Hanover Bancorp Q3 net income $3.1M ($0.42 EPS) vs $5.3M a year ago; NIM compresses to 2.68%

Hanover Bancorp, Inc. /MD

2023-Q3 EPS reported $1.57

Net interest income $13.5M, down 8.9% YoY; net interest margin 2.68% vs 4.05% a year ago.
Loan portfolio grew to $1.82B, net increase of $36.1M linked quarter annualized 8.1%.
Tangible book value per share $22.26, up from $21.00 at Sep 2022; total assets $2.12B.
Declares $0.10 quarterly cash dividend payable Aug 16, 2023 to holders of record Aug 9.
Hauppauge Business Banking Center opened in May; deposits >$17M, C&I loans ~$34M closed.

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 third fiscal quarter ended June 30, 2023 results: net income $3.1 million, EPS $0.42 per diluted share.

Period: third fiscal quarter ended June 30, 2023
Net income: $3.1 million
EPS: $0.42 per diluted share
Result: reported results

Exact text from the filing

The Company reported net income for the quarter ended June 30, 2023 of $3.1 million or $0.42 per diluted share (including Series A preferred shares), versus $5.3 million or $0.80 per diluted share in the comparable period a year ago.

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Source: SEC EDGAR

accession 0001558370-23-012345

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