Hanover Bancorp assets grow to $1.61B; net income $17.7M for 9 months to June 2022

Hanover Bancorp, Inc. /MD

Net income of $17.7M for 9 months ended 6/30/22; adjusted net income $17.9M.
Total assets $1.61B, total net loans $1.405B; tangible common equity $148M.
Net interest margin 4.23%; adjusted ROAA 1.63%; adjusted ROATCE 20.4%.
Tangible book value per share $20.26; initiated $0.10 quarterly dividend in Feb 2022.
Completed IPO in May 2022 issuing 1.47M shares at $21.00; opened new branch in Suffolk County.

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