Hanover Bank

Overview / Commentary
2131 Jericho Turnpike
Garden City Park, NY 11040

Hanover Bank is headquartered in Garden City Park and is the 46th largest bank in the state of New York. It is also the 703rd largest bank in the nation. It was established in 2009 and as of March of 2022, it had grown to 152 employees at 7 locations. Hanover Bank's CD rates are 2X the national average, and it has an A health rating.


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Health Grade Components

FDIC Certificate #58675
Year Established2009
Primary RegulatorFDIC
Profit Margin
Return on Assets - YTD1.67%
Return on Equity - YTD15.64%
Annual Interest Income$15.9MM
Assets and Liabilities
AssetsQ1 2022vs Q1 2021$1.48B$890.4MM
LoansQ1 2022vs Q1 2021$1.28B$756.3MM
DepositsQ1 2022vs Q1 2021$1.23B$720.0MM
Equity CapitalQ1 2022vs Q1 2021$159.5MM$105.4MM
Loan Loss AllowanceQ1 2022vs Q1 2021$9.9MM$8.2MM
Unbacked Noncurrent LoansQ1 2022vs Q1 2021$11.4MM$9.7MM
Real Estate OwnedQ1 2022vs Q1 2021$0$0
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Hanover Bank CD Rates

2.75%$500-60 Month CD
2.70%$500-24 Month CD
2.70%$500-36 Month CD
2.55%$500-18 Month CD
1.85%$500-12 Month CD
0.90%$500-6 Month CD
0.30%$500-15 Month CD

Hanover Bank IRA Rates

2.75%$500-60 Month IRA
2.70%$500-24 Month IRA
2.70%$500-36 Month IRA
2.55%$500-18 Month IRA
1.85%$500-12 Month IRA
0.90%$500-6 Month IRA
0.30%$500-15 Month IRA

Hanover Bank Locations
Hanover Community Bank2131 Jericho TpkeGarden City Park, NY 11040
Forest Hills Branch71-15 Austin StreetForest Hills, NY 11375
Mineola Branch Office80 East Jericho TurnpikeMineola, NY 11501
Flushing Branch Office138-29 39th AvenueFlushing, NY 11354
8thavenue Branch5512 8th AveBrooklyn, NY 11220
Chinatown Federal Savings Bank Branc109 BoweryNew York, NY 10002
Rockefeller Center Branch600 Fifth Ave, 17th FloorNew York, NY 10020
Freehold Branch 4400 Route 9, Suite 2800Freehold, NJ 07728

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