Magyar Bancorp, Inc. reported earnings results for the first quarter ended December 31, 2016. For the quarter, the company's interest and dividend income was $5,407,000 compared to $5,002,000 a year ago. Net interest and dividend income was $4,486,000 compared to $4,110,000 a year ago. Net interest and dividend income after provision for loan losses was $4,156,000 compared to $3,932,000 a year ago. Income before income tax expense was $587,000 compared to $502,000 a year ago. Net income was $347,000 compared to $309,000 a year ago, due to higher net interest and dividend income. Partially offsetting the increase in net interest and dividend income were higher provisions for loan loss and lower non-interest income. Diluted earnings per share was $0.06 compared to $0.05 a year ago. Book value per share, at period end was $8.23 compared to $8.05 a year ago. Return on average assets was 0.24% compared to 0.22% a year ago. Return on average equity was 2.89% compared to 2.63% a year ago.