Hanover Bancorp (HNVR) Financial Statements & Analysis

Hanover Bancorp (HNVR) Income Statement

Hanover Bancorp reported revenue of $62.94M in fiscal 2025 (fiscal year ended Dec 31, 2025), down 8.0% from $68.43M a year earlier. Net income was $7.49M, down 39.3% year over year, a net margin of 11.9%. Gross margin was 100.0% and operating margin 15.8%. In the most recent quarter, Q2 fiscal 2026 (ended Jun 30, 2026), revenue was $19.57M, up 22.3% from the same quarter a year earlier.

Hanover Bancorp Income Statement Analysis

Values in millions USD

Income Statement Balance Sheet Cash Flow Ratios

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Hanover Bancorp, Inc. income statement - Annual data in millions USD
Breakdown	FY 2025	FY 2024	FY 2023	FY 2023	FY 2022	FY 2021	FY 2021	FY 2020	FY 2019	FY 2018	FY 2017
Period ending	Dec 2025	Dec 2024	Sep 2023	Dec 2022	Sep 2022	Dec 2021	Sep 2021	Sep 2020	Dec 2019	Sep 2018	Sep 2017
Revenue & Gross Profit
Revenue	62.94	68.43	58.93	113.89	77.30	52.02	45.06	41.50	39.27	19.34	13.05
Cost of Revenue	80.38	84.87	-	53.98	11.63	7.97	-	14.26	0.00	0.00	0.00
Gross Profit	62.94	63.49	-	59.91	65.68	44.06	-	27.24	39.27	19.34	13.05
Operating Expenses
Research & Development	0.00	0.00	-	0.00	0.00	0.00	-	0.00	0.00	0.00	0.00
Selling, General & Administrative	14.03	27.02	12.71	21.91	20.03	14.88	14.88	12.39	13.80	10.74	8.05
Operating Expenses	52.98	47.11	-	39.72	35.18	30.01	-	21.02	3.27	12.81	9.43
Operating Income	9.95	16.38	-	20.19	30.50	14.05	-	6.21	11.39	7.46	3.92
Other Income/Expense
Interest Income	130.48	133.02	105.04	105.04	68.43	48.68	48.68	40.13	0.00	0.00	0.00
Interest Expense	70.00	79.93	50.55	50.55	7.18	6.97	6.97	13.01	2.84	0.00	0.00
Other Income/Expense	0.00	0.00	-	0.00	0.00	0.00	-	0.00	-2.41	-2.07	-1.39
Income
Income Before Tax	9.95	16.38	20.19	20.19	30.50	14.05	14.05	6.21	10.33	6.53	3.62
Income Tax Expense	2.47	4.03	5.02	5.02	6.94	3.20	3.20	1.24	2.24	1.93	1.47
Net Income	7.49	12.35	15.16	15.16	23.56	10.85	10.85	4.97	8.09	4.60	2.15
Net Income - Continuous Operations	7.49	12.35	15.16	15.16	23.56	10.85	10.85	4.97	8.09	4.60	2.15
Net Income - Discontinued Operations	-	-	-	-	-	-	-	-	-	-	-
EBITDA	2.06	2.15	1.88	23.68	32.24	15.53	-	7.56	11.03	17.20	10.01
EBIT	-	-	-	-	-	-	-	-	-	-	-
Depreciation & Amortization	4.15	3.87	3.49	3.49	1.74	1.48	1.48	1.35	0.70	0.00	0.00
Earnings Per Share
Basic EPS	1.00	2.00	2.00	2.00	4.00	2.00	2.00	1.00	2.00	1.00	1.00
Diluted EPS	1.00	2.00	2.00	2.00	4.00	2.00	2.00	1.00	2.00	1.00	1.00
Basic Shares Outstanding	7.26	7.40	7.04	7.04	6.07	4.67	4.58	4.19	4.19	3.38	2.76
Diluted Shares Outstanding	7.26	7.43	7.12	7.12	6.16	4.76	4.66	4.19	4.19	3.38	2.76

Source: Company financial statements from annual and quarterly filings. Data as of Jun 30, 2026. Data sources and methodology

Frequently Asked Questions About Hanover Bancorp Financial Statements

What was Hanover Bancorp's revenue in fiscal 2025?

Hanover Bancorp reported revenue of $62.94M in fiscal 2025 (fiscal year ended Dec 31, 2025). That was down 8.0% from $68.43M a year earlier.

Is Hanover Bancorp profitable?

Yes. Hanover Bancorp earned net income of $7.49M in fiscal 2025, a net margin of 11.9%. In fiscal 2024 it earned $12.35M.

What is Hanover Bancorp's operating margin?

Hanover Bancorp's operating income was $9.95M on revenue of $62.94M in fiscal 2025, an operating margin of 15.8%, compared with 23.9% a year earlier.

What is net profit margin?

Net profit margin is net income divided by revenue. It shows how much of each dollar of sales a company keeps as profit after all costs, interest and taxes. Full definition