Empowering Municipalities & Public Entities

Pictured left to right is Micheal P. Puorro, Chairman & CEO, Hanover Bank, Angie Carpenter, Islip Town Hall Supervisor, Joseph Galante, Assistant Comptroller, State of New York and Michael Locorriere, EVP, Chief Municipal Officer, Hanover Bank
Not all banks have the same capabilities when it comes to serving governmental bodies, and public entities such as counties, towns, cities, villages, schools and special districts, or public benefit corporations.
Our community orientated, relationship officers have years of experience creating customized banking solutions that meet local regulatory requirements for our municipal and public entity clients.

All municipal deposits at Hanover Bank are fully collateralized and secured based on New York State General Municipal Law, by one of the following options:

  • Third Party Collateral
  • Municipal Letters of Credit Issued by the Federal Home Loan Bank of New York
  • Reciprocal Deposit Program offered by IntraFi®  
We provide extremely competitive interest rates for various funds including investment and money market accounts. 
In addition, Hanover Bank also offers cutting-edge cash management services, including online banking, wires, ACH, remote deposit capture, and positive pay fraud protection. 

Disclaimer:
All Hanover Bank deposit accounts are subject to our account Terms and Conditions Agreement. 
All account services might not be available on all accounts. Services are subject to separate service agreements. Fees apply for some services. Ask for our fee schedule. 
This is not an offer of credit. All lending products require an application. All applications are subject to the Bank’s normal underwriting procedures, requirements, and credit approval process. Terms and Conditions apply. 

All municipal deposits at Hanover Bank are fully collateralized and secured based on New York State General Municipal Law, by one of the following options1-3:

Third party
collateral

Municipal letters of credit issued by the Federal Home Loan Bank of New York

Reciprocal Deposit Program offered by IntraFi® 

We provide extremely competitive interest rates for various funds, including investment and money market accounts. 

In addition, Hanover Bank also offers cutting-edge cash management services, including online banking, wires, ACH, remote deposit capture, and positive pay fraud protection.

Disclaimer:
1All Hanover Bank deposit accounts are subject to our account Terms and Conditions Agreement. 
2All account services might not be available on all accounts. Services are subject to separate service agreements. Fees apply for some services. Ask for our fee schedule. 
3This is not an offer of credit. All lending products require an application. All applications are subject to the Bank’s normal underwriting procedures, requirements, and credit approval process. Terms and Conditions apply. 

Elevate your community’s financial goals.

Our Municipal Banking specialists are here to help you manage public funds efficiently.