NASDAQ : HNVR
Hanover Bancorp, Inc. — Financial statements
Financials · Banks - Regional · United States
Last price 23.6 USD (Oct 29, 2026, 4:00 PM EDT) · Market cap 166.51M
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Financial statements
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2023 | FY2022 | |
|---|---|---|---|---|---|---|
| Interest Income on Loans | 119.37M | 119.69M | 122.97M | 103.97M | 97.56M | 67.00M |
| Interest Income on Investments | 10.79M | 10.79M | 10.05M | 9.65M | 7.48M | 1.42M |
| Total Interest Income | 130.16M | 130.48M | 133.02M | 113.63M | 105.04M | 68.43M |
| Interest Paid on Deposits | 58.00M | 63.84M | 72.52M | 54.32M | 43.85M | 5.38M |
| Interest Paid on Borrowings | 6.17M | 6.17M | 7.41M | 7.42M | 6.70M | 1.80M |
| Total Interest Expense | 64.17M | 70.00M | 79.93M | 61.74M | 50.55M | 7.17M |
| Net Interest Income | 65.99M | 60.48M | 53.09M | 51.89M | 54.49M | 61.25M |
| Gain (Loss) on Sale of Assets | 167.00K | 167.00K | ||||
| Gain (Loss) on Sale of Investments | 215.00K | 215.00K | 31.00K | 105.00K | ||
| Other Non-Interest Income | 4.81M | 4.37M | 3.90M | 4.55M | 3.50M | 3.39M |
| Total Non-Interest Income | 10.56M | 12.84M | 15.34M | 10.69M | 7.87M | 8.87M |
| Revenues Before Loan Losses | 76.55M | 73.32M | 68.43M | 62.58M | 62.37M | 70.13M |
| Provision for Loan Losses | 8.23M | 10.38M | 4.94M | 2.13M | 3.43M | 4.45M |
| Revenue | 68.32M | 62.94M | 63.49M | 60.45M | 58.93M | 65.68M |
| Salaries and Employee Benefits | 27.38M | 26.31M | 24.01M | 19.77M | 18.78M | 17.98M |
| Occupancy Expenses | 8.19M | 7.74M | 7.22M | 6.63M | 6.36M | 5.63M |
| Federal Deposit Insurance | 1.40M | 1.39M | 1.42M | 1.48M | 1.26M | 368.00K |
| Selling, General & Administrative | 6.49M | 6.47M | 6.76M | 7.04M | 6.97M | 5.88M |
| Other Non-Interest Expense | 5.03M | 7.89M | 7.70M | 7.20M | 6.36M | 5.07M |
| Total Non-Interest Expense | 48.49M | 49.80M | 47.11M | 42.12M | 39.72M | 34.93M |
| EBT Excluding Unusual Items | 19.83M | 13.13M | 16.38M | 18.33M | 19.21M | 30.75M |
| Legal Settlements | 975.00K | |||||
| Other Unusual Items | -3.18M | -3.18M | ||||
| Pretax Income | 14.31M | 9.95M | 16.38M | 18.33M | 20.19M | 30.50M |
| Income Tax Expense | 3.99M | 2.47M | 4.03M | 4.74M | 5.02M | 6.94M |
| Net Income | 10.32M | 7.49M | 12.35M | 13.59M | 15.16M | 23.56M |
| Preferred Dividends & Other Adjustments | 194.00K | 194.00K | 384.00K | 473.00K | 561.00K | 903.00K |
| Net Income to Common | 10.13M | 7.29M | 11.96M | 13.12M | 14.60M | 22.65M |
| Basic Shares Outstanding | 7.18M | 7.26M | 7.16M | 7.06M | 7.04M | 6.07M |
| Diluted Shares Outstanding | 7.18M | 7.26M | 7.19M | 7.13M | 7.12M | 6.16M |
| EPS (Basic) | 1.41 | 1.01 | 1.67 | 1.86 | 2.07 | 3.73 |
| EPS (Diluted) | 1.41 | 1.00 | 1.66 | 1.84 | 2.05 | 3.68 |
| Dividend Per Share | 0.40 | 0.40 | 0.40 | 0.40 | 0.10 | 0.20 |
| Effective Tax Rate | 27.88% | 24.77% | 24.62% | 25.85% | 24.88% | 22.75% |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2023 | FY2022 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 142.58M | 208.90M | 162.86M | 177.21M | 192.62M | 149.95M |
| Investment Securities | 138.22M | 67.12M | 71.61M | 61.22M | 10.75M | 12.04M |
| Trading Asset Securities | 1.64M | 445.00K | ||||
| Mortgage-Backed Securities | 865.00K | 33.45M | 15.91M | 4.24M | 4.25M | 4.66M |
| Total Investments | 139.08M | 100.57M | 89.15M | 65.46M | 15.44M | 16.70M |
| Gross Loans | 2.08B | 2.00B | 1.99B | 1.96B | 1.87B | 1.62B |
| Allowance for Loan Losses | -19.92M | -18.69M | -22.78M | -19.66M | -14.69M | -12.84M |
| Net Loans | 2.06B | 1.98B | 1.96B | 1.94B | 1.86B | 1.61B |
| Property, Plant & Equipment | 20.59M | 24.17M | 23.67M | 25.64M | 26.25M | 14.46M |
| Goodwill | 19.17M | 19.17M | 19.17M | 19.17M | 19.17M | 19.17M |
| Other Intangible Assets | 311.00K | 327.00K | 399.00K | |||
| Loans Held for Sale | 3.62M | 6.41M | 12.40M | 8.90M | ||
| Accrued Interest Receivable | 11.78M | 11.85M | 11.91M | 10.64M | 8.55M | |
| Long-Term Deferred Tax Assets | 2.46M | 1.51M | 2.51M | |||
| Other Real Estate Owned & Foreclosed | 650.00K | |||||
| Other Long-Term Assets | 52.05M | 21.60M | 22.38M | 12.84M | 13.16M | 11.36M |
| Total Assets | 2.44B | 2.38B | 2.31B | 2.27B | 2.15B | 1.84B |
| Interest Bearing Deposits | 1.86B | 1.78B | 1.74B | 1.70B | 1.55B | 1.22B |
| Institutional Deposits | 87.90M | |||||
| Non-Interest Bearing Deposits | 255.12M | 247.79M | 211.66M | 207.78M | 185.73M | 219.22M |
| Total Deposits | 2.11B | 2.03B | 1.95B | 1.90B | 1.74B | 1.53B |
| Short-Term Borrowings | 1.05M | 927.00K | 2.36M | 49.00M | 55.00M | |
| Current Portion of Long-Term Debt | 40.48M | 7.08M | 18.86M | 18.86M | 11.86M | |
| Current Portion of Leases | 2.57M | |||||
| Accrued Interest Payable | 1.74M | 1.53M | 1.72M | 1.82M | 915.00K | |
| Long-Term Debt | 34.27M | 24.74M | 24.69M | 26.92M | 28.80M | 33.52M |
| Federal Home Loan Bank Debt, Long-Term | 59.84M | 60.25M | 100.72M | 107.81M | 107.81M | 25.94M |
| Long-Term Leases | 7.32M | 8.00M | 9.03M | 10.46M | 10.90M | |
| Long-Term Deferred Tax Liabilities | 353.00K | |||||
| Other Long-Term Liabilities | 26.56M | 15.26M | 17.21M | 12.50M | 11.37M | 12.13M |
| Total Liabilities | 2.24B | 2.18B | 2.12B | 2.09B | 1.96B | 1.67B |
| Preferred Stock, Non-Redeemable | 5.04M | 5.04M | 2.96M | 2.96M | ||
| Total Preferred Equity | 5.04M | 5.04M | 2.96M | 2.96M | ||
| Common Stock | 202.91M | 71.00K | 72.00K | 72.00K | 72.00K | 73.00K |
| Retained Earnings | 72.40M | 67.92M | 58.55M | 58.69M | 46.48M | |
| Comprehensive Income & Other | 122.75M | 123.60M | 123.24M | 124.18M | 126.04M | |
| Total Common Equity | 202.91M | 195.22M | 191.60M | 181.87M | 182.94M | 172.58M |
| Shareholders' Equity | 202.91M | 200.27M | 196.64M | 184.83M | 185.91M | 172.58M |
| Total Liabilities & Equity | 2.44B | 2.38B | 2.31B | 2.27B | 2.15B | 1.84B |
| Total Debt | 101.43M | 137.09M | 142.45M | 166.41M | 215.37M | 126.32M |
| Net Cash (Debt) | 41.15M | 71.82M | 22.05M | 10.80M | -22.30M | 23.63M |
| Net Cash Per Share | 5.73 | 9.89 | 3.07 | 1.51 | -3.13 | 3.84 |
| Filing Date Shares Outstanding | 7.29M | 7.17M | 7.20M | 7.23M | 7.33M | 7.15M |
| Total Common Shares Outstanding | 7.29M | 7.14M | 7.15M | 7.20M | 7.17M | 7.29M |
| Book Value Per Share | 27.83 | 27.36 | 26.79 | 25.28 | 25.51 | 23.69 |
| Tangible Book Value | 183.75M | 176.06M | 172.43M | 162.39M | 163.45M | 153.02M |
| Tangible Book Value Per Share | 25.20 | 24.67 | 24.11 | 22.57 | 22.79 | 21.00 |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2023 | FY2022 | |
|---|---|---|---|---|---|---|
| Net Income | 7.49M | 12.35M | 13.59M | 15.16M | 23.56M | |
| Depreciation & Amortization | 4.15M | 3.87M | 3.64M | 3.49M | 1.74M | |
| Other Amortization | 54.00K | 54.00K | 54.00K | 53.00K | 55.00K | |
| Gain (Loss) on Sale of Assets | -167.00K | |||||
| Gain (Loss) on Sale of Investments | 1.60M | 975.00K | -496.00K | -748.00K | -3.67M | |
| Provision for Credit Losses | 10.38M | 4.94M | 2.13M | 3.43M | 4.45M | |
| Accrued Interest Receivable | 69.00K | 66.00K | -2.38M | -2.09M | 817.00K | |
| Change in Other Net Operating Assets | -5.20M | -8.21M | -1.47M | -3.55M | 155.00K | |
| Other Operating Activities | 3.07M | 1.40M | 2.54M | 1.96M | 1.81M | |
| Operating Cash Flow | 13.05M | 5.44M | 14.44M | 16.40M | 25.08M | |
| Capital Expenditures | -869.00K | -1.29M | -2.92M | -3.41M | -1.12M | |
| Sale of Property, Plant and Equipment | 300.00K | |||||
| Investment in Securities | -11.49M | -21.38M | -50.16M | 352.00K | -1.37M | |
| Net Decrease (Increase) in Loans Originated / Sold - Investing | -15.98M | -23.41M | -214.87M | -249.04M | -369.09M | |
| Other Investing Activities | 93.00K | 727.00K | 3.59M | -4.27M | -2.57M | |
| Investing Cash Flow | -27.95M | -45.36M | -264.36M | -256.36M | -374.15M | |
| Short-Term Debt Issued | 55.00M | |||||
| Long-Term Debt Issued | 20.00M | 100.72M | ||||
| Total Debt Issued | 20.00M | 100.72M | 100.72M | 55.00M | ||
| Short-Term Debt Repaid | -6.00M | |||||
| Long-Term Debt Repaid | -7.08M | -41.15M | -16.57M | -112.71M | ||
| Total Debt Repaid | -7.08M | -41.15M | -210.03M | -22.57M | -112.71M | |
| Net Debt Issued (Repaid) | -7.08M | -21.15M | -109.31M | 78.16M | -57.71M | |
| Issuance of Common Stock | 168.00K | 106.00K | 27.73M | |||
| Repurchase of Common Stock | -2.61M | -198.00K | -499.00K | -170.00K | -28.00K | |
| Common Dividends Paid | -3.01M | -2.96M | -2.93M | -2.93M | -2.04M | |
| Net Increase (Decrease) in Deposit Accounts | 74.11M | 49.94M | 387.39M | 207.47M | 364.52M | |
| Other Financing Activities | -468.00K | -68.00K | ||||
| Financing Cash Flow | 60.94M | 25.57M | 274.83M | 282.64M | 332.47M | |
| Net Cash Flow | 46.05M | -14.35M | 24.91M | 42.68M | -16.60M | |
| Free Cash Flow | 12.18M | 4.15M | 11.52M | 12.99M | 23.96M | |
| Free Cash Flow Margin | 19.36% | 6.53% | 19.06% | 22.05% | 36.48% | |
| Free Cash Flow Per Share | 1.68 | 0.58 | 1.61 | 1.82 | 3.89 | |
| Cash Interest Paid | 69.79M | 80.12M | 60.86M | 49.65M | 7.55M | |
| Cash Income Tax Paid | 2.58M | 4.03M | 4.51M | 4.40M | 6.47M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2023 | FY2022 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 165.31M | 166.22M | 164.90M | 129.37M | 129.96M | 139.45M |
| Last Close Price | 23.34 | 22.83 | 22.37 | 16.74 | 17.07 | 17.66 |
| PE Ratio | 16.65 | 22.79 | 13.79 | 9.86 | 8.90 | 6.16 |
| PS Ratio | 2.45 | 2.64 | 2.60 | 2.14 | 2.21 | 2.12 |
| PB Ratio | 0.84 | 0.83 | 0.84 | 0.70 | 0.70 | 0.81 |
| P/FCF Ratio | 6.50 | 13.64 | 39.76 | 11.23 | 10.00 | 5.82 |
| P/OCF Ratio | 6.21 | 12.74 | 30.31 | 8.96 | 7.92 | 5.56 |
| Debt / Equity Ratio | 0.50 | 0.69 | 0.72 | 0.90 | 1.16 | 0.73 |
| Debt / FCF Ratio | 11.25 | 34.34 | 14.45 | 16.57 | 5.27 | |
| Net Debt / Equity Ratio | -0.20 | -0.36 | -0.11 | -0.06 | 0.12 | -0.14 |
| Net Debt / FCF Ratio | -5.89 | -5.32 | -0.94 | 1.72 | -0.99 | |
| Return on Equity (ROE) | 5.10% | 3.77% | 6.47% | 8.46% | 15.96% | |
| Return on Assets (ROA) | 0.43% | 0.32% | 0.54% | 0.76% | 1.42% | |
| Earnings Yield | 6.00% | 4.50% | 7.49% | 10.50% | 11.67% | 16.89% |
| FCF Yield | 15.39% | 7.33% | 2.51% | 8.91% | 10.00% | 17.18% |
| Dividend Yield | 1.73% | 1.72% | 1.74% | 2.23% | 0.55% | 1.04% |
| Payout Ratio | 28.43% | 40.18% | 23.97% | 21.57% | 19.31% | 8.67% |
| Buyback Yield / Dilution | 1.11% | -1.05% | -0.73% | -0.20% | -15.64% | -32.01% |
| Total Shareholder Return | 2.79% | 0.66% | 1.00% | 2.03% | -15.08% | -30.96% |