Hanover Bancorp, Inc. · NASDAQ:HNVR
Hanover Bancorp — Investor Presentation (September 2026)
28 slides from Hanover Bancorp's investor presentation, September 2026
Slide 1: Investor Presentation
Confidential Investor Presentation INVESTOR PRESENTATION September 2026 1
Slide 2: Disclaimer
Disclaimer This presentation has been prepared by us solely for informational purposes based on our own information, as well as information from public and industry sources. This presentation does not constitute an offer to sell, nor a solicitation of an offer to buy, any securities by any person in
Slide 3: Overview of Hanover Bancorp, Inc.
Overview of Hanover Bancorp, Inc. Company Background & Financial Snapshot Key Metrics & Banking Footprint • Hanover Bancorp, Inc. (the “Company”) is the bank holding 06/30/26 06/30/26 06/30/26 company of Hanover Community Bank (the “Bank”) The Bank was founded in 2009 and is headquartered in Mineola
Slide 4: Investment Highlights
Investment Highlights • Recent market consolidation has resulted in a lack of sub-$5 billion asset sized banks in the Long Island and High Degree of Greater New York City Metro Area. Franchise Scarcity Value • Since June 2020, there have been 25 bank merger transactions in the tri-state area, 18 of
Slide 5: Corporate Timeline
Corporate Timeline Growth in Total Assets ($mm) $2,270 $2,312 $2,383 $2,337 $1,984 $1,458 $862 $877 $541 $652 2017 2018 2019 2020 2021 2022 2023 2024 2025 Jun-26 ✓ In March and June 2017, we ✓ In February 2019, the Bank further ✓ In February 2022, we initiated a ✓ Filed a shelf registration statemen
Slide 6: Hanover Executive Management Team
Confidential Investor Presentation Hanover Executive Management Team Years of Banking Year Started at Name Position with Hanover Experience Hanover Michael P. Puorro Chairman and CEO 35+ 2012 Kevin O’Connor President 35+ 2026 Lance P. Burke Senior Exec. VP & Chief Financial Officer 25+ 2021 Michael
Slide 7: Business Strategy
Confidential Investor Presentation Business Strategy Creating a Differentiated Community Bank • 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 • Continue to penetrate the potential customer bases across
Slide 8: March 2026 $35M Holding Company Subordinated Debt Issuance
Confidential Investor Presentation Subordinated Debt Issuance March 2026 • 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) $35M Holding • 10 Year final maturity, with
Slide 9: Strong and Efficient Profitability
Confidential Investor Presentation Strong and Efficient Profitability Success Maintaining Strong Profitability Metrics Across a Branch-lite Operating Model Net Income and Non-Interest Income ($M) Recent Margin Expansion Non-Interest Income Adjusted Net Income Yield on Loans Cost of Deposits NIM 6.18
Slide 10: TBV Per Share & Balance Sheet Growth
Confidential Investor Presentation TBV Per Share & Balance Sheet Growth Book Value / Tangible Book Value per Share(1) Total Assets ($mm) Book Value Per Share Tangible Book Value per Share $26.48 $27.02 $27.66 $2,383 $25.16 $2,270 $2,312 $2,337 $23.26 $24.34 $23.86 $24.41 $25.02 $22.51 $1,984 $21.66
Slide 11: Diversified Loan Portfolio with Historical Growth
Diversified Loan Portfolio with Historical Growth Diversifying our Loan Portfolio As of December 31, 2021 As of June 30, 2026 Consumer 0.0% Consumer 0.0% C&D 0.5% C&I C&I 7.5% 8.6% 1-4 CRE Family 1-4 29.1% $1.3 34.2% CRE 25.4% $2.0 Family 38.3% billion billion Multifamily 28.1% Multifamily 28.3% 4Q’
Slide 12: Niche Lending & Branch-Lite Model Drives Profitability
Confidential Investor Presentation Niche Lending & Branch-Lite Model Drives Profitability Niche Lending & Funding Expertise Drives Pricing Power Efficient, Profitable and Scalable Business Model ✓ A number of our business segments are focused on providing Total Assets per Office specialized lending
Slide 13: Niche Lending Segments: Niche-Residential and C&I
Niche Lending Segments: Niche-Residential and C&I • For the quarter ended June 30, 2026, Hanover’s HFI loan portfolio remained flat at $2.0 billion, from December 31, 2025. 1 Residential Real Estate • Hanover's loan pipeline at June 30, 2026 is approximately $223 million, ✓ Initiated our residential
Slide 14: Niche Lending Segments: SBA Lending
Niche Lending Segments: SBA Lending Year Year Year Year YTD 3 SBA Lending Ended Ended Ended Ended Annualized 12/31/22 12/31/23 12/31/24 12/31/25 06/30/26 $161.0 $140.8 • Continue to Realize Strategic and SBA Sensible SBA Lending Opportunities Originations $72.1 $84.0 through Economic Headwinds: ($M)
Slide 15: Niche Lending Segments: Commercial Real Estate
Niche Lending Segments: Commercial Real Estate 4 Commercial Real Estate (including Multifamily) Fixed Rate Reset / Maturity Schedule ($000s) ✓ At June 30, 2026, 63% of the multifamily loan CRE Investor Portfolio portfolio is secured by properties subject to free Calendar Period Avg market rental ter
Slide 16: Niche Lending Segments: Multifamily Deep Dive
Niche Lending Segments: Multifamily Deep Dive ($ in thousands) (1) Multifamily Loan Portfolio % of- Loans Total by Rent Type # of Outstanding Multi- Avg Loan Current Avg # Rent Type Notes Loan Balance Family Size LTV DSCR of Units ($000's omitted) ($000's omitted) Location Manhattan 6 $ 10,300 2 % $
Slide 17: Stabilized Multifamily Pro Forma Stress Results
Stabilized Multifamily Pro Forma Stress Results Multifamily Stabilized Rent Portfolio Total O/S % of Total Current Projected ($000's MF Weighted Weighted DSCR Range # Loans omitted) Portfolio Average LTV Average LTV < 1.0 5 $ 16,207 3 % 62 % 102 % 1.0 < x < 1.2 14 33,833 6 % 62 % 75 % 1.2 < x < 1.3
Slide 18: Asset Quality Managed Through Disciplined Policies and Procedures
Asset Quality Managed Through Disciplined Policies and Procedures • Management utilized local community ties along with their experience with both federal and New York bank regulatory agencies to create a bank that emphasizes strong credit quality. • Total loans having credit risk ratings of Special
Slide 19: Growing Core Deposit Franchise
Growing Core Deposit Franchise Diversifying our Deposit Composition As of September 30, 2012 As of June 30, 2026 Noninterest-bearing Deposits NonInterest-bearing 1% Deposits, 13% IB Demand, Savings & MMDA Time 26% Deposits, 25% $54 $2.0 million billion Time Deposits 73% IB Demand, Savings & MMDA, 62
Slide 20: Balance Sheet Liquidity
Confidential Investor Presentation Balance Sheet Liquidity As of June 30, 2026, the Company maintained a strong High Level of Insured and Collateralized Deposits liquidity position with $742.6 million in undrawn sources, Insured and collateralized deposits, which include municipal deposits, accounte
Slide 21: Confidential Investor Presentation
Confidential Investor Presentation 21
Slide 22: Significant Consolidation of NYC Metro Community Banks Provides Growth Opportunities
Confidential Investor Presentation Significant Consolidation of NYC Metro Community Banks Provides Growth Opportunities % of Banks Acquired in NYC(1) Top 20 NYC MSA Banks in 2016(2) Acquired Institutions ranked by asset size Approximately 37% of banks(1) in NYC MSA were consolidated in the last 5 ye
Slide 23: New York MSA – A Leading U.S. Banking Market
Confidential Investor Presentation New York MSA – A Leading U.S. Banking Market Most Populated MSA 3rd Largest Deposits per Branch (min $100bn in MSA) Population (mm) Deposits per Branch ($mm) New York City 19.4 Sioux Falls, SD $4,875 Los Angeles 12.8 Salt Lake City, UT $4,098 Chicago 9.2 New York C
Slide 24: Non-GAAP Reconciliation
Non-GAAP Reconciliation Tangible Book Value per Share/Tangible Common Equity/Tangible Assets/Tangible Common Equity Ratio As of Jun. 30, As of Mar. 31, As of Jun. 30, As of December 31, Non-GAAP Reconciliation Table 2026 2026 2025 2025 2024 2023 2022 2021 (dollars in thousands except per share data)
Slide 25: Non-GAAP Reconciliation
Non-GAAP Reconciliation Adjusted Net Income / Adjusted Diluted Earnings per Share / Adjusted ROAA / Adjusted ROATCE Non-GAAP Reconciliation Table As of or For the Three Months Ended As of or For the Years Ended December 31, 06/30/26 03/31/26 06/30/25 2025 2024 2023 2022 2021 (dollars in thousands, e
Slide 26: Non-GAAP Reconciliation
Non-GAAP Reconciliation Pre-Provision Net Revenue / Average Assets Non-GAAP Reconciliation Table As of or For the Three Months Ended As of or For the Years Ended December 31, 06/30/26 03/31/26 06/30/25 2025 2024 2023 2022 2021 (dollars in thousands) Net interest income (GAAP) $ 16,771 $ 16,362 $ 14,
Slide 27: Historical Consolidated Balance Sheet
Historical Consolidated Balance Sheet December As of December 31, 31, As of June30, ($ in thousands) 2021 2022 2023 2024 2025 ($ in thousands) 2021 2022 2023 2024 2025 2026 Total Cash and Cash Equiv alents 114,951 152,298 177,207 162,857 208,904 Total Cash and Cash Equiv alents 114,951 152,298 177,2
Slide 28: Historical Consolidated Income Statement
Historical Consolidated Income Statement Six Months Ended Years Ended December 31, June 30, ($ in thousands) 2021 2022 2023 2024 2025 2026 Total I nterest I ncome 55,794 74,385 113,626 133,022 130,479 64,358 Total I nterest Expense 6,144 13,135 61,739 79,930 70,002 31,225 Net Interest Income 49,650
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