Hanover Bancorp, Inc. Reports Third Quarter 2026 Results Highlighted by Increased Net Interest Income and Strong Loan Growth; Declares $0.10 Quarterly Cash Dividend
Hanover Bancorp reported Q3 2026 net income of $4.3 million, or $0.60 per diluted share, up from $3.5 million ($0.47) a year earlier, driven by record net interest income of $17.0 million, up 11.84% YoY. Loan growth was strong: total loans rose 4.34% linked quarter to $2.08 billion on $178.7 million of production (up 69.7% QoQ), while the board declared a $0.10 quarterly dividend and the company continued its buyback ($4.8 million repurchased in nine months). Profitability improved markedly — NIM expanded to 3.02% from 2.74% YoY and the efficiency ratio improved to 64.3% — though NIM slipped from 3.10% in Q2 on higher deposit costs.
Key figures
- Eps
- 0.6
- Revenue
- $17.0 million net interest income for Q3 2026 (record level)
- Revenue Yoy
- 11.84% (net interest income)
- Ppnr
- $6.9 million (highest since Q4 2022)
- Npl ratio
- 1.40% vs 1.08% at Dec 31, 2025
- Tce ratio
- 7.58%
- Total loans
- $2.08 billion, up 4.34% linked quarter
- Total assets
- $2.44 billion
- Net income q3
- $4.3 million
- Total deposits
- $2.11 billion
- Demand deposits
- $255.1 million (record)
- Efficiency ratio
- 64.3% vs 69.8% linked quarter
- Dividend per share
- $0.10
- Loan production q3
- $178.7 million, up 69.70% linked quarter
- Book value per share
- $27.95
- Net income nine months
- $10.3 million ($1.40 diluted EPS)
- Net interest margin q3
- 3.02% vs 2.74% prior-year quarter (3.10% linked quarter)
- Cre concentration ratio
- 358%
- Net income prior year q3
- $3.5 million
- Allowance for credit losses
- $19.9 million (0.96% of loans)
- Tangible book value per share
- $25.29
- Adjusted net income nine months
- $12.6 million ($1.71 diluted EPS, non-GAAP)
AI analysis
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