Magyar Bank in New Brunswick, New Jersey (NJ)
Overview, Financial Summary, Detailed Financial Reports, Branches

Magyar Bank - Overview

  • General
  • FDIC Certificate #: 30704
    Status: Active
    Federal Reserve ID: 548771
    Bank Holding Company (Regulatory Top Holder): Magyar Bancorp, Mhc (RSSDID: 3382855, Location: New Brunswick, NJ)
    Date Established: January 01, 1922
    Trust Powers Granted: No
    Bank Charter Class: Savings banks, state charter, supervised by the FDIC
    Offices: 6 (Domestic: 6, Interstate: No)
    OTS Docket #: 5775
    FDIC's unique #: 43538
    Numeric code: 41
    Regulator: FDIC
    Insurance Fund Membership: Deposit Insurance Fund (DIF)
    FDIC Insured: Yes
    Insured Savings Institution: Yes
    Deposit Insurance Fund member: Yes
    Ownership Type: Non-Stock
    FFIEC Call Report 31 Filer: No
    State Chartered: Yes
    Subchapter S Corporations: No
    Asset Concentration Hierarchy: Commercial Lending Specialization
    Date of Deposit Insurance: September 07, 1954
    Last Structure Change Effective Date: January 01, 2010
    Last Structure Change Process Date: Febuary 10, 2012
    Last Data Update: Febuary 10, 2012
    Data Source Date: April 05, 2012
  • Location
  • Address: 400 Somerset Street, New Brunswick, NJ 8903
    County: Middlesex
    Quarterly Banking Profile Region: New York
    FDIC Geographic Region: New York
    FDIC Supervisory Region: New York
    FDIC Field Office: Jamesburg
    Office of the Comptroller the Currency (OCC) District: Northeast
    Office of Thrift Supervision Region: Northeast
    Metropolitan Statistical Area (MSA): Middlesex-Somerset-Hunterdon, NJ (#5015)
    Consolidated Metropolitan Statistical Area (CMSA): New York-Northern New Jersey-Long Island, NY-NJ-CT-PA (#70)
    Combined Statistical Area (CSA): New York-Newark-Bridgeport, NY-NJ-CT-PA (#408)
    Core Based Statistical Area (CBSA): New York-Northern New Jersey-Long Island, NY-NJ-PA (#35620)
    CBSA Metro Statistical Area: New York-Northern New Jersey-Long Island, NY-NJ-PA (#35620)
    Core Based Statistical Division: Edison-New Brunswick, NJ (#20764)
  • Financial Summary
  • Total assets: $526.3 mil
    Equity capital: $44.1 mil
    Deposits held in domestic offices: $429.5 mil
    Return on assets (ROA): 0.03% ($0.2 mil)
    Quarterly return on assets: 0.13% ($0.7 mil)
    Return on Equity (ROE): 0.41% ($0.2 mil)
    Quarterly return on equity: 1.53% ($0.7 mil)
    Net income: $0.2 mil
    Quarterly Net income: $0.2 mil
    Pretax return on assets: 0.04% ($210.5 mil)
    Quarterly Pretax return on assets: 0.13% ($684.2 mil)

1992 - 1999 Historical total assets, liabilities and capital ($ mil)

2000 - 2011 Historical total assets, liabilities and capital ($ mil)

Historical Total Incomes ($ mil)

Historical Total Expenses ($ mil)

Historical total employees (full-time equivalent)

Assets and Liabilities (December 31, 2011)

  • Dollar figures in thousands
  • 89Total employees (full-time equivalent)
  • $526,327Total assets
  • $9,883Cash and due from depository institutions
  • $7,891Interest-bearing balances
  • $74,426Securities
  • $0Federal funds sold & reverse repurchase agreements
  • $386,351Net loans & leases
  • $3,848Loan loss allowance
  • $0Trading account assets
  • $20,346Bank premises and fixed assets
  • $14,726Other real estate owned
  • $251Goodwill and other intangibles
  • $526,327Life insurance assets
  • $20,344All other assets
  • $482,261Total liabilities and capital
  • $429,460Total liabilities
  • $377,932Total deposits
  • $429,460Interest-bearing deposits
  • $93Deposits held in domestic offices
  • 15000.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $36,117Trading liabilities
  • $0Other borrowed funds
  • $1,684Subordinated debt
  • $44,066All other liabilities
  • $44,066Total equity capital
  • $44,066Total bank equity capital
  • $0Perpetual preferred stock
  • $0Common stock
  • $22,264Surplus
  • $21,802Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $24,937Income earned, not collected on loans
  • $0Earning assets
  • $1,972Long-term assets (5+ years)
  • $468,668Average Assets, year-to-date
  • $203,493Average Assets, quarterly
  • $528,252Volatile liabilities
  • $525,175Insider loans
  • $350,069FHLB advances
  • $525,081Loans and leases held for sale
  • $9,744Unused loan commitments
  • $9,744Tier 1 (core) risk-based capital
  • $42,216Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $0Total unused commitments
  • $35,077Restructured Loans and leases
  • $6,731Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $22,207Total interest income
  • $7,030Total interest expense
  • $15,177Net interest income
  • $1,760Provision for loan and lease losses
  • $1,260Total noninterest income
  • $0Fiduciary activities
  • $508Service charges on deposit accounts
  • $0Trading account gains & fees
  • $752Additional noninterest income
  • $14,703Total noninterest expense
  • $6,291Salaries and employee benefits
  • $3,084Premises and equipment expense
  • $5,328Additional noninterest expense
  • -$26Pre-tax net operating income
  • $217Securities gains (losses)
  • $11Applicable income taxes
  • $180Income before extraordinary items
  • $0Extraordinary gains - net
  • $180Net income attributable to bank
  • $0Net charge-offs
  • $180Cash dividends
  • $2,199Sale, conversion, retirement of capital stock, net
  • $0Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 4.73%Yield on earning assets
  • 1.50%Cost of funding earning assets
  • 3.23%Net interest margin
  • 0.27%Noninterest income to earning assets
  • 3.13%Noninterest expense to earning assets
  • -0.00%Net operating income to assets
  • 0.03%Return on assets (ROA)
  • 0.04%Pretax return on assets
  • 0.41%Return on equity (ROE)
  • 0.41%Retained earnings to average equity (YTD only)
  • 0.56%Net charge-offs to loans
  • 80.04%Credit loss provision to net charge-offs
  • 0.79%Efficiency ratio
  • 89,451Assets per employee
  • 5.91%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 0.00%Loss allowance to loans
  • 0.99%Loss allowance to noncurrent loans
  • 15.43%Noncurrent assets plus other real estate owned to assets
  • 7.54%Noncurrent loans to loans
  • 6.39%Net loans and leases to deposits
  • 89.96%Net loans and leases to core deposits
  • 96.78%Equity capital to assets
  • 8.37%Core capital (leverage) ratio
  • 8.04%Tier 1 risk-based capital ratio
  • 12.06%Total risk-based capital ratio
  • Memoranda
  • $13Average assets
  • $528,252Average earning assets
  • $43,696Average equity
  • $469,787Average loans

List of branches

  • 6 New Jersey Branches as of April 05, 2012
  • NoIDNameAddressEstablishedService TypeMap
    043538Magyar Bank400 Somerset Street, New Brunswick, NJ 8903January 01, 1922Full Service Brick and Mortar
    12817993050 Highway 27 Branch3050 Highway 27, South Brunswick, NJ 8824January 01, 1922Full Service Brick and Mortar
    2364260North Brunswick Branch582 Milltown Road, North Brunswick, NJ 8902June 10, 2002Full Service Brick and Mortar
    3455809Branchburg Branch1000 Route 202, Branchburg, NJ 8876September 29, 2006Full Service Brick and Mortar
    5510409Bridgewater Branch475 North Bridge Street, Bridgewater, NJ 8807June 28, 2010Full Service Brick and Mortar
    6521352North Edison Branch1167 Inman Avenue, Edison, NJ 8820July 15, 2011Full Service Brick and Mortar

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