Hanover Bancorp Q4 net income $5.3M ($0.72 EPS) vs $6.5M a year ago; loan growth 30.4% annualized

Hanover Bancorp, Inc. /MD

2023-Q1 EPS reported $0.72

Net income of $5.3M, $0.72 diluted EPS; adjusted net income $5.1M ($0.69) excluding purchase accounting.
Net interest margin compressed to 3.49% from 4.39% YoY and 4.04% linked quarter; cost of deposits rose.
Net loan growth of $123.3M (30.4% annualized); total assets $1.98B, up from $1.84B linked.
Tangible book value per share increased to $21.66 from $21.00 linked; Tier 1 leverage 10.34%.
Board declared $0.10 per share cash dividend payable Feb 14, 2023, unchanged from prior.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Hanover Bancorp, Inc. /MD reported the quarter ended December 31, 2022 results: net income $5.3 million, EPS $0.72 per diluted share.

Period: the quarter ended December 31, 2022
Net income: $5.3 million
EPS: $0.72 per diluted share
Result: reported results

Exact text from the filing

The Company reported net income for the quarter ended December 31, 2022 of $5.3 million or $0.72 per diluted share (includes Series A preferred shares), versus $6.5 million or $1.16 per diluted share in the comparable year ago period, representing a decrease of $1.2 million or 20.6%.

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Source: SEC EDGAR

accession 0001558370-23-000495

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