Hanover Bancorp, Inc. · NASDAQ:HNVR
Hanover Bancorp — Investor Presentation (November 2026)
28 slides from Hanover Bancorp's investor presentation, Nov 5, 2026
Slide 1: Investor Presentation November 2026
Confidential Investor Presentation 1 INVESTOR PRESENTATION November 2026
Slide 2: Disclaimer
2 Draft 09.13.17 2 Disclaimer (1) The acquisition is subject to applicable regulatory approvals, approval of the Minden shareholders and other customary closing conditions. The private placement is not conditional on the closing of the acquisition. This presentation has been prepared by us solely fo
Slide 3: Overview of Hanover Bancorp, Inc.
3 148, 201, 61 20, 49, 89 Overview of Hanover Bancorp, Inc. • Hanover Bancorp, Inc. (the “Company”) is the bank holding company of Hanover Community Bank (the “Bank”) • The Bank was founded in 2009 and is headquartered in Mineola, NY • The Bank was recapitalized in 2012 by a group led by our current
Slide 4: Investment Highlights
4 148, 201, 61 20, 49, 89 Investment Highlights • Recent market consolidation has resulted in a lack of sub-$5 billion asset sized banks in the Long Island and Greater New York City Metro Area. • Since June 2020, there have been 25 bank merger transactions in the tri-state area, 18 of which involved
Slide 5: Corporate Timeline and Growth in Total Assets
5 148, 201, 61 20, 49, 89 $541 $652 $862 $877 $1,458 $1,984 $2,270 $2,312 $2,383 $2,442 Corporate Timeline Growth in Total Assets ($mm) Note: Hanover previously had a fiscal year end of September 30th. 2017 - 2025 is for the period ended December 31st for each respective year. ✓ In February 2022, we
Slide 6: Hanover Executive Management Team
Confidential Investor Presentation 6 Note: Throughout the presentation, unless otherwise specified, references to “Hanover” may be to either the holding company or the bank. Hanover Executive Management Team Name Position with Hanover Years of Banking Experience Year Started at Hanover Michael P. Pu
Slide 7: Business Strategy
Confidential Investor Presentation 7 Business Strategy Creating a Differentiated Community Bank Focus on Delivering Shareholder Value Organic Growth • Build the premier community bank franchise serving customers and small to mid-size businesses in the New York City metro area and on Long Island • Co
Slide 8: Subordinated Debt Issuance
Confidential Investor Presentation 8 March 2026 $35M Holding Company Subordinated Debt Issuance • Successful completion of $35M Holding Company Subordinated Debt issuance on 3/12/26 • Fixed coupon of 7.25% for first 5 years then floating rate for last 5 years (3m SOFR + 386bps) • 10 Year final matur
Slide 9: Strong and Efficient Profitability
Confidential Investor Presentation 9 6.11% 6.11% 6.04% 6.01% 5.94% 5.99% 6.00% 5.97% 3.77% 3.54% 3.43% 3.40% 3.12% 2.97% 2.94% 2.99% 2.53% 2.68% 2.76% 2.74% 2.84% 2.96% 3.10% 3.02% Dec-24 Mar-25 Jun-25 Sep-25 Dec-25 Mar-26 Jun-26 Sep-26 Yield on Loans Cost of Deposits NIM Strong and Efficient Profit
Slide 10: TBV Per Share & Balance Sheet Growth
Confidential Investor Presentation 10 $1,177 $1,518 $1,905 $1,954 $2,028 $2,111 $1,458 $1,984 $2,270 $2,312 $2,383 $2,442 $1,277 $1,747 $1,957 $1,986 $2,001 $2,085 $23.26 $24.34 $25.16 $26.48 $27.02 $27.95 $19.73 $21.66 $22.51 $23.86 $24.41 $25.29 Book Value Per Share Tangible Book Value per Share T
Slide 11: Diversified Loan Portfolio with Historical Growth
11 148, 201, 61 20, 49, 89 1-4 Family 38.7% Multifamily 27.5% CRE 25.5% C&D 0.5% C&I 7.8% Consumer 0.0% 359 591 573 551 541 573 437 577 715 729 777 806 1,277 1,747 1,957 1,986 2,001 2,085 Dec-21 Dec-22 Dec-23 Dec-24 Dec-25 Sep-26 Multifamily 1-4 Family Total Loan Growth (ex HFS) ($mm) Loan Yield Tre
Slide 12: Niche Lending & Branch-Lite Model Drives Profitability
Confidential Investor Presentation 12 Niche Lending & Branch-Lite Model Drives Profitability Niche Lending & Funding Expertise Drives Pricing Power Efficient, Profitable and Scalable Business Model Yield on Loans ✓ A number of our business segments are focused on providing specialized lending and de
Slide 13: Niche Lending Segments: Niche-Residential and C&I
13 148, 201, 61 20, 49, 89 • For the quarter ended September 30, 2026, Hanover’s HFI loan portfolio increased to $2.1 billion, from $2.0 billion at December 31, 2025. • Hanover's loan pipeline at September 30, 2026 is approximately $221.1 million. – Commercial real estate (CRE) concentration ratio d
Slide 14: Niche Lending Segments: SBA Lending
14 148, 201, 61 20, 49, 89 Niche Lending Segments: SBA Lending Year Ended 12/31/22 Year Ended 12/31/24 3 SBA Lending • Continue to Realize Strategic and Sensible SBA Lending Opportunities through Economic Headwinds: – Given the continued less favorable economic outlook for many business owners over
Slide 15: Niche Lending Segments: Commercial Real Estate
15 148, 201, 61 20, 49, 89 Niche Lending Segments: Commercial Real Estate 4 Commercial Real Estate (including Multifamily) ✓ At September 30, 2026, 66% of the multifamily loan portfolio is secured by properties subject to free market rental terms, which is the dominant tenant type. Both the Market R
Slide 16: Niche Lending Segments: Multifamily Deep Dive
16 148, 201, 61 20, 49, 89 Niche Lending Segments: Multifamily Deep Dive (1): Loan Data as of September 30, 2026 ($ in thousands) Rent Type # of Notes Current DSCR Avg # of Units Location Manhattan 7 $ 24,263 4 % $ 3,466 62.5 % 1.33 13 Other NYC 97 $ 274,357 48 % $ 2,828 60.3 % 1.35 9 Outside NYC 42
Slide 17: Stabilized Multifamily Pro Forma Stress Results
17 148, 201, 61 20, 49, 89 Stabilized Multifamily Pro Forma Stress Results • The table above reflects a pro forma stressed evaluation of the Bank’s Multifamily rent stabilized loan portfolio at September 30, 2026, using the primary assumption for a revised Debt Service Coverage Ratio (“DSCR”) calcul
Slide 18: Asset Quality Managed Through Disciplined Policies
18 148, 201, 61 20, 49, 89 Note: Hanover previously had a fiscal year end of September 30th. 2021 - 2025 is for the period ended December 31st for each respective year. (1) Includes nonaccrual loans, loans greater than 90 days past due and accruing, and other real estate owned. (2) Excludes portion
Slide 19: Growing Core Deposit Franchise
19 148, 201, 61 20, 49, 89 NonInterest-bearing Deposits, 12% IB Demand, Savings & MMDA, 64% Time Deposits, 24% $191 $200 $208 $212 $248 $255 Dec-21 Dec-22 Dec-23 Dec-24 Dec-25 Sep-26 Deposit Growth ($mm) Noninterest-Bearing Deposit Growth ($mm) Noninterest-bearing Deposits 1% IB Demand, Savings & MM
Slide 20: Balance Sheet Liquidity and Securities Portfolio
Confidential Investor Presentation 20 Insured and Collateralized, 87% Uninsured, 13% 24% 7% 2% 32% 34% 1% U.S. GSE residential MBS - AFS U.S. GSE residential CMO - AFS U.S. GSE commercial MBS - AFS Collateralized loan obligations - AFS Corporate bonds- AFS U.S. GSE residential MBS - HTM High Level o
Slide 21: Confidential Investor Presentation 21
Confidential Investor Presentation 21
Slide 22: Significant Consolidation of NYC Metro Community Banks
Confidential Investor Presentation 22 2016 Rank Institution Deposits ($mm) 1 $2,695 2 $3,344 3 $2,926 4 $3,009 5 $3,412 6 $2,714 7 $2,260 8 $2,609 9 $1,838 10 $1,392 Significant Consolidation of NYC Metro Community Banks Provides Growth Opportunities Source: SEC Filings; S&P Global Market Intelligen
Slide 23: New York MSA – A Leading U.S. Banking Market
Confidential Investor Presentation 23 New York MSA – A Leading U.S. Banking Market Population (mm) Deposits per Branch ($mm) Deposits ($bn) Most Populated MSA 3 rd Largest Deposits per Branch (min $100bn in MSA) Largest Deposit Market (MSA) Small Businesses (mm) 4 th Most Small Businesses by State S
Slide 24: Non-GAAP Reconciliation: Tangible Book Value per Share
24 148, 201, 61 20, 49, 89 Non-GAAP Reconciliation Tangible Book Value per Share/Tangible Common Equity/Tangible Assets/Tangible Common Equity Ratio (1) Includes common stock and Series A preferred stock. As of Sep. 30, As of Jun. 30, As of Sep. 30, Non-GAAP Reconciliation Table 2026 2026 2025 2025
Slide 25: Non-GAAP Reconciliation: Adjusted Net Income and EPS
25 148, 201, 61 20, 49, 89 Non-GAAP Reconciliation Adjusted Net Income / Adjusted Diluted Earnings per Share / Adjusted ROAA / Adjusted ROATCE Note: Ratio as of or for the three months ended September 30th , 2026, June 30th , 2026, and September 30th, 2025 are annualized. (1) Includes common stock a
Slide 26: Non-GAAP Reconciliation: Pre-Provision Net Revenue
26 148, 201, 61 20, 49, 89 Non-GAAP Reconciliation Pre-Provision Net Revenue / Average Assets Note: Ratio as of or for the three months ended September 30th , 2026, June 30th , 2026, and September 30th, 2025 are annualized. 1) Net Revenue is pre-provision net revenue less provision for credit losses
Slide 27: Historical Consolidated Balance Sheet
27 148, 201, 61 20, 49, 89 Historical Consolidated Balance Sheet December 31, ($ in thousands) 2021 2022 2023 2024 2025 Total Cash and Cash Equivalents 114,951 152,298 177,207 162,857 208,904 Investment Securities 12,370 16,487 65,460 87,513 100,569 Total Cash & Investment Securities 127,321 168,785
Slide 28: Historical Consolidated Income Statement
28 148, 201, 61 20, 49, 89 Historical Consolidated Income Statement Nine Months Ended Sep. 30, ($ in thousands) 2021 2022 2023 2024 2025 2026 Total Interest Income 55,794 74,385 113,626 133,022 130,479 97,559 Total Interest Expense 6,144 13,135 61,739 79,930 70,002 47,400 Net Interest Income 49,650
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