Hanover Bancorp, Inc.
- Market Cap (Float-Adj) (Float-adjusted market cap computed by the low-float screener — matches the screener row. May differ from the standard cap (price × all shares outstanding) reported elsewhere.)
- $190.9M
- Price
- $27.06
- % Change (Daily % change from the live per-ticker quote feed.)
- -0.07%
- Volume
- 28.4K
About
Hanover Bancorp, Inc. functions as the parent entity for Hanover Community Bank, providing a comprehensive range of financial products and services. These offerings serve individuals, municipalities, and small to mid-sized businesses across the New York metropolitan area. The bank's extensive portfolio includes various deposit options such as checking, savings, money market, NOW, and individual retirement accounts, alongside certificates of deposit and time deposits, as well as card services. For lending needs, it offers residential and commercial real estate mortgages, commercial and industrial loans, lines of credit, Small Business Administration (SBA) loans, home equity financing, multi-family property loans, general business loans, bridge loans, and other personal purpose loans. Branch locations are established in Manhattan, Brooklyn, Queens, and Nassau County, New York, with its administrative hub situated in Suffolk County, New York. Established in 2008, Hanover Bancorp, Inc. maintains its headquarters in Mineola, New York.
Quick stats
Shares outstanding7.1M
Computed float4.2M
Float / shares59.5%
Key info
SectorFinancial Services
IndustryBanks - Regional
CIK (Central Index Key — the unique ID the SEC assigns to every filer. Use it to look up the company's filings on EDGAR.)0001828588
Websitehttps://www.hanoverbank.com
AI Summary
AI-generated1/5
majorbullishearnings
Hanover Bancorp, Inc. Reports Second Quarter 2026 Results Highlighted by Increased Net Interest Income and Margin Expansion Declares $0.10 Quarterly Cash Dividend
Hanover Bancorp reported second quarter net income of $4.1 million, or $0.55 per diluted share, significantly up from $2.4 million, or $0.33 per share, in the prior year. Net interest income increased 13.4% to a record $16.8 million, driven by net interest margin expansion to 3.10% as the cost of interest-bearing liabilities decreased 48 basis points.
The Board of Directors declared a $0.10 per share cash dividend and repurchased 112,346 shares during the quarter at an average price of $23.54. Demand deposits reached a record $254.3 million, up 7.1% from the prior quarter.
Kevin O’Connor has been appointed President of the Company and the Bank effective July 27, 2026, bringing over 35 years of banking experience from Valley Bank. The company also expects to open a new full-service branch in Riverhead, New York during the third quarter of 2026.
Red flags
- Non-performing loans increased to $28.3 million from $24.6 million linked quarter and $21.6 million year ago
- SBA loan originations and gains on sale continue to be lower due to a less favorable economic outlook