Hanover Bancorp Q2 net income $5.9M ($1.00 EPS) vs $2.1M YoY; completes IPO raising $26.8M

Hanover Bancorp, Inc. /MD

2022-Q2 EPS reported $2.15

Net income $5.9M ($1.00 diluted EPS) vs $2.1M ($0.48) in prior-year quarter.
Completed IPO on May 11, 2022: gross proceeds $26.8M at $21.00/share; began trading Nasdaq HNVR.
Initiated quarterly cash dividend of $0.10/share paid Feb 15, 2022.
Net interest margin 4.26% vs 3.79% YoY; net interest income up 89% to $14.7M.
Total assets $1.48B; tangible book value $19.75/share; opened branch in Freehold, NJ.

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