$HNVR
Hanover Bancorp, Inc. /NY

2023 Q1 Form 10-Q Financial Statement

#000155837023001188 Filed on February 13, 2023

View on sec.gov

Income Statement

Concept 2023 Q1 2022 Q4 2021 Q4
Revenue $25.06M $22.57M $16.62M
YoY Change 57.2% 35.84% 74.96%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin
YoY Change
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization -$413.0K $128.0K
YoY Change -193.23%
% of Gross Profit
Operating Expenses
YoY Change
Operating Profit
YoY Change
Interest Expense $11.14M $7.308M $1.347M
YoY Change 830.33% 442.54% -37.93%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income $4.181M $6.904M $8.480M
YoY Change -44.69% -18.58% 340.98%
Income Tax $972.0K $1.566M $1.943M
% Of Pretax Income 23.25% 22.68% 22.91%
Net Earnings $3.209M $5.338M $6.537M
YoY Change -45.24% -18.34% 330.35%
Net Earnings / Revenue 12.81% 23.65% 39.34%
Basic Earnings Per Share $0.44 $0.73 $1.18
Diluted Earnings Per Share $0.45 $0.72 $1.16
COMMON SHARES
Basic Shares Outstanding 7.188M 7.149M 5.563M
Diluted Shares Outstanding 7.103M 7.104M 5.658M

Balance Sheet

Concept 2023 Q1 2022 Q4 2021 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments
YoY Change
Cash & Equivalents $204.4M $152.3M $115.0M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets
YoY Change
LONG-TERM ASSETS
Property, Plant & Equipment $15.69M $14.89M $14.90M
YoY Change 5.79% -0.06%
Goodwill $19.17M $19.17M
YoY Change 0.0%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $7.258M
YoY Change
Total Long-Term Assets
YoY Change
TOTAL ASSETS
Total Short-Term Assets
Total Long-Term Assets
Total Assets $2.072B $1.984B $1.458B
YoY Change 40.3% 36.04%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $879.0K
YoY Change
Accrued Expenses $11.71M $12.06M
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $137.0M $238.3M
YoY Change 80.63%
Long-Term Debt Due $24.59M $24.58M $24.50M
YoY Change 0.22% 0.31%
Total Short-Term Liabilities $36.31M $36.64M $25.38M
YoY Change 42.26% 44.36%
LONG-TERM LIABILITIES
Long-Term Debt $0.00
YoY Change
Other Long-Term Liabilities $10.66M $13.50M $13.39M
YoY Change 3.2% 0.78%
Total Long-Term Liabilities $10.66M $13.50M $13.39M
YoY Change 3.2% 0.78%
TOTAL LIABILITIES
Total Short-Term Liabilities $36.31M $36.64M $25.38M
Total Long-Term Liabilities $10.66M $13.50M $13.39M
Total Liabilities $1.891B $1.806B $1.329B
YoY Change 40.93% 35.92%
SHAREHOLDERS EQUITY
Retained Earnings $53.55M $51.07M
YoY Change 45.58%
Common Stock $125.0M $124.3M
YoY Change 27.48%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $180.5M $177.6M $129.4M
YoY Change
Total Liabilities & Shareholders Equity $2.072B $1.984B $1.458B
YoY Change 40.3% 36.04%

Cashflow Statement

Concept 2023 Q1 2022 Q4 2021 Q4
OPERATING ACTIVITIES
Net Income $3.209M $5.338M $6.537M
YoY Change -45.24% -18.34% 330.35%
Depreciation, Depletion And Amortization -$413.0K $128.0K
YoY Change -193.23%
Cash From Operating Activities -$9.715M $6.075M $5.270M
YoY Change -399.2% 15.28%
INVESTING ACTIVITIES
Capital Expenditures $1.150M $845.0K -$83.00K
YoY Change -419.44% -1118.07%
Acquisitions
YoY Change
Other Investing Activities -$5.748M -$16.80M
YoY Change -11.46%
Cash From Investing Activities -$6.898M -$129.4M -$16.89M
YoY Change 0.67% 666.03%
FINANCING ACTIVITIES
Cash Dividend Paid $734.0K $729.0K
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 103.6M 125.6M -44.45M
YoY Change 555.89% -382.64%
NET CHANGE
Cash From Operating Activities -9.715M 6.075M 5.270M
Cash From Investing Activities -6.898M -129.4M -16.89M
Cash From Financing Activities 103.6M 125.6M -44.45M
Net Change In Cash 86.98M 2.351M -56.07M
YoY Change 613.58% -104.19%
FREE CASH FLOW
Cash From Operating Activities -$9.715M $6.075M $5.270M
Capital Expenditures $1.150M $845.0K -$83.00K
Free Cash Flow -$10.87M $5.230M $5.353M
YoY Change -401.22% -2.3%

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CY2022Q4 us-gaap Net Income Loss
NetIncomeLoss
5338000
CY2021Q4 us-gaap Net Income Loss
NetIncomeLoss
6537000
CY2022Q4 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodTax
-27000
CY2021Q4 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodTax
18000
CY2022Q4 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
-95000
CY2021Q4 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
54000
CY2022Q4 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
-95000
CY2021Q4 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
54000
CY2022Q4 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
5243000
CY2022Q4 hovb Minimum Capital Adequacy Requirement With Capital Conservation Buffer Common Equity Tier One Risk Based Capital Ratio
MinimumCapitalAdequacyRequirementWithCapitalConservationBufferCommonEquityTierOneRiskBasedCapitalRatio
0.0700
CY2021Q4 us-gaap Payments For Proceeds From Loans And Leases
PaymentsForProceedsFromLoansAndLeases
64330000
CY2022Q3 us-gaap Stockholders Equity
StockholdersEquity
172584000
CY2022Q4 us-gaap Net Income Loss
NetIncomeLoss
5338000
CY2022Q4 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
-95000
CY2022Q4 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.10
CY2022Q4 us-gaap Dividends Common Stock Cash
DividendsCommonStockCash
739000
CY2022Q4 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
439000
CY2022Q4 us-gaap Adjustments Related To Tax Withholding For Share Based Compensation
AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation
5000
CY2022Q4 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
106000
CY2022Q4 us-gaap Stockholders Equity
StockholdersEquity
177628000
CY2021Q3 us-gaap Stockholders Equity
StockholdersEquity
122529000
CY2021Q4 us-gaap Net Income Loss
NetIncomeLoss
6537000
CY2021Q4 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
54000
CY2021Q4 us-gaap Stock Issued During Period Value Issued For Services
StockIssuedDuringPeriodValueIssuedForServices
42000
CY2021Q4 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
217000
CY2021Q4 us-gaap Stockholders Equity
StockholdersEquity
129379000
CY2022Q4 us-gaap Net Income Loss
NetIncomeLoss
5338000
CY2021Q4 us-gaap Net Income Loss
NetIncomeLoss
6537000
CY2022Q4 us-gaap Provision For Loan Lease And Other Losses
ProvisionForLoanLeaseAndOtherLosses
1500000
CY2021Q4 us-gaap Provision For Loan Lease And Other Losses
ProvisionForLoanLeaseAndOtherLosses
900000
CY2022Q4 us-gaap Depreciation Amortization And Accretion Net
DepreciationAmortizationAndAccretionNet
421000
CY2021Q4 us-gaap Depreciation Amortization And Accretion Net
DepreciationAmortizationAndAccretionNet
397000
CY2022Q4 us-gaap Share Based Compensation
ShareBasedCompensation
439000
CY2021Q4 us-gaap Share Based Compensation
ShareBasedCompensation
217000
CY2022Q4 us-gaap Gain Loss On Sales Of Loans Net
GainLossOnSalesOfLoansNet
578000
CY2021Q4 us-gaap Gain Loss On Sales Of Loans Net
GainLossOnSalesOfLoansNet
1492000
CY2022Q4 us-gaap Accretion Amortization Of Discounts And Premiums Investments
AccretionAmortizationOfDiscountsAndPremiumsInvestments
154000
CY2021Q4 us-gaap Accretion Amortization Of Discounts And Premiums Investments
AccretionAmortizationOfDiscountsAndPremiumsInvestments
1640000
CY2022Q4 hovb Net Change In Operating Leases
NetChangeInOperatingLeases
654000
CY2022Q4 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
18000
CY2021Q4 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
21000
CY2022Q4 us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
13000
CY2021Q4 us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
22000
CY2022Q4 us-gaap Mortgage Servicing Rights Msr Impairment Recovery
MortgageServicingRightsMSRImpairmentRecovery
87000
CY2021Q4 us-gaap Mortgage Servicing Rights Msr Impairment Recovery
MortgageServicingRightsMSRImpairmentRecovery
117000
CY2022Q4 us-gaap Increase Decrease In Deferred Income Taxes
IncreaseDecreaseInDeferredIncomeTaxes
35000
CY2021Q4 us-gaap Increase Decrease In Deferred Income Taxes
IncreaseDecreaseInDeferredIncomeTaxes
-526000
CY2022Q4 us-gaap Increase Decrease In Accrued Interest Receivable Net
IncreaseDecreaseInAccruedInterestReceivableNet
984000
CY2021Q4 us-gaap Increase Decrease In Accrued Interest Receivable Net
IncreaseDecreaseInAccruedInterestReceivableNet
-505000
CY2022Q4 us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
1083000
CY2021Q4 us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
597000
CY2022Q4 us-gaap Increase Decrease In Interest Payable Net
IncreaseDecreaseInInterestPayableNet
-73000
CY2021Q4 us-gaap Increase Decrease In Interest Payable Net
IncreaseDecreaseInInterestPayableNet
-411000
CY2022Q4 us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
512000
CY2021Q4 us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
1399000
CY2022Q4 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
6075000
CY2021Q4 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
6501000
CY2022Q4 us-gaap Payments To Acquire Restricted Investments
PaymentsToAcquireRestrictedInvestments
14570000
CY2021Q4 us-gaap Payments To Acquire Restricted Investments
PaymentsToAcquireRestrictedInvestments
1081000
CY2022Q4 us-gaap Proceeds From Maturities Prepayments And Calls Of Held To Maturity Securities
ProceedsFromMaturitiesPrepaymentsAndCallsOfHeldToMaturitySecurities
77000
CY2022Q4 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
845000
CY2021Q4 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
289000
CY2022Q4 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-129360000
CY2021Q4 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-24208000
CY2022Q4 us-gaap Increase Decrease In Deposits
IncreaseDecreaseInDeposits
-10302000
CY2021Q4 us-gaap Increase Decrease In Deposits
IncreaseDecreaseInDeposits
12437000
CY2022Q4 us-gaap Proceeds From Federal Home Loan Bank Borrowings
ProceedsFromFederalHomeLoanBankBorrowings
137000000
CY2021Q4 us-gaap Proceeds From Federal Home Loan Bank Borrowings
ProceedsFromFederalHomeLoanBankBorrowings
20000000
CY2021Q4 us-gaap Repayments Of Federal Home Loan Bank Borrowings
RepaymentsOfFederalHomeLoanBankBorrowings
14000000
CY2022Q4 us-gaap Repayments Of Bank Debt
RepaymentsOfBankDebt
434000
CY2021Q4 us-gaap Repayments Of Bank Debt
RepaymentsOfBankDebt
52323000
CY2022Q4 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
5000
CY2022Q4 us-gaap Payments Of Dividends
PaymentsOfDividends
729000
CY2022Q4 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
106000
CY2022Q4 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
125636000
CY2021Q4 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-33886000
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
2351000
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
-51593000
CY2022Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
149947000
CY2021Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
166544000
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
152298000
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
114951000
CY2022Q4 us-gaap Interest Paid Net
InterestPaidNet
7381000
CY2021Q4 us-gaap Interest Paid Net
InterestPaidNet
1758000
CY2022Q4 us-gaap Income Taxes Paid
IncomeTaxesPaid
51000
CY2022Q4 us-gaap Transfer Of Portfolio Loans And Leases To Held For Sale1
TransferOfPortfolioLoansAndLeasesToHeldForSale1
8047000
CY2021Q4 us-gaap Transfer Of Portfolio Loans And Leases To Held For Sale1
TransferOfPortfolioLoansAndLeasesToHeldForSale1
35212000
CY2022Q4 hovb Preferred Stock Issued In Exchange For Common Stock
PreferredStockIssuedInExchangeForCommonStock
2963000
CY2022Q4 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
13063000
CY2021Q4 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
5583973
CY2022Q4 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.72
CY2021Q4 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.16
CY2021Q4 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
0
CY2022Q4 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
0
CY2022Q4 us-gaap Net Income Loss
NetIncomeLoss
5338000
CY2021Q4 us-gaap Net Income Loss
NetIncomeLoss
6537000
CY2022Q4 us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
208000
CY2021Q4 us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
87000
CY2022Q4 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
5130000
CY2021Q4 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
6450000
CY2022Q4 us-gaap Weighted Average Number Of Shares Issued Basic
WeightedAverageNumberOfSharesIssuedBasic
7292940
CY2021Q4 us-gaap Weighted Average Number Of Shares Issued Basic
WeightedAverageNumberOfSharesIssuedBasic
5562939
CY2022Q4 us-gaap Weighted Average Number Of Shares Restricted Stock
WeightedAverageNumberOfSharesRestrictedStock
284027
CY2021Q4 us-gaap Weighted Average Number Of Shares Restricted Stock
WeightedAverageNumberOfSharesRestrictedStock
74455
CY2022Q4 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
7008913
CY2021Q4 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
5488484
CY2022Q4 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.73
CY2021Q4 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.18
CY2022Q4 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
5130000
CY2021Q4 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
6450000
CY2022Q4 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
7008913
CY2021Q4 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
5488484
CY2022Q4 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
94998
CY2021Q4 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
95489
CY2022Q4 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
7103911
CY2022Q4 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
12151000
CY2022Q4 us-gaap Debt Securities Held To Maturity Amortized Cost After Allowance For Credit Loss
DebtSecuritiesHeldToMaturityAmortizedCostAfterAllowanceForCreditLoss
4336000
CY2022Q4 us-gaap Held To Maturity Securities Accumulated Unrecognized Holding Loss
HeldToMaturitySecuritiesAccumulatedUnrecognizedHoldingLoss
270000
CY2022Q4 us-gaap Held To Maturity Securities Fair Value
HeldToMaturitySecuritiesFairValue
4066000
CY2022Q4 hovb Debt Securities Available For Sale And Held To Maturity Amortized Cost
DebtSecuritiesAvailableForSaleAndHeldToMaturityAmortizedCost
17399000
CY2022Q4 hovb Debt Securities Available For Sale And Held To Maturity Accumulated Unrealized Losses
DebtSecuritiesAvailableForSaleAndHeldToMaturityAccumulatedUnrealizedLosses
1182000
CY2022Q4 us-gaap Debt Securities Available For Sale And Held To Maturity Fair Value
DebtSecuritiesAvailableForSaleAndHeldToMaturityFairValue
16217000
CY2022Q3 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
13075000
CY2022Q3 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
790000
CY2022Q3 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
12285000
CY2022Q3 us-gaap Debt Securities Held To Maturity Amortized Cost After Allowance For Credit Loss
DebtSecuritiesHeldToMaturityAmortizedCostAfterAllowanceForCreditLoss
4414000
CY2022Q3 us-gaap Held To Maturity Securities Accumulated Unrecognized Holding Loss
HeldToMaturitySecuritiesAccumulatedUnrecognizedHoldingLoss
319000
CY2022Q3 us-gaap Held To Maturity Securities Fair Value
HeldToMaturitySecuritiesFairValue
4095000
CY2022Q3 hovb Debt Securities Available For Sale And Held To Maturity Amortized Cost
DebtSecuritiesAvailableForSaleAndHeldToMaturityAmortizedCost
17489000
CY2022Q3 hovb Debt Securities Available For Sale And Held To Maturity Accumulated Unrealized Losses
DebtSecuritiesAvailableForSaleAndHeldToMaturityAccumulatedUnrealizedLosses
1109000
CY2022Q3 us-gaap Debt Securities Available For Sale And Held To Maturity Fair Value
DebtSecuritiesAvailableForSaleAndHeldToMaturityFairValue
16380000
CY2022Q4 us-gaap Available For Sale Securities Debt Maturities After Five Through Ten Years Amortized Cost
AvailableForSaleSecuritiesDebtMaturitiesAfterFiveThroughTenYearsAmortizedCost
12700000
CY2022Q4 us-gaap Available For Sale Securities Debt Maturities After Five Through Ten Years Fair Value
AvailableForSaleSecuritiesDebtMaturitiesAfterFiveThroughTenYearsFairValue
11903000
CY2022Q4 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
13063000
CY2022Q4 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
12151000
CY2022Q4 us-gaap Held To Maturity Securities Debt Maturities After One Through Five Years Net Carrying Amount
HeldToMaturitySecuritiesDebtMaturitiesAfterOneThroughFiveYearsNetCarryingAmount
0
CY2022Q4 us-gaap Held To Maturity Securities Debt Maturities After One Through Five Years Fair Value
HeldToMaturitySecuritiesDebtMaturitiesAfterOneThroughFiveYearsFairValue
0
CY2022Q4 us-gaap Held To Maturity Securities Debt Maturities After Five Through Ten Years Net Carrying Amount
HeldToMaturitySecuritiesDebtMaturitiesAfterFiveThroughTenYearsNetCarryingAmount
0
CY2022Q4 us-gaap Held To Maturity Securities Debt Maturities After Five Through Ten Years Fair Value
HeldToMaturitySecuritiesDebtMaturitiesAfterFiveThroughTenYearsFairValue
0
CY2022Q4 us-gaap Debt Securities Held To Maturity Amortized Cost After Allowance For Credit Loss
DebtSecuritiesHeldToMaturityAmortizedCostAfterAllowanceForCreditLoss
4336000
CY2022Q4 us-gaap Held To Maturity Securities Fair Value
HeldToMaturitySecuritiesFairValue
4066000
CY2022Q4 hovb Debt Securities Available For Sale And Held To Maturity Amortized Cost
DebtSecuritiesAvailableForSaleAndHeldToMaturityAmortizedCost
17399000
CY2022Q4 us-gaap Debt Securities Available For Sale And Held To Maturity Fair Value
DebtSecuritiesAvailableForSaleAndHeldToMaturityFairValue
16217000
CY2021Q4 us-gaap Proceeds From Sale And Maturity Of Marketable Securities
ProceedsFromSaleAndMaturityOfMarketableSecurities
0
CY2022Q4 us-gaap Proceeds From Sale And Maturity Of Marketable Securities
ProceedsFromSaleAndMaturityOfMarketableSecurities
0
CY2022Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12Months
10850000
CY2022Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months Accumulated Loss
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12MonthsAccumulatedLoss
904000
CY2022Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLonger
101000
CY2022Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer Accumulated Loss
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLongerAccumulatedLoss
8000
CY2022Q4 us-gaap Debt Securities Available For Sale Unrealized Loss Position Number Of Positions
DebtSecuritiesAvailableForSaleUnrealizedLossPositionNumberOfPositions
11
CY2022Q4 us-gaap Debt Securities Available For Sale Unrealized Loss Position
DebtSecuritiesAvailableForSaleUnrealizedLossPosition
10951000
CY2022Q4 us-gaap Debt Securities Available For Sale Unrealized Loss Position Accumulated Loss
DebtSecuritiesAvailableForSaleUnrealizedLossPositionAccumulatedLoss
912000
CY2022Q4 us-gaap Held To Maturity Securities Continuous Unrealized Loss Position Less Than Twelve Months Fair Value
HeldToMaturitySecuritiesContinuousUnrealizedLossPositionLessThanTwelveMonthsFairValue
4066000
CY2022Q4 us-gaap Held To Maturity Securities Continuous Unrealized Loss Position Less Than12 Months Accumulated Loss
HeldToMaturitySecuritiesContinuousUnrealizedLossPositionLessThan12MonthsAccumulatedLoss
270000
CY2022Q4 us-gaap Held To Maturity Securities In Unrealized Loss Positions Qualitative Disclosure Number Of Positions
HeldToMaturitySecuritiesInUnrealizedLossPositionsQualitativeDisclosureNumberOfPositions
5
CY2022Q4 us-gaap Held To Maturity Securities Continuous Unrealized Loss Position Fair Value
HeldToMaturitySecuritiesContinuousUnrealizedLossPositionFairValue
4066000
CY2022Q4 us-gaap Held To Maturity Securities Continuous Unrealized Loss Position Accumulated Loss
HeldToMaturitySecuritiesContinuousUnrealizedLossPositionAccumulatedLoss
270000
CY2022Q3 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12Months
10995000
CY2022Q3 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months Accumulated Loss
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12MonthsAccumulatedLoss
783000
CY2022Q3 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLonger
90000
CY2022Q3 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer Accumulated Loss
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLongerAccumulatedLoss
7000
CY2022Q3 us-gaap Debt Securities Available For Sale Unrealized Loss Position
DebtSecuritiesAvailableForSaleUnrealizedLossPosition
11085000
CY2022Q3 us-gaap Debt Securities Available For Sale Unrealized Loss Position Accumulated Loss
DebtSecuritiesAvailableForSaleUnrealizedLossPositionAccumulatedLoss
790000
CY2022Q3 us-gaap Held To Maturity Securities Continuous Unrealized Loss Position Less Than Twelve Months Fair Value
HeldToMaturitySecuritiesContinuousUnrealizedLossPositionLessThanTwelveMonthsFairValue
4095000
CY2022Q3 us-gaap Held To Maturity Securities Continuous Unrealized Loss Position Less Than12 Months Accumulated Loss
HeldToMaturitySecuritiesContinuousUnrealizedLossPositionLessThan12MonthsAccumulatedLoss
319000
CY2022Q3 us-gaap Held To Maturity Securities In Unrealized Loss Positions Qualitative Disclosure Number Of Positions
HeldToMaturitySecuritiesInUnrealizedLossPositionsQualitativeDisclosureNumberOfPositions
5
CY2022Q3 us-gaap Held To Maturity Securities Continuous Unrealized Loss Position Fair Value
HeldToMaturitySecuritiesContinuousUnrealizedLossPositionFairValue
4095000
CY2022Q3 us-gaap Held To Maturity Securities Continuous Unrealized Loss Position Accumulated Loss
HeldToMaturitySecuritiesContinuousUnrealizedLossPositionAccumulatedLoss
319000
CY2022Q4 hovb Other Than Temporary Impairment Losses Investment Securities
OtherThanTemporaryImpairmentLossesInvestmentSecurities
0
CY2022 hovb Other Than Temporary Impairment Losses Investment Securities
OtherThanTemporaryImpairmentLossesInvestmentSecurities
0
CY2022Q4 us-gaap Loans And Leases Receivable Gross Carrying Amount
LoansAndLeasesReceivableGrossCarryingAmount
1743248000
CY2022Q3 us-gaap Loans And Leases Receivable Gross Carrying Amount
LoansAndLeasesReceivableGrossCarryingAmount
1620891000
CY2022Q4 us-gaap Loans And Leases Receivable Deferred Income
LoansAndLeasesReceivableDeferredIncome
3562000
CY2022Q3 us-gaap Loans And Leases Receivable Deferred Income
LoansAndLeasesReceivableDeferredIncome
2640000
CY2022Q4 us-gaap Notes Receivable Gross
NotesReceivableGross
1746810000
CY2022Q3 us-gaap Notes Receivable Gross
NotesReceivableGross
1623531000
CY2022Q4 us-gaap Financing Receivable Allowance For Credit Losses
FinancingReceivableAllowanceForCreditLosses
14404000
CY2022Q3 us-gaap Financing Receivable Allowance For Credit Losses
FinancingReceivableAllowanceForCreditLosses
12844000
CY2022Q4 us-gaap Notes Receivable Net
NotesReceivableNet
1732406000
CY2022Q3 us-gaap Notes Receivable Net
NotesReceivableNet
1610687000
CY2022Q4 hovb Financing Receivable Loans Serviced For Others
FinancingReceivableLoansServicedForOthers
250000000.0
CY2022Q3 hovb Financing Receivable Loans Serviced For Others
FinancingReceivableLoansServicedForOthers
246000000.0
CY2022Q4 us-gaap Loans Receivable Held For Sale Net Not Part Of Disposal Group
LoansReceivableHeldForSaleNetNotPartOfDisposalGroup
0
CY2022Q3 us-gaap Loans Receivable Held For Sale Net Not Part Of Disposal Group
LoansReceivableHeldForSaleNetNotPartOfDisposalGroup
0
CY2022Q4 us-gaap Certain Loans Acquired In Transfer Not Accounted For As Debt Securities Carrying Amount Net
CertainLoansAcquiredInTransferNotAccountedForAsDebtSecuritiesCarryingAmountNet
1202000
CY2022Q3 us-gaap Certain Loans Acquired In Transfer Not Accounted For As Debt Securities Carrying Amount Net
CertainLoansAcquiredInTransferNotAccountedForAsDebtSecuritiesCarryingAmountNet
1231000
CY2022Q4 hovb Proceeds From Sale Of Loans Receivable And Loans Held For Investment
ProceedsFromSaleOfLoansReceivableAndLoansHeldForInvestment
8000000.0
CY2021Q4 hovb Proceeds From Sale Of Loans Receivable And Loans Held For Investment
ProceedsFromSaleOfLoansReceivableAndLoansHeldForInvestment
35200000
CY2022Q4 us-gaap Gain Loss On Sales Of Loans Net
GainLossOnSalesOfLoansNet
578000
CY2022Q3 us-gaap Financing Receivable Allowance For Credit Losses
FinancingReceivableAllowanceForCreditLosses
12844000
CY2022Q4 us-gaap Financing Receivable Allowance For Credit Losses Recovery
FinancingReceivableAllowanceForCreditLossesRecovery
60000
CY2022Q4 us-gaap Provision For Loan Losses Expensed
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Capital
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Capital
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CapitalRequiredForCapitalAdequacy
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CY2022Q3 us-gaap Capital Required For Capital Adequacy To Risk Weighted Assets
CapitalRequiredForCapitalAdequacyToRiskWeightedAssets
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ExcessCapitalToRiskWeightedAssets
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CY2022Q3 us-gaap Capital Required To Be Well Capitalized To Risk Weighted Assets
CapitalRequiredToBeWellCapitalizedToRiskWeightedAssets
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CY2022Q3 us-gaap Tier One Risk Based Capital
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CY2022Q3 us-gaap Tier One Risk Based Capital To Risk Weighted Assets
TierOneRiskBasedCapitalToRiskWeightedAssets
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TierOneRiskBasedCapitalRequiredForCapitalAdequacy
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CY2022Q3 us-gaap Tier One Risk Based Capital Required For Capital Adequacy To Risk Weighted Assets
TierOneRiskBasedCapitalRequiredForCapitalAdequacyToRiskWeightedAssets
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CY2022Q3 us-gaap Excess Tier One Risk Based Capital
ExcessTierOneRiskBasedCapital
99658000
CY2022Q3 us-gaap Excess Tier One Risk Based Capital To Risk Weighted Assets
ExcessTierOneRiskBasedCapitalToRiskWeightedAssets
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CY2022Q3 us-gaap Tier One Risk Based Capital Required To Be Well Capitalized
TierOneRiskBasedCapitalRequiredToBeWellCapitalized
93796000
CY2022Q3 us-gaap Tier One Risk Based Capital Required To Be Well Capitalized To Risk Weighted Assets
TierOneRiskBasedCapitalRequiredToBeWellCapitalizedToRiskWeightedAssets
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CY2022Q3 us-gaap Common Equity Tier One Capital
CommonEquityTierOneCapital
178340000
CY2022Q3 us-gaap Common Equity Tier One Capital Ratio
CommonEquityTierOneCapitalRatio
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CY2022Q3 us-gaap Common Equity Tier One Capital Required For Capital Adequacy
CommonEquityTierOneCapitalRequiredForCapitalAdequacy
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CY2022Q3 hovb Minimum Capital Adequacy Requirement With Capital Conservation Buffer Common Equity Tier One Risk Based Capital Ratio
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CY2022Q3 us-gaap Common Equity Tier One Capital Required To Be Well Capitalized
CommonEquityTierOneCapitalRequiredToBeWellCapitalized
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CY2022Q3 us-gaap Banking Regulation Common Equity Tier One Risk Based Capital Ratio Well Capitalized Minimum
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CY2022Q3 us-gaap Tier One Leverage Capital
TierOneLeverageCapital
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CY2022Q3 us-gaap Tier One Leverage Capital To Average Assets
TierOneLeverageCapitalToAverageAssets
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CY2022Q3 us-gaap Tier One Leverage Capital Required For Capital Adequacy
TierOneLeverageCapitalRequiredForCapitalAdequacy
65429000
CY2022Q3 us-gaap Tier One Leverage Capital Required For Capital Adequacy To Average Assets
TierOneLeverageCapitalRequiredForCapitalAdequacyToAverageAssets
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CY2022Q3 us-gaap Tier One Leverage Capital Required To Be Well Capitalized
TierOneLeverageCapitalRequiredToBeWellCapitalized
81786000
CY2022Q3 us-gaap Tier One Leverage Capital Required To Be Well Capitalized To Average Assets
TierOneLeverageCapitalRequiredToBeWellCapitalizedToAverageAssets
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CY2022Q4 us-gaap Cash Dividends Paid To Parent Company By Consolidated Subsidiaries
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1500000
CY2022Q4 us-gaap Banking Regulation Maximum Payout Amount
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CY2022Q4 us-gaap Loss Contingency Disclosures
LossContingencyDisclosures
<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-weight:bold;margin:0pt 0pt 12pt 0pt;">8. LOSS CONTINGENCIES</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;">Loss contingencies, including claims and legal actions arising in the ordinary course of business, are recorded as liabilities when the likelihood of a loss is probable and an amount or range of loss can be reasonably estimated. The Company’s management does not believe there are such matters that will have a material effect on the financial statements.</p>
CY2022Q4 us-gaap Advances From Federal Home Loan Banks
AdvancesFromFederalHomeLoanBanks
37800000
CY2022Q3 us-gaap Advances From Federal Home Loan Banks
AdvancesFromFederalHomeLoanBanks
37800000
CY2022Q4 us-gaap Federal Home Loan Bank Advances General Debt Obligations Disclosures Amount Of Available Unused Funds
FederalHomeLoanBankAdvancesGeneralDebtObligationsDisclosuresAmountOfAvailableUnusedFunds
199100000
CY2022Q4 us-gaap Federal Home Loan Bank Advances Maturities Summary Due In Remainder Of Fiscal Year
FederalHomeLoanBankAdvancesMaturitiesSummaryDueInRemainderOfFiscalYear
11815000
CY2022Q4 us-gaap Federal Home Loan Bank Advances Maturities Summary Due Within One Year Of Balance Sheet Date
FederalHomeLoanBankAdvancesMaturitiesSummaryDueWithinOneYearOfBalanceSheetDate
18860000
CY2022Q4 us-gaap Federal Home Loan Bank Advances Maturities Summary Due From One To Two Years Of Balance Sheet Date
FederalHomeLoanBankAdvancesMaturitiesSummaryDueFromOneToTwoYearsOfBalanceSheetDate
7080000
CY2022Q4 us-gaap Advances From Federal Home Loan Banks
AdvancesFromFederalHomeLoanBanks
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CY2022Q4 us-gaap Federal Home Loan Bank Advances Long Term
FederalHomeLoanBankAdvancesLongTerm
224755000
CY2022Q3 us-gaap Federal Home Loan Bank Advances Maturities Summary Due In Remainder Of Fiscal Year
FederalHomeLoanBankAdvancesMaturitiesSummaryDueInRemainderOfFiscalYear
11860000
CY2022Q3 us-gaap Federal Home Loan Bank Advances Maturities Summary Due Within One Year Of Balance Sheet Date
FederalHomeLoanBankAdvancesMaturitiesSummaryDueWithinOneYearOfBalanceSheetDate
18860000
CY2022Q3 us-gaap Federal Home Loan Bank Advances Maturities Summary Due From One To Two Years Of Balance Sheet Date
FederalHomeLoanBankAdvancesMaturitiesSummaryDueFromOneToTwoYearsOfBalanceSheetDate
7080000
CY2022Q3 us-gaap Advances From Federal Home Loan Banks
AdvancesFromFederalHomeLoanBanks
37800000
CY2022Q3 us-gaap Federal Home Loan Bank Advances Long Term
FederalHomeLoanBankAdvancesLongTerm
92800000
CY2022Q4 us-gaap Unamortized Debt Issuance Expense
UnamortizedDebtIssuanceExpense
400000
CY2022Q3 us-gaap Unamortized Debt Issuance Expense
UnamortizedDebtIssuanceExpense
400000
CY2021Q4 us-gaap Reclassification From Aoci Current Period Net Of Tax Attributable To Parent
ReclassificationFromAociCurrentPeriodNetOfTaxAttributableToParent
0
CY2022Q4 us-gaap Reclassification From Aoci Current Period Net Of Tax Attributable To Parent
ReclassificationFromAociCurrentPeriodNetOfTaxAttributableToParent
0

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