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.
Gouverneur Bancorp, Inc. (OTC Pink: GOVB) reported fiscal year 2021 results, demonstrating resilience following COVID-19 disruptions. Total revenue reached $6.20 million, up from $4.30 million in 2020, with net income increasing 380.05% to $1,067,000 or $0.53 per diluted share. However, adjusted net income decreased by 29.69% to $322,000, or $0.16 per share. Notably, non-interest income surged to $2,093,000 from a loss of $191,000 in 2020. The Bank remains well-capitalized with a core capital ratio of 19.76%, alongside a 10.52% increase in deposits.
Gouverneur Bancorp, Inc. (OTCIQ: GOVB) reported its financial results for Q3 FY2021, showing a net income of $104,000 compared to $45,000 in Q3 FY2020. The Company saw an increase in deposits by $5.98 million, totaling $97.14 million as of June 30, 2021. Total assets rose by 2.75% to $132.82 million, while net loans decreased by $0.51 million. Adjusted net income for the nine months ended June 30, 2021, was $274,000, a slight increase from the previous year. The Company’s book value per share stands at $13.51.
Gouverneur Bancorp (OTCIQ: GOVB) has declared a semi-annual dividend of $0.12 per share, payable on September 30, 2021, to shareholders of record as of September 15, 2021. This marks the company's 44th consecutive semi-annual dividend, reflecting its ongoing success in maintaining competitive dividends despite challenging economic conditions. The bank's management continues to monitor potential pandemic impacts on future financial performance and dividend declarations.
Gouverneur Bancorp, Inc. (OTC Pink: GOVB) reported its Q2 fiscal 2021 results, showing a rebound from COVID-19 disruptions. For the six months ending March 31, 2021, net income rose to $807,000, or $0.40 per diluted share, compared to a loss of $637,000 in 2020. Deposits increased by 3.86% to $94.68 million, while total assets decreased slightly to $128.83 million. The company declared a semi-annual cash dividend of $0.12 per share to shareholders. Adjusted net income saw a decrease to $83,000 from $174,000 a year ago, reflecting ongoing challenges in the financial landscape.
Gouverneur Bancorp, Inc. (OTC Pink: GOVB) announced a semi-annual dividend of $0.12 per share, payable on March 31, 2021, to stockholders of record as of March 15, 2021. This marks the Company’s 43rd consecutive semi-annual dividend, showcasing its commitment to providing competitive dividends for over twenty-one years. President Charles C. Van Vleet acknowledged the challenges posed by the ongoing pandemic and indicated that the Company is monitoring its financial performance and future dividend possibilities.
Gouverneur Bancorp, Inc. (OTCPink: GOVB) announces the retirement of President and CEO Charles C. Van Vleet Jr. effective May 28, 2021, as accepted during the annual meeting on February 8, 2021. The Board recognizes Van Vleet's significant contributions over nearly 25 years. Faye C. Waterman has been appointed as the new CEO, having served as Executive Vice President since November 2018. Van Vleet will remain on the Board of Directors post-retirement. Gouverneur Bancorp, founded in 1892, provides banking services in St. Lawrence, Lewis, and Jefferson Counties, New York.