Magyar Bancorp, Inc. · NASDAQ:MGYR
Magyar Bancorp — Shareholder Meeting (February 2015)
25 slides from Magyar Bancorp's shareholder meeting presentation, Feb 18, 2015
Slide 1: 2015 Annual Shareholders Meeting
2015 Annual Shareholders Meeting 1 February 18, 2015
Slide 2: Forward Looking Statements
Forward Looking Statements This presentation contains statements about future events that constitute forward - looking statements within the meaning of the Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such forward - looking statements may be ident
Slide 3: Company Overview
Company Overview Magyar Bancorp
Slide 4: Magyar Bancorp, Inc. Overview
Magyar Bancorp, Inc. Overview ▪ Magyar Bank, a New Jersey chartered savings bank originally founded in 1922, is the wholly owned subsidiary of Magyar Bancorp, Inc. ▪ Magyar Bancorp, Inc., trades on NASDAQ under the symbol MGYR. Currently 45.0% is owned by public shareholders. The balance of the shar
Slide 5: Magyar Bank Branch Locations
5 Magyar Bank Branch Locations Branchburg Bridgewater New Brunswick - HQ North Brunswick Edison South Brunswick
Slide 6: Deposits by Branch
Deposits by Branch $122.1 $105.8 $103.4 $45.2 $27.7 $35.0 $- $20.0 $40.0 $60.0 $80.0 $100.0 $120.0 $140.0 New Brunswick - HQ South Brunswick North Brunswick Branchburg Bridgewater Edison Dollars in Millions 6 as of 12/31/14
Slide 7: 2014 Review
2014 Review ▪ Non - performing loans declined 37% ▪ Non - performing assets declined 11% ▪ Sold nine OREO properties with a carrying value of $1.8 million ▪ Year End Net Interest Margin increased to 3.35% in 2014 compared to 3.27% in 2013 despite historically low interest rates ▪ Net Income for FY14
Slide 8: Financial Highlights
Financial Highlights Magyar Bancorp
Slide 9: Asset Trend
Asset Trend $537.9 $524.0 $508.8 $537.7 $530.4 $524.5 $490.0 $495.0 $500.0 $505.0 $510.0 $515.0 $520.0 $525.0 $530.0 $535.0 $540.0 $545.0 9/30/10 9/30/11 9/30/12 9/30/13 9/30/14 12/31/14 Dollars in Millions Total Assets 9
Slide 10: Loan Composition
Loan Composition $- $50.0 $100.0 $150.0 $200.0 $250.0 $300.0 $350.0 $400.0 $450.0 9/30/10 9/30/11 9/30/12 9/30/13 9/30/14 12/31/14 Dollars in Millions 1-4 Family Residential Commercial Real Estate Construction Commercial/Business HELOC Other 10 $406.8 $408.5 $384.9 $388.9 $399.6 $410.5
Slide 11: Non-Performing Loans
Non - Performing Loans $0 $5,000 $10,000 $15,000 $20,000 $25,000 $30,000 9/30/10 9/30/11 9/30/12 9/30/13 9/30/14 12/31/14 Dollars in Thousands Other HELOC 1-4 Family Residential Commercial/Business Commercial RE Construction $28,000 $10,584 $28,160 $20,074 $15,656 $9,785 11
Slide 12: Other Real Estate Owned
Other Real Estate Owned $12,655 $16,595 $13,381 $14,756 $17,342 $15,084 $- $2,000 $4,000 $6,000 $8,000 $10,000 $12,000 $14,000 $16,000 $18,000 $20,000 9/30/10 9/30/11 9/30/12 9/30/13 9/30/14 12/31/14 Dollars in Thousands 12
Slide 13: Sale of Other Real Estate Owned (OREO)
Sale of Other Real Estate Owned (OREO) ▪ Fiscal Year 2014 - Magyar Bank sold nine OREO properties with an aggregate carrying value of $1.8 million for a net gain of $23,000. ▪ Magyar Bank was able to secure the title for 25 other properties totaling $ 4.7 million during Fiscal Year 2014. ▪ 1 st Quar
Slide 14: Non-Performing Assets/Assets
Non - Performing Assets/Assets 5.21% 5.37% 3.95% 2.91% 1.84% 2.01% 2.35% 3.17% 2.62% 2.74% 3.27% 2.88% 0.00% 1.00% 2.00% 3.00% 4.00% 5.00% 6.00% 7.00% 8.00% 9.00% 9/30/10 9/30/11 9/30/12 9/30/13 9/30/14 12/31/14 Non-Performing Loans OREO 14 5.11% 7.56% 8.54% 6.57% 5.65% 4.89%
Slide 15: Deposit Composition
Deposit Composition $- $50.0 $100.0 $150.0 $200.0 $250.0 $300.0 $350.0 $400.0 $450.0 $500.0 9/30/10 9/30/11 9/30/12 9/30/13 9/30/2014 12/31/14 Dollars in Millions CDs Savings Accounts Money Market Accounts Checking $445.8 $428.0 $424.9 $416.6 $453.3 $448.5 15
Slide 16: Checking Deposit Growth
Checking Deposit Growth $20,000 $40,000 $60,000 $80,000 $100,000 $120,000 $140,000 $160,000 9/30/10 9/30/11 9/30/12 9/30/13 9/30/14 12/31/14 Dollars in Thousands Non-Interest Checking Interest Checking 16 $88,771 $129,965
Slide 17: Quarterly Net Interest Margin
Quarterly Net Interest Margin 3.27% 3.33% 3.33% 3.34% 3.38% 3.33% 2.64% 3.04% 2.73% 2.53% 2.52% 2.17% 2.98% 3.08% 3.09% 3.05% 3.09% 3.06% 2.00% 2.20% 2.40% 2.60% 2.80% 3.00% 3.20% 3.40% 3.60% 9/30/13 12/31/13 3/31/14 6/30/14 9/30/14 12/31/14 MGYR Net Interest Margin 10-yr. Treasury Yield Average - M
Slide 18: Pre-Tax Quarterly Net Income
Pre - Tax Quarterly Net Income $218 $174 $53 $265 $272 $256 $- $100 $200 $300 9/30/13 12/31/13 3/31/14 6/30/14 9/30/14 12/31/14 Dollars in Thousands 18
Slide 19: Stockholders Equity
Stockholders Equity 19 MGYR Remains Well - Capitalized $44.5 $46.2 $43.5 $44.0 $44.5 $45.0 $45.5 $46.0 $46.5 9/30/11 9/30/12 9/30/13 9/30/14 12/31/14 (Dollars in Millions) Total Equity $7.67 $7.94 $7.50 $7.55 $7.60 $7.65 $7.70 $7.75 $7.80 $7.85 $7.90 $7.95 $8.00 9/30/11 9/30/12 9/30/13 9/30/14 12/31
Slide 20: Stock Price Performance
Stock Price Performance Magyar Bancorp
Slide 21: MGYR Stock Performance
MGYR Stock Performance (20.00) 0.00 20.00 40.00 60.00 80.00 100.00 120.00 Percentage Change MGYR SNL U.S. Thrift SNL Thrift MHCs MGYR Stock Price 2/11/2012 - $4.30 2/11/2015 - $8.41 95.5% 65.8% 43.7% 21
Slide 22: Fiscal Year 2015 Outlook
Fiscal Year 2015 Outlook Magyar Bancorp
Slide 23: Fiscal Year 2015 Outlook
Fiscal Year 2015 Outlook • Focus on residential and commercial lending • Continued reduction in non - performing assets • Continued focus on non - interest expenses • These strategies will further increase net income and correspond to enhanced shareholder value 23
Slide 24: Fiscal Year 2015 Outlook
Fiscal Year 2015 Outlook • Non - Interest Checking Growth • Regulatory Impact • Web site/Online Banking Upgrade 24
Slide 25: Questions?
Questions? Magyar Bancorp