Gouverneur Bancorp, Inc. (GOVB) reports as the holding company for Gouverneur Savings and Loan Association, a banking institution whose results are driven primarily by net interest income from loans and securities funded by deposits and other interest-bearing liabilities.
Recurring company updates cover quarterly and annual earnings, net interest margin, credit-loss provisions, deposit and loan trends, securities portfolio changes, semi-annual cash dividends, stock repurchase authorizations, governance changes and the Bank’s completed conversion from a mutual holding company form to a stock holding company form.
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Gouverneur Bancorp, Inc. (OTC Pink: GOVB) announced a leadership change with the resignation of Faye C. Waterman as President and CEO, effective April 14, 2023. The Board thanked Mr. Waterman for his service and appointed Charles C. Van Vleet, Jr., the current director and former CEO, to temporarily lead the organization during the search for a permanent successor. At year-end December 31, 2022, Gouverneur Bancorp reported total assets of $205.20 million, total deposits of $170.56 million, and total stockholders’ equity of $26.13 million. This transition in leadership may influence strategic direction and investor confidence as the company navigates this period of change.
Gouverneur Bancorp (OTC Pink: GOVB) announced a $0.10 semi-annual dividend, marking its 47th consecutive payout. Shareholders of record on March 15th, 2023, will receive this payment on March 31st, 2023. Following the acquisition of Citizens Bank of Cape Vincent in September 2022, the dividend increase reflects the company's strength and confidence in future growth.