Magyar Bancorp reports Q2 EPS 28c vs. 25c last year

Reports Q2 net income $1.8M vs. $1.68M last year. "We are halfway through our fiscal year and are pleased to report continued strong earnings," stated CEO John Fitzgerald. "We’re seeing the benefits of our strong loan growth in the first quarter and have a robust pipeline which we expect will remain strong through the remainder of the year. Despite recent turmoil in the banking industry we grew our deposit base 5% in the first six months. Inflationary pressures and macro-economic conditions remain items we continue to focus on. Our balance sheet is well positioned for the balance of the fiscal year."