UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

 

FORM 8-K

 

CURRENT REPORT

 

PURSUANT TO SECTION 13 OR 15(D) OF

THE SECURITIES EXCHANGE ACT OF 1934

 

Date of Report (Date of earliest event reported): July 5, 2019

 

MAGYAR BANCORP, INC.

(Exact Name of Registrant as Specified in Charter)

 

Delaware  0-51726  20-4154978
(State or Other Jurisdiction  (Commission File No.)  (I.R.S. Employer
of Incorporation)     Identification No.)

 

400 Somerset Street, New Brunswick, New Jersey  08901
(Address of Principal Executive Offices)  (Zip Code)

 

Registrant's telephone number, including area code:   (732) 342-7600

 

Not Applicable

(Former name or former address, if changed since last report)

 

Securities registered pursuant to Section 12(b) of the Act:

 

Title of each class  

Trading

Symbol(s)

  Name of each exchange on which registered
Common Stock, par value $0.01 per share   MGYR   The NASDAQ Stock Market, LLC

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

 

¨Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

¨Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

¨Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

¨Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

 

Emerging growth company ¨

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨

 

 

 

 

 

 

Item 5.02Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

 

Effective July 5, 2019, Brian Stanley, who has served as Senior Vice President and Chief Lending Officer of Magyar Bancorp and Bank, has retired.

 

 

Item 7.01Regulation FD Disclosure.

 

On July 8, 2019, Magyar Bancorp announced that Peter M. Brown has been named Chief Lending Officer of Magyar Bank. The press release issued by the Company announcing the appointment is included as Exhibit 99.1 to this Current Report.

 

 

Item 9.01Financial 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.

 

 

Exhibit No.Description

 

99.1Press Release, Dated July 8, 2019, Announcing the Appointment of Peter M. Brown as Chief Lending Officer of Magyar Bank.

 

 

 

 

SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, hereunto duly authorized.

 

  MAGYAR BANCORP, INC.  
       
       
       
DATE: July 8, 2019 By: /s/ John S. Fitzgerald  
    John S. Fitzgerald  
    President and Chief Executive Officer  

 

 

 

 

Exhibit 99.1

 

 

 

 

 

 

 

News

 

 

400 Somerset Street, New Brunswick, NJ 08901

732.342.7600

 

Magyar Bank Announces New Chief Lending Officer

 

New Brunswick, NJ—July 8, 2019—Magyar Bank announced today that Peter M. Brown, Manasquan, NJ, has been named as Chief Lending Officer. Mr. Brown has over thirty years’ experience in the Banking Industry, and has been with Magyar Bank for six years as Vice President, Commercial Lending Officer. Prior to joining Magyar Bank, Mr. Brown served as President/CEO of Manasquan Savings Bank. Mr. Brown is a graduate of Widener University and is an active member of the community, volunteering for several organizations including Coastal Habitat for Humanity and is Past President of the Spring Lake Rotary and Past Treasurer and Director of Monmouth Ocean Development Council “MODC”.

 

About Magyar Bank
Magyar Bank, headquartered in New Brunswick, New Jersey, is the principal subsidiary of Magyar Bancorp (NASDAQ: MGYR), and is a $665 million asset community bank. Magyar Bank has been serving families and businesses in Central New Jersey since 1922 with a complete line of financial products and services, and today Magyar operates branch locations in Branchburg, Bridgewater, Edison, New Brunswick, North Brunswick and South Brunswick. Visit Magyar online at www.magbank.com

 

Contact: John Reissner, 732.342.7600

 

###