Hanover Bancorp to expand onto Long Island

Hanover Bancorp in Mineola, N.Y., plans to open its first branch on Long Island. 

The $1.5 billion-asset company said in a press release Wednesday that it will open a location in Hauppage, N.Y., by the end of this year. 

Hanover said the full-service, high-tech branch has already received regulatory approval. It will be located next to the Long Island Innovation Park. 

“Moving eastward to Suffolk County Long Island strategically supports the growth of Hanover’s commercial, municipal and retail banking verticals,” the release said. 

The company opened a branch in Freehold, N.J., earlier this year that focuses on loans to small and midsize businesses, including Small Business Administration financing.