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Hanover Bancorp, Inc. Announces Completion of $25 Million Private Placement of Subordinated Notes

Oct 08, 2020 - GlobeNewswire
Mergers and Acquisitions

MINEOLA, N.Y., Oct. 08, 2020 (GLOBE NEWSWIRE) -- Hanover Bancorp, Inc. (“Hanover” or “the Company”), parent company of Hanover Community Bank, is pleased to announce that the Company has completed the private placement of $25 million in aggregate principal amount of fixed-to-floating rate subordinated notes due 2030 (the “Notes”) to certain qualified institutional buyers and accredited investors.

The Notes will initially bear interest, payable semi-annually, at the rate ...