Andover Bancorp, Inc. ANDC

Company Overview

Andover Bancorp, Inc. is a U.S.-based bank holding company headquartered in Andover, Ohio, operating primarily through its wholly owned banking subsidiary, Andover Bank. The company operates in the regional banking and financial services industry, focusing on community banking activities including commercial and retail lending, deposit gathering, residential mortgage lending, and related financial services. Its core revenue drivers are net interest income generated from loans and investment securities, along with fee income tied to banking services.

The company primarily serves individuals, small businesses, agricultural customers, and commercial clients in northeastern Ohio and parts of western Pennsylvania. Its positioning is centered on relationship-based community banking, emphasizing localized decision-making and long-term customer relationships. Andover Bank traces its origins to 1884, giving the institution a long operating history in regional banking markets. Over time, the organization evolved from a traditional local bank into a publicly traded bank holding company while maintaining a community-focused operating model.