GREENE COUNTY BANCORP INC

Listed Company

GCBCCIK 0001070524NasdaqAcceleratedSmaller ReportingSavings Institutions, Not Federally CharteredDelawareFY ends Jun 30

Period

FY 2025

Revenue

—

Net Income

$31.14M

Total Assets

$3.04B

Equity

$238.84M

Shares Out

17.03M

Op. Cash Flow

$27.98M

Business

GREENE COUNTY BANCORP INC operates as the federally chartered holding company that oversees and directs the Bank of Greene County and monitors its cash position. It offers core banking products and services including retail and municipal deposit accounts, residential and commercial mortgage lending, consumer and commercial loans, home equity products, payment and card services, wealth management and investment alternatives rebranded as Greene Investment Services. Key business entities include the Bank of Greene County, Greene County Commercial Bank (limited-purpose commercial bank), Greene Property Holdings, Ltd., and Greene County Bancorp, MHC. The Company serves primarily as a community bank in the Hudson Valley and Capital District regions of New York through full-service branches, lending centers, an operations center, call center and a wealth management center.

Summary from filing dated 2025-09-05

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-06-30	FY 2024 2024-06-30	FY 2023 2023-06-30	FY 2022 2022-06-30	FY 2021 2021-06-30
Loans	80	72	60	47	45
Investment securities - tax exempt	20	18	14	10	8
Investment securities - taxable	15	11	9	2	816,000
Interest-bearing deposits and federal funds sold	4	4	2	157,000	81,000
Total interest income	118	104	85	63	58
Interest on deposits	55	50	20	3	4
Interest on borrowings	3	3	3	2	962,000
Total interest expense	58	53	23	—	—
Net interest income	60	51	61	58	53
Provision for credit losses	1	766,000	−1	—	—
Net interest income after provision for credit losses	59	50	62	55	49
Service charges on deposit accounts	5	5	5	4	3
Debit card fees	4	4	5	4	4
Investment services	1	1	781,000	944,000	732,000
E-commerce fees	110,000	116,000	110,000	107,000	113,000
Bank-owned life insurance	3	2	1	1	425,000
Loss on sale of securities available-for-sale	−665,000	0	−251,000	0	—
Other operating income	3	1	912,000	997,000	1
Total noninterest income	15	14	12	12	10
Salaries and employee benefits	24	24	23	21	19
Occupancy expense	3	2	2	2	2
Equipment and furniture expense	791,000	710,000	699,000	806,000	637,000
Service and data processing fees	3	2	3	3	3
Computer software, supplies and support	2	2	2	2	1
Advertising and promotion	486,000	445,000	498,000	491,000	491,000
FDIC insurance premiums	1	1	1	826,000	738,000
Legal and professional fees	1	2	3	1	1
Other	4	3	3	3	3
Total noninterest expense	39	37	39	34	31
Income before provision for income taxes	35	27	36	33	28
Provision for income taxes	4	2	5	5	4
Net income	31	25	31	28	24
Basic earnings per share (in Dollars per share)	1.83	1.45	1.81	1.64	2.81
Basic average shares outstanding (in Shares)	17	17	17	17	9
Diluted earnings per share (in Dollars per share)	1.83	1.45	1.81	1.64	2.81
Diluted average shares outstanding (in Shares)	17	17	17	17	9
Dividends per share (in Dollars per share)	0.36	0.32	0.28	0.26	0.48

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-06-30	FY 2024 2024-06-30	FY 2023 2023-06-30	FY 2022 2022-06-30	FY 2021 2021-06-30
Cash and due from banks	13	14	15	—	—
Interest-bearing deposits	170	176	181	—	—
Total cash and cash equivalents	183	190	196	69	150
Long-term certificates of deposit	1	3	5	4	5
Securities available-for-sale, at fair value	356	350	281	408	391
Securities held-to-maturity, at amortized cost, net of allowance for credit losses of $548 and $483 at June 30, 2025 and 2024	776	690	726	762	497
Equity securities, at fair value	402,000	328,000	306,000	—	—
Federal Home Loan Bank stock, at cost	6	7	2	7	1
Loans receivable	1,627	1,499	1,409	1,252	1,108
Allowance for credit losses on loans	−20	−19	−21	−23	−20
Net loans receivable	1,607	1,480	1,388	1,229	1,086
Premises and equipment, net	15	16	15	14	14
Bank-owned life insurance	60	57	55	54	40
Accrued interest receivable	16	14	12	9	8
Prepaid expenses and other assets	19	17	17	15	8
Total assets	3,041	2,826	2,698	2,572	2,200
Noninterest-bearing deposits	110	125	159	188	174
Interest-bearing deposits	2,530	2,264	2,278	2,025	1,831
Total deposits	2,640	2,389	2,437	2,213	2,005
Borrowings, short-term	74	115	0	124	0
Borrowings, long-term	4	34	0	—	0
Subordinated notes payable, net	50	50	49	49	20
Accrued expenses and other liabilities	34	31	28	28	23
Total liabilities	2,802	2,620	2,515	2,414	2,051
Preferred stock, Authorized - 1,000,000 shares; Issued - None	0	0	0	0	0
Common stock, par value $0.10 per share; Authorized - 36,000,000 shares; Issued 17,222,680 shares at June 30, 2025 and June 30, 2024 Outstanding 17,026,828 shares at June 30, 2025 and June 30, 2024	2	2	2	2	861,000
Additional paid-in capital	10	10	10	10	11
Retained earnings	241	215	194	165	140
Accumulated other comprehensive loss	−14	−20	−21	−18	−1
Treasury stock, at cost 195,852 shares at June 30, 2025 and June 30, 2024	−908,000	−908,000	−908,000	−908,000	—
Total shareholders equity	239	206	183	158	150
Total liabilities and shareholders equity	3,041	2,826	2,698	2,572	2,200

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-06-30	FY 2024 2024-06-30	FY 2023 2023-06-30	FY 2022 2022-06-30	FY 2021 2021-06-30
Depreciation	1	928,000	871,000	826,000	775,000
Deferred income tax benefit	−706,000	−74,000	−149,000	−682,000	−2
Net (accretion) amortization of investment premiums and discounts	−301,000	297,000	2	3	4
Net amortization of deferred loan costs and fees	383,000	392,000	259,000	−3	−4
Amortization of subordinated debt issuance costs	186,000	186,000	185,000	165,000	67,000
Net gain on equity securities	−74,000	−22,000	−33,000	34,000	−40,000
Net gain on sale of foreclosed real estate	0	−60,000	26,000	−39,000	−66,000
Net increase in accrued income taxes	434,000	322,000	−1	−1,000	−606,000
Net increase in accrued interest receivable	−2	−2	−3	−1	426,000
Net increase in prepaid expenses and other assets	−4	−430,000	133,000	176,000	−934,000
Net increase in accrued expenses and other liabilities	3	2	256,000	6	—
Net cash provided by operating activities	28	25	28	35	28
Proceeds from maturities	210	182	263	243	—
Proceeds from sale of securities	7	0	2	0	—
Purchases of securities	−272	−280	−154	−316	−413
Proceeds from principal payments on securities	57	31	11	30	27
Proceeds from maturities	58	68	70	54	41
Purchases of securities	−172	−50	−58	−354	−214
Proceeds from principal payments on securities	28	16	21	33	58
Net redemption (purchase) of Federal Home Loan Bank Stock	2	−6	5	−6	135,000
Maturity of long-term certificate of deposit	1	2	735,000	425,000	735,000
Surrender of bank owned life insurance	0	23	0	—	—
Purchase of bank owned life insurance	0	−23	0	−12	−40
Net increase in loans receivable	−129	−92	−158	−143	−93
Proceeds from sale of foreclosed real estate	0	362,000	202,000	75,000	302,000
Purchases of premises and equipment	−691,000	−2	−2	−1	−1
Net cash used in investing activities	−210	−129	661,000	−471	−417
Net (decrease) increase in short-term borrowings	−41	115	−124	124	0
Proceeds from long-term borrowings	4	34	0	—	—
Repayment of long-term borrowings	−34	0	—	—	—
Payment of cash dividends	−4	−3	−2	−3	−2
Net increase (decrease) in deposits	251	−48	225	207	504
Net cash provided by financing activities	175	98	99	355	499
Net decrease in cash and cash equivalents	−7	−6	127	−81	109
Interest	58	52	23	5	5
Income taxes	1	2	6	6	6

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