# EDGAR Filing Document

**Accession Number:** 0001569147
**File Stem:** 0000897069-23-000053
**Filing Date:** 2023-2
**Character Count:** 39318
**Document Hash:** 015cba9da3c98c84b73d689bafbba176
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000897069-23-000053.hdr.sgml**: 20230207

**ACCESSION NUMBER**: 0000897069-23-000053

**CONFORMED SUBMISSION TYPE**: SC 13D/A

**PUBLIC DOCUMENT COUNT**: 3

**FILED AS OF DATE**: 20230207

**DATE AS OF CHANGE**: 20230207

**SUBJECT COMPANY**: 

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

**FILING VALUES:**
- **FORM TYPE:** SC 13D/A
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 005-81304
- **FILM NUMBER:** 23593282

**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:** PL Capital Advisors, LLC
- **CENTRAL INDEX KEY:** 0001569147
- **IRS NUMBER:** 204155863
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** SC 13D/A

**BUSINESS ADDRESS:**
- **STREET 1:** 750 ELEVENTH STREET SOUTH, SUITE 202
- **CITY:** NAPLES
- **STATE:** FL
- **ZIP:** 34102
- **BUSINESS PHONE:** 239-777-0187

**MAIL ADDRESS:**
- **STREET 1:** 750 ELEVENTH STREET SOUTH, SUITE 202
- **CITY:** NAPLES
- **STATE:** FL
- **ZIP:** 34102

1 of 12 Pages

CUSIP No. 55977T208

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

SCHEDULE 13D/A

Amendment No. 9

Under the Securities Exchange Act of 1934

#### MAGYAR BANCORP, INC.
(Name of Issuer)

<u>Common Stock, $.01 per share</u>

(Title of Class of Securities)

<u>55977T208</u>

(CUSIP Number)

Mr. John W. Palmer

PL Capital Advisors, LLC

750 Eleventh Street South

Suite 202

Naples, FL 34102

<u>(239) 777-0187</u>

(Name, Address and Telephone Number of Person

Authorized to Receive Notices and Communications)

- with copies to -

Phillip M. Goldberg Foley & Lardner LLP 321 North Clark Street Suite 2800 Chicago, IL 60654-5313 (312) 832-4549 Peter D. Fetzer Foley & Lardner LLP 777 East Wisconsin Avenue Suite 3800 Milwaukee, WI 53202-5306 (414) 297-5596

<u>January 31, 2023</u>

(Date of Event which Requires Filing of this Statement)

If the filing person has previously filed a statement on Schedule 13G to report the acquisition which is the subject of this Schedule 13D, and is filing this schedule because of Rule 13d-1(b)(3) or (4), check the following box ⬜.

------

2 of 12 Pages

CUSIP No. 55977T208

---

| | | | | |
|:---|:---|:---|:---|:---|
| **1** | NAME OF REPORTING PERSON<br> **PL Capital Advisors, LLC** | NAME OF REPORTING PERSON<br> **PL Capital Advisors, LLC** | NAME OF REPORTING PERSON<br> **PL Capital Advisors, LLC** |  |
| **2** | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP | &nbsp;&nbsp;&nbsp;&nbsp;(a) ☒<br> &nbsp;&nbsp;&nbsp;&nbsp;(b) ☐ |
| **3** | SEC USE ONLY | SEC USE ONLY | SEC USE ONLY |  |
| **4** | SOURCE OF FUNDS<br> **WC** | SOURCE OF FUNDS<br> **WC** | SOURCE OF FUNDS<br> **WC** |  |
| **5** | CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) | CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) | CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) | ☐ |
| **6** | CITIZENSHIP OR PLACE OF ORGANIZATION<br> **Delaware** | CITIZENSHIP OR PLACE OF ORGANIZATION<br> **Delaware** | CITIZENSHIP OR PLACE OF ORGANIZATION<br> **Delaware** |  |
| **NUMBER OF**<br> **SHARES**<br> **BENEFICIALLY**<br> **OWNED BY**<br> **EACH**<br> **REPORTING**<br> **PERSON**<br> **WITH** | **NUMBER OF**<br> **SHARES**<br> **BENEFICIALLY**<br> **OWNED BY**<br> **EACH**<br> **REPORTING**<br> **PERSON**<br> **WITH** | **7** | SOLE VOTING POWER<br> **0** |  |
| **NUMBER OF**<br> **SHARES**<br> **BENEFICIALLY**<br> **OWNED BY**<br> **EACH**<br> **REPORTING**<br> **PERSON**<br> **WITH** | **NUMBER OF**<br> **SHARES**<br> **BENEFICIALLY**<br> **OWNED BY**<br> **EACH**<br> **REPORTING**<br> **PERSON**<br> **WITH** | **8** | SHARED VOTING POWER<br> **268,557** |  |
| **NUMBER OF**<br> **SHARES**<br> **BENEFICIALLY**<br> **OWNED BY**<br> **EACH**<br> **REPORTING**<br> **PERSON**<br> **WITH** | **NUMBER OF**<br> **SHARES**<br> **BENEFICIALLY**<br> **OWNED BY**<br> **EACH**<br> **REPORTING**<br> **PERSON**<br> **WITH** | **9** | SOLE DISPOSITIVE POWER<br> **0** |  |
| **NUMBER OF**<br> **SHARES**<br> **BENEFICIALLY**<br> **OWNED BY**<br> **EACH**<br> **REPORTING**<br> **PERSON**<br> **WITH** | **NUMBER OF**<br> **SHARES**<br> **BENEFICIALLY**<br> **OWNED BY**<br> **EACH**<br> **REPORTING**<br> **PERSON**<br> **WITH** | **10** | SHARED DISPOSITIVE POWER<br> **268,557** |  |
| **11** | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON<br> **268,557** | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON<br> **268,557** | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON<br> **268,557** |  |
| **12** | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES | ☐ |
| **13** | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)<br> **4.0%** | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)<br> **4.0%** | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)<br> **4.0%** |  |
| **14** | TYPE OF REPORTING PERSON<br> **IA** | TYPE OF REPORTING PERSON<br> **IA** | TYPE OF REPORTING PERSON<br> **IA** |  |

---

------

3 of 12 Pages

CUSIP No. 55977T208

---

| | | | | |
|:---|:---|:---|:---|:---|
| **1** | NAME OF REPORTING PERSON<br> **John W. Palmer** | NAME OF REPORTING PERSON<br> **John W. Palmer** | NAME OF REPORTING PERSON<br> **John W. Palmer** |  |
| **2** | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP | &nbsp;&nbsp;&nbsp;&nbsp;(a) ☒<br> &nbsp;&nbsp;&nbsp;&nbsp;(b) ☐ |
| **3** | SEC USE ONLY | SEC USE ONLY | SEC USE ONLY |  |
| **4** | SOURCE OF FUNDS<br> **WC, PF** | SOURCE OF FUNDS<br> **WC, PF** | SOURCE OF FUNDS<br> **WC, PF** |  |
| **5** | CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) | CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) | CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) | ☐ |
| **6** | CITIZENSHIP OR PLACE OF ORGANIZATION<br> **USA** | CITIZENSHIP OR PLACE OF ORGANIZATION<br> **USA** | CITIZENSHIP OR PLACE OF ORGANIZATION<br> **USA** |  |
| **NUMBER OF**<br> **SHARES**<br> **BENEFICIALLY**<br> **OWNED BY**<br> **EACH**<br> **REPORTING**<br> **PERSON**<br> **WITH** | **NUMBER OF**<br> **SHARES**<br> **BENEFICIALLY**<br> **OWNED BY**<br> **EACH**<br> **REPORTING**<br> **PERSON**<br> **WITH** | **7** | SOLE VOTING POWER<br> **1,403** |  |
| **NUMBER OF**<br> **SHARES**<br> **BENEFICIALLY**<br> **OWNED BY**<br> **EACH**<br> **REPORTING**<br> **PERSON**<br> **WITH** | **NUMBER OF**<br> **SHARES**<br> **BENEFICIALLY**<br> **OWNED BY**<br> **EACH**<br> **REPORTING**<br> **PERSON**<br> **WITH** | **8** | SHARED VOTING POWER<br> **268,557** |  |
| **NUMBER OF**<br> **SHARES**<br> **BENEFICIALLY**<br> **OWNED BY**<br> **EACH**<br> **REPORTING**<br> **PERSON**<br> **WITH** | **NUMBER OF**<br> **SHARES**<br> **BENEFICIALLY**<br> **OWNED BY**<br> **EACH**<br> **REPORTING**<br> **PERSON**<br> **WITH** | **9** | SOLE DISPOSITIVE POWER<br> **1,403** |  |
| **NUMBER OF**<br> **SHARES**<br> **BENEFICIALLY**<br> **OWNED BY**<br> **EACH**<br> **REPORTING**<br> **PERSON**<br> **WITH** | **NUMBER OF**<br> **SHARES**<br> **BENEFICIALLY**<br> **OWNED BY**<br> **EACH**<br> **REPORTING**<br> **PERSON**<br> **WITH** | **10** | SHARED DISPOSITIVE POWER<br> **268,557** |  |
| **11** | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON<br> **269,960** | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON<br> **269,960** | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON<br> **269,960** |  |
| **12** | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES | ☐ |
| **13** | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)<br> **4.0%** | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)<br> **4.0%** | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)<br> **4.0%** |  |
| **14** | TYPE OF REPORTING PERSON<br> **IN** | TYPE OF REPORTING PERSON<br> **IN** | TYPE OF REPORTING PERSON<br> **IN** |  |

---

------

4 of 12 Pages

CUSIP No. 55977T208

---

| | | | | |
|:---|:---|:---|:---|:---|
| **1** | NAME OF REPORTING PERSON<br> **Richard J. Lashley** | NAME OF REPORTING PERSON<br> **Richard J. Lashley** | NAME OF REPORTING PERSON<br> **Richard J. Lashley** |  |
| **2** | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP | &nbsp;&nbsp;&nbsp;&nbsp;(a) ☒<br> &nbsp;&nbsp;&nbsp;&nbsp;(b) ☐ |
| **3** | SEC USE ONLY | SEC USE ONLY | SEC USE ONLY |  |
| **4** | SOURCE OF FUNDS<br> **WC, PF** | SOURCE OF FUNDS<br> **WC, PF** | SOURCE OF FUNDS<br> **WC, PF** |  |
| **5** | CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) | CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) | CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) | ☐ |
| **6** | CITIZENSHIP OR PLACE OF ORGANIZATION<br> **USA** | CITIZENSHIP OR PLACE OF ORGANIZATION<br> **USA** | CITIZENSHIP OR PLACE OF ORGANIZATION<br> **USA** |  |
| **NUMBER OF**<br> **SHARES**<br> **BENEFICIALLY**<br> **OWNED BY**<br> **EACH**<br> **REPORTING**<br> **PERSON**<br> **WITH** | **NUMBER OF**<br> **SHARES**<br> **BENEFICIALLY**<br> **OWNED BY**<br> **EACH**<br> **REPORTING**<br> **PERSON**<br> **WITH** | **7** | SOLE VOTING POWER<br> **0** |  |
| **NUMBER OF**<br> **SHARES**<br> **BENEFICIALLY**<br> **OWNED BY**<br> **EACH**<br> **REPORTING**<br> **PERSON**<br> **WITH** | **NUMBER OF**<br> **SHARES**<br> **BENEFICIALLY**<br> **OWNED BY**<br> **EACH**<br> **REPORTING**<br> **PERSON**<br> **WITH** | **8** | SHARED VOTING POWER<br> **307,347** |  |
| **NUMBER OF**<br> **SHARES**<br> **BENEFICIALLY**<br> **OWNED BY**<br> **EACH**<br> **REPORTING**<br> **PERSON**<br> **WITH** | **NUMBER OF**<br> **SHARES**<br> **BENEFICIALLY**<br> **OWNED BY**<br> **EACH**<br> **REPORTING**<br> **PERSON**<br> **WITH** | **9** | SOLE DISPOSITIVE POWER<br> **0** |  |
| **NUMBER OF**<br> **SHARES**<br> **BENEFICIALLY**<br> **OWNED BY**<br> **EACH**<br> **REPORTING**<br> **PERSON**<br> **WITH** | **NUMBER OF**<br> **SHARES**<br> **BENEFICIALLY**<br> **OWNED BY**<br> **EACH**<br> **REPORTING**<br> **PERSON**<br> **WITH** | **10** | SHARED DISPOSITIVE POWER<br> **307,347** |  |
| **11** | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON<br> **307,347** | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON<br> **307,347** | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON<br> **307,347** |  |
| **12** | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES | ☐ |
| **13** | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)<br> **4.6%** | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)<br> **4.6%** | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)<br> **4.6%** |  |
| **14** | TYPE OF REPORTING PERSON<br> **IN** | TYPE OF REPORTING PERSON<br> **IN** | TYPE OF REPORTING PERSON<br> **IN** |  |

---

------

5 of 12 Pages

CUSIP No. 55977T208

---

| | | | | |
|:---|:---|:---|:---|:---|
| **1** | NAME OF REPORTING PERSON<br> **Lashley Family 2012 Trust** | NAME OF REPORTING PERSON<br> **Lashley Family 2012 Trust** | NAME OF REPORTING PERSON<br> **Lashley Family 2012 Trust** |  |
| **2** | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP | &nbsp;&nbsp;&nbsp;&nbsp;(a) ☒<br> &nbsp;&nbsp;&nbsp;&nbsp;(b) ☐ |
| **3** | SEC USE ONLY | SEC USE ONLY | SEC USE ONLY |  |
| **4** | SOURCE OF FUNDS<br> **PF** | SOURCE OF FUNDS<br> **PF** | SOURCE OF FUNDS<br> **PF** |  |
| **5** | CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) | CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) | CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) | ☐ |
| **6** | CITIZENSHIP OR PLACE OF ORGANIZATION<br> **USA** | CITIZENSHIP OR PLACE OF ORGANIZATION<br> **USA** | CITIZENSHIP OR PLACE OF ORGANIZATION<br> **USA** |  |
| **NUMBER OF**<br> **SHARES**<br> **BENEFICIALLY**<br> **OWNED BY**<br> **EACH**<br> **REPORTING**<br> **PERSON**<br> **WITH** | **NUMBER OF**<br> **SHARES**<br> **BENEFICIALLY**<br> **OWNED BY**<br> **EACH**<br> **REPORTING**<br> **PERSON**<br> **WITH** | **7** | SOLE VOTING POWER<br>|  |
| **NUMBER OF**<br> **SHARES**<br> **BENEFICIALLY**<br> **OWNED BY**<br> **EACH**<br> **REPORTING**<br> **PERSON**<br> **WITH** | **NUMBER OF**<br> **SHARES**<br> **BENEFICIALLY**<br> **OWNED BY**<br> **EACH**<br> **REPORTING**<br> **PERSON**<br> **WITH** | **8** | SHARED VOTING POWER<br> **38,790** |  |
| **NUMBER OF**<br> **SHARES**<br> **BENEFICIALLY**<br> **OWNED BY**<br> **EACH**<br> **REPORTING**<br> **PERSON**<br> **WITH** | **NUMBER OF**<br> **SHARES**<br> **BENEFICIALLY**<br> **OWNED BY**<br> **EACH**<br> **REPORTING**<br> **PERSON**<br> **WITH** | **9** | SOLE DISPOSITIVE POWER<br>|  |
| **NUMBER OF**<br> **SHARES**<br> **BENEFICIALLY**<br> **OWNED BY**<br> **EACH**<br> **REPORTING**<br> **PERSON**<br> **WITH** | **NUMBER OF**<br> **SHARES**<br> **BENEFICIALLY**<br> **OWNED BY**<br> **EACH**<br> **REPORTING**<br> **PERSON**<br> **WITH** | **10** | SHARED DISPOSITIVE POWER<br> **38,790** |  |
| **11** | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON<br> **38,790** | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON<br> **38,790** | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON<br> **38,790** |  |
| **12** | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES  | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES  | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES  | ☐ |
| **13** | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)<br> **0.6%** | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)<br> **0.6%** | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)<br> **0.6%** |  |
| **14** | TYPE OF REPORTING PERSON<br> **OO** | TYPE OF REPORTING PERSON<br> **OO** | TYPE OF REPORTING PERSON<br> **OO** |  |

---

------

6 of 12 Pages

CUSIP No. 55977T208

---

| | | | | |
|:---|:---|:---|:---|:---|
| **1** | NAME OF REPORTING PERSON<br> **Beth R. Lashley** | NAME OF REPORTING PERSON<br> **Beth R. Lashley** | NAME OF REPORTING PERSON<br> **Beth R. Lashley** |  |
| **2** | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP | &nbsp;&nbsp;&nbsp;&nbsp;(a) ☒<br> &nbsp;&nbsp;&nbsp;&nbsp;(b) ☐ |
| **3** | SEC USE ONLY | SEC USE ONLY | SEC USE ONLY |  |
| **4** | SOURCE OF FUNDS<br> **PF** | SOURCE OF FUNDS<br> **PF** | SOURCE OF FUNDS<br> **PF** |  |
| **5** | CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) | CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) | CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) | ☐ |
| **6** | CITIZENSHIP OR PLACE OF ORGANIZATION<br> **USA** | CITIZENSHIP OR PLACE OF ORGANIZATION<br> **USA** | CITIZENSHIP OR PLACE OF ORGANIZATION<br> **USA** |  |
| **NUMBER OF**<br> **SHARES**<br> **BENEFICIALLY**<br> **OWNED BY**<br> **EACH**<br> **REPORTING**<br> **PERSON**<br> **WITH** | **NUMBER OF**<br> **SHARES**<br> **BENEFICIALLY**<br> **OWNED BY**<br> **EACH**<br> **REPORTING**<br> **PERSON**<br> **WITH** | **7** | SOLE VOTING POWER<br>|  |
| **NUMBER OF**<br> **SHARES**<br> **BENEFICIALLY**<br> **OWNED BY**<br> **EACH**<br> **REPORTING**<br> **PERSON**<br> **WITH** | **NUMBER OF**<br> **SHARES**<br> **BENEFICIALLY**<br> **OWNED BY**<br> **EACH**<br> **REPORTING**<br> **PERSON**<br> **WITH** | **8** | SHARED VOTING POWER<br> **10,701** |  |
| **NUMBER OF**<br> **SHARES**<br> **BENEFICIALLY**<br> **OWNED BY**<br> **EACH**<br> **REPORTING**<br> **PERSON**<br> **WITH** | **NUMBER OF**<br> **SHARES**<br> **BENEFICIALLY**<br> **OWNED BY**<br> **EACH**<br> **REPORTING**<br> **PERSON**<br> **WITH** | **9** | SOLE DISPOSITIVE POWER<br>|  |
| **NUMBER OF**<br> **SHARES**<br> **BENEFICIALLY**<br> **OWNED BY**<br> **EACH**<br> **REPORTING**<br> **PERSON**<br> **WITH** | **NUMBER OF**<br> **SHARES**<br> **BENEFICIALLY**<br> **OWNED BY**<br> **EACH**<br> **REPORTING**<br> **PERSON**<br> **WITH** | **10** | SHARED DISPOSITIVE POWER<br> **10,701** |  |
| **11** | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON<br> **10,701** | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON<br> **10,701** | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON<br> **10,701** |  |
| **12** | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES | ☐ |
| **13** | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)<br> **0.2%** | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)<br> **0.2%** | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)<br> **0.2%** |  |
| **14** | TYPE OF REPORTING PERSON<br> **IN** | TYPE OF REPORTING PERSON<br> **IN** | TYPE OF REPORTING PERSON<br> **IN** |  |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **1** | NAME OF REPORTING PERSON<br> **Lashley Family 2011 Trust** | NAME OF REPORTING PERSON<br> **Lashley Family 2011 Trust** | NAME OF REPORTING PERSON<br> **Lashley Family 2011 Trust** |  |
| **2** | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP | &nbsp;&nbsp;&nbsp;&nbsp;(a) ☒<br> &nbsp;&nbsp;&nbsp;&nbsp;(b) ☐ |
| **3** | SEC USE ONLY | SEC USE ONLY | SEC USE ONLY |  |
| **4** | SOURCE OF FUNDS<br> **PF** | SOURCE OF FUNDS<br> **PF** | SOURCE OF FUNDS<br> **PF** |  |
| **5** | CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) | CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) | CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) | ☐ |
| **6** | CITIZENSHIP OR PLACE OF ORGANIZATION<br> **USA** | CITIZENSHIP OR PLACE OF ORGANIZATION<br> **USA** | CITIZENSHIP OR PLACE OF ORGANIZATION<br> **USA** |  |
| **NUMBER OF**<br> **SHARES**<br> **BENEFICIALLY**<br> **OWNED BY**<br> **EACH**<br> **REPORTING**<br> **PERSON**<br> **WITH** | **NUMBER OF**<br> **SHARES**<br> **BENEFICIALLY**<br> **OWNED BY**<br> **EACH**<br> **REPORTING**<br> **PERSON**<br> **WITH** | **7** | SOLE VOTING POWER<br>|  |
| **NUMBER OF**<br> **SHARES**<br> **BENEFICIALLY**<br> **OWNED BY**<br> **EACH**<br> **REPORTING**<br> **PERSON**<br> **WITH** | **NUMBER OF**<br> **SHARES**<br> **BENEFICIALLY**<br> **OWNED BY**<br> **EACH**<br> **REPORTING**<br> **PERSON**<br> **WITH** | **8** | SHARED VOTING POWER<br> **10,701** |  |
| **NUMBER OF**<br> **SHARES**<br> **BENEFICIALLY**<br> **OWNED BY**<br> **EACH**<br> **REPORTING**<br> **PERSON**<br> **WITH** | **NUMBER OF**<br> **SHARES**<br> **BENEFICIALLY**<br> **OWNED BY**<br> **EACH**<br> **REPORTING**<br> **PERSON**<br> **WITH** | **9** | SOLE DISPOSITIVE POWER<br>|  |
| **NUMBER OF**<br> **SHARES**<br> **BENEFICIALLY**<br> **OWNED BY**<br> **EACH**<br> **REPORTING**<br> **PERSON**<br> **WITH** | **NUMBER OF**<br> **SHARES**<br> **BENEFICIALLY**<br> **OWNED BY**<br> **EACH**<br> **REPORTING**<br> **PERSON**<br> **WITH** | **10** | SHARED DISPOSITIVE POWER<br> **10,701** |  |
| **11** | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON<br> **10,701** | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON<br> **10,701** | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON<br> **10,701** |  |
| **12** | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES | ☐ |
| **13** | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)<br> **0.2%** | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)<br> **0.2%** | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)<br> **0.2%** |  |
| **14** | TYPE OF REPORTING PERSON<br> **OO** | TYPE OF REPORTING PERSON<br> **OO** | TYPE OF REPORTING PERSON<br> **OO** |  |

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CUSIP No. 55977T208

**Item 1.** **Security and Issuer**<br>

This amended and restated Schedule 13D relates to the common stock, $.01 par value ("<u>Common Stock</u>"), of Magyar Bancorp, Inc. (the "<u>Company</u>"). The address of the principal executive offices of the Company is 400 Somerset Street, New Brunswick, New Jersey 08901.

As a result of the transaction reported herein, the Reporting Persons no longer beneficially own more than 5% of the Common Stock. So, upon the filing of this amendment, the Reporting Persons will cease to be reporting persons with regard to the Common Stock. <br>

**Item 2.** **Identity and Background**<br>

(a) This Schedule 13D is filed jointly by (collectively, the "<u>Reporting Persons</u>"): (1) PL Capital Advisors, LLC, a Delaware limited liability company and SEC registered investment adviser under the Investment Advisers Act of 1940 ("<u>PL Capital Advisors</u>"); (2) Richard J. Lashley, a managing member of PL Capital Advisors and Trustee of the Lashley Family 2012 Trust; (3) John W. Palmer, a managing member of PL Capital Advisors (PL Capital Advisors, Mr. Lashley, and Mr. Palmer, collectively, the "<u>PL Reporting Persons</u>"); (4) Beth R. Lashley, Trustee of the Lashley Family 2011 Trust; (5) Lashley Family 2011 Trust, an irrevocable grantor trust; and (6) Lashley Family 2012 Trust, an irrevocable grantor trust, as these parties are deemed to constitute a "group" for purposes of Section 13(d)(3) of the Securities Exchange Act of 1934, as amended (the "<u>Exchange Act</u>"), by virtue of them coordinating their activities with regard to the Company. The joint filing agreement of the Reporting Persons is attached as <u>Exhibit 1</u> hereto.

<br> (b) The principal business address of the PL Reporting Persons is 750 Eleventh Street South, Suite 202, Naples, FL 34102. The address of Beth R. Lashley, Lashley Family 2011 Trust, and Lashley Family 2012 Trust is 415 L'Ambiance Drive, Unit E-707, Longboat Key, FL 34228.

(c) The principal business of PL Capital Advisors is to serve as an investment manager or adviser to various investment partnerships, funds and managed accounts (collectively, the "<u>Clients</u>"). The principal occupation of Messrs. Lashley and Palmer is investment management through their ownership and control over the affairs of PL Capital Advisors. PL Capital Advisors has voting and dispositive power over the Common Stock held by the Clients. As PL Capital Advisors is controlled by its two Managing Members, the Managing Members also have voting and dispositive power over the Common Stock held by the Clients. The Clients do not have the right to acquire voting or dispositive power over the Common Stock within sixty days, and do not have voting or dispositive power over the Common Stock. The principal business of the Lashley Family 2011 Trust and Lashley Family 2012 Trust is to hold investments, and the Trusts have voting and dispositive power over the Common Stock held by them. As the Trustee of the Lashley Family 2011 Trust, Ms. Lashley has the power to direct the activities of the Trust and has voting and dispositive power over shares of Common Stock held by the Trust. As the Trustee of the Lashley Family 2012 Trust, Mr. Lashley has the power to direct the activities of the Trust and has voting and dispositive power over shares of Common Stock held by the Trust.

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CUSIP No. 55977T208

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| | |
|:---|:---|
| (d)-(e) | During the last five years, none of the Reporting Persons (i) has been convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors) or (ii) has been a party to a civil proceeding of a judicial or administrative body of competent jurisdiction and as a result of such proceedings was or is subject to a judgment, decree, or final order enjoining future violations of, or prohibiting or mandating activities subject to, federal or state securities laws or finding any violations with respect at such laws. |

---

<br> (f) Richard Lashley, John Palmer and Beth R. Lashley are citizens of the United States.

**Item 3.** **Source and Amount of Funds or Other Consideration**<br>

In aggregate, the Reporting Persons have voting and dispositive power over 319,451 shares of Common Stock acquired at an aggregate cost of $1,540,333.

The PL Reporting Persons have voting and dispositive power over 268,557 shares of Common Stock acquired at an aggregate cost of $1,217,404 and held by the Clients, using working capital.

Mr. Lashley has voting and dispositive power over 38,790 shares of Common Stock acquired at an aggregate cost of $278,231, using personal funds, and held by the Lashley Family 2012 Trust, an irrevocable trust for which Mr. Lashley is Trustee and beneficiary.

Mr. Palmer has sole voting and dispositive power over 1,403 shares of Common Stock acquired at an aggregate cost of $11,056, using personal funds, and held in his IRA.

Ms. Lashley has voting and dispositive power over 10,701 shares of Common Stock acquired at an aggregate cost of $33,643, using personal funds, and held by the Lashley Family 2011 Trust, an irrevocable trust for which Ms. Lashley is Trustee and beneficiary.

PL Capital Advisors disclaims beneficial ownership of such Common Stock, except to the extent of its pecuniary interest therein.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;From time to time, the PL Reporting Persons may have purchased or held Common Stock on margin provided by Goldman Sachs & Co. on such firm's usual terms and conditions. All or part of the shares of Common Stock owned by the Clients may from time to time be pledged with Goldman Sachs & Co. or other banking institutions or brokerage firms as collateral for loans

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CUSIP No. 55977T208

made by such entities to the Clients. Such loans, if any, generally bear interest at a rate based upon the federal funds rate plus a margin. Such indebtedness, if any, may be refinanced with other banks or broker-dealers. As of the date of this filing no Clients have margin or other loans outstanding secured by Common Stock other than Financial Edge Strategic Fund, LP. As of the date of this filing, Mr. Palmer's IRA has no margin or other loans secured by Common Stock. As of the date of this filing, neither the Lashley Family 2011 Trust nor the Lashley Family 2012 Trust have margin or other loans secured by Common Stock.

**Item 4.** **Purpose of Transaction**<br>

This is the ninth amendment to the initial Schedule 13D. In the aggregate, the Reporting Persons own 319,451 shares of Common Stock, representing 4.7% of the Company's outstanding common stock, based upon the Company's total outstanding shares as of December 22, 2022. The Reporting Persons acquired the Common Stock because they believed the Common Stock was undervalued at the time of purchase.

On January 31, 2023, the PL Reporting Persons sold 50,000 shares of Common Stock held by the Clients to Magyar Bancorp in a negotiated transaction for $12.92 per share, pursuant to a Common Stock Purchase Agreement dated January 31, 2023, a copy of which is attached as Exhibit 3 to this filing.

The Reporting Persons intend to monitor the performance and corporate governance of the Company, as well as the actions of the Company's management and board. As it deems necessary, the Reporting Persons will assert their stockholder rights.

The Reporting Persons may make purchases of shares of Common Stock in the future and may also dispose of any or all the shares of Common Stock held by them.

To the extent the actions described herein may be deemed to constitute a "control purpose" with respect to the Securities Exchange Act of 1934, as amended, and the regulations thereunder, the Reporting Persons have such a purpose. Except as noted in this Schedule 13D, the Reporting Persons do not have any plans or proposals, which relate to, or would result in, any of the matters referred to in paragraphs (b) through (j), inclusive of Item (4) of Schedule 13D. The Reporting Persons may, at any time and from time to time, review or reconsider their positions and formulate plans or proposals with respect thereto.

**Item 5. Interest in Securities of the Company**

The percentages used in this Schedule 13D are calculated based upon the number of outstanding shares of Common Stock, 6,742,934, reported as the number of outstanding shares as of December 15, 2022, in the Company's Annual Report on Form 10-K filed on December 22, 2022.

Because Messrs. Palmer and Lashley are the Managing Members of PL Capital Advisors, the investment manager or adviser to the Clients, they are deemed to have voting and dispositive power over the shares of Common Stock managed by PL Capital Advisors on behalf of the Clients. Because Mr. Lashley is the Trustee of the Lashley Family 2012 Trust, he is deemed

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CUSIP No. 55977T208

to have voting and dispositive power over the shares of Common Stock held by the Lashley Family 2012 Trust. Because Ms. Lashley is the Trustee of the Lashley Family 2011 Trust, she is deemed to have voting and dispositive power over the shares of Common Stock held by the Lashley Family 2011 Trust.

PL Capital Advisors made transactions in the Common Stock on behalf of the Clients within the past 60 days as noted below. Messrs. Palmer and Lashley did not have any transactions in the Common Stock other than the transactions effected by PL Capital Advisors on behalf of the Clients. The Lashley Family 2011 Trust and the Lashley Family 2012 Trust did not have any transactions in the Common Stock within the past 60 days.

<u>PL Capital Advisors Transactions Common Stock</u>

(a)-(b) See cover page.

<br> (c) On behalf of the Clients, PL Capital Advisors made sales (and no purchases) of Common Stock in the past sixty days, as noted below:

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| | | | |
|:---|:---|:---|:---|
| Trade Date | Number of Shares Purchased | Price Per Share | Where and How Transaction Effected |
| 1/31/2023 | 50000 | $12.92 | Negotiated transaction with Magyar Bancorp Inc. |

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| | |
|:---|:---|
| **Item 6.** | **Contracts, Arrangements, Understandings or Relationships with Respect to Securities of the Company.** |

---

PL Capital Advisors is the investment manager on behalf of the Clients. Each of the Clients has granted to PL Capital Advisors the sole and exclusive authority to vote and dispose of the shares of Common Stock held on their behalf pursuant to a management agreement. PL Capital Advisors is entitled to a fee for managing and advising these Clients, generally based upon a percentage of the Clients' capital. Affiliates of PL Capital Advisors, including PL Capital, LLC and Goodbody/PL Capital LLC, serve as the general partner of various partnerships managed and advised by PL Capital Advisors, including Financial Edge Fund, L.P., Financial Edge-Strategic Fund, L.P., PL Capital/Focused Fund, L.P., and Goodbody/PL Capital, L.P., each a Delaware limited partnership. For serving as the general partner of these partnerships, PL Capital Advisors' affiliates are entitled to an allocation of a portion of net profits, if any, generated by the partnerships.

**Item 7.** **Material to be Filed as Exhibits**<br>

<u>Exhibit No.</u> <u>Description</u> <br>

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CUSIP No. 55977T208

99.1 [Joint Filing Agreement –](https://www.sec.gov/Archives/edgar/data/1569147/000089706922000537/plca.htm) Filed Previously.

99.2 [Common Stock Purchase Agreement dated 9/14/2022–](https://www.sec.gov/Archives/edgar/data/1569147/000089706922000537/plcb.htm) Filed Previously.

99.3 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Common Stock Purchase Agreement dated 1/31/2023 – Filed Herewith.

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CUSIP No. 55977T208

#### SIGNATURES

After reasonable inquiry and to the best of our knowledge and belief, we certify that the information set forth in this statement is true, complete and correct.

Dated: February 7, 2023

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; PL CAPITAL ADVISORS, LLC<br>By: <u>/s/ John W. Palmer</u>&nbsp;&nbsp;&nbsp;&nbsp; <u>/s/ Richard J. Lashley</u> <br> &nbsp;&nbsp;&nbsp;&nbsp; John W. Palmer&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Richard J. Lashley<br> &nbsp;&nbsp;&nbsp;&nbsp; Managing Member&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Managing Member<br>

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| |
|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br> By: <u>/s/ John W. Palmer</u><br> &nbsp;&nbsp;&nbsp;&nbsp; John W. Palmer<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br> By: <u>/s/ Richard J. Lashley</u><br> &nbsp;&nbsp;&nbsp;&nbsp; Richard J. Lashley<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br> By: <u>/s/ Beth R. Lashley</u><br> &nbsp;&nbsp;&nbsp;&nbsp; Beth R. Lashley<br>|

---

LASHLEY FAMILY 2012 TRUST

By:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <u>/s/ Richard J. Lashey</u>

&nbsp;&nbsp;&nbsp;&nbsp; Richard J. Lashley

&nbsp;&nbsp;&nbsp;&nbsp; Trustee

LASHLEY FAMILY 2011 TRUST

By: <u>/s/ Beth R. Lashey</u>

&nbsp;&nbsp;&nbsp;&nbsp;Beth R. Lashley

&nbsp;&nbsp;&nbsp;&nbsp;Trustee

## Exhibit 99.1

SEE ATTACHED.<br>

### Attached PDF Documents

**Attachment 1:** `99.pdf`

# COMMON STOCK PURCHASE AGREEMENT

THIS COMMON STOCK PURCHASE AGREEMENT (the "Agreement") is entered into as of January 31, 2023 by and between Magyar Bancorp, a Delaware corporation (the "Company"), and PL Capital LLC and its affiliates including Financial Edge Fund, L.P., Financial Edge - Strategic Fund, L.P., Goodbody/PL Capital, L.P., Goodbody/PL Capital, LLC, PL Capital Advisors, LLC, John W. Palmer, Richard J. Lashley, Beth R. Lashley, Lashley Family 2012 Trust, Lashley Family 2011 Trust and PL Capital/Focused Fund, L.P. (collectively, the "Stockholder").

# RECITALS

WHEREAS, the Stockholder desires to sell, and the Company desires to purchase from Stockholder 50,000 shares of the Company's common stock, par value $0.01 per share (the "Shares") on the terms and subject to the conditions set forth in this Agreement (the "Purchase").

NOW, THEREFORE, in consideration of the promises, covenants and agreements herein contained, the parties agree as follows:

# AGREEMENT

# SECTION 1. PURCHASE OF SHARES.

1.1 Purchase. The Company hereby agrees to purchase from the Financial Edge - Strategic Fund, LP ("the Fund") and the Fund hereby agrees to sell, assign and transfer to the Company, all of the Fund's right, title and interest in and to the Shares at the per share price of $12.92, for an aggregate purchase price of $646,000 (the "Purchase Amount").
1.2 Delivery of Shares. The Stockholder shall deliver or cause to be delivered the Shares to the Company's transfer agent, American Stock Transfer & Trust Company, LLC ("AST") pursuant to instructions to be provided by the Company.
1.3 Delivery of Purchase Amount. Upon receipt of confirmation from AST of its receipt of the Shares, the Purchase Amount shall be paid by the Company to the Fund by wire transfer of immediately available funds.

# SECTION 2. REPRESENTATIONS AND WARRANTIES.

In connection with the transactions provided for hereby, the Stockholder represents and warrants to the Company as follows:

2.1 Ownership of Shares. The Stockholder has good and marketable right, title and interest (legal and beneficial) in and to all of the Shares, free and clear of all liens, pledges, security interests, charges, claims, equity or encumbrances of any kind. Upon paying for the Shares in accordance with this Agreement, the Company will acquire good and marketable title to the Shares, free and clear of all liens, pledges, security interests, charges, claims, equity or encumbrances of any kind.
2.2 Authorization. The Stockholder has all necessary power and authority to execute, deliver and perform the Stockholder's obligations under this Agreement and to sell and deliver (Clients/1233/00413856.DOCX/2)

the Shares being sold hereunder, and this Agreement constitutes a valid and binding obligation of the Stockholder.

2.3 No Conflict. The execution and delivery of this Agreement and the consummation of the transactions contemplated hereby will not result in a breach by the Stockholder of, or constitute a default by the Stockholder under, any agreement, instrument, decree, judgment or order to which the Stockholder is a party or by which the Stockholder may be bound.

2.4 Access to Information. The Stockholder has received all of the information that the Stockholder considers necessary or appropriate for deciding whether to sell the Shares hereunder and perform the other transactions contemplated hereby. The Stockholder further represents that the Stockholder has had an opportunity to ask questions and receive answers from the Company regarding the business, properties, prospects and financial condition of the Company and to seek from the Company such additional information as the Stockholder has deemed necessary to verify the accuracy of any such information furnished or otherwise made available to the Stockholder by or on behalf of the Company.

[Signature Page Follows]

{Clients/1233/00413856.DOCX/2}

2

IN WITNESS WHEREOF, each of the parties has executed this Common Stock Repurchase Agreement as of the day and year first above written.

**COMPANY:**

Magyar Bancorp, Inc.

By:

John S. Fitzgerald
President and Chief Executive Officer

**STOCKHOLDER:**

By:

Richard J. Lashley

{Clients/1233/00413856.DOCX/2 }

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