Item 8.01 Other Events

On December 8, 2022, Magyar Bancorp, Inc. (the "Company") announced the completion of the stock repurchase program authorized July 21, 2022, repurchasing 354,891 shares at an average price of $12.90, and that its Board of Directors authorized an additional stock repurchase plan pursuant to which the Company intends to repurchase up to 5% of its outstanding shares, or up to 337,146 shares. The timing of the repurchases will depend on certain factors, including but not limited to, market conditions and prices, the Company's liquidity requirements and alternative uses of capital. A copy of the press release announcing the share repurchase plan is included herein as Exhibit 99.1 and is incorporated by reference.

Item 9.01 Financial Statements and Exhibits






(d) Exhibits


Exhibit Description

99.1 Press release dated December 8, 2022

104 The cover page for this Current Report on Form 8-K, formatted in Inline

XBRL

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