Hanover Bancorp, Inc. Reports Earnings Results for the Fourth Quarter and Full Year Ended September 30, 2022
October 26, 2022 at 08:37 am EDT
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Hanover Bancorp, Inc. reported earnings results for the fourth quarter and full year ended September 30, 2022. For the fourth quarter, the company reported net interest income was USD 16.42 million compared to USD 16.13 million a year ago. Net income was USD 5.82 million compared to USD 7.06 million a year ago. Basic earnings per share from continuing operations was USD 0.8 compared to USD 1.27 a year ago. Diluted earnings per share from continuing operations was USD 0.79 compared to USD 1.25 a year ago.
For the full year, net interest income was USD 61.25 million compared to USD 41.71 million a year ago. Net income was USD 23.56 million compared to USD 10.85 million a year ago. Basic earnings per share from continuing operations was USD 3.74 compared to USD 2.32 a year ago. Diluted earnings per share from continuing operations was USD 3.68 compared to USD 2.28 a year ago.
Hanover Bancorp, Inc. is a one-bank holding company for its subsidiary, Hanover Community Bank (the Bank). The Bank is a community commercial bank, which offers a full range of financial services. The Bank provides a complete suite of consumer, commercial and municipal banking products and services, including multi-family and commercial mortgages, residential loans, business loans and lines of credit. It also offers its customers access to 24-hour automated teller machine service with free checking with interest, telephone banking, advanced technologies in mobile and internet banking for its consumer and business customers, safe deposit boxes and other. The Bank operates eight branch locations serving Long Island, the greater New York metropolitan area and Freehold, New Jersey. It operates a full-service branch office along with additional branch locations in Garden City Park, Forest Hills, Flushing, Sunset Park, Rockefeller Center and Chinatown, New York, and Freehold, New Jersey.