News Details

Magyar Bank Opens New Branchburg Office

September 29, 2006

NEW BRUNSWICK, N.J., Sept. 29 /PRNewswire-FirstCall/ -- Magyar Bank's new Branchburg office is now open for business. Located at 1000 Route 202 South at Huyler Road, it marks Magyar's first location in Somerset County, and fourth location overall.

"Magyar is committed to providing families and businesses in Branchburg with the right financial solutions and the personalized service they expect from a Community Bank," stated Elizabeth E. Hance, President and Chief Executive Officer of Magyar Bank. "We've been serving the Central New Jersey marketplace since 1922, and we're excited about bringing Community Banking to Branchburg."

"Magyar offers a complete line of products and services for families and businesses," added Aleta Fusco, Branchburg Office Branch Manager. "We listen to the needs of each customer and provide them with a financial solution to meet their specific needs."

The office will feature a drive-up ATM as well as safe deposit boxes and extended hours during the week. The lobby will be open Monday - Wednesday, 8:00am - 5:00pm, Thursday and Friday 8:00am - 6:00pm, and Saturdays 9:00am - 1:00pm. There will be two lanes of drive-up space available weekdays 8:00am - 6:00pm and Saturdays 9:00am - 1:00pm.

To celebrate the opening of its new Branchburg location, Magyar Bank is giving one lucky winner 98 seconds in their bank vault to grab as much cash as they can. The Magyar Bank "Dash for Cash" will run until October 4 and entry forms are available at all Magyar Bank locations. In addition, the Bank has partnered with Magic 98.3FM who will also qualify individuals for the contest- listen at 7:20am weekday mornings from September 25 - October 6 for their "song of the day." Be the correct caller when you hear that song again later in the day and you will qualify for a chance to win 98 seconds in a bank vault.

The Grand Opening celebration takes place on Saturday, October 7, from 9:00am - 1:00pm and will feature refreshments, entertainment and the "Dash for Cash". Of the qualified winners, one person will be selected that day to make a "Dash for Cash" and pull as much money as they can in 98 seconds.

Finally, in the true spirit of community banking, Magyar Bank will match the amount of money won in the "Dash for Cash" and make a donation to the United Way of Somerset County's Community Care Fund, supporting two Branchburg area organizations, the Girl Scouts of America, Rolling Hills Council and the Midland School.

For more information about Magyar's new Branchburg office, Magyar's products and services, or the Grand Opening celebration call the Branchburg office at 908.203.0002 or visit www.magbank.com.

About Magyar Bank

Magyar Bank is a subsidiary of Magyar Bancorp (Nasdaq: MGYR), a $410 million asset community bank headquartered in New Brunswick, New Jersey. Magyar Bank has been serving families and businesses in Central New Jersey for over 80 years with a complete line of financial products and services, and today Magyar operates branch locations in New Brunswick, North Brunswick, South Brunswick and Branchburg. Visit Magyar online at www.magbank.com.

SOURCE Magyar Bank

Contact: John Reissner, +1-732-214-2083