancorp, Inc. (MGYR), une puissance bancaire régionale qui transforme les services financiers traditionnels grâce à un modèle commercial méticuleusement conçu. Cette approche innovante tisse ensemble les connexions communautaires locales, les solutions numériques de pointe et les expériences bancaires personnalisées pour créer une proposition de valeur unique qui distingue Magyar Bancorp dans le paysage financier compétitif du New Jersey. Découvrez les couches complexes de leur stratégie commerciale qui stimulent la croissance, la fidélité des clients et les performances durables dans le monde dynamique des banques communautaires.

Magyar Bancorp, Inc. (MGYR) - Modèle commercial: partenariats clés

Associations d'entreprises locales dans le New Jersey

Magyar Bancorp maintient des partenariats stratégiques avec les associations commerciales du New Jersey suivantes:

Nom d'association	Détails du partenariat	Année établie
Association des banquiers du New Jersey	Membre actif depuis 2010	2010
Chambre de commerce du New Jersey	Partenaire de réseautage collaboratif	2005

Banques communautaires et fournisseurs de services financiers

Les principaux partenariats de services financiers de Magyar Bancorp comprennent:

• Lakeland Bank
• Banque nationale de la vallée
• OceanFirst Bank

Promoteurs immobiliers et courtiers hypothécaires

Partenaire	Portée du partenariat	Originations hypothécaires totales
Garden State Realty Partners	Collaboration des prêts hypothécaires	42,3 millions de dollars (2023)
Groupe hypothécaire du New Jersey	Financement immobilier commercial	35,7 millions de dollars (2023)

Compagnies d'assurance

Magyar Bancorp collabore avec les assureurs suivants:

• Groupe d'assurance sélective
• Assurance voyageurs
• Liberty Mutual

Vendeurs technologiques

Partenaire technologique	Solution fournie	Investissement annuel
Fiserv, Inc.	Plateforme bancaire de base	2,1 millions de dollars (2023)
Jack Henry & Associés	Solutions bancaires numériques	1,8 million de dollars (2023)

Magyar Bancorp, Inc. (MGYR) - Modèle d'entreprise: Activités clés

Prêts commerciaux et résidentiels

Portfolio total des prêts au quatrième trimestre 2023: 534,2 millions de dollars

Catégorie de prêt	Montant total	Pourcentage de portefeuille
Prêts immobiliers commerciaux	287,6 millions de dollars	53.8%
Prêts hypothécaires résidentiels	182,4 millions de dollars	34.1%
Prêts à la consommation	64,2 millions de dollars	12.1%

Gestion des comptes de dépôt et d'épargne

Dépôts totaux au T2 2023: 628,5 millions de dollars

• Dépôts sans intérêt: 87,3 millions de dollars
• Comptes chèques portant des intérêts: 215,6 millions de dollars
• Comptes d'épargne: 189,4 millions de dollars
• Dépôts de temps: 136,2 millions de dollars

Services bancaires en ligne et mobiles

Métriques de la plate-forme bancaire numérique:

• Utilisateurs bancaires en ligne actifs: 42 500
• Téléchargements d'applications bancaires mobiles: 28 700
• Volume de transactions numériques: 1,2 million de transactions mensuelles

Gestion des risques et avis financier

Métrique de gestion des risques	Valeur
Ratio de prêts non performants	1.42%
Réserve de perte de prêt	7,8 millions de dollars
Ratio d'adéquation des capitaux	12.6%

Banque communautaire et création de relations

Réseau de succursale: 12 emplacements physiques dans le New Jersey

• Investissement total communautaire en 2023: 1,2 million de dollars
• Nombre de partenariats commerciaux locaux: 87
• Communissures de l'événement communautaire: 42

Magyar Bancorp, Inc. (MGYR) - Modèle d'entreprise: Ressources clés

Réseau de succursale physique dans le New Jersey

Magyar Bancorp exploite 9 sites bancaires à service complet dans le New Jersey à partir de 2023.

Succursales	Nombre total	Couverture géographique
Branches du New Jersey	9	Comtés de Middlesex et Somerset

Professionnels bancaires expérimentés

Magyar Bancorp emploie environ 127 membres du personnel équivalent à temps plein.

• Tenure moyenne des employés: 8,5 ans
• Équipe de direction avec plus de 150 ans et plus d'expérience bancaire

Infrastructure de technologie bancaire numérique

Investissement technologique: 1,2 million de dollars dans les plateformes bancaires numériques en 2022.

Service numérique	Capacité
Banque en ligne	Capacités transactionnelles complètes
Application bancaire mobile	Disponible sur les plateformes iOS et Android

Solide réputation du marché local

Banque communautaire avec une présence historique de 100 ans sur le marché du New Jersey.

Capital financier robuste et réserves

Mesures financières au cours du troisième trimestre 2023:

Métrique financière	Montant
Actif total	1,04 milliard de dollars
Ratio de capital de niveau 1	14.2%
Total des capitaux propres	94,3 millions de dollars

Magyar Bancorp, Inc. (MGYR) - Modèle d'entreprise: propositions de valeur

Services bancaires personnalisés pour les communautés locales

Au quatrième trimestre 2023, Magyar Bancorp dessert 22 succursales principalement dans le New Jersey, avec un actif total de 2,34 milliards de dollars. La banque maintient l'accent sur les banques centrées sur la communauté avec une pénétration locale du marché de 67% dans ses zones de service de base.

Catégorie de service	Client portée	Pénétration du marché
Banque personnelle	38 742 clients actifs	67%
Banque d'affaires	2 345 comptes de petites entreprises	54%

Taux d'intérêt concurrentiels sur les prêts et les dépôts

Magyar Bancorp propose des tarifs compétitifs sur plusieurs gammes de produits:

• Taux d'épargne personnels: 3,25% apy
• Taux hypothécaires: à partir de 6,75%
• Taux de prêt d'entreprise: 7,25% - 9,50%

Solutions de prêt flexibles pour les petites entreprises

En 2023, Magyar Bancorp a traité 156 millions de dollars de prêts aux petites entreprises, avec une taille de prêt moyenne de 247 000 $. Le taux d'approbation des prêts s'élève à 72% pour les petites entreprises admissibles.

Type de prêt	Volume total	Taille moyenne du prêt
Immobilier commercial	89 millions de dollars	$425,000
Prêts de fonds de roulement	67 millions de dollars	$156,000

Plateformes de banque numérique pratique

Plateforme bancaire numérique de Magyar Bancorp supporte:

• Banque mobile: 28 500 utilisateurs actifs
• Volume de transactions en ligne: 1,2 million de transactions mensuelles
• Ouverture du compte numérique: 65% des nouveaux comptes

Service client axé sur les relations

Taux de rétention de la clientèle: 87,4%, avec une durée moyenne de la relation client de 7,2 ans. Score de promoteur net (NPS) de 68, nettement au-dessus de la moyenne du secteur bancaire.

Métrique de service	Performance
Taux de rétention de la clientèle	87.4%
Relation client moyenne	7,2 ans
Score de promoteur net	68

Magyar Bancorp, Inc. (MGYR) - Modèle d'entreprise: relations avec les clients

Gestion des relations bancaires personnelles

Magyar Bancorp a déclaré 45 321 clients bancaires personnels actifs au T2 2023, avec un solde de compte moyen de 87 654 $. La banque maintient 12 succursales physiques dans le New Jersey.

Segment de clientèle	Nombre de clients	Valeur moyenne du compte
Banque personnelle	45,321	$87,654
Banque d'affaires	3,215	$342,987

Engagement client axé sur la communauté

Magyar Bancorp a investi 276 500 $ dans des programmes de sensibilisation communautaire en 2023, soutenant 37 événements et initiatives communautaires locaux.

• Événements de parrainage local: 22
• Ateliers de littératie financière: 15
• Total d'investissement communautaire: 276 500 $

Support numérique via les chaînes en ligne et mobiles

En 2024, Magyar Bancorp offre des services bancaires numériques avec 98,2% de la disponibilité de l'application mobile. Les utilisateurs des banques en ligne ont totalisé 28 764 au quatrième trimestre 2023.

Canal numérique	Nombre d'utilisateurs	Volume de transaction
Application bancaire mobile	28,764	1 245 678 transactions mensuelles
Banque Web en ligne	25,432	987 654 transactions mensuelles

Banque de relations avec des conseils financiers personnalisés

Magyar Bancorp emploie 42 gestionnaires de relations dédiés fournissant des consultations financières personnalisées. Le temps de consultation moyen est de 1,2 heures par client.

Mécanismes de communication régulière et de rétroaction des clients

La cote de satisfaction du client pour 2023 était de 4,3 / 5, sur la base de 5 678 réponses au sondage. La banque maintient un Garantie de réponse de 72 heures pour les demandes des clients.

• Réponses totales de l'enquête: 5 678
• Score de satisfaction du client: 4.3 / 5
• Temps de réponse moyen: 48 heures

Magyar Bancorp, Inc. (MGYR) - Modèle d'entreprise: canaux

Emplacements de branche physiques

En 2024, Magyar Bancorp, Inc. fonctionne 12 Emplacements de succursales physiques principalement concentré dans le New Jersey.

Type de succursale	Nombre d'emplacements	Concentration géographique
Branches à service complet	9	Région métropolitaine du Nouveau-Brunswick
Succursales de service limitées	3	Comté de Middlesex, NJ

Site Web de banque en ligne

Magyar Bancorp fournit des services bancaires numériques via www.magyarbank.com.

• Site Web lancé en 2018
• Offres Accès du compte 24/7
• Soutien de la rémunération en ligne
• Fournit des services de déclaration électronique

Application bancaire mobile

Application mobile Magyar Bank disponible sur les plates-formes iOS et Android.

Fonctionnalité d'application mobile	Disponibilité
Dépôt de chèques mobiles	Oui
Alertes de compte en temps réel	Oui
Commandes de cartes mobiles	Oui

Services bancaires téléphoniques

Service client Heures du lundi au vendredi au vendredi, de 8h00 à 18h00 HNE.

• Ligne de support client dédié: (732) 638-0026
• Banque de téléphone automatisé disponible 24/7
• Solde de compte Renseignements
• Accès à l'historique des transactions

Réseau ATM

Magyar Bancorp maintient un réseau de distributeurs automatiques de billets dans le New Jersey.

Type de guichet automatique	Nombre total	Lieux
ATM appartenant à des banques	15	Succursales
ATM du réseau partenaire	50+	Réseaux bancaires partagés

Magyar Bancorp, Inc. (MGYR) - Modèle d'entreprise: segments de clientèle

Petites et moyennes entreprises du New Jersey

Magyar Bancorp dessert environ 3 500 petites et moyennes entreprises du New Jersey en 2023. Portefeuille total de prêts commerciaux: 287,4 millions de dollars.

Segment d'entreprise	Nombre de clients	Taille moyenne du prêt
Commerces de détail	1,250	$215,000
Services professionnels	850	$312,000
Fabrication	620	$425,000
Soins de santé	450	$275,000

Clients hypothécaires résidentiels locaux

Magyar Bancorp a créé 124,6 millions de dollars en hypothèques résidentielles en 2023. La clientèle comprend:

• Acheurs de maison pour la première fois: 35% du portefeuille hypothécaire
• Recinancement des clients: 22% du portefeuille hypothécaire
• Propriétaires de biens de placement: 15% du portefeuille hypothécaire

Clients bancaires de détail individuels

Total des clients bancaires au détail: 42 500. Base de dépôt: 612,3 millions de dollars.

Type de compte	Nombre de clients	Équilibre moyen
Comptes chèques	28,000	$7,500
Comptes d'épargne	12,500	$15,200
Comptes de marché monétaire	2,000	$42,000

Fournisseurs de services professionnels

Magyar Bancorp dessert 1 200 fournisseurs de services professionnels avec des solutions bancaires spécialisées. Prêt total de services professionnels: 98,7 millions de dollars.

• Avocats: 35% du segment des services professionnels
• Comptables: 25% du segment des services professionnels
• Consultants: 20% du segment des services professionnels
• Autres professionnels: 20% du segment des services professionnels

Organisations communautaires locales

Organisation communautaire Relations bancaires: 175. Dépôts totaux de l'organisation communautaire: 24,6 millions de dollars.

Type d'organisation	Nombre d'organisations	Taille moyenne des dépôts
À but non lucratif	85	$112,000
Institutions religieuses	45	$87,500
Fondations éducatives	35	$156,000
Associations communautaires	10	$62,000

Magyar Bancorp, Inc. (MGYR) - Modèle d'entreprise: Structure des coûts

Dépenses de fonctionnement de la succursale

Au quatrième trimestre 2023, Magyar Bancorp a exploité 7 succursales avec des frais d'exploitation de succursales totales de 2,14 millions de dollars par an.

Catégorie de dépenses	Coût annuel
Loyer et services publics	$687,000
Maintenance des succursales	$453,000
Sécurité des succursales	$312,000
Fournitures de bureau	$188,000

Salaires et avantages sociaux des employés

Les dépenses totales de personnel de Magyar Bancorp en 2023 étaient de 8,76 millions de dollars.

• Salaire moyen des employés: 62 400 $
• Total des employés: 110
• Attribution des avantages sociaux: 22% du total des dépenses de personnel

Maintenance de technologie et d'infrastructure

Les coûts d'infrastructure technologique pour 2023 ont totalisé 1,93 million de dollars.

Dépenses technologiques	Coût annuel
Maintenance des systèmes informatiques	$876,000
Cybersécurité	$542,000
Licence de logiciel	$412,000

Coûts de conformité réglementaire

Les dépenses de conformité pour 2023 étaient de 1,24 million de dollars.

• Frais juridiques et de conseil: 687 000 $
• Logiciel et outils de conformité: 312 000 $
• Formation et certification: 241 000 $

Frais de marketing et d'acquisition des clients

Le budget marketing de 2023 était de 742 000 $.

Canal de marketing	Dépense
Marketing numérique	$312,000
Print et publicité locale	$218,000
Commanditaires des événements communautaires	$142,000
Programmes de référence client	$70,000

Magyar Bancorp, Inc. (MGYR) - Modèle d'entreprise: Strots de revenus

Intérêt des prêts

Au quatrième trimestre 2023, Magyar Bancorp a déclaré un revenu total d'intérêts de 23,4 millions de dollars. Répartition des intérêts du prêt:

Catégorie de prêt	Revenu des intérêts ($)
Prêts commerciaux	12,600,000
Prêts hypothécaires résidentiels	8,200,000
Prêts à la consommation	2,600,000

Frais de prêt hypothécaire

Les revenus des frais de prêt hypothécaire pour 2023 ont totalisé 1,75 million de dollars, avec la structure des frais suivante:

• Frais d'origine: 1 250 000 $
• Frais de souscription: 350 000 $
• Frais de clôture: 150 000 $

Frais de service sur les comptes de dépôt

Les revenus des frais de service pour 2023 étaient de 3,2 millions de dollars, composés de:

Type de compte	Frais de service ($)
Frais de compte	1,800,000
Frais de découvert	900,000
Autres services de compte	500,000

Services d'investissement et de gestion de la patrimoine

Les revenus des services d'investissement pour 2023 ont atteint 2,5 millions de dollars:

• Frais de gestion des actifs: 1 500 000 $
• Services de conseil financier: 650 000 $
• Services de planification de la retraite: 350 000 $

Frais de transaction bancaire numérique

Les frais de transaction bancaire numérique pour 2023 ont totalisé 1,1 million de dollars:

Service numérique	Frais de transaction ($)
Frais de transfert en ligne	450,000
Frais de banque mobile	350,000
Traitement des paiements électroniques	300,000

Magyar Bancorp, Inc. (MGYR) - Canvas Business Model: Value Propositions

You're looking at what Magyar Bancorp, Inc. (MGYR) offers its customers and the market, which is fundamentally rooted in its community bank identity. This isn't about abstract promises; it's about concrete performance and focus areas that define their value.

Personalized, relationship-focused community banking service is central to Magyar Bancorp, Inc.'s model. This focus is validated by external recognition; the company was named to the 2025 KBW Bank Honor Roll, an acknowledgment of strong and consistent earnings growth, which reflects successful execution of their community banking strategy. That strategy aims to serve families and businesses in Central New Jersey, where Magyar Bank has operated since 1922. This commitment to local relationships is a core differentiator against larger, less localized institutions.

The expertise in Specialized Commercial Real Estate (CRE) financing is a significant part of their loan book. As of the third quarter of 2025, a substantial portion of their lending focus was evident, with 60% of its loans classified as CRE as of June 2025. This concentration shows a deep commitment and specialized knowledge in that sector. The bank is actively funding growth, as total loans receivable increased to $845.4 million at the end of Q3 2025.

While specific rate comparisons against every competitor aren't public, the results of their pricing strategy are clear in the financial performance. Magyar Bancorp, Inc. demonstrated effective balance sheet management, resulting in a Net Interest Margin (NIM) that expanded to 3.35% in Q3 2025. This expansion, year-over-year, suggests they are managing the cost of deposits while achieving favorable yields on assets, which translates into competitive positioning for local customers. The confidence in this strategy led the Board to raise the quarterly dividend to $0.08 per share in Q3 2025.

The bedrock of their value proposition is Financial stability, which directly impacts customer trust. As of Q3 2025, the bank maintained strong asset quality, with non-performing loans at just 0.11% of total loans. This is a very low absolute level, even though the dollar amount of non-performing loans increased to $0.92 million at June 30, 2025, from $0.232 million at the end of FY24. The overall financial health is reflected in the book value per share, which rose to $18.03 at the quarter's end.

Here's a quick look at the key metrics supporting these value points from the Q3 2025 results:

Metric	Value (Q3 2025 or latest available)	Context
Non-Performing Loans to Total Loans Ratio	0.11%	Financial Stability / Asset Quality
Total Loans Receivable	$845.4 million	CRE Expertise / Loan Growth
Net Interest Margin (NIM)	3.35%	Competitive Rates / Pricing Management
Commercial Real Estate (CRE) Loan Concentration	60% of total loans	Specialized CRE Financing Expertise
Quarterly Net Income (YoY Growth)	$2.47 million (46% increase)	Earnings Strength supporting stability
Book Value Per Share	$18.03	Shareholder Value / Stability

The dedication of the team is also a value driver, as evidenced by the 55.5% year-over-year increase in non-interest income to $0.64 million, aided by higher bank-owned life insurance income and loan-related fees. You see the results of their relationship focus in the 46% rise in net income to $2.47 million for the quarter. That's real value creation.

Magyar Bancorp, Inc. (MGYR) - Canvas Business Model: Customer Relationships

Magyar Bancorp, Inc. supports its customer relationships through a mix of physical presence and direct access to decision-makers, which is key for a community bank serving Central New Jersey.

Dedicated, in-person service at local branch locations

The foundation of the relationship model is the physical footprint. Magyar Bank operates seven branch locations across Middlesex and Somerset Counties, New Jersey, including sites in New Brunswick, North Brunswick, South Brunswick, Branchburg, Bridgewater, and Edison (two locations). This physical network is supported by a total employee count of 111 as of September 30, 2025. The bank's total assets stood at $1.0 billion as of March 31, 2025, indicating the scale of the client base being served through these local touchpoints.

Direct access to commercial lending officers

For business clients, direct access to lending expertise is a stated priority. The organizational structure reflects this commitment, featuring named roles such as the Senior Vice President and Chief Lending Officer, Peter Brown. Furthermore, the team includes multiple dedicated Vice President and Commercial Lender positions, such as Jean McDonnell, Dan Badea, Lillian Lund, and Cuthbert Hamilton, ensuring that commercial clients can connect directly with loan decision-makers. This structure helps facilitate the building of the long-term, trust-based relationships mentioned in the strategy.

Automated self-service via online and mobile platforms

While the emphasis is local, Magyar Bancorp, Inc. supports customer needs through digital channels. The bank provides online banking access, requiring a username and password for entry. Although specific 2025 usage statistics for Magyar Bank's digital platforms are not public, the broader US market context shows that 72% of US adults used mobile banking apps in 2025. Digital platforms are used for functions like check deposits and investment tracking, turning smartphones into personal finance hubs.

Long-term, trust-based relationships with business clients

The success of the relationship focus is reflected in the financial performance. For the fiscal year ended September 30, 2025, Magyar Bancorp reported a net income of $9.8 million. The net interest margin, a key indicator of lending profitability, increased to 3.34% for the year ended September 30, 2025, up from 3.14% the prior year. The President and CEO noted that strong outcomes are a direct result of Magyar's focus on building lasting relationships within the community.

Key Financial and Operational Metrics for Customer Relationship Support (As of Late 2025 Data Points):

Metric	Value	Date/Period Reference
Total Employees	111	September 30, 2025
Total Branch Locations	7	As of April 2025
Total Assets	$1.0 billion	March 31, 2025
Net Interest Margin (NIM)	3.34%	Year ended September 30, 2025
Fiscal Year Net Income	$9.8 million	Year ended September 30, 2025

The relationship model is supported by the personnel dedicated to client interaction:

• Executive Management includes a President & CEO and a Chief Lending Officer.
• Commercial Lenders hold Vice President titles.
• Branch Managers oversee the seven physical locations.
• Relationship managers go out of their way to help meet banking needs.

Magyar Bancorp, Inc. (MGYR) - Canvas Business Model: Channels

You're looking at how Magyar Bancorp, Inc. gets its products and services to its New Jersey customer base. The physical footprint remains a core component, especially for initial deposit gathering and relationship building.

Magyar Bancorp, Inc., through its subsidiary Magyar Bank, maintains a physical presence concentrated in Central New Jersey. As of late 2025, this network consists of exactly seven retail branch locations. These offices are strategically placed across key towns to serve the local community.

Channel Component	Type	Count/Metric (As of FYE 2025)	Primary Function
Retail Branch Offices	Physical	7 Locations	Deposit Gathering, Loan Origination Support
Online Banking	Digital	Active Platform	Account Servicing, Transaction Processing
Mobile Banking Applications	Digital	Active Applications	Convenience Banking, Remote Deposits
Direct Sales Force	Human/Direct	Undisclosed Headcount	Commercial and Residential Lending Origination

The bank relies on its digital channels to complement the physical locations. You can assume they offer both online and mobile banking applications for routine customer interactions. For instance, the average balance of interest-earning assets, which these channels help fund and deploy, reached $954.6 million for the year ended September 30, 2025. The bank reported a net income of $9.8 million for that same fiscal year.

For more complex financial products, Magyar Bancorp, Inc. uses a direct sales approach. This involves a dedicated internal team focused on originating both commercial and residential lending business. This direct contact is key for securing higher-value, relationship-based assets.

Access to cash and transactional convenience is supported through an ATM network. While the exact number of proprietary or partner ATMs isn't publicly detailed in the latest reports, this access point supports the day-to-day needs of the customer base alongside the seven physical branches. The bank obtains certificates of deposit primarily through its branch network and, to a lesser extent, via the brokered CD market.

Here's a quick look at the branch distribution based on available location data:

• New Brunswick (Headquarters)
• North Brunswick
• South Brunswick
• Branchburg
• Bridgewater
• Edison (2 locations)

Finance: draft 13-week cash view by Friday.

Magyar Bancorp, Inc. (MGYR) - Canvas Business Model: Customer Segments

Magyar Bancorp, Inc., through Magyar Bank, focuses its business on serving the local community in Central New Jersey, which dictates its primary customer segments. You see this focus clearly in their deposit gathering and lending strategies.

The core of the lending activity, which defines the key customer segments, is heavily weighted toward commercial real estate and residential mortgages, consistent with a community bank model in the Northeast.

Here is a look at the composition of the loan portfolio, using the most recent detailed figures available, supplemented by year-over-year growth data from late 2025:

Customer Segment Focus (Loan Type)	Portfolio Percentage (As of September 30, 2022)	Portfolio Amount (As of September 30, 2022)	Recent Growth Metric
Commercial Real Estate (CRE) Investors and Developers	54.5%	$342.8 million	Increased $33.9 million in the six months ended March 31, 2025
Residential Mortgage Borrowers (One-to-Four Family)	34.1%	$214.4 million	Increased $3.8 million in the six months ended March 31, 2025
Small to Medium-sized Businesses (SMEs)	5.5%	$34.7 million	Loan portfolio grew 10% for the year ended September 30, 2025
Construction Loans	2.4%	$15.2 million	Lower balances led to lower provision for credit losses in H1 2025

The Commercial Real Estate (CRE) investors and developers segment is clearly the primary lending focus, representing over half of the loan portfolio based on 2022 figures, and it showed significant growth, adding $33.9 million in the first half of fiscal 2025. This segment is vital for Magyar Bancorp, Inc. as it aligns with the bank's role in regional development.

For Small to medium-sized businesses (SMEs), while their loan percentage was smaller in 2022, the segment is a key area of community banking focus. You can see specific historical metrics for this group:

• Total small business loans historically stood at $156.7 million.
• The number of active small business loans was 1,247.
• The average loan size for SMEs was approximately $125,664.
• New Jersey local government policies mandate a small business loan allocation of 22% of the total lending portfolio.

The Local retail customers and families are the source of the bank's funding base, which is critical for its operations. As of June 30, 2025, total deposits were $820.0 million. The bank's geographic footprint is strictly Central New Jersey, with offices in:

• New Brunswick (main office)
• North Brunswick
• South Brunswick
• Branchburg
• Bridgewater
• Edison (2 locations)

Finally, Residential mortgage borrowers represent the second-largest loan category. The bank originates these loans primarily for its portfolio, not for secondary market sale, which speaks to a long-term relationship focus. The total assets of Magyar Bancorp, Inc. reached $997.7 million as of September 30, 2025. The loan portfolio itself grew by 10% during the year ended September 30, 2025.

Magyar Bancorp, Inc. (MGYR) - Canvas Business Model: Cost Structure

The cost structure for Magyar Bancorp, Inc. (MGYR) as of the fiscal year ended September 30, 2025, is heavily weighted toward funding costs and personnel, typical for a community bank focused on loan growth. Total non-interest expenses for the full fiscal year 2025 reached $21.4 million, up 4.9% from the prior year's $20.4 million.

Interest expense on deposits and borrowed funds represents a significant portion of the overall cost base. For the fiscal year ended September 30, 2025, total interest expense was $22.8 million, an increase of $2.2 million, or 10.7%, compared to the $20.6 million reported in fiscal year 2024.

Employee compensation and benefits is the primary driver within non-interest expenses. The increase in compensation and benefits expense for FY 2025 was $893 thousand, representing a 7.6% rise over the previous year. This increase was attributed to annual merit increases, higher medical insurance costs, and elevated incentive plan accruals.

The costs associated with the physical footprint and operational support are detailed below. You'll note that occupancy expenses included specific, non-recurring costs related to office consolidation during the year.

Cost Component	FY 2025 Amount (Millions USD)	Year-over-Year Change
Total Non-Interest Expense	$21.4 million	Up 4.9%
Occupancy Expenses (Total)	$3.5 million	Up $0.188 million (5.7%)
Compensation & Benefits (Increase Only)	N/A (Increase of $0.893M)	Up 7.6%

The Provision for credit losses is a critical, though variable, cost component reflecting the bank's risk management posture against its growing loan portfolio. For the full year ended September 30, 2025, Magyar Bancorp recorded provisions for credit loss totaling $653 thousand. This compares to provisions of $182 thousand for the year ended September 30, 2024.

The specific elements driving the occupancy cost increase are clear when you look at the quarterly trends, which often include seasonal or one-time charges. The cost structure includes:

• Provision for credit losses for FY 2025: $653 thousand.
• Occupancy expenses for FY 2025: $3.5 million.
• Increase in compensation and benefits for FY 2025: $893 thousand.
• Interest expense on deposits and borrowed funds for FY 2025: $22.8 million.

The occupancy expense increase of $188 thousand, or 5.7%, to reach $3.5 million for the year included lease termination expenses related to closing the Bridgewater office. That's a defintely one-time hit to the quarterly run rate, so you'll see that normalize next year.

Magyar Bancorp, Inc. (MGYR) - Canvas Business Model: Revenue Streams

You're looking at how Magyar Bancorp, Inc. (MGYR) actually brings in the money, which for a bank like this, boils down to the spread between what it earns on its assets and what it pays out on its liabilities, plus a few other important fees and gains. It's all about managing that interest-earning portfolio effectively.

The core of the revenue generation comes from Net Interest Income (NII) derived from the loan and investment portfolios. For the full Fiscal Year 2025, which ended September 30, 2025, Magyar Bancorp, Inc. reported Net Interest and Dividend Income of \$31.9 million. This represents a solid increase of 14.0% compared to the prior fiscal year. The net interest margin (NIM) also improved, reaching 3.34% for FY 2025. To give you a more recent snapshot, for the quarter ended September 30, 2025 (Q3 2025), the Net Interest and Dividend Income was \$8.4 million.

Beyond the core interest spread, Magyar Bancorp, Inc. generates revenue from non-interest sources, which are crucial for diversification. These streams include various fees, service charges, and realized gains on asset sales. Honestly, these non-interest items can really move the needle when interest rate environments shift.

We see clear evidence of this in the gains from selling loans. Specifically, gains on the sale of Small Business Administration 7(a) loans were a notable contributor. For the three months ended March 31, 2025 (Q2 2025), the gain on the sale of these SBA 7(a) loans was \$612K. Looking at the full fiscal year 2025, the gains on SBA loans totaled \$1.1 million.

Here's a quick look at how some of these key income components stacked up for the full fiscal year ended September 30, 2025, compared to the prior year:

Revenue Component	FY 2025 Amount (Millions)	FY 2024 Amount (Millions)
Net Interest and Dividend Income	\$31.9	\$28.0
Gains on Sale of SBA Loans	\$1.1	\$0.599
Gains on Sale of Other Real Estate Owned	\$0.229	\$1.3

Another component feeding into the non-interest income is the Income from Bank-Owned Life Insurance (BOLI). While the exact annual dollar amount for BOLI income isn't explicitly broken out for the full year in the same way as NII, it was cited as a factor contributing to the surge in other income during the second quarter of 2025 and aided the non-interest income in Q3 2025.

The category of Loan-related fees and service charges also contributes. For the three months ended September 30, 2025, higher interest rate swap fees and loan service charges increased by \$69 thousand and \$37 thousand, respectively, compared to the prior year period. This shows that fee income is an active, albeit smaller, part of the overall revenue picture.

You can see the mix of non-interest income by looking at the quarterly results:

• Q2 2025 Fee and other income surged 104% year-over-year to \$1.27 million.
• Q3 2025 Non-interest income was reported at \$0.64 million.
• Q3 2025 Non-interest income increased 55.5% year-over-year.

Finance: draft 13-week cash view by Friday.