---
schema_version: "secwatch.filing_event.v1"
accession: "0001558370-23-016779"
form_type: "8-K"
ticker: "HNVR"
cik: "0001828588"
company_name: "Hanover Bancorp, Inc. /MD"
filed_at: "2023-10-26T23:59:59+00:00"
generated_at: "2026-06-09T08:47:53.242765+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Hanover Bancorp Q3 net income $3.5M, EPS $0.48; fiscal year changes to calendar

## Summary
- Net income of $3.5M ($0.48 diluted EPS) for quarter ended Sep 30, 2023, vs $5.8M ($0.79) a year ago.
- Net interest margin narrowed to 2.29% from 4.04% YoY, driven by higher deposit costs and increased liquidity.
- Deposits grew $141.4M (8.9%) from June 30; undrawn liquidity was 204% of uninsured deposits.
- Board declared $0.10 quarterly cash dividend payable Nov 15, 2023; authorized repurchase of up to 366,050 shares.
- Fiscal year end changed from Sep 30 to Dec 31; transition stub period Oct–Dec 2023 to be reported.

## SEC filing metadata
- accession: 0001558370-23-016779
- form_type: 8-K
- ticker: HNVR
- cik: 0001828588
- company_name: Hanover Bancorp, Inc. /MD
- filed_at: 2023-10-26T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 2.02, 5.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1828588/000155837023016779/0001558370-23-016779-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1828588/000155837023016779/hnvr-20231026x8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001558370-23-016779
- JSON: https://secwatch.observer/filing/0001558370-23-016779.json
- Plain text: https://secwatch.observer/filing/0001558370-23-016779.txt

## Key facts
- Earnings Releases
  Hanover Bancorp, Inc. /MD reported the fiscal year ended September 30, 2023 results: net income $15.2 million, EPS $2.05 per diluted share.
  - Period: the fiscal year ended September 30, 2023
  - Net income: $15.2 million
  - EPS: $2.05 per diluted share
  - Result: reported results
  source text: The Company recorded net income for the fiscal year ended September 30, 2023 of $15.2 million or $2.05 per diluted share, compared to $23.6 million or $3.68 per diluted share in the comparable 2022 fiscal year.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1828588/000155837023016779/0001558370-23-016779-index.htm
- Earnings Releases
  Hanover Bancorp, Inc. /MD reported the quarter ended September 30, 2023 results: net income $3.5 million, EPS $0.48 per diluted share (including Series A preferred shares).
  - Period: the quarter ended September 30, 2023
  - Net income: $3.5 million
  - EPS: $0.48 per diluted share (including Series A preferred shares)
  - Result: reported results
  source text: The Company reported net income for the quarter ended September 30, 2023 of $3.5 million or $0.48 per diluted share (including Series A preferred shares)
  evidence_url: https://www.sec.gov/Archives/edgar/data/1828588/000155837023016779/0001558370-23-016779-index.htm
- Governance Changes
  Hanover Bancorp, Inc. /MD: Changed fiscal year end from September 30 to December 31, with a transition report for the stub period ending December 31, 2023 and first full fiscal year ending December 31, 2024 (effective 2023-10-25).
  - Change: fiscal year change
  - Effective: 2023-10-25
  source text: On October 25, 2023, the Board of Directors of the Company approved a change in the Company’s fiscal year end from September 30 to December 31. As a result of this change, the Company will file a transition report on Form 10-Q for the three-month period ending December 31, 2023 (Stub Period). The Company’s first full calendar fiscal year resulting from the change will be the year ended December 31, 2024.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1828588/000155837023016779/0001558370-23-016779-index.htm

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