Hanover Bancorp (HNVR) Declares $0.10 Quarterly Dividend; 2.3% Yield

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Go back to Hanover Bancorp (HNVR) Declares $0.10 Quarterly Dividend; 2.3% Yield

Hanover Bancorp, Inc. Reports Earnings for the Second Quarter and Declares $0.10 Quarterly Cash Dividend

July 24, 2024 4:00 PM EDT

Second Quarter Performance Highlights

Net Income: Net income for the quarter ended June 30, 2024 totaled $0.8 million (after giving effect to an allowance for credit loss (ACL) on an individually evaluated loan of $2.5 million and a $1.1 million provision resulting from ongoing enhancements to the current expected credit loss (CECL) model) or $0.11 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 prior linked quarter and $3.1 million or $0.42 per diluted share (including Series A preferred shares) in the comparable 2023... More