MAGYAR BANCORP, INC. (NASDAQ:MGYR) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
Item 5.02.Departure of Directors or Principal Officers; Election
of Directors; Appointment of Certain Officers; Compensatory
Arrangements of Certain Officers.
(d)On February 23, 2017, the Board of Directors of Magyar
Bancorp, Inc. (the Company) appointed Jon R. Ansari to the Boards
of Directors of the Company and its wholly owned subsidiary,
Magyar Bank, effective immediately. Mr. Ansaris term as director
expires at the next annual meeting of stockholders of the
Company. Mr. Ansari currently serves as Executive Vice President
and Chief Financial Officer of the Company and the Bank.
There are no transactions that are required to be disclosed to
Item 404(a) of SEC Regulation S-K.
The press release issued by the Company on February 27, 2017
related to the appointments is included in this filing as Exhibit
99.1.
| Item 9.01 | Financial Statements and Exhibits |
| (a) | Financial statements of businesses acquired. Not Applicable. |
| (b) | Pro forma financial information. Not Applicable. |
| (c) | Shell company transactions. Not Applicable |
| (d) | Exhibits. |
99.1: Press Release, Dated February 27, 2017, Announcing the
Appointment of Jon R. Ansari to the Boards of Directors of Magyar
Bancorp, Inc. and Magyar Bank.
About MAGYAR BANCORP, INC. (NASDAQ:MGYR)
Magyar Bancorp, Inc. is a holding company of Magyar Bank (the Bank). The Bank’s principal business consists of attracting retail deposits from the public in the areas surrounding its main office in New Brunswick, New Jersey and its branch offices located in Middlesex and Somerset Counties, New Jersey. The Bank invests these deposits, together with funds generated from operations and wholesale funding, in residential mortgage loans, home equity loans, home equity lines of credit, commercial real estate loans, commercial business loans, small business administration (SBA) loans, construction loans and investment securities. The Bank’s primary sources of funds are deposits, borrowings, and principal and interest payments on loans and securities. The Bank’s deposits include certificates of deposit, demand, savings, negotiable order of withdrawal (NOW) and money market accounts. MAGYAR BANCORP, INC. (NASDAQ:MGYR) Recent Trading Information
MAGYAR BANCORP, INC. (NASDAQ:MGYR) closed its last trading session up +0.33 at 13.50 with 0 shares trading hands.
