Magyar Bancorp Inc
For the period ended Sep 30, 2024. Filed Dec 19, 2024.
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FY2024 · Filed Dec 19, 2024
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Item 2. Properties
| ITEM 2. | Properties |
The following table provides certain information with respect to our offices as of September 30, 2024:
| Leased or | Original Year | Year of | |
|---|---|---|---|
| Location | Owned | Leased or Acquired | Lease Expiration |
| Main Office: | |||
| 400 Somerset Street | Owned | 2005 | — |
| New Brunswick, New Jersey, 08901 | |||
| Full - Service Branches: | |||
| 3050 State Route 27 | Owned | 1969 | — |
| Kendall Park, New Jersey, 08824 | |||
| 596 Milltown Road | Leased | 2002 | 2031 |
| North Brunswick, New Jersey, 08902 | |||
| 1000 Route 202 South | Leased | 2006 | 2031 |
| Branchburg, New Jersey, 08876 | |||
| 475 North Bridge Street | Leased | 2010 | 2024 |
| Bridgewater, New Jersey, 08807 | |||
| 1167 Inman Avenue | Leased | 2011 | 2026 |
| Edison, New Jersey, 08820 | |||
| 1199 Amboy Avenue | Leased | 2017 | 2027 |
| Edison, New Jersey, 08837 | |||
| 1990 Washington Valley Road | Leased | 2024 | 2029 |
| Martinsville, New Jersey, 08836 | |||
The net book value of our premises, land and equipment was approximately $12.5 million and $13.3 million at September 30, 2024 and 2023, respectively.
For information regarding Magyar Bancorp, Inc.’s investment in mortgages and mortgage-related securities, see “Item 1. Business” herein.
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.