REGULATORY CAPITAL

12 Months Ended

Sep. 30, 2014

REGULATORY CAPITAL [Abstract]

REGULATORY CAPITAL

NOTE S - REGULATORY CAPITAL

The Company and Bank are required to maintain minimum amounts of capital to total “risk-weighted” assets, as defined by the banking regulators. Failure to meet minimum capital requirements can initiate certain mandatory and possibly discretionary actions by regulators that, if undertaken, could have a direct material effect on the Company's financial statements. Under capital adequacy guidelines and the regulatory framework for prompt corrective action, the Company and Bank must meet specific capital guidelines that involve quantitative measures of the Company's and Bank's assets, liabilities, and certain off balance sheet items as calculated under regulatory accounting practices. The capital amounts and classification are also subject to qualitative judgments by the regulators about components, risk weightings and other factors.

Quantitative measures established by regulation to ensure capital adequacy require the Company and Bank to maintain minimum ratios of Leverage Capital, Tier I and Total Risk-based Capital. The following table sets forth the Company's and the Bank's actual and required capital levels under those measures:

						For capital				To be well-capitalized under prompt corrective
	Actual					adequacy purposes				action provisions
	Amount		Ratio			Amount		Ratio		Amount		Ratio
As of September 30, 2014
Total Capital (to risk-weighted assets)
Magyar Bancorp, Inc.		49,465		13.30	%		29,755		>  8.00%		N/A		N/A
Magyar Bank		47,059		12.65	%		29,754		>  8.00%		37,192		>10.00	%
Tier 1 Capital (to risk-weighted assets)
Magyar Bancorp, Inc.		46,630		12.54	%		14,878		>  4.00%		N/A		N/A
Magyar Bank		44,224		11.89	%		14,877		>  4.00%		22,315		>6.00	%
Tier 1 Capital (to average assets)
Magyar Bancorp, Inc.		46,630		8.86	%		21,060		>  4.00%		N/A		N/A
Magyar Bank		44,224		8.40	%		21,059		>  4.00%		26,324		>5.00	%
As of September 30, 2013
Total Capital (to risk-weighted assets)
Magyar Bancorp, Inc.		48,948		13.24	%		29,584		>  8.00%		N/A		N/A
Magyar Bank		46,313		12.52	%		29,582		>  8.00%		36,977		>10.00	%
Tier 1 Capital (to risk-weighted assets)
Magyar Bancorp, Inc.		45,935		12.42	%		14,792		>  4.00%		N/A		N/A
Magyar Bank		43,300		11.71	%		14,791		>  4.00%		22186		>6.00	%
Tier 1 Capital (to average assets)
Magyar Bancorp, Inc.		45,935		8.61	%		21,341		>  4.00%		N/A		N/A
Magyar Bank		43,300		8.12	%		21,340		>  4.00%		26,676		>5.00	%

The Bank has committed to the FDIC to maintain capital at or above the well capitalized level.