Castle Creek Capital Takes Stake in Hanover Bancorp

TL;DR

**Castle Creek Capital just bought into Hanover Bancorp. Big move.**

AI Summary

Castle Creek Capital Partners VIII, LP, a Delaware-based entity, has filed a Schedule 13D on August 26, 2024, indicating a change in beneficial ownership of Hanover Bancorp, Inc. (NY). The filing details the acquisition of common stock, with the specific number of shares and total cost not explicitly stated in this excerpt, but it signifies a significant stake taken by Castle Creek Capital.

Why It Matters

This filing signals a new significant shareholder in Hanover Bancorp, potentially leading to changes in corporate strategy or governance as Castle Creek Capital asserts its influence.

Risk Assessment

Risk Level: medium — The filing indicates a change in beneficial ownership by a significant entity, which could lead to activist investor behavior or strategic shifts impacting the company's stock.

Key Numbers

• 0001828588 — Central Index Key (Identifier for Hanover Bancorp, Inc.)
• 0001868329 — Central Index Key (Identifier for Castle Creek Capital Partners VIII, LP)
• 20240826 — Filing Date (Date of the SC 13D filing)

Key Players & Entities

• Castle Creek Capital Partners VIII, LP (company) — Filing entity, beneficial owner
• Hanover Bancorp, Inc. /NY (company) — Subject company
• 80 EAST JERICHO TURNPIKE, MINEOLA, NY 11501 (location) — Hanover Bancorp's business and mail address
• 11682 EL CAMINO REAL, SUITE 320, SAN DIEGO, CA 92130 (location) — Castle Creek Capital's business and mail address

FAQ

Key Financial Figures

• $0.01 — ame of Issuer) Common Stock, par value $0.01 per share (Title of Class of Securiti
• $16.18 — ighted average price share ranging from $16.18 per share to $17.28 per share), with Fu
• $17.28 — share ranging from $16.18 per share to $17.28 per share), with Fund VIII expending an
• $1,330,182.82 — ith Fund VIII expending an aggregate of $1,330,182.82 to acquire such shares of Common Stock.
• $17.1361 — 30, 2024 at a weighted average price of $17.1361 per share; (ii) 4,384 shares of Common
• $17.02 — 9, 2024 at a weighted average price of $17.02 per share; (iii) 967 shares of Common S
• $17.1689 — 13, 2024 at a weighted average price of $17.1689 per share; (iv) 243 shares of Common St
• $17.24 — 14, 2024 at a weighted average price of $17.24 per share; (v) 4,890 shares of Common S
• $17.25 — 15, 2024 at a weighted average price of $17.25 per share; (vi) 6,459 shares of Common
• $17.2731 — 19, 2024 at a weighted average price of $17.2731 per share; (vii) 2,762 shares of Common
• $17.27 — 21, 2024 at a weighted average price of $17.27 per share; (viii) 164 shares of Common

Filing Documents

• tm2422674d1_sc13d.htm (SC 13D) — 68KB
• tm2422674d1_ex99-1.htm (EX-99.1) — 5KB
• 0001104659-24-092970.txt ( ) — 75KB

SIGNATURES

SIGNATURES After reasonable inquiry and to the best of the knowledge and belief of the undersigned, the undersigned certifies that the information set forth in this statement is true, complete and correct. Dated: August 26, 2024 CASTLE CREEK CAPITAL PARTNERS VIII, LP By: Castle Creek Capital VIII LLC, its general partner By: /s/ Sundeep Rana Name: Sundeep Rana Title: Managing Principal CASTLE CREEK CAPITAL VIII LLC By: /s/ Sundeep Rana Name: Sundeep Rana Title: Managing Principal

View Full Filing

View this SC 13D filing on SEC EDGAR