Magyar Bancorp Q2 net income rises 13% on higher interest income

Magyar Bancorp

23/04/2026 21:18

Overview

US community bank's fiscal Q2 net income rose 13% yr/yr on higher net interest income

Earnings per share increased to $0.49 basic and $0.48 diluted from $0.43 last year

Net interest margin expanded 35 bps driven by strong loan growth

Outlook

Company expects strong loan growth and net interest margin expansion to continue in H2 fiscal yr

Magyar Bancorp says it is positioned to navigate current market volatility in coming quarters

Result Drivers

NET INTEREST MARGIN EXPANSION - Co said net interest margin rose 35 bps to 3.66% due to strong loan growth and higher yields on interest-earning assets

CREDIT LOSS PROVISIONS - Higher provisions for credit losses driven by increased commercial real estate and construction loan balances

LOWER NON-INTEREST INCOME - Decrease in non-interest income primarily due to lower gains from SBA loan sales and reduced service charges

Company press release: ID:nPn5WYFT7a

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q2 Dividend
$0.10


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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.)