Hanover Bancorp, Inc. Announces Small Business Recovery Grants to Local Non-Profit Organizations

Mineola, NY – August 2, 2024 - Michael P. Puorro, Chairman and Chief Executive Officer
of Hanover Bancorp, Inc. the bank holding company for Hanover Community Bank, today
announced grants to seventeen local not-for-profit organizations as a part of the Federal
Home Loan Bank of New York’s (FHLBNY) Small Business Recovery Grant Program.

Mr. Puorro stated “These organizations are the very heartbeat of the communities we serve,
and we are thrilled that this money will help them in fulfilling their mission. We are
simultaneously so grateful to the Federal Home Loan Bank of New York and their Small
Business Recovery Grant Program for providing these much-needed funds to so many not for-
profit entities that have been adversely affected by the current economic environment.”

The Small Business Recovery Grant Program provides flexible funds to benefit small businesses
and non-profits located in FHLBNY members’ communities. This program
supports the financial security of qualifying organizations that face economic challenges due
to the rate environment, inflation, supply-chain constraints, and/or rising energy costs by
partnering with members to provide grants.

Hanover Bank has participated in this FHLBNY program in the past and we are so grateful to
be partnering with them once again to provide these truly needed funds to seventeen
worthwhile entities. “We are so proud to support these incredible organizations not only
through this grant program but by having many of our team members give their time, talent
and energy to these worthy causes,” concluded Michael P. Puorro.

About Hanover Community Bank and Hanover Bancorp, Inc.

Hanover Bancorp, Inc. (NASDAQ: HNVR), is the bank holding company for Hanover
Community Bank, a commercial community bank focusing on highly personalized and
efficient services and products responsive to client needs. Management and the Board of
Directors are comprised of a select group of successful local businesspeople committed to
the success of the Bank by knowing and understanding the metro-New York area’s financial
needs and opportunities. Backed by state-of-the-art technology, Hanover offers a full range
of financial services. Hanover employs a complete suite of consumer, commercial, and
municipal banking products, and services, including multi-family and commercial mortgages,
residential loans, business loans and lines of credit. Hanover also offers its customers access
to 24-hour ATM service with no fees attached, free checking with interest, telephone banking,
advanced technologies in mobile and internet banking for our consumer and business
customers, safe deposit boxes and much more. The Company’s corporate administrative
office is in Mineola, New York where it also operates a full-service branch office along with
additional branch locations in Garden City Park, Hauppauge, Forest Hills, Flushing, Sunset
Park, Rockefeller Center and Chinatown, New York and Freehold, New Jersey.

Hanover Community Bank is a member of the Federal Deposit Insurance Corporation and is
an Equal Housing/Equal Opportunity Lender. For further information, call (516) 548-8500 or
visit the Bank’s website at https://hanoverbank.com.