Michael Thaden
appointed Michael Thaden as a director of the Company, effective immediately.
Highest-materiality recent filing
Hanover Bancorp authorizes new buyback of up to 370,000 shares (~5% of outstanding)
Board approved new Share Repurchase Program on Aug 26, 2026, expiring Aug 17, 2027.
Hanover Bancorp Q2 net income $4.1M ($0.55 EPS); NIM expands to 3.10%; declares $0.10 dividend
Net income $4.1M ($0.55 diluted EPS); adjusted net income $4.3M ($0.58 diluted EPS) vs $2.4M ($0.33) YoY.
Hanover Bancorp appoints Kevin O'Connor as President effective July 27, 2026
Kevin O'Connor, 63, named President of Hanover Bancorp and Hanover Community Bank.
Hanover Bancorp investors conference reveals pending Minden acquisition and private placement
Acquisition of Minden subject to regulatory approvals and Minden shareholder vote; customary closing conditions.
Shareholders elect three directors, approve equity plan, ratify auditor at annual meeting
Directors Michael Katz, John R. Sorrenti, Philip Okun elected to three-year terms; votes 4.6M-4.8M for, 56k-184k withheld.
Hanover Bancorp Q1 net income $1.9M; adj. EPS $0.54; margin expands to 2.96%
Net income $1.9M ($0.25 diluted); adj. net income $4.0M ($0.54), excl. $2.1M severance.
Hanover Bancorp raises $35M through subordinated notes, refinances existing debt
Issued $35M fixed-to-floating subordinated notes due 2036 at 7.25% fixed rate until March 2031 then SOFR+386bps.
President McClelland Wilcox to depart March 31; CEO Puorro named President
President McClelland Wilcox leaving March 31, 2026 as part of management restructuring.
Hanover Bancorp Q4 net income sinks to $33K; pre-provision net revenue hits highest since 2022
Net income $33K (after $6.1M provision) vs $3.9M YoY; full-year net income $7.5M vs $12.3M.
Hanover Bancorp presents investor materials on proposed Minden acquisition and private placement
Acquisition of Minden subject to regulatory approvals, Minden shareholder approval, and customary conditions.
Hanover Bancorp Q3 net income $3.5M ($0.47/diluted); NIM expands to 2.74%
Q3 net income $3.5M vs $2.4M linked quarter; diluted EPS $0.47 vs $0.33 linked.
Hanover Bancorp investor presentation discusses acquisition of Minden and private placement
Presentation filed Sept 4, 2025, cites pending acquisition of Minden (target undisclosed) subject to regulatory and shareholder approval.
Hanover Bancorp Q2 net income $2.4M ($0.33 EPS) vs $0.8M a year ago; NIM expands to 2.76%
Net income of $2.4M vs $0.8M in Q2 2024; diluted EPS $0.33 vs $0.11.
Hanover Bancorp completes reincorporation from New York to Maryland effective June 25, 2025
Merger of NY corp into wholly owned MD subsidiary completed June 25; shares convert 1-for-1.
Hanover Bancorp proposes acquisition of Minden; private placement also planned
Pending acquisition of Minden disclosed in investor presentation; requires shareholder and regulatory approvals.
Michael P. Puorro, Metin Negrin, Elena Sisti, Michael Thaden elected to three-year terms; broker non-votes 586,985.
Hanover Bancorp Q1 2025 adj. EPS $0.55 vs $0.55 YoY; NIM expands to 2.68%
Net income $1.5M ($0.20 diluted); adjusted net income $4.1M ($0.55 diluted) excluding $2.6M core system conversion costs.
Hanover Bancorp files investor presentation; no substantive new data in excerpt
Investor presentation scheduled for February 25, 2025, with slides furnished as Exhibit 99.1.
Hanover Bancorp Q4 net income $3.9M, margin expands to 2.53%; declares $0.10 dividend
Q4 net income $3.9M ($0.52 diluted EPS), up from $3.8M ($0.51) YoY; FY net income $12.3M ($1.66) vs $13.6M ($1.84).
Hanover Bancorp Q3 net income flat at $3.5M; adjusted EPS $0.50, up from $0.38 YoY
Net income $3.5M ($0.48 diluted EPS); adjusted net income $3.7M ($0.50 diluted EPS).
Hanover Bancorp appoints Michael Thaden as director, Castle Creek designee
Michael Thaden appointed to board effective Sept. 25, 2024; term expires at 2025 annual meeting.
Net income $0.8M, diluted EPS $0.11 vs $4.1M ($0.55) prior Q and $3.1M ($0.42) year ago.
Hanover Bancorp enters into 3-year employment agreement with CFO Lance Burke
Lance Burke, CFO, gets $350k base salary, $800/mo auto allowance, subject to annual review.
Hanover Bancorp presents investor deck on pending acquisition of Minden
Acquisition of Minden requires regulatory approvals and Minden shareholder approval; private placement not conditional on deal.
Hanover Bancorp issues 125K Series A Preferred to Castle Creek in exchange for common shares
Castle Creek exchanges 125,000 common shares for 125,000 new Series A Convertible Perpetual Preferred shares; authorized shares increased to 450,000.
Hanover Bancorp Q1 net income rises 27.9% YoY to $4.1M; EPS $0.55
Net income $4.1M ($0.55 diluted EPS), up 27.9% YoY and 7.8% linked quarter.
Hanover Bancorp shareholders approve reincorporation from New York to Maryland
Reincorporation to Maryland approved: 4,806,407 for, 919,958 against, 47,102 abstain.
Hanover Bancorp Q4 net income $3.8M, EPS $0.51; adjusted EPS $0.54, up 43% linked
Net income $3.8M ($0.51 diluted); adjusted net income $4.0M ($0.54), up 43.4% from linked quarter.
Hanover Bancorp adopts bylaw amendment allowing board to set fiscal year-end by resolution
Board adopted amended Bylaws on Dec 20, 2023, effective immediately.
Hanover Bancorp Q3 net income $3.5M, EPS $0.48; fiscal year changes to calendar
Net income of $3.5M ($0.48 diluted EPS) for quarter ended Sep 30, 2023, vs $5.8M ($0.79) a year ago.
Hanover Bancorp approves share repurchase of up to 5% of outstanding common stock
Board approved repurchase of up to 366,050 shares, or about 5% of outstanding stock.
Hanover Bancorp Q3 net income $3.1M ($0.42 EPS) vs $5.3M a year ago; NIM compresses to 2.68%
Net interest income $13.5M, down 8.9% YoY; net interest margin 2.68% vs 4.05% a year ago.
Hanover Bancorp investor presentation references acquisition of Minden and private placement
Acquisition subject to regulatory and Minden shareholder approval, plus customary closing conditions.
Hanover Bancorp Q2 net income $3.2M ($0.43 EPS) vs $5.9M a year ago; NIM compresses
Net income $3.2M ($0.43 diluted EPS) vs $5.9M ($1.00) in Q2 2022; adjusted EPS $0.48.
Hanover Bancorp appoints Mac Wilcox as President, succeeding retired Brian Finneran
Wilcox appointed President effective April 26, 2023; previously Senior EVP and Chief Lending & Revenue Officer.
Hanover Bancorp shareholders elect three directors, ratify auditor at annual meeting
Elected directors Michael Katz, John R. Sorrenti, Philip Okun for three-year terms with over 5.3M For votes each.
Hanover Bancorp Q4 net income $5.3M ($0.72 EPS) vs $6.5M a year ago; loan growth 30.4% annualized
Net income of $5.3M, $0.72 diluted EPS; adjusted net income $5.1M ($0.69) excluding purchase accounting.
Hanover Bancorp reports FY22 net income $23.6M, NIM 4.18%, TBV $21.00
Total assets $1.84B, net loans $1.624B, deposits $1.5B at Sep 30, 2022.
Hanover Bancorp creates Series A Preferred for Castle Creek exchange; 150K shares issued
Exchange Agreement with Castle Creek: 150K common shares exchanged for 150K shares of new Series A Convertible Perpetual Preferred Stock.
Board adopted bylaw amendments effective October 27, 2022.
Hanover Bancorp Q3 net income $5.8M ($0.79 EPS), declares $0.10 dividend
Net income $5.8M ($0.79 diluted EPS) vs $7.1M ($1.25) YoY; adjusted net income $5.4M ($0.74).
President Brian K. Finneran to retire Feb 15, 2023; consulting deal until Aug 2023
Brian K. Finneran will retire as President of HNVR and Hanover Community Bank effective February 15, 2023.
Hanover Bancorp assets grow to $1.61B; net income $17.7M for 9 months to June 2022
Net income of $17.7M for 9 months ended 6/30/22; adjusted net income $17.9M.
Hanover Bancorp Q3 net income $5.3M ($0.80/diluted); declares $0.10 dividend; expands to Hauppauge
Net income $5.3M ($0.80/diluted), up from $221K ($0.05) a year ago; adjusted net income $5.5M ($0.83/diluted).
Hanover Bancorp closes overallotment option, issues 191,250 shares at $21.00
Underwriters fully exercised overallotment for 191,250 shares at $21.00 per share.
Hanover Bancorp declares $0.10 quarterly cash dividend payable June 28
Quarterly dividend of $0.10 per share, payable June 28, 2022.
Hanover Bancorp Q2 net income $5.9M ($1.00 EPS) vs $2.1M YoY; completes IPO raising $26.8M
Net income $5.9M ($1.00 diluted EPS) vs $2.1M ($0.48) in prior-year quarter.
Hanover Bancorp prices IPO at $21.00/share, raises $26.8M gross; closes on May 13
Priced 1,275,000 shares of common stock at $21.00 per share; gross proceeds ~$26.8 million.
Hanover Bancorp launches IPO of 1.36M shares at $21-$23 range on Nasdaq
Offering 1,363,636 shares; underwriters have 30-day option for up to 204,545 additional shares.
Hanover Bancorp shareholders elect three directors at Annual Meeting
Michael P. Puorro elected with 4,634,355 votes for, 296,923 withheld.
appointed Michael Thaden as a director of the Company, effective immediately.
On April 26, 2023, each of the Registrant and Hanover Community Bank, the Registrant’s wholly owned bank subsidiary (the “Bank”), appointed McClelland “Mac” W. Wilcox as President.
Brian K. Finneran, who currently serves as the President of the Registrant and its wholly-owned subsidiary Hanover Community Bank (the “ Bank ”), will retire effective February 15, 2023
On November 19, 2021, Frank V. Carone , a director of the Registrant and Hanover Community Bank (the “Bank”), the Registrant’s wholly owned subsidiary and a New York state chartered commercial bank, resigned from the Board of Directors of both the Registrant and the Bank.
In conjunction with that appointment, Mr. Brian K. Finneran, the President and Chief Financial Officer of the Registrant and the Bank, will continue as the President of the Registrant and the Bank, concentrating on corporate strategy and overseeing certain operations of the Registrant and the Bank.
On September 13, 2021, Mr. Lance P. Burke was appointed Executive Vice President and Chief Financial Officer of the Registrant and its wholly-owned subsidiary Hanover Community Bank, a New York state chartered commercial bank (the “Bank”) (see paragraph (c) below).
Max materiality 0.90 · Median 0.62 · Most common event earnings