ESOP · DOL Form 5500 · 2023

Magyar Bank ESOP

Data updated 2026-08-25

$5M
Total assets Small plan by assets
77
Participants Small participant base
45th
Percentile by assets National rank
$68,998
Avg per participant Below avg balance/head
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Official DOL plan name: Magyar Bank Employee Stock Ownership Plan · Sponsored by Magyar Bank · New Jersey · Finance & Insurance

$5M in assets, 77 participants

Magyar Bank's Magyar Bank Employee Stock Ownership Plan reported $5M in total assets and 77 participants in its 2023 DOL Form 5500 filing, ranking in the 45th percentile by assets among filed plans. Figures are as reported by the plan sponsor to the Department of Labor, not audited or endorsed by PlainRetire.

  • #2,867 in Finance & Insurance (8,869 peers)

Magyar Bank multi-year trail

Magyar Bank's plans moved +23.2% in assets from 2022 to 2024; this filing shows Magyar Bank Employee Stock Ownership Plan at $5M / 77 participants.

#2,867
in Finance & Insurance (8,869 peers)
-14.1%
assets change YoY

The plan reported a net loss of $775K for the year, a single-year figure driven by markets and benefit payments, not a measure of plan health.

Magyar Bank Employee Stock Ownership Plan's mid-pack asset rank among Finance & Insurance and all filers

Magyar Bank Employee Stock Ownership Plan vs every filed plan by assets

End-of-year total assets · plan year 2023 · DOL Form 5500

$5,312,870 45th percentile higher than 45% of 127,068 filed plans

This plan $0 $2,050,000,000 every filed plan with reported assets, bucketed by value

Dashed line + filled bar = this entry, among filed plans.

Source U.S. Department of Labor Form 5500 filings (EBSA) · plan year 2023

Magyar Bank Employee Stock Ownership Plan among smaller filed plans by headcount

Plan-year 2023 Form 5500 filings with a reported participant count, partitioned by headcount band, not by assets. Magyar Bank Employee Stock Ownership Plan is a small filing (77 participants) on this national headcount ladder.

What changed between DOL Form 5500 filings

plan year 2022 → plan year 2023

  • Magyar Bank Employee Stock Ownership Plan reported net income fell from $238K in the plan year 2022 filing to -$775K in the plan year 2023 filing.
  • Magyar Bank Employee Stock Ownership Plan end-of-year assets fell from $6M in the plan year 2022 filing to $5M in the plan year 2023 filing.
  • Magyar Bank Employee Stock Ownership Plan reported participants fell from 85 in the plan year 2022 filing to 77 in the plan year 2023 filing.

See the national 2022→2023 release diff →

DOL schedule card

Filing strip 221085787 · Magyar Bank PY 2023 · ESOP

Magyar Bank Employee Stock Ownership Plan · $5M · 77 · 45th

  • RANK $5M
  • RANK 77
  • RANK 45th
  • RANK ESOP
  • RANK near Wright Architectural Millwork Corporation Employee Stock Ownership Plan and Trust
  • RANK ind #2867

Stamps derive from this plan's Form 5500 line items (assets, participants, type, EIN, cohort placement) - not a quality rating of the sponsor. Read with What is an ESOP? → · Plans in New Jersey →

Magyar Bank Employee Stock Ownership Plan in the asset neighbourhood

Mci, Inc. Employee Stock Ownership PlanMci, Inc. Employee Stock Own…$5MMagyar Bank Employee Stock Ownership PlanMagyar Bank Employee Stock O…$5MWright Architectural Millwork Corporation Employee Stock Ownership Plan and TrustWright Architectural Millwor…$5MFalk Precision, Inc. Employee Stock Ownership PlanFalk Precision, Inc. Employe…$5MIntellishop Employee Stock Ownership PlanIntellishop Employee Stock O…$5M
End-of-year total assets ($M) among Magyar Bank Employee Stock Ownership Plan and nearest nationwide ESOP peers. Source: DOL Form 5500 plan year 2023.

Magyar Bank multi-year asset trail

Sponsor-wide plan assets over time

All Magyar Bank plans reported in each filing year

Latest sponsor-wide plan assets
$20M 23.234044721249205% vs 2022
2024 filing year
$16M$18M$20M$22M 202220232024 $16.6M $20.5M ▲ +23.3%
Year Plans Participants Total Assets
2022 2 179 $17M
2023 2 168 $16M
2024 2 178 $20M

Magyar Bank filing trail (2023)

Total Assets (Beginning of Year)$6M
Net Assets (End of Year)$2M
Net Income-$775K
Employer EIN221085787
Plan Effective Date2006-01-01
Filing StatusFILING RECEIVED

Nearby ESOP Plans in New Jersey

Peer ESOP plans, same state, same plan type, ranked by total assets.

Magyar Bank Employee Stock Ownership Plan vs. nearby ESOP plans in New Jersey, assets vs. participants Scatter plot of 6 data points. 0500100015002000 -1000100200300400500 Total assets ($M) Participants Magyar Bank Employee Stock Ownership Plan, Total assets ($M): 5.31287 · Participants: 77Magyar Bank Employee Stock Ownership PlanOkonite Company Employees Stock Ownership Plan, Total assets ($M): 420.904787 · Participants: 1127Okonite Company Employees Stock Ownership PlanMathematica Group Holding Inc. Employee Stock Ownership Plan, Total assets ($M): 309.109417 · Participants: 1571Mathematica Group Holding Inc. Employee Stock Ownership PlanConair LLC Savings and Investment Plan, Total assets ($M): 300.696739 · Participants: 1050Conair LLC Savings and Investment PlanAmboy Bancorporation Employee Stock Ownership Plan, Total assets ($M): 106.542135 · Participants: 193Amboy Bancorporation Employee Stock Ownership PlanColumbia Bank Employee Stock Ownership Plan, Total assets ($M): 85.571031 · Participants: 729Columbia Bank Employee Stock Ownership Plan
Magyar Bank Employee Stock Ownership Plan vs. nearby ESOP plans in New Jersey, assets vs. participants
Compare Magyar Bank Employee Stock Ownership Plan side-by-side with 3 peers →

Magyar Bank Employee Stock Ownership Plan's out-of-state ESOP peers by assets and headcount

Outside New Jersey, the nearest ESOP by assets is Wright Architectural Millwork Corporation Employee Stock Ownership Plan and Trust in MA ($5M); by covered participants it is William Penn Bank Employee Stock Ownership Plan in PA (77 participants). Same-state nearby plans are listed separately above.

Similar participant headcount

Nearest other-state filings by covered participants (77 participants); asset peers above are excluded.

DOL Form 5500 plan year 2023. Asset totals can differ widely at the same headcount; neither axis is a quality rating.

Frequently Asked Questions

How did Magyar Bank Employee Stock Ownership Plan assets move in 2023? ▼
Magyar Bank Employee Stock Ownership Plan pulled back noticeably - down 14.1% during 2023, from $6M to $5M. Reported net income was -$775K.
How have Magyar Bank plan assets changed over time? ▼
Across 3 plan years on file (2022-2024), Magyar Bank's sponsor-wide assets grew 23.2%, from $17M to $20M.
Which ESOP plans are similar in size to Magyar Bank Employee Stock Ownership Plan? ▼
Among ESOP plans in other states, the closest by assets is Wright Architectural Millwork Corporation Employee Stock Ownership Plan and Trust in MA ($5M, 57 participants).
Which ESOP plans cover a similar participant headcount to Magyar Bank Employee Stock Ownership Plan? ▼
Among ESOP plans in other states, the closest by covered participants is William Penn Bank Employee Stock Ownership Plan in PA (77 participants, $13M in assets).

Source: U.S. Department of Labor, Employee Benefits Security Administration (EBSA), Form 5500 public disclosure dataset. Plan year 2023.

Source: DOL EFAST2 filing system (efast.dol.gov) - original filing retrieval by EIN 221085787.

Read our methodology - how this data is sourced, computed, and verified.

Data sourced from U.S. Department of Labor Form 5500 filings (EBSA). See our methodology for details.