Overview
Magyar Bancorp fiscal Q4 net income stable at $2.5 mln, FY net income up 25%
Company declares quarterly dividend of $0.08 per share
Net interest margin increased by 39 basis points for fiscal Q4
Outlook
Company did not provide specific guidance for future quarters or fiscal year
Result Drivers
NET INTEREST MARGIN - FY NIM grew 20 bps, driven by higher interest income on loan originations and adjustable-rate commercial term loans repricing higher
LOAN PORTFOLIO GROWTH - 10% growth in loan portfolio contributed to annual net income increase
CREDIT LOSS PROVISIONS - Increased provisions for credit loss due to growth in commercial real estate loans and construction loan commitments
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q4 Dividend | $0.08 |
Press Release: ID:nPn5DsvLFa
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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.)