Business
Hanover Bank to Open Suffolk County, Long Island Location
MINEOLA, N.Y., July 25, 2022 (GLOBE NEWSWIRE) -- Hanover Bancorp, Inc. (Nasdaq: HNVR) (the "Company"), parent company of Hanover Community Bank (the “Bank”),
About this update from Hanover Bancorp, Inc.
[{"type":"text","content":"MINEOLA, N.Y., July 25, 2022 (GLOBE NEWSWIRE) -- Hanover Bancorp, Inc. (Nasdaq: HNVR) (the \"Company\"), parent company of Hanover Community Bank (the “Bank”), announced today that it is once again expanding the Company’s geographic footprint with the opening of an office at 410 Motor Parkway, Hauppauge, New York. Earlier this year Hanover Bank opened an office in Freehold, New Jersey, answering the demand for lending and commercial banking products, including Small Business Administration (“SBA”) financing, for small and medium sized businesses in the attractive Central New Jersey market. In the Hauppauge office, like in the Freehold office, Hanover will build its lending and support teams with local banking talent. The Bank has also received all the necessary regulatory approvals to open a full-service, high-tech branch at this location. The Bank expects this site to be fully operational by year-end 2022. Moving eastward on Long Island strategically supports the growth of Hanover’s commercial, municipal, and retail banking verticals. It also will assist in scaling up many of the Company’s other business lines, while simultaneously creating new opportunities for growth, profitability, and development. “This move east will support the vibrant businesses and residents of the Suffolk County area and has long been a part of our strategic expansion plans,” said Michael P. Puorro, Chairman & Chief Executive Officer. “Logistically, this location allows us to further service the Long Island business community with commercial, municipal, and retail banking products. This area is particularly void of institutional banking choices due to the ongoing, robust consolidation activity within our industry.” Hanover Community Bank is a premier financial institution prioritizing its clients’ needs before all else. As a part of “The Bank of YOU®,” this office will offer a full range of business and personal banking solutions, both online and in person to address clients banking preferences. With a focus on the banking needs of small to medium sized businesses, Hanover Bank is confident in its ability to serve the area and improve its share of wallet in this region. “Similar to our Freehold, New Jersey, office, the Hauppauge location will focus on commercial lending and banking products, paving the way for businesses seeking retail banking and comm...