MGYR Profile
Magyar Bancorp, Inc., headquartered in New Brunswick, New Jersey, operates as the holding company for Magyar Bank, serving a broad spectrum of customers including individuals, businesses, and nonprofit organizations across New Jersey, United States. Established in 1922, Magyar Bank offers a comprehensive range of consumer and commercial banking services. These include various deposit accounts such as demand, savings, NOW, money market, retirement accounts, and certificates of deposit, catering to diverse financial needs.
The bank distinguishes itself through its robust lending portfolio, which encompasses residential mortgage loans, multi-family and commercial real estate mortgage loans, home equity loans, lines of credit, commercial business loans, construction loans, and small business administration loans. Magyar Bank's commitment to supporting local communities is underscored by its provision of non-deposit investment products, financial planning services, insurance products, fixed and variable annuities, and retirement planning solutions for individual and commercial customers.
In addition to its comprehensive banking and lending services, Magyar Bancorp engages in the buying, selling, and holding of investment securities to optimize its financial operations. The company maintains a strong presence with seven branch offices strategically located in key New Jersey cities including New Brunswick, North Brunswick, South Brunswick, Branchburg, Bridgewater, and Edison, facilitating convenient access to its range of financial products and services.
As a subsidiary of Magyar Bancorp, MHC, Magyar Bancorp, Inc. upholds a legacy of stability and customer-centric banking practices. With a focus on personalized service and community involvement, the company continues to expand its footprint and enhance its offerings, ensuring it remains a trusted financial partner for both individual and business clients throughout New Jersey.
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