Magyar Bancorp, Inc. (NASDAQ:MGYR) was founded in 1922 and is headquartered in New Brunswick, New Jersey, USA. It is a bank holding company that provides various banking products to families and businesses in New Jersey by controlling Magyar Bank. and service. It is a subsidiary of Magyar Bancorp, MHC.
Magyar Bancorp, Inc. (MGYR):
Mazar Bank is a bank located in New Brunswick, New Jersey, with branches in central New Jersey. Magyar Bank was founded in 1922 by a group of Hungarian immigrants and businessmen in New Brunswick, named Magyar Building and Loan Association (Magyar Building and Loan Association), many of whom settled in Fifth in the city Ward. In 1954, its charter was amended and its name was changed to Magyar Savings & Loan Association. In 1989, the company changed its name to Magyar Savings Bank, SLA, and then changed its name to Magyar Bank in 2005.
In January 2006, Magyar Bancorp, the parent company of Magyar Bank, began trading on the Nasdaq stock market under the ticker symbol MGYR. MagyarBank Charitable Foundation 501(c) was established in June 2006.
Magyar Bank’s product portfolio includes various deposit products, such as on-demand savings, NOW accounts, money market accounts, savings and retirement accounts, and certificates of deposit; and includes 1 to 4 residential mortgages, multi-family and commercial real estate mortgages, Home equity loans and credit lines, commercial business loans, small business management loans, construction loans, and consumer loans include loan products, mainly including secured demand loans.
Magyar Bank also provides non-deposit investment products and financial planning services for individual and commercial customers, including insurance products, fixed and variable annuities and retirement plans; and investment securities.
Mazar Bank operates seven branches in New Brunswick, North Brunswick, South Brunswick, Branchburg, Bridgewater and Edison; and a loan office in New Jersey.