Financial Performance - Net income for the quarter ended March 31, 2025, was $8.1 million, a 37.4% increase from $5.9 million for the same quarter in 2024[2] - Net income for the nine months ended March 31, 2025, was $21.8 million, compared to $18.0 million for the same period in 2024, reflecting a growth of 20.5%[22] - Basic and diluted earnings per share (EPS) increased to $0.47 for the three months ended March 31, 2025, compared to $0.34 for the same period in 2024[22] - Pre-provision net income increased by $5.0 million, or 26.6%, to $24.0 million for the nine months ended March 31, 2025, compared to $19.0 million for the same period in 2024[4] - Pre-provision net income for Q1 2025 reached $9,138,000, up 48.4% from $6,151,000 in Q1 2024[30] Assets and Loans - Total consolidated assets reached a new record high of $3.0 billion as of March 31, 2025, up from $1.0 billion in 2018[2] - Net loans amounted to $1.6 billion at March 31, 2025, marking a new record high[3] - Net loans receivable rose by $118.0 million, or 8.0%, to $1.6 billion at March 31, 2025, driven primarily by $111.9 million in commercial real estate loans[13] - Average interest-earning assets for Q1 2025 were $2,789,102,000, compared to $2,583,271,000 in Q1 2024, reflecting a growth of 8.0%[28] - The average interest-earning assets for the nine months ended March 31, 2025, were $2,711,083,000, up from $2,556,441,000 in the same period of 2024, indicating a growth of 6.0%[28] Deposits - Total deposits were $2.7 billion at March 31, 2025, also a new record high[3] - Deposits totaled $2.7 billion at March 31, 2025, an increase of $265.5 million, or 11.1%, from $2.4 billion at June 30, 2024[13] Income and Expenses - Net interest income rose by $3.9 million to $16.2 million for the quarter ended March 31, 2025, compared to $12.3 million for the same quarter in 2024[5] - Noninterest income increased by $444,000, or 13.0%, to $3.9 million for the quarter ended March 31, 2025[8] - Noninterest expense increased by $808,000, or 8.8%, to $10.0 million for the quarter ended March 31, 2025, compared to $9.2 million for the same quarter in 2024[11] - The efficiency ratio improved to 50.04% for the three months ended March 31, 2025, down from 58.79% for the same period in 2024[22] Credit Quality - The provision for credit losses on loans was $1.1 million for the quarter ended March 31, 2025, compared to $277,000 for the same quarter in 2024[10] - Nonperforming loans decreased to $2.9 million at March 31, 2025, from $3.7 million at June 30, 2024[10] - The company maintained a non-performing loans to net loans ratio of 0.18% as of March 31, 2025, down from 0.39% a year earlier[22] Return on Equity - The company reported a return on average equity of 14.41% for the three months ended March 31, 2025, compared to 11.92% for the same period in 2024[22]

CATSKILL, N.Y., April 22, 2025 (GLOBE NEWSWIRE) -- Greene County Bancorp, Inc. (the "Company") (NASDAQ:GCBC), the holding company for the Bank of Greene County and its subsidiary Greene County Commercial Bank, today reported net income for the three and nine months ended March 31, 2025, which is the third quarter of the Company's fiscal year ending June 30, 2025. Net income for the three and nine months ended March 31, 2025 was $8.1 million, or $0.47 per basic and diluted share, and $21.8 million, or $1.28 ...

CATSKILL, N.Y., April 22, 2025 (GLOBE NEWSWIRE) -- Greene County Bancorp, Inc. (the “Company”) (NASDAQ: GCBC), the holding company for the Bank of Greene County and its subsidiary Greene County Commercial Bank, today reported net income for the three and nine months ended March 31, 2025, which is the third quarter of the Company’s fiscal year ending June 30, 2025. Net income for the three and nine months ended March 31, 2025 was $8.1 million, or $0.47 per basic and diluted share, and $21.8 million, or $1.28 ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT UNDER SECTION 13 OF 15(d) OF THE SECURITIES AND EXCHANGE ACT OF 1934 FOR THE QUARTERLY PERIOD ENDED DECEMBER 31, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OF 15(d) OF THE SECURITIES EXCHANGE ACT Commission File Number: 0-25165 GREENE COUNTY BANCORP, INC. (Exact Name of Registrant as Specified in its Charter) United States 14-1809721 (State or other jurisdiction of incorporation or organization) (I.R ...

Financial Performance - Net income for the three months ended December 31, 2024, was $7.5 million, an increase of 31.2% compared to $5.7 million for the same period in 2023[2] - Net income for the six months ended December 31, 2024, was $13.8 million, compared to $12.2 million for the same period in 2023, reflecting a growth of 12.9%[21] - Net income for Q4 2024 was $7,490,000, representing a 31.3% increase from $5,707,000 in Q4 2023[29] - Pre-provision net income increased by $2.1 million, or 16.1%, to $14.9 million for the six months ended December 31, 2024, compared to $12.8 million for the same period in 2023[4] - Pre-provision net income for Q4 2024 was $7,968,000, an increase of 35.5% from $5,877,000 in Q4 2023[29] - Pre-provision net income for the six months ended December 31, 2024, was $14,863,000, an increase of 16.3% from $12,803,000 in the same period of 2023[29] Assets and Liabilities - Total consolidated assets reached a record high of $2.97 billion at December 31, 2024, with net loans of $1.53 billion and total deposits of $2.47 billion[3] - Total assets increased by $140.0 million, or 5.0%, to $2.97 billion at December 31, 2024, compared to $2.83 billion at June 30, 2024[12] - Net loans receivable rose by $51.0 million, or 3.4%, to $1.53 billion at December 31, 2024, driven primarily by $46.4 million in commercial real estate loans[12] - Deposits totaled $2.5 billion at December 31, 2024, an increase of $78.0 million, or 3.3%, from $2.4 billion at June 30, 2024[12] - Securities available-for-sale and held-to-maturity increased by $105.0 million, or 10.1%, to $1.1 billion at December 31, 2024[12] Income and Expenses - Net interest income rose by $1.7 million to $14.1 million for the three months ended December 31, 2024, driven by an increase in the average balance of interest-earning assets[5] - Noninterest income increased by $397,000, or 11.4%, to $3.9 million for the three months ended December 31, 2024, primarily due to higher fee income from interest rate swap contracts and loan fees[8] - Noninterest expense increased by $765,000, or 4.2%, to $18.9 million for the six months ended December 31, 2024, mainly due to higher salaries and employee benefits[10] - Interest income for the three months ended December 31, 2024, was $29.4 million, up from $25.6 million in the same period of 2023, representing a year-over-year increase of 7.1%[21] Tax and Provisions - The effective tax rate decreased to 7.3% for the three months ended December 31, 2024, compared to 10.4% for the same period in 2023, reflecting a higher mix of tax-exempt income[11] - Provision for credit losses on loans amounted to $1.2 million for the six months ended December 31, 2024, up from $645,000 for the same period in 2023, attributed to increased loan volume[9] - Provision for credit losses in Q4 2024 was $478,000, compared to $170,000 in Q4 2023, indicating an increase of 180.0%[29] Ratios and Margins - The net interest margin increased by 10 basis points to 2.04% for the three months ended December 31, 2024, compared to 1.94% for the same period in 2023[9] - The efficiency ratio improved to 52.31% for the three months ended December 31, 2024, compared to 58.78% for the same period in 2023[21] - The company reported a net interest margin of 2.30% for the six months ended December 31, 2024, compared to 2.28% for the same period in 2023[27] - Net interest margin on a fully taxable-equivalent basis for Q4 2024 was 2.31%, up from 2.19% in Q4 2023[27] Equity and Shareholder Information - Shareholders' equity increased to $218.4 million at December 31, 2024, from $206.0 million at June 30, 2024, primarily due to net income and a decrease in accumulated other comprehensive loss[14] - Basic and diluted earnings per share (EPS) increased to $0.44 for the three months ended December 31, 2024, up from $0.34 in the same period of 2023[21]

CATSKILL, N.Y., Jan. 22, 2025 (GLOBE NEWSWIRE) -- Greene County Bancorp, Inc. (the “Company”) (NASDAQ: GCBC), the holding company for the Bank of Greene County and its subsidiary Greene County Commercial Bank, today reported net income for the three and six months ended December 31, 2024, which is the second quarter of the Company’s fiscal year ending June 30, 2025. Net income for the three and six months ended December 31, 2024 was $7.5 million, or $0.44 per basic and diluted share, and $13.8 million, or $ ...

Financial Position - Total assets increased by $48.8 million, or 1.7%, to $2.9 billion at September 30, 2024, compared to $2.8 billion at June 30, 2024[124]. - Cash and cash equivalents rose by $23.0 million, or 12.1%, to $213.5 million at September 30, 2024, from $190.4 million at June 30, 2024[125]. - Securities available-for-sale and held-to-maturity increased by $26.1 million, or 2.5%, to $1.1 billion at September 30, 2024[126]. - At September 30, 2024, 59.3% of the securities portfolio consisted of state and political subdivision securities, while mortgage-backed securities represented 29.3% of the portfolio[126]. - Total gross loans reached $1.5 billion, with commercial real estate loans comprising 63.4% of the total loan portfolio as of September 30, 2024[133]. - The total securities held-to-maturity amounted to $701.9 million, representing 65.8% of the total securities as of September 30, 2024[129]. - Total deposits increased by $96.7 million, or 4.1%, to $2.5 billion at September 30, 2024, compared to $2.4 billion at June 30, 2024[151]. - Uninsured deposits after exclusions represented 12.2% of total deposits as of September 30, 2024, amounting to $304.0 million[156]. - The Bank had $604.8 million of its mortgage portfolio pledged as collateral for borrowing at the Federal Home Loan Bank of New York as of September 30, 2024[158]. Loan and Credit Quality - Net loans receivable remained stable at $1.5 billion at both September 30, 2024, and June 30, 2024[124]. - Net loans receivable increased by $1.2 million, or 0.1%, to $1.5 billion at September 30, 2024, with significant contributions from $15.3 million in commercial real estate loans and $1.7 million in home equity loans[131]. - The allowance for credit losses (ACL) on loans totaled $19.8 million at September 30, 2024, compared to $19.2 million at June 30, 2024, reflecting an increase in the ACL to total loans receivable ratio from 1.28% to 1.32%[143]. - The allowance for credit losses on unfunded commitments increased to $1.6 million as of September 30, 2024, up from $1.3 million at June 30, 2024[144]. - Non-performing assets decreased to $3.6 million at September 30, 2024, from $3.7 million at June 30, 2024, representing a reduction of approximately 2.7%[149]. - Loans classified as substandard and special mention totaled $59.0 million at September 30, 2024, an increase of $10.4 million from $48.6 million at June 30, 2024[192]. Income and Expenses - Net income for the three months ended September 30, 2024, was $6.3 million, a decrease of $208,000 from $6.5 million in the same period in 2023[180]. - Interest income rose to $27.8 million for the three months ended September 30, 2024, an increase of $3.1 million, or 12.6%, from $24.7 million in 2023[181]. - Net interest income decreased by $303,000 to $13.1 million for the three months ended September 30, 2024, from $13.4 million for the same period in 2023[186]. - Noninterest income increased by $438,000, or 13.3%, to $3.7 million for the three months ended September 30, 2024, compared to $3.3 million for the same period in 2023[194]. - Total noninterest expense increased by $705,000, or 8.0%, to $9.6 million for the three months ended September 30, 2024, compared to $8.8 million for the same period in 2023[196]. - Provision for credit losses on loans amounted to $634,000 for the three months ended September 30, 2024, compared to $457,000 for the same period in 2023[191]. Capital and Ratios - Shareholders' equity increased to $216.3 million at September 30, 2024, up from $206.0 million at June 30, 2024, driven by net income of $6.3 million[166]. - Shareholders' equity to total assets increased to 7.52% as of September 30, 2024, compared to 7.29% on June 30, 2024[170]. - As of September 30, 2024, the total risk-based capital for The Bank of Greene County was $280,437 thousand, with a ratio of 17.4%[205]. - The Tier 1 risk-based capital stood at $260,309 thousand, representing a ratio of 16.2% as of September 30, 2024[205]. - The total risk-based capital for Greene County Commercial Bank was $111,335 thousand, with a remarkable ratio of 46.1% as of September 30, 2024[205]. - The Tier 1 leverage ratio for Greene County Commercial Bank was 9.8% as of September 30, 2024[205]. - The capital conservation buffer required is 2.50% for both banks as of the reporting dates[205]. Market and Economic Conditions - The Company aims to manage various risks, including market, credit, liquidity, and operational risks, to ensure financial stability[108]. - Forward-looking statements indicate that future results may differ materially due to various risks and uncertainties, including changes in economic conditions and regulatory policies[114]. - The fair value of the fixed income bond portfolio improved due to a decrease in market rates following a 50 basis point cut by the Federal Reserve in September 2024[168].

Financial Performance - Net income for the three months ended September 30, 2024, was $6.3 million, a decrease of 3.2% from $6.5 million in the same period of 2023[1] - Net income for the three months ended September 30, 2024, was $6,261,000, down from $6,469,000, a decrease of 3.2%[26] - Basic and diluted EPS decreased to $0.37 from $0.38, a decline of 2.6%[26] Assets and Deposits - Total assets reached a new record high of $2.9 billion at September 30, 2024, an increase of $48.8 million, or 1.7%, from $2.8 billion at June 30, 2024[15] - Total assets as of September 30, 2024, were $2,874,621,000, up from $2,825,788,000, an increase of 1.7%[27] - Total deposits increased to $2.5 billion at September 30, 2024, up $96.7 million, or 4.1%, from $2.4 billion at June 30, 2024[17] - Total deposits increased to $2,485,874,000 from $2,389,222,000, reflecting a growth of 4.0%[27] Loans and Credit Losses - Net loans remained at $1.5 billion at September 30, 2024, with a growth of $15.3 million in commercial real estate loans[17] - Provision for credit losses on loans was $634,000 for the three months ended September 30, 2024, compared to $457,000 in the same period of 2023[9] - Provision for credit losses increased to $634,000 from $457,000, reflecting a rise of 38.7%[26] - The allowance for credit losses on loans to non-performing loans was 542.39%, up from 369.10%, showing an increase in coverage for potential loan losses[26] Income and Expenses - Noninterest income increased by $438,000, or 13.3%, to $3.7 million for the three months ended September 30, 2024, compared to $3.3 million in the same period of 2023[12] - Noninterest income rose to $3,737,000, compared to $3,299,000, marking an increase of 13.3%[26] - Noninterest expense rose by $705,000, or 8.0%, to $9.6 million for the three months ended September 30, 2024, primarily due to increased salaries and employee benefits[13] Tax and Efficiency - The effective tax rate decreased to 6.4% for the three months ended September 30, 2024, from 13.0% in the same period of 2023[14] - The efficiency ratio for the period was 56.60%, compared to 52.84% in the previous year, indicating a decline in operational efficiency[26] Interest Income - Interest income for the three months ended September 30, 2024, was $27,769,000, an increase from $24,672,000 in the same period last year, representing a growth of 8.5%[26] - Net interest income for the same period was $13,136,000, slightly down from $13,439,000, indicating a decrease of 2.3%[26] - The net interest margin decreased to 2.03% for the three months ended September 30, 2024, down from 2.12% in the same period of 2023[7] Shareholders' Equity - Shareholders' equity increased to $216.3 million at September 30, 2024, compared to $206.0 million at June 30, 2024, driven by net income and a decrease in accumulated other comprehensive loss[18]

Residential and Commercial Lending - As of June 30, 2024, the Company purchased $17.4 million of residential loans outside its primary market area, ensuring full due diligence on each loan to maintain credit quality [23]. - The Company offers residential mortgage loans with a maximum loan-to-value ratio of 85%, increasing to 90% for first-time homebuyer programs [23]. - The Company has seen an increase in adjustable-rate mortgage loans due to the higher interest rate environment, reflecting a shift in customer preference [25]. - The Company's adjustable-rate mortgage loans allow for maximum rate adjustments of 150 basis points per year and 600 basis points over the loan term [26]. - At June 30, 2024, the largest loan to one borrower was $23.8 million, consisting of eleven commercial mortgages and lines, performing according to repayment terms [44]. - The Company retains most residential mortgage loans in its portfolio, exposing it to interest rate risk as yields on fixed-rate assets remain constant while deposit rates may increase [24]. - The Company has emphasized growing its commercial lending department, focusing on multi-family and mixed-use properties [32]. - The Company requires personal guarantees on all commercial real estate mortgages unless properties are fully stabilized with strong cash flow coverage [33]. - The Company’s consumer loans include direct loans on automobiles and personal loans, generally with terms of one to five years [36]. Investment Strategy and Risk Management - The Company maintains high balances of liquid investments to mitigate interest rate risk and meet collateral requirements for municipal deposits exceeding FDIC insurance limits [45]. - The Company’s investment strategy focuses on high-quality securities, with an emphasis on managing interest rate risk through diversified investments across short-, intermediate-, and long-term categories [47]. - The Company does not hold any private-label mortgage-backed securities, focusing instead on those guaranteed by government-sponsored enterprises [53]. - The Company’s portfolio of state and political subdivision securities is primarily composed of short-term obligations, which are generally exempt from federal income tax [50]. - The Company has an unrecaptured pre-1988 Federal bad debt reserve of approximately $1.8 million, for which no Federal income tax provision has been made [67]. - The Company does not engage in balance sheet derivative or hedging investment transactions, such as interest rate swaps or caps [47]. - The Company’s mortgage-backed securities are primarily secured by cash flows from pools of mortgages, with guarantees from entities like Freddie Mac and Fannie Mae [54]. - The Company employs a risk management approach to assess credit risk on its state and political subdivision securities portfolio, which is considered low [52]. Capital and Regulatory Compliance - As of June 30, 2024, The Bank of Greene County met the criteria for being considered "well capitalized," with a total risk-based capital ratio exceeding 10%, a Tier 1 risk-based ratio exceeding 8.0%, a common equity Tier 1 ratio exceeding 6.5%, and a leverage ratio exceeding 5.0% [81]. - The capital standards require maintenance of common equity Tier 1 capital, Tier 1 capital, and total capital to risk-weighted assets of at least 4.5%, 6%, and 8%, respectively [75]. - The community bank leverage ratio was established at 9% Tier 1 capital to total average assets, effective January 1, 2020 [78]. - The Bank of Greene County was in compliance with the loans-to-one borrower limitations as of June 30, 2024, which generally restricts loans to a single borrower to 15% of unimpaired capital and surplus [81]. - The Bank received a "satisfactory" Community Reinvestment Act rating in its most recent examination, indicating compliance with credit needs in its communities [88]. - Federal regulations require that an insured depository institution shall not make any capital distribution if it would be undercapitalized after such distribution [86]. - The Bank has exercised a one-time opt-out regarding the treatment of Accumulated Other Comprehensive Income (AOCI) in its regulatory capital determinations [75]. - The Bank must maintain at least 65% of its portfolio assets in qualified thrift investments to satisfy the qualified thrift lender requirement [82]. - The regulations limit capital distributions and certain discretionary bonus payments to management if the institution does not hold a capital conservation buffer of 2.5% of common equity Tier 1 capital to risk-weighted assets [77]. Cybersecurity and Risk Management - The Bank is subject to various federal and state laws regarding cybersecurity, which impose standards and requirements related to data security and risk management processes [90]. - The Board of Directors oversees cybersecurity risk management, ensuring effective governance and proactive responses to emerging threats [127]. - The Company has not experienced any material losses related to cybersecurity threats for the year ended June 30, 2024 [126]. - The Company employs comprehensive methodologies for risk assessment, including regular examinations of emerging threats and vulnerability scanning [121]. - The Chief Information Security Officer and Chief Information Officer regularly update the Board on cybersecurity risks and compliance with regulatory requirements [128]. - The Company has developed an Incident Response Plan to address cybersecurity incidents, ensuring timely mitigation and remediation [122]. Interest Rate Risk and Sensitivity - The Company has a relatively low level of net interest income (NII) sensitivity, indicating low income exposure to rising interest rates, with the largest risk being a declining rate environment [269]. - As of June 30, 2024, the Company's economic value of equity (EVE) was $297,749 thousand at par, with a projected decrease of 30% to $208,413 thousand in a +300 basis points rate shock scenario [273]. - The cumulative one-year and three-year gap positions were positive at 16.03% and 10.69% respectively, indicating a favorable position for interest rate sensitivity [276]. - EVE sensitivity has increased across the industry due to loans and investments losing market value in the current higher interest rate environment [274]. - The Company performs dynamic modeling to assess interest rate risk, incorporating projected balance sheets and income statements under various economic scenarios [270]. - The EVE ratio at par was 10.89%, with a projected change of -264 basis points in a +300 basis points rate shock scenario [273]. - The Company utilizes gap analysis to monitor interest rate sensitivity, with a positive gap indicating a favorable position during rising interest rates [276]. - The EVE measure does not account for future changes in the balance sheet, which may limit its effectiveness [271]. - The Company’s interest rate risk measurements are subject to certain assumptions that may not reflect actual market responses [275]. - The analysis of interest rate sensitivity is limited by the potential for different reactions of similar maturity assets and liabilities to market rate changes [277].

Exhibit 99.1 FOR RELEASE Date: July 23, 2024 For Further Information Contact: Donald E. Gibson President & CEO (518) 943-2600 donaldg@tbogc.com Nick Barzee SVP & CFO (518) 943-2600 nickb@tbogc.com Greene County Bancorp, Inc. Reports Net Income of $24.8 million for the Fiscal Year Ended June 30, 2024 and is selected for the "2024 KBW Bank Honor Roll" for the Thirteenth Consecutive Year Catskill, N.Y. – July 23, 2024 - Greene County Bancorp, Inc. (the "Company") (NASDAQ: GCBC), the holding company for The Ban ...