What changed in this filing

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Item 9A. Controls and Procedures

2025-12-19 compared with 2024-12-19 · 82 added, 92 removed, 65 unchanged (73% of the section changed)

and Procedures

Controls and Procedures

Disclosure Controls and Procedures

Under the supervision and

with the participation of our management, including our Principal Executive Officer and Principal Financial Officer, we evaluated the

effectiveness of the design and operation of our disclosure controls and procedures (as defined in Rule 13a-15(e) under the Securities

Exchange Act of 1934) as of the end of the period covered by this report.

Based upon that evaluation, the Principal Executive Officer

and Principal Financial Officer concluded that, as of the end of the period covered by this report, our disclosure controls and procedures

were effective.

Changes in Internal Control

the supervision and with the participation of our management, including our Principal Executive Officer and Principal Financial Officer,

we evaluated the effectiveness of the design and operation of our disclosure controls and procedures (as defined in Rule 13a-15(e) under

the Securities Exchange Act of 1934) as of the end of the period covered by this report.

Based upon that evaluation, the Principal Executive

Officer and Principal Financial Officer concluded that, as of the end of the period covered by this report, our disclosure controls and

procedures were effective.

in Internal Control over Financial Reporting

has been no change in Magyar Bancorp, Inc.’s internal control over financial reporting during Magyar Bancorp, Inc.’s fourth quarter of

fiscal year 2025 that has materially affected, or is reasonably likely to materially affect, Magyar Bancorp, Inc.’s internal control

over financial reporting.

There has been no change in

Magyar Bancorp, Inc.'s internal control over financial reporting during Magyar Bancorp, Inc.'s fourth quarter of fiscal year 2024 that

has materially affected, or is reasonably likely to materially affect, Magyar Bancorp, Inc.'s internal control over financial reporting.

Report by Management on Internal

Control over Financial Reporting

The management of Magyar Bancorp,

by Management on Internal Control over Financial Reporting

management of Magyar Bancorp, Inc.

is responsible for establishing and maintaining adequate internal control over financial reporting.

Magyar Bancorp Inc.'s internal

control system was designed to provide reasonable assurance to the Magyar Bancorp, Inc.'s management and board of directors regarding

the preparation and fair presentation of published financial statements.

All internal control systems,

no matter how well designed, have inherent limitations.

Therefore, even those systems determined to be effective can provide only reasonable

assurance with respect to financial statement preparation and presentation.

Magyar Bancorp, Inc.'s management

assessed the effectiveness of the Company's internal control over financial reporting as of September 30, 2024.

In making this assessment,

it used the criteria set forth by the Committee of Sponsoring Organizations of the Treadway Commission (COSO) 2013 in Internal Control-Integrated

Based on our assessment, we believe that, as of September 30, 2024, the Company's internal control over financial reporting

was effective based on those criteria.

The Annual Report on Form

10-K does not include an attestation report of the Company's registered public accounting firm regarding internal control over financial

Management's report was not subject to attestation by the Company's registered public accounting firm pursuant to exemption

rules of the Securities and Exchange Commission that permit the Company to provide only management's report in this annual report.

Other Information

Disclosure Regarding Foreign Jurisdictions that Prevent Inspections

Directors, Executive Officers, and Corporate Governance

Magyar Bancorp, Inc.

a Code of Ethics that applies to Magyar Bancorp, Inc.’s principal executive officer, principal financial officer, principal accounting

officer or controller or persons performing similar functions.

The Code of Ethics, and any amendments to and waivers from the Code of

Ethics, will be posted on the Company’s website located at www.magbank.com.

A copy of the Code will be furnished without charge

upon written request to the Secretary, Magyar Bancorp, Inc., 400 Somerset Street, New Brunswick, New Jersey.

Information concerning directors

and executive officers of Magyar Bancorp, Inc.

is incorporated herein by reference from our definitive Proxy Statement related to our

2024 Annual Meeting of Stockholders (the “Proxy Statement”), specifically the section captioned “Proposal I - Election

of Directors.”

Executive Compensation

Information concerning executive

compensation is incorporated herein by reference from our Proxy Statement, specifically the section captioned “Proposal I - Election

Magyar Bancorp Inc.’s internal control system was designed to provide reasonable assurance to the Magyar Bancorp, Inc.’s management and

board of directors regarding the preparation and fair presentation of published financial statements.

internal control systems, no matter how well designed, have inherent limitations.

Therefore, even those systems determined to be effective

can provide only reasonable assurance with respect to financial statement preparation and presentation.

Bancorp, Inc.’s management assessed the effectiveness of the Company’s internal control over financial reporting as of September 30,

In making this assessment, it used the criteria set forth by the Committee of Sponsoring Organizations of the Treadway Commission

2013 in Internal Control-Integrated Framework.

Based on our assessment, we believe that, as of September 30, 2025, the Company’s internal

control over financial reporting was effective based on those criteria.

Annual Report on Form 10-K does not include an attestation report of the Company’s registered public accounting firm regarding internal

control over financial reporting.

Management’s report was not subject to attestation by the Company’s registered public accounting firm

pursuant to exemption rules of the Securities and Exchange Commission that permit the Company to provide only management’s report in

this annual report.

Regarding Foreign Jurisdictions that Prevent Inspections

Executive Officers, and Corporate Governance

Bancorp, Inc.

has adopted a Code of Ethics that applies to Magyar Bancorp, Inc.’s principal executive officer, principal financial

officer, principal accounting officer or controller or persons performing similar functions.

The Code of Ethics, and any amendments to

and waivers from the Code of Ethics, will be posted on the Company’s website located at www.magbank.com.

A copy of the Code will

be furnished without charge upon written request to the Secretary, Magyar Bancorp, Inc., 400 Somerset Street, New Brunswick, New Jersey.

concerning directors and executive officers of Magyar Bancorp, Inc.

is incorporated herein by reference from our definitive Proxy Statement

related to our 2025 Annual Meeting of Stockholders (the “Proxy Statement”), specifically the section captioned “Proposal

I - Election of Directors.”

concerning executive compensation is incorporated herein by reference from our Proxy Statement, specifically the section captioned “Proposal

I - Election of Directors.”

Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

concerning security ownership of certain owners and management is incorporated herein by reference from our Proxy Statement, specifically

the sections captioned “Security Ownership of Certain Beneficial Owners and Management” and “Proposal I - Election

of Directors.”

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Information concerning security

ownership of certain owners and management is incorporated herein by reference from our Proxy Statement, specifically the sections captioned

“Security Ownership of Certain Beneficial Owners and Management” and “Proposal I - Election of Directors.”

Certain Relationships and Related Transactions, and Director Independence

Information concerning relationships

and transactions is incorporated herein by reference from our Proxy Statement, specifically the section captioned “Proposal I -

Election of Directors - Transactions with Certain Related Persons.”

Principal Accountant Fees and Services

Information concerning principal

accountant fees and services is incorporated herein by reference from our Proxy Statement, specifically the section captioned “Proposal

II - Ratification of the Appointment of Independent Registered Public Accountants.”

Relationships and Related Transactions, and Director Independence

concerning relationships and transactions is incorporated herein by reference from our Proxy Statement, specifically the section captioned

“Proposal I - Election of Directors - Transactions with Certain Related Persons.”

Accountant Fees and Services

concerning principal accountant fees and services is incorporated herein by reference from our Proxy Statement, specifically the section

captioned “Proposal II - Ratification of the Appointment of Independent Registered Public Accountants.”

Exhibits and Financial Statement Schedules

5 unchanged sentences

10.1 Form of Employee Stock Ownership Plan (2)

Restated Director Supplemental Retirement Income and Deferred Compensation Agreement for Joseph A.

Yelencsics (4)

10.2 [intentionally omitted]

10.3 [intentionally omitted]

10.4 Restated Director Supplemental Retirement Income and Deferred Compensation Agreement for Thomas Lankey (4)

10 unchanged sentences

2022 Equity Incentive Plan (7)

10.15 Magyar Bank Annual Incentive Plan

19 Insider Trading Policy (10)

10 unchanged sentences

104 Inline XBRL Cover Page Interactive Data File

____________________________

(1) Incorporated by reference to Exhibit 3.1 to the Registration Statement on Form SB-2 of Magyar Bancorp,

333-128392), originally filed with the Securities and Exchange Commission on September 16, 2005, as amended.

(2) Incorporated by reference to the Registration Statement on Form SB-2 of Magyar Bancorp, Inc.

333-128392), originally filed with the Securities and Exchange Commission on September 16, 2005, as amended.

(3) Incorporated by reference to the Annual Report on Form 10-K of Magyar Bancorp, Inc.

(1) Incorporated

by reference to Exhibit 3.1 to the Registration Statement on Form SB-2 of Magyar Bancorp,

333-128392), originally filed with the Securities and Exchange Commission

on September 16, 2005, as amended.

(2) Incorporated

by reference to the Registration Statement on Form SB-2 of Magyar Bancorp, Inc.

333-128392), originally filed with the Securities and Exchange Commission on September 16,

2005, as amended.

(3) Incorporated

by reference to the Annual Report on Form 10-K of Magyar Bancorp, Inc.

filed with the Securities and Exchange Commission on December 20, 2021.

(4) Incorporated by reference to the Annual Report on Form 10-KSB of Magyar Bancorp, Inc.

(4) Incorporated

by reference to the Annual Report on Form 10-KSB of Magyar Bancorp, Inc.

originally filed with the Securities and Exchange Commission on December 29, 2006.

(5) Incorporated by reference to the Company’s Registration Statement on Form S-1 (File No.

(5) Incorporated

by reference to the Company’s Registration Statement on Form S-1 (File No.

filed with the Securities and Exchange Commission on March 15, 2021.

(6) Incorporated by reference to the Current Report on Form 8-K of Magyar Bancorp, Inc.

(6) Incorporated

by reference to the Current Report on Form 8-K of Magyar Bancorp, Inc.

(file no 000-51726),

originally filed with the Securities and Exchange Commission on May 29, 2019.

(7) Incorporated by reference to Appendix A to the Company’s definitive Proxy Statement (file no.

(7) Incorporated

by reference to Appendix A to the Company’s definitive Proxy Statement (file no.

filed with the SEC on July 18, 2022.

(8) Incorporated by reference to Exhibit 3.1 to the Company’s Form 8-K filed on July 12, 2021.

(9) Incorporated by reference to the Annual Report on Form 10-K of Magyar Bancorp, Inc.

(8) Incorporated

by reference to Exhibit 3.1 to the Company’s Form 8-K filed on July 12, 2021.

(9) Incorporated

by reference to the Annual Report on Form 10-K of Magyar Bancorp, Inc.

filed with the Securities and Exchange Commission on December 22, 2022.

Form 10-K Summary

Pursuant to the requirements

of Section 13 or 15 (d) of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf

by the undersigned, thereunto duly authorized.

(10) Incorporated

by reference to the Annual Report on Form 10-K of Magyar Bancorp, Inc.

filed with the Securities and Exchange Commission on December 19, 2024.

to the requirements of Section 13 or 15 (d) of the Securities Exchange Act of 1934, the registrant has duly caused this report to be

signed on its behalf by the undersigned, thereunto duly authorized.

MAGYAR BANCORP, INC.

2 unchanged sentences

(Duly Authorized Representative)

Pursuant to the requirements

of the Securities Exchange Act of 1934, this report has been signed below by the following persons on behalf of the registrant and in

the capacities and on the dates indicated.

to the requirements of the Securities Exchange Act of 1934, this report has been signed below by the following persons on behalf of the

registrant and in the capacities and on the dates indicated.

President and Chief Executive Officer

4 unchanged sentences

(Principal Financial and Accounting Officer)

/s/ Thomas Lankey

Chairman of the Board

1 unchanged sentence

Thomas Lankey

/s/ Andrew Hodulik

Vice Chairman of the Board

1 unchanged sentence

Andrew Hodulik

/s/ Joseph A.

December 19, 2025

/s/ Edward C.

December 19, 2025

/s/ Susan Eisenhauer

December 19, 2024

Susan Eisenhauer

/s/ Michael Lombardi

December 19, 2025

Michael Lombardi

/s/ Maureen Ruane

December 19, 2025

1 unchanged sentence

Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.

What changed 10-K

Item 9A. Controls and Procedures