Hanover Bancorp, Inc. Announces Share Repurchase Program — Up to 5%

What Happened
Hanover Bancorp, Inc. (parent of Hanover Community Bank) announced on August 26, 2026 that its Board of Directors approved a new Share Repurchase Program. The program authorizes repurchases of up to 370,000 shares, approximately 5% of outstanding common stock, and will expire on August 17, 2027. The program will begin once the company exhausts its prior repurchase authorization approved October 5, 2023.

Key Details

• Board approval date: August 26, 2026; program expiration: August 17, 2027.
• Authorized repurchases: up to 370,000 shares, ≈5% of outstanding common stock.
• Repurchase methods: open market purchases, privately negotiated transactions, and/or under Rule 10b5-1 trading plans.
• Management retains discretion on timing, volume and price (except under 10b5-1 plans); repurchases subject to securities laws (including SEC Rule 10b-18), corporate/regulatory requirements, and capital/liquidity needs.
• The program does not obligate the Company to buy any specific number of shares; the Board may suspend, modify, or terminate it at any time.

Why It Matters
A board-authorized buyback gives the company flexibility to return capital to shareholders and can reduce share count if executed, which may affect per‑share metrics. Because repurchases are subject to capital, liquidity and regulatory considerations and will only occur as management deems appropriate, investors should monitor actual buyback activity, the use of 10b5-1 plans, and any impacts on capital ratios or earnings-per-share in future disclosures.