Hanover Bank

TODAY'S FEATURED RATES

Member FDIC

4.10%

Our Rating

4.2 / 5

CIT Bank

Platinum Savings

See Offer

Sponsored Note: Get up to a $300 Cash Bonus. FDIC Insured. See site for details.

Member FDIC

4.30%

Our Rating

4.1 / 5

BrioDirect

High-Yield Savings

See Offer

Sponsored Note: You must deposit at least $5,000 to open your account. Member FDIC

Member FDIC

4.44%

Our Rating

4.3 / 5

Peak Bank

Envision High Yield Savings

See Offer

Sponsored Note: Member FDIC: Insured up to $250,000. $100 Deposit Earns Interest Immediately.

Member FDIC

3.80%

Our Rating

4.3 / 5

SoFi® Bank, N.A.

SoFi Checking and Savings

See Offer

Sponsored Note: Earn up to 3.80% APY and up to $300 with direct deposit. Members can unlock our highest savings rate with direct deposit OR by depositing $5,000 or more every 30 days. Terms Apply. Member FDIC

Member FDIC

3.60%

Our Rating

4.2 / 5

American Express

American Express® High Yield Savings Account

See Offer

Sponsored Note: Interest compounds daily, deposited monthly

Member FDIC

up to $300

Our Rating

4.3 / 5

SoFi® Bank, N.A.

SoFi Checking and Savings

See Offer

Sponsored Note: Earn up to $300 with direct deposit, plus 2-day-early-pay. FDIC insured!

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 35^th largest bank in the state of New York. It is also the 525^th largest bank in the nation. It was established in 2009 and as of December of 2024, it had grown to 185 employees at 9 locations. Hanover Bank's money market rates are 9X the national average, and it has a B+ health rating.

Reviews (1)

Write a Review

Great Rate, But Issues

Posted by: jeffgold | Oct 11, 2024

Required 12 debit card transaction each month. Only one person able to answer Kasasa-specific questions. Multiple problems with Hanover-initiated ACH transactions. Solved by using externally-initiated ACH transactions.

Comment

Health

B+

Data as of Q4 2024

Learn why bank health matters

Health Grade Components

Overall
FDIC Certificate #	58675
Year Established	2009
Employees	185
Primary Regulator	FDIC

Profit Margin
Return on Assets - YTD	0.59%
Return on Equity - YTD	6.33%
Annual Interest Income	$133MM

Assets and Liabilities
Assets	Q4 2024vs Q4 2023	$2.31B$2.27B
Loans	Q4 2024vs Q4 2023	$1.98B$1.95B
Deposits	Q4 2024vs Q4 2023	$1.96B$1.9B
Equity Capital	Q4 2024vs Q4 2023	$219.7MM$208.6MM
Loan Loss Allowance	Q4 2024vs Q4 2023	$22.8MM$19.7MM
Unbacked Noncurrent Loans	Q4 2024vs Q4 2023	$16MM$14MM
Real Estate Owned	Q4 2024vs Q4 2023	$0$0

TODAY'S FEATURED RATES

Member FDIC

4.10%

Our Rating

4.2 / 5

CIT Bank

Platinum Savings

See Offer

Sponsored Note: Get up to a $300 Cash Bonus. FDIC Insured. See site for details.

Member FDIC

4.30%

Our Rating

4.1 / 5

BrioDirect

High-Yield Savings

See Offer

Sponsored Note: You must deposit at least $5,000 to open your account. Member FDIC

Member FDIC

4.44%

Our Rating

4.3 / 5

Peak Bank

Envision High Yield Savings

See Offer

Sponsored Note: Member FDIC: Insured up to $250,000. $100 Deposit Earns Interest Immediately.

Member FDIC

3.80%

Our Rating

4.3 / 5

SoFi® Bank, N.A.

SoFi Checking and Savings

See Offer

Member FDIC

3.60%

Our Rating

4.2 / 5

American Express

American Express® High Yield Savings Account

See Offer

Sponsored Note: Interest compounds daily, deposited monthly

Member FDIC

up to $300

Our Rating

4.3 / 5

SoFi® Bank, N.A.

SoFi Checking and Savings

See Offer

Sponsored Note: Earn up to $300 with direct deposit, plus 2-day-early-pay. FDIC insured!

Rates

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Savings
Money Market
Checking
CD

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Always verify rates and promotions with the bank or credit union. We are not Hanover Bank; we are a rate comparison website and cannot provide official rates or promotions.

* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.

Hanover Bank Savings Account Rates

APY	MIN	MAX	ACCOUNT NAME	VIEW DETAILS
3.50%^*	$0	$100k	Kasasa Saver Savings
OTHER TIERS: 0.19% → $100k+

Hanover Bank Money Market Rates

APY	MIN	MAX	ACCOUNT NAME
4.00%^*	$25k^*	-	Business High Value Money Market - New Money
OTHER TIERS: 2.00% → $0 - $25k
3.85%^*	$500k^*	-	Premium High Yield Money Market
OTHER TIERS: 3.35% → $25k - $100k \| 3.50% → $100k - $250k \| 3.60% → $250k - $500k
3.35%	$5k	-	Elite High Yield Personal Money Market
2.00%	$5k	-	Business High Yield Money Market

Hanover Bank Checking Account Rates

APY	MIN	MAX	ACCOUNT NAME	VIEW DETAILS
5.75%^*	$0	$25k	Kasasa Cash Checking
OTHER TIERS: 0.49% → $25k+

Hanover Bank CD Rates

APY	MIN	MAX	ACCOUNT NAME
4.25%	$500	-	6 Month CD
4.25%	$500	-	Business 6 Month CD
4.10%	$500	-	8 Month CD
4.10%	$500	-	Business 8 Month CD
4.00%	$500	-	3 Month CD
4.00%	$500	-	Business 3 Month CD
3.85%	$500	-	12 Month CD
3.85%	$500	-	Business 12 Month CD
3.50%	$500	-	15 Month CD
3.50%	$500	-	Business 15 Month CD
3.25%	$500	-	18 Month CD
3.25%	$500	-	Business 18 Month CD
3.00%	$500	-	2 Year CD
3.00%	$500	-	3 Year CD
3.00%	$500	-	5 Year 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 Branch	600 Fifth Ave, 17th Floor	New York, NY 10020
Bowery Branch	109 Bowery	New York, NY 10002
Mineola Branch	80 East Jericho Turnpike	Mineola, NY 11501
Sunset Park Branch	5512 8th Ave	Brooklyn, NY 11220
Freehold Branch	4400 Us Highway 9	Freehold, NJ 07728
Flushing Branch	138-29 39th Avenue	Flushing, NY 11354
Forest Hills Branch	71-15 Austin Street	Forest Hills, NY 11375
Garden City Park Branch	2131 Jericho Tpke	Garden City Park, NY 11040
Hauppauge Branch	410 Motor Parkway, 3rd Floor	Hauppauge, NY 11788

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