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 reported a net income of $5.3 million for the third quarter of fiscal 2021, up 29% from $4.1 million in Q3 2020. For the nine months ended March 31, 2021, net income reached $16.3 million, a $2.3 million increase year-over-year. Total assets surpassed $2 billion, marking a new milestone. The bank also reported a strong return on assets of 1.17% and return on equity of 16.12%. Despite challenges posed by COVID-19, asset quality remained stable, with nonperforming loans decreasing to 0.25% of net loans.
Greene County Bancorp, Inc. (NASDAQ-GCBC) announced a quarterly cash dividend of $0.12 per share, maintaining an annual rate of $0.48 per share, consistent with the previous quarter. The dividend is payable to shareholders of record as of May 15, 2021, with a payment date of May 28, 2021. The majority owner, Greene County Bancorp, MHC, is waiving its dividend receipt, approved by its members and the Federal Reserve Bank of Philadelphia, for total dividends up to $0.60 per share for four quarters ending March through December 2021.
Greene County Bancorp reported a net income of $6.2 million for Q2 FY2021, marking an increase from $5.1 million in Q2 FY2020. For the six months ending December 31, 2020, net income reached $11.1 million, up from $10 million year-over-year. The bank, with total assets of $1.9 billion, reported increased net interest income driven by growth in interest-earning assets. However, the COVID-19 pandemic poses continuing uncertainties, impacting loan repayment abilities and necessitating a rise in loan loss provisions to $1.3 million.
Greene County Bancorp (NASDAQ-GCBC) has announced a quarterly cash dividend of $0.12 per share for the quarter ending December 31, 2020. This maintains an annual dividend rate of $0.48, consistent with the previous quarter. The dividend is payable on February 26, 2021, to shareholders of record as of February 15, 2021. The company’s majority owner, Greene County Bancorp, MHC, which usually waives cash dividends, will not do so for this payment, indicating a focus on cash flow and liquidity.
Greene County Bancorp, Inc. announced the retirement of Stephen Nelson and the appointment of Perry Lasher as EVP & Chief Lending Officer. Nelson, who has been with the company since 1988 and served as Chief Lending Officer since 2008, is transitioning into retirement. Lasher, a member of the bank since 2007, has over 30 years of banking experience and has held various roles, enhancing his qualifications for this new position. This leadership change aims to ensure continuity and leverage Lasher's experience within the bank's operations.
Greene County Bancorp, Inc. has announced the appointment of Paul Slutzky as the new Chairman of the Board, succeeding Martin Smith who is retiring after serving since 1993. Slutzky, a board member since 1992, brings over 40 years of experience in business leadership and financial expertise. In his statement, he emphasized the bank's commitment to revitalizing local economies affected by the coronavirus pandemic. Donald Gibson, the CEO, expressed confidence in Slutzky's leadership while thanking Smith for his dedication. The bank remains a community-focused financial institution.
Greene County Bancorp reported net income of $4.9 million for Q1 of FY 2021, unchanged from the same period last year. Earnings per share stood at $0.57. Despite increasing provisions for loan losses by $750,000 due to COVID-19, net interest income increased by $1.3 million to $11.8 million. The company opened a new branch in Albany, NY, enhancing its market presence. Total assets rose by 7.3% to $1.8 billion, while consolidated deposits reached $1.6 billion.
Greene County Bancorp, Inc. (NASDAQ-GCBC) has declared a quarterly cash dividend of $0.12 per share, maintaining an annual rate of $0.48 per share, consistent with the previous quarter. This dividend is set for shareholders on record as of November 13, 2020, and will be paid on November 30, 2020. The majority owner, Greene County Bancorp, MHC, has opted to waive its receipt of this dividend, following approvals from its members and the Federal Reserve Bank of Philadelphia.
Greene County Bancorp, Inc. (GCBC) reported a net income of $4.7 million for Q4 and $18.7 million for the fiscal year ending June 30, 2020, marking increases of 12.9% and 7.1%, respectively, compared to the previous year. Total assets reached $1.7 billion, with consolidated deposits at $1.5 billion. The company also processed $99.8 million in PPP loans, further enhancing liquidity. However, net interest margin and spread decreased due to lower interest rates. The provision for loan losses increased significantly due to the COVID-19 pandemic, underscoring ongoing challenges in the financial landscape.