Magyar Bancorp, Inc. · NASDAQ:MGYR
Magyar Bancorp — Virtual Bank Conference 2022
23 slides from Magyar Bancorp's conference presentation, Sep 13, 2022
Slide 1: Virtual Bank Conference September 13, 2022
1 Virtual Bank Conference September 13, 2022
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 identified
Slide 3: 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. ▪ As of June 30, 2022 we had $791 million in total assets, $617 million
Slide 4: Stock Offering/2nd Step Transaction
Stock Offering/2 nd Step Transaction • Completed July 14, 2021 • Issued 3,910,000 new common shares at $10 price • Raised $37.4 million, net of offering expenses • 1.2213 exchange ratio 4
Slide 5: Magyar Bank Branch Locations
5 Magyar Bank Branch Locations
Slide 6: Deposits by Branch
Deposits by Branch $246 $129 $116 $49 $31 $41 $41 0 50 100 150 200 250 300 New Brunswick - HQ South BrunswickNorth Brunswick Branchburg Bridgewater North Edison Edison - Tano Mall D o l l a r s i n M i l l i o n s Total Deposits - 6/30/22 6 Totals exclude brokered deposits.
Slide 7: 2021/22 Review
2021/22 Review ▪FY21 -Net Income $6.1 million, 179% increase over FY20 ▪FY22 –Net income first 9 months $5.5 million, 22% increase over same period FY21 ▪Dividends ▪ Special Dividend $0.12/share paid in December 2021 ▪ Quarterly Dividend of $.03/share paid February/May/August 2022 ▪Share Repurchases
Slide 8: Financial Highlights
Financial Highlights 8
Slide 9: Asset Trend
Asset Trend $300 $400 $500 $600 $700 $800 $900 D o l l a r s i n M i l l i o n s Loans Investments & Cash Other $630 $774 $791 $624 $603 $754 9
Slide 10: Loan Composition
Loan Composition $- $100 $200 $300 $400 $500 $600 $700 9/30/17 9/30/18 9/30/19 9/30/20 9/30/21 6/30/22 D o l l a r s i n M i l l i o n s 1-4 Family Residential Commercial Real Estate Construction Commercial/Business HELOC Other 10 $523 $474 $512 $594 $611 $626
Slide 11: Non-Performing Assets/Assets
Non-Performing Assets/Assets 0.00% 0.20% 0.40% 0.60% 0.80% 1.00% 1.20% 9/30/21 6/30/22 Non-Performing Loans OREO 11 0.61% 1.14%
Slide 12: Deposit Composition
Deposit Composition $500 $530 $530 $618 $640 $660 $0 $100 $200 $300 $400 $500 $600 $700 $800 9/30/17 9/30/18 9/30/19 9/30/20 9/30/21 6/30/22 D o l l a r s i n M i l l i o n s CDs (inc. IRA) Savings Accounts Money Market Accounts Checking Totals 12
Slide 13: Checking Deposit Composition
Checking Deposit Composition $142 $151 $154 $229 $253 $278 $0 $50 $100 $150 $200 $250 $300 $350 $400 9/30/17 9/30/18 9/30/19 9/30/20 9/30/21 6/30/22 D o l l a r s i n M i l l i o n s Non-Interest Checking Interest Checking Total 13
Slide 14: Quarterly Net Interest Margin
Quarterly Net Interest Margin 3.23% 3.38% 3.64% 3.54% 3.57% 3.72% 0.69% 0.93% 1.68% 1.48% 1.48% 3.01% 2.81% 2.87% 2.92% 2.99% 3.06% 3.07% 0.00% 0.50% 1.00% 1.50% 2.00% 2.50% 3.00% 3.50% 4.00% 9/30/20 12/31/20 3/31/21 6/30/21 9/30/21 6/30/22 MGYR Net Interest Margin 10-yr. Treasury Yield Average NIM
Slide 15: Net Income Up 22% in FY22
Net Income Up 22% in FY22 $2,996 $2,190 $6,120 $5,489 $- $1,000 $2,000 $3,000 $4,000 $5,000 $6,000 $7,000 FY19 FY20 FY21 FY22 - 9 months D o l l a r s i n T h o u s a n d s 15
Slide 16: Earnings Per Share
Earnings Per Share $0.51 $0.38 $1.01 $0.81 $- $0.20 $0.40 $0.60 $0.80 $1.00 $1.20 FY19 FY20 FY21 FY22 - 9 months 16
Slide 17: Stockholders Equity
Stockholders Equity 17 $9.78 $13.76 $14.23 $0.00 $2.00 $4.00 $6.00 $8.00 $10.00 $12.00 $14.00 $16.00 9/30/20 9/30/21 6/30/22 Book Value Per Share
Slide 18: Stock Price Performance
Stock Price Performance 18
Slide 19: MGYR Stock Performance – 1 Year
MGYR Stock Performance –1 Year 19 Data as of 9/7/2022 MGYR: 16.38% S&P U.S. Banks Index: 15.66% MGYR Price/Book as of 9/7/22 –91%
Slide 20: Fiscal Year 2022 Outlook
Fiscal Year 2022 Outlook 20
Slide 21: Strategy
Strategy • Enhance shareholder value –Quarterly dividend • Continued emphasis on community banking strategy to grow the business –Identify quality residential and commercial lending opportunities 21
Slide 22: Strategy
Strategy • Manage interest rate risk in a rising interest rate environment • IT Cybersecurity • Online deposit account opening product launch Q2 2022 • Continued focus on non-interest expenses 22
Slide 23: Questions?
Questions? 2-20 or 22 Magyar Bank Sumply Magnificent for 100 Years