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Gouverneur Bancorp Inc (GOVB) provides community-focused banking services through deposit accounts, lending solutions, and financial advisory. This page serves as the central hub for all official news and press releases from the company, offering investors and stakeholders timely updates on its operations and market position.
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Gouverneur Bancorp (OTCQB: GOVB) has reported its fiscal 2025 second quarter and six-month results. The company achieved net income of $118,000 ($0.11 per share) for Q2 2025, up from $102,000 ($0.10 per share) in Q2 2024. For the six months ended March 31, 2025, net income reached $278,000 ($0.27 per share), compared to $220,000 ($0.21 per share) in the same period of 2024.
Key financial metrics as of March 31, 2025:
- Total assets: $197.4 million (slight increase from $197.3 million)
- Net loans: Increased by $1.1 million (0.91%)
- Deposits: Rose to $161.8 million (up 1.20%)
- Shareholders' equity: $31.4 million (decreased 4.30%)
The net interest margin remained stable at 4.06% for Q2 2025. The company declared dividends of $0.08 per share totaling $89,000 during the six months. Book value per share was $29.63 based on 1,058,399 shares outstanding at March 31, 2025.
Gouverneur Bancorp (OTCQB: GOVB) has declared a semi-annual cash dividend of $0.08 per common share, payable on May 19, 2025, to shareholders of record as of May 5, 2025. This represents the second consecutive semi-annual dividend since the Bank's conversion from mutual holding company to stock holding company structure.
The company, through its subsidiary Gouverneur Savings and Loan Association, provides deposit and loan services for businesses, families, and individuals. As of December 31, 2024, the company reported:
- Total assets: $196.8 million
- Total deposits: $159.7 million
- Total stockholders' equity: $31.7 million
Gouverneur Bancorp (OTCQB: GOVB) reported net income of $160,000 ($0.15 per share) for Q1 FY2025 ended December 31, 2024, up from $118,000 ($0.11 per share) in Q1 FY2024. Total assets decreased by $0.5 million to $196.8 million, while net loans increased by $0.7 million. Securities available for sale decreased by $1.8 million to $43.5 million.
Interest income rose by $38,000 to $2.2 million, while interest expense increased by $77,000 to $401,000. The net interest spread decreased slightly to 3.78% from 3.84%. Deposits decreased marginally to $159.7 million, and shareholders' equity declined by 3.12% to $31.7 million, primarily due to a $1.1 million decrease in the securities portfolio market value.
Gouverneur Bancorp (GOVB) has announced a stock repurchase program authorizing the buyback of up to 55,356 shares, representing 5% of its outstanding common stock. The program will be executed through open market purchases and private negotiations, running until December 10, 2025 or until completion. The company, which operates through Gouverneur Savings and Loan Association, reported total assets of $195.1 million, deposits of $153.4 million, and stockholders' equity of $31.7 million as of June 30, 2024.
Gouverneur Bancorp (OTCQB: GOVB) reported Q4 fiscal 2024 net income of $136,000 ($0.13 per share), up from $86,000 ($0.04 per share) in Q4 2023. For fiscal year 2024, net income was $539,000 ($0.51 per share), compared to $317,000 ($0.16 per share) in 2023. The company completed its second-step conversion on October 31, 2023, raising $7.2 million by selling 723,068 shares at $10 per share. Total assets decreased 4.19% to $197.3 million, while deposits increased 0.71% to $159.9 million. Net interest spread declined to 3.86% from 4.14% in the previous year.
Gouverneur Bancorp, Inc. (OTCQB: GOVB), the holding company for Gouverneur Savings and Loan Association, has declared a semi-annual cash dividend of $0.08 per common share. The dividend will be paid on or about November 18, 2024 to shareholders of record as of November 4, 2024. This marks the first cash dividend since the Bank's conversion from a mutual holding company to a stock holding company structure.
Gouverneur Savings and Loan Association, founded in 1892, offers deposit and loan services for businesses, families, and individuals. As of June 30, 2024, the Company reported total assets of $195.1 million, total deposits of $153.4 million, and total stockholders' equity of $31.7 million.
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