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Hanover Bank


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

Hanover Bank is headquartered in Garden City Park and is the 58th largest bank in the state of New York. It is also the 934th largest bank in the nation. It was established in 2009 and as of December of 2019, it had grown to 96 employees at 7 locations. Hanover Bank has an A health rating.

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Health
A

Data as of Q4 2019

Learn why bank health matters

Health Grade Components

Overall
FDIC Certificate #58675
Year Established2009
Employees96
Primary RegulatorFDIC
Profit Margin
Return on Assets - YTD1.1%
Return on Equity - YTD10.2%
Annual Interest Income$36.8MM
Assets and Liabilities
AssetsQ4 2019vs Q4 2018$861.6MM$651.5MM
LoansQ4 2019vs Q4 2018$716.1MM$559.4MM
DepositsQ4 2019vs Q4 2018$670.5MM$468.3MM
Equity CapitalQ4 2019vs Q4 2018$87.3MM$74.4MM
Loan Loss AllowanceQ4 2019vs Q4 2018$7.1MM$6.7MM
Unbacked Noncurrent LoansQ4 2019vs Q4 2018$1.1MM$0
Real Estate OwnedQ4 2019vs Q4 2018$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
0.50%-$10kPremium Custodian Savings
0.25%-$600kCustodian Savings
0.25%*$25k*-Business Savings
OTHER TIERS: 0.10% → $500 - $10k | 0.20% → $10k - $25k
0.25%-$600kStatement Savings

Hanover Bank Money Market Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.40%*$100k*-Personal Money Market
OTHER TIERS: 0.20% → $2.5k - $100k
0.40%*$100k*-Business Money Market
OTHER TIERS: 0.20% → $2.5k - $100k

Hanover Bank Checking Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.05%$300-Total Checking Plus

Hanover Bank CD Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.50%$500-12 Month CD
0.50%$500-18 Month CD
0.50%$500-24 Month CD
0.50%$500-36 Month CD
0.50%$500-60 Month CD
0.50%$500-15 Month CD
0.40%$500-6 Month CD

Hanover Bank IRA Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.50%$500-12 Month IRA
0.50%$500-15 Month IRA
0.50%$500-18 Month IRA
0.50%$500-24 Month IRA
0.50%$500-36 Month IRA
0.50%$500-60 Month IRA
0.40%$500-6 Month IRA
Locations


Hanover Bank Locations
Hanover Community Bank2131 Jericho TurnpikeGarden City Park, NY 11040
Forest Hills Branch71-15 Austin StreetForest Hills, NY 11375
Mineola Branch Office80 Jericho TurnpikeMineola, NY 11501
Flushing Branch Office138-29 39th AvenueFlushing, NY 11354
8thavenue Branch5512 8th AveBrooklyn, NY 11220
Canal Street Branch172 Canal StreetNew York, NY 10013
Chinatown Federal Savings Bank Branc107-109 BoweryNew York, NY 10002

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