Hanover Bancorp Q1 2025 adj. EPS $0.55 vs $0.55 YoY; NIM expands to 2.68%

Hanover Bancorp, Inc. /MD

2025-Q1 EPS reported $0.20

Net income $1.5M ($0.20 diluted); adjusted net income $4.1M ($0.55 diluted) excluding $2.6M core system conversion costs.
Net interest income $14.6M, +13.1% YoY; net interest margin 2.68% vs 2.41% a year ago.
Non-performing loans fell 28.5% to $11.7M (0.60% of total loans); allowance for credit losses 1.17%.
Quarterly dividend $0.10 per share declared, payable May 14, 2025 to holders of record May 7.
Completed core system conversion to FIS Horizon in Feb 2025; CRE concentration ratio improved to 369% of capital.

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