Hanover Bancorp Posts Q3 Net Income of $3.5 Million and Declares $0.10 Dividend

Reuters
2025/10/31
Hanover Bancorp Posts Q3 Net Income of $3.5 Million and Declares $0.10 Dividend

Hanover Bancorp Inc. reported net income of $3.5 million, or $0.47 per diluted share including Series A preferred shares, for the quarter ended September 30, 2025. This compares to $2.4 million, or $0.33 per diluted share, in the previous quarter. Pre-provision net revenue was $6.0 million, resulting in a return on average assets of 1.1 percent, up from $5.7 million and 1.0 percent in the prior quarter, and $4.8 million and 0.9 percent in the third quarter of 2024. Total assets reached $2.33 billion as of September 30, 2025, compared to $2.31 billion at December 31, 2024. Securities available for sale totaled $100.0 million, an increase of $16.3 million from the end of 2024, mainly due to growth in collateralized mortgage obligations and corporate bonds. Total deposits stood at $1.97 billion, up $20.5 million, or 1.1 percent, from December 31, 2024. Demand deposits increased by $21.3 million, or 10.1 percent, over the same period. The Board of Directors declared a $0.10 per share cash dividend on both common and Series A preferred shares, payable on November 20, 2025, to shareholders of record as of November 13, 2025. The company continues to develop technology-focused branches in key markets and expand its business development efforts.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Hanover Bancorp Inc. published the original content used to generate this news brief via EDGAR, the Electronic Data Gathering, Analysis, and Retrieval system operated by the U.S. Securities and Exchange Commission (Ref. ID: 0001104659-25-104347), on October 30, 2025, and is solely responsible for the information contained therein.

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