Welcome to our dedicated page for Greene Cnty Bancorp news (Ticker: GCBC), a resource for investors and traders seeking the latest updates and insights on Greene Cnty Bancorp stock.
Greene County Bancorp Inc (GCBC) delivers community-focused banking through The Bank of Greene County, offering deposit services, commercial lending, and specialized financial solutions. This news hub provides investors and stakeholders with essential updates about strategic initiatives, regulatory developments, and market positioning.
Access authoritative reporting on GCBC's financial disclosures, including earnings results and capital management strategies. Track updates on residential/commercial lending programs, digital banking enhancements, and community partnership initiatives that reflect the institution's commitment to local economic growth.
Discover timely information about leadership changes, regulatory compliance updates, and service expansions. Our curated collection ensures transparent access to press releases and third-party analyses relevant to GCBC's performance in the competitive Northeast banking sector.
Bookmark this page for streamlined monitoring of GCBC's operational milestones. Combine fundamental analysis with real-time news to better understand this community bank's approach to deposit growth, credit risk management, and shareholder value creation.
Greene County Bancorp, Inc. (NASDAQ: GCBC) reported net income of $24.8 million for the fiscal year ended June 30, 2024, a decrease of 19.5% from the previous year. Despite challenges from an inverted yield curve, the company achieved record highs in total assets ($2.8 billion) and net loans ($1.5 billion). Key financial metrics include:
- Return on Average Assets: 0.93%
- Return on Average Equity: 12.87%
- Net interest income: $51.0 million (down from $61.2 million)
- Noninterest income: $13.9 million (up 14.5%)
- Noninterest expense: $37.3 million (down 3.4%)
The company was selected for the "2024 KBW Bank Honor Roll" for the thirteenth consecutive year, recognizing consistent earnings growth. The decrease in net income was primarily due to net interest margin compression in the current interest rate environment.
Greene County Bancorp, Inc. (NASDAQ: GCBC) has announced a 12.5% increase in its annual cash dividend, raising it from $0.32 to $0.36 per share. The company's Board of Directors approved a quarterly cash dividend of $0.09 per share on common stock. This dividend will be paid to shareholders of record as of August 15, 2024, with an expected payment date of August 30, 2024.
Greene County Bancorp, Inc. is majority-owned by Greene County Bancorp, MHC, which owns 54.1% of outstanding common shares. Notably, the MHC does not intend to waive its receipt of dividends for the quarter ended June 30, 2024, departing from its historical practice.
FAQ
What is the current stock price of Greene Cnty Bancorp (GCBC)?
What is the market cap of Greene Cnty Bancorp (GCBC)?
