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Magyar Bancorp, Inc. operates as the bank holding company for Magyar Bank, which provides various banking products and services in New Jersey. The companys deposit products include demand accounts, savings accounts, now accounts, money market accounts, certificates of deposit, and retirement accounts. Its loan portfolio comprises residential mortgage loans, commercial real estate loans, construction loans, commercial business loans, home equity lines of credit, and consumer loans. The company also provides non-deposit investment products and financial planning services, including insurance products, fixed and variable annuities, and retirement planning for individual and commercial customers. As of September 30, 2009, it operated five branch offices, including two in New Brunswick, and one each in North Brunswick, South Brunswick, and Branchburg, New Jersey. The company was founded in 1922 and is headquartered in New Brunswick, New Jersey. Magyar Bancorp, Inc. is a subsidiary of Magyar Bancorp, MHC.
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