Magyar Bancorp, Inc. Announces Resignation of Martin A. Lukacs from Board of Directors
February 19, 2022 at 12:17 am IST
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Magyar Bancorp, Inc. announced that director Martin A. Lukacs retired from the Board of Directors pursuant to a provision of the Company's bylaws that requires retirement from the Board at the Annual Meeting immediately following the year in which the Director attains age seventy-five (75).
Magyar Bancorp, Inc. is a bank holding company of Magyar Bank (the Bank). It acts as an independent, community, financial services provider, and offers traditional banking and related financial services to individual, business, and government customers. It offers commercial and retail financial services, including the taking of time, savings, and demand deposits; the making of commercial, consumer and home equity loans; and the provision of other financial services. The Bank invests its deposits, together with funds generated from operations and wholesale funding, in residential mortgage loans, home equity loans, home equity lines of credit, commercial real estate loans, commercial business loans, small business administration (SBA) loans, construction loans and investment securities. It originates consumer loans, which consist primarily of secured demand loans. Its primary sources of funds are deposits, borrowings and principal and interest payments on loans and securities.
MAGYAR BANCORP, INC. 
