Hanover Bank


Overview / Commentary
516-248-4868
2131 Jericho Turnpike
Garden City Park, NY 11040

Hanover Bank is headquartered in GARDEN CITY PARK and is the 36th largest bank in the state of New York. It is also the 535th largest bank in the nation. It was established in 2009 and as of September of 2023, it had grown to 176 employees at 9 locations. Hanover Bank's money market rates are 9X the national average, and it has an A health rating.

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Health

Health Grade Components

Overall
FDIC Certificate #58675
Year Established2009
Employees176
Primary RegulatorFDIC
Profit Margin
Return on Assets - YTD0.69%
Return on Equity - YTD6.98%
Annual Interest Income$82.5MM
Assets and Liabilities
AssetsQ3 2023vs Q3 2022$2.15B$1.84B
LoansQ3 2023vs Q3 2022$1.86B$1.61B
DepositsQ3 2023vs Q3 2022$1.74B$1.53B
Equity CapitalQ3 2023vs Q3 2022$209.6MM$197.3MM
Loan Loss AllowanceQ3 2023vs Q3 2022$14.7MM$12.8MM
Unbacked Noncurrent LoansQ3 2023vs Q3 2022$14.6MM$13.3MM
Real Estate OwnedQ3 2023vs Q3 2022$0$0
Rates
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* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.

Hanover Bank Money Market Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
4.50%*$25k*-Business High Value Money Market - New Money
OTHER TIERS: 2.00% Up to $25k
4.00%*$500k*-Premium High Yield Money Market
OTHER TIERS: 3.50% $25k - $100k | 3.62% $100k - $250k | 3.75% $250k - $500k
3.50%$5k-Elite High Yield Personal Money Market
2.00%$5k-Business High Yield Money Market

Hanover Bank CD Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
5.00%$500-6 Month CD
5.00%$500-Business 6 Month CD
4.90%$500-8 Month CD
4.90%$500-Business 8 Month CD
4.75%$500-12 Month CD
4.75%$500-Business 12 Month CD
4.00%$500-13 Month CD
4.00%$500-Business 13 Month CD
3.50%$500-3 Month CD
3.50%$500-15 Month CD
3.50%$500-Business 15 Month CD
3.50%$500-Business 3 Month CD
3.00%$500-18 Month CD
3.00%$500-24 Month CD
3.00%$500-36 Month CD
3.00%$500-60 Month CD
3.00%$500-Business 18 Month CD
3.00%$500-Business 2 Year CD
3.00%$500-Business 3 Year CD
3.00%$500-Business 5 Year CD
Locations


Hanover Bank Locations
Rockefeller Center Branch600 Fifth Ave, 17th FloorNew York, NY 10020
Chinatown Branch109 BoweryNew York, NY 10002
Mineola Branch80 East Jericho TurnpikeMineola, NY 11501
Sunset Park Branch5512 8th AveBrooklyn, NY 11220
Freehold Branch4400 Us Highway 9Freehold, NJ 07728
Forest Hills Branch71-15 Austin StreetForest Hills, NY 11375
Garden City Park Branch2131 Jericho TpkeGarden City Park, NY 11040
Flushing Branch138-29 39th AvenueFlushing, NY 11354

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