Magyar Bancorp MGYR Bank Owned Life Insurance
Bank Owned Life Insurance at other companies
Other financials
Where this comes from
Reported directly by Magyar Bancorp in its filing.
Tagged under the XBRL concept us-gaap:BankOwnedLifeInsurance.
The official record: Magyar Bancorp’s 10-Q, filed May 13, 2026, on SEC EDGAR. View the filing →
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Questions, answered.
- What is Magyar Bancorp's bank owned life insurance?
- Magyar Bancorp (MGYR) reported bank owned life insurance of $19.37M in Q1 2026.
- How has Magyar Bancorp's bank owned life insurance changed year-over-year?
- Magyar Bancorp's bank owned life insurance decreased by 5.2% year-over-year, from $20.43M to $19.37M.
- What is the long-term trend for Magyar Bancorp's bank owned life insurance?
- Over 4 years (2021 to 2025), Magyar Bancorp's bank owned life insurance has grown at a 7.4% compound annual growth rate (CAGR), from $14.29M to $19.04M.
- What does bank owned life insurance mean?
- The cash surrender value of life insurance policies purchased by the bank on the lives of its employees or executives. This asset serves as a tax-advantaged vehicle to offset the costs of employee benefit programs. It represents a stable, long-term financial asset that contributes to non-interest income.