Hanover Bancorp Inc. (NASDAQ: HNVR) shares advanced 2% in after-hours trading after the board approved a share repurchase program covering up to 370,000 shares, or roughly 5% of the company’s outstanding common stock.
The program, set to expire on August 17, 2027, follows a prior authorization approved on October 5, 2023. Repurchases may be executed in the open market or through privately negotiated transactions, with some or all transactions permitted under a Rule 10b5-1 trading plan.
Hanover Bancorp, based in Mineola, New York, operates Hanover Community Bank, which serves customers across Long Island. The company’s shares had risen in after-hours trading following the announcement of the buyback initiative.
