Magyar Bancorp (MGYR) AGM presentation summary

Company overview and branch network

• Operates as a New Jersey-chartered savings bank with $1 billion in assets, $805 million in loans, $849 million in deposits, and $112 million in equity as of December 31, 2024.

• Main office in New Brunswick with six additional branches across New Jersey.

• Recent branch consolidation with Bridgewater office closure and deposit transfer to Martinsville.

2024 financial and operational highlights

• Deposits grew by 5.5% and loans by 12% in 2024.

• Earnings per share increased to $1.23, with total dividends rising to $0.26 per share plus a $0.04 special dividend.

• Repurchased 195,906 shares as part of a buyback program.

• Opened a new Martinsville location in October 2024.

• Maintained strong liquidity with a 95% loan-to-deposit ratio.

Asset, loan, and deposit trends

• Total assets reached $1.008 billion at year-end 2024, with a 6.0% CAGR since 2020.

• Loan portfolio grew at a 6.3% CAGR, with $805 million outstanding at year-end.

• CRE loans are 61.9% non-owner occupied, with retail and multi-family as major segments.

• Deposit base reached $849 million, growing at a 6.6% CAGR.