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.
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Greene County Bancorp (GCBC) reported a robust financial performance for its third fiscal quarter ending March 31, 2023, with net income rising to $8.1 million ($0.48 per share) for the quarter, compared to $7.2 million ($0.42 per share) during the same period in 2022. For the nine months, net income reached $24.3 million, up 14.9% from $21.2 million in the previous year. Total assets increased to $2.7 billion, with deposits also rising to $2.5 billion. The company reported a return on average assets of 1.26% and 19.51% on average equity. Notably, the firm was included in S&P Global’s best-performing community banks list for 2022 in the Northeast. Despite challenges in the banking sector, its long-term strategy focusing on local markets remains effective.
Greene County Bancorp, Inc. (NASDAQ-GCBC) announced a quarterly cash dividend of $0.07 per share, reflecting an annual rate of $0.28. This is unchanged from the prior quarterly dividend on a pre-split adjusted basis, following a 2-for-1 stock split executed on March 23, 2023. The dividend will be payable on May 31, 2023, to shareholders on record as of May 15, 2023. The majority owner, Greene County Bancorp, MHC, which holds 54.1% of the company’s shares, has waived its dividend receipt. This waiver follows approval from MHC members and the Federal Reserve Bank of Philadelphia for cash dividends aggregating up to $0.30 per share on a split-adjusted basis for four quarters ending March 31, 2023.
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.
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