**UNITED      STATES**

**SECURITIES      AND EXCHANGE COMMISSION**

**WASHINGTON,      D.C. 20549**

**FORM      8-K**

**CURRENT      REPORT**

**MAGYAR      BANCORP, INC.**

| Delaware                                                                                         |   0-51726             |   20-4154978             |
|--------------------------------------------------------------------------------------------------|--------------------------------------|------------------------------------|
| (State                or Other Jurisdiction)                                                     | (Commission                File No.) | (I.R.S.                Employer    |
| of                Incorporation)                                                                 |                                 | Identification                No.) |
|                                                                                             |                                 |                               |
|                                                                                             |                                 |                               |
| 400                Somerset Street, New Brunswick, New Jersey                                    |                                 | 08901                              |
| (Address                of Principal Executive Offices)                                          |                                 | (Zip                Code)          |
|                                                                                             |                                 |                               |
| Registrant's                telephone number, including area code: (732)                342-7600 |

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**Item        5.02.**
**Departure        of Directors or Principal Officers; Election of Directors; Appointment of        Principal Officers; Compensatory Arrangements of Certain        Officers.**

|                           |                                                                          |
|--------------------------------|-------------------------------------------------------------------------------|
| **Item                  9.01** | **Financial                  Statements and Exhibits**                        |
|                           |                                                                          |
| (a)                            | Financial                  statements of businesses acquired. Not Applicable. |
|                           |                                                                          |
| (b)                            | Pro                  forma financial information. Not Applicable.             |
|                           |                                                                          |
| (c)                            | Shell                  company transactions. Not Applicable                   |
|                           |                                                                          |
| (d)                            | Exhibits.                                                                     |
|                           |                                                                          |
|                           | 99.1:                  Press Release dated January 3,                  2007.  |

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**SIGNATURES**

|                                 | **MAGYAR                BANCORP, INC.** |                                                 |
|--------------------------------------|-----------------------------------------|------------------------------------------------------|
|                                 |                                    |                                                 |   |
|                                 |                                    |                                                 |   |
|                                 |                                    |                                                 |   |
| DATE:                January 4, 2007 | By:                                     | /s/                Elizabeth E. Hance                |   |
|                                 |                                    | Elizabeth                E. Hance                    |   |
|                                 |                                    | President                and Chief Executive Officer |   |