• Hanover Bancorp posted net income of $1.87 million, lifting diluted EPS to $0.25 for quarter ended March 31, 2026.
• Revenue rose to $19.11 million, while return on average assets climbed to 0.33%.
• Net interest margin widened to 2.96% from 2.68%, as cost of interest-bearing liabilities eased to 3.51% from 4.01%.
• Asset quality weakened, with non-accrual loans increasing to $24.59 million, or 1.23% of total loans.
• Funding and capital actions included a $35 million issuance of 10-year fixed-to-floating rate subordinated notes with a 7.25% fixed coupon for first five years, alongside a restructuring of $60.3 million of FHLB advances that cut weighted average all-in borrowing cost to 3.47% from 4.27%.

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: 0001104659-26-057877), on May 08, 2026, and is solely responsible for the information contained therein.