Executive Summary

Q3 2025 delivered strong year-over-year earnings growth: net income rose 46% to $2.47M and diluted EPS was $0.40, driven by 20.5% growth in net interest and dividend income and wider net interest margin to 3.35% .
Linked quarter performance showed modest normalization: net income eased from $2.68M in Q2 to $2.47M in Q3, while NIM expanded sequentially from 3.31% to 3.35%, reflecting deposit cost improvements and disciplined balance sheet management .
Non-interest income increased 55.5% YoY to $0.64M, aided by higher bank-owned life insurance income and loan-related fees; OpEx rose 3.6% YoY on compensation costs .
The Board raised the quarterly dividend to $0.08 (from $0.06 in Q2), signaling confidence in earnings trajectory and capital position .
Sell-side coverage appears limited; S&P Global consensus EPS was unavailable, reducing “beat/miss” signaling. Revenue consensus was also unavailable; only actuals were present in S&P Global data [GetEstimates: Q3 2025].

What Went Well and What Went Wrong

Net interest margin expanded 33 bps YoY to 3.35%, with interest-earning asset yields up and liability costs down, reflecting effective pricing and mix management .
Loan growth remained robust: total loans were $844.0M at quarter-end, up $64.2M YTD, led by commercial real estate; book value per share rose to $18.03 .
Management emphasized recognition by KBW’s 2025 Honor Roll and highlighted stock price strength during the quarter, reinforcing external validation of performance and investor traction: “Our Community Banking strategy continues to produce strong financial results…we are proud of this accomplishment” .

Non-performing loans increased to $0.92M vs. $0.232M at FY24 year-end (0.11% of loans vs. 0.03%), indicating some asset quality pressure, albeit at low absolute levels .
Provision for credit losses rose to $0.101M from a net recovery of $0.054M in Q3 2024 due to portfolio growth in CRE, residential mortgage, and commercial business loans .
Operating expenses increased 3.6% YoY on compensation and benefits; effective tax rate rose to 28.9% vs. 22.9% in Q3 2024, dampening flow-through from higher pre-tax income .

Metric	Q3 2024	Q2 2025	Q3 2025
Net Interest & Dividend Income ($USD Millions)	$6.78	$7.88	$8.18
Other Income ($USD Millions)	$0.41	$0.64	$0.64
Total Operating Revenue ($USD Millions)	$7.19 (6.78+0.41)	$8.52 (7.88+0.64)	$8.81 (8.18+0.64)
Net Income ($USD Millions)	$1.69	$2.68	$2.47
Diluted EPS ($USD)	$0.27	$0.43	$0.40
Net Interest Margin (%)	3.02%	3.31%	3.35%

Segment breakdown: Not applicable; key revenue components shown above (net interest & dividend income, other income) .

KPIs

KPI	Q3 2024	Q2 2025	Q3 2025
Loans Receivable ($USD Millions)	$780.16	$843.99	$845.40
Deposits ($USD Millions)	$796.67	$819.96	$820.00
Borrowings ($USD Millions)	$28.57	$36.05	$36.05
ROA (annualized, %)	0.71%	1.05%	0.96%
ROE (annualized, %)	6.41%	9.55%	8.84%
Book Value/Share ($)	$16.55	$18.03	$18.03
NPLs ($USD Thousands)	$232	$920	$920
NPL Ratio (%)	0.03%	0.11%	0.11%
Allowance to Total Loans (%)	0.97%	0.95%	0.95%

Estimates vs. Actuals

Metric	Consensus (S&P Global)	Actual	Surprise
Revenue ($USD Millions)	N/A	$8.713*	N/A [GetEstimates: Q3 2025]
Diluted EPS ($USD)	N/A	$0.40	N/A

Values with asterisk (*) retrieved from S&P Global.

Metric	Period	Previous Guidance	Current Guidance	Change
Quarterly Dividend/Share ($)	Q3 2025 (paid Aug 21, 2025)	$0.06 (Q2 declared May 28, 2025)	$0.08 (Q3 declared Aug 21, 2025)	Raised
Revenue/Margins/OpEx/OI&E/Tax rate	Q3 2025	Not provided	Not provided	Maintained (no formal guidance)

No earnings call transcript was published for Q3 2025; themes are derived from management’s press releases.

Topic	Previous Mentions (Q1 and Q2)	Current Period (Q3)	Trend
Net Interest Margin	Q1: NIM up 14 bps QoQ to 3.22% ; Q2: NIM up to 3.31%	Expanded to 3.35%	Improving
Loan Growth	Q1: Loans +$25.3M QoQ; CRE led ; Q2: Loans +$64.2M YTD	Loans $845.4M (+8.2% YTD)	Strong
Deposit Mix/Costs	Q1: Deposits +6.5% QoQ; mix shift to interest-bearing ; Q2: Money market +8.6%	Deposit costs decreased; total deposits $820.0M	Favorable
Asset Quality	Q1: NPLs 0.04%; NPAs 0.29% ; Q2: NPLs up to 0.11%	NPLs steady at 0.11%; allowance ~0.95%	Slightly weaker vs. FY24
BOLI Restructure	Q1: BOLI income higher post-restructure ; Q2: BOLI income +84.9% YoY	Continued benefit to other income	Supportive
Branch/Operations	Q1: Bridgewater closure, lease termination costs ; Q2: Occupancy costs elevated	Operating discipline; OpEx up 3.6% YoY	Neutral

“Our Community Banking strategy continues to produce strong financial results…loan growth…prudent balance sheet management…we are proud of this accomplishment, and feel Magyar is well positioned to continue to produce solid results as we head into the final quarter of our fiscal year” — John Fitzgerald, President & CEO .
Q3 context: higher net interest income and wider margins, offset by higher provisions and OpEx contributed to YoY earnings growth .
Dividend increase to $0.08 underscores confidence in sustainable performance .

No Q3 2025 earnings call transcript was available; no public Q&A to report [List: earnings-call-transcript returned none for MGYR].

S&P Global consensus EPS and revenue estimates for Q3 2025 were unavailable; MGYR appears thinly covered by sell-side. Actual diluted EPS was $0.40, and S&P Global recorded revenue actuals at $8.713M* [GetEstimates: Q3 2025].
With limited consensus data, estimate revisions are unlikely to be a near-term catalyst; investors should focus on NIM trajectory, loan growth sustainability, and asset quality signals (NPL ratio) .

Values with asterisk (*) retrieved from S&P Global.

Earnings quality supported by margin expansion: NIM rose to 3.35%, and net interest income grew 20.5% YoY; watch deposit cost trends as a key lever for continued NIM improvement .
Loan growth remains a core driver; CRE and residential mortgages led YTD growth—monitor underwriting standards and concentration risk as NPLs ticked up to 0.11% .
Non-interest income is diversifying modestly (BOLI, prepayment fees, late charges), providing incremental earnings support even as provisions normalize with loan portfolio growth .
Operating discipline is intact; compensation pressures were manageable, and overall OpEx rose 3.6% YoY—efficiency improvements could bolster ROE in subsequent quarters .
Capital return is constructive: dividend lifted to $0.08; book value/share at $18.03 reflects earnings accretion despite prior repurchases .
Limited sell-side coverage dampens estimate-driven trading catalysts; price action likely tied to reported NIM, loan growth, and asset quality updates rather than “beat/miss” headlines [GetEstimates: Q3 2025] .
Near-term focus: sustainability of NIM gains amid rate environment, deposit mix stability, and credit metrics—particularly CRE performance—given the recent NPL increase from very low levels .