Hanover Bancorp, Inc. /MD shareholders approved Ratification of Crowe LLP as independent registered public accounting firm for fiscal year ending December 31, 2026 at the 2026-05-28 meeting.
“The appointment of Crowe LLP as the Company’s independent registered public accounting firm for the fiscal year ending December 31, 2026 was ratified by the shareholders by the following vote:”
Shareholder Votes
Hanover Bancorp, Inc. /MD shareholders approved The Hanover Bancorp, Inc. 2026 Equity Incentive Plan at the 2026-05-28 meeting.
“The Hanover Bancorp, Inc. 2026 Equity Incentive Plan was approved by the shareholders by the following vote:”
Shareholder Votes
Hanover Bancorp, Inc. /MD shareholders approved Election of directors each for a three-year term at the 2026-05-28 meeting.
“The following individuals were elected as directors, each for a three-year term, by the following vote:”
Earnings Releases
Hanover Bancorp, Inc. /MD reported the quarter ended March 31, 2026 results: net income $1.9 million, EPS $0.25 per diluted share.
“Margin Expansion and Declares $0.10 Quarterly Cash Dividend First Quarter Performance Highlights ● Net Income: Net income for the quarter ended March 31, 2026 totaled $1.9 million or $0.25 per diluted share (including Series A preferred shares). Adjusted (non-GAAP) net income (excluding severance expenses) was $4.0 million or $0.54 per diluted share for”
Debt Financings
Hanover Bancorp, Inc. /MD incurred senior notes of $35.0 million with certain qualified institutional buyers and accredited investors at 7.25% Fixed-to-Floating Rate maturing March 15, 2036.
“the Company issued and sold $35.0 million in aggregate principal amount of its 7.25% Fixed-to-Floating Rate Subordinated Notes due 2036”
Material Agreements
Hanover Bancorp, Inc. /MD entered into Subordinated Note Purchase Agreements with certain qualified institutional buyers and accredited investors valued at $35.0 million (effective 2026-03-12).
“On March 12, 2026, Hanover Bancorp, Inc. (the “Company”) entered into Subordinated Note Purchase Agreements (collectively, the “Purchase Agreements”) with certain qualified institutional buyers and accredited investors (collectively, the “Purchasers”) pursuant to which the Company issued and sold $35.0 million in aggregate principal amount of its 7.25% Fixed-to-Floating Rate Subordinated Notes due 2036 (the “Notes”).”
Governance Changes
Hanover Bancorp, Inc. /MD: Adoption of Maryland Bylaws governing surviving corporation on effective date (effective 2025-06-25).
“the rights of the registrant’s stockholders began to be governed by statutory corporate laws of Maryland, governed by the MGCL, the Articles of Incorporation and the Maryland Bylaws, adopted pursuant to the Merger Agreement.”
Governance Changes
Hanover Bancorp, Inc. /MD: Reincorporation merger from New York to Maryland, adopting new Articles of Incorporation and Bylaws under MGCL as of the effective date (effective 2025-06-25).
“Effective as of June 25, 2025 (the “Effective Day”), Parent merged with and into the Company, with the Company being the surviving corporation and successor in interest to Parent.”
M&A Transactions
Hanover Bancorp, Inc. /MD underwent a change of control (closed 2025-06-25).
“On June 25, 2025, Hanover Bancorp, Inc., a New York corporation (“Parent”) entered into an Agreement and Plan of Merger (the “Merger Agreement”) with Hanover Bancorp, Inc., a Maryland corporation and Parent’s wholly owned subsidiary (the “Surviving Corporation” or the “Company”), pursuant to which, on the same date, Parent merged with and into the Surviving Corporation (the “Reincorporation Merger”).”
Michael Thaden was appointed as director at Hanover Bancorp, Inc. /MD.
“appointed Michael Thaden as a director of the Company, effective immediately.”
Governance Changes
Hanover Bancorp, Inc. /MD: Increased authorized shares of Series A Convertible Perpetual Preferred Stock from 150,000 to 450,000 (effective 2024-04-25).
“the Company agreed to: (i) file with the Secretary of State of the State of New York a Certificate of Amendment to the Company’s Certificate of Incorporation (the “Amendment”) increasing the number of authorized shares of the Company’s Series A Convertible Perpetual Preferred Stock (“Series A Preferred Stock”) from 150,000, par value $0.01 per share, to 450,000, par value $0.01 per share”
Material Agreements
Hanover Bancorp, Inc. /MD entered into Exchange Agreement with Castle Creek Capital Partners VIII, L.P. (effective 2024-04-25).
“On April 25, 2024, Hanover Bancorp, Inc. (the “Company”) entered into an Exchange Agreement (the “Exchange Agreement”) with Castle Creek Capital Partners VIII, L.P. (“Castle Creek”).”
Earnings Releases
Hanover Bancorp, Inc. /MD reported the quarter ended March 31, 2024 results: net income $4.1 million, EPS $0.55 per diluted share.
“Net income for the quarter ended March 31, 2024 totaled $4.1 million or $0.55 per diluted share (including Series A preferred shares)”
Shareholder Votes
Hanover Bancorp, Inc. /MD shareholders approved Ratification of the appointment of Crowe LLP as the Company’s independent registered public accounting firm for 2024 at the 2024-03-05 meeting.
“Proposal 4: The ratification of the appointment of Crowe LLP as the Company’s independent registered public accounting firm for 2024 was approved. The number of votes For and Against with regard to this proposal, as well as the number of abstentions were as follows:”
Shareholder Votes
Hanover Bancorp, Inc. /MD shareholders approved Amendment to the Charter of the Surviving Corporation to permit the Board of Directors to increase or decrease the number of authorized shares and the number of shares of any class or series of the Company at the 2024-03-05 meeting.
“Proposal 3: As part of the reincorporation, an amendment to the Charter of the Surviving Corporation to permit the Board of Directors to increase or decrease the number of authorized shares and the number of shares of any class or series of the Company was approved. The number of votes For and Against with regard to this proposal, as well as the number of abstentions and Broker Non-Votes were as follows:”
Shareholder Votes
Hanover Bancorp, Inc. /MD shareholders approved Reincorporation of the Company from the State of New York to the State of Maryland at the 2024-03-05 meeting.
“Proposal 2: The reincorporation of the Company from the State of New York to the State of Maryland was approved. The number of votes For and Against with regard to this proposal, as well as the number of abstentions and Broker Non-Votes were as follows:”
Shareholder Votes
Hanover Bancorp, Inc. /MD shareholders approved Election of three directors for three year terms at the 2024-03-05 meeting.
“Proposal 1: The election of three persons to serve as directors for three year terms. The following is a list of the directors elected at the Annual Meeting with the number of votes For and Withheld, as well as the number of Broker Non-Votes:”
Earnings Releases
Hanover Bancorp, Inc. /MD reported the quarter ended December 31, 2023 results: net income $3.8 million, EPS $0.51 per diluted share.
“The Company reported net income for the quarter ended December 31, 2023 of $3.8 million or $0.51 per diluted share”
Governance Changes
Hanover Bancorp, Inc. /MD: Amended bylaws to permit board of directors to set fiscal year end date by resolution (effective 2023-12-20).
“The Bylaws were amended to make certain changes to the Registrant’s fiscal year, permitting the Board of Directors to set the fiscal year end date by resolution.”
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.
“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.”
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).
“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)”
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).
“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.”
Earnings Releases
Hanover Bancorp, Inc. /MD reported third fiscal quarter ended June 30, 2023 results: net income $3.1 million, EPS $0.42 per diluted share.
“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.”
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.
“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.”
McClelland W. Wilcox was appointed as President at Hanover Bancorp, Inc. /MD.
“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.”
Earnings Releases
Hanover Bancorp, Inc. /MD reported the quarter ended December 31, 2022 results: net income $5.3 million, EPS $0.72 per diluted share.
“The Company reported net income for the quarter ended December 31, 2022 of $5.3 million or $0.72 per diluted share (includes Series A preferred shares), versus $6.5 million or $1.16 per diluted share in the comparable year ago period, representing a decrease of $1.2 million or 20.6%.”
Governance Changes
Hanover Bancorp, Inc. /MD: Bylaws amended to make certain non-material administrative changes to reflect current management structure (effective 2022-10-27).
“On October 27, 2022, the Board of Directors of the Registrant adopted a change to the Registrant’s By-Laws, which were effective upon adoption . The By-Laws, in amended and restated form, are filed herewith as Exhibit 3.2 and incorporated herein by reference. The By-Laws were amended to make certain non-material administrative changes to reflect the Registrant’s current management structure.”
Governance Changes
Hanover Bancorp, Inc. /MD: Amended Certificate of Incorporation to designate Series A Convertible Perpetual Preferred Stock (effective 2022-10-25).
“Item 5.03. Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year The information set forth under Item 1.01 with respect to the Amendment is incorporated by reference into this Item 5.03. The Amendment was effective upon filing with the New York Secretary of State on October 25, 2022.”
Material Agreements
Hanover Bancorp, Inc. /MD entered into Board Observer Agreement with Castle Creek Capital Partners VIII, L.P. (effective 2022-10-28).
“Contemporaneously with the execution of the Exchange Agreement, the Company and Castle Creek entered into a Board Observer Agreement”
Material Agreements
Hanover Bancorp, Inc. /MD entered into Exchange Agreement with Castle Creek Capital Partners VIII, L.P. (effective 2022-10-28).
“On October 28, 2022, Hanover Bancorp, Inc. (the “Company”) entered into an Exchange Agreement with (the “Exchange Agreement”) with Castle Creek Capital Partners VIII, L.P. (“Castle Creek”).”
Brian K. Finneran retired as President at Hanover Bancorp, Inc. /MD.
“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”
Frank V. Carone resigned as Director at Hanover Bancorp, Inc. /MD.
“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.”
Brian K. Finneran changed role as President at Hanover Bancorp, Inc. /MD.
“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.”
Lance P. Burke was appointed as Executive Vice President and Chief Financial Officer at Hanover Bancorp, Inc. /MD.
“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).”
Facts are extracted by an LLM and gated to those whose source quote is present verbatim in the filing text. Coverage is best-effort while backfill and monitoring mature; this is not yet a full-market index. See methodology.