Hanover Bancorp is the holding company for Hanover Community Bank, a New York-chartered community bank serving the New York metro area through branches across Long Island, Queens, Brooklyn, Manhattan, and New Jersey. Hanover's core business is lending, with a roughly $2.0B loan portfolio across three main areas: residential real estate, commercial real estate, and commercial & industrial (C&I) and SBA loans. Hanover's residential mortgage business focuses on non-conforming, alternative-documentation (non-QM) loans on 1-4 family properties, with particular appeal to Asian American borrowers in NYC who may not qualify for conventional loans. Commercial real estate lending targets income-producing properties at conservative loan-to-value ratios. C&I and SBA lending serves small and mid-sized businesses, with Hanover typically selling the government-guaranteed portion of SBA 7(a) loans into the secondary market to generate fee income. Like most community banks, Hanover earns money primarily through net interest income — borrowing via deposits at lower rates and lending at higher rates. A key differentiator is Hanover's municipal banking business, which provides deposit and banking services to Long Island municipalities, generating roughly $700M in relatively low-cost deposits without requiring a large branch network. Hanover has grown through selective acquisitions, including Chinatown Federal Savings Bank in 2019 and Savoy Bank in 2021, as well as its 2022 Nasdaq IPO. Hanover's stated growth priorities include expanding C&I lending, growing the municipal deposit franchise, and maintaining credit quality as it scales.