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HNVR

Hanover Bancorp, Inc.

HNVR

Hanover Bancorp, Inc. • NASDAQ
$22.75 ▲ 1.34% (+0.30)
Market Cap $163.63 M
52w High $27.14
52w Low $17.47
Dividend Yield 0.40%
P/E 14.97
Volume 4.06K
Outstanding Shares 7.19M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $35.779M ▲ $12.013M ▼ $3.491M ▲ 9.757% ▲ $0.47 ▲ $5.7M ▲
Q2-2025 $35.61M ▼ $12.616M ▼ $2.443M ▲ 6.86% ▲ $0.33 ▲ $4.488M ▲
Q1-2025 $36.569M ▼ $15.996M ▲ $1.521M ▼ 4.159% ▼ $0.2 ▼ $2.715M ▼
Q4-2024 $37.244M ▼ $12.4M ▲ $3.902M ▲ 10.477% ▲ $0.53 ▲ $6.145M ▲
Q3-2024 $38.067M $12.238M $3.539M 9.297% $0.46 $5.864M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $204.08M ▲ $2.332B ▲ $2.13B ▲ $201.833M ▲
Q2-2025 $114.975M ▼ $2.312B ▲ $2.113B ▲ $198.885M ▲
Q1-2025 $160.234M ▼ $2.292B ▼ $2.095B ▼ $196.643M ▲
Q4-2024 $195.005M ▲ $2.312B ▼ $2.115B ▼ $196.638M ▲
Q3-2024 $108.126M $2.328B $2.135B $192.339M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $3.491M ▲ $2.749M ▲ $-14.866M ▼ $15.151M ▲ $3.034M ▼ $2.432M ▲
Q2-2025 $2.443M ▲ $-2.061M ▼ $-7.722M ▼ $14.084M ▲ $4.301M ▲ $-2.151M ▼
Q1-2025 $1.521M ▼ $4.113M ▲ $13.045M ▼ $-19.781M ▲ $-2.623M ▼ $3.885M ▲
Q4-2024 $3.902M ▲ $1.334M ▼ $42.454M ▲ $-22.162M ▼ $21.626M ▲ $2.123M ▼
Q3-2024 $3.539M $2.385M $5.917M $-8.186M $116K $4.137M

Revenue by Products

Product Q3-2024Q1-2025Q2-2025Q3-2025
Other Revenue
Other Revenue
 $0 ▲$0 ▲$0 ▲$0 ▲
Service Charges On Deposit Accounts
Service Charges On Deposit Accounts
 $0 ▲$0 ▲$0 ▲$0 ▲

Five-Year Company Overview

Income Statement

Income Statement Revenue has grown steadily over the past few years, showing that the bank is successfully expanding its customer and lending base. However, profit has not kept pace with that growth, and earnings per share have actually moved down from prior peaks. This suggests pressure on margins, likely from higher funding costs, competition for deposits, and possibly rising credit or operating expenses. The business is clearly scaling, but profitability per share looks to be in a digestion phase rather than in a clear upward trend.

Balance Sheet

Balance Sheet The balance sheet has grown consistently, with total assets rising and shareholder equity building over time, which points to a growing franchise and retained earnings. Cash levels look reasonably stable, indicating a decent liquidity cushion for a regional bank. Debt has fluctuated but does not appear excessive relative to the growing asset base, suggesting a measured use of leverage. Overall, the balance sheet shows steady expansion with a generally solid capital foundation, though the bank remains exposed to typical regional bank risks such as loan concentration and local economic conditions.

Cash Flow

Cash Flow Operating cash flow has been positive throughout the period, which is important for a bank that relies on a healthy core franchise. That said, cash generation has softened from the stronger levels seen a couple of years ago, echoing the earnings pressure seen on the income statement. Free cash flow remains positive but modest, and capital spending is very light, reflecting the asset‑light, service nature of banking. In simple terms, the bank is generating cash, but not yet turning its growth in assets into meaningfully stronger cash performance.

Competitive Edge

Competitive Edge Hanover Bancorp operates as a focused regional player in the New York metro and Long Island markets, leaning heavily on relationship banking and local decision‑making. Its edge comes from specialized lending in areas like SBA loans, commercial and industrial credit, commercial real estate, foreign‑national mortgages, and municipal banking—segments where tailored solutions and speed matter. This niche, high‑touch model differentiates it from large national banks that are more standardized and less flexible. The flip side is that its smaller size and geographic concentration can make it more sensitive to local economic swings and competitive pricing pressure in its core markets.

Innovation and R&D

Innovation and R&D Innovation here is less about traditional R&D and more about technology and product development. The move to a modern core banking platform and the redesigned digital channels should improve efficiency, customer experience, and the bank’s ability to roll out new features. Enhanced digital payments, mobile tools, and business cash‑management services bring Hanover closer to big‑bank capabilities while preserving its community‑bank feel. Future upside depends on how well it leverages this new tech backbone to deepen C&I and SBA lending, expand into underserved markets, and further diversify away from concentrated commercial real estate exposure.

Summary

Hanover Bancorp is a growing regional bank that has successfully expanded its balance sheet and revenue base, but is currently facing some pressure on profitability and cash generation per share. Its strength lies in a focused, relationship‑driven model, deep local knowledge, and specialized lending niches that are not as well served by large national banks. Recent investments in a modern core system and digital offerings position it to compete more effectively and operate more efficiently. Key watchpoints include how it manages margin pressure, credit quality, and geographic and loan‑type concentrations while trying to scale its specialized franchises in C&I, SBA, and residential lending.

NEWS

October 30, 2025 · 4:00 PM UTC

Hanover Bancorp, Inc. Reports Third Quarter 2025 Results and Declares $0.10 Quarterly Cash Dividend

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September 25, 2025 · 8:00 AM UTC

Your Bank - Your Way: Hanover Bank Launches Dynamic New Website

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