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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) has announced a two-for-one stock split, approved by its Board of Directors, effective for shareholders on record by March 8, 2023. The split will result in shareholders receiving one additional share for each share held, with a total of approximately 17,026,828 shares expected on a split-adjusted basis after March 23, 2023. CEO Donald E. Gibson stated that this move aims to enhance the investment value and liquidity of the stock, reflecting the company's successful year and stock price increase.
Greene County Bancorp, Inc. (NASDAQ: GCBC) reported net income of $7.2 million for Q2 and $16.2 million for the first half of fiscal 2023, marking a 16.0% increase compared to the previous year. Total assets stood at $2.6 billion, with net loans at $1.4 billion. The return on average assets was 1.27%, and return on average equity hit 20.03%. Net interest income rose to $31.8 million for the six months, driven by growth in interest-earning assets. However, noninterest income dipped by 10.6% due to lower investment income. Total deposits increased 2.4% to $2.3 billion. Despite increased expenses, net charge-offs remained stable.
Greene County Bancorp, Inc. (NASDAQ-GCBC) has declared a quarterly cash dividend of $0.14 per share, maintaining an annual dividend rate of $0.56, equivalent to the previous quarter. Shareholders on record as of February 13, 2023 will receive this dividend on February 27, 2023. The majority-owned subsidiary, Greene County Bancorp, MHC, is waiving its dividend receipt. This waiver received member approval and Federal Reserve non-objection for quarterly dividends totaling up to $0.60 per share for four quarters ending through March 31, 2023.
Greene County Bancorp, Inc. (NASDAQ: GCBC) reported a net income of $9.0 million for Q1 of fiscal year 2023, a 27% increase from $7.1 million in Q1 2022. Total assets remain stable at $2.6 billion, with net interest income rising to $15.8 million. The company achieved a return on average assets of 1.43% and return on average equity of 22.55%. Notably, Greene County Bancorp was recognized as a Sm-All Star by Piper Sandler, marking six consecutive years on this prestigious list.
Greene County Bancorp, Inc. (NASDAQ-GCBC) declared a quarterly cash dividend of $0.14 per share, maintaining an annual rate of $0.56. This dividend is set for shareholders of record as of November 15, 2022, with a payment date of November 30, 2022. The company's majority owner, Greene County Bancorp, MHC, will waive its dividend receipt, which has been approved by both its members and the Federal Reserve. Greene County Bancorp operates two banks serving the Hudson Valley Region of New York.
Greene County Bancorp (NASDAQ: GCBC) reported financial results for the quarter and fiscal year ending June 30, 2022, revealing a net income of $6.8 million ($0.80/share) for Q4 and a record $28.0 million ($3.29/share) for the fiscal year, marking a 16.9% increase year-over-year. Total assets reached $2.6 billion, with net interest income rising to $15.1 million in Q4. The bank added to its assets through a significant increase in loans and deposits, which totaled $2.2 billion. However, nonperforming loans rose to $6.3 million. Greene County Bancorp was also added to the Russell 2000 Index.
Greene County Bancorp, Inc. (NASDAQ-GCBC) has announced a quarterly cash dividend of $0.14 per share, reflecting an annual rate of $0.56 per share, a 7.7% increase from the previous rate of $0.52. The dividend, payable on August 31, 2022, is to be distributed to shareholders of record as of August 15, 2022. Notably, the majority owner, Greene County Bancorp, MHC, will waive its dividend receipt for this and upcoming quarters, with approval from the Federal Reserve Bank of Philadelphia.
Greene County Bancorp reported a net income of $7.2 million for Q3 FY2022, a 37% increase from Q3 FY2021. For the nine months ending March 31, 2022, net income reached $21.2 million. Total assets stood at $2.5 billion, driven by a 14.6% increase year-over-year. Net interest income rose to $42.9 million despite declines in margin due to lower yields. Noninterest income surged by 32.8% to $9.1 million. However, provisions for loan losses totaled $2.4 million, reflecting ongoing economic impacts.
Greene County Bancorp, Inc. (NASDAQ-GCBC) declared a quarterly cash dividend of $0.13 per share, maintaining an annual rate of $0.52. This dividend applies to shareholders of record on May 13, 2022, with payment scheduled for May 31, 2022. The company’s majority shareholder, Greene County Bancorp, MHC, plans to receive this dividend, marking a change from previous practices. Greene County Bancorp operates The Bank of Greene County and Greene County Commercial Bank in the Hudson Valley region of New York.
Greene County Bancorp reported a strong financial performance for the second quarter of its fiscal year ended December 31, 2021. Net income reached $6.9 million for the quarter and $14.0 million for the six-month period, marking a 26% increase year-over-year. Total assets stood at $2.3 billion, with strong asset quality and capital. The company highlighted a significant increase in net interest income and solid deposit growth, though asset yields decreased. Noninterest expense rose due to new hires. The bank remains vigilant about the impacts of COVID-19 on borrowers.
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