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HNVR on Nasdaq

Hanover Bancorp, Inc. /MD

American state commercial bank that raised $35 million in 2026 (SEC Form D)1

In its 2026 annual report the company says: “Hanover Bancorp, Inc., a Maryland corporation, is the holding company for Hanover Community Bank, a New York chartered community commercial bank focusing on highly personalized and efficient services and products responsive to local needs.”3 It is headquartered in Mineola, New York.1 Its shares trade on Nasdaq under the symbol HNVR.1

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Last updated Oct 21, 2026.

Overview

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  • TickerHNVR on Nasdaq1
  • IndustryState Commercial Banks1
  • HeadquartersMineola, New York1
  • Incorporated inMD2
  • Business address80 East Jericho Turnpike, Mineola, Ny 115012
  • Filer category, Emerging growth company2
  • Legal formCorporation

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Hanover Bancorp, Inc., a Maryland corporation (the “Company”), is the holding company for Hanover Community Bank (the “Bank”), a New York chartered community commercial bank focusing on highly personalized and efficient services and products responsive to local needs. On June 25, 2025, the Company completed its reincorporation from New York to Maryland. The Bank operates as a locally headquartered, community-oriented bank serving customers throughout the New York metro area from offices in Nassau, Suffolk, Queens, Kings (Brooklyn) and New York (Manhattan) Counties, New York, and Freehold, Monmouth County, New Jersey. We opened the Bank’s Hauppauge Business Banking Center in Hauppauge, Suffolk County, New York in May 2023. In June 2025, we opened a full-service branch in Port Jefferson, Suffolk County, New York. As of December 31, 2025, we had total assets of $2.38 billion, total loans of…3 From its latest annual report

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

What sells

Revenue by product, business segment and region, as the company reports it to the SEC.

Products and services

Service charges on deposit accounts brought in 95% of the revenue Hanover Bancorp, Inc. /MD broke down this way in fiscal 2025.

  1. Service charges on deposit accounts$750.0K495%up 60% from 2024
  2. Merchant Card Processing Fees$38.0K45%down 21% from 2024
Products and services by year
Products and services20242025
Service charges on deposit accounts$469.0K$750.0K
Merchant Card Processing Fees$48.0K$38.0K

Financial statements

Net income56784$7.5M in 2025+51% since 2020
0$10.0M$20.0M$30.0M2020: $5.0M$5.0M20202021: $10.9M$10.9M2021+118%2022: $23.6M$23.6M2022+117%2023: $15.2M$15.2M2023−36%2024: $12.3M$12.3M2024−19%2025: $7.5M$7.5M2025−39%

Every line of the income statement as filed: the last 2 fiscal years, latest first.4

Period ending2025-12-312024-12-31
Loans$119.7M$123.0M
Taxable securities$5.7M$6.0M
Other interest income$5.1M$4.1M
Total interest income$130.5M$133.0M
Savings, NOW and money market deposits$43.2M$51.5M
Time deposits$20.6M$21.1M
Borrowings$6.2M$7.4M
Total interest expense$70.0M$79.9M
Net interest income$60.5M$53.1M
Provision for credit losses$10.4M$4.9M
Net interest income after provision for credit losses$50.1M$48.2M
Total non-interest income$12.8M$15.3M
Salaries and employee benefits$27.9M$25.6M
Occupancy and equipment$7.7M$7.2M
Data processing$1.8M$2.1M
Professional fees$3.1M$3.1M
Federal deposit insurance premiums$1.4M$1.4M
Conversion expenses$3.2M
Other expenses$7.9M$7.7M
Total non-interest expense$53.0M$47.1M
Income before income tax expense$10.0M$16.4M
Income tax expense$2.5M$4.0M
NET INCOME$7.5M$12.3M
BASIC (in dollars per share)$1.01$1.67
DILUTED (in dollars per share)$1.00$1.66

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Corporate structure

Hanover Bancorp, Inc. /MD sits at the top of its group. 1 entity, 1 country on record. Switch between the flow chart and the network, and select any entity to see its details.

Major holders of Hanover Bancorp, Inc. /MD

  • Fourthstone LLC Filed SCHEDULE 13G/A on Hanover Bancorp, Inc. /MD, latest Aug 14, 2026 (3 filings since Nov 14, 2025)
  • AllianceBernstein Filed SCHEDULE 13G/A on Hanover Bancorp, Inc. /MD, latest May 18, 2026 (7 filings since Feb 14, 2023)
  • Castle Creek Capital Partners VIII, LP Filed SC 13D on Hanover Bancorp, Inc. /MD, latest Aug 26, 2024 (3 filings since May 20, 2022)
  • Aurum Holdings Inc Filed SC 13G on Hanover Bancorp, Inc. /MD, latest Feb 10, 2023
  • Robert Golden Filed SC 13G on Hanover Bancorp, Inc. /MD, latest Jan 31, 2023
  • Hanover Bancorp, Inc. /MD Mineola, New York

Built from major holders from Schedules 13D and 13G. Each entity in the chart links to its source.

What it owns

What Hanover Bancorp, Inc. /MD reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.

Property and equipment

ItemLatestA year beforeChange
Property and equipment, before depreciation$25.8M4 Dec 31, 2025$25.4M4 Dec 31, 2024+1.3%
Accumulated depreciation$11.4M4 Dec 31, 2025$10.1M4 Dec 31, 2024+13.5%
Property and equipment, net$14.3M4 Dec 31, 2025$15.3M4 Dec 31, 2024−6.7%
Operating-lease assets (leased space)$9.9M4 Dec 31, 2025$8.3M4 Dec 31, 2024+18.2%

Investments

ItemLatestA year beforeChange
Cash and cash equivalents$208.9M4 Dec 31, 2025$162.9M4 Dec 31, 2024+28.3%
Loans, net of allowance$2.0B4 Dec 31, 2025$2.0B4 Dec 31, 2024+1.0%
Deposits held (banks)$2.0B4 Dec 31, 2025$2.0B4 Dec 31, 2024+3.8%

Intangibles and goodwill

ItemLatestA year beforeChange
Goodwill$19.2M4 Dec 31, 2025$19.2M4 Dec 31, 20240%
Finite-lived intangibles, net$196.0K4 Dec 31, 2025$250.0K8 Dec 31, 2024−21.6%

Properties, in its own words

The Bank owns its administrative headquarters and its Garden City Park branch and leases eight other branch locations. Our banking offices are located in Kings, Nassau, Suffolk, New York and Queens Counties in New York and in Monmouth County in New Jersey. Set forth below is certain information about the Bank’s offices:

● · Headquarters and Mineola Branch — 80 East Jericho Turnpike, Mineola, New York — this building has a branch on the first floor and the Company’s corporate and administrative offices on the second and third floors and was opened in 2017.

The rest of Item 2

● · Garden City Park Branch — 2131 Jericho Turnpike, Garden City Park, New York — this one-story building houses the Bank’s original branch as well as its Residential Banking Team and was opened in 2009.

● · Flushing Branch — 138-29 39th Avenue, Flushing, New York — this is a ground floor branch opened in 2019.

● · Forest Hills Branch — 71-15 Austin Street, Forest Hills, New York — this is a ground floor branch opened in 2017.

● · Sunset Park Branch — 5512 8th Avenue, Brooklyn, New York — this three-story building has a branch on the ground floor and administrative offices on the second and third floors and was acquired as part of the Chinatown Federal Savings Bank acquisition in 2019.

● · Bowery Branch — 109 Bowery, New York, New York — this three-story building has a branch on the ground floor and administrative offices on the second and third floors and was acquired as part of the Chinatown Federal Savings Bank acquisition in 2019.

● · Rockefeller Center Branch — 600 5th Avenue, New York, New York — this is a branch located on the 17th floor of a 26-floor commercial building and was acquired as part of the Savoy acquisition in 2021.

● · Freehold Branch — 4400 Route 9, Freehold, NJ — this branch and administrative office is located on the second floor of three-story commercial office building and was opened in 2022.

● · Hauppauge Branch — 410 Motor Parkway, Hauppauge, New York — this branch is located on the third floor and has administrative offices on the third and fourth floor of a commercial office building and was opened in May 2023.

● · Port Jefferson Branch — 1 North Country Road, Port Jefferson, New York — this is a ground floor branch opened in June 2025.

Item 2 of the 10-K filed Mar 13, 2026.3

Leadership

Who has led Hanover Bancorp, Inc. /MD, and when. Pick a name to see everywhere that person has worked.

Chief executive

  1. Michael P. Puorro2022–now

Chair

  1. Michael P. Puorro2022–now

President

  1. Brian K. Finneran2022
  2. McClelland W. Wilcox2023–now

Chief financial officer

  1. Lance P. Burke2022–now
2025
Board members and other officers (15)

Named in SEC Form D filings

People the company listed in its private-offering notices.

  • EVP & Chief Credit OfficerKevin F. Corbett named Mar 26, 202630
  • DirectorRobert W. Golden named Mar 26, 202630

Former names

  • Hanover Bancorp, Inc. /NYOct 16, 2020 to Sep 4, 20252

Timeline

  1. Sep 10, 20268-K Regulation FD disclosure31
  2. Aug 26, 20268-K Other events32
  3. Jul 23, 20268-K Results of operations33
  4. Jul 20, 20268-K Executive or director change34
  5. Jun 4, 20268-K Regulation FD disclosure35
  6. Jun 1, 20268-K Executive or director change; Shareholder vote36
  7. Apr 27, 20268-K Results of operations37
  8. Mar 12, 20268-K Entered a material agreement; New debt or obligation; Regulation FD disclosure38
  9. Feb 19, 20268-K Executive or director change39
  10. Jan 29, 20268-K Results of operations40
  11. Nov 12, 20258-K Regulation FD disclosure41
  12. Oct 30, 20258-K Results of operations42
  13. May 10, 2022New chief executive Michael P. Puorro becomes CEO11

Calendar

Coming up

  1. Oct 29, 2026Reports results for the quarter ending Sep/2026 A year earlier it reported $0.47 a share, on Oct 30, 2025.43

When it reported results

  1. Jul 23, 2026Reported quarterly or annual results33
  2. Apr 27, 2026Reported quarterly or annual results37
  3. Jan 29, 2026Reported quarterly or annual results40
  4. Oct 30, 2025Reported quarterly or annual results42
  5. Jul 23, 2025Reported quarterly or annual results44
  6. Apr 23, 2025Reported quarterly or annual results45
  7. Jan 29, 2025Reported quarterly or annual results46
  8. Oct 23, 2024Reported quarterly or annual results47

Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar

Filings

294 filings to the SEC since October 2021: 6 annual reports, 15 quarterly reports, 54 major events, 171 insider forms, 15 large holders, 1 private raises, 32 other. The latest 20:

  1. Sep 10, 20268-K EDGAR
  2. Sep 3, 20264 EDGAR
  3. Aug 26, 20268-K EDGAR
  4. Aug 14, 2026SCHEDULE 13G/A EDGAR
  5. Aug 7, 202610-Q EDGAR
  6. Aug 3, 20264 EDGAR
  7. Aug 3, 20263 EDGAR
  8. Jul 23, 20268-K EDGAR
  9. Jul 20, 20268-K EDGAR
  10. Jun 29, 2026S-8 EDGAR
  11. Jun 18, 2026EFFECT EDGAR
  12. Jun 18, 2026424B3 EDGAR
  13. Jun 16, 20264 EDGAR
  14. Jun 12, 20264 EDGAR
  15. Jun 4, 20264 EDGAR
  16. Jun 4, 2026S-4 EDGAR
  17. Jun 4, 20268-K EDGAR
  18. Jun 2, 20264 EDGAR
  19. Jun 1, 20268-K EDGAR
  20. May 29, 20264 EDGAR

The 294 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Insider trades

67 open-market trades by officers, directors and large owners since October 2021: 42 buys and 25 sales. Grants, option exercises and gifts are left out.

DateWhoTradeSharesPriceValueFiling
Jul 30, 2026O'Connor Kevin MPresidentBuy10,000$26.88$268.8KForm 4
Jun 15, 2026Golden RobertDirectorSale661$24.21$16.0KForm 4
Jun 12, 2026Golden RobertDirectorSale3,763$24.02$90.4KForm 4
Jun 10, 2026Golden RobertDirectorSale8,419$24.20$203.7KForm 4
Jun 2, 2026Golden RobertDirectorSale1,847$23.10$42.7KForm 4
May 29, 2026Golden RobertDirectorSale1,514$23.71$35.9KForm 4
May 27, 2026Golden RobertDirectorSale1,295$23.53$30.5KForm 4
May 20, 2026Golden RobertDirectorSale1,012$23.01$23.3KForm 4
May 19, 2026Golden RobertDirectorSale2,259$22.79$51.5KForm 4
Feb 6, 2026Golden RobertDirectorSale700$23.60$16.5KForm 4
Feb 5, 2026Golden RobertDirectorSale500$23.50$11.8KForm 4
Nov 4, 2025Golden RobertDirectorSale5,000$21.25$106.2KForm 4
May 9, 2025Golden RobertDirectorSale10,000$23.07$230.8KForm 4
May 8, 2025Golden RobertDirectorSale6,829$23.05$157.4KForm 4
May 6, 2025Golden RobertDirectorSale1,708$23.04$39.4KForm 4
May 5, 2025Golden RobertDirectorSale323$23.40$7.6KForm 4
May 2, 2025Golden RobertDirectorSale5,000$23.42$117.1KForm 4
Feb 7, 2025Golden RobertDirectorSale2,601$26.06$67.8KForm 4
Feb 6, 2025Golden RobertDirectorSale2,596$26.62$69.1KForm 4
Feb 5, 2025Golden RobertDirectorSale2,761$26.61$73.5KForm 4

All 67 trades can be filtered by person here when JavaScript is on.

From Forms 4 filed with the SEC.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

Executive pay

What the company paid its top executives, from the summary compensation table in its proxy statement. Total pay includes salary, bonus, stock and option awards and other pay, as the company valued them.

YearExecutiveAgeSalaryTotal pay
2025Michael P. Puorro$716.0K$1.5M53
2025McClelland Wilcox$575.0K$887.2K53
2025Joseph F. Burns$406.9K$575.9K53
2024ChairmanPresident and Chief Executive$682.0K$1.3M53
2024Former President$550.0K$929.1K53
2024Executive VicePresident and$395.0K$556.3K53
2023Officer$625.0K$1.1M53
2023Former President$525.0K$794.1K53
2023Chief Lending Officer$40.4K$282.8K53

Funding

Where the company's money came from, by calendar year: private offerings filed with the SEC, federal grants, loans, contracts and other assistance from USAspending.gov, and PPP loans from the SBA. Each bar links to the records below.

Money received by year$35.0M 2026–2026
Money received by yearMoney received by year, 2026–2026: $35.0M in all. Private raises (Form D) $35.0M.$0$10M$20M$30M$40M2026 · Private raises (Form D): $35.0M2026
Figures by year
YearPrivate raises (Form D)Total
2026$35.0M$35.0M

Private raises

Private offerings the company reported to the SEC on Form D. The amount is what the latest filing says was sold so far, charted in the year of the first sale. Covers filings since Oct 1, 2021.

  1. Mar 12, 2026Raised $35 million in a private offering of debt30 Form D: 17 investors so far Form D

Held by these funds

The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 68. Change is in shares since the quarter before.

FundSharesValueShare of the fundChange
BlackRock, Inc.283,884$6.6M0.0%+56,688
Alliancebernstein L.P.258,288$5.6M0.0%−59,094
Vanguard Capital Management LLC221,970$5.2M0.0%−33,431
Fourthstone LLC144,216$3.4M2.4%−377,435
Susquehanna International Group, Llp129,751$3.0M0.0%New
Geode Capital Management, LLC106,163$2.5M0.0%+17,453
State Street Corp72,779$1.7M0.0%+33,912
Dimensional Fund Advisors LP43,995$1.0M0.0%+12,352
Corient Private Wealth LP42,450$989.9K0.0%+211
Goldman Sachs Group Inc37,311$870.1K0.0%+4,193
Northern Trust Corp33,608$783.7K0.0%−5,083
Aqr Capital Management LLC31,393$732.1K0.0%New
Renaissance Technologies LLC30,800$718.3K0.0%New
Vanguard Fiduciary Trust Co30,325$707.2K0.0%+1,166
Vanguard Portfolio Management LLC30,002$699.6K0.0%+3,492
Bridgeway Capital Management, LLC27,624$644.2K0.0%No change
Strs Ohio27,000$629.6K0.0%+13,000
Gabelli Funds LLC25,000$583.0K0.0%No change
Two Sigma Investments, LP24,809$578.5K0.0%New
Citadel Advisors LLC20,458$477.1K0.0%New
Wealthspire Advisors, LLC18,791$438.2K0.0%New
Nuveen, LLC13,750$320.6K0.0%New
Teton Advisors, LLC13,500$314.8K0.2%No change
Charles Schwab Investment Management Inc13,006$303.3K0.0%No change
Trexquant Investment LP12,988$302.9K0.0%New

13F reports cover disclosed long positions in U.S. stocks only.

SEC filer profile

How Hanover Bancorp, Inc. /MD is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGARHanover Bancorp, Inc. /MD1
  • CIK0001828588
  • Employer ID (EIN)81-33244803
  • Filer statusAccelerated filer an emerging growth company; a smaller reporting company; not a shell company3
  • Incorporated inMaryland3
  • Fiscal year endsDecember 311
  • Industry code (SIC)6022 State Commercial Banks1
  • SEC reviewing officeOffice of Finance, Division of Corporation Finance1
  • Business address80 East Jericho Turnpike, Mineola, NY 115011
  • Phone516.548.85001
  • Shares outstanding7,055,424 as of Jul 31, 202610
  • Public float$130.9M as of Jun 30, 20253
  • AuditorCrowe LLP, Livingston, New Jersey PCAOB ID 173; no auditor attestation of internal control over financial reporting3
  • On EDGAR sinceOct 16, 20201
  • Filings312 in all: 4 (148), 8-K (58), 3 (21), 10-Q (16), CORRESP (7), SCHEDULE 13G/A (6), 10-K (5), 144 (5)1
    All 35 form types

    DEF 14A (4), EFFECT (4), SC 13G (4), UPLOAD (4), S-8 (3), D (2), S-4 (2), S-4/A (2), SC 13G/A (2), SCHEDULE 13G (2), 10-K/A (1), 10-QT (1), 3/A (1), 4/A (1), 424B3 (1), 424B4 (1), 8-A12B (1), CERT (1), DRS (1), FWP (1), NT 10-Q (1), PRE 14A (1), S-1 (1), S-1/A (1), S-3 (1), S-3/A (1), SC 13D (1)

  • Latest filingsAnnual report (10-K) Mar 13, 2026
    Quarterly report (10-Q) Aug 7, 2026
    Proxy statement (DEF 14A) Apr 23, 2026
    Latest 8-K (8-K) Sep 10, 2026

Securities registered for trading

ClassSymbolExchange
Common stockHNVRNASDAQ

From the cover page of the 10-K filed Mar 13, 2026 (Section 12(b) of the Exchange Act).3

Risk factors and legal proceedings

The risks Hanover Bancorp, Inc. /MD names in Item 1A of its 10-K filed Mar 13, 2026: 57 risks under these headings, as written.3

  • ECONOMIC, MARKET AND INVESTMENT RISKS
  • Inflationary pressures and rising prices may affect our results of operations and financial condition.
  • If we are unable to adequately manage our liquidity, deposits, capital levels and interest rate risk, we may experience a material adverse effect on our financial condition and results of operations.
  • A substantial portion of our business is in the New York metro area; therefore, our business is particularly vulnerable to an economic downturn in our primary market area.
  • The performance of our New York multifamily real estate loans could be adversely impacted by regulation.
  • We have a significant number of loans secured by real estate, and a downturn in the local real estate market could negatively impact our profitability.
  • Appraisals and other valuation techniques we use in evaluating and monitoring loans secured by real property, other real estate owned and repossessed personal property may not accurately describe the net value of the asset.
  • We engage in lending secured by real estate and may be forced to foreclose on the collateral and own the underlying real estate, subjecting us to the costs and potential risks associated with the ownership of the real property, or consumer protection initiatives or changes in state or federal law may substantially raise the cost of foreclosure or prevent us from foreclosing at all.
  • Other aspects of our business may be adversely affected by unfavorable economic, market, and political conditions.
  • LENDING ACTIVITIES RISKS
  • Small Business Administration lending is an increasingly important part of our business. Our SBA lending program is dependent upon the U.S. federal government, and we face specific risks associated with originating SBA loans.
  • The non-guaranteed portion of SBA loans that we retain on our balance sheet as well as the guaranteed portion of SBA loans that we sell could expose us to various credit and default risks.
The other 47 risks
  • We have expanded the geographic scope of our SBA, and other government guaranteed lending, and this may expose us to greater and additional risks than lending in our primary trade area.
  • The recognition of gains on the sale of loans and servicing asset valuations reflect certain assumptions.
  • Imposition of limits by bank regulators on commercial real estate lending activities could curtail our growth and adversely affect our earnings.
  • The residential mortgage loans that we originate consist primarily of non-conforming residential mortgage loans which may be considered less liquid and riskier.
  • Interest rate shifts may reduce net interest income and otherwise negatively impact our financial condition and results of operations.
  • CREDIT RISKS
  • We may not be able to measure and limit our credit risk adequately, which could lead to unexpected losses.
  • Our emphasis on one- to four- family residential mortgage loans involves risks that could adversely affect our financial condition and results of operations.
  • Our niche lending products may expose us to greater risk than traditional lending products.
  • The small- to medium-sized businesses that we lend to may have fewer resources to weather adverse business developments, which may impair our borrowers’ ability to repay loans.
  • Our allowance for credit losses may not be adequate to cover actual losses.
  • If our non-performing assets increase, our earnings will be adversely affected.
  • We are dependent on the use of data and modeling in our management’s decision-making, and faulty data or modeling approaches could negatively impact our decision-making ability or possibly subject us to regulatory scrutiny in the future.
  • LIQUIDITY RISKS
  • If we do not manage our liquidity effectively, our business could suffer.
  • Our growth strategy may require us to raise additional capital in the future to fund such growth, and the unavailability of additional capital on terms acceptable to us could adversely affect us or our growth.
  • Municipal deposits are an important source of funds for us and a reduced level of such deposits may hurt our profits.
  • STRATEGIC RISKS
  • If we do not effectively execute our strategic plans, we will not achieve our growth objectives and our business and results of operations may be negatively affected.
  • Any failure by us to manage acquisitions and other significant transactions successfully may have a material adverse effect on our results of operations, financial condition, and cash flows.
  • We have grown and may continue to grow through acquisitions.
  • Attractive acquisition opportunities may not be available to us in the future.
  • COMPETITION RISKS
  • Competition in originating loans and attracting deposits may adversely affect our profitability.
  • We need to invest in innovation, and the inability or failure to do so may affect our business and earnings negatively.
  • KEY PERSONNEL RISKS
  • We rely heavily on our executive management team and other key personnel for our successful operation, and we could be adversely affected by the unexpected loss of their services.
  • If we are not able to attract, retain and motivate other key personnel, our business could be negatively affected.
  • REGULATORY AND COMPLIANCE RISKS
  • We operate in a highly regulated environment and the laws and regulations that govern our operations, corporate governance, executive compensation and accounting principles, or changes in them, or our failure to comply with them, could adversely affect us and our future growth.
  • Federal and State banking agencies periodically conduct examinations of our business, including compliance with laws and regulations, and our failure to comply with any supervisory actions to which we are or become subject as a result of such examinations could adversely affect us.
  • Legislative and regulatory actions taken now or in the future may increase our costs and impact our business, governance structure, financial condition or results of operations.
  • Increases in FDIC insurance premiums could adversely affect our earnings and results of operations.
  • Changes in tax laws and regulations, or changes in the interpretation of existing tax laws and regulations, may have a material adverse effect on our business, financial condition, results of operations and growth prospects.
  • Failure to comply with stringent capital requirements could result in regulatory criticism, requirements and restrictions.
  • Financial institutions, such as the Bank, face a risk of noncompliance and enforcement action with the Bank Secrecy Act and other anti-money laundering statutes and regulations.
  • We are subject to numerous laws and regulations of certain regulatory agencies, such as the Consumer Financial Protection Bureau, including the Community Reinvestment Act and fair lending laws, and failure to comply with these laws could lead to a wide variety of sanctions.
  • The FRB may require us to commit capital resources to support the Bank, and we may not have sufficient access to such capital resources.
  • Our deposit services for businesses in the state licensed cannabis industry could expose us to liabilities and regulatory compliance costs.
  • TECHNOLOGY RISKS
  • Cyber-attacks or other security breaches could adversely affect our operations, net income or reputation.
  • We have a continuing need for technological change, and we may not have the resources to implement new technology effectively, or we may experience operational challenges when implementing new technology or technology needed to compete effectively with larger institutions may not be available to us on a cost-effective basis.
  • OPERATIONAL RISKS
  • Many types of operational risks can affect our earnings negatively.
  • Our ability to maintain our reputation is critical to the success of our business and the failure to do so may materially adversely affect our performance.
  • We are subject to certain operational risks, including, but not limited to, customer, employee or third-party fraud and data processing system failures and errors.
  • We may be subject to environmental liabilities in connection with the real properties we own and the foreclosure on real estate assets securing our loan portfolio.
  • Our operations could be interrupted if our third-party service providers experience difficulty, terminate their services or fail to comply with banking regulations.
  • Pandemics, natural disasters, global climate change, acts of terrorism and global conflicts may have a negative impact on our business and operations.
  • Legal and regulatory proceedings and related matters could adversely affect us.
  • Societal responses to climate change could adversely affect our business and performance, including indirectly through impacts on our customers.
  • COMMON STOCK AND TRADING RISKS
  • The price of our common stock could be volatile.
  • The holders of our existing and future debt obligations will have priority over our common stock with respect to payment in the event of liquidation, dissolution or winding up and with respect to the payment of interest.
  • Our dividend policy may change without notice and our future ability to pay dividends is subject to restrictions.
  • The inability to receive dividends from our subsidiary bank could impact our ability to maintain or increase the current level of cash dividends we pay to our stockholders.

Legal proceedings

From time to time we are party to various litigation matters incidental to the conduct of our business. At December 31, 2025, we are not party to any such legal proceeding the resolution of which we believe would have a material adverse effect on our business, financial condition or results of operations.

The opening of Item 3, Legal Proceedings.3

Sources

The numbers on this page point here. Each one links to the record it came from.

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  18. 18
  19. 19
  20. 20
  21. 21
  22. 22
  23. 23
  24. 24
  25. 25
  26. 26
  27. 27
  28. 28
  29. 29
  30. 30
  31. 31
  32. 32
    SEC EDGAROther events
  33. 33
  34. 34
  35. 35
  36. 36
  37. 37
  38. 38
  39. 39
  40. 40
  41. 41
  42. 42
  43. 43
  44. 44
  45. 45
  46. 46
  47. 47
  48. 48
  49. 49
  50. 50
  51. 51
  52. 52
  53. 53