Hanover Bancorp Q1 FY26 net income rises 23.2% to $1.9 million; net interest margin widens to 2.96%

• Hanover Bancorp posted Q1 net income of $1.9 million, up 23.2%, with diluted EPS of $0.25.
• Net interest income rose 11.85% to $16.4 million, lifting net interest margin by 28 basis points to 2.96%.
• Non-performing loans widened to $24.5 million, pushing non-performing loans to 1.23% of total loans.
• Capital actions included a $35 million 7.25% fixed-to-floating subordinated notes issuance due 2036, with proceeds used to redeem 8.54% floating-rate subordinated notes on April 15, 2026.
• Strategic updates featured a restructuring of $60.3 million of FHLB advances that cut weighted average borrowing cost to 3.47%, while regulatory authorization was received for a new full-service Riverhead, New York branch.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Hanover Bancorp Inc. published the original content used to generate this news brief via GlobeNewswire (Ref. ID: 202604271600PRIMZONEFULLFEED9707793) on April 27, 2026, and is solely responsible for the information contained therein.