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New York bank Hanover Bancorp prices IPO at $21, the low end of the range

May 10, 2022

Hanover Bancorp, a community bank with eight branches in New York and New Jersey, raised $27 million by offering 1.3 million shares at $21, the low end of the range of $21 to $23. The company downsized its offering slightly, selling 6.5% fewer shares than expected.

The Mineola, NY-based company plans to list on the Nasdaq under the symbol HNVR. Stephens Inc. and Piper Sandler acted as joint bookrunners on the deal.