HNVR
Hanover Bancorp, Inc.24.04
+0.00+0%
Dec 16, 4:00:01 PM EST
Earnings Call Transcripts
This Quarter (Q4 '25)
No earnings call transcript available yet
Last Quarter (Q3 '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
8-K
Q3 earnings rise, dividend declared
Hanover Bancorp reported Q3 2025 net income of $3.5 million, or $0.47 per diluted share, up from $2.4 million last quarter, fueled by net interest income rising to $15.2 million and a net interest margin expanding to 2.74%. Deposits grew $23.5 million sequentially, driven by C&I and municipal verticals, while loans hit $1.99 billion with a reduced CRE concentration of 362% of capital. The board declared a $0.10 per share dividend, payable November 20. Nonperformers ticked up to 0.86% of loans.
8-K
Russell 2000 addition boosts visibility
Hanover Bancorp disclosed an investor presentation on September 4, 2025, highlighting its addition to the Russell 2000 index in late June 2025, boosting visibility amid NYC metro consolidation. Total assets hit $2.3 billion at June 30, 2025, with loans at $2.0 billion and deposits matching, while the $190 million loan pipeline—81% in niche segments—fuels organic growth. CRE concentration eased to 368% of capital. Non-GAAP ROATCE stands at 5.46%.
10-Q
Q2 FY2025 results
Hanover Bancorp swung to profitability in Q2 FY2025 ended June 30, 2025, posting net income of $2.4M, up sharply from $0.8M a year earlier, thanks to a 12% jump in net interest income to $14.8M (derived) on a 30 basis point margin expansion to 2.76% amid falling deposit costs, while the provision for credit losses plunged 42% to $2.4M after $3.5M in charge-offs tied to a prior reserve. Non-interest income held steady at $3.6M, buoyed by $2.3M in loan sale gains despite softer SBA volumes, but expenses climbed 8% to $12.6M from staffing for new branches and C&I growth. Liquidity stays solid with $165M in cash equivalents and $203M available FHLB capacity against $108M in fixed-rate advances maturing through 2028; the reincorporation to Maryland closed June 25 without financial impact. Non-GAAP metrics not disclosed in the 10-Q. Yet competition from fintechs and big banks pressures margins in the NYC metro.
8-K
Q2 earnings rise on margin gains
Hanover Bancorp reported Q2 2025 net income of $2.4 million, up sharply from $0.8 million a year ago, fueled by net interest income climbing to $14.8 million on a 2.76% margin—its best since early 2023. Demand deposits surged $28.1 million, bolstering liquidity at 274% of uninsured balances, while the Port Jefferson branch opened to tap Eastern Long Island growth. Inclusion in the Russell 2000 boosts visibility. Yet charge-offs hit $3.5 million.
8-K
Reincorporation to Maryland completed
Hanover Bancorp completed its reincorporation merger on June 25, 2025, shifting domicile from New York to Maryland for enhanced corporate governance flexibility and reduced state compliance costs. All shares, assets, liabilities, and obligations transferred seamlessly to the Maryland entity, with no changes to stockholder rights or capital structure—17 million common shares and 15 million preferred authorized. Directors and officers remain unchanged. Stockholders now operate under Maryland law, potentially easing future decisions.
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