HNVR

EX-99.1

2 hnvr-ex99d1.htm

EX-99.1

Exhibit 99.1

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FOR IMMEDIATE RELEASE

Investor and Press Contact:

Lance P. Burke

Chief Financial Officer

(516) 548-8500

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Hanover Bancorp, Inc. Reports Third Quarter 2026

Results Highlighted by Increased Net Interest

Income and Strong Loan Growth

Declares $0.10 Quarterly Cash Dividend

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Third Quarter Performance Highlights

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●Net Income: Net income for the quarter ended September 30, 2026 totaled $4.3 million or $0.60 per diluted share (including Series A preferred shares), versus $4.1 million or $0.55 per diluted share (including Series A preferred shares) in the quarter ended June 30, 2026 and $3.5 million or $0.47 per diluted share (including Series A preferred shares) in the quarter ended September 30, 2025.

●Pre-Provision Net Revenue: Pre-provision net revenue (non-GAAP) was $6.9 million or 1.18% of average assets for the quarter ended September 30, 2026, which was the highest level since the fourth quarter of 2022, versus $5.9 million or 1.06% of average assets in the prior linked quarter and $6.0 million or 1.05% of average assets in the third quarter of 2025.

●Balance Sheet Growth:  Total assets were $2.4 billion at September 30, 2026, up $105.2 million, or 4.50%, from June 30, 2026 and up $58.7 million, or 2.46% from December 31, 2025 due to strong loan growth.

●Strong Loan Growth: Total loans outstanding were $2.1 billion at September 30, 2026, up $86.8 million, or 4.34%, from June 30, 2026 and up $83.9 million, or 4.19% from December 31, 2025, primarily driven by growth in niche-residential and relationship CRE and C&I lending.  Loan production for the three months ended September 30, 2026 was $178.7 million, up 69.70% from the linked quarter.

●Net Interest Income: Net interest income was $17.0 million for the quarter ended September 30, 2026, an increase of $0.3 million, or 1.52% from the quarter ended June 30, 2026 and $1.8 million, or 11.84%, from the quarter ended September 30, 2025, representing a record level.

●Improved Profitability Metrics: Returns on average assets and average tangible equity increased to 0.75% and 9.32%, respectively, for the quarter ended September 30, 2026 from 0.73% and 8.85%, respectively, for the quarter ended June 30, 2026 and 0.61% and 7.63%, respectively, for the quarter ended September 30, 2025.  Efficiency ratio improved to 64.3% for the quarter ended September 30, 2026, versus 69.8% from the quarter ended June 30, 2026 and  66.7% from the quarter ended September 30, 2025.  The efficiency ratio improvement on a linked quarter basis is primarily related to a $1.3 million, or 9.18% decrease in non-interest expense, and from the quarter ended September 30, 2025, a $1.8 million or 11.84% increase in net interest income.

●Demand Deposits: Demand deposits increased $7.3 million or 2.96% to a record $255.1 million at September 30, 2026 from December 31, 2025, driven by the success of our C&I banking relationships and an increase in municipal operating accounts.

●Book Value Per Share: Book value per share (including Series A preferred shares) was $27.95 at September 30, 2026 compared to $27.66 at June 30, 2026 and $27.02 at December 31, 2025.  Tangible book value per share was $25.29 at September 30, 2026 compared to $25.02 at June 30, 2026 and $24.41 at December 31, 2025.  Exclusive of Accumulated Other Comprehensive Loss, book value per share and tangible book value per share would have increased by $0.32 and $0.31, respectively, at September 30, 2026.  Tangible common equity to tangible assets (“TCE ratio”) was 7.58% at September 30, 2026 compared to 7.91% at June 30, 2026 and 7.65% at December 31, 2025.  The decrease in TCE ratio over the linked quarter is primarily related to a $1.8 million increase in after tax net unrealized loss on the investment portfolio and $2.2 million in common stock repurchases.

●Quarterly Cash Dividend: The Company’s Board of Directors approved a $0.10 per share cash dividend on both common shares and Series A preferred shares payable on November 18, 2026 to stockholders of record on November 11, 2026.

●Business Banking Center Update: Our newest de novo branches in Hauppauge and Port Jefferson continue to demonstrate robust growth.  As of September 30, 2026, the Hauppauge branch achieved $149.1 million in deposits with a 1.64% cost of funds, while the Port Jefferson location reached $52.1 million in deposits with a 1.85% cost of funds.  Building on this momentum, our new full-service branch in downtown Riverhead, New York officially opened on September 30, 2026.  This strategic expansion enables us to better serve the East End of Long Island with our complete suite of financial and banking services.

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Mineola, NY – October 28, 2026 – Hanover Bancorp, Inc. (“Hanover” or “the Company” – NASDAQ: HNVR), the holding company for Hanover Community Bank (“the Bank”), today reported results for the quarter ended September 30, 2026 and the declaration of a $0.10 per share cash divi

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