Hanover Bancorp, Inc. /MD (HNVR) Form 8-K — Oct 28, 2026
Hanover Bancorp (NASDAQ: HNVR) 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 and a net interest margin that expanded to 3.02% from 2.74%. The quarter was the bank's best on pre-provision net revenue since Q4 2022 at $6.9 million, with total assets crossing $2.4 billion on 4.34% linked-quarter loan growth and loan production up nearly 70% to $178.7 million. The Board also declared a $0.10 per share quarterly dividend payable November 18, 2026.
Key figures
- Eps
- 0.6
- Revenue
- 17026000
- Guidance
- No formal guidance; management expects further cost-of-funds increases to be mitigated by higher-yielding loan production and rate resets.
- Net Income
- 4349000
- Total Debt
- 59840000
- Revenue Yoy
- 11.84% (net interest income, Q3 YoY)
- Total Assets
- 2441817000
- Cash Position
- 142579000
- Shares Outstanding
- 7259409
- Total loans
- $2.1 billion, up 4.34% linked quarter
- Total deposits
- $2.11 billion
- Demand deposits
- $255.1 million (record)
- Loan production
- $178.7 million, up 69.70% from linked quarter
- Efficiency ratio
- 64.3% vs 69.8% prior quarter
- Quarterly dividend
- $0.10 per share on common and Series A preferred, payable Nov 18, 2026
- Net interest margin
- 3.02% Q3 2026 vs 2.74% Q3 2025
- Book value per share
- $27.95
- Non performing loans
- $29.1 million (1.40% of loans) vs $21.6 million at 12/31/25
- Nine month net income
- $10.3 million ($1.40 diluted EPS)
- Cre concentration ratio
- 358% of capital
- Allowance for credit losses
- $19.9 million (0.96% of loans)
- Provision for credit losses
- $1.1 million
- Share repurchases nine months
- 192,718 shares for $4.8 million
- Tangible book value per share
- $25.29
- Adjusted nine month net income
- $12.6 million ($1.71 diluted EPS)
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