Bank News

Hanover Community Bank Announces Completion of Holding Company Reorganization

08/16/2016 -- Garden City Park, N.Y. – August 16, 2016 – Hanover Community Bank (“Hanover”, “the Bank”) announced today the completion of its proposed holding company reorganization effective as of the close of business August 10, 2016. As part of the reorganization, Hanover Bancorp, Inc. has become the parent of the Bank, and Bank shareholders will receive shares of the Company in exchange for their shares of bank common stock.

Michael P. Puorro, Chairman, President and Chief Executive Officer, stated, “The establishment of the holding company will provide us with additional flexibility in our operations and, most importantly, in raising capital to support our continued growth. Since December 31, 2012, the Bank’s total assets have increased from $68.5 million to $327.6 million at June 30, 2016. We expect to open our second branch at 71-15 and 71-17 Austin Street in Forest Hills, Queens, New York in November, 2016. We expect that the strong growth we have experienced since the end of 2012 will continue.”

Hanover Community Bank Ranks 29th in the "Top 200 Healthiest Banks in America"

8/1/2015 -- Each year evaluates the financial health of every federally insured bank in the United States – more than 6,900 total. Each institution is graded on a number of factors, including capitalization, deposit growth, and loan to reserve ratios, in order to determine a comprehensive health score.

From the list of 6,998 banks, recognizes those who have shown exceptional fiduciary responsibility in its 2015 edition of the Top 200 Healthiest Banks in America… ...more

Minority Banks Broaden Focus

Long Island Business News; By Claude Skolnik

8/23/2013 -- Hanover Community Bank opened in Garden City Park in 2009 with a plan: break through the clutter of community banks to directly serve a growing Asian population. ...more

A Unique Community Banking Experience

As seen in "New Hyde Park Herald Courier"

8/22/2013 -- Hanover Community Bank opened in Garden City Park in 2009. In the latter part of 2012, the Board of Directors of Hanover Community Bank, located at 2131 Jericho Turnpike, Garden City Park, NY, began a process of re-positioning the institution through a revamped Board and a new Management Team, whereby Michael P. Puorro joined the Bank as its new Chairman, President & CEO. ...more

Call Hanover Community Bank at (516) 548-8500 for more information on our banking products and services. Branch location, hours of operation and other related information can be found on our Contact page.

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