Hanover Bancorp’s operations underwent strategic Credit cleanup in the fourth quarter of 2025 and wholesale funding restructuring in the first quarter of 2026, while total Assets stood at $2.3B at June 30, 2026. The presentation identifies potential effects on operations and says reputation risk could affect Business generation, retention, funding and liquidity.

Key Highlights

  • A business-loan pipeline of $48 million and approximately $168 million in deposits were reported across two banking locations.
  • The tangible common equity-to-tangible assets ratio was 7.91% on June 30, 2026.
  • Total assets were $2.3 billion, while gross loans and deposits were $2.0 billion each at June 30, 2026.

Hanover Bancorp, Inc. (NASDAQ: HNVR) stated that it implemented a strategic credit cleanup in the fourth quarter of 2025 and a wholesale funding restructuring in the first quarter of 2026. The bank Holding Company reported $2.3B in total assets at June 30, 2026. Its Balance Sheet also showed $2.0B in total loans and $2.0B in total deposits. The presentation lists the impact of the strategic credit cleanup and wholesale funding restructuring among factors that could affect future results, financial condition and liquidity. It also says reputation risk created by those developments could have a significant effect on business generation and retention, funding and liquidity.

Balance Sheet Shows $2.3B

Book value per share was $27.66, while tangible Book Value per share was $25.02. The presentation identifies both as measures in its financial snapshot.

Loan Pipeline Reaches $48M

The company’s Hauppauge Business Banking Center opened on May 22, 2023, and its Port Jefferson Branch opened on June 25, 2025. Hanover Bancorp said $21.5 million in second-quarter 2026 originations were tied to those two locations. The business-loan pipeline across both locations was $48 million as of June 30, 2026, with approximately $168 million in deposits. The presentation defines business loans as conventional commercial and industrial loans and owner-occupied Commercial Real Estate loans. Hanover Bancorp also identified a planned Riverhead Branch opening in September 2026.

Funding And Liquidity Risks

It specifically identifies the impact of the strategic credit cleanup and wholesale funding restructuring as a risk factor. The presentation says reputation risk arising from the developments could affect business generation and retention, funding and liquidity. Hanover Bancorp also states that forward-looking statements are subject to known and unknown risks and that actual results, financial condition and liquidity may differ materially from forward-looking statements.