Hanover Bancorp, Inc. (HNVR) furnished an investor presentation to various investors, with the slides provided as Exhibit 99.1. The disclosure is made under Regulation FD as an information-only update and is expressly described as being furnished, not filed, under the Securities Exchange Act.
The company states that this information will not be incorporated by reference into any Securities Act registration statement unless specifically identified, and notes that the furnished material is not intended to represent that it is material, complete, or that investors should rely on it for investment decisions.
Hanover Bancorp, Inc. /MD (symbol: HNVR) is the issuer of record for a Form 4 filing submitted to the SEC. O'Connor Kevin M reported acquisition or exercise transactions in this Form 4 filing.
Hanover Bancorp, Inc. (HNVR) reported that President Kevin M. O'Connor received a grant of 10,000 shares of common stock on September 1, 2026. The award is in the form of restricted stock subject to forfeiture and vests in five equal installments each September 1 from 2027 through 2031. Following this grant, O'Connor directly holds 22,300 shares of Hanover Bancorp common stock. No Rule 10b5-1 trading plan is reported for this transaction.
Hanover Bancorp, Inc. (HNVR) announced that its Board of Directors approved a new Share Repurchase Program. The program allows the company to repurchase up to 370,000 shares of common stock, described as approximately 5% of outstanding shares, and will expire on August 17, 2027.
The new authorization will begin after the current repurchase program, approved on October 5, 2023, is fully utilized. Repurchases may be made in the open market or through privately negotiated transactions, and may be conducted under a Rule 10b5-1 trading plan. Management has full discretion over timing, volume, and pricing, subject to factors such as stock price, market conditions, SEC Rule 10b-18, and the company’s capital and liquidity needs. The program does not obligate Hanover Bancorp to repurchase any specific number of shares and can be suspended, modified, or terminated by the Board at any time.
Hanover Bancorp, Inc. received an amended Schedule 13G (Amendment No. 2) from a group of investment entities led by Fourthstone LLC, a registered investment adviser. Fourthstone reports beneficial ownership of 144,216 shares of Hanover Bancorp common stock on behalf of advisory clients, representing 2.02% of the class based on 7,156,661 shares outstanding as of April 30, 2026.
The filing lists related entities, including Fourthstone Master Opportunity Fund Ltd., Fourthstone QP Opportunity Fund LP, Fourthstone Small-Cap Financials Fund LP, Fourthstone GP LLC, and L. Phillip Stone IV, all as reporting persons with shared voting and dispositive power over these shares. The group states the securities were acquired in the ordinary course of business and not for the purpose of changing or influencing control of Hanover Bancorp, and confirms ownership of 5 percent or less of the outstanding common stock.
Hanover Bancorp, Inc., the holding company for Hanover Community Bank, reported improved profitability for the quarter ended June 30, 2026. Net income for the quarter was $4,064 thousand, up from $2,443 thousand a year earlier, and basic and diluted EPS rose to $0.55 from $0.33. For the first six months of 2026, net income was $5,938 thousand versus $3,964 thousand in 2025, with EPS of $0.80 versus $0.53, supported by higher net interest income and a lower provision for credit losses.
Total assets were $2,336,630 thousand, including net loans of $1,978,754 thousand and securities available for sale of $135,043 thousand. Deposits totaled $2,012,839 thousand, and stockholders’ equity increased to $202,747 thousand. The allowance for credit losses on loans rose slightly to $19,139 thousand, while loans on nonaccrual status increased to $28,340 thousand from $21,604 thousand at December 31, 2025. Results for the first half also include a Board-approved severance payment of approximately $2.15 million to the former President as part of a management restructuring initiative.
Hanover Bancorp, Inc. /MD President Kevin M. O'Connor purchased 10,000 shares of Common Stock on July 30, 2026 at $26.88 per share in an open-market or private transaction. Following this buy, he directly owns 12,300 shares. The Rule 10b5-1 plan checkbox was not selected.
Hanover Bancorp, Inc. reported initial insider holdings for President Kevin M. O'Connor in a Form 3. He directly owns 2300.0000 shares of the company's Common Stock. The filing lists this ownership position only and does not report any purchase or sale transactions.
Hanover Bancorp, Inc. reported improved results for the quarter and six months ended June 30, 2026. Quarterly net income was $4.1 million, or $0.55 per diluted share, and adjusted net income was $4.3 million, or $0.58 per diluted share. For the six‑month period, net income was $5.9 million ($0.80 per diluted share) and adjusted net income was $8.3 million ($1.11 per diluted share).
Performance was driven mainly by higher net interest income and lower provision for credit losses. Net interest income rose to $16.8 million, with net interest margin expanding to 3.10%, as the cost of interest‑bearing liabilities fell to 3.46%. Non‑interest income declined, reflecting lower gains on loan sales, and expenses included $240 thousand of debt extinguishment costs and severance.
Total assets were $2.34 billion and deposits $2.01 billion at June 30, 2026, with a loan‑to‑deposit ratio of 99%. Stockholders’ equity was $202.7 million, and tangible book value per share increased to $25.02. Non‑performing loans were $28.3 million, or 1.42% of total loans, with an allowance for credit losses of $19.1 million, or 0.96% of total loans. The company declared a $0.10 per share cash dividend on common and Series A preferred shares.
Hanover Bancorp, Inc. appointed Kevin O’Connor as President of both the company and Hanover Community Bank, effective July 27, 2026. He will lead expansion and regional growth across the Long Island market, focusing on strengthening client relationships and new business opportunities.
O’Connor brings more than 35 years of banking experience, including leadership roles at Valley Bank, Dime Community Bank and Bridgehampton National Bank. His compensation includes an annual base salary aligned with other senior executives, eligibility for short- and long-term incentive plans, and an initial 10,000-share restricted stock award vesting over five years.