MagyarBank Charitable Foundation Awards $29,500 to Various Central New Jersey Non-Profit Organizations

New Brunswick, NJ— October 22, 2024 — The MagyarBank Charitable Foundation recently awarded $29,500 in grants to thirteen non-profit organizations serving the Central New Jersey region. Awarded funds will be used to support and improve the lives of local residents. The Foundation provides grants to programs supporting education, affordable housing, youth programs and health and human services.

The following organizations received an award from the MagyarBank Charitable Foundation:

FISH Inc., Piscataway, NJ- $2,000 to help support the rebuild of Friendship Hall after an unexpected fire.

Jewish Family Services of Middlesex County, North Brunswick, NJ - $2,500 in support of their two kosher food pantries for home bound senior adults.

Little Servant Sisters St. Joseph's Senior Home, Woodbridge, NJ- $2,500 purchase equipment for the residents of St. Josephs Senior Nursing Home that will assist with the posture and positioning of our residents who need this type of support. 

Raritan Valley Habitat for Humanity, Pluckemin, NJ- $2,500 to help attain affordable property, building materials, and services like educating all homeownership applicants.

SCORE Princeton/Central Jersey, Princeton, NJ- $1,000 to help support administrative costs, marketing costs and office expenses.

Soup Kitchen 411, Bethlehem, PA- $2,500 in support of a trial program for distributing nutritional bars through select food pantries across NJ. 

State Theatre New Jersey, New Brunswick, NJ- $3,000 in support of their annual Seasonal Classic Celebration.

St. John the Evangelist Church, Dunellen, NJ- $2,500 to support their food pantry which provides assistance to those in need in the community.  

Town Clock CDC, New Brunswick, NJ- $2,500 Case Manager Program that aims to strengthen residents skills, self-image and help them heal. 

Triple C Housing- North Brunswick, NJ- $5,000 in support of the pop up pantry established in 2021 for families at Pennrose Truman Square residential housing development.

Women Aware, New Brunswick, NJ- $1,000 to help increase victim safety, and reduce barriers to services by providing clients with the protection and services they need to pursue safe and healthy lives. 

YMCA MEWSA, Metuchen, NJ- $2,500 in support of the Teen Leaders Club, a free leadership development and community service program which helps teens discover their full potential.

Magyar Bank Annouces Grand Opening of Martinsville Location

New Brunswick, NJ – October 11, 2024-Magyar Bank is pleased to announce the Grand Opening of its newest branch at 1990 Washington Valley Road in Martinsville. To celebrate this occasion, Magyar Bank will hold a special celebration October 18 and 19, as well as hold in-branch contests to win prizes including tickets to a New Jersey Devils game, and gift certificates to local restaurants and businesses.

Grand Opening Celebration – October 18 & 19
Magyar Bank is opening the new branch in style with an open house on Friday, October 18 from 10am – 5p and Saturday, October 19 from 9am – 12pm. Guests can spin the Magyar prize wheel to win free Magyar swag, and a chance to enter the Magyar Money Machine. Refreshments will be available on both days.
Guests may also enter our contests for tickets to an upcoming New Jersey Devils game, and gift certificates to local restaurants and businesses. Entry forms will be available in the branch.

Pumpkin Decorating Contest
The Martinsville Office will also be giving away free pumpkins while supplies last for children ages 3-12 for the pumpkin decorating contest. There will be two judging categories, one for children 3-6 and the other for 7-12 year-olds, and one winner from each category will win a $50 gift card!
The pumpkin decorating contest is valid at the Martinsville branch only, and there is no purchase necessary to enter or win. Pumpkins will be available on a first come, first served basis, and all decorated pumpkins must be returned by October 26 to be eligible for the contest. For more information, contact the Martinsville branch directly at 732-805-1895, visit www.magbank.com, or stop by at 1990 Washington Valley Road in Martinsville, next to the Martinsville post office.

About Magyar Bank
Magyar Bank, headquartered in New Brunswick, New Jersey, is the principal subsidiary of Magyar Bancorp (NASDAQ: MGYR), and is a $944 million asset community bank. Magyar Bank has been serving families and businesses in Central New Jersey since 1922 with a complete line of financial products and services. Visit Magyar online at www.magbank.com

MAGYAR BANCORP, INC. APPOINTS MICHAEL R. LOMBARDI AS DIRECTOR

New Brunswick, New Jersey, July 25, 2024 – Magyar Bancorp (NASDAQ: MGYR) (“Company”), parent company of Magyar Bank, announced that Michael R. Lombardi was elected to serve as Director of the Company on July 25, 2024. Mr. Lombardi will serve as a member of the class of Directors whose term expires following the fiscal year ending September 30, 2026.

“As an Associate with Lombardi & Lombardi, P.A. based in Edison, New Jersey. Mr. Lombardi’s knowledge of the local market will be a tremendous asset to the Bank,”stated John Fitzgerald, President and Chief Executive Officer of Magyar Bancorp. “In addition, Mike’s experience as an attorney will bring to the Board a unique and valuable perspective on legal and legal-related issues that may arise in the operations of the Bank and the Company.”

Magyar Bancorp Named to 2024 KBW Bank Honor Roll

New Brunswick, NJ—June 4, 2024—Magyar Bancorp, Inc. (Nasdaq: MGYR), the parent company of Magyar Bank, was recently recognized by KBW as a member of their 2024 Bank Honor Roll, comprising 18 elite, high-performing Banks with the strongest and/or most consistent earnings growth over the past decade. The KBW Bank Honor Roll is published by Keefe, Bruyette & Woods, Inc., a leading investment bank specializing in the financial services industry.
“We are honored to be recognized as one of KBW’s top performing banks,” stated John Fitzgerald, President and CEO of Magyar Bank. “Magyar’s community banking strategy has provided consistently strong growth and a positive return for our shareholders. The successful execution of this strategy is a testament to the dedication of our team of bankers, and further solidifies our leadership role in the communities we serve.”

About Magyar Bancorp
Magyar Bancorp is the parent company of Magyar Bank, a community bank headquartered in New Brunswick, New Jersey. Magyar Bank has been serving families and businesses in Central New Jersey since 1922 with a complete line of financial products and services. Magyar operates branch locations in Branchburg, Bridgewater, Edison, New Brunswick, North Brunswick and South Brunswick.

MagyarBank Charitable Foundation Grants $36,200 to 11 Non-Profit Organizations

New Brunswick, NJ— April 19, 2024 — The MagyarBank Charitable Foundation recently awarded $36,200 in grants to eleven non-profit organizations serving the Central New Jersey region. Awarded funds will be used to support and improve the lives of local residents. The Foundation provides grants to programs supporting education, affordable housing, youth programs and health and human services.

The following organizations received an award from the MagyarBank Charitable Foundation:

Center for Great Expectations - Somerset, NJ- $2,500.00 to help support the Pregnant & Parenting Residential Programs Early Relational Health Counseling Program.
Central Jersey Housing Resource Center - Somerville, NJ- $5,000.00 to support programs including pre-purchase, financial literacy, and foreclosure counseling.
Elijah's Promise- New Brunswick, NJ- $2,500.00 to continue their vital work in the Central New Jersey community.
First Tee Raritan Valley- Kenilworth, NJ- $3,000.00 to support ACE program; a capstone program built for teens.
Hark - Girls on the Run- Hillsborough, NJ- $1,000.00 to support their 8 week GOTR program for girls in 3-8 grade.
JCC Middlesex County- Edison, NJ- $7,200.00 to incorporate a wider aray of lectures, experiential opportunities, musical perdormances, trips and discussion groups for adults in the community.
Middlesex College Foundation- Edison, NJ- $1,500.00 to aid students with financial aid, scholarships and educational resources.
Meals on Wheels Greater New Brunswick- New Brunswick, NJ- $2,500.00 to support initiatives aimed at tackling food insecurity and promoting social and health well-being.
New Brunswick Education Foundation - New Brunswick, NJ- $5,000.00 to support their Innovative Teacher Grants for Excellence Program. 
New Brunswick Health Sciences Technology High School- New Brunswick, NJ- $5,000.00 to support their scholarship awards program.
Raritan Valley YMCA- East Brunswick, NJ- $2,000.00 to support 50 kids to learn how to swim and understand the importance of water safety.

Magyar Bank Announces New Hire

New Brunswick, NJ – November 29, 2023 - Magyar Bank has announced that David Heinmets, of Ocean Township, recently joined the Bank as Vice President, Commercial Loan Officer. Mr. Heinmets will be based in the Bank’s Headquarters building in New Brunswick and has over 30 years of banking experience. Most recently, Mr. Heinmets was Commercial Lender with ConnectOne Bank and is a graduate of King’s College. 

Magyar Bank Distributes $50,000 in Grants from Federal Home Loan Bank of New York (FHLBNY)

New Brunswick, NJ—November 16, 2023 – Magyar Bank announced today that it has distributed $50,000 in grant funding provided by the Federal Home Loan Bank of New York Small Business Recovery Grant Program. The program allowed the Bank to support the financial security of local businesses and non-profit organizations throughout central New Jersey that have faced economic challenges as a result of supply chain constraints, inflation concerns, rising energy costs and the rapid rise in interest rates. Twenty organizations received funding from this program.

“Magyar Bank is pleased to provide this assistance to so many organizations in our area,” stated John Fitzgerald, President and Chief Executive Officer. “Businesses and non-profits are faced with higher costs on everything they need to run their operations, and through this additional funding from the FHLBNY, we are pleased to provide critical support and relief to small businesses and nonprofits that are a significant part of our region’s economy. The Small Business Recovery Grant Program provided an additional $5 million in funding to Federal Home Loan Bank of New York members’ who in turn provide grants to small businesses and non-profit organizations.

About Magyar Bank

Magyar Bank, headquartered in New Brunswick, New Jersey, is the principal subsidiary of Magyar Bancorp (NASDAQ: MGYR), and is a $907 million asset community bank. Magyar Bank has been serving families and businesses in Central New Jersey since 1922 with a complete line of financial products and services, and today Magyar operates branch locations in Branchburg, Bridgewater, Edison, New Brunswick, North Brunswick and South Brunswick. Visit Magyar online at www.magbank.com Contact: John Reissner, 732.342.7600 ext. 130

Magyar Bank’s Ryan Read Recognized by New Jersey Bankers as Rising Star in Banking

New Brunswick, NJ—November 3, 2023—Magyar Bank is proud to announce that Ryan Read, senior BSA analyst, is a recipient of the 2023 New Jersey Bankers Association’s Rising Star Award. Mr. Read received this honor in recognition of his contributions to the Banking industry, community involvement and impact on the financial institution they work for. Mr. Read was one of twenty two bankers recognized by the New Jersey Bankers Association at their Rising Star Gala held recently at the Stirling House in Warren, NJ.
Mr. Read has been with Magyar Bank since 2022 when he joined the Bank in his current role.

“Since joining Magyar Bank, Ryan has embraced Magyar’s approach to community banking,” stated John Fitzgerald, president and chief executive officer of Magyar Bank. “His strong work ethic, eagerness to learn, and willingness to get involved in the community makes him a tremendous asset to the Bank.”
Magyar Bank Distributes $50,000 in Grants from Federal Home Loan
Bank of New York (FHLBNY)

About Magyar Bank
Magyar Bank is a subsidiary of Magyar Bancorp (NASDAQ: MGYR), and is a $907 million asset community bank headquartered in New Brunswick, New Jersey. Magyar Bank has been serving families and businesses in Central New Jersey since 1922 with a complete line of financial products and services, and today Magyar operates branch locations in Edison, New Brunswick, North Brunswick, South Brunswick, Bridgewater and Branchburg. Visit Magyar online at www.magbank.com. Media Contact: John Reissner, 732.342.7600

MagyarBank Charitable Foundation Passes $1 Million Mark in Grants Distributed Since Inception

New Brunswick, NJ— October 23, 2023 — The MagyarBank Charitable Foundation eclipsed the $1 million mark after recently awarding $23,100 in grants to nine non-profit organizations serving the Central New Jersey region. Awarded funds will be used to support and improve the lives of local residents. The Foundation provides grants to programs supporting education, affordable housing, youth programs and health and human services.

The following organizations received an award from the MagyarBank Charitable Foundation:

B.P.O.Elks Somerville 1068- Bridgewater, NJ- $1,500.00 to help support the Special Children’s Committee and Camp Moore.
HomeSharing Inc. - Bridgewater, NJ- $2,500.00 to help create affordable housing solutions for the community.
Jewish Family Service Middlesex- North Brunswick, NJ- $2,500.00 to support the Kosher Meals on Wheels and the Congregate Senior Meal Program for homebound senior adults.
Lower Raritan Watershed Partnership- New Brunswick, NJ- $2,500.00 to support the Rowing on the Raritan Boat Building program.
New Jersey Federation of Women’s Clubs- New Brunswick, NJ- $2,500.00 to support for the Girls Career Institute College Experience.
SCORE Princeton- Princeton, NJ- $1,000.00 to support the organizations operating needs.
Triple C Housing- North Brunswick, NJ- $5,000.00 to support the Pop up Pantry for families at Pennrose Truman Square.
YMCA MEWSA- Metuchen, NJ- $2,500.00 to support the Teen Leaders Club at the YMCA.
Town Clock Community Development Corporation- New Brunswick, NJ- $2,500.00 to fund the ongoing case management program

“The MagyarBank Charitable Foundation is dedicated to supporting organizations that provide educational, affordable housing and youth programs as well as health and human services,” stated John Reissner, President of the MagyarBank Charitable Foundation. “In addition to the grants provided by the Foundation which now exceed $1 million since the Foundation’s start, Magyar employees donate hundreds of hours each year, volunteering their time to further support these worthy organizations. We are proud to be a part of this community, and provide support to these organizations so that they may further their initiatives which are aligned with the Foundation’s vision.”

MagyarBank Charitable Foundation Awards $31,781 to Various Central New Jersey Non-Profit Organizations

New Brunswick, NJ—April 7, 2023 — The MagyarBank Charitable Foundation recently awarded $31,781 in grants to eleven non-profit organizations serving the Central New Jersey region. Awarded funds will be used to support and improve the lives of local residents. The Foundation provides grants to programs supporting education, affordable housing, youth programs and health and human services.

The following organizations received an award from the MagyarBank Charitable Foundation:

CASA of Middlesex County – New Brunswick, NJ - $2,500 awarded to fund and support volunteer recruitment efforts to increase the number of children served in their programs.
Central Jersey Housing Resource Center – Somerville, NJ - $5,000 to fund and support their 2023 programs assisting low and moderate income families with the purchase of their first home.
Embrace Kids Foundation – New Brunswick, NJ - $2,500 to help fund and support their RU4kids program that provides tutoring, patient advocacy and other programs for pediatric patients.
Middlesex College Foundation – Edison, NJ - $1,000 to help fund and support scholarships for students
Reconnect Hungary – New Brunswick, NJ - $1,000 to fund the Hungarian birthright program for young adults to understand the meaning of their heritage and importance in New Jersey.
New Brunswick Health Sciences Technology High School – New Brunswick, NJ - $5,000 to help support their scholarship awards program
The Midland School – North Branch, NJ - $2,281.45 to purchase a Square Panda classroom literacy subscription with playsets for their students.
Raritan Valley Habitat for Humanity – Pluckemin, NJ - $2,500 to renovate an affordable home in Franklin, NJ and prepare to break ground for a home to be built for a Veteran in Somerville.
Caritas Program at Holy Family Parish – North Brunswick, NJ - $2,500 for their community food garden which brings healthy food alternatives to low and moderate income families in the community.
Brain Injury Alliance of New Jersey – North Brunswick, NJ - $5,000 to support their annual gala which raises funds for the programs conducted annually helping individuals with brain injury and their caregivers maximize their quality of life.
New Brunswick Education Foundation – New Brunswick, NJ - $2,000 to support Innovative Teacher Grants for Exellence Program that provides grants and technical support to district teachers.

“The MagyarBank Charitable Foundation is dedicated to supporting organizations that provide educational, affordable housing and youth programs as well as health and human services,” stated John Reissner, President of the MagyarBank Charitable Foundation. “We are pleased to present grants to these organizations so that they may further their initiatives which support the Foundation’s vision.”

The MagyarBank Charitable Foundation was established in 2006 by Magyar Bank, a community bank headquartered in New Brunswick, New Jersey. Magyar Bank is the principal subsidiary of Magyar Bancorp (NASDAQ: MGYR). To apply for a grant, applicants are asked to visit www.magbank.com to download an application. Applications with supporting documentation should be sent to MagyarBank Charitable Foundation, c/o Magyar Bank, 400 Somerset St., New Brunswick, NJ 08901. For more information about the MagyarBank Charitable Foundation, call 732-342-7600 or visit www.magbank.com.

Magyar Bancorp Announces Appointment of Three New Directors

New Brunswick, NJ—December 13, 2022—Magyar Bancorp, Inc., parent company of Magyar Bank, is pleased to announce that Susan Eisenhauer, Michael Lombardi, and Maureen Ruane were appointed to the Board of Directors of Magyar Bancorp, and Magyar Bank.

Ms, Eisenhauer is currently retired. She served as Managing Director with Deloitte Tax, LLP from 2001 -2017, specializing in international tax and transfer pricing for multi-national enterprises. She worked in the field of corporate international tax for 37 years, both in-house and as an outside advisor. Ms. Eisenhauer also served as Walk Manager for National Alliance on Mental Illness (NAMI) from 2019-2021, responsible for fund raising and project management for the non-profit organization. A resident of Boonton, Ms. Eisenhauer’s financial expertise and business background will bring valuable experience to the Company and the Bank in dealing with financial reporting and regulations. Ms. Eisenhauer graduated with a B.A. from Muhlenberg College, a J.D. from Fordham Law School, where she served as Editor-in-Chief of the Fordham International Law Journal, and an L.L.M. in Taxation from NYU School of Law.

Mr. Lombardi is President and Senior Attorney with Lombardi & Lombardi, P.A. based in Edison, New Jersey. He is also currently a Director with Chef’s International and is a managing member of several real estate holding companies and a residential construction company. Mr. Lombardi previously served on the Boards of Enterprise Bank and SB One Bank. A resident of Edison, Mr. Lombardi’s prior experience with Bank Boards, combined with his knowledge of the local market and business acumen, will enhance the Board’s objective of maintaining a membership of experienced and dedicated individuals with diverse backgrounds, perspectives, skills and other qualities that are beneficial to the Company, and the Bank.

Ms. Ruane currently works for New Jersey Community Solutions, LLC, and previously served as Business Administrator for the Township of Edison. A resident of Caldwell, Ms. Ruane’s knowledge of the Bank’s local market, financial acumen and strong connections within central New Jersey will further strengthen the Board’s objective of maintaining a membership of experienced and dedicated individuals with diverse backgrounds, perspectives, skills and other qualities that are beneficial to the Company, and the Bank.

Commenting on the new appointments, Magyar Bank Board Chairman Tom Lankey stated, “We are pleased to welcome Susan, Michael and Maureen to the Magyar Board. Each of them are well connected within the communities we serve, and have the professional and business acumen that will further strengthen the Board’s objective of maintaining a membership of experienced and dedicated individuals with diverse backgrounds, perspectives, skills and other qualities that are beneficial to the Company, and the Bank.”

MagyarBank Charitable Foundation Awards $30,000 to Various Central New Jersey Non-Profit Organizations

New Brunswick, NJ—November 8, 2022 — The MagyarBank Charitable Foundation recently awarded $30,000.00 in grants to eleven non-profit organizations serving the Central New Jersey region. Awarded funds will be used to support and improve the lives of local residents. The Foundation provides grants to programs supporting education, affordable housing, youth programs and health and human services.

The following organizations received an award from the MagyarBank Charitable Foundation:NJ State Federation of Women's Club

Churches Improving Communities, Hyland Park, NJ – $2,500 awarded to help fund and support New Jersey Interfaith Center for Cancer’s mission of addressing the spiritual, emotional, social and practical needs of under-resourced individuals dealing with cancer in central NJ.

Damon House, Inc., New Brunswick, NJ - $2,500 awarded to help fund the purchase of a commercial dishwasher and cost of training for incoming clients interested in obtaining employment in the food service industry.

Elijah’s Promise, New Brunswick, NJ - $2,500 awarded to help fund and support all the food systems programs particularly the emergency feeding and services programs which has been greatly magnified due to the pandemic.

Greater Somerset County YMCA, Basking Ridge, NJ - $2,500 awarded to help fund their food security program that provides weekend snacks and meals for children whose families struggle with food insecurity.

The Hugs for Brady Foundation, Kendall Park, NJ - $2,500.00 to help fund some of the general operating expenses of their programs that help children with childhood cancer.

Jewish Community Center of Middlesex County, Edison, NJ - $2,500 to help fund and support the expansion of their special needs programs for children and teens with Autism Spectrum Disorder.

Meals on Wheels of Greater New Brunswick, New Brunswick, NJ - $2,500 awarded to help fund and support the expansion of their Adult with Disabilities Meals on Wheels Program for adults with disabilities that have no meal support and are unable to provide meals for themselves.

New Jersey State Federation of Women’s Club (NJSFWC), New Brunswick, NJ - $2,500 awarded to help fund and support NJSFWC’s Girls Career Institute that provides a 4-day mini college experience for high school junior girls.Triple C Housing

Triple C Housing, Inc., North Brunswick, NJ - $5,000 awarded to continue funding a pop-up pantry established in 2021 for families at Pennrose’s Truman Square residential housing development providing residents with access to basic non-perishable foods, toiletries and school supplies.

Who is My Neighbor, Inc. (WIMNI), Highland Park, NJ - $2,500 awarded to help fund and support WIMNI’s “The Cave Afterschool Program.”

Women Aware, New Brunswick, NJ - $2,500 awarded to help fund the expansion of services to meet the needs of those affected by domestic violence in Middlesex County.

“The MagyarBank Charitable Foundation is committed to offering support to those who need it most,” stated John Reissner, President of the MagyarBank Charitable Foundation. “And we look forward to the meaningful and long-term impact these local organizations will create in the communities we serve.”

Magyar Bancorp Announces Record Earnings

New Brunswick, NJ - November 3, 2022 – Magyar Bancorp (NASDAQ: MGYR) parent company of Magyar Bank, reported today a 29% increase in its net income for the year ended September 30, 2022. The Company reported net income of $7,919,000 for the year ended September 30, 2022 compared with $6,120,000 for the year ended September 30, 2021.

“We are very pleased to report record earnings for the second consecutive year”, stated John Fitzgerald, President and Chief Executive Officer. “The successful deployment of the capital raised in our 2nd step conversion in 2021 produced strong loan growth for the Bank during the year. Combined with our prudent balance sheet management, which resulted in a year over year increase in our net interest margin, earnings growth was driven by core bank earnings and increased our fiscal year return on average assets to 1.00%.”

Mr. Fitzgerald continued, “As we look ahead to our next fiscal year, inflation and its impact on the economy will need to be closely monitored, but we are encouraged to see our loan pipeline remain strong and will continue maintaining strong underwriting standards.”

Middlesex County Board Commissioners Recognize Magyar Bank with Corporate Hunger Hero Award

New Brunswick, NJ – September 8, 2022

To acknowledge this special honor, the Board of County Commissioners of Middlesex County presented Magyar Bank with a resolution in recognition of the Bank’s accomplishments and contributions to both REPLENISH and Feeding Middlesex County. Included in the group of attendees were Middlesex County Commissioner, Claribel A. Azcona-Barber, Middlesex County Commissioner, Charles Tomaro, Director of REPLENISH, Jennifer Apostol and Magyar Bank President and Chief Executive Officer, John Fitzgerald among other Middlesex County representatives. Magyar Bank will also be recognized for this achievement at the Feeding Middlesex County Hunger Heroes Awards Cocktail Reception to be held later this month at the Pines Manor in Edison.

Magyar Bank has been hosting food drives for REPLENISH over the last 16 years and donated more than 6,800 pounds of food to the organization as well as donated close to $25,000 to Feeding Middlesex County.

Commenting on the recognition, Magyar Bank President and Chief Executive Officer John Fitzgerald noted, “We are delighted to receive this honor as we celebrate 100 years of serving the local community. Helping our community grow and prosper is woven into the fabric of our bank as we continue to follow in the footsteps of our founding fathers, helping to make a difference in the communities we serve.”

Each year, Magyar supports numerous organizations through corporate donations and employees volunteering their time. In addition, the Magyar Bank Charitable Foundation, established in 2006, has provided over $850,000 in grants to over 100 local organizations, further cementing Magyar’s reputation as a leader in the community.

MagyarBank Charitable Foundation Awards $37,000.00 to Various Central New Jersey Non-Profit Organizations

New Brunswick, NJ—May 4, 2022 — The MagyarBank Charitable Foundation recently awarded $37,000.00 in grants to fourteen non-profit organizations serving the Central New Jersey region. Awarded funds will be used to support and improve the lives of local residents. The Foundation provides grants to programs supporting education, affordable housing, youth programs and health and human services.

The following organizations received an award from the MagyarBank Charitable Foundation:HomeSharing, Inc.
Archangel Raphael’s Mission (ARM), Edison, NJ - $2,500 awarded to support their “Showers for the Homeless Mobile Hygiene Program” and “Coalition for Daily Dinners Initiative” for clients in and around New Brunswick.

Brain Injury Alliance of New Jersey, North Brunswick, NJ - $2,500 awarded to support a one-week socialization and recreational program entitled “Camp T.R.E.K.” (Together in Recreation, Exploration and Knowledge) for up to 35 adults over the age of 18 who have experienced a brain injury.

C.A.S.A of Somerset, Hunterdon and Warren Counties - Lebanon, NJ - $2,500 awarded to support their continued efforts in educational advocacy training.

Center for Educational Advancement (CEA) - Flemington, NJ - $2,500 awarded to fix the current issues with the CEA vehicles used to transport clients with job coaches back and forth to CEA and employment locations in the community.

Central Jersey Housing Resource Center (CJHRC)– Somerville, NJ - $5,000.00 to support CJHRC’s programs and services such as information and referral services, pre-purchase, financial literacy and foreclosure counseling.

Down Syndrome Association of Central New Jersey - Ewing, NJ - $2,500 to help fund the purchase of educational software devices and program supplies that are specifically developed to help individuals with Down Syndrome learn to read and write as well as help fund therapeutic swings and supplies for speech, physical therapy and occupational therapy.

Dress for Success Central Jersey - Lawrenceville, NJ - $1,500 awarded to help fund and support a financial literacy program for the women and families they serve.

HiTOPS, Inc. – Princeton, NJ - $1,000 awarded to help fund training, professional development, coaching and support to 500 youth-facing staff.

HomeSharing, Inc. – Bridgewater, NJ - $2,500 awarded to help fund and support their mission of assisting families in central New Jersey find affordable housing. CJHRC

New Brunswick Education Foundation – New Brunswick, NJ - $2,000 awarded to support the “Innovative Teacher Grants for Excellence Program” that provides grants and technical support to New Brunswick Public School District teachers to develop and implement performance based educational projects and activities.

New Brunswick Health Science Technology High School – New Brunswick, NJ - $5,000 awarded to support their scholarship awards program.

Raritan Valley YMCA – East Brunswick, NJ - $2,500 awarded to help fund a free week-long bereavement camp in July for families that have been impacted in significant ways including financially, mentally, emotionally and physically by COVID-19.

The Center for Great Expectations – Somerset, NJ - $2,500 awarded to support the funding of 50 hours of intensive daily counseling between the women, their children and trained staff that provide individualized trauma informed clinical treatment.

Town Clock, Community Development Corporation (CDC) – New Brunswick, NJ - $2,500 awarded to help fund and support their ongoing Case Management Program that needs to be expanded to meet the needs of additional residents and their children.

“The MagyarBank Charitable Foundation is dedicated to supporting organizations that improve the quality of life of Central Jersey residents,” stated John Reissner, President of the MagyarBank Charitable Foundation. “Local nonprofits make our communities thrive, and we are pleased to contribute our support to them to continue to enrich the lives of residents in the communities we serve.”

Magyar Bank Announces New Hires & Promotions

Paige Burwell, of Middlesex, recently joined Magyar Bank as Vice President, Branch Manager of the Bank’s Edison Office located in the Tano Mall at 1199 Amboy Avenue. Prior to joining Magyar, Ms. Burwell was Vice President, Area Manager at Unity Bank. She has over 7 years of banking experience and is a graduate of the University of Tampa.

Laura Irovando, of North Brunswick, has been promoted to First Vice President, Branch Administrator and will continue to oversee the Bank’s branch network. Ms. Irovando has over 40 years of banking industry experience and has been with Magyar since 2005. She most recently served as Vice President of Branch Administration.

Joseph Figueroa, of New Brunswick, recently joined Magyar Bank as Assistant Vice President, Credit Officer. Mr. Figueroa will be based in the Bank’s Headquarters building in New Brunswick Most recently, he was Assistant Vice President, Loan Review Officer at First Commerce Bank. Mr. Figueroa has over 8 years of experience in various commercial credit positions and holds a Bachelor’s of Science in Management from the Andreas School of Business at Barry University.

Diana Braga, of Kearny, has been promoted to Assistant Vice President, Community Relations and Marketing and will continue to support the Bank’s community relations and marketing efforts. Ms. Braga has been with Magyar since 2021 and is a graduate of Seton Hall University as well as an active member of her community.

Visit any Magyar Bank location, call 1-888-990-BANK or complete our contact form for more information and to open your account.