MINEOLA, N.Y., Feb. 25, 2020 (GLOBE NEWSWIRE) -- Hanover Bancorp, Inc. (“Hanover”), the holding company for Hanover Community Bank (the “Company” or “Bank”), today announced that, based on the preliminary vote count provided by the independent inspector of elections, Hanover shareholders have voted to approve both of the Company’s proposals at Hanover’s Annual Meeting of Shareholders (the “2020 Annual Meeting”) held on February 21, 2020.
At the 2020 Annual Meeting, shareholders approved:
- The re-election of Dr. Michael Katz, Mr. Philip Okun, and Mr. John Sorrenti to the Board of Directors, each to serve for a term of three years; and
- The removal of Mr. John Sapanski from the Board.
Michael P. Puorro, Chairman and Chief Executive Officer, said: “On behalf of the Board and management team, I want to personally thank all of our shareholders. We are pleased with the overwhelming support we received at the 2020 Annual Meeting and appreciate the feedback from our shareholders. Hanover has a clear directive, which is to keep the Company on course for an initial public offering. With the 2020 Annual Meeting behind us, the Board and management can return our focus to this important goal. We are committed to putting Hanover in the best possible position to successfully access the capital markets by growing the Company’s assets, loans and deposits. We are excited about what awaits Hanover and we are confident in our ability to enhance value for all shareholders.”
Based on the preliminary results provided by the inspector of elections, the re-election of Hanover’s director nominees was approved by approximately 84% of the votes cast at the 2020 Annual Meeting. The removal of Mr. Sapanski was approved by approximately 88% of votes cast. Hanover will announce final tabulations of the voting results after they are certified by the Company’s independent inspector of elections.
About Hanover Community Bank and Hanover Bancorp, Inc.
Hanover Bancorp, Inc. is a locally owned and operated privately held stock bank holding company for Hanover Community Bank, a community commercial bank focusing on highly personalized and efficient services and products responsive to local needs. Management and the Board of Directors are comprised of a select group of successful local businessmen and women who are 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 and commercial 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. Hanover’s corporate administrative office is located in Mineola, New York where it also operates a full service branch office along with additional branch locations in Garden City Park, Forest Hills, Flushing, Sunset Park, and Chinatown, New York.
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 www.hanoverbank.com.
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