Hanover Bancorp(HNVR) - 2024 Q2 - Quarterly Results

Exhibit 99.1 First Quarter Performance Highlights Earnings Summary for the Quarter Ended March 31, 2024 The increase in net income recorded in the first quarter of 2024 from the comparable 2023 quarter resulted from an increase in non-interest income and a decrease in the provision for credit losses, which were partially offset by an increase in non-interest expense, primarily in occupancy and equipment. Additionally, net interest income decreased due to the continued impact of higher funding costs resultin ...