Industry: Banks Regional

Sector: Financial Services

Hanover Bancorp, Inc. operates as the bank holding company for Hanover Community Bank that provides banking products and services for small and medium-sized businesses, municipalities, and individuals in the New York metro area. The company offers checking, savings, money market, NOW, and individual retirement accounts, as well as certificates of deposit and time deposits; cards; and residential and commercial real estate mortgages, commercial and industrial loans, lines of credit, and small business administration loans, as well as home equity, multi-family, business, bridge, and other personal purpose loans. The company also offers cash management, online and mobile banking, merchant, professional, and digital solutions. Its banking offices are located in Kings, Nassau, and Queens Counties in New York and in Monmouth County in New Jersey. The company was founded in 2008 and is headquartered in Mineola, New York.

Hanover Bancorp Inc is evaluated using Mavefund's quality framework: growing earnings, durable profit margins, conservative leverage, strong return on equity, and disciplined share repurchases.