ORGANIZATION	12 Months Ended
Sep. 30, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
ORGANIZATION	NOTE A - ORGANIZATION Magyar Bancorp, Inc. (the “Company”) is a Delaware-chartered bank holding company. On July 14, 2021, the Company completed a second-step conversion of the Bank from the two-tier mutual holding company structure to the stock holding company structure. Magyar Bancorp, MHC was the Company’s former mutual holding company parent prior to completion of the second-step conversion. In conjunction with the second-step conversion, Magyar Bancorp, MHC ceased to exist. During the second-step conversion, the Company sold, for gross proceeds of $39.1 million, a total of 3,910,000 shares of common stock at $10.00 per share. As part of the second-step conversion, each of the existing 5,810,746 outstanding shares of Magyar Bancorp, Inc. common stock owned by persons other than Magyar Bancorp, MHC was converted into 1.2213 shares of Company common stock. As a result of the second-step conversion, all share information has been subsequently revised to reflect the 1.2213 exchange ratio, unless otherwise noted. The Company owns 100% of the outstanding common stock of Magyar Bank (the “Bank”), a New Jersey-chartered stock savings bank. The Bank offers consumer and commercial banking services to individuals, businesses, and nonprofit organizations throughout the central New Jersey area through its administrative office in New Brunswick, New Jersey and seven full-service branch offices in Middlesex and Somerset Counties in New Jersey. The Company is subject to regulation and supervision by the Board of Governors of the Federal Reserve System. The Bank is supervised and regulated by the Federal Deposit Insurance Corporation (the “FDIC”) and the New Jersey Department of Banking and Insurance. Magyar Investment Company, a New Jersey investment corporation subsidiary of the Bank, was formed on August 15, 2006 for the purpose of buying, selling and holding investment securities. Magyar Service Corporation, a New Jersey corporation, is a wholly owned, non-bank subsidiary of the Bank. Magyar Service Corporation, which also operates under the name Magyar Financial Services, receives commissions from annuity and life insurance sales referred to a licensed, non-bank financial planner. Hungaria Urban Renewal, LLC is a Delaware limited-liability corporation established in 2002 as a qualified intermediary operating for the purpose of acquiring and developing the Bank’s new main office. The Bank owns a 100% interest in Hungaria Urban Renewal, LLC, which has no other business other than owning the Bank’s main office site.

ORGANIZATION

12 Months Ended

Sep. 30, 2021

Organization, Consolidation and Presentation of Financial Statements [Abstract]

NOTE A - ORGANIZATION

Magyar Bancorp, Inc. (the “Company”) is a Delaware-chartered bank holding company. On July 14, 2021, the Company completed a second-step conversion of the Bank from the two-tier mutual holding company structure to the stock holding company structure. Magyar Bancorp, MHC was the Company’s former mutual holding company parent prior to completion of the second-step conversion. In conjunction with the second-step conversion, Magyar Bancorp, MHC ceased to exist. During the second-step conversion, the Company sold, for gross proceeds of $39.1 million, a total of 3,910,000 shares of common stock at $10.00 per share. As part of the second-step conversion, each of the existing 5,810,746 outstanding shares of Magyar Bancorp, Inc. common stock owned by persons other than Magyar Bancorp, MHC was converted into 1.2213 shares of Company common stock. As a result of the second-step conversion, all share information has been subsequently revised to reflect the 1.2213 exchange ratio, unless otherwise noted.

The Company owns 100% of the outstanding common stock of Magyar Bank (the “Bank”), a New Jersey-chartered stock savings bank. The Bank offers consumer and commercial banking services to individuals, businesses, and nonprofit organizations throughout the central New Jersey area through its administrative office in New Brunswick, New Jersey and seven full-service branch offices in Middlesex and Somerset Counties in New Jersey. The Company is subject to regulation and supervision by the Board of Governors of the Federal Reserve System. The Bank is supervised and regulated by the Federal Deposit Insurance Corporation (the “FDIC”) and the New Jersey Department of Banking and Insurance.

Magyar Investment Company, a New Jersey investment corporation subsidiary of the Bank, was formed on August 15, 2006 for the purpose of buying, selling and holding investment securities.

Magyar Service Corporation, a New Jersey corporation, is a wholly owned, non-bank subsidiary of the Bank. Magyar Service Corporation, which also operates under the name Magyar Financial Services, receives commissions from annuity and life insurance sales referred to a licensed, non-bank financial planner.

Hungaria Urban Renewal, LLC is a Delaware limited-liability corporation established in 2002 as a qualified intermediary operating for the purpose of acquiring and developing the Bank’s new main office. The Bank owns a 100% interest in Hungaria Urban Renewal, LLC, which has no other business other than owning the Bank’s main office site.