Hanover Bancorp (HNVR) investor relations material

Executive summary

• Net income for Q2 2026 was $4.1 million ($0.55 per diluted share), up from $1.9 million in Q1 2026 and $2.4 million in Q2 2025; adjusted net income was $4.3 million ($0.58 per diluted share).

• Net interest income reached a record $16.8 million, up 2.5% sequentially and 13.36% year-over-year, driven by margin expansion.

• Demand deposits hit a record $254.3 million, increasing 7.13% from Q1 2026.

• A $0.10 per share quarterly cash dividend was declared, and 112,346 shares were repurchased during the quarter.

• Kevin O'Connor was appointed President, effective July 27, 2026.

Financial highlights

• Net interest margin expanded to 3.10% from 2.96% in Q1 2026 and 2.76% in Q2 2025.

• Return on average assets rose to 0.73% (adjusted: 0.77%), and return on average tangible equity to 8.85% (adjusted: 9.30%) for Q2 2026.

• For the six months ended June 30, 2026, net income was $5.9 million ($0.80 per diluted share), up from $4.0 million ($0.53 per share) in the prior year period; adjusted net income was $8.3 million ($1.11 per share).

• Total assets were $2.34 billion at June 30, 2026; total deposits were $2.01 billion, with a loan-to-deposit ratio of 99%.

Outlook and guidance

• Management expects continued margin expansion and profitability improvements, supported by disciplined operations and market opportunities.

• The new Riverhead branch is on track to open in Q3 2026, supporting regional growth.