Quarterly ResultJul 23, 2026, 04:02 PM

Hanover Bancorp Q2 Net Income $4.1M; Declares $0.10 Dividend

AI Summary

Hanover Bancorp, Inc. reported strong financial results for the second quarter ended June 30, 2026, with net income reaching $4.1 million, or $0.55 per diluted share. The company achieved record net interest income of $16.8 million and expanded its net interest margin to 3.10%. Additionally, Hanover Bancorp declared a quarterly cash dividend of $0.10 per share, announced the appointment of Kevin O’Connor as President, and noted record demand deposits and ongoing share repurchases.

Key Highlights

Net income for Q2 2026 totaled $4.1 million, or $0.55 per diluted share.
Net interest income was a record $16.8 million for Q2 2026, up 13.36% YoY.
Net interest margin expanded to 3.10% in Q2 2026 from 2.76% in Q2 2025.
Company declared a $0.10 per share cash dividend for common and preferred shares.
Demand deposits increased $16.9 million to a record $254.3 million at June 30, 2026.
Repurchased 112,346 shares of common stock in Q2 2026 at $23.54 average price.
Kevin O’Connor appointed President of the Company and Bank, effective July 27, 2026.
New full-service Riverhead branch expected to open in Q3 2026.

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Hanover Bancorp, Inc. /MD

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