$GCBC

GREENE COUNTY BANCORP INC

CIK:0001070524|SEC Filings

Consolidated Statements of Income - USD ($) $ in Thousands	12 Months Ended
Consolidated Statements of Income - USD ($) $ in Thousands	Jun. 30, 2026	Jun. 30, 2025
Interest income:
Loans	$ 89,465	$ 79,979
Investment securities - tax exempt	21,677	19,648
Investment securities - taxable	17,921	14,574
Interest-bearing deposits and federal funds sold	2,064	3,504
Total interest income	131,127	117,705
Interest expense:
Interest on deposits	51,141	55,058
Interest on borrowings	2,072	2,526
Total interest expense	53,213	57,584
Net interest income	77,914	60,121
Provision for credit losses	2,033	1,316
Net interest income after provision for credit losses	75,881	58,805
Noninterest income:
Service charges on deposit accounts	5,077	4,874
Debit card fees	4,494	4,382
Investment services	1,168	1,088
E-commerce fees	121	110
Bank-owned life insurance	2,755	2,545
Loss on sale of securities available-for-sale	(576)	(665)
Other operating income	1,628	2,899
Total noninterest income	14,667	15,233
Noninterest expense:
Salaries and employee benefits	26,717	24,415
Occupancy expense	2,873	2,629
Equipment and furniture expense	900	791
Service and data processing fees	3,196	2,931
Computer software, supplies and support	2,000	1,631
Advertising and promotion	506	486
FDIC insurance premiums	1,480	1,373
Legal and professional fees	1,487	1,353
Other expenses	4,557	3,763
Total noninterest expense	43,716	39,372
Income before provision for income taxes	46,832	34,666
Provision for income taxes	5,810	3,528
Net income	$ 41,022	$ 31,138
Basic earnings per share (in Dollars per share)	$ 2.41	$ 1.83
Basic average shares outstanding (in Shares)	17,025,485	17,026,828
Diluted earnings per share (in Dollars per share)	$ 2.41	$ 1.83
Diluted average shares outstanding (in Shares)	17,025,485	17,026,828
Dividends per share (in Dollars per share)	$ 0.4	$ 0.36

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Cash flows from operating activities:
Net Income	$ 41,022	$ 31,138
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation	1,134	1,065
Deferred income tax benefit	(1,647)	(706)
Net accretion of investment premiums and discounts	(2,384)	(301)
Net amortization of deferred loan costs and fees	404	383
Amortization of subordinated debt issuance costs	112	186
Provision for credit losses	2,033	1,316
Bank-owned life insurance income	(2,755)	(2,545)
Net loss on sale of securities available-for-sale	576	665
Net loss (gain) on equity securities	14	(74)
Net increase in accrued income taxes	437	434
Net increase in accrued interest receivable	(803)	(2,112)
Net decrease (increase) in prepaid expenses and other assets	416	(4,075)
Net increase in accrued expenses and other liabilities	3,740	2,604
Net cash provided by operating activities	42,299	27,978
Securities available-for-sale:
Proceeds from maturities	266,800	209,744
Proceeds from sale of securities	8,299	6,676
Purchases of securities	(558,112)	(271,781)
Proceeds from principal payments on securities	268,032	57,430
Securities held-to-maturity:
Proceeds from maturities	70,652	58,204
Purchases of securities	(136,086)	(172,377)
Proceeds from principal payments on securities	39,320	28,102
Net (purchase) redemption of Federal Home Loan Bank Stock	(2,273)	1,792
Maturity of long-term certificates of deposit	200	1,400
Purchase of bank owned life insurance	(6,345)	0
Net increase in loans receivable	(126,678)	(128,665)
Purchases of premises and equipment	(741)	(691)
Net cash used in investing activities	(176,932)	(210,166)
Cash flows from financing activities:
Net increase (decrease) in short-term borrowings	45,000	(41,300)
Proceeds from long-term borrowings	1,977	4,189
Repayment of long-term borrowings	0	(34,156)
Repayment of subordinated notes payable	(20,000)	0
Purchase of treasury stock	(32)	0
Payment of cash dividends	(4,049)	(4,475)
Net increase in deposits	73,564	250,613
Net cash provided by financing activities	96,460	174,871
Net decrease in cash and cash equivalents	(38,173)	(7,317)
Cash and cash equivalents at beginning of year	183,078	190,395
Cash and cash equivalents at end of year	144,905	183,078
Cash paid during period for:
Interest	53,229	57,864
Income taxes	$ 2,268	$ 1,168

Consolidated Statements of Financial Condition - USD ($)
$ in Thousands

Jun. 30, 2026

Jun. 30, 2025

Consolidated Statements of Financial Condition [Abstract]

Cash and due from banks

$ 12,306

$ 12,788

Interest-bearing deposits

132,599

170,290

Total cash and cash equivalents

144,905

183,078

Long-term certificates of deposit

1,225

1,425

Securities available-for-sale, at fair value

373,810

356,062

Securities held-to-maturity, at amortized cost, net of allowance for credit losses of $530 and $548

803,553

776,147

Equity securities, at fair value

388

402

Federal Home Loan Bank stock, at cost

7,777

5,504

Loans receivable

^[1],[2]

1,753,342

1,627,406

Allowance for credit losses on loans

(21,859)

(20,146)

Net loans receivable

1,731,483

1,607,260

Premises and equipment, net

14,839

15,232

Bank-owned life insurance

68,895

59,795

Accrued interest receivable

17,184

16,381

Prepaid expenses and other assets

19,368

19,323

Total assets

3,183,427

3,040,609

LIABILITIES AND SHAREHOLDERS’ EQUITY

Noninterest-bearing deposits

140,229

110,163

Interest-bearing deposits

2,573,170

2,529,672

Total deposits

2,713,399

2,639,835

Borrowings, short-term

119,000

74,000

Borrowings, long-term

6,166

4,189

Subordinated notes payable, net

29,979

49,867

Accrued expenses and other liabilities

37,052

33,881

Total liabilities

2,905,596

2,801,772

SHAREHOLDERS' EQUITY

Preferred stock, Authorized - 1,000,000 shares; Issued - None

Common stock, par value $0.10 per share; Authorized - 36,000,000 shares; Issued – 17,222,680 shares; Outstanding – 17,025,485 and 17,026,828 shares

1,722

Additional paid-in capital

10,156

Retained earnings

278,376

241,403

Accumulated other comprehensive loss

(11,483)

(13,536)

Treasury stock, at cost – 197,195 and 195,852 shares

(940)

(908)

Total shareholders’ equity

277,831

238,837

Total liabilities and shareholders’ equity

$ 3,183,427

$ 3,040,609

[1]	Loan balances exclude accrued interest receivable of $7.7 million and $7.0 million at June 30, 2026 and 2025, respectively, which is included in accrued interest receivable in the consolidated statements of financial condition.
[2]	Loan balances include net deferred (fees)/costs of ($397,000) and ($567,000) at June 30, 2026 and 2025, respectively.