M&A Deal Summary |
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Date | 2020-08-27 |
Target | Savoy Bank |
Sector | Financial Services |
Buyer(s) | Hanover Bank |
Deal Type | Merger |
Deal Value | 63M USD |
Advisor(s) | Janney Montgomery Scott LLC (Financial) Gallet Dreyer & Berkey (Legal) |
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Hanover is a locally owned and operated privately held stock bank holding company for Hanover Community Bank, a community commercial bank focusing on highly personalized and efficient services and products responsive to local needs. Management and the Board of Directors are comprised of a select group of successful local businessmen and women who are committed to the success of the Bank by knowing and understanding the metro-New York area’s financial needs and opportunities. Hanover offers a full range of financial services. Hanover 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. Hanover also offers access to 24-hour ATM service with no fees attached, free checking with interest, telephone banking, advanced technologies in mobile and internet banking for our consumer and business customers, safe deposit boxes, and much more. The Company’s corporate administrative office is located in Mineola, New York where it also operates a full-service branch office along with additional branch locations in Garden City Park, Forest Hills, Flushing, Sunset Park, and Chinatown, New York.
DEAL STATS | # |
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Overall | 1 of 1 |
Sector (Financial Services) | 1 of 1 |
Type (Merger) | 1 of 1 |
Country (United States) | 1 of 1 |
Year (2020) | 1 of 1 |
Size (of disclosed) | 1 of 1 |