Hanover Bancorp reports Q3 EPS 47c, consensus 47c

Reports Q3 tangible book value per share $24.43. Reports Q3 CET1 capital ratio 13.13%. Michael P. Puorro, Chairman and Chief Executive Officer, commented on the Company’s quarterly results: “Our third quarter performance reflects positive notes, including increased Pre-Provision Net Revenue of $6.0 million driven by an increase in net interest income and lower operating expenses. Continuing performance should be positively influenced by further Federal Open Market Committee rate decreases and an improved yield curve, positively impacting our liability sensitive balance sheet and potentially increasing lending opportunities. With our continued development of hi-tech branches in key markets, such as Hauppauge, Port Jefferson and others coming soon, supported by local, relationship-based Business Development Officers, we are growing market share in an effort to drive increased shareholder value.”