Hanover Community Bank
Garden City Park, New York, Nassau County
$2.3B in total assets, the 548th largest of 4,309 US banks and 45th of 126 headquartered in New York.
- FDIC certificate
- 58675
- Established
- 2009
- Owned by
- Hanover Bcorp Inc
- Primary regulator
- FDIC
- Website
- www.hanoverbank.com
At a glance
Compared with 44 banks headquartered in New York with $1 billion to $10 billion in assets, as of June 30, 2026.
| Measure | This bank | Percentile | Peer range, middle 90% | Peer median |
|---|---|---|---|---|
| Total assets | $2.3B | 46% | $2.5B | |
| Loans | $2.0B | 64% | $1.9B | |
| Deposits | $2.0B | 50% | $2.1B | |
| Return on assets | 0.50% | 10% | 1.06% | |
| Net interest margin | 3.08% | 30% | 3.53% | |
| Efficiency ratio | 72.1% | 70% | 59.2% | |
| Equity to assets | 10.10% | 52% | 9.98% | |
| Loans to deposits | 99% | 84% | 86% |
Growth
Total assets grew 8.7% a year over the last 5 years and 21.7% a year over 10 years, including 2 acquisitions in the last 10 years.
Acquisitions
| Closed | Acquired bank | Assets at acquisition |
|---|---|---|
| May 2021 | Savoy Bank New York, NY | $692M |
| Aug 2019 | Chinatown Federal Savings Bank New York, NY | $139M |
Where they operate
10 branches in 6 counties.
Largest markets by deposits
| County | Deposits | Market share | Rank |
|---|---|---|---|
| Nassau County, NY | $1.5B | 1.5% | 13 of 33 |
| New York County, NY | $181M | 0.0% | 56 of 83 |
| Suffolk County, NY | $140M | 0.2% | 18 of 22 |
| Queens County, NY | $103M | 0.1% | 43 of 52 |
| Kings County, NY | $58M | 0.1% | 36 of 41 |
| Monmouth County, NJ | $22M | 0.1% | 23 of 23 |
Deposits by branch from the FDIC Summary of Deposits, June 2026. Rank among all banks with branches in that county.
Branch history since 2016
Net gain of 9 branches since 2016 (1 to 10, +900.0%). 6 opened, 4 acquired, 1 closed or sold.
| Period | What happened | Opened or acquired | Closed or sold | Net change | Branches at end |
|---|---|---|---|---|---|
| Start of 2016 | Starting point | 1 | |||
| 2017 | Opened Forest Hills and Mineola | 2 | 0 | +2 | 3 |
| 2019 | Acquired Chinatown Federal Savings BankOpened Flushing | 4 | 0 | +4 | 7 |
| 2021 | Acquired Savoy BankClosed New York | 1 | 1 | 0 | 7 |
| 2022 | Opened Freehold | 1 | 0 | +1 | 8 |
| 2023 | Opened Hauppauge | 1 | 0 | +1 | 9 |
| 2025 | Opened Port Jefferson | 1 | 0 | +1 | 10 |
Balance sheet and earnings
Loans by type
| Type | Share | This bank | Peers |
|---|---|---|---|
| 1-4 family residential | 38% | 25% | |
| Multifamily | 28% | 12% | |
| Commercial real estate | 25% | 27% | |
| Business (C&I) | 8% | 20% | |
| Construction and land | 1% | 5% | |
| Consumer | 0% | 5% | |
| Other | 0% | 6% |
Deposits by type
| Type | Share | This bank | Peers |
|---|---|---|---|
| Other interest-bearing | 62% | 53% | |
| Time deposits | 25% | 27% | |
| Noninterest-bearing | 13% | 19% |
Brokered deposits are 6.3% of deposits (peers 3.8%).
Return on assets
Trailing four quarters, with the peer median.
Credit and capital
| This bank | Peer median | |
|---|---|---|
| Noncurrent loans | 1.06% | 0.62% |
| Net charge-offs, annualized | 0.06% | 0.03% |
| Reserves to loans | 0.96% | 1.00% |
| Leverage ratio | 9.76% | 10.24% |
Noncurrent loans exclude government-guaranteed portions.
Related banks
Similar size in New York
Largest competitors in Nassau County, NY
Figures as of June 30, 2026 from the bank's Call Report, FDIC structure and branch data, and the Federal Reserve. Short link: bankingstats.com/hanover