On July 14, 2021, Magyar Bancorp, Inc., New Brunswick, New Jersey, the holding company for Magyar Bank, completed its conversion from the mutual holding company to the stock holding company form of organization and its related stock offering.  A total of 3,910,000 shares of common stock were sold in the subscription offering at a price of $10.00 per share.  The Company’s common stock trades on the Nasdaq Global Market under the symbol “MGYR.”

Luse Gorman served as legal counsel to Magyar in the conversion and stock offering. The Luse Gorman team included John Gorman, Steven Lanter and Beverly White.

Since 2000, Luse Gorman has been the leading law firm in the United States in mutual holding company transactions and mutual-to-stock conversions, based on number of transactions. Click here to learn more about our capital markets and corporate finance services.