Hanover Bancorp Management
Management criteria checks 3/4
Hanover Bancorp's CEO is Michael Puorro, appointed in Jan 2016, has a tenure of 8.25 years. total yearly compensation is $1.14M, comprised of 54.8% salary and 45.2% bonuses, including company stock and options. directly owns 3.84% of the company’s shares, worth $4.17M. The average tenure of the management team and the board of directors is 2.8 years and 8.3 years respectively.
Key information
Michael Puorro
Chief executive officer
US$1.1m
Total compensation
| CEO salary percentage | 54.8% |
| CEO tenure | 8.3yrs |
| CEO ownership | 3.8% |
| Management average tenure | 2.8yrs |
| Board average tenure | 8.3yrs |
CEO Compensation Analysis
| Date | Total Compensation | Salary | Company Earnings |
|---|---|---|---|
| Mar 31 2024 | n/a | n/a | US$14m |
| Dec 31 2023 | n/a | n/a | US$13m |
| Sep 30 2023 | US$1m | US$625k | US$15m |
| Jun 30 2023 | n/a | n/a | US$17m |
| Mar 31 2023 | n/a | n/a | US$19m |
| Dec 31 2022 | n/a | n/a | US$21m |
| Sep 30 2022 | US$2m | US$625k | US$23m |
| Jun 30 2022 | n/a | n/a | US$24m |
| Mar 31 2022 | n/a | n/a | US$19m |
| Dec 31 2021 | n/a | n/a | US$16m |
| Sep 30 2021 | US$937k | US$571k | US$11m |
| Jun 30 2021 | n/a | n/a | US$5m |
| Mar 31 2021 | n/a | n/a | US$7m |
| Dec 31 2020 | n/a | n/a | US$5m |
| Sep 30 2020 | US$978k | US$535k | US$5m |
| Jun 30 2020 | n/a | n/a | US$5m |
| Mar 31 2020 | n/a | n/a | US$5m |
| Dec 31 2019 | n/a | n/a | US$8m |
| Sep 30 2019 | US$1m | US$486k | US$8m |
| Jun 30 2019 | n/a | n/a | US$8m |
| Mar 31 2019 | n/a | n/a | US$8m |
| Dec 31 2018 | n/a | n/a | US$7m |
| Sep 30 2018 | US$824k | US$433k | US$5m |
Compensation vs Market: Michael's total compensation ($USD1.14M) is above average for companies of similar size in the US market ($USD681.24K).
Compensation vs Earnings: Michael's compensation has been consistent with company performance over the past year.
CEO
Michael Puorro (63 yo)
8.3yrs
Tenure
US$1,140,445
Compensation
Mr. Michael P. Puorro is Chairman of the Board and Chief Executive Officer at Hanover Community Bank since 2012. He serves as Director at Hanover Community Bank since 2012. Mr. Puorro has been Chairman of...
Leadership Team
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| CEO & Chairman | 8.3yrs | US$1.14m | 3.84% $ 4.2m | |
| President & Chief Revenue Officer | 2.9yrs | US$838.75k | 1.12% $ 1.2m | |
| Executive VP & Chief Credit Officer | no data | US$450.20k | 0.33% $ 355.6k | |
| Executive VP & CFO | 2.6yrs | no data | 0.29% $ 315.6k | |
| COO & First Senior Vice President | no data | no data | no data | |
| First Senior VP & Chief Accounting Officer | no data | no data | 0.21% $ 224.1k | |
| First Senior VP & Chief Information Officer | less than a year | no data | no data | |
| Executive VP & Chief Municipal Officer | 4.3yrs | no data | no data | |
| First Senior VP & Chief Risk Officer | no data | no data | 0.042% $ 45.2k | |
| ?Senior VP & Corporate Secretary | no data | no data | no data | |
| Executive VP & Chief Lending Officer | less than a year | no data | 0.11% $ 120.4k |
2.8yrs
Average Tenure
57yo
Average Age
Experienced Management: HNVR's management team is considered experienced (2.8 years average tenure).
Board Members
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| CEO & Chairman | 8.3yrs | US$1.14m | 3.84% $ 4.2m | |
| Independent Director | 2.9yrs | US$74.79k | 3.26% $ 3.5m | |
| Independent Director | 8.3yrs | US$80.46k | 0.86% $ 937.6k | |
| Independent Director | 8.3yrs | US$69.04k | 3.47% $ 3.8m | |
| Independent Director | 8.3yrs | US$68.41k | 0.73% $ 795.6k | |
| Independent Director | 8.3yrs | US$77.04k | 0.52% $ 566.6k | |
| Lead Independent Director | 8.3yrs | US$81.66k | 6.32% $ 6.9m | |
| Independent Director | 8.3yrs | US$70.41k | 0.61% $ 666.5k | |
| Independent Director | 2.9yrs | US$74.29k | 2.09% $ 2.3m |
8.3yrs
Average Tenure
69yo
Average Age
Experienced Board: HNVR's board of directors are considered experienced (8.3 years average tenure).