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) is a Catskill, New York-based bank holding company for The Bank of Greene County and Greene County Commercial Bank, serving the Hudson Valley and Capital District Regions of New York State. This news page aggregates company-issued updates and market coverage related to GCBC stock and its community banking operations.
Readers can follow earnings announcements in which the company reports net income, total assets, net loans, total deposits and measures such as return on average assets and return on average equity. These releases often discuss pre-provision net income, net interest income, net interest margin, and the impact of Federal Reserve interest rate decisions on asset yields and deposit costs.
News items also cover dividend declarations, detailing quarterly cash dividends on GCBC common stock, the annualized dividend rate, and record and payment dates. The company frequently notes the role of Greene County Bancorp, MHC, its federal mutual holding company majority owner, including whether the mutual holding company intends to waive receipt of particular dividends and any related regulatory nonobjection.
Additional coverage highlights balance sheet developments, such as reaching new milestones in total assets, loan growth in commercial real estate, commercial and home equity segments, changes in deposit mix, and activity in securities portfolios and borrowings. Credit quality disclosures, including provisions for credit losses, allowance levels, classifications of substandard or special mention loans, and nonperforming asset ratios, are also summarized in news releases.
Investors and observers interested in GCBC’s role as a community-based savings institution, its expansion within New York State, and its financial performance can use this page to review recent press releases, regulatory news and other updates related to Greene County Bancorp, Inc. and its Nasdaq-listed common stock.
Greene County Bancorp (NASDAQ:GCBC) has declared a quarterly cash dividend of $0.09 per share, maintaining an annual rate of $0.36 per share. The dividend will be paid on February 28, 2025, to shareholders of record as of February 14, 2025.
Greene County Bancorp MHC, which owns 54.1% of the company's outstanding shares, will waive its dividend receipt. The Federal Reserve Bank of Philadelphia has granted approval for MHC to waive dividends up to $0.48 per share for the four quarters ending December 31, 2024, through September 30, 2025.
The company operates through its subsidiaries, Bank of Greene County and Greene County Commercial Bank, serving the Hudson Valley Region and Capital District Region in New York State.
Greene County Bancorp, Inc. (NASDAQ: GCBC) reported net income of $6.3 million for the three months ended September 30, 2024, a slight decrease from $6.5 million in the same period last year. The company reached a new milestone of $2.9 billion in total assets, with record highs in deposits ($2.5 billion) and net loans ($1.5 billion). Key financial metrics include:
- Return on Average Assets: 0.93%
- Return on Average Equity: 11.86%
- Net interest income: $13.1 million (decreased $303,000 from previous year)
- Noninterest income: $3.7 million (increased $438,000)
- Noninterest expense: $9.6 million (increased $705,000)
The company maintained strong capital and liquidity positions, with total cash and cash equivalents of $213.5 million. The allowance for credit losses on loans to total loans receivable was 1.32%. Despite challenges in the higher interest rate environment, Greene County Bancorp continues to focus on providing innovative financial solutions and outstanding service to customers throughout the Hudson Valley and Capital Region of New York State.
Greene County Bancorp, Inc. (NASDAQ-GCBC) has announced a quarterly cash dividend of $0.09 per share on its common stock. This reflects an annual cash dividend rate of $0.36 per share, consistent with the previous quarter's dividend. The dividend for the quarter ended September 30, 2024, will be paid to shareholders of record as of November 15, 2024, with an expected payment date of November 29, 2024.
Greene County Bancorp, MHC, which owns 54.1% of the Company's outstanding common shares, does not intend to waive its receipt of these dividends for the quarter ended September 30, 2024. The Company is the holding company for The Bank of Greene County and Greene County Commercial Bank, operating primarily in the Hudson Valley Region and Capital District Region of New York State.
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.
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