Hanover Bancorp FY26 Q2 net income rises 66.35% to $4.06 million; revenue climbs 6.6% to $19.57 million - HNVR News | RalliesHanover Bancorp FY26 Q2 net income rises 66.35% to $4.06 million; revenue climbs 6.6% to $19.57 million
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HNVR• Asset quality and financing actions
- Non-accrual loans climbed to $28.34 million, or 1.42% of total loans, from $21.6 million, or 1.08%, at Dec. 31, 2025.
- The bank issued $35 million of 10-year fixed-to-floating rate subordinated notes, redeeming $25 million of 8.54% floating rate notes.
Quarterly results and margin expansion
- Hanover Bancorp posted Q2 net income of $4.06 million, up 66.36%, with diluted EPS of $0.55, up 66.67%.
- Revenue rose 6.6% to $19.57 million, while net interest margin widened 34 basis points to 3.10%.
- Provision for credit losses fell 78.78% to $500,000, while non-interest expense increased 8.18% to $13.65 million.
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