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 44th largest bank in the state of New York. It is also the 667th largest bank in the nation. It was established in 2009 and as of June of 2022, it had grown to 154 employees at 8 locations. Hanover Bank's money market rates are 7X the national average, and it has an A health rating.

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Health

Health Grade Components

Overall
FDIC Certificate #58675
Year Established2009
Employees154
Primary RegulatorFDIC
Profit Margin
Return on Assets - YTD1.55%
Return on Equity - YTD13.98%
Annual Interest Income$32.2MM
Assets and Liabilities
AssetsQ2 2022vs Q2 2021$1.61B$1.54B
LoansQ2 2022vs Q2 2021$1.40B$1.29B
DepositsQ2 2022vs Q2 2021$1.35B$1.16B
Equity CapitalQ2 2022vs Q2 2021$191.1MM$138.7MM
Loan Loss AllowanceQ2 2022vs Q2 2021$10.9MM$7.9MM
Unbacked Noncurrent LoansQ2 2022vs Q2 2021$13.5MM$10.4MM
Real Estate OwnedQ2 2022vs Q2 2021$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 Savings Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
2.50%*$5k*-More YOU Savings
OTHER TIERS: 0.10% $100 - $5k

Hanover Bank Money Market Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
3.25%$5k-High Yield Personal Money Market
2.00%$5k-Business High Yield Money Market

Hanover Bank CD Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
4.15%$500-13 Month CD
4.15%$500-Business 13 Month CD
3.65%$500-18 Month CD
3.65%$500-Business 18 Month CD
3.55%$500-15 Month CD
3.55%$500-Business 15 Month CD
3.30%$500-12 Month CD
3.30%$500-Business 12 Month CD
3.00%$500-24 Month CD
3.00%$500-6 Month CD
3.00%$500-Business 6 Month CD
3.00%$500-Business 24 Month CD
2.95%$500-60 Month CD
2.95%$500-Business 60 Month CD
2.90%$500-36 Month CD
2.90%$500-Business 36 Month CD

Hanover Bank IRA Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
4.15%$500-13 Month IRA
3.65%$500-18 Month IRA
3.55%$500-15 Month IRA
3.30%$500-12 Month IRA
3.00%$500-6 Month IRA
3.00%$500-24 Month IRA
2.95%$500-60 Month IRA
2.90%$500-36 Month IRA
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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