Magyar Bancorp Inc is a mid-tier stock holding company. The business consists of attracting retail deposits from the general public in the areas surrounding the main office in New Brunswick, New Jersey and branch offices located in Middlesex and Somerset Counties, New Jersey, and investing those deposits, together with funds generated from operations and wholesale funding, in residential mortgage loans, home equity loans, home equity lines of credit, commercial real estate loans, commercial business loans, Small Business Administration loans, construction loans, and investment securities. The company also originates consumer loans, which consist primarily of secured demand loans.