On September 22, 2022, the Board of Directors of Magyar
Bancorp, Inc. (the “Company”) elected Susan Eisenhauer, Michael F. Lombardi and Maureen Ruane to serve as Directors of the
Company. Ms. Eisenhauer and Ms. Ruane were each elected to serve as a member of the class of Directors whose terms expire following the
fiscal year ending September 30, 2022. Mr. Lombardi was elected to serve as a member of the class of Directors whose terms expire following
the fiscal year ending September 30, 2023.
None of the individuals was elected as a Director pursuant
to any arrangement or understanding between the individual and any other person.
None of Ms. Eisanhauer, Mr. Lombardi nor Ms. Ruane
is a party to any transac tion with the Company or its subsidiary, Magyar Bank,that would require disclosure under Item 404(a) of Securities
and Exchange Commission Regulation S-K.
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: September 23, 2022
/s/ John S. Fitzgerald
John S. Fitzgerald
President and Chief Executive Officer
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