Overview / Commentary
Magyar Bank was founded in 1922 by a group of Hungarian immigrants and businessmen looking for a bank to help them achieve the American Dream. The name "Magyar" is the Hungarian word to describe an individual from Hungary. Over the years, the bank has moved beyond serving this original group, but Magyar is still about achieving dreams—whether those dreams are homeownership, business growth, educating a child, or community and business development. Magyar remains committed to its shareholders, customers, and communities.
Health
A
Data as of Q2 2024
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| FDIC Certificate # | 30704 |
| Year Established | 1922 |
| Employees | 106 |
| Primary Regulator | FDIC |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 0.87% |
| Return on Equity - YTD | 8.02% |
| Annual Interest Income | $24.4MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q2 2024vs Q2 2023 | $943.9MM$857.2MM |
| Loans | Q2 2024vs Q2 2023 | $751.7MM$693.3MM |
| Deposits | Q2 2024vs Q2 2023 | $796.9MM$703.7MM |
| Equity Capital | Q2 2024vs Q2 2023 | $102.5MM$93.2MM |
| Loan Loss Allowance | Q2 2024vs Q2 2023 | $7.7MM$8.4MM |
| Unbacked Noncurrent Loans | Q2 2024vs Q2 2023 | $4.6MM$3.6MM |
| Real Estate Owned | Q2 2024vs Q2 2023 | $842K$292K |