Hanover Bancorp Q3 net income $5.3M ($0.80/diluted); declares $0.10 dividend; expands to Hauppauge

Hanover Bancorp, Inc. /MD

2022-Q3 EPS reported $2.92

Net income $5.3M ($0.80/diluted), up from $221K ($0.05) a year ago; adjusted net income $5.5M ($0.83/diluted).
Net interest income $14.8M (+41.8% YoY); net interest margin 4.05% (3.94% ex-accretion).
Board declares $0.10 quarterly cash dividend payable Aug. 16, 2022 to holders of record Aug. 9, 2022.
Loan growth ex-PPP $144.1M linked quarter (46.1% annualized); loan pipeline ~$428M.
Expanding into Hauppauge, NY (Suffolk County) with full-service branch expected operational by year-end 2022.

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