SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 11-K

[X]	ANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the fiscal year ended December 31, 2016

[ ]	TRANSITION REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 [NO FEE REQUIRED].

For the transition period from _______________ to _______________

Commission File Number 000-51726

A. Full title of the plan and the address of the plan, if different from that of the issuer named below:

Magyar Bank 401(k) Profit Sharing Plan

B. Name of issuer of the securities held pursuant to the plan and the address of its principal executive office:

Magyar Bancorp, Inc.

400 Somerset Street

New Brunswick, New Jersey 08901

REQUIRED INFORMATION

The following financial statements and schedules are filed as a part of this Annual Report on Form 11-K:

Page

Number

(a) Financial Statements of the Plan

Report of Independent Registered Public Accounting Firm 3

Statements of Net Assets Available for Benefits as of

December 31, 2016 and 2015 4

Statement of Changes in Net Assets Available for Benefits

for the Year Ended December 31, 2016 5

Notes to Financial Statements 6

(b) Schedule *

Schedule of Assets (Held at End of Year) - Schedule H, Part IV, Line 4i

as of December 31, 2016 14

(d) Exhibit 23.1- Consent of Independent Registered Public Accounting Firm 16

*	Other schedules required by Section 2520.103-10 of the Department of Labor Rules and Regulations for Reporting and Disclosure under ERISA have been omitted because they are not applicable.

Report of Independent Registered Public Accounting Firm

The Plan Administrator and Participants

Magyar Bank 401(k) Profit Sharing Plan

We have audited the accompanying statements of net assets available for benefits of Magyar Bank 401(k) Profit Sharing Plan (the "Plan") as of December 31, 2016 and 2015, and the related statement of changes in net assets available for benefits for the year ended December 31, 2016. These financial statements are the responsibility of the Plan's management. Our responsibility is to express an opinion on these financial statements based on our audits.

We conducted our audits in accordance with standards of the Public Company Accounting Oversight Board (United States). Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audits provide a reasonable basis for our opinion.

In our opinion, the financial statements referred to above present fairly, in all material respects, the net assets available for benefits of Magyar Bank 401(k) Profit Sharing Plan as of December 31, 2016 and 2015, and the changes in its net assets available for benefits for the year ended December 31, 2016, in conformity with accounting principles generally accepted in the United States of America.

The supplemental information in the accompanying schedule of assets (held at end of year) as of December 31, 2016 has been subjected to audit procedures performed in conjunction with the audit of the Plan's financial statements. The supplemental information is presented for the purpose of additional analysis and is not a required part of the financial statements but include supplemental information required by the Department of Labor's Rules and Regulations for Reporting and Disclosure under the Employee Retirement Income Security Act of 1974. The supplemental information is the responsibility of the Plan's management. Our audit procedures included determining whether the supplemental information reconciles to the financial statements or underlying accounting and other records, as applicable, and performing procedures to test the completeness and accuracy of the information presented in the supplemental information. In forming our opinion on the supplemental information in the accompanying schedule, we evaluated whether the supplemental information, including its form and content is presented in conformity with the Department of Labor's Rules and Regulations for Reporting and Disclosure under the Employee Retirement Income Security Act of 1974. In our opinion, the supplemental information in the accompanying schedule is fairly stated in all material respects in relation to the financial statements as a whole.

/s/WithumSmith+Brown, PC

Whippany, New Jersey

June 26, 2017

Magyar Bank 401(k) Profit Sharing Plan

Statements of Net Assets Available for Benefits
December 31, 2016 and 2015


Assets	2016	2015

Investments:
Interest-bearing cash	$ 809	$ 1,873
Insurance co. general account, at contract value	499,739	456,590
Registered investment companies, at fair value	4,579,926	3,742,666
Employer stock fund, at fair value	637,803	476,051
Total investments	5,718,277	4,677,180

Receivables:
Notes receivable from participants	150,089	166,864
Total receivables	150,089	166,864

Total assets	5,868,366	4,844,044

Net assets available for benefits	$ 5,868,366	$ 4,844,044


See Accompanying Notes to Financial Statements

Magyar Bank 401(k) Profit Sharing Plan

Statement of Changes in Net Assets Available for Benefits
For the Year Ended December 31, 2016


Additions:
Investment Income:
Net appreciation in fair value of investments	$ 397,780
Dividend income	65,577
Other interest	5,822
Total investment income	469,179

Contributions:
Employee	411,429
Rollover	161,219
Employer	104,858
Total contributions	677,506

Interest on notes receivable from participants	6,747

Total additions	1,153,432

Deductions:
Distributions to participants	93,766
Deemed distributions	18,112
Administrative expenses	17,232
Total deductions	129,110

Net increase in net assets	1,024,322

Net assets available for benefits, beginning of year	4,844,044

Net assets available for benefits, end of year	$ 5,868,366


See Accompanying Notes to Financial Statements

MAGYAR BANK

401(k) PROFIT SHARING PLAN

NOTES TO FINANCIAL STATEMENTS

Note 1 - General description of the Plan:

The following brief description of the Magyar Bank 401(k) Profit Sharing Plan (the "Plan") is provided for purposes of general information only. Participants should refer to the Plan document for more complete information.

General:

The Plan was established effective March 1, 1994. The Plan is a participant-directed defined contribution plan covering substantially all employees, as defined, with Magyar Bank and its subsidiaries (the "Bank" or "Plan Sponsor"), which elect to participate in the Plan. The Bank is a wholly-owned subsidiary of Magyar Bancorp, Incorporated. The Plan is subject to the provisions of the Employee Retirement Income Security Act of 1974 ("ERISA").

Eligibility:

The Plan covers all eligible employees of the Bank who have attained 18 years of age, and have been employed with the Bank for three (3) months and worked 250 hours.

Contributions:

Participants may contribute up to 80% of their gross earnings, as defined by the Plan document, up to the maximum permitted by IRS limitations ($18,000 for 2016). Contributions of gross earnings may be either before-tax or after-tax dollars. Participants may also contribute amounts representing distributions from other qualified benefit or contribution plans (known as rollover contributions).

Participating employees age 50 and above may elect to make "Catch Up" pre-tax contributions to the Plan above the Plan's maximum. The maximum additional Catch Up contribution was $6,000 during the 2016 Plan year. Plan provisions allows for the automatic enrollment of all eligible participants upon entry into the Plan of 4% of the participant's eligible compensation, which will be invested into a qualified default investment option determined by the Plan Sponsor. Participants have the option to change the automatic enrollment deferral percentages and increases.

The Bank has the option to make a discretionary contribution. During the year ended December 31, 2016, the Bank made discretionary matching contributions of 50% of the first 4% of employees' elective contributions up to a maximum of 2% of gross earnings. Employer contributions were $104,858 in 2016.

Notes receivable from participants:

Notes receivable from participants are measured at their unpaid principal balance, plus any accrued but unpaid interest.

MAGYAR BANK

401(k) PROFIT SHARING PLAN

NOTES TO FINANCIAL STATEMENTS

Note 1 - General description of the Plan (continued):

Participants may borrow from their individual participant accounts up to a maximum of the lesser of $50,000 or 50% of the market value of their vested balance. The interest rate used in calculating repayments is the prime rate plus one percentage point at the time of the loan. The interest rates on loans ranged from 4.25% to 4.50% as of December 31, 2016 and were all 4.25% as of December 31, 2015. The interest rate is fixed at the time of loan origination and remains unchanged for the life of the loan. The interest paid by the participant is credited to the participant's retirement savings account. The loans have maturities up to five years or up to thirty years for the purchase of a principal residence. No allowance for losses is deemed necessary by Plan Management as loan repayments for principal and interest are made ratably as individual payroll deductions during each regularly scheduled pay period. Loan transactions are treated as a transfer to (from) the respective fund from (to) the participant's loans receivable fund. Delinquent participant loans are deemed as distributions based upon the terms of the Plan document.

Investments:

Employees may elect to have their contributions and the applicable matching Bank contributions invested in one of the various funds offered by the Plan.

Participant accounts:

Each participant's account is credited with the participant's pre-tax and after-tax contributions, the Bank's discretionary matching contributions and an allocation of Plan earnings (losses). Plan earnings (losses) are allocated to participants based on each participant's share balance as a percentage of the Plan's total share balances. The benefit to which a participant is entitled is the benefit provided from the participant's vested account.

Vesting:

The employees are always 100% vested with respect to their own contributions and related earnings. The Bank contributions, together with the earnings or losses on these contributions, will be available to the employees at the time of withdrawal only to the extent they are vested. All Bank contributions will become fully vested in the event of a participant's death, early retirement at age 55, total and permanent disability, or the attainment of age 65 (normal retirement date). Bank matching contributions for each year begin vesting at the rate of 20% per year of service for the first five years of service and Bank non-matching contributions are immediately vested. After an employee has attained five years of service, all current and future contributions are immediately vested.

MAGYAR BANK

401(k) PROFIT SHARING PLAN

NOTES TO FINANCIAL STATEMENTS

Note 1 - General description of the Plan (continued):

Payments of benefits:

Once reaching the age of 59-1/2, a participant can withdraw all pre-tax contributions including earnings for any reason. A partial or total withdrawal (including vested Bank contributions) of a participant's after-tax contributions may be made on any valuation date or as soon as administratively feasible thereafter. In addition, participants may withdraw pre-tax contributions in the event of a financial hardship, such as certain medical expenses, the purchase of a principal residence, payment of tuition and related educational fees, payments to prevent eviction from or foreclosure on a principal residence, or burial or funeral expenses, in the amount equal to their immediate financial need. Hardship withdrawals will be processed as soon as administratively feasible and in most cases the withdrawal will be subject to Federal income taxes.

Administrative expenses:

Expenses incurred in the administration of the Plan and the trust are generally charged to and paid by the Bank and are not included in the accompanying financial statements. Fees pertaining to specific participant transactions are paid by the Plan to the trustee and record keeper through participant deductions and are reflected as administrative expenses. In addition, certain investment related expenses are reflected as a reduction of net investment income and are not readily determinable.

Plan administration:

The Plan is administered by the 401(k) Investment Committee appointed by the Bank's Board of Directors.

Forfeitures:

Forfeitures of non-vested participants' accounts are retained in the Plan and must first be used to offset administrative fees and second to reduce future employer contributions. During 2016 and 2015, forfeitures amounted to $3,625 and $1,711, respectively. The Plan used $4,689 of previously forfeited amounts to fund Plan administration expenses in 2016. The balance of the forfeited funds held by the Plan at December 31, 2016 and 2015 was $648 and $1,711, respectively.

Plan termination:

The Bank anticipates and believes that the Plan will continue without interruption, but reserves the right to continue or amend the Plan, revise the rate of Bank contributions or terminate the Plan at any time. If terminated, participants would become 100% vested in their accounts and the assets of the Plan will be distributed to the participants and beneficiaries in the order and manner prescribed in ERISA.

MAGYAR BANK

401(k) PROFIT SHARING PLAN

NOTES TO FINANCIAL STATEMENTS

Note 2 - Summary of significant accounting policies:

Basis of accounting:

The accompanying financial statements are prepared in accordance with accounting principles generally accepted in the United States of America on the accrual basis of accounting. Under this method of accounting, contributions and investment income are recorded when earned and expenses are recorded when incurred.

Use of estimates:

The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities and changes therein, and disclosure of contingent assets and liabilities. Actual results could differ from those estimates.

Investment valuation and fair value measurements:

The Plan's investments are recorded in accordance with FASB Accounting Standards Codification Topic 820 ("ASC 820"), which established a framework for measuring fair value. ASC 820 clarifies that fair value is an estimate of the exit price, representing the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants (i.e., the exit price at the measurement date). That framework provides a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (level 1 measurements) and the lowest priority to unobservable inputs (level 3 measurements). The three levels of the fair value hierarchy under ASC 820 are described below:

Level 1: Inputs to the valuation methodology are unadjusted quoted prices for identical assets or liabilities in active markets that the Plan has the ability to access.

Level 2: Inputs to the valuation methodology include:

·	Quoted prices for similar assets or liabilities in active markets;

·	Quoted prices for identical or similar assets or liabilities in inactive markets;

·	Inputs other than quoted prices that are observable for the asset or liability;

·	Inputs that are derived principally from or corroborated by observable market data by correlation or other means.

If the asset or liability has a specified (contractual) term, the Level 2 input must be observable for substantially the full term of the asset or liability.

Level 3: Inputs to the valuation methodology that are unobservable and significant to the fair value measurement.

MAGYAR BANK

401(k) PROFIT SHARING PLAN

NOTES TO FINANCIAL STATEMENTS

Note 2 - Summary of significant accounting policies (continued):

The asset's or liability's fair value measurement level within the fair value hierarchy is based on the lowest observable level of any input that is significant to the fair value measurement. Valuation techniques were used to maximize the use of observable inputs and minimize the use of unobservable inputs.

Following is a description of the valuation methodologies used for assets measured at fair value. There have been no changes in the methodologies used at December 31, 2016 and 2015.

Employer stock fund: The Plan holds an investment fund, which consists primarily of employer-related securities. State Street Bank is the fund's custodian, and is paid related custodial fees. As of December 31, 2016 and 2015, Magyar Bancorp, Inc. common stock represented approximately 97% of the fund's assets, and the remaining 3% consisted of a money market mutual fund. The Plan directly owns the shares of common stock of Magyar Bancorp, Inc. While Magyar Bancorp, Inc. common stock is publically traded, the units of this Magyar Bank Employer Stock Fund (the "Fund") are only available to the participants of this Plan. This Fund is valued at the net asset value ("NAV") of the units held by the Plan at year end as calculated by the Custodian of the Fund. These investments can be redeemed daily and without any restrictions on the timing of the redemption. At December 31, 2016 and 2015, the Plan had no unfunded commitments related to these investments.

Registered investment companies: Valued at the NAV of shares held by the Plan at year end as reported on the active market on which the fund is traded and are therefore valued using level 1 measurement.

Insurance co. general account: Contract value is the relevant measurement attribute for that portion of the net assets available for benefits of a defined-contribution plan attributable to fully benefit-responsive investment contracts because contract value is the amount participants would receive if they were to initiate permitted transactions under the terms of the contract. The fully benefit-responsive investment contracts are direct investments between the Plan and the issuer. Contract values are determined daily based on the fair values of the underlying investments, including separate accounts under group annuity contracts and all mutual funds under net asset value custodian agreements. Since contract value is the relevant measurement, this investment is excluded from the fair value hierarchy table.

Investment income recognition:

With respect to registered investment companies, the Plan shares in the earnings or losses according to the percent of the Plan's assets to the total assets of the fund. Purchases and sales of securities are recorded on a trade-date basis. Interest income is recorded on the accrual basis. Dividends are recorded on the ex-dividend date. Net appreciation/depreciation includes the Plan's gains and losses on investments bought and sold as well as held during the plan year.

MAGYAR BANK

401(k) PROFIT SHARING PLAN

NOTES TO FINANCIAL STATEMENTS

Note 2 - Summary of significant accounting policies (continued):

Distributions:

Distributions to Plan participants are recorded when paid. The benefit distribution to which a participant is entitled is that benefit which can be provided from the participant's vested account balance.

Recent accounting pronouncements:

There were no recently adopted accounting pronouncements that had a material impact on the Plan's financial statements.

Note 3 - Investments:

During 2016, the Plan recognized interest income of $12,569, which includes interest on notes receivable from participants of $6,747 and other interest of $5,822 on the insurance company general account. During 2016, the Plan's investments (including earnings and losses on investments bought and sold, as well as held during the year) resulted in a net appreciation in value as follows:

Net appreciation in fair value of registered investment companies $ 296,813

Net appreciation in fair value of employer stock fund 100,967

Total $ 397,780

Note 4 - Investment Contract with Insurance Company:

The Plan holds a fully benefit-responsive investment contract (insurance company/general account or Transamerica Stable Fund Account) with Transamerica Life Insurance Company ("Transamerica"), listed in the Statements of Net Assets Available for Benefits as Insurance co. general account. Transamerica maintains the contributions in a general account. Contract value is the relevant measurement attribute for the portion of the net assets available for benefits of a defined-contribution plan attributable to fully benefit-responsive investment contracts because contract value is the amount participants would receive if they were to initiate permitted transactions under the terms of the contract. The contract values are determined daily based on the fair values of the underlying investments, including separate accounts under group annuity contracts and all mutual funds under net asset value (NAV) custodian agreements. Contract values represent contributions made under each contract, plus earnings, less participant withdrawals and administrative expenses. The group annuity contracts held by the Plan meet the five conditions to be considered fully benefit-responsive. A Plan merger or termination would limit the Plan from transacting at contract value.

MAGYAR BANK

401(k) PROFIT SHARING PLAN

NOTES TO FINANCIAL STATEMENTS

Note 5 – Investment Valuation:

The following table sets forth by level within the fair value hierarchy, the Plan's assets at fair value as of December 31, 2016 and 2015.

Assets at Fair Value as of December 31, 2016

	Level 1	Total

Registered investment companies	$ 4,579,926	$ 4,579,926
Total investments at fair value	4,579,926	4,579,926

Investments measured at net asset value*	-	637,803
Investments at contract value	-	499,739
Total investments	$ 4,579,926	$ 5,717,468


Assets at Fair Value as of December 31, 2015

	Level 1	Total

Registered investment companies	$ 3,742,666	$ 3,742,666
Total investments at fair value	3,742,666	3,742,666

Investments measured at net asset value*	-	476,051
Investments at contract value	-	456,590
Total investments	$ 3,742,666	$ 4,675,307

Note 6 – Party in Interest transactions:

Included with the Plan's investment alternatives are units of an employer stock fund which holds stock of Magyar Bancorp, Inc. Transactions of these shares qualify as party-in-interest transactions.

Certain Plan investments are shares of registered investment companies and an investment in a guaranteed investment insurance co. general account managed by Transamerica Life Insurance Co. Transamerica Life Insurance Co. and Diversified Investment Advisors are the Plan's record keepers. Additionally State Street Bank & Trust Co., the Custodian of the Plan's assets, manages the Plan's cash reserve account. Therefore, these transactions qualify as party-in-interest transactions.

MAGYAR BANK

401(k) PROFIT SHARING PLAN

NOTES TO FINANCIAL STATEMENTS

Note 7 - Tax status of the Plan:

The IRS has determined and informed the Bank by a letter dated March 31, 2014, that the Plan and related trust are designed in accordance with applicable sections of the Internal Revenue Code ("IRC"). The Plan has been amended since receiving its latest advisory letter, however, the Plan administrator and tax counsel believe the Plan is currently designed and being operated in compliance with the applicable requirements of the Internal Revenue Code. Therefore, the Plan administrator believes the Plan is qualified and the related trust is tax-exempt.

Effective June 1, 2015, the Plan was restated in accordance with the Internal Revenue Service requirement that "pre-approved" defined contribution plan documents be restated in their entirety to include language for changes in applicable laws or regulations every six years. This restatement process incorporates all amendments made to the plan during the past six years into a new plan document. The restated plan also incorporates an amendment to add an In-Plan Roth Rollover provision.

Accounting principles generally accepted in the United States of America require Plan management to evaluate tax positions taken by the Plan and recognize a tax liability if the Plan has taken an uncertain position that more likely than not would not be sustained upon examination by the Internal Revenue Service. The Plan Administrator has analyzed the tax positions taken by the Plan, and has concluded that as of December 31, 2016 and 2015, there are no uncertain positions taken or expected to be taken that would require recognition of a liability or disclosure in the financial statements. The Plan is subject to routine audits by taxing jurisdictions; however, there are currently no audits for any tax periods in progress. In addition, there have been no tax related interest or penalties for periods presented in these financial statements.

Note 8 - Concentration of risks and uncertainties:

The assets of the Plan are primarily financial instruments which are monetary in nature and concentrated in investment securities. As a result, interest rates have a more significant impact on the Plan's performance than the effects of general levels of inflation. Interest rates do not necessarily move in the same direction or in the same magnitude as the prices of goods and services as measured by the Consumer Price Index. Investments in funds are subject to risk conditions of the individual investment or fund objectives, stock market fluctuations, interest rates, economic conditions and world affairs. Due to uncertainties inherent in the estimations and assumptions process, it is at least reasonably possible that changes in these estimates and assumptions in the near term would be material to the financial statements.


	Magyar Bank 401(k) Profit Sharing Plan
	EIN No.: 22-1085787, Plan No. 002
	Schedule H, Part IV, Line 4i - Schedule of Assets (Held at End of Year)
	Plan Year Ending: 12/31/2016

	(b)	(c)	(e)
	Identity of Issue, Borrower,	Description of Investment, Including Maturity Date,	Current
(a)	Lessor or Similar Party	Rate of Interest, Par or Maturity Value	Value
*	State Street Bank & Trust Co.	Cash Reserve Account	$ 809

	American Funds	American Funds Fundamental Investor R3	$ 557,877
	American Funds	American Funds New Perspective R3	$ 237,567
	Fidelity	Fidelity Advisor Emerging Markets T	$ 3,074
	Franklin Templeton	Franklin Small-Mid Cap Growth R	$ 74,665
	Loomis Sayles	Loomis Sayles Bond Admin	$ 185,762
	Nuveen	Nuveen Small Cap Value R3	$ 180,949
	Oppenheimer	Oppenheimer International Growth A	$ 232,478
	Pioneer	Pioneer Bond R	$ 78,996
*	Transamerica Asset Allocation Funds	Transamerica Asset Alloc - Intermed Horizon	$ 72,467
*	Transamerica Asset Allocation Funds	Transamerica Asset Alloc - Long Horizon	$ 85,084
*	Transamerica Asset Allocation Funds	Transamerica Asset Alloc - Short Horizon	$ 48,679
*	Transamerica	Transamerica Multi Managed Balanced I	$ 265,450
*	Transamerica Partners Funds Group	Transamerica Partners Core Bond	$ 191,087
*	Transamerica Partners Funds Group	Transamerica Partners Stock Index Fund	$ 357,076
*	Transamerica	Transamerica US Growth I	$ 245,156
	Vanguard	Vanguard Mid Cap Index Adm	$ 318,792
	Vanguard	Vanguard Small Cap Index Adm	$ 526,793
	Vanguard	Vanguard Target Retirement 2015	$ 30,779
	Vanguard	Vanguard Target Retirement 2020	$ 62,076
	Vanguard	Vanguard Target Retirement 2025	$ 299,667
	Vanguard	Vanguard Target Retirement 2030	$ 70,458
	Vanguard	Vanguard Target Retirement 2035	$ 152,040
	Vanguard	Vanguard Target Retirement 2040	$ 226,100
	Vanguard	Vanguard Target Retirement 2045	$ 35,802
	Vanguard	Vanguard Target Retirement 2050	$ 271
	Vanguard	Vanguard Target Retirement 2055	$ 18,169
	Vanguard	Vanguard Target Retirement 2060	$ 21,670
	Vanguard	Vanguard Target Retirement Income	$ 942
		MUTUAL FUND TOTAL	$ 4,579,926

*	Transamerica Life Insurance Co.	Transamerica Stable Value Account	$ 499,739
		GENERAL ACCOUNT TOTAL	$ 499,739

*	Magyar Bancorp, Inc. Stock	Employer Stock Fund	$ 637,803
		EMPLOYER STOCK FUND TOTAL	$ 637,803

*	Participants	Notes Receivable with interest rates of 4.25% to 4.50%	$ 150,089
		Mature from 2017 to 2025

		TOTAL PLAN ASSETS	$ 5,868,366

* Indicates Party-In-Interest to the Plan

See Report of Independent Registered Public Accounting Firm

SIGNATURES

The Plan. Pursuant to the requirements of the Securities Exchange Act of 1934, the trustees (or other persons who administer the employee benefit plan) have duly caused this annual report to be signed on its behalf by the undersigned hereunto duly authorized.

		MAGYAR BANK 401(k) PROFIT SHARING PLAN


Date: June 26, 2017	By:	/s/ Vicki Fackovec
		Vice President, Human Resources Director
		Magyar Bank