Magyar Bancorp, Inc. Announces Fourth Quarter and Year End Financial Results: EPS of $0.68

Magyar Bancorp MGYR, parent company of Magyar Bank, reported today the results of its operations for the three months and year ended September 30, 2010. The Company reported net income of $107,000 for the three months ended September 30, 2010, compared to net income of $101,000 for the three months ended September 30, 2009. The Company reported net income for the year ended September 30, 2010 of $3.9 million, compared to a net loss of $6.1 million for the year ended September 30, 2009.