2023 Annual Shareholders

Meeting

February 16, 2023

1

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 by reference to a future period or periods, or by the use of forward-looking terminology, such as "may," "will," "believe," "expect," or similar terms or variations on those terms, or the negative of those terms. Forward-looking statements are subject to numerous risks and uncertainties, including those risk-factors previously disclosed in the Company's filings with the SEC, and the following: general economic conditions, changes in interest rates, regulatory considerations, competition, technological developments, retention and recruitment of qualified personnel, and market acceptance of the Company's pricing, products and services, and risks related to the economic environment in the market areas in which the Bank operates, particularly with respect to the real estate market in New Jersey. In addition, the COVID-19 pandemic has had and continues to have an adverse impact on the economy locally and nationally and may continue to adversely affect the Company's business.The Company wishes to caution readers not to place undue reliance on any such forward-looking statements, which speak only as of the date made. The Company does not undertake and specifically declines any obligation to publicly release the result of any revisions that may be made to any forward-looking statements to reflect events or circumstances after the date of such statements or to reflect the occurrence of anticipated or unanticipated events.

2

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, 2022, we had $822 million in total assets, $666 million in net loans, $676 million in deposits and $100 million in stockholders' equity.
  • Magyar Bank conducts its business from its main office in New Brunswick and six additional branch offices located in North Brunswick, South Brunswick, Branchburg, Bridgewater, and two in Edison, New Jersey.

3

Magyar Bank Branch Locations

4

Deposits by Branch

Dollars in Millions

350

300

250

200

150

100

50

0

$299

$235

$130 $126

$108 $94

$46 $45

$29 $27

$46

$36

$48 $37

New Brunswick - South Brunswick North Brunswick

Branchburg

Bridgewater

North Edison

Edison - Tano

HQ

Mall

Total Deposits - 12/31/21

Total Deposits - 12/31/22

Totals exclude brokered deposits.

5

This is an excerpt of the original content. To continue reading it, access the original document here.

Attachments

  • Original Link
  • Original Document
  • Permalink

Disclaimer

Magyar Bancorp Inc. published this content on 15 February 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 16 February 2023 14:48:06 UTC.