Hanover Bancorp, Inc. /MD

Hanover Bancorp, Inc. (HNVR) filed an 8-K report on September 10, 2026, disclosing information presented to investors. The presentation included financial highlights as of June 30, 2026, with Total Assets at $2.337 billion, Total Loans at $1.998 billion, and Total Deposits at $2.013 billion. The company reported a Net Income of $4.1 million for the second quarter of 2026, with an Adjusted Net Income of $4.3 million. The filing also provided details on the company's business strategy, investment highlights, corporate timeline, and executive management team.

Hanover Bancorp, Inc. reported strong second-quarter 2026 results, with net income rising to $4.1 million, or $0.55 per diluted share, a significant increase from the previous quarter and prior year. The company achieved record net interest income of $16.8 million and expanded its net interest margin to 3.10%. Demand deposits also reached a record $254.3 million, driven by C&I banking relationships and municipal operating accounts. Additionally, Hanover Bancorp announced the appointment of Kevin O’Connor as its new President and declared a quarterly cash dividend of $0.10 per share.

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.

Hanover Bancorp, Inc. and Hanover Community Bank announced the appointment of Kevin O'Connor as President, effective July 27, 2026. In this role, Mr. O'Connor will drive expansion and regional growth within the Long Island market. He brings over 35 years of banking experience, including leadership positions at Valley Bank, Dime Community Bank, and Bridgehampton National Bank.

Hanover Bancorp, Inc. announced the appointment of Kevin O'Connor as President of both the Company and Hanover Community Bank, effective July 27, 2026. Mr. O'Connor brings over 35 years of banking experience, having previously served as Long Island Market President at Valley Bank and CEO of Dime Community Bank and Bridgehampton National Bank. His compensation package includes an annual base salary, incentive compensation, and an initial restricted stock award of 10,000 shares vesting over five years, aimed at driving expansion and regional growth.

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.

Hanover Bancorp, Inc. shareholders approved the 2026 Equity Incentive Plan at the annual meeting held on May 28, 2026. Additionally, Michael Katz, John R. Sorrenti, and Philip Okun were elected as directors for three-year terms. Shareholders also ratified the appointment of Crowe LLP as the company's independent registered public accounting firm for the fiscal year ending December 31, 2026.

Hanover Bancorp reported an increase in net income to $1.87 million, or $0.25 per diluted share, for the three months ended March 31, 2026, up from $1.52 million, or $0.20 per diluted share, in the prior year period. The company saw an increase in net interest income and a decrease in provision for credit losses, contributing to the improved earnings. However, total assets and deposits experienced a slight decline, and nonaccrual loans increased quarter-over-quarter, with a significant severance payment impacting non-interest expenses.

Hanover Bancorp, Inc. reported Q1 2026 GAAP net income of $1.9 million ($0.25 per diluted share) and adjusted net income of $4.0 million ($0.54 per diluted share). The company achieved significant net interest margin expansion to 2.96% and increased net interest income to $16.4 million. Strategic actions included a $35 million subordinated debt issuance to enhance capital and redeem prior notes, and a wholesale funding optimization that reduced borrowing costs. Additionally, the Board declared a $0.10 per share quarterly cash dividend and advanced its Long Island expansion with a new branch authorization.

Hanover Bancorp reported Q1 2026 net income of $1.9 million, or $0.25 per diluted share, and adjusted net income of $4.0 million, or $0.54 per diluted share. The company saw net interest income rise to $16.4 million, an 11.85% increase year-over-year, with net interest margin expanding to 2.96%. Strategic actions included a $35 million subordinated debt placement, optimization of $60.3 million in FHLB advances, and regulatory approval for a new Long Island branch.