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Hanover Bancorp (HNVR) Financials

Hanover Bancorp logo
$26.50 -0.38 (-1.41%)
Closing price 07/29/2026 04:00 PM Eastern
Extended Trading
$26.50 +0.00 (+0.00%)
As of 04:10 AM Eastern
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Annual Income Statements for Hanover Bancorp

Annual Income Statements for Hanover Bancorp

This table shows Hanover Bancorp's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric 2020 2021 2022 2023 2024 2025
Period end date 9/30/2020 9/30/2021 9/30/2022 9/30/2023 12/31/2024 12/31/2025
Net Income / (Loss) Attributable to Common Shareholders		 4.97 11 24 15 12 7.49
Consolidated Net Income / (Loss)		 4.97 11 24 15 12 7.49
Net Income / (Loss) Continuing Operations		 4.97 11 24 15 12 7.49
Total Pre-Tax Income 		6.21 14 30 20 16 9.95
Total Revenue		 28 45 70 63 68 73
Net Interest Income / (Expense)		 27 42 61 54 53 60
Total Interest Income		 40 49 68 105 133 130
Loans and Leases Interest Income		 39 48 67 98 123 120
Investment Securities Interest Income		 0.52 0.69 0.48 0.81 5.99 5.69
Other Interest Income		 0.86 0.31 0.94 6.68 4.06 5.10
Total Interest Expense		 13 6.97 7.18 51 80 70
Deposits Interest Expense		 11 4.73 5.38 44 73 64
Long-Term Debt Interest Expense		 2.39 2.24 1.80 6.70 7.41 6.17
Total Non-Interest Income		 1.36 3.35 8.87 8.85 15 13
Other Service Charges		 0.39 1.68 8.13 8.57 15 12
Other Non-Interest Income		 - - 0.74 0.28 0.47 0.75
Provision for Credit Losses		 1.25 1.00 4.45 3.43 4.94 10
Total Non-Interest Expense		 21 30 35 40 47 53
Salaries and Employee Benefits		 11 15 20 21 26 28
Net Occupancy & Equipment Expense		 5.37 6.26 7.26 8.31 9.32 9.50
Property & Liability Insurance Claims		 - - 0.37 1.26 1.42 1.39
Other Operating Expenses		 3.72 4.44 7.64 9.50 11 14
Income Tax Expense		 1.24 3.20 6.94 5.02 4.03 2.47
Basic Earnings per Share		 $1.20 $2.32 $3.74 $2.07 $1.67 $1.01
Weighted Average Basic Shares Outstanding		 4.16M 5.56M 7.15M 7.33M 7.20M 7.17M
Diluted Earnings per Share		 $1.18 $2.28 $3.68 $2.05 $1.66 $1.00
Weighted Average Diluted Shares Outstanding		 4.23M 5.56M 7.15M 7.33M 7.20M 7.17M
Weighted Average Basic & Diluted Shares Outstanding		 - 5.56M 7.15M 7.33M 7.20M 7.17M
Cash Dividends to Common per Share		 - - $0.10 $0.10 $0.10 $0.10

Quarterly Income Statements for Hanover Bancorp

This table shows Hanover Bancorp's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 9/30/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026
Net Income / (Loss) Attributable to Common Shareholders		 3.52 3.09 4.06 0.84 3.54 3.90 1.52 2.44 3.49 0.03 1.87
Consolidated Net Income / (Loss)		 3.52 3.09 4.06 0.84 3.54 3.90 1.52 2.44 3.49 0.03 1.87
Net Income / (Loss) Continuing Operations		 3.52 3.09 4.06 0.84 3.54 3.90 1.52 2.44 3.49 0.03 1.87
Total Pre-Tax Income 		4.69 4.41 5.41 1.16 4.62 5.20 1.77 3.38 4.67 0.14 2.97
Total Revenue		 16 15 17 17 17 18 18 18 18 19 19
Net Interest Income / (Expense)		 12 14 13 13 13 14 15 15 15 16 16
Total Interest Income		 29 28 32 33 34 33 33 32 33 33 32
Loans and Leases Interest Income		 26 26 30 31 31 31 30 30 30 30 30
Investment Securities Interest Income		 0.20 0.20 1.46 1.53 1.62 1.38 1.19 1.43 1.60 1.47 1.37
Other Interest Income		 2.70 2.68 1.24 0.76 1.14 0.92 1.67 0.83 1.44 1.16 1.30
Total Interest Expense		 17 15 19 20 21 19 18 17 18 17 16
Deposits Interest Expense		 14 13 18 18 19 18 17 16 16 15 14
Long-Term Debt Interest Expense		 2.91 1.84 1.60 2.60 1.52 1.69 1.43 1.55 1.47 1.72 1.65
Total Non-Interest Income		 3.71 1.97 3.58 3.62 3.95 4.19 3.73 3.56 2.79 2.77 2.74
Other Service Charges		 3.71 2.34 3.58 - 3.95 - 3.73 - - - 2.74
Provision for Credit Losses		 0.50 0.50 0.30 4.04 0.20 0.40 0.60 2.36 1.33 6.10 0.53
Total Non-Interest Expense		 10 11 11 12 12 12 16 13 12 12 16
Salaries and Employee Benefits		 5.35 5.41 5.56 6.50 6.84 6.70 7.23 7.00 6.77 6.88 10
Net Occupancy & Equipment Expense		 2.27 2.16 2.29 2.34 2.35 2.35 2.43 2.42 2.27 2.38 2.49
Property & Liability Insurance Claims		 0.39 - 0.32 0.37 0.36 0.38 0.34 0.37 0.33 0.35 0.36
Other Operating Expenses		 2.31 2.63 2.64 2.47 2.69 2.98 6.00 2.83 2.63 2.76 2.63
Income Tax Expense		 1.17 1.32 1.35 0.32 1.08 1.29 0.24 0.94 1.18 0.10 1.10
Basic Earnings per Share		 $0.48 $0.42 $0.55 $0.11 $0.48 $0.53 $0.20 $0.33 $0.47 $0.01 $0.25
Weighted Average Basic Shares Outstanding		 7.18M 7.33M 7.25M 7.13M 7.15M 7.20M 7.23M 7.22M 7.19M 7.17M 7.16M
Diluted Earnings per Share		 $0.48 $0.42 $0.55 $0.11 $0.48 $0.52 $0.20 $0.33 $0.47 - $0.25
Weighted Average Diluted Shares Outstanding		 7.18M 7.33M 7.25M 7.13M 7.15M 7.20M 7.23M 7.22M 7.19M 7.17M 7.16M
Weighted Average Basic & Diluted Shares Outstanding		 7.18M 7.33M 7.25M 7.13M 7.15M 7.20M 7.23M 7.22M 7.19M 7.17M 7.16M
Cash Dividends to Common per Share		 $0.10 - $0.10 $0.10 $0.10 - $0.10 $0.10 $0.10 - $0.10

Annual Cash Flow Statements for Hanover Bancorp

This table details how cash moves in and out of Hanover Bancorp's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric 2020 2021 2022 2023 2024 2025
Period end date 9/30/2020 9/30/2021 9/30/2022 9/30/2023 12/31/2024 12/31/2025
Net Change in Cash & Equivalents		 -7.62 86 -17 43 -14 46
Net Cash From Operating Activities		 0.57 13 25 16 5.44 13
Net Cash From Continuing Operating Activities		 0.57 13 25 16 5.44 13
Net Income / (Loss) Continuing Operations		 4.97 11 24 15 12 7.49
Consolidated Net Income / (Loss)		 4.97 11 24 15 12 7.49
Provision For Loan Losses		 1.25 1.00 4.45 3.43 4.94 10
Depreciation Expense		 1.34 1.44 1.66 1.81 2.09 2.01
Amortization Expense		 -0.27 -3.50 -3.43 0.99 2.84 4.01
Non-Cash Adjustments to Reconcile Net Income		 -0.04 -0.40 -3.07 -2.97 -11 -9.97
Changes in Operating Assets and Liabilities, net		 -6.69 3.79 1.92 -2.02 -6.01 -0.86
Net Cash From Investing Activities		 -7.29 90 -374 -256 -45 -28
Net Cash From Continuing Investing Activities		 -7.29 90 -374 -256 -45 -28
Purchase of Property, Leasehold Improvements and Equipment		 -1.09 -2.08 -1.12 -3.41 -1.29 -0.87
Purchase of Investment Securities		 -43 -21 -465 -299 -775 -247
Sale of Property, Leasehold Improvements and Equipment		 - - - - 128 100
Sale and/or Maturity of Investments		 36 54 92 46 602 120
Net Cash From Financing Activities		 -0.90 -17 332 283 26 61
Net Cash From Continuing Financing Activities		 -0.90 -17 332 283 26 61
Net Change in Deposits		 14 158 365 207 50 74
Issuance of Debt		 40 24 55 101 20 0.00
Repayment of Debt		 -56 -199 -113 -23 -41 -7.08
Repurchase of Common Equity		 - - - - 0.00 -1.83
Payment of Dividends		 - 0.00 -2.04 -2.93 -2.96 -3.01
Other Financing Activities, Net		 0.11 0.00 -0.03 -0.06 -0.27 -1.25
Cash Interest Paid		 13 7.10 7.55 50 80 70
Cash Income Taxes Paid		 1.24 1.38 6.47 4.40 4.03 2.58

Quarterly Cash Flow Statements for Hanover Bancorp

This table details how cash moves in and out of Hanover Bancorp's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 9/30/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026
Net Change in Cash & Equivalents		 -19 2.35 -41 4.63 0.12 22 -2.62 4.30 3.03 41 -14
Net Cash From Operating Activities		 0.90 6.08 3.60 -3.10 -0.55 1.33 0.28 -2.06 2.75 8.25 -2.51
Net Cash From Continuing Operating Activities		 0.90 6.08 3.60 -3.10 -0.55 1.33 0.28 -2.06 2.75 8.25 -2.51
Net Income / (Loss) Continuing Operations		 3.52 5.34 4.06 0.84 3.54 3.90 1.52 2.44 3.49 0.03 1.87
Consolidated Net Income / (Loss)		 3.52 5.34 4.06 0.84 3.54 3.90 1.52 2.44 3.49 0.03 1.87
Provision For Loan Losses		 0.50 1.50 0.30 4.04 0.20 0.40 0.60 2.36 1.33 6.10 0.53
Depreciation Expense		 0.52 0.42 0.55 0.55 0.50 0.50 0.49 0.48 0.50 0.53 0.51
Amortization Expense		 0.46 0.27 0.73 0.51 0.99 0.61 0.90 1.12 0.76 1.23 2.40
Non-Cash Adjustments to Reconcile Net Income		 -1.48 -0.40 -2.41 -3.86 -5.87 -2.79 -5.86 -5.50 -3.12 0.68 -10
Changes in Operating Assets and Liabilities, net		 -2.61 -1.05 0.36 -5.18 0.10 -1.28 2.63 -2.96 -0.21 -0.32 2.45
Net Cash From Investing Activities		 -47 -129 -76 -16 8.85 42 17 -7.72 -15 -18 1.85
Net Cash From Continuing Investing Activities		 -47 -129 -76 -16 8.85 42 17 -7.72 -15 -18 1.85
Purchase of Property, Leasehold Improvements and Equipment		 -0.32 -0.85 -0.31 -1.44 -0.33 0.79 -0.23 -0.09 -0.32 -0.23 -0.18
Purchase of Investment Securities		 -62 -131 -286 -228 -180 -94 -88 -29 -66 -47 -18
Sale of Property, Leasehold Improvements and Equipment		 - - - - -63 - 31 - -60 100 5.48
Sale and/or Maturity of Investments		 16 2.80 211 150 252 136 74 -39 111 -72 14
Net Cash From Financing Activities		 27 126 32 24 -8.19 -22 -20 14 15 51 -14
Net Cash From Continuing Financing Activities		 27 126 32 24 -8.19 -22 -20 14 15 51 -14
Net Change in Deposits		 142 -10 13 25 16 -3.22 -18 15 24 54 -6.04
Issuance of Debt		 -111 143 25 20 -7.00 -18 0.00 - - - 94
Repayment of Debt		 -3.00 -6.43 -5.00 -20 -16 - 0.00 - -7.08 - -101
Payment of Dividends		 -0.73 -0.73 -0.74 -0.74 -0.74 -0.74 -0.75 -0.75 -0.75 -0.76 -0.75
Other Financing Activities, Net		 -0.01 0.10 -0.15 0.06 0.02 -0.13 -1.19 -0.01 -0.02 -0.03 -0.33
Cash Interest Paid		 17 7.38 19 21 21 20 18 18 17 17 16
Cash Income Taxes Paid		 0.53 0.05 0.81 1.79 1.43 0.00 0.18 0.98 1.36 0.06 0.18

Annual Balance Sheets for Hanover Bancorp

This table presents Hanover Bancorp's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric 2020 2021 2022 2023 2024 2025
Period end date 9/30/2020 9/30/2021 9/30/2022 12/31/2023 12/31/2024 12/31/2025
Total Assets		 852 1,485 1,840 2,270 2,312 2,383
Cash and Due from Banks		 6.24 8.30 9.93 10 13 96
Interest Bearing Deposits at Other Banks		 74 143 140 166 150 113
Trading Account Securities		 17 16 17 65 88 101
Loans and Leases, Net of Allowance		 -7.87 -8.55 -13 1,938 1,963 1,982
Loans and Leases		 - - - 1,957 1,986 2,001
Allowance for Loan and Lease Losses		 7.87 8.55 13 20 23 19
Loans Held for Sale		 - - - 8.90 12 6.41
Premises and Equipment, Net		 14 15 14 16 15 14
Goodwill		 1.90 19 19 19 19 19
Other Assets		 746 1,276 1,652 46 52 52
Total Liabilities & Shareholders' Equity		 852 1,485 1,840 2,270 2,312 2,383
Total Liabilities		 774 1,362 1,667 2,085 2,115 2,183
Non-Interest Bearing Deposits		 82 192 219 208 212 248
Interest Bearing Deposits		 582 973 1,309 1,697 1,743 1,781
Short-Term Debt		 85 160 102 129 108 101
Accrued Interest Payable		 0.37 1.29 0.92 1.72 1.53 1.74
Long-Term Debt		 15 25 25 25 25 25
Other Long-Term Liabilities		 8.29 12 12 25 27 27
Commitments & Contingencies		 - 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 78 123 173 185 197 200
Total Preferred & Common Equity		 78 123 173 185 197 200
Preferred Stock		 0.00 0.00 0.00 2.96 5.04 5.04
Total Common Equity		 78 123 173 182 192 195
Common Stock		 64 97 127 126 125 124
Retained Earnings		 14 25 46 59 68 72
Accumulated Other Comprehensive Income / (Loss)		 0.16 0.26 -0.62 -2.45 -1.33 -0.68

Quarterly Balance Sheets for Hanover Bancorp

This table presents Hanover Bancorp's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric Q1 2024 Q2 2024 Q3 2024 Q1 2025 Q2 2025 Q3 2025 Q1 2026
Period end date 3/31/2024 6/30/2024 9/30/2024 3/31/2025 6/30/2025 9/30/2025 3/31/2026
Total Assets		 2,308 2,331 2,328 2,292 2,312 2,332 2,371
Cash and Due from Banks		 5.44 8.40 9.77 12 12 14 15
Interest Bearing Deposits at Other Banks		 131 133 131 148 152 154 180
Trading Account Securities		 97 103 102 97 106 104 107
Loans and Leases, Net of Allowance		 1,986 1,989 1,982 1,938 1,945 1,966 1,974
Loans and Leases		 2,006 2,013 2,006 1,961 1,966 1,989 1,993
Allowance for Loan and Lease Losses		 20 24 23 23 22 22 19
Loans Held for Sale		 7.64 12 17 16 11 8.85 16
Premises and Equipment, Net		 16 17 16 15 14 15 14
Goodwill		 19 19 19 19 19 19 19
Other Assets		 46 50 49 46 52 51 47
Total Liabilities & Shareholders' Equity		 2,308 2,331 2,328 2,292 2,312 2,332 2,371
Total Liabilities		 2,118 2,141 2,135 2,095 2,113 2,130 2,170
Non-Interest Bearing Deposits		 203 200 206 216 244 233 237
Interest Bearing Deposits		 1,714 1,742 1,751 1,721 1,708 1,742 1,785
Short-Term Debt		 149 149 126 108 108 101 60
Accrued Interest Payable		 2.03 1.64 1.87 1.87 1.47 1.81 1.68
Long-Term Debt		 25 25 25 25 25 25 59
Other Long-Term Liabilities		 25 24 26 24 28 28 27
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 190 190 192 197 199 202 201
Total Preferred & Common Equity		 190 190 192 197 199 202 201
Preferred Stock		 2.96 5.04 5.04 5.04 5.04 5.04 5.04
Total Common Equity		 187 185 187 192 194 197 196
Common Stock		 126 124 125 124 125 124 124
Retained Earnings		 62 62 65 69 70 73 74
Accumulated Other Comprehensive Income / (Loss)		 -1.29 -1.33 -2.12 -1.40 -1.23 -0.78 -0.66

Annual Metrics And Ratios for Hanover Bancorp

This table displays calculated financial ratios and metrics derived from Hanover Bancorp's official financial filings.

Metric 2020 2021 2022 2023 2024 2025
Period end date 9/30/2020 9/30/2021 9/30/2022 9/30/2023 12/31/2024 12/31/2025
DEI Shares Outstanding		 0.00 5,551,290.00 7,293,430.00 7,184,120.00 - 7,192,390.00
DEI Adjusted Shares Outstanding		 0.00 5,551,290.00 7,293,430.00 7,184,120.00 - 7,192,390.00
DEI Earnings Per Adjusted Shares Outstanding		 0.00 1.95 3.23 2.11 - 1.04
Growth Metrics		 - - - - - -
Revenue Growth		 0.00% 58.17% 55.64% -9.68% 8.04% 7.14%
EBITDA Growth		 0.00% 64.71% 139.45% -19.98% -7.29% -25.06%
EBIT Growth		 0.00% 126.13% 117.02% -33.80% -18.86% -39.23%
NOPAT Growth		 0.00% 118.15% 117.09% -35.63% -18.58% -39.35%
Net Income Growth		 0.00% 118.15% 117.09% -35.63% -18.58% -39.35%
EPS Growth		 0.00% 93.22% 61.40% -44.29% -19.02% -39.76%
Operating Cash Flow Growth		 0.00% 2,230.74% 90.12% -34.61% -64.03% 139.91%
Free Cash Flow Firm Growth		 0.00% 0.00% 126.63% -177.71% 188.84% -49.68%
Invested Capital Growth		 0.00% 72.12% -2.54% 13.22% -2.74% -1.03%
Revenue Q/Q Growth		 0.00% 0.00% 0.00% -4.43% 3.82% 0.83%
EBITDA Q/Q Growth		 0.00% 0.00% 0.00% -8.91% 5.94% -21.63%
EBIT Q/Q Growth		 0.00% 0.00% 0.00% -13.41% 5.01% -33.70%
NOPAT Q/Q Growth		 0.00% 0.00% 0.00% -15.27% 7.00% -34.07%
Net Income Q/Q Growth		 0.00% 0.00% 0.00% -15.27% 7.00% -34.07%
EPS Q/Q Growth		 0.00% 0.00% 0.00% -12.77% 6.41% -34.21%
Operating Cash Flow Q/Q Growth		 0.00% 0.00% 6.91% -9.66% -44.57% 21.36%
Free Cash Flow Firm Q/Q Growth		 0.00% 0.00% 0.00% 0.00% -87.27% -59.52%
Invested Capital Q/Q Growth		 0.00% 0.00% 0.00% -32.49% -3.99% -0.47%
Profitability Metrics		 - - - - - -
EBITDA Margin		 25.57% 26.62% 40.96% 36.29% 31.14% 21.78%
EBIT Margin		 21.81% 31.19% 43.49% 31.87% 23.94% 13.58%
Profit (Net Income) Margin		 17.46% 24.08% 33.59% 23.94% 18.04% 10.21%
Tax Burden Percent		 80.05% 77.22% 77.25% 75.12% 75.38% 75.23%
Interest Burden Percent		 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%
Effective Tax Rate		 19.95% 22.78% 22.75% 24.88% 24.62% 24.77%
Return on Invested Capital (ROIC)		 2.79% 4.48% 7.78% 4.76% 3.70% 2.29%
ROIC Less NNEP Spread (ROIC-NNEP)		 2.79% 4.48% 7.78% 4.76% 3.70% 2.29%
Return on Net Nonoperating Assets (RNNOA)		 3.58% 6.34% 8.18% 3.73% 2.77% 1.49%
Return on Equity (ROE)		 6.37% 10.82% 15.96% 8.49% 6.47% 3.77%
Cash Return on Invested Capital (CROIC)		 0.00% -48.53% 10.35% -7.64% 6.48% 3.32%
Operating Return on Assets (OROA)		 0.73% 1.20% 1.83% 0.98% 0.71% 0.42%
Return on Assets (ROA)		 0.58% 0.93% 1.42% 0.74% 0.54% 0.32%
Return on Common Equity (ROCE)		 6.37% 10.82% 15.96% 8.42% 6.34% 3.68%
Return on Equity Simple (ROE_SIMPLE)		 6.37% 8.86% 13.65% 8.20% 6.28% 3.74%
Net Operating Profit after Tax (NOPAT)		 4.97 11 24 15 12 7.49
NOPAT Margin		 17.46% 24.08% 33.59% 23.94% 18.04% 10.21%
Net Nonoperating Expense Percent (NNEP)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
SG&A Expenses to Revenue		 59.16% 46.91% 38.40% 45.72% 51.03% 50.98%
Operating Expenses to Revenue		 73.80% 66.59% 50.17% 62.71% 68.85% 72.26%
Earnings before Interest and Taxes (EBIT)		 6.21 14 30 20 16 9.95
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 7.28 12 29 23 21 16
Valuation Ratios		 - - - - - -
Price to Book Value (P/BV)		 0.38 0.24 0.77 0.69 0.86 0.85
Price to Tangible Book Value (P/TBV)		 0.39 0.29 0.87 0.78 0.95 0.94
Price to Revenue (P/Rev)		 1.05 0.67 1.90 1.99 2.40 2.26
Price to Earnings (P/E)		 6.03 2.76 5.66 8.30 13.31 22.10
Dividend Yield		 0.00% 0.00% 1.09% 2.28% 1.74% 1.74%
Earnings Yield		 16.58% 36.17% 17.66% 12.05% 7.52% 4.52%
Enterprise Value to Invested Capital (EV/IC)		 0.28 0.16 0.37 0.31 0.42 0.27
Enterprise Value to Revenue (EV/Rev)		 1.75 1.06 1.57 1.66 2.03 1.19
Enterprise Value to EBITDA (EV/EBITDA)		 6.86 3.97 3.82 4.58 6.52 5.45
Enterprise Value to EBIT (EV/EBIT)		 8.03 3.39 3.60 5.21 8.48 8.75
Enterprise Value to NOPAT (EV/NOPAT)		 10.04 4.39 4.66 6.94 11.25 11.63
Enterprise Value to Operating Cash Flow (EV/OCF)		 88.21 3.61 4.38 6.41 23.55 6.67
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 0.00 3.50 0.00 6.42 8.00
Leverage & Solvency		 - - - - - -
Debt to Equity		 1.28 1.50 0.73 0.83 0.67 0.63
Long-Term Debt to Equity		 0.19 0.20 0.14 0.13 0.13 0.12
Financial Leverage		 1.28 1.42 1.05 0.78 0.75 0.65
Leverage Ratio		 10.91 11.65 11.27 11.50 12.01 11.83
Compound Leverage Factor		 10.91 11.65 11.27 11.50 12.01 11.83
Debt to Total Capital		 56.20% 60.05% 42.26% 45.38% 40.26% 38.52%
Short-Term Debt to Total Capital		 47.79% 52.05% 34.04% 38.10% 32.75% 30.92%
Long-Term Debt to Total Capital		 8.41% 7.99% 8.22% 7.28% 7.50% 7.60%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.88% 1.53% 1.55%
Noncontrolling Interests to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Common Equity to Total Capital		 43.80% 39.95% 57.74% 53.74% 58.21% 59.93%
Debt to EBITDA		 13.75 15.35 4.40 6.68 6.22 7.86
Net Debt to EBITDA		 2.74 1.47 -0.82 -1.03 -1.43 -5.22
Long-Term Debt to EBITDA		 2.06 2.04 0.86 1.07 1.16 1.55
Debt to NOPAT		 20.13 16.97 5.36 10.13 10.73 16.76
Net Debt to NOPAT		 4.01 1.62 -1.00 -1.56 -2.46 -11.14
Long-Term Debt to NOPAT		 3.01 2.26 1.04 1.62 2.00 3.30
Noncontrolling Interest Sharing Ratio		 0.00% 0.00% 0.00% 0.83% 2.10% 2.54%
Liquidity Ratios		 - - - - - -
Cash Flow Metrics		 - - - - - -
Free Cash Flow to Firm (FCFF)		 0.00 -118 31 -24 22 11
Operating Cash Flow to CapEx		 51.78% 634.54% 2,235.38% 481.39% 456.58% 0.00%
Free Cash Flow to Firm to Interest Expense		 0.00 -16.89 4.37 -0.48 0.27 0.16
Operating Cash Flow to Interest Expense		 0.04 1.89 3.50 0.32 0.07 0.19
Operating Cash Flow Less CapEx to Interest Expense		 -0.04 1.60 3.34 0.26 0.06 1.61
Efficiency Ratios		 - - - - - -
Asset Turnover		 0.03 0.04 0.04 0.03 0.03 0.03
Fixed Asset Turnover		 2.01 3.09 4.76 4.17 4.38 4.95
Capital & Investment Metrics		 - - - - - -
Invested Capital		 178 307 299 338 329 326
Invested Capital Turnover		 0.16 0.19 0.23 0.20 0.21 0.22
Increase / (Decrease) in Invested Capital		 0.00 129 -7.78 40 -9.29 -3.40
Enterprise Value (EV)		 50 48 110 105 139 87
Market Capitalization		 30 30 133 126 164 165
Book Value per Share		 $18.75 $22.03 $23.66 $25.32 $26.79 $27.14
Tangible Book Value per Share		 $18.29 $18.49 $20.98 $22.60 $24.07 $24.48
Total Capital		 178 307 299 338 329 326
Total Debt		 100 184 126 154 132 125
Total Long-Term Debt		 15 25 25 25 25 25
Net Debt		 20 18 -24 -24 -30 -83
Capital Expenditures (CapEx)		 1.09 2.08 1.12 3.41 1.29 -100
Net Nonoperating Expense (NNE)		 0.00 0.00 0.00 0.00 0.00 0.00
Net Nonoperating Obligations (NNO)		 100 184 126 154 132 125
Total Depreciation and Amortization (D&A)		 1.07 -2.06 -1.77 2.80 4.93 6.02
Earnings Adjustments		 - - - - - -
Adjusted Basic Earnings per Share		 $0.00 $2.32 $3.74 $2.07 $1.67 $1.01
Adjusted Weighted Average Basic Shares Outstanding		 0.00 4.67M 7.15M 7.33M 7.20M 7.17M
Adjusted Diluted Earnings per Share		 $0.00 $2.28 $3.68 $2.05 $1.66 $1.00
Adjusted Weighted Average Diluted Shares Outstanding		 0.00 4.76M 7.15M 7.33M 7.20M 7.17M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 0.00 5.56M 7.15M 7.33M 7.20M 7.17M
Normalized Net Operating Profit after Tax (NOPAT)		 5.33 14 24 15 12 7.49
Normalized NOPAT Margin		 18.73% 31.68% 33.87% 23.94% 18.04% 10.21%
Pre Tax Income Margin		 21.81% 31.19% 43.49% 31.87% 23.94% 13.58%
Debt Service Ratios		 - - - - - -
EBIT to Interest Expense		 0.48 2.02 4.25 0.40 0.20 0.14
NOPAT to Interest Expense		 0.38 1.56 3.28 0.30 0.15 0.11
EBIT Less CapEx to Interest Expense		 0.39 1.72 4.09 0.33 0.19 1.57
NOPAT Less CapEx to Interest Expense		 0.30 1.26 3.13 0.23 0.14 1.53
Payout Ratios		 - - - - - -
Dividend Payout Ratio		 0.00% 0.00% 8.67% 19.32% 23.98% 40.18%
Augmented Payout Ratio		 0.00% 0.00% 8.67% 19.32% 23.98% 64.62%

Quarterly Metrics And Ratios for Hanover Bancorp

This table displays calculated financial ratios and metrics derived from Hanover Bancorp's official financial filings.

Metric Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 9/30/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026
DEI Shares Outstanding		 7,184,120.00 7,184,120.00 7,229,404.00 7,249,469.00 7,125,663.00 - 7,200,883.00 7,228,731.00 7,215,194.00 7,192,390.00 7,172,128.00
DEI Adjusted Shares Outstanding		 7,184,120.00 7,184,120.00 7,229,404.00 7,249,469.00 7,125,663.00 - 7,200,883.00 7,228,731.00 7,215,194.00 7,192,390.00 7,172,128.00
DEI Earnings Per Adjusted Shares Outstanding		 0.49 0.43 0.56 0.12 0.50 - 0.21 0.34 0.48 0.00 0.26
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 -6.86% -15.96% -0.98% 7.58% 10.00% 16.25% 11.20% 8.82% 5.58% 3.33% 4.06%
EBITDA Growth		 -21.16% -30.58% -7.18% -55.75% 7.78% 23.39% -52.76% 124.75% -2.82% -69.96% 86.13%
EBIT Growth		 -32.22% -41.46% -21.68% -72.28% -1.51% 17.72% -67.36% 191.89% 1.13% -97.38% 68.27%
NOPAT Growth		 -33.94% -46.89% -23.92% -73.70% 0.45% 26.12% -62.55% 189.46% -1.36% -99.15% 23.21%
Net Income Growth		 -33.94% -46.89% -23.92% -73.70% 0.45% 26.12% -62.55% 189.46% -1.36% -99.15% 23.21%
EPS Growth		 -40.00% -41.67% -23.61% -74.42% 0.00% 23.81% -63.64% 200.00% -2.08% 0.00% 25.00%
Operating Cash Flow Growth		 -87.95% -22.40% -40.82% -192.74% -160.51% -78.05% -92.10% 33.56% 602.56% 50.16% -984.86%
Free Cash Flow Firm Growth		 -2.16% 0.00% 118.71% 79.98% 165.10% 136.21% -56.37% 267.22% -88.26% -73.98% -69.64%
Invested Capital Growth		 101.38% 13.22% -17.56% 6.32% -31.61% -2.74% -9.36% -8.88% -4.53% -1.03% -2.71%
Revenue Q/Q Growth		 -1.11% -0.17% 6.67% 2.17% 1.11% 5.51% 2.03% -0.03% -1.90% 3.26% 2.75%
EBITDA Q/Q Growth		 13.03% -9.89% 30.95% -66.82% 175.29% 3.16% -49.87% 57.85% 19.04% -68.12% 210.68%
EBIT Q/Q Growth		 12.15% -5.89% 22.52% -78.56% 298.45% 12.49% -66.03% 91.67% 38.04% -97.09% 2,083.82%
NOPAT Q/Q Growth		 9.79% -12.18% 31.25% -79.22% 319.31% 10.26% -61.02% 60.62% 42.90% -99.05% 5,578.79%
Net Income Q/Q Growth		 9.79% -12.18% 31.25% -79.22% 319.31% 10.26% -61.02% 60.62% 42.90% -99.05% 5,578.79%
EPS Q/Q Growth		 11.63% -12.50% 30.95% -80.00% 336.36% 8.33% -61.54% 65.00% 42.42% 0.00% 0.00%
Operating Cash Flow Q/Q Growth		 -72.97% 572.23% -40.84% -186.29% 82.37% -44.07% -94.83% -150.11% 233.38% 200.11% -130.46%
Free Cash Flow Firm Q/Q Growth		 -139.87% 85.36% 323.50% -125.51% 880.08% -91.86% 169.30% -2.23% -45.22% -81.96% 214.25%
Invested Capital Q/Q Growth		 46.53% -32.49% 7.31% 0.15% -5.74% -3.99% 0.01% 0.69% -1.24% -0.47% -1.69%
Profitability Metrics		 - - - - - - - - - - -
EBITDA Margin		 36.53% 32.98% 40.49% 13.15% 35.80% 35.00% 17.20% 27.16% 32.95% 10.17% 30.77%
EBIT Margin		 30.24% 28.51% 32.75% 6.87% 27.08% 28.87% 9.61% 18.43% 25.93% 0.73% 15.54%
Profit (Net Income) Margin		 22.72% 19.99% 24.60% 5.00% 20.75% 21.68% 8.28% 13.31% 19.39% 0.18% 9.81%
Tax Burden Percent		 75.13% 70.11% 75.11% 72.82% 76.63% 75.11% 86.18% 72.21% 74.75% 24.26% 63.10%
Interest Burden Percent		 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%
Effective Tax Rate		 24.87% 29.89% 24.89% 27.18% 23.37% 24.89% 13.82% 27.79% 25.25% 75.74% 36.90%
Return on Invested Capital (ROIC)		 4.01% 3.97% 3.87% 0.91% 3.24% 4.45% 1.68% 2.75% 4.21% 0.04% 2.24%
ROIC Less NNEP Spread (ROIC-NNEP)		 4.01% 3.97% 3.87% 0.91% 3.24% 4.45% 1.68% 2.75% 4.21% 0.04% 2.24%
Return on Net Nonoperating Assets (RNNOA)		 4.59% 3.11% 4.60% 0.83% 4.05% 3.33% 1.33% 2.16% 2.95% 0.03% 1.41%
Return on Equity (ROE)		 8.60% 7.08% 8.46% 1.74% 7.29% 7.78% 3.02% 4.91% 7.15% 0.07% 3.65%
Cash Return on Invested Capital (CROIC)		 0.00% -7.64% 22.70% -2.86% 40.28% 6.48% 12.65% 12.57% 8.03% 3.32% 5.16%
Operating Return on Assets (OROA)		 1.07% 0.88% 0.96% 0.20% 0.80% 0.86% 0.29% 0.57% 0.81% 0.02% 0.49%
Return on Assets (ROA)		 0.81% 0.62% 0.72% 0.15% 0.61% 0.65% 0.25% 0.41% 0.61% 0.01% 0.31%
Return on Common Equity (ROCE)		 8.53% 7.03% 8.33% 1.70% 7.14% 7.62% 2.95% 4.78% 6.97% 0.06% 3.56%
Return on Equity Simple (ROE_SIMPLE)		 9.79% 0.00% 7.33% 6.06% 6.00% 0.00% 4.99% 5.73% 5.63% 0.00% 3.89%
Net Operating Profit after Tax (NOPAT)		 3.52 3.09 4.06 0.84 3.54 3.90 1.52 2.44 3.49 0.03 1.87
NOPAT Margin		 22.72% 19.99% 24.60% 5.00% 20.75% 21.68% 8.28% 13.31% 19.39% 0.18% 9.81%
Net Nonoperating Expense Percent (NNEP)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
SG&A Expenses to Revenue		 49.17% 48.89% 47.54% 52.39% 53.86% 50.26% 52.62% 51.32% 50.24% 49.76% 66.04%
Operating Expenses to Revenue		 66.54% 68.26% 65.44% 69.18% 71.75% 68.91% 87.12% 68.73% 66.71% 66.46% 81.68%
Earnings before Interest and Taxes (EBIT)		 4.69 4.41 5.41 1.16 4.62 5.20 1.77 3.38 4.67 0.14 2.97
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 5.67 5.11 6.69 2.22 6.11 6.30 3.16 4.99 5.93 1.89 5.88
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 0.70 0.69 0.56 0.63 0.67 0.86 0.81 0.85 0.82 0.85 0.79
Price to Tangible Book Value (P/TBV)		 0.79 0.78 0.62 0.71 0.75 0.95 0.90 0.94 0.91 0.94 0.87
Price to Revenue (P/Rev)		 1.91 1.99 1.64 1.81 1.90 2.40 2.21 2.29 2.23 2.26 2.09
Price to Earnings (P/E)		 7.06 8.30 7.47 10.14 10.85 13.31 15.82 14.44 14.26 22.10 19.75
Dividend Yield		 2.27% 2.28% 2.77% 2.48% 2.28% 1.74% 1.86% 1.76% 1.78% 1.74% 1.85%
Earnings Yield		 14.17% 12.05% 13.38% 9.87% 9.22% 7.52% 6.32% 6.93% 7.01% 4.52% 5.06%
Enterprise Value to Invested Capital (EV/IC)		 0.47 0.31 0.40 0.42 0.41 0.42 0.40 0.42 0.38 0.27 0.26
Enterprise Value to Revenue (EV/Rev)		 3.56 1.66 2.28 2.40 2.12 2.03 1.88 1.92 1.72 1.19 1.14
Enterprise Value to EBITDA (EV/EBITDA)		 9.36 4.58 6.40 7.84 6.93 6.52 7.45 6.70 6.13 5.45 4.51
Enterprise Value to EBIT (EV/EBIT)		 10.13 5.21 7.70 9.85 8.94 8.48 10.39 9.20 8.32 8.75 7.55
Enterprise Value to NOPAT (EV/NOPAT)		 13.20 6.94 10.36 13.39 12.09 11.25 13.50 12.07 11.00 11.63 10.74
Enterprise Value to Operating Cash Flow (EV/OCF)		 13.01 6.41 10.34 20.65 23.16 23.55 62.19 18.46 11.61 6.67 8.22
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 0.00 1.58 0.00 0.82 6.42 3.02 3.15 4.65 8.00 5.03
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 1.74 0.83 0.92 0.91 0.78 0.67 0.67 0.67 0.62 0.63 0.59
Long-Term Debt to Equity		 0.13 0.13 0.13 0.13 0.13 0.13 0.13 0.12 0.12 0.12 0.29
Financial Leverage		 1.14 0.78 1.19 0.90 1.25 0.75 0.79 0.79 0.70 0.65 0.63
Leverage Ratio		 10.66 11.50 11.69 11.88 11.86 12.01 11.91 11.94 11.82 11.83 11.71
Compound Leverage Factor		 10.66 11.50 11.69 11.88 11.86 12.01 11.91 11.94 11.82 11.83 11.71
Debt to Total Capital		 63.53% 45.38% 47.81% 47.74% 43.89% 40.26% 40.26% 39.99% 38.33% 38.52% 37.10%
Short-Term Debt to Total Capital		 58.62% 38.10% 41.02% 40.96% 36.70% 32.75% 32.75% 32.53% 30.78% 30.92% 18.67%
Long-Term Debt to Total Capital		 4.91% 7.28% 6.79% 6.78% 7.20% 7.50% 7.50% 7.46% 7.56% 7.60% 18.43%
Preferred Equity to Total Capital		 0.59% 0.88% 0.82% 1.39% 1.47% 1.53% 1.53% 1.52% 1.54% 1.55% 1.57%
Noncontrolling Interests to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Common Equity to Total Capital		 35.88% 53.74% 51.38% 50.88% 54.63% 58.21% 58.21% 58.49% 60.13% 59.93% 61.33%
Debt to EBITDA		 12.62 6.68 7.73 8.83 7.48 6.22 7.45 6.45 6.16 7.86 6.36
Net Debt to EBITDA		 4.24 -1.03 1.65 1.65 0.46 -1.43 -1.56 -1.56 -2.07 -5.22 -4.05
Long-Term Debt to EBITDA		 0.98 1.07 1.10 1.25 1.23 1.16 1.39 1.20 1.21 1.55 3.16
Debt to NOPAT		 17.79 10.13 12.50 15.07 13.04 10.73 13.51 11.62 11.05 16.76 15.15
Net Debt to NOPAT		 5.97 -1.56 2.67 2.82 0.80 -2.46 -2.83 -2.81 -3.71 -11.14 -9.65
Long-Term Debt to NOPAT		 1.38 1.62 1.77 2.14 2.14 2.00 2.52 2.17 2.18 3.30 7.53
Noncontrolling Interest Sharing Ratio		 0.85% 0.83% 1.61% 2.16% 2.13% 2.10% 2.07% 2.59% 2.56% 2.54% 2.53%
Liquidity Ratios		 - - - - - - - - - - -
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 -249 -36 81 -21 162 13 36 35 19 3.43 11
Operating Cash Flow to CapEx		 286.08% 719.17% 1,167.21% -214.82% -0.86% 0.00% 0.00% -2,290.00% 4.55% 0.00% 0.00%
Free Cash Flow to Firm to Interest Expense		 -14.51 -2.44 4.17 -1.03 7.71 0.69 1.95 2.01 1.07 0.20 0.68
Operating Cash Flow to Interest Expense		 0.05 0.41 0.18 -0.15 -0.03 0.07 0.02 -0.12 0.15 0.49 -0.16
Operating Cash Flow Less CapEx to Interest Expense		 0.03 0.35 0.17 -0.23 -3.05 0.11 1.68 -0.12 -3.24 6.45 0.18
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.04 0.03 0.03 0.03 0.03 0.03 0.03 0.03 0.03 0.03 0.03
Fixed Asset Turnover		 4.28 4.17 4.14 3.99 4.04 4.38 4.66 4.64 4.70 4.95 5.19
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 501 338 363 364 343 329 329 331 327 326 320
Invested Capital Turnover		 0.18 0.20 0.16 0.18 0.16 0.21 0.20 0.21 0.22 0.22 0.23
Increase / (Decrease) in Invested Capital		 252 40 -77 22 -158 -9.29 -34 -32 -16 -3.40 -8.91
Enterprise Value (EV)		 236 105 144 154 139 139 132 138 125 87 84
Market Capitalization		 126 126 104 117 125 164 155 165 162 165 155
Book Value per Share		 $25.03 $25.32 $25.74 $25.52 $26.29 $26.79 $26.51 $26.82 $27.27 $27.14 $27.38
Tangible Book Value per Share		 $22.32 $22.60 $23.05 $22.84 $23.56 $24.07 $23.82 $24.13 $24.59 $24.48 $24.71
Total Capital		 501 338 363 364 343 329 329 331 327 326 320
Total Debt		 318 154 174 174 150 132 133 133 125 125 119
Total Long-Term Debt		 25 25 25 25 25 25 25 25 25 25 59
Net Debt		 107 -24 37 33 9.25 -30 -28 -32 -42 -83 -76
Capital Expenditures (CapEx)		 0.32 0.85 0.31 1.44 63 -0.79 -30 0.09 60 -100 -5.30
Net Nonoperating Expense (NNE)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Net Nonoperating Obligations (NNO)		 318 154 174 174 150 132 133 133 125 125 119
Total Depreciation and Amortization (D&A)		 0.98 0.69 1.28 1.06 1.49 1.10 1.39 1.60 1.26 1.76 2.91
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 $0.42 $0.42 $0.55 $0.11 $0.48 $0.53 $0.20 $0.33 $0.47 $0.01 $0.25
Adjusted Weighted Average Basic Shares Outstanding		 7.18M 7.33M 7.25M 7.13M 7.15M 7.20M 7.23M 7.22M 7.19M 7.17M 7.16M
Adjusted Diluted Earnings per Share		 $0.42 $0.42 $0.55 $0.11 $0.48 $0.52 $0.20 $0.33 $0.47 $0.00 $0.25
Adjusted Weighted Average Diluted Shares Outstanding		 7.18M 7.33M 7.25M 7.13M 7.15M 7.20M 7.23M 7.22M 7.19M 7.17M 7.16M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 7.18M 7.33M 7.25M 7.13M 7.15M 7.20M 7.23M 7.22M 7.19M 7.17M 7.16M
Normalized Net Operating Profit after Tax (NOPAT)		 3.52 3.09 4.06 0.84 3.54 3.90 1.52 2.44 3.49 0.10 1.87
Normalized NOPAT Margin		 22.72% 19.99% 24.60% 5.00% 20.75% 21.68% 8.28% 13.31% 19.39% 0.51% 9.81%
Pre Tax Income Margin		 30.24% 28.51% 32.75% 6.87% 27.08% 28.87% 9.61% 18.43% 25.93% 0.73% 15.54%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 0.27 0.30 0.28 0.06 0.22 0.27 0.10 0.20 0.26 0.01 0.19
NOPAT to Interest Expense		 0.21 0.21 0.21 0.04 0.17 0.20 0.08 0.14 0.20 0.00 0.12
EBIT Less CapEx to Interest Expense		 0.25 0.24 0.26 -0.01 -2.80 0.31 1.77 0.19 -3.13 5.97 0.52
NOPAT Less CapEx to Interest Expense		 0.19 0.15 0.19 -0.03 -2.85 0.24 1.75 0.14 -3.20 5.96 0.45
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 16.32% 19.32% 21.15% 25.51% 25.54% 23.98% 30.31% 26.15% 26.32% 40.18% 38.34%
Augmented Payout Ratio		 16.32% 19.32% 21.15% 25.51% 25.54% 23.98% 30.31% 26.15% 26.32% 64.62% 38.34%

Financials Breakdown Chart

Key Financial Trends

Hanover Bancorp’s latest quarter showed a sharp rebound in profitability, but the cash flow picture remains mixed. For Q1 2026, the company reported net income of $1.9 million, up from just $33 thousand in Q4 2025, and earnings also improved meaningfully versus Q1 2025. However, operating cash flow was still negative, and the balance sheet shows continued pressure from rising liabilities and a large debt-funded funding mix.

  • Profitability improved significantly in Q1 2026. Net income rose to $1.9 million from $33 thousand in Q4 2025 and $1.5 million in Q1 2025, showing a strong quarter-over-quarter recovery.
  • Pre-tax income also improved. Hanover generated $3.0 million of pre-tax income in Q1 2026, compared with only $136 thousand in Q4 2025.
  • Net interest margin pressure appears to have eased slightly. Net interest income increased to $16.4 million from $15.8 million in Q4 2025, helped by lower interest expense.
  • Credit costs were lower than the prior quarter. Provision for credit losses fell to $530 thousand from $6.1 million in Q4 2025, which was a major driver of better earnings.
  • Book equity was stable to slightly higher. Total common equity increased to $196.4 million from $196.0 million in Q4 2025, while total equity was $201.4 million.
  • Loan balances were broadly stable. Net loans and leases rose modestly to $1.97 billion from $1.97 billion in Q4 2025, indicating a relatively steady loan book.
  • Deposit balances declined in the quarter. Interest-bearing deposits fell by about $6.0 million in Q1 2026, which may suggest ongoing funding churn.
  • Dividend coverage remains modest but intact. Quarterly EPS was $0.25 and the cash dividend was $0.10 per share, leaving room for the payout, though not a huge cushion.
  • Non-interest income remained fairly consistent. Fee and service income was $2.7 million, close to the recent run rate.
  • Operating cash flow was negative. Hanover used $2.5 million of cash in operating activities in Q1 2026, versus positive operating cash flow in Q4 2025.
  • Financing activity was net negative due to debt repayment. The company repaid more debt than it issued, leading to $13.8 million of net cash used in financing activities.
  • Cash and equivalents fell sharply. Net change in cash and equivalents was negative $14.5 million in Q1 2026, which is a weaker liquidity trend for the quarter.
  • Interest expense remains heavy. Cash interest paid was $16.0 million, highlighting the continued cost of Hanover’s funding structure.
  • Asset quality expense is still elevated versus early 2024. The quarterly provision of $530 thousand is far below late-2025 levels, but still above the very low provision levels seen in early 2024.

Longer-term trend: Over the last four years of quarterly data, Hanover Bancorp has generally grown its loan portfolio and maintained profitability, but earnings have been volatile and sensitive to deposit costs, debt expense, and credit provisions. The recent quarter suggests stabilization after a weak Q4 2025, but the company still relies on a sizable debt and deposit base, and cash flow has not yet matched reported earnings.

Bottom line: Hanover Bancorp’s Q1 2026 results were a clear improvement on the income statement, but investors should watch operating cash flow, deposit trends, and funding costs closely. The company looks more profitable this quarter, yet liquidity and balance-sheet efficiency remain important watch items.

07/30/26 07:46 AM ETAI Generated. May Contain Errors.

Hanover Bancorp Financials - Frequently Asked Questions

According to the most recent income statement we have on file, Hanover Bancorp's financial year ends in December. Their financial year 2025 ended on December 31, 2025.

The last 5 years of Hanover Bancorp's net income performance:
  • 2021: $10.85 million
  • 2022: $23.56 million
  • 2023: $15.16 million
  • 2024: $12.35 million
  • 2025: $7.49 million
Find out what analysts predict for Hanover Bancorp in the coming months.

Over the last 5 years, Hanover Bancorp's total revenue changed from $28.49 million in 2020 to $73.32 million in 2025, a change of 157.4%.

Hanover Bancorp's total liabilities were at $2.18 billion at the end of 2025, a 3.2% increase from 2024, and a 182.2% increase since 2020.

In the past 5 years, Hanover Bancorp's cash and equivalents has ranged from $6.24 million in 2020 to $95.79 million in 2025, and is currently $95.79 million as of their latest financial filing in 2025.

Over the last 5 years, Hanover Bancorp's book value per share changed from 18.75 in 2020 to 27.14 in 2025, a change of 44.8%.


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Financial statements for NASDAQ:HNVR last updated on 7/9/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.
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Right now, your phone is recording exactly where you are. It does this roughly every two minutes. Precise coor...
Crypto 101 Media | Sponsoredtc pixel
Here’s Why Trump Won’t End The Iran War
Trump has called an Iran deal close 38 times since the war began, yet the fighting keeps flaring back up. O...
Banyan Hill Publishing | Sponsoredtc pixel
The invention Elon called the greatest in history
Jeff Brown and Marc Chaikin - two investors who called Nvidia a decade ago - say Elon Musk's newly filed AI pa...
Brownstone Research | Sponsoredtc pixel
This Quiet Metals Story Is Starting To Stack Up
A small North American mining company just hit 57-for-57 on exploration drilling—and that's only part of the s...
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SpaceX just minted 4,400 millionaires
SpaceX's $1.75 trillion IPO turned more than 4400 employees into millionaires, according to The New York Times...
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How to get a stake in Anthropic — before the IPO
Anthropic, the maker of Claude AI, has reportedly filed for an IPO that could arrive as early as October. Its ...
Weiss Ratings | Sponsoredtc pixel
The trade I’ve been waiting for since 2011
Ross Givens, Director of Research at Traders Agency, is calling for gold to reach $10,000 an ounce this superc...
Traders Agency | Sponsoredtc pixel