GCBCMEDIUM SIGNALFINANCIAL10-K

Greene County Bancorp reported solid growth across key metrics with net income rising 25.7% and net interest income expanding 13.5% year-over-year.

The bank demonstrated healthy profitability growth while maintaining strong deposit growth of 10.5%, indicating successful balance sheet expansion. The meaningful increase in dividends paid (+38.1%) suggests management confidence in sustained earnings power and commitment to shareholder returns.

Comparing 2025-09-05 vs 2024-09-06View on EDGAR →
FINANCIAL ANALYSIS

GCBC delivered broad-based financial improvements with net income growing notably to $31.1M and net interest income expanding to $117.7M, reflecting effective asset deployment in the current rate environment. Operating cash flow strengthened modestly to $28.0M while the bank substantially reduced capital expenditures from $1.5M to $691K. The combination of growing deposits, expanding stockholders' equity to $238.8M, and increased dividend distributions signals a well-capitalized institution generating solid returns for shareholders.

FINANCIAL STATEMENT CHANGES
Capital Expenditure
Cash Flow
-54.1%
$1.5M$691K

Capex reduced 54.1% — investment cycle winding down or capital discipline; may improve near-term free cash flow.

Dividends Paid
Cash Flow
+38.1%
$3.2M$4.5M

Dividend payments increased 38.1% — management confidence in sustained cash generation.

Net Income
P&L
+25.7%
$24.8M$31.1M

Net income grew 25.7% — bottom-line growth signals improving overall business health.

Stockholders Equity
Balance Sheet
+15.9%
$206.0M$238.8M

Equity base grew 15.9% — retained earnings accumulation or equity issuance strengthening the balance sheet.

Net Interest Income
P&L
+13.5%
$103.7M$117.7M

Net interest income grew 13.5% — benefiting from rate environment or loan book expansion.

Operating Cash Flow
Cash Flow
+12.3%
$24.9M$28.0M

Operating cash flow grew 12.3% — strong conversion of earnings to cash, healthy business fundamentals.

Revenue
P&L
+11.1%
$3.7M$4.1M

Revenue growing 11.1% — solid top-line momentum, watch margins for quality of growth.

Total Deposits
Balance Sheet
+10.5%
$2.4B$2.6B

Deposits grew 10.5% — expanding customer base or increased trust in the institution.

LANGUAGE CHANGES
NEW — 2025-09-05
PRIOR — 2024-09-06
ADDED
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C.
Computed by reference to the closing price of Common Stock of $27.72 on December 31, 2024, the aggregate value of stock held by non-affiliates was $ 177,217 ,000.
As of September 4, 2025, there were 17,026,828 shares outstanding of the Registrant's common stock.
At June 30, 2025, 7,808,300 shares of Greene County Bancorp, Inc.
in exchange for 100.0% of the common stock of Greene Property Holdings, Ltd.
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REMOVED
Computed by reference to the closing price of Common Stock of $28.20 on December 31, 2023, the aggregate value of stock held by non-affiliates was $ 179,230 ,000.
As of September 5, 2024, there were 17,026,828 shares outstanding of the Registrant s common stock.
At June 30, 2024, 7,808,300 shares of Greene County Bancorp, Inc.
in exchange for 100% of the common stock of Greene Property Holdings, Ltd.
( GRM ) was formed in December 2014 as a pooled captive insurance company subsidiary of Greene County Bancorp, Inc., incorporated in the State of Nevada.
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