Filing Details

Accession Number:
0001398344-23-002699
Form Type:
13G Filing
Publication Date:
2023-02-09 19:00:00
Filed By:
M3 Partners Lp
Company:
Magyar Bancorp Inc. (NASDAQ:MGYR)
Filing Date:
2023-02-10
SEC Url:
13G Filing
Ownership Summary

Please notice the below summary table is generated without human intervention and may contain errors. Please refer to the complete filing displayed below for exact figures.

Name Sole Voting Power Shared Voting Power Sole Dispositive Power Shared Dispositive Power Aggregate Amount Owned Power Percent of Class
M3 FUNDS 11,604 547,067 11,604 547,067 547,067 8.11%
M3 PARTNERS 5,850 547,067 5,850 547,067 547,067 8.11%
M3F, INC 547,067 547,067 547,067 8.11%
Jason A. Stock 547,067 547,067 558,671 8.29%
William C. Waller 547,067 547,067 552,917 8.20%
Filing

 

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

 

SCHEDULE 13G/A

(Rule 13d-102)

 

INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT

TO RULE 13d-1(b), (c), AND (d) AND AMENDMENTS THERETO FILED

PURSUANT TO RULE 13d-2(b)

 

(Amendment No. 4)

 

MAGYAR BANCORP INC.

 

(Name of Issuer)

 

Common Stock

 

(Title of Class of Securities)

 

55977T208

 

(CUSIP Number)

 

December 31, 2022

 

(Date of Event Which Requires Filing of This Statement)

 

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

 

[   ]  Rule 13d-1(b)

[X]  Rule 13d-1(c)

[   ]  Rule 13d-1(d)

 

 

 

*The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page.

 

The information required in the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

 

(Continued on following pages)

 

CUSIP NO. 55977T208 13G Page 2 of 9 Pages

 

1

NAMES OF REPORTING PERSONS

 

M3 FUNDS, LLC

2

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP

(a) [   ]

(b) [   ]

3

SEC USE ONLY

 

4

CITIZENSHIP OR PLACE OF ORGANIZATION

 

STATE OF DELAWARE, UNITED STATES OF AMERICA

 

NUMBER OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON WITH

 

5

SOLE VOTING POWER

 

N/A

 

6

SHARED VOTING POWER

 

547,067 shares of Common Stock

7

SOLE DISPOSITIVE POWER

 

N/A

 

8

SHARED DISPOSITIVE POWER

 

547,067 shares of Common Stock

9

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 

547,067 shares of Common Stock

10

CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 9 EXCLUDES

CERTAIN SHARES

[   ]

 

11

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9

 

8.11% of the outstanding shares of Common Stock

12

TYPE OF REPORTING PERSON

 

OO (Limited Liability Company)

 

       

 

CUSIP NO. 55977T208 13G Page 3 of 9 Pages

 

1

NAMES OF REPORTING PERSONS

 

M3 PARTNERS, LP

 

2

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP

(a) [   ]

(b) [   ]

3

SEC USE ONLY

 

4

CITIZENSHIP OR PLACE OF ORGANIZATION

 

STATE OF DELAWARE, UNITED STATES OF AMERICA

 

NUMBER OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON WITH
5

SOLE VOTING POWER

 

N/A

 

6

SHARED VOTING POWER

 

547,067 shares of Common Stock

7

SOLE DISPOSITIVE POWER

 

N/A

 

8

SHARED DISPOSITIVE POWER

 

547,067 shares of Common Stock

9

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 

547,067 shares of Common Stock

10

CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 9 EXCLUDES

CERTAIN SHARES

[   ]

 

11

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9

 

8.11% of the outstanding shares of Common Stock

12

TYPE OF REPORTING PERSON

 

PN (Limited Partnership)

       

 

CUSIP NO. 55977T208 13G Page 4 of 9 Pages

 

1

NAMES OF REPORTING PERSONS

 

M3F, INC.

2

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP

(a) [   ]

(b) [   ]

3

SEC USE ONLY

 

4

CITIZENSHIP OR PLACE OF ORGANIZATION

 

STATE OF UTAH, UNITED STATES OF AMERICA

 

NUMBER OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON WITH

 

5

SOLE VOTING POWER

 

N/A

 

6

SHARED VOTING POWER

 

547,067 shares of Common Stock

7

SOLE DISPOSITIVE POWER

 

N/A

 

8

SHARED DISPOSITIVE POWER

 

547,067 shares of Common Stock

9

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 

547,067 shares of Common Stock

10

CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 9 EXCLUDES

CERTAIN SHARES

[   ]

 

11

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9

 

8.11% of the outstanding shares of Common Stock

12

TYPE OF REPORTING PERSON

 

CO, IA

 

       

 

CUSIP NO. 55977T208 13G Page 5 of 9 Pages

 

1

NAMES OF REPORTING PERSONS

 

Jason A. Stock

 

2

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP

(a) [   ]

(b) [   ]

3

SEC USE ONLY

 

4

CITIZENSHIP OR PLACE OF ORGANIZATION

 

UNITED STATES OF AMERICA

 

NUMBER OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON WITH

 

5

SOLE VOTING POWER

 

11,604 shares of Common Stock

6

SHARED VOTING POWER

 

547,067 shares of Common Stock

7

SOLE DISPOSITIVE POWER

 

11,604 shares of Common Stock

8

SHARED DISPOSITIVE POWER

 

547,067 shares of Common Stock

9

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 

558,671 shares of Common Stock

10

CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 9 EXCLUDES

CERTAIN SHARES

[   ]

 

11

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9

 

8.29% of the outstanding Common Stock

12

TYPE OF REPORTING PERSON

 

IN

       

 

CUSIP NO. 55977T208 13G Page 6 of 9 Pages

 

1

NAMES OF REPORTING PERSONS

 

William C. Waller

 

2

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP

 

(a) [   ]

(b) [   ]

3

SEC USE ONLY

 

4

CITIZENSHIP OR PLACE OF ORGANIZATION

 

UNITED STATES OF AMERICA

 

NUMBER OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING

PERSON WITH

 

5

SOLE VOTING POWER

 

5,850 shares of Common Stock

6

SHARED VOTING POWER

 

547,067 shares of Common Stock

7

SOLE DISPOSITIVE POWER

 

5,850 shares of Common Stock

8

SHARED DISPOSITIVE POWER

 

547,067 shares of Common Stock

9

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 

552,917 shares of Common Stock

10

CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 9 EXCLUDES

CERTAIN SHARES

[   ]

 

11

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9

 

8.20% of the outstanding Common Stock

12

TYPE OF REPORTING PERSON

 

IN

       

 

Item 1.(a) Name of Issuer:

 

Magyar Bancorp Inc. (the “Issuer”)

 

(b)Address of Issuer’s Principal Executive Offices:

 

400 Somerset Street

New Brunswick, NJ 08901

 

Item 2.(a) Name of Persons Filing:

 

M3 Funds, LLC

M3 Partners, LP

M3F, Inc.

Jason A. Stock

William C. Waller

 

(b)Address of Principal Business Office or, if None, Residence:

 

For all persons filing:

 

2070 E 2100 S, Suite 250 

Salt Lake City, UT  84109

 

(c)Citizenship:

 

M3 Funds, LLC is a Delaware limited liability company 

M3 Partners, LP is a Delaware limited partnership 

M3F, Inc. is a Utah corporation 

Mr. Stock and Mr. Waller are United States citizens

 

(d)Title of Class of Securities:

 

Common Stock

 

(e)CUSIP Number:

 

55977T208

 

Item 3.If This Statement is Filed Pursuant to Rule 13d-1(b), or 13d-2(b) or (c), Check Whether the Person Filing is a:

 

Not applicable. Filed pursuant to Rule 13d-1(c).

 

Item 4.Ownership.

 

 

M3 Funds, LLC

M3 Partners, LP

M3F, Inc. 

Jason A. Stock

William C. Waller

(a) Amount Beneficially Owned: 547,067 547,067 547,067 558,671 552,917
(b) Percent of Class: 8.11% 8.11% 8.11% 8.29% 8.20%

(c) Number of Shares to Which Reporting Person Has:

     
(i)   Sole Voting Power: N/A N/A N/A 11,604 5,850
(ii)  Shared Voting Power: 547,067 547,067 547,067 547,067 547,067
(iii) Sole Dispositive Power: N/A N/A N/A 11,604 5,850
(iv) Shared Dispositive Power: 547,067 547,067 547,067 547,067 547,067

 

The reported shares are the Issuer’s common stock.

 

547,067 of the reported shares are owned directly by M3 Partners, L.P. (“M3 Partners”), whose general partner is M3 Funds, LLC (the “General Partner”) and whose investment adviser is M3F, Inc. (the “Investment Adviser”). The General Partner and the Investment Adviser could each be deemed to be indirect beneficial owners of the reported shares, and could be deemed to share such beneficial ownership with M3 Partners.

 

Jason A. Stock and William C. Waller are the managers of the General Partner and the managing directors of the Investment Adviser, and could be deemed to share such indirect beneficial ownership with the General Partner, the Investment Adviser and M3 Partners. Additionally, Messrs. Stock and Waller personally own stock of the Issuer, as described above.

 

Item 5.Ownership of Five Percent or Less of a Class.

 

If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than five percent of the class of securities, check the following  [   ].

 

Item 6.Ownership of More than Five Percent on Behalf of Another Person.

 

Not applicable.

 

Item 7.Identification and Classification of the Subsidiary That Acquired the Security Being Reported on by the Parent Holding Company or Control Person.

 

Not applicable.

 

Item 8.Identification and Classification of Members of the Group.

 

Not applicable.

 

Item 9.Notice of Dissolution of Group.

 

Not applicable.

 

Item 10.Certification.

 

By signing below, each of the undersigned certifies that, to the best of his or its knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect.

 

Signature

 

After reasonable inquiry and to the best of each of the undersigned’s knowledge and belief, each of the undersigned certifies that the information set forth in this Statement is true, complete and correct.

 

  Date: February 10, 2023  
       
  M3 PARTNERS, LP  
       
  By: M3 Funds, LLC, General Partner  
       
  By: /s/ Jason A. Stock  
  Name:  Jason A. Stock  
  Title: Manager  
       
  Date: February 10, 2023  
       
  M3 FUNDS, LLC  
       
  By: /s/ Jason A. Stock  
  Name: Jason A. Stock  
  Title: Manager  
       
  Date: February 10, 2023  
       
  M3F, INC.  
       
  By: /s/ Jason A. Stock  
  Name: Jason A. Stock  
  Title: Managing Director  
       
  Date: February 10, 2023  
       
  /s/ Jason A. Stock  
  Jason A. Stock  
       
  Date: February 10, 2023  
       
  /s/ William C. Waller  
  William C. Waller