On September 10, 2026, Hanover Bancorp, Inc. filed a Current Report on Form 8-K to disclose that it will present confidential investor information to various investors. The filing states that the information is contained in slides attached as Exhibit 99.1 and is being furnished, not filed, pursuant to Regulation FD.
The attached presentation, dated September 2026, outlines the company's background and financial metrics as of June 30, 2026. Hanover Bancorp is the bank holding company for Hanover Community Bank, which was founded in 2009 and is headquartered in Mineola, New York. The company completed an initial public offering and NASDAQ listing in May 2022.
As of June 30, 2026, the company reported total assets of $2.3 billion, total loans of $2.0 billion, and total deposits of $2.0 billion. Stockholders' equity was reported at $203 million, with a tangible common equity ratio of 7.91%. The company noted that its level of assets, loans, deposits, and revenue relative to the number of branch offices is well above peers.
The presentation highlights the company's strategic expansion, including the opening of a Hauppauge Business Banking Center in May 2023 and a Port Jefferson Branch in June 2025. As of June 30, 2026, the business loan pipeline for these two locations was $48 million with deposits of approximately $168 million. The company also noted plans to open a Riverhead Branch in September 2026.
Regarding credit quality, Hanover reported total non-accrual loans of $28.3 million as of June 30, 2026, representing 1.42% of total loans. Excluding $7.0 million in government-guaranteed loans, non-accrual loans were 1.07% of total loans. The company reported reserves of $19.1 million, or 0.96% of total loans.
