---
schema_version: "secwatch.filing_event.v1"
accession: "0001558370-23-006966"
form_type: "8-K"
ticker: "HNVR"
cik: "0001828588"
company_name: "Hanover Bancorp, Inc. /MD"
filed_at: "2023-04-27T23:59:59+00:00"
generated_at: "2026-06-16T09:21:01.099028+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# Hanover Bancorp Q2 net income $3.2M ($0.43 EPS) vs $5.9M a year ago; NIM compresses

## Summary
- Net income $3.2M ($0.43 diluted EPS) vs $5.9M ($1.00) in Q2 2022; adjusted EPS $0.48.
- Net interest margin narrowed to 3.04% from 4.26% as deposit costs surged 250 bps YoY.
- Total deposits rose $189.6M to $1.7B; insured/collateralized deposits ~84% of total.
- Provision for loan losses $0.9M, including $407K write-off on Savoy Bank acquired PCI loans.
- Board declared $0.10 per share quarterly dividend payable May 17, 2023 (unchanged).

## SEC filing metadata
- accession: 0001558370-23-006966
- form_type: 8-K
- ticker: HNVR
- cik: 0001828588
- company_name: Hanover Bancorp, Inc. /MD
- filed_at: 2023-04-27T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1828588/000155837023006966/0001558370-23-006966-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1828588/000155837023006966/hnvr-20230427x8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001558370-23-006966
- JSON: https://secwatch.observer/filing/0001558370-23-006966.json
- Plain text: https://secwatch.observer/filing/0001558370-23-006966.txt

## Key facts
- Earnings Releases
  Hanover Bancorp, Inc. /MD reported the quarter ended March 31, 2023 results: net income $3.2 million or $0.43 per diluted share, EPS $0.43 per diluted share.
  - Period: the quarter ended March 31, 2023
  - Net income: $3.2 million or $0.43 per diluted share
  - EPS: $0.43 per diluted share
  - Result: reported results
  source text: The Company reported net income for the quarter ended March 31, 2023 of $3.2 million or $0.43 per diluted share (including Series A preferred shares), versus $5.9 million or $1.00 per diluted share in the comparable year ago period.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1828588/000155837023006966/0001558370-23-006966-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.