<SEC-DOCUMENT>0000943374-24-000028.txt : 20240130
<SEC-HEADER>0000943374-24-000028.hdr.sgml : 20240130
<ACCEPTANCE-DATETIME>20240130121605
ACCESSION NUMBER:		0000943374-24-000028
CONFORMED SUBMISSION TYPE:	SC 13G/A
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20240130
DATE AS OF CHANGE:		20240130

SUBJECT COMPANY:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Magyar Bancorp, Inc.
		CENTRAL INDEX KEY:			0001337068
		STANDARD INDUSTRIAL CLASSIFICATION:	SAVINGS INSTITUTION, FEDERALLY CHARTERED [6035]
		ORGANIZATION NAME:           	02 Finance
		IRS NUMBER:				204154978
		FISCAL YEAR END:			0930

	FILING VALUES:
		FORM TYPE:		SC 13G/A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	005-81304
		FILM NUMBER:		24576756

	BUSINESS ADDRESS:	
		STREET 1:		400 SOMERSET STREET
		CITY:			NEW BRUNSWICK
		STATE:			NJ
		ZIP:			08901
		BUSINESS PHONE:		732-249-2438

	MAIL ADDRESS:	
		STREET 1:		400 SOMERSET STREET
		CITY:			NEW BRUNSWICK
		STATE:			NJ
		ZIP:			08901

FILED BY:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Magyar Bancorp, Inc.
		CENTRAL INDEX KEY:			0001337068
		STANDARD INDUSTRIAL CLASSIFICATION:	SAVINGS INSTITUTION, FEDERALLY CHARTERED [6035]
		ORGANIZATION NAME:           	02 Finance
		IRS NUMBER:				204154978
		FISCAL YEAR END:			0930

	FILING VALUES:
		FORM TYPE:		SC 13G/A

	BUSINESS ADDRESS:	
		STREET 1:		400 SOMERSET STREET
		CITY:			NEW BRUNSWICK
		STATE:			NJ
		ZIP:			08901
		BUSINESS PHONE:		732-249-2438

	MAIL ADDRESS:	
		STREET 1:		400 SOMERSET STREET
		CITY:			NEW BRUNSWICK
		STATE:			NJ
		ZIP:			08901
</SEC-HEADER>
<DOCUMENT>
<TYPE>SC 13G/A
<SEQUENCE>1
<FILENAME>sch13g-a_2023.htm
<DESCRIPTION>MAGYAR BANCORP, INC. SCHEDULE 13G (AMENDMENT 2) DECEMBER 31, 2023
<TEXT>
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    <div style="text-align: center; font-size: 12pt; font-weight: bold;">UNITED STATES</div>
    <div style="text-align: center; font-size: 12pt; font-weight: bold;">SECURITIES AND EXCHANGE COMMISSION</div>
    <div style="text-align: center; font-size: 12pt; font-weight: bold;">Washington, D.C.&#160; 20549</div>
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    <div style="text-align: center; font-size: 12pt; font-weight: bold;">SCHEDULE 13G</div>
    <div><br>
    </div>
    <div style="text-align: center; font-size: 12pt; font-weight: bold;">Under the Securities Exchange Act of 1934</div>
    <div><br>
    </div>
    <div style="text-align: center; font-size: 12pt;"><font style="font-weight: bold;">(Amendment No. 2)</font>*</div>
    <div><br>
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    <div><br>
    </div>
    <div style="text-align: center; font-size: 12pt;"><u>Magyar Bancorp, Inc.</u></div>
    <div style="text-align: center;">(Name of Issuer)</div>
    <div><br>
    </div>
    <div><br>
    </div>
    <div style="text-align: center; font-size: 12pt;"><u>Common Stock, par value $0.01 per share</u></div>
    <div style="text-align: center;">(Title of Class of Securities)</div>
    <div><br>
    </div>
    <div style="text-align: center; font-size: 12pt;"><u>55977T 208</u></div>
    <div style="text-align: center;">(CUSIP Number)</div>
    <div><br>
    </div>
    <div style="text-align: center; font-size: 12pt;"><u>December 31, 2023</u></div>
    <div style="text-align: center;">(Date of Event Which Requires Filing of This Statement)</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 36pt; font-size: 12pt;">Check the appropriate box to designate the rule pursuant to which this Schedule is filed:</div>
    <div><br>
    </div>
    <table cellspacing="0" cellpadding="0" id="zad514dceac6644dfa3c39172dac96746" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

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          <td style="width: 72pt; vertical-align: top; font-size: 12pt;">&#9746;</td>
          <td style="width: auto; vertical-align: top;">
            <div style="font-size: 12pt;">Rule 13d-1(b)</div>
          </td>
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    <table cellspacing="0" cellpadding="0" id="z3464217352004b0fa817b3f75012074c" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

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          <td style="width: 72pt; vertical-align: top; font-size: 12pt;">&#9744;</td>
          <td style="width: auto; vertical-align: top;">
            <div style="font-size: 12pt;">Rule 13d-1(c)</div>
          </td>
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    <table cellspacing="0" cellpadding="0" id="z68d157a20937478f8c399a9148ee29f3" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

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          <td style="width: 72pt; vertical-align: top; font-size: 12pt;">&#9744;</td>
          <td style="width: auto; vertical-align: top;">
            <div style="font-size: 12pt;">Rule 13d-1(d)</div>
          </td>
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    <div><br>
    </div>
    <div style="text-align: justify; font-size: 12pt;"><font style="font-weight: bold;">*</font>The remainder of this cover page shall be filled
      out for a reporting person&#8217;s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page.</div>
    <div><br>
    </div>
    <div style="text-align: justify; font-size: 12pt;">The information required in the remainder of this cover page shall not be deemed to be &#8220;filed&#8221; for the purpose of Section 18 of the Securities Exchange Act
      of 1934 (&#8220;Act&#8221;) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).</div>
    <div><br>
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    <div style="text-align: center; font-size: 12pt;">Page 1 of 5 Pages</div>
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            <td style="width: 33.33%; vertical-align: middle; border-width: 2px; border-style: solid; border-color: rgb(0, 0, 0);">
              <div style="text-align: center;">CUSIP NO. 55977T 208</div>
            </td>
            <td style="width: 33.33%; vertical-align: middle;">
              <div style="text-align: center; font-weight: bold;">13G</div>
            </td>
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              <div style="text-align: center;">Page 2 of 5 Pages</div>
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            <div>1</div>
          </td>
          <td style="width: 94.21%; vertical-align: top; border-width: 2px; border-style: solid; border-color: rgb(0, 0, 0);" colspan="3">
            <div>Names of Reporting Persons</div>
            <div>&#160;</div>
            <div style="margin-left: 36pt;">Magyar Bank</div>
            <div style="margin-left: 36pt;">Employee Stock Ownership Plan Trust</div>
          </td>
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        <tr>
          <td style="width: 5.79%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">
            <div>2</div>
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          <td style="width: 94.21%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0);" colspan="3">
            <div>Check the Appropriate Box if a Member of a Group (See Instructions)</div>
            <div>&#160;</div>
            <div style="margin-left: 36pt;">(a)<font class="TRGRRTFtoHTMLTab" style="display: inline-block; text-indent: 0px; font-size: 1px; width: 36pt">
              </font>&#9744;</div>
            <div style="margin-left: 36pt;">(b)<font class="TRGRRTFtoHTMLTab" style="display: inline-block; text-indent: 0px; font-size: 1px; width: 36pt">
              </font>&#9746;</div>
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            <div>3</div>
          </td>
          <td style="width: 94.21%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0);" colspan="3">
            <div>SEC Use Only</div>
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          <td style="width: 5.79%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">
            <div>4</div>
          </td>
          <td style="width: 94.21%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0);" colspan="3">
            <div>Citizenship or Place of Organization</div>
            <div>&#160;</div>
            <div style="margin-left: 36pt;">New Jersey</div>
          </td>
        </tr>
        <tr>
          <td style="width: 20.69%; vertical-align: middle; border-bottom: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);" rowspan="4" colspan="2">
            <div style="text-align: center;">Number of Shares Beneficially Owned by Each Reporting Person With:</div>
          </td>
          <td style="width: 5.2%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">
            <div>5</div>
          </td>
          <td style="width: 74.11%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0);">
            <div>Sole Voting Power</div>
            <div>&#160;</div>
            <div style="margin-left: 36pt;">278,163</div>
          </td>
        </tr>
        <tr>
          <td style="width: 14.89%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">
            <div>6</div>
          </td>
          <td style="width: 5.2%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0);">
            <div>Shared Voting Power</div>
            <div>&#160;</div>
            <div style="margin-left: 36pt;">186,940</div>
          </td>
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          <td style="width: 14.89%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">
            <div>7</div>
          </td>
          <td style="width: 5.2%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0);">
            <div>Sole Dispositive Power</div>
            <div>&#160;</div>
            <div style="margin-left: 36pt;">372,930</div>
          </td>
        </tr>
        <tr>
          <td style="width: 14.89%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">
            <div>8</div>
          </td>
          <td style="width: 5.2%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0);">
            <div>Shared Dispositive Power</div>
            <div>&#160;</div>
            <div style="margin-left: 36pt;">92,173</div>
          </td>
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          <td style="width: 5.79%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">
            <div>9</div>
          </td>
          <td style="width: 94.21%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0);" colspan="3">
            <div>Aggregate Amount Beneficially Owned by Each Reporting Person</div>
            <div>&#160;</div>
            <div style="margin-left: 36pt;">465,103</div>
          </td>
        </tr>
        <tr>
          <td style="width: 5.79%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">
            <div>10</div>
          </td>
          <td style="width: 94.21%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0);" colspan="3">
            <div>Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions)</div>
            <div>&#160;</div>
            <div style="margin-left: 36pt;">&#9744;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 5.79%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">
            <div>11</div>
          </td>
          <td style="width: 94.21%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0);" colspan="3">
            <div>Percent of Class Represented by Amount in Row 9</div>
            <div>&#160;</div>
            <div style="margin-left: 7.4pt;">7.0% of 6,654,952 shares of Common Stock outstanding as of December 31, 2023.</div>
          </td>
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          <td style="width: 5.79%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">
            <div>12</div>
          </td>
          <td style="width: 94.21%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0);" colspan="3">
            <div>Type of Reporting Person (See Instructions)</div>
            <div>&#160;</div>
            <div style="margin-left: 36pt;">EP</div>
          </td>
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              <div style="text-align: center;">CUSIP NO. 55977T 208</div>
            </td>
            <td style="width: 33.33%; vertical-align: middle;">
              <div style="text-align: center; font-weight: bold;">13G</div>
            </td>
            <td style="width: 33.33%; vertical-align: middle; border-width: 2px; border-style: solid; border-color: rgb(0, 0, 0);">
              <div style="text-align: center;">Page 3 of 5 Pages</div>
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    <div style="text-align: justify; font-size: 12pt; font-weight: bold;"> <br>
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    <div style="text-align: justify; font-size: 12pt; font-weight: bold;">Item 1.</div>
    <div><br>
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          <td style="width: 36pt; vertical-align: top; font-size: 12pt; font-weight: bold;">(a)</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div style="font-size: 12pt; font-weight: bold;">Name of Issuer</div>
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    <div style="text-align: justify; margin-left: 72pt; font-size: 12pt;">Magyar Bancorp, Inc.</div>
    <div><br>
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    <table cellspacing="0" cellpadding="0" id="za725f9558b4240c6926975d5d9bb4974" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

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          <td style="width: 36pt; vertical-align: top; font-size: 12pt; font-weight: bold;">(b)</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div style="font-size: 12pt; font-weight: bold;">Address of Issuer&#8217;s Principal Executive Offices</div>
          </td>
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    <div style="text-align: justify; margin-left: 72pt; font-size: 12pt;">400 Somerset Street</div>
    <div style="text-align: justify; margin-left: 72pt; font-size: 12pt;">New Brunswick, New Jersey 08901</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: -72pt; margin-left: 72pt; font-size: 12pt; font-weight: bold;">Item 2.</div>
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          <td style="width: 36pt; vertical-align: top; font-size: 12pt; font-weight: bold;">(a)</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div style="font-size: 12pt; font-weight: bold;">Name of Person Filing</div>
          </td>
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    <div style="text-align: justify; margin-left: 72pt; font-size: 12pt;">Magyar Bank</div>
    <div style="text-align: justify; margin-left: 72pt; font-size: 12pt;">Employee Stock Ownership Plan Trust</div>
    <div style="text-align: justify; margin-left: 72pt; font-size: 12pt;">Trustee: TI-Trust, Inc.</div>
    <div><br>
    </div>
    <table cellspacing="0" cellpadding="0" id="z5bcab60f6c4f44beabf7971c1b44c894" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

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          <td style="width: 36pt; vertical-align: top; font-size: 12pt; font-weight: bold;">(b)</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div style="font-size: 12pt; font-weight: bold;">Address of Principal Business Office</div>
          </td>
        </tr>

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    <div><br>
    </div>
    <div style="text-align: justify; margin-left: 72pt; font-size: 12pt;">c/o TI-Trust, Inc.</div>
    <div style="text-align: justify; margin-left: 72pt; font-size: 12pt;">2900 North 23<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">rd</sup> Street</div>
    <div style="text-align: justify; margin-left: 72pt; font-size: 12pt;">Quincy, Illinois 62305</div>
    <div><br>
    </div>
    <table cellspacing="0" cellpadding="0" id="zecb91e2fe3544f66aee8d8b95129b722" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

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          <td style="width: 36pt; vertical-align: top; font-size: 12pt; font-weight: bold;">(c)</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div style="font-size: 12pt; font-weight: bold;">Citizenship or Place of Organization</div>
          </td>
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    <div><br>
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    <div style="text-align: justify; margin-left: 72pt; font-size: 12pt;">See Page 2, Item 4.</div>
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          <td style="width: 36pt; vertical-align: top; font-size: 12pt; font-weight: bold;">(d)</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div style="font-size: 12pt; font-weight: bold;">Title of Class of Securities</div>
          </td>
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    <div><br>
    </div>
    <div style="text-align: justify; margin-left: 72pt; font-size: 12pt;">Common Stock, par value $0.01 per share</div>
    <div><br>
    </div>
    <table cellspacing="0" cellpadding="0" id="z279abefb26514bb488945fc6a8e49bd1" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

        <tr>
          <td style="width: 36pt;"><br>
          </td>
          <td style="width: 36pt; vertical-align: top; font-size: 12pt; font-weight: bold;">(e)</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div style="font-size: 12pt; font-weight: bold;">CUSIP Number</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <div style="text-align: justify; margin-left: 72pt; font-size: 12pt;">See Page 1.</div>
    <div><br>
    </div>
    <table cellspacing="0" cellpadding="0" id="z7966d987785e410886f7eb900bb010f3" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

        <tr>
          <td style="width: 72pt; vertical-align: top; font-size: 12pt; font-weight: bold;">Item 3.</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div style="font-size: 12pt; font-weight: bold;">If this statement is filed pursuant to &#167;&#167;240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <div style="text-align: justify; margin-left: 72pt; font-size: 12pt;">(f) &#9746; An employee benefit plan or endowment fund in accordance with &#167;240.13d-1(b)(1)(ii)(F).</div>
    <div><br>
    </div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" class="BRPFPageBreakArea">
      <div style="page-break-after: always;" class="BRPFPageBreak">
        <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
    </div>
    <div>
      <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 33.33%; vertical-align: middle; border-width: 2px; border-style: solid; border-color: rgb(0, 0, 0);">
              <div style="text-align: center;">CUSIP NO. 55977T 208</div>
            </td>
            <td style="width: 33.33%; vertical-align: middle;">
              <div style="text-align: center; font-weight: bold;">13G</div>
            </td>
            <td style="width: 33.33%; vertical-align: middle; border-width: 2px; border-style: solid; border-color: rgb(0, 0, 0);">
              <div style="text-align: center;">Page 4 of 5 Pages</div>
            </td>
          </tr>

      </table>
    </div>
    <div><br>
    </div>
    <table cellspacing="0" cellpadding="0" id="z3edbdd9770734a36ba78da3093bc5a90" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

        <tr>
          <td style="width: 72pt; vertical-align: top; font-size: 12pt; font-weight: bold;">Item 4.</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div style="font-size: 12pt; font-weight: bold;">Ownership</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <div style="text-align: justify; margin-left: 72pt; font-size: 12pt;">Provide the following information regarding the aggregate number and percentage of the class of securities of the issuer identified in
      Item 1.</div>
    <div><br>
    </div>
    <table cellspacing="0" cellpadding="0" id="za70341553f034bb6929b7581503f3ca9" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

        <tr>
          <td style="width: 72pt;"><br>
          </td>
          <td style="width: 36pt; vertical-align: top; font-size: 12pt;">(a)</td>
          <td style="width: auto; vertical-align: top;">
            <div style="font-size: 12pt;">Amount beneficially owned: See Page 2, Item 9.</div>
          </td>
        </tr>

    </table>
    <table cellspacing="0" cellpadding="0" id="z0b3f09ddefdc4f8db44faa477d9699d8" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

        <tr>
          <td style="width: 72pt;"><br>
          </td>
          <td style="width: 36pt; vertical-align: top; font-size: 12pt;">(b)</td>
          <td style="width: auto; vertical-align: top;">
            <div style="font-size: 12pt;">Percent of class: See Page 2, Item 11.</div>
          </td>
        </tr>

    </table>
    <table cellspacing="0" cellpadding="0" id="ze489c523842342b5a474b0bbc8612014" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

        <tr>
          <td style="width: 72pt;"><br>
          </td>
          <td style="width: 36pt; vertical-align: top; font-size: 12pt;">(c)</td>
          <td style="width: auto; vertical-align: top;">
            <div style="font-size: 12pt;">Number of shares as to which the person has:</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <table cellspacing="0" cellpadding="0" id="z7f94cd6a8b964affb1c9834988a9dcef" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

        <tr>
          <td style="width: 108pt;"><br>
          </td>
          <td style="width: 36pt; vertical-align: top; font-size: 12pt;">(i)</td>
          <td style="width: auto; vertical-align: top;">
            <div style="font-size: 12pt;">Sole power to vote or to direct the vote: See Page 2, Number 5.</div>
          </td>
        </tr>

    </table>
    <table cellspacing="0" cellpadding="0" id="z06d57f5af7dd4da8b2da529b28f81f24" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

        <tr>
          <td style="width: 108pt;"><br>
          </td>
          <td style="width: 36pt; vertical-align: top; font-size: 12pt;">(ii)</td>
          <td style="width: auto; vertical-align: top;">
            <div style="font-size: 12pt;">Shared power to vote or to direct the vote: See Page 2, Number 6.</div>
          </td>
        </tr>

    </table>
    <table cellspacing="0" cellpadding="0" id="z30348d6715aa4b9383be7b617a8ecc57" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

        <tr>
          <td style="width: 108pt;"><br>
          </td>
          <td style="width: 36pt; vertical-align: top; font-size: 12pt;">(iii)</td>
          <td style="width: auto; vertical-align: top;">
            <div style="font-size: 12pt;">Sole power to dispose or to direct the disposition of: See Page 2, Number 7.</div>
          </td>
        </tr>

    </table>
    <table cellspacing="0" cellpadding="0" id="z2568b1850744487b8325acabb8068287" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

        <tr>
          <td style="width: 108pt;"><br>
          </td>
          <td style="width: 36pt; vertical-align: top; font-size: 12pt;">(iv)</td>
          <td style="width: auto; vertical-align: top;">
            <div style="font-size: 12pt;">Shared power to dispose or to direct the disposition of: See Page 2, Number 8.</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <table cellspacing="0" cellpadding="0" id="zfd68deaeaa09467bbab2ed4780a71d74" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

        <tr>
          <td style="width: 72pt; vertical-align: top; font-size: 12pt; font-weight: bold;">Item 5.</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div style="font-size: 12pt; font-weight: bold;">Ownership of Five Percent or Less of a Class</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <div style="text-align: justify; margin-left: 72pt; font-size: 12pt;">Not applicable</div>
    <div><br>
    </div>
    <table cellspacing="0" cellpadding="0" id="z28d813ae4dec418cbad69d79ed93dee0" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

        <tr>
          <td style="width: 72pt; vertical-align: top; font-size: 12pt; font-weight: bold;">Item 6.</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div style="font-size: 12pt; font-weight: bold;">Ownership of More Than Five Percent on Behalf of Another Person</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <div style="text-align: justify; margin-left: 72pt; font-size: 12pt;">Not applicable</div>
    <div><br>
    </div>
    <table cellspacing="0" cellpadding="0" id="z49902bd01c6e4129a0443c965aa1bada" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

        <tr>
          <td style="width: 72pt; vertical-align: top; font-size: 12pt; font-weight: bold;">Item 7.</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div style="font-size: 12pt; font-weight: bold;">Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <div style="text-align: justify; margin-left: 72pt; font-size: 12pt;">Not applicable</div>
    <div><br>
    </div>
    <table cellspacing="0" cellpadding="0" id="z18f828aab4814e39b10ae09ae0e3c6d8" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

        <tr>
          <td style="width: 72pt; vertical-align: top; font-size: 12pt; font-weight: bold;">Item 8.</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div style="font-size: 12pt; font-weight: bold;">Identification and Classification of Members of the Group</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <div style="text-align: justify; margin-left: 72pt; font-size: 12pt;">The reporting person is an employee benefit plan subject to the provisions of the Employee Retirement Income Security Act of 1974, as
      amended.</div>
    <div><br>
    </div>
    <table cellspacing="0" cellpadding="0" id="z398265cacb5546be839838a12e9ef9a6" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

        <tr>
          <td style="width: 72pt; vertical-align: top; font-size: 12pt; font-weight: bold;">Item 9.</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div style="font-size: 12pt; font-weight: bold;">Notice of Dissolution of Group</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <div style="text-align: justify; margin-left: 72pt; font-size: 12pt;">Not applicable</div>
    <div><br>
    </div>
    <table cellspacing="0" cellpadding="0" id="zec226553e68842ef9a8d3b797a833180" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

        <tr>
          <td style="width: 72pt; vertical-align: top; font-size: 12pt; font-weight: bold;">Item 10.</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div style="font-size: 12pt; font-weight: bold;">Certification</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <div style="text-align: justify; margin-left: 72pt; font-size: 12pt;">By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in
      the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a
      participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under &#167;240.14a-11.</div>
    <div class="BRPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div class="BRPFPageBreak" style="page-break-after: always;">
        <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
    </div>
    <div style="text-align: center; font-size: 12pt; font-weight: bold;">
      <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 33.33%; vertical-align: middle; border-width: 2px; border-style: solid; border-color: rgb(0, 0, 0);">
              <div style="text-align: center;">CUSIP NO. 55977T 208</div>
            </td>
            <td style="width: 33.33%; vertical-align: middle;">
              <div style="text-align: center; font-weight: bold;">13G</div>
            </td>
            <td style="width: 33.33%; vertical-align: middle; border-width: 2px; border-style: solid; border-color: rgb(0, 0, 0);">
              <div style="text-align: center;">Page 5 of 5 Pages</div>
            </td>
          </tr>

      </table>
    </div>
    <div style="text-align: center; font-size: 12pt; font-weight: bold;"> <br>
    </div>
    <div style="text-align: center; font-size: 12pt; font-weight: bold;">SIGNATURE</div>
    <div><br>
    </div>
    <div><br>
    </div>
    <div style="text-indent: 36pt; font-size: 12pt;">After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true,
      complete and correct.</div>
    <div><br>
    </div>
    <div><br>
    </div>
    <table cellspacing="0" cellpadding="0" id="z7d1f021957224109ae87be2dba8067ae" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

        <tr>
          <td style="width: 50%; vertical-align: top;">&#160;</td>
          <td style="width: 50%; vertical-align: top;">
            <div style="text-align: justify; font-size: 12pt; font-weight: bold;">MAGYAR BANK</div>
            <div style="font-size: 12pt; font-weight: bold;">EMPLOYEE STOCK OWNERSHIP</div>
            <div style="text-align: justify; font-size: 12pt; font-weight: bold;">PLAN TRUST</div>
          </td>
        </tr>
        <tr>
          <td style="width: 50%; vertical-align: top;">&#160;</td>
          <td style="width: 50%; vertical-align: top;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 50%; vertical-align: top;">
            <div style="font-size: 12pt;">Date: January 29, 2024</div>
          </td>
          <td style="width: 50%; vertical-align: top;">
            <div style="font-size: 12pt;">By: TI-Trust, Inc., Trustee</div>
          </td>
        </tr>
        <tr>
          <td style="width: 50%; vertical-align: top;">&#160;</td>
          <td style="width: 50%; vertical-align: top;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 50%; vertical-align: top;">&#160;</td>
          <td style="width: 50%; vertical-align: top;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 50%; vertical-align: top;">&#160;</td>
          <td style="width: 50%; vertical-align: top;">&#160;<u><font style="font-size: 12pt;">/s/ Craig Baker</font></u><br>
          </td>
        </tr>
        <tr>
          <td style="width: 50%; vertical-align: top;">&#160;</td>
          <td style="width: 50%; vertical-align: top;">
            <div style="font-size: 12pt;">Name: Craig Baker</div>
          </td>
        </tr>
        <tr>
          <td style="width: 50%; vertical-align: top;">&#160;</td>
          <td style="width: 50%; vertical-align: top;">
            <div style="font-size: 12pt;">Title: Vice President</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
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