Magyar Bancorp, Inc. · NASDAQ:MGYR
Magyar Bancorp — Shareholder Meeting (February 2025)
27 slides from Magyar Bancorp's shareholder meeting presentation, Feb 20, 2025
Slide 1: 2025 Annual Shareholders Meeting
2025 Annual Shareholders Meeting February 20, 2025
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 identifi
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 December 31, 2024, we had $1 billion in total assets, $805 milli
Slide 4: Magyar Bank Branch Locations
4 Magyar Bank Branch Locations Martinsville, NJ North Brunswick, NJ South Brunswick, NJ New Brunswick, NJ (HQ) Inman Ave, Edison, NJ TanoMall, Edison, NJ Branchburg, NJ
Slide 5: Deposits by Branch
Deposits by Branch Totals exclude brokered deposits. $392 $121 $96 $35 $25 $28 $57 $346 $127 $103 $42 $73 $42 $86 $0 $50 $100 $150 $200 $250 $300 $350 $400 $450 Total Deposits By Branch Total Deposits - 12/31/23 Total Deposits - 12/31/24 *Bridgewater office closed November 1, 2024. Deposits were tra
Slide 6: 2024 Highlights
2024 Highlights ▪ Deposits increased by 5.5% ▪ 12% Loan Growth ▪ Earnings Per Share increased to $1.23 from $1.20 ▪ Increased Dividend Payments ▪ $0.26 per share paid in 2024 compared to $.20 paid in 2023 ▪ Special dividend $0.04 per share paid in December 2024 ▪ Increased shares repurchased to 195,
Slide 7: 2024 Highlights
2024 Highlights ▪ Strong Liquidity ▪ Loan-to-Deposit ratio 95% as of 12/31/24 ▪ Recognized as 5-star Bank by Bauer Financial ▪ This is the highest rating given by Bauer ▪ Named to 2024 KBW Honor Roll ▪ Recognizes high performing banks with the strongest and/or most consistent earnings growth over th
Slide 8: Financial Highlights
Financial Highlights Magyar Bank Seumply Magnificent for over 100 Years
Slide 9: Asset Trend
Asset Trend $300 $400 $500 $600 $700 $800 $900 $1,000 $1,100 D o l l a r s i n M i l l i o n s Loans Investments & Cash Other $1,008 $774 $907 $799 $754 9 $952
Slide 10: Loan Composition
Loan Composition $- $100 $200 $300 $400 $500 $600 $700 $800 $900 9/30/20 9/30/21 9/30/22 9/30/23 9/30/24 12/31/24 D o l l a r s i n M i l l i o n s 1-4 Family Residential Commercial Real Estate (CRE) Construction Commercial/Business Home Equity Line of Credit Other 10 $780 $629 $805 $594 $611 $698
Slide 11: Additional CRE Detail
Additional CRE Detail 29.3% 9.6% 11.1% 10.7% 5.4% 15.2% 18.7% 0.0% 5.0% 10.0% 15.0% 20.0% 25.0% 30.0% 35.0% - 20,000 40,000 60,000 80,000 100,000 120,000 140,000 160,000 P e r c e n t a g e o f C R E L o a n s D o l l a r s i n T h o u s a n d s Owner Occupied - 38.1% Non-Owner Occupied - 61.9% % of
Slide 12: FY 2024 Loan Origination
FY 2024 Loan Origination Residential/Home Equity 25% Consumer 0% Construction 16% SBA 7% Commercial RE 48% Commercial 4% 12 $161 MillionTotal
Slide 13: Non-Performing Assets/Assets
Non-Performing Assets/Assets 0.00% 1.00% 2.00% 3.00% 4.00% 5.00% 9/30/20 9/30/21 9/30/22 9/30/23 9/30/24 12/31/24 Non-Performing Loans Other Real Estate Owned 1.63% 13 0.29% 0.60% 0.39% 1.14% 0.42%
Slide 14: Deposit Composition
Deposit Composition $0 $100 $200 $300 $400 $500 $600 $700 $800 $900 9/30/20 9/30/21 9/30/22 9/30/23 9/30/24 12/31/24 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 14 $618 $640 $668 $755 $797 $849
Slide 15: Higher Interest Rates Led to Higher Funding Costs
Higher Interest Rates Led to Higher Funding Costs 4.44% 4.61% 4.91% 5.10% 5.26% 5.35% 5.50% 5.60% 5.59% 1.27% 1.51% 2.19% 2.55% 2.80% 2.98% 3.24% 3.29% 3.05% 4.50% 5.00% 5.50% 5.50% 5.50% 5.50% 5.50% 5.00% 4.50% 1.00% 2.00% 3.00% 4.00% 5.00% 6.00% 7.00% Yield on interest earning assets Cost of inter
Slide 16: Quarterly Net Interest Margin
Quarterly Net Interest Margin 3.36% 3.29% 3.17% 3.02% 3.08% 3.22% 3.09% 3.10% 3.06% 3.09% 3.09% 3.12% 3.00% 3.05% 3.10% 3.15% 3.20% 3.25% 3.30% 3.35% 3.40% 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 MGYR Net Interest Margin Average NIM - Peer Group 16 Peer Group –Mid Atlantic Bank
Slide 17: Net Income
Net Income 17 $2,190 $6,120 $7,919 $7,709 $7,783 $2,085 $0 $1,000 $2,000 $3,000 $4,000 $5,000 $6,000 $7,000 $8,000 $9,000 FY20 FY21 FY22 FY23 FY24 Q125 D o l l a r s i n T h o u s a n d s
Slide 18: Earnings Per Share
Earnings Per Share $0.38 $1.01 $1.17 $1.20 $1.23 $0.34 4,000,000 4,500,000 5,000,000 5,500,000 6,000,000 6,500,000 7,000,000 7,500,000 $- $0.20 $0.40 $0.60 $0.80 $1.00 $1.20 $1.40 FY20 FY21 FY22 FY23 FY24 Q125 N u m b e r o f S h a r e s E a r n i n g s P e r S h a r e Earnings Per Share Shares Outs
Slide 19: Book Value Per Share
Book Value Per Share 19 $13.76 $14.60 $15.70 $16.98 $17.23 $8.00 $10.00 $12.00 $14.00 $16.00 $18.00 9/30/21 9/30/22 9/30/23 9/30/24 12/31/24
Slide 20: Stock Price Performance
Stock Price Performance Magyar Bank Seumply Magnificent for over 100 Years
Slide 21: MGYR LTM Stock Performance
(15%) (10%) (5%) 0% 5% 10% 15% 20% 25% 30% 35% 40% 1/31/24 3/31/24 5/31/24 7/31/24 9/30/24 11/30/24 1/31/25 MGYR LTM Stock Performance 21 KRX MGYR Stock price on 1/31/2025 -$14.34 24.37% 24.04%
Slide 22: P/TBV vs Peers
0.40x 0.67x 0.68x 0.70x 0.83x 0.86x 0.87x 0.90x 0.92x 0.93x 0.93x 1.07x 1.21x 1.23x PNBK FBIP SRBK BSPA MGYR LFGP KTHN BVFL HARL DIMC CMHF AMBK TYCB HONT Median: 0.88X P/TBV vs Peers 22 Source: S&P Global Market Intelligence as of 1/31/25 MGYR stock price on 1/31/2025 -$14.34 Note: Peer defined as b
Slide 23: MGYR Stock Performance Since IPO
6.00 8.00 10.00 12.00 14.00 16.00 25 50 75 Price ($) Volume (shares 000's) Vol Price MGYR Stock Performance Since IPO 23 MGYR Stock price on 1/31/2025 -$14.34 Second Step IPO Date of 7/15/2021 at $10.00 per share. 43.4%
Slide 24: Fiscal Year 2025 Outlook
Fiscal Year 2025 Outlook Magyar Bank Seumply Magnificent for over 100 Years
Slide 25: Fiscal Year 2025 Outlook
Fiscal Year 2025 Outlook • Enhance shareholder value – Quarterly dividend increased to $0.06 per share – Stock buyback • Continued emphasis on community banking strategy to grow the business – Identify quality residential and commercial lending opportunities 25
Slide 26: Fiscal Year 2025 Outlook
Fiscal Year 2025 Outlook • Manage interest rate risk • IT Cybersecurity • Continued focus on non-interest expenses –Martinsville office produced significant cost savings –Utilize technology to achieve more efficient branches • Evaluate additional branch locations based on marketing opportunities 26
Slide 27: Questions?
Questions? Magyar Bank Semply Magnificent for over 100 Years