Hanover Bancorp, Inc. Completes $35 Million Private Placement of Subordinated Notes [Yahoo! Finance]
Hanover Bancorp, Inc. (HNVR)
Company Research
Source: Yahoo! Finance
company of Hanover Community Bank, is pleased to announce that the Company has completed the private placement of $35 million in aggregate principal amount of fixed-to-floating rate subordinated notes due 2036 (the “Notes”) to certain qualified institutional buyers and accredited investors. The Notes will initially bear interest, payable semi-annually, at the rate of 7.25% per annum, until March 15, 2031. From and including March 15, 2031, to but excluding the maturity date or early redemptions date, the interest rate applicable to the outstanding principal amount due will reset quarterly to the then current three-month secured overnight financing rate (SOFR) plus 386 basis points. The Notes received a BBB+ rating from Egan-Jones Ratings Company and are intended to qualify as Tier 2 capital for regulatory capital purposes for the Company. The Company intends to use the net proceeds to redeem the Company's outstanding $25 million in aggregate principal amount of subordinated notes
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News
- Hanover Bancorp, Inc. Completes $35 Million Private Placement of Subordinated NotesGlobeNewswire
- Hanover Bancorp (NASDAQ:HNVR) was downgraded by analysts at Zacks Research from a "hold" rating to a "strong sell" rating.MarketBeat
- Hanover Bancorp (NASDAQ:HNVR) was given a new $26.50 price target on by analysts at Piper Sandler.MarketBeat
- Hanover Bancorp, Inc. Announces the Addition of a New Chief Commercial Real Estate Lending OfficerGlobeNewswire
- Hanover Bancorp, Inc. Reports 2025 Full Year and Fourth Quarter Results and Declares $0.10 Quarterly Cash DividendGlobeNewswire
HNVR
Earnings
- 10/30/25 - Miss
HNVR
Sec Filings
- 3/13/26 - Form 10-K
- 3/12/26 - Form 8-K
- 2/24/26 - Form 4
- HNVR's page on the SEC website