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) 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.
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 recorded by February 15, 2022, with payment scheduled for February 28, 2022. Notably, the majority-owned subsidiary, Greene County Bancorp, MHC, has waived its receipt of this dividend following member approval and non-objection from the Federal Reserve Bank of Philadelphia.
Greene County Bancorp reported a net income of $7.1 million for Q1 FY2022, marking a 45.9% increase from $4.9 million in Q1 FY2021. Total assets reached a record $2.3 billion, with a return on average assets of 1.28% and return on average equity of 18.60%. Net interest income rose to $14.4 million, boosted by loan growth and SBA PPP fees. However, noninterest expenses increased 11.6% to $8.0 million, primarily due to new hires. Despite strong performance, the company continues to monitor the impact of the COVID-19 pandemic on credit quality.
Greene County Bancorp, Inc. (NASDAQ-GCBC) has announced a quarterly cash dividend of $0.13 per share for the period ending September 30, 2021. This maintains the annual cash dividend rate at $0.52, consistent with the previous quarter. Shareholders of record by November 15, 2021, will receive the dividend on November 30, 2021. Notably, the majority shareholder, Greene County Bancorp, MHC, is waiving its dividend entitlement, having obtained the necessary approvals for this decision.
Greene County Bancorp, Inc. (NASDAQ: GCBC) reported a record net income of $23.9 million for the fiscal year ending June 30, 2021, a 27.9% increase from the previous year. Quarterly net income was $7.6 million, up 62% year-over-year. Total assets reached a new high of $2.2 billion, driven by a 33.6% increase in deposits, reaching $2 billion. The company maintained strong asset quality with a 1.24% return on average assets. However, they continue to monitor the impact of COVID-19 on credit relationships as loan deferrals have declined significantly.
Greene County Bancorp, Inc. (NASDAQ-GCBC) announced a quarterly cash dividend of $0.13 per share, an annual rate of $0.52, marking an 8.3% increase from last year. This dividend will be paid to shareholders of record as of August 16, 2021, with expected payment on August 31, 2021. The majority-owned subsidiary, Greene County Bancorp, MHC, is waiving its dividend receipt while receiving member approval. Greene County Bancorp serves the Hudson Valley Region in New York through its banking subsidiaries.
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