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HNVR (Hanover Bancorp) Effective Interest Rate on Debt % : 51.08% (As of Dec. 2024)


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What is Hanover Bancorp Effective Interest Rate on Debt %?

Effective Interest Rate on Debt % is the usage rate that a borrower actually pays on a debt. It is calculated as the positive value of Interest Expense divided by its average total debt. Total debt equals to Long-Term Debt & Capital Lease Obligation plus Short-Term Debt & Capital Lease Obligation. Hanover Bancorp's annualized positive value of Interest Expense for the quarter that ended in Dec. 2024 was $77.00 Mil. Hanover Bancorp's average total debt for the quarter that ended in Dec. 2024 was $150.74 Mil. Therefore, Hanover Bancorp's annualized Effective Interest Rate on Debt % for the quarter that ended in Dec. 2024 was 51.08%.

Hanover Bancorp Effective Interest Rate on Debt % Historical Data

The historical data trend for Hanover Bancorp's Effective Interest Rate on Debt % can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

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Hanover Bancorp Effective Interest Rate on Debt % Chart

Hanover Bancorp Annual Data
Trend Sep20 Sep21 Sep22 Sep23 Dec24
Effective Interest Rate on Debt %
12.99 4.90 4.62 29.59 44.79

Hanover Bancorp Quarterly Data
Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25
Effective Interest Rate on Debt % Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 44.86 43.95 48.94 51.08 51.44

Competitive Comparison of Hanover Bancorp's Effective Interest Rate on Debt %

For the Banks - Regional subindustry, Hanover Bancorp's Effective Interest Rate on Debt %, along with its competitors' market caps and Effective Interest Rate on Debt % data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.

Hanover Bancorp's Effective Interest Rate on Debt % Distribution in the Banks Industry

For the Banks industry and Financial Services sector, Hanover Bancorp's Effective Interest Rate on Debt % distribution charts can be found below:

* The bar in red indicates where Hanover Bancorp's Effective Interest Rate on Debt % falls into.


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Hanover Bancorp Effective Interest Rate on Debt % Calculation

Hanover Bancorp's annualized Effective Interest Rate on Debt % for the fiscal year that ended in Dec. 2024 is calculated as

Effective Interest Rate on Debt %
=-1  *  Interest Expense/( (Total Debt  (A: Sep. 2023 )+Total Debt  (A: Dec. 2024 ))/ count )
=-1  *  -79.93/( (215.369+141.519)/ 2 )
=-1  *  -79.93/178.444
=44.79 %

where

Total Debt  (A: Sep. 2023 )
=Long-Term Debt & Capital Lease Obligation + Short-Term Debt & Capital Lease Obligation
=215.369 + 0
=215.369

Total Debt  (A: Dec. 2024 )
=Long-Term Debt & Capital Lease Obligation + Short-Term Debt & Capital Lease Obligation
=141.519 + 0
=141.519

Hanover Bancorp's annualized Effective Interest Rate on Debt % for the quarter that ended in Dec. 2024 is calculated as

Effective Interest Rate on Debt %
=-1  *  Interest Expense/( (Total Debt  (Q: Sep. 2024 )+Total Debt  (Q: Dec. 2024 ))/ count )
=-1  *  -76.996/( (159.952+141.519)/ 2 )
=-1  *  -76.996/150.7355
=51.08 %

where

Total Debt  (Q: Sep. 2024 )
=Long-Term Debt & Capital Lease Obligation + Short-Term Debt & Capital Lease Obligation
=159.952 + 0
=159.952

Total Debt  (Q: Dec. 2024 )
=Long-Term Debt & Capital Lease Obligation + Short-Term Debt & Capital Lease Obligation
=141.519 + 0
=141.519

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

In the calculation of annual Effective Interest Rate on Debt %, the Interest Expense of the last fiscal year and the average total debt over the fiscal year are used. In calculating the quarterly data, the Interest Expense data used here is four times the quarterly (Dec. 2024) interest expense data. Effective Interest Rate on Debt % is displayed in the 30-year financial page.

Hanover Bancorp  (NAS:HNVR) Effective Interest Rate on Debt % Explanation

Effective Interest Rate on Debt % measures the usage rate that a borrower actually pays on a debt.

Hanover Bancorp Effective Interest Rate on Debt % Related Terms

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Hanover Bancorp Business Description

Industry
GURUFOCUS.COM » STOCK LIST » Financial Services » Banks » Hanover Bancorp Inc (NAS:HNVR) » Definitions » Effective Interest Rate on Debt %
Comparable Companies
CBTN UBAB LARK FCAP BVFL NKSH EFSI FRAF PMHG OVBC NSE:HDFCBANK SHSE:600036 NSE:ICICIBANK SAU:1120 MIL:ISP XPAR:BNP SGX:D05 MIL:UCG NSE:SBIN HKSE:01658
Traded in Other Exchanges
N/A
Address
80 East Jericho Turnpike, Mineola, NY, USA, 11501
Website
https://www.hanoverbank.com
Hanover Bancorp Inc is a United States-based banking company. It offers a full range of financial services and 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.
Executives
Robert Golden director C/O GOLDEN PROPERTIES GROUP, LLC, 420 DOUGHTY BLVD., INWOOD NY 11096
Katz Michael David M.d. director C/O HANOVER BANCORP, INC., 80 EAST JERICHO TURNPIKE, MINEOLA NY 11501
Elena Sisti director C/O HANOVER BANCORP, INC., 80 EAST JERICHO TURNPIKE, MINEOLA NY 11501
Philip A Okun director C/O HANOVER BANCORP, INC., 80 EAST JERICHO TURNPIKE, MINEOLA NY 11501
Lance P Burke officer: EVP & Chief Financial Officer C/O HANOVER BANCORP, INC., 80 EAST JERICHO TURNPIKE, MINEOLA NY 11501
Michael P Puorro director, officer: Chairman & CEO C/O NEW YORK COMMUNITY BANCORP, INC., 615 MERRICK AVENUE, WESTBURY NY 11590
Mcclelland W Wilcox officer: SEVP, C.Lending & Revenue Off. C/O HANOVER BANCORP, INC., 80 EAST JERICHO TURNPIKE, MINEOLA NY 11501
John P Vivona officer: FSVP & Chief Risk Officer C/O HANOVER BANCORP, INC., 80 E JERICHO TURNPIKE, MINEOLA NY 11501
Alice T Rouse officer: EVP & Chief Risk Officer C/O HANOVER BANCORP, INC., 80 EAST JERICHO TURNPIKE, MINEOLA NY 11501
Metin Negrin director C/O HANOVER BANCORP, INC., 80 EAST JERICHO TURNPIKE, MINEOLA NY 11501
Lisa A Diiorio officer: FSVP & Chief Accounting Off. C/O HANOVER BANCORP, INC., 80 EAST JERICHO TURNPIKE, MINEOLA NY 11501
John R Sorrenti director C/O HANOVER BANCORP, INC., 80 EAST JERICHO TURNPIKE, MINEOLA NY 11501
Varkey Abraham director C/O HANOVER BANCORP, INC., 80 EAST JERICHO TURNPIKE, MINEOLA NY 11501
Kevin Corbett officer: EVP & Chief Credit Officer C/O HANOVER BANCORP, INC., 80 EAST JERICHO TURNPIKE, MINEOLA NY 11501
Brian K Finneran officer: President C/O SUFFOLK BANCORP, 4 WEST SECOND STREET, P.O. BOX 9000, RIVERHEAD NY 11901