HNVR
Hanover Bancorp, Inc.24.04
+0.00+0%
Dec 16, 4:00:01 PM EST
Earnings Call Transcripts
This Quarter (Q1 '26)
No earnings call transcript available yet
Last Quarter (Q4 '25)
No earnings call transcript available
Key Stats
Market Cap
173.45MP/E (TTM)
15.82Basic EPS (TTM)
1.52Dividend Yield
0.02%Recent Filings
10-K
FY2025 results
Hanover Bancorp closed FY2025 ended December 31, 2025 with $2.38B assets, $2.00B loans up slightly from $1.99B, and $2.03B deposits (up 3.8% y/y), fueled by $191M municipal deposit growth to $701M (34.5% of total). Net income fell to $7.5M ($1.00 diluted EPS) from $12.3M ($1.66), hit by $14.2M net charge-offs (0.71% of avg loans, derived) and $10.4M credit provision versus $4.9M prior; Q4 strategic cleanup removed $9.6M NPLs, lifting nonperformers to 1.08% yet trimming CRE concentration to 360% of capital. Net interest income climbed 13.9% to $60.5M (2.75% NIM, +31bps) on lower funding costs, while noninterest income dropped on softer SBA/resi gains. Q4 repurchased 57k shares; well-capitalized with $200M equity. New York metro CRE downturn risks quarterly momentum.
8-K
Hanover issues $35M Tier 2 notes
Hanover Bancorp issued $35 million in 7.25% fixed-to-floating rate subordinated notes due 2036 on March 12, 2026, via private placement to qualified investors. Notes qualify as Tier 2 capital, with semi-annual interest until 2031, then SOFR plus 386 bps quarterly; redeemable after March 15, 2031, subject to approval. Proceeds repay existing debt and fund general purposes. Subordinated to senior debt.
8-K
President Wilcox exits with severance
8-K
Q4 profit dips on provisions
Hanover Bancorp posted Q4 net income of $33K after a $6.1M credit loss provision tied to $9.6M charge-offs from strategic NPL cleanup, yet NIM expanded to 2.84% on $15.8M net interest income and deposits grew $53.6M to $2.03B. CRE concentration eased to 360% of capital. Board declared $0.10/share dividend. Credit cleanup sharpens balance sheet.
8-K
Q3 metrics, growth highlighted
Hanover Bancorp furnished an investor presentation on November 11, 2025, highlighting Q3 strength with $2.3B assets, $2.0B loans, and $2.0B deposits at September 30. Niche lending drove a $179M pipeline, 96% in residential, business, and SBA/USDA; CRE concentration fell to 362% of capital. Assets grew steadily. Forward-looking statements carry risks.
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