Business UpdateJun 4, 2026, 08:37 AM

Hanover Bancorp Presents Business Update; Assets $2.37B, Loans $1.99B

AI Summary

Hanover Bancorp, Inc. presented an investor update on June 4, 2026, detailing its business strategy, financial performance, and growth initiatives. As of March 31, 2026, the company reported total assets of $2.37 billion, total loans of $1.99 billion, and total deposits of $2.02 billion. The presentation highlighted Hanover's niche lending expertise, efficient operating model, disciplined underwriting, and successful M&A integration, alongside strong asset quality and a growing core deposit franchise.

Key Highlights

Total assets reached $2.37 billion as of March 31, 2026.
Total loans stood at $1.99 billion as of March 31, 2026.
Total deposits were $2.02 billion as of March 31, 2026.
Q1 2026 Net Income was $1.9 million, with Adjusted Net Income at $4.0 million.
Net Interest Margin for Q1 2026 was 2.96%.
Non-accrual loans totaled $24.5 million, or 1.23% of total loans, as of March 31, 2026.
Insured and collateralized deposits accounted for 86% of total deposits as of March 31, 2026.
The loan pipeline was approximately $115 million as of March 31, 2026.

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Hanover Bancorp, Inc. /MD

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