CATSKILL, N.Y., April 23, 2024 (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, 2024, which is the third quarter of the Company's fiscal year ending June 30, 2024. Net income for the three and nine months ended March 31, 2024 was $5.9 million, or $0.34 per basic and diluted share, and $18.0 million, or $1.06 ...

CATSKILL, N.Y., April 17, 2024 (GLOBE NEWSWIRE) -- Greene County Bancorp, Inc. (NASDAQ-GCBC) today announced that its Board of Directors has approved a quarterly cash dividend of $0.08 per share on the Company's common stock. The dividend reflects an annual cash dividend rate of $0.32 per share which is the same rate as the dividend declared during the previous quarter. The cash dividend for the quarter ended March 31, 2024 will be paid to shareholders of record as of May 15, 2024, and is expected to be pai ...

Financial Position - Total assets increased by $38.4 million, or 1.4%, to $2.74 billion at December 31, 2023, compared to $2.70 billion at June 30, 2023[157] - Total deposits decreased by $102.3 million, or 4.2%, to $2.33 billion at December 31, 2023, compared to $2.44 billion at June 30, 2023[179] - Shareholders' equity increased to $195.3 million at December 31, 2023, from $183.3 million at June 30, 2023, primarily due to net income of $12.2 million[189] - Cash and cash equivalents were $176.1 million, representing 6.4% of total assets as of December 31, 2023[223] - The Company has maintained strong capital and liquidity positions as of December 31, 2023[158] Loan and Credit Quality - Net loans receivable rose by $49.2 million, or 3.6%, to $1.44 billion at December 31, 2023, from $1.39 billion at June 30, 2023[157] - The allowance for credit losses (ACL) on loans was $20.3 million at December 31, 2023, down from $21.2 million at June 30, 2023, representing a decrease in the ACL to total loans receivable ratio from 1.51% to 1.39%[173] - Nonperforming assets amounted to $6.0 million at December 31, 2023, compared to $5.8 million at June 30, 2023, with total nonaccrual loans at $5.6 million[178] - The allowance for credit losses on loans to total loans receivable was 1.39% at December 31, 2023, compared to 1.51% at June 30, 2023[216] - Provision for credit losses amounted to $170,000 for the three months ended December 31, 2023, compared to $244,000 for the same period in 2022[216] Securities and Investments - Securities purchases totaled $121.3 million during the six months ended December 31, 2023, primarily consisting of $119.7 million in state and political subdivision securities[159] - At December 31, 2023, 62.2% of the securities portfolio consisted of state and political subdivision securities, while mortgage-backed securities represented 27.7%[159] - Securities available-for-sale increased to $307.8 million, or 30.5% of the total securities portfolio, from $281.1 million, or 27.9%, at the previous reporting date[163] - The total securities held-to-maturity decreased to $700.9 million, or 69.5% of the total securities portfolio, from $726.4 million, or 72.1%[163] - The company reported a total of $485,000 in allowance for credit losses on held-to-maturity securities as of December 31, 2023[164] Income and Expenses - The Company’s noninterest income primarily consists of fees and service charges, while noninterest expenses are mainly related to compensation and employee benefits[157] - Net interest income for the three months ended December 31, 2023, was $25.8 million, a decrease of $5.9 million, or 18.5%, compared to $31.8 million for the same period in 2022[201] - Noninterest income increased by $583,000, or 20.1%, to $3.5 million for the three months ended December 31, 2023, compared to $2.9 million for the same period in 2022[219] - Total noninterest expense decreased by $625,000, or 6.3%, to $9.3 million for the three months ended December 31, 2023, compared to $10.0 million for the same period in 2022[221] - The net interest margin (fully taxable-equivalent) decreased to 2.19% for the three months ended December 31, 2023, from 2.77% in 2022[197] Capital and Regulatory Compliance - The Company met all applicable regulatory capital requirements as of December 31, 2023[229] - The Bank of Greene County reported total risk-based capital of $267,630,000 with a ratio of 16.9% as of December 31, 2023, an increase from 16.5% at June 30, 2023[230] - Tier 1 risk-based capital for the Bank of Greene County was $247,765,000, representing a ratio of 15.6% as of December 31, 2023, compared to 15.2% as of June 30, 2023[230] - Greene County Commercial Bank's total risk-based capital was $106,922,000 with a ratio of 47.2% as of December 31, 2023, up from 46.6% at June 30, 2023[231] - The Tier 1 leverage ratio for Greene County Commercial Bank was 8.9% as of December 31, 2023, compared to 9.1% as of June 30, 2023[231] Economic and Market Conditions - Future changes in economic conditions, interest rates, and regulatory policies may materially impact the Company’s financial performance[149] - The Company’s operational results are significantly influenced by interest rate risk, which affects net interest income and loan originations[144] - The effective tax rate was 10.4% for the three months ended December 31, 2023, down from 16.5% for the same period in 2022[222] - The Company anticipates sufficient funds to meet current commitments based on cash and cash equivalents, available-for-sale investment portfolio, and borrowing capacity[228] - The Company has not requested funding through the Bank Term Funding Program (BTFP) as of December 31, 2023, but has an established relationship with the Federal Reserve to take advantage of this program[224]

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 SEPTEMBER 30, 2023 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. ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Fiscal Year Ended June 30, 2023 OR ☐ TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transaction period from ___________________ to ______________________ Commission File Number: 0-25165 GREENE COUNTY BANCORP, INC. (Name of registrant as specified in its Charter) United States 14-1809721 (State or ...

PART I. FINANCIAL INFORMATION [Financial Statements (unaudited)](index=4&type=section&id=Item%201.%20Financial%20Statements%20(unaudited)) The unaudited financial statements detail the company's financial position, operations, and cash flows, reflecting asset and net income growth - On March 23, 2023, the Company executed a **2-for-1 stock split** through a stock dividend, with all share and per-share data retroactively adjusted to reflect this split[21](index=21&type=chunk) [Consolidated Statements of Financial Condition](index=4&type=section&id=Consolidated%20Statements%20of%20Financial%20Condition) Total assets grew 6.1% to **$2.73 billion**, driven by a 12.9% increase in net loans receivable to **$1.39 billion** Consolidated Balance Sheet Highlights (in thousands) | Account | March 31, 2023 | June 30, 2022 | | :--- | :--- | :--- | | **Total Assets** | **$2,729,101** | **$2,571,740** | | Net loans receivable | $1,388,321 | $1,229,355 | | Total securities (AFS & HTM) | $1,053,847 | $1,169,914 | | Total cash and cash equivalents | $178,322 | $69,009 | | **Total Liabilities** | **$2,550,423** | **$2,414,026** | | Total deposits | $2,472,323 | $2,212,604 | | Borrowings from FHLB, short-term | $- | $123,700 | | **Total Shareholders' Equity** | **$178,678** | **$157,714** | [Consolidated Statements of Income](index=5&type=section&id=Consolidated%20Statements%20of%20Income) Net income for Q3 fiscal 2023 increased 12.6% to **$8.1 million**, with nine-month net income growing 14.9% to **$24.3 million** Key Performance Indicators (in thousands, except per share data) | Metric | Q3 2023 | Q3 2022 | Nine Months 2023 | Nine Months 2022 | | :--- | :--- | :--- | :--- | :--- | | Net Interest Income | $15,226 | $14,087 | $46,983 | $42,939 | | Provision for Loan Losses | $(944) | $163 | $(1,199) | $2,431 | | **Net Income** | **$8,091** | **$7,188** | **$24,325** | **$21,179** | | **Diluted EPS** | **$0.48** | **$0.42** | **$1.43** | **$1.24** | [Consolidated Statements of Comprehensive Income](index=6&type=section&id=Consolidated%20Statements%20of%20Comprehensive%20Income) Comprehensive income reached **$11.0 million** for Q3 fiscal 2023, a significant improvement from a **$2.5 million** loss, driven by unrealized gains on securities Comprehensive Income (Loss) (in thousands) | Component | Q3 2023 | Q3 2022 | Nine Months 2023 | Nine Months 2022 | | :--- | :--- | :--- | :--- | :--- | | Net Income | $8,091 | $7,188 | $24,325 | $21,179 | | Other Comprehensive Income (Loss), net | $2,927 | $(9,732) | $(1,716) | $(12,304) | | **Comprehensive Income (Loss)** | **$11,018** | **$(2,544)** | **$22,609** | **$8,875** | [Consolidated Statements of Changes in Shareholders' Equity](index=7&type=section&id=Consolidated%20Statements%20of%20Changes%20in%20Shareholders'%20Equity) Shareholders' equity increased to **$178.7 million** by March 31, 2023, driven by **$24.3 million** in net income, offset by dividends and other comprehensive loss Changes in Shareholders' Equity (Nine Months Ended Mar 31, 2023, in thousands) | Component | Amount | | :--- | :--- | | Balance at June 30, 2022 | $157,714 | | Net Income | $24,325 | | Dividends declared | $(1,645) | | Other comprehensive loss, net of taxes | $(1,716) | | **Balance at March 31, 2023** | **$178,678** | [Consolidated Statements of Cash Flows](index=8&type=section&id=Consolidated%20Statements%20of%20Cash%20Flows) Cash and equivalents increased by **$109.3 million**, primarily from **$134.4 million** in financing activities, offset by **$42.8 million** used in investing activities Cash Flow Summary (Nine Months Ended Mar 31, 2023 vs 2022, in thousands) | Cash Flow Activity | 2023 | 2022 | | :--- | :--- | :--- | | Net cash provided by operating activities | $17,728 | $21,147 | | Net cash used in investing activities | $(42,789) | $(332,043) | | Net cash provided by financing activities | $134,374 | $311,736 | | **Net increase in cash and cash equivalents** | **$109,313** | **$840** | [Notes to Consolidated Financial Statements](index=10&type=section&id=Notes%20to%20Consolidated%20Financial%20Statements) Notes detail accounting policies, securities and loan portfolios, credit quality, fair value, a settled lawsuit, and preparation for CECL adoption - The company's securities portfolio at March 31, 2023, had gross unrealized losses of **$81.7 million**, primarily due to increased interest rates, though management does not consider them other-than-temporarily impaired[27](index=27&type=chunk)[31](index=31&type=chunk)[35](index=35&type=chunk) - The loan portfolio is primarily composed of **commercial real estate (49.9%)** and **residential real estate (26.6%)**, with nonaccrual loans decreasing to **$4.7 million** at March 31, 2023, from **$6.3 million** at June 30, 2022[40](index=40&type=chunk)[51](index=51&type=chunk)[128](index=128&type=chunk) - The company settled a putative class action complaint related to overdraft fees for **$1.15 million**, which was reserved in the quarter ended December 31, 2022[106](index=106&type=chunk) - The company will adopt the new **Current Expected Credit Loss (CECL) standard** (ASU 2016-13) for the fiscal year beginning July 1, 2023, which is expected to significantly impact the allowance for credit losses methodology[87](index=87&type=chunk)[88](index=88&type=chunk) [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=35&type=section&id=Item%202.%20Management's%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management attributes strong performance to net interest income growth, improved credit quality, robust liquidity, and strong capital [Comparison of Financial Condition](index=37&type=section&id=Comparison%20of%20Financial%20Condition) Total assets grew 6.1% to **$2.7 billion**, driven by a **$159.0 million** increase in net loans, funded by a **$259.7 million** rise in deposits - Net loans receivable increased by **$159.0 million (12.9%)** to **$1.4 billion**, with significant growth in commercial real estate (**$107.1 million**) and commercial construction (**$25.1 million**) loans[121](index=121&type=chunk)[127](index=127&type=chunk) - Total deposits increased by **$259.7 million (11.7%)** to **$2.5 billion**, largely due to growth in NOW accounts and brokered certificates of deposit, used to enhance liquidity[138](index=138&type=chunk) - Shareholders' equity increased to **$178.7 million**, with book value per share rising to **$10.49** from **$9.26** at June 30, 2022[146](index=146&type=chunk)[150](index=150&type=chunk) [Results of Operations](index=43&type=section&id=Results%20of%20Operations) Net income for the nine months increased 14.9% to **$24.3 million**, driven by a **$4.1 million** rise in net interest income Net Income and ROA/ROE (Annualized) | Metric | Nine Months 2023 | Nine Months 2022 | | :--- | :--- | :--- | | Net Income | $24.3 million | $21.2 million | | Return on Average Assets | 1.26% | 1.21% | | Return on Average Equity | 19.51% | 18.09% | - Net interest income for the nine months ended March 31, 2023 increased by **$4.1 million**, primarily due to a **$6.2 million** increase from higher asset volume, which offset a **$2.2 million** decrease from rate/spread compression[161](index=161&type=chunk)[167](index=167&type=chunk) - Interest expense for the nine months increased by **$10.3 million (272.5%)**, driven by higher rates paid on NOW deposits and increased borrowing levels[165](index=165&type=chunk) - Noninterest expense for the nine months increased by **$4.0 million (16.2%)**, primarily due to a **$2.0 million** increase in salaries and benefits and a **$1.6 million** increase in legal and professional fees, which included a **$1.2 million** litigation reserve[176](index=176&type=chunk) [Asset Quality](index=39&type=section&id=Asset%20Quality) Asset quality improved significantly, with nonperforming assets decreasing to **$5.2 million** and a **$1.2 million** provision for loan loss benefit recorded Asset Quality Metrics | Metric | March 31, 2023 | June 30, 2022 | | :--- | :--- | :--- | | Nonperforming Assets | $5,154 thousand | $6,385 thousand | | Nonperforming Assets / Total Assets | 0.19% | 0.25% | | Allowance for Loan Losses / Total Loans | 1.50% | 1.82% | | Allowance for Loan Losses / Nonperforming Loans | 450.87% | 562.46% | - The provision for loan losses was a benefit of **$1.2 million** for the nine months ended March 31, 2023, compared to an expense of **$2.4 million** in the prior year period, reflecting a decrease in adversely classified loans[172](index=172&type=chunk) - The decrease in nonperforming loans was primarily due to **$1.3 million** in loan repayments and **$508,000** in charge-offs or transfers to foreclosed real estate[174](index=174&type=chunk) [Liquidity and Capital Resources](index=49&type=section&id=Liquidity%20and%20Capital%20Resources) The company maintained strong liquidity with **$178.3 million** in cash and equivalents, increased brokered deposits, and exceeded all regulatory capital requirements - The company enhanced its liquidity position in response to market turmoil, increasing cash and equivalents to **$178.3 million** and utilizing brokered deposits[178](index=178&type=chunk)[182](index=182&type=chunk) - The company has access to the **Federal Reserve's Bank Term Funding Program (BTFP)** but had not requested funding as of March 31, 2023[179](index=179&type=chunk) The Bank of Greene County Capital Ratios (Actual vs. Well-Capitalized) | Ratio | Actual (Mar 31, 2023) | Well-Capitalized Requirement | | :--- | :--- | :--- | | Total risk-based capital | 16.3% | 10.0% | | Tier 1 risk-based capital | 15.1% | 8.0% | | Common equity tier 1 capital | 15.1% | 6.5% | | Tier 1 leverage ratio | 8.7% | 5.0% | [Quantitative and Qualitative Disclosures About Market Risk](index=52&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) This disclosure is not required for smaller reporting companies, thus no information is provided - Item 3 is not applicable as the company is a smaller reporting company[188](index=188&type=chunk) [Controls and Procedures](index=52&type=section&id=Item%204.%20Controls%20and%20Procedures) Management, including the CEO and CFO, concluded disclosure controls and procedures were effective, with no material changes to internal control over financial reporting - The CEO and CFO concluded that the Company's disclosure controls and procedures were effective as of the end of the reporting period[189](index=189&type=chunk) - No changes in internal control over financial reporting occurred during the last fiscal quarter that materially affected, or are reasonably likely to materially affect, these controls[190](index=190&type=chunk) PART II. OTHER INFORMATION [Legal Proceedings](index=53&type=section&id=Item%201.%20Legal%20Proceedings) The company settled a class action lawsuit concerning overdraft fees for **$1.15 million**, with the settlement pending court approval - A class action complaint regarding overdraft fees was filed against the Bank, with parties entering into a settlement agreement for **$1,150,000** plus forgiveness of certain fees, which the company had already reserved for[106](index=106&type=chunk)[191](index=191&type=chunk) [Risk Factors](index=53&type=section&id=Item%201A.%20Risk%20Factors) This disclosure is not required for smaller reporting companies, thus no information is provided - Item 1A is not applicable as the company is a smaller reporting company[192](index=192&type=chunk) [Unregistered Sales of Equity Securities and Use of Proceeds](index=53&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) The company has a stock repurchase program authorizing up to **400,000** shares, with no repurchases made during the quarter - The Company has a stock repurchase program authorizing up to **400,000 shares**, with no shares repurchased during the quarter ended March 31, 2023[195](index=195&type=chunk) [Other Items (3, 4, 5, 6)](index=53&type=section&id=Other%20Items) Items 3 and 4 are not applicable; Item 5 notes no material changes to director nomination procedures; Item 6 lists filed exhibits - Items 3 and 4 are not applicable; Item 6 lists filed exhibits, including CEO/CFO certifications[195](index=195&type=chunk)

PART I. FINANCIAL INFORMATION [Financial Statements (unaudited)](index=4&type=section&id=Item%201.%20Financial%20Statements%20(unaudited)) Unaudited consolidated financial statements for periods ended December 31, 2022, and June 30, 2022, are presented with accompanying notes [Consolidated Statements of Financial Condition](index=4&type=section&id=Consolidated%20Statements%20of%20Financial%20Condition) Total assets increased to **$2.62 billion** by December 31, 2022, driven by higher net loans receivable, with liabilities and shareholders' equity also rising Consolidated Statements of Financial Condition (in thousands) | Assets & Liabilities | December 31, 2022 | June 30, 2022 | | :--- | :--- | :--- | | **Total Assets** | **$2,616,315** | **$2,571,740** | | Total cash and cash equivalents | $60,816 | $69,009 | | Net loans receivable | $1,367,866 | $1,229,355 | | Securities available-for-sale | $335,118 | $408,062 | | Securities held-to-maturity | $742,470 | $761,852 | | **Total Liabilities** | **$2,448,108** | **$2,414,026** | | Total deposits | $2,265,394 | $2,212,604 | | Borrowings from FHLB, short-term | $107,600 | $123,700 | | **Total Shareholders' Equity** | **$168,207** | **$157,714** | [Consolidated Statements of Income](index=5&type=section&id=Consolidated%20Statements%20of%20Income) Net income for the six months ended December 31, 2022, increased by **16%** to **$16.2 million**, driven by higher net interest income Key Income Statement Data (in thousands, except per share data) | Metric | Three Months Ended Dec 31, 2022 | Three Months Ended Dec 31, 2021 | Six Months Ended Dec 31, 2022 | Six Months Ended Dec 31, 2021 | | :--- | :--- | :--- | :--- | :--- | | Net Interest Income | $15,923 | $14,453 | $31,757 | $28,852 | | Provision for loan losses | $244 | $1,280 | ($255) | $2,268 | | Total Noninterest Income | $2,895 | $3,238 | $5,993 | $6,167 | | Total Noninterest Expense | $9,951 | $8,337 | $18,748 | $16,298 | | **Net Income** | **$7,198** | **$6,877** | **$16,234** | **$13,991** | | **Basic and Diluted EPS** | **$0.85** | **$0.81** | **$1.91** | **$1.64** | [Consolidated Statements of Comprehensive Income](index=6&type=section&id=Consolidated%20Statements%20of%20Comprehensive%20Income) Comprehensive income for the six months ended December 31, 2022, was **$11.6 million**, with net income offset by unrealized losses on available-for-sale securities Comprehensive Income (in thousands) | Metric | Three Months Ended Dec 31, 2022 | Three Months Ended Dec 31, 2021 | Six Months Ended Dec 31, 2022 | Six Months Ended Dec 31, 2021 | | :--- | :--- | :--- | :--- | :--- | | Net Income | $7,198 | $6,877 | $16,234 | $13,991 | | Total other comprehensive income (loss), net of taxes | $1,975 | ($1,218) | ($4,643) | ($2,572) | | **Comprehensive Income** | **$9,173** | **$5,659** | **$11,591** | **$11,419** | [Consolidated Statements of Changes in Shareholders' Equity](index=7&type=section&id=Consolidated%20Statements%20of%20Changes%20in%20Shareholders%27%20Equity) Shareholders' equity increased to **$168.2 million** by December 31, 2022, driven by net income, partially offset by dividends and other comprehensive loss Changes in Shareholders' Equity - Six Months Ended Dec 31, 2022 (in thousands) | Component | Amount | | :--- | :--- | | Balance at June 30, 2022 | $157,714 | | Net Income | $16,234 | | Dividends declared | ($1,098) | | Other comprehensive loss, net of taxes | ($4,643) | | **Balance at December 31, 2022** | **$168,207** | [Consolidated Statements of Cash Flows](index=8&type=section&id=Consolidated%20Statements%20of%20Cash%20Flows) Cash and cash equivalents decreased by **$8.2 million** for the six months ended December 31, 2022, due to investing activities largely offset by operating and financing cash flows Cash Flow Summary - Six Months Ended (in thousands) | Activity | 2022 | 2021 | | :--- | :--- | :--- | | Net cash provided by operating activities | $10,042 | $13,358 | | Net cash used in investing activities | ($53,827) | ($233,335) | | Net cash provided by financing activities | $35,592 | $133,730 | | **Net decrease in cash and cash equivalents** | **($8,193)** | **($86,247)** | [Notes to Consolidated Financial Statements](index=9&type=section&id=Notes%20to%20Consolidated%20Financial%20Statements) The notes detail accounting policies, the nature of operations, and specifics on financial instruments, including the upcoming CECL model adoption and a legal settlement reserve - The company will adopt the new CECL (Current Expected Credit Loss) standard for the fiscal year beginning July 1, 2023, which is expected to have a significant impact on the methodology for calculating the allowance for credit losses[82](index=82&type=chunk)[83](index=83&type=chunk) - A putative class action lawsuit regarding overdraft fees has been settled in principle, with the company reserving **$1.15 million** in the quarter ended December 31, 2022, in connection with this matter[103](index=103&type=chunk) - On January 18, 2023, the Board of Directors declared a quarterly cash dividend of **$0.14 per share**, payable on February 27, 2023[104](index=104&type=chunk) [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=35&type=section&id=Item%202.%20Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management's analysis highlights a **16.0%** increase in net income for the six months ended December 31, 2022, driven by strong loan growth and higher net interest income, despite increased noninterest expenses [Comparison of Financial Condition](index=36&type=section&id=Comparison%20of%20Financial%20Condition) Total assets grew by **$44.6 million** (1.7%) to **$2.6 billion** by December 31, 2022, primarily fueled by an **11.3%** increase in net loans, while nonperforming assets decreased - Total assets increased by **$44.6 million**, or **1.7%**, to **$2.6 billion** at December 31, 2022, compared to June 30, 2022[118](index=118&type=chunk) - Net loans receivable increased by **$138.5 million** (**11.3%**), driven by growth in commercial real estate loans (**$110.0 million**) and residential real estate loans (**$10.8 million**)[118](index=118&type=chunk)[122](index=122&type=chunk) - Securities available-for-sale and held-to-maturity decreased by **$92.3 million** (**7.9%**), as maturing investments were used to fund loan growth[118](index=118&type=chunk)[120](index=120&type=chunk) - Nonperforming assets decreased to **$5.4 million** (**0.21%** of total assets) at Dec 31, 2022, from **$6.4 million** (**0.25%** of total assets) at June 30, 2022[128](index=128&type=chunk)[129](index=129&type=chunk) [Comparison of Operating Results](index=42&type=section&id=Comparison%20of%20Operating%20Results) Net income increased **16.0%** to **$16.2 million** for the six months ended December 31, 2022, driven by net interest income growth, despite higher interest and noninterest expenses Year-over-Year Operating Results Comparison (Six Months Ended Dec 31) | Metric (in thousands) | 2022 | 2021 | Change (%) | | :--- | :--- | :--- | :--- | | Net Interest Income | $31,757 | $28,852 | +10.1% | | Provision for Loan Losses | ($255) | $2,268 | -111.2% | | Noninterest Income | $5,993 | $6,167 | -2.8% | | Noninterest Expense | $18,748 | $16,298 | +15.0% | | **Net Income** | **$16,234** | **$13,991** | **+16.0%** | - The increase in noninterest expense was primarily due to a non-recurring litigation reserve expense of **$1.2 million** and increases in salaries and employee benefits to support growth[165](index=165&type=chunk) - The provision for loan losses was a benefit of **$255,000** for the six months ended Dec 31, 2022, compared to a charge of **$2.3 million** in the prior year, due to a decrease in adversely classified loans[161](index=161&type=chunk) [Liquidity and Capital Resources](index=48&type=section&id=Liquidity%20and%20Capital%20Resources) The company maintains a strong liquidity position with **$60.8 million** in cash and **$280.1 million** in unused credit lines, and both the bank and its subsidiary exceed all regulatory capital requirements - At December 31, 2022, the Company had **$60.8 million** in cash and cash equivalents and **$280.1 million** available in unused lines of credit[167](index=167&type=chunk) The Bank of Greene County Capital Ratios (Actual) - Dec 31, 2022 | Ratio | Actual | To Be Well Capitalized Requirement | | :--- | :--- | :--- | | Total risk-based capital | 15.9% | 10.0% | | Tier 1 risk-based capital | 14.7% | 8.0% | | Common equity tier 1 capital | 14.7% | 6.5% | | Tier 1 leverage ratio | 8.5% | 5.0% | [Quantitative and Qualitative Disclosures About Market Risk](index=52&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) This section is not applicable to the company, as it qualifies as a smaller reporting company - Not applicable to smaller reporting companies[173](index=173&type=chunk) [Controls and Procedures](index=52&type=section&id=Item%204.%20Controls%20and%20Procedures) The company's disclosure controls and procedures were deemed effective as of the end of the reporting period, with no material changes to internal control over financial reporting - The Chief Executive Officer and Chief Financial Officer concluded that the Company's disclosure controls and procedures were effective as of the end of the reporting period[174](index=174&type=chunk) - There were no changes in the Company's internal control over financial reporting during the last fiscal quarter that materially affected, or are reasonably likely to materially affect, these controls[175](index=175&type=chunk) PART II. OTHER INFORMATION [Legal Proceedings](index=52&type=section&id=Item%201.%20Legal%20Proceedings) The company is party to a putative class action lawsuit concerning overdraft fees, for which an agreement in principle to settle has been reached, and a **$1.15 million** reserve recorded - The company is involved in a class action complaint alleging improper assessment of overdraft fees, with an agreement in principle to settle reached and a reserve of **$1.15 million** recorded in Q2 FY2023[103](index=103&type=chunk)[176](index=176&type=chunk) [Risk Factors](index=52&type=section&id=Item%201A.%20Risk%20Factors) This section is not applicable to the company, as it qualifies as a smaller reporting company - Not applicable to smaller reporting companies[177](index=177&type=chunk) [Unregistered Sales of Equity Securities and Use of Proceeds](index=52&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) The company has a stock repurchase program authorizing up to **200,000** shares, with no repurchases made during the quarter ended December 31, 2022 - The Company has a stock repurchase program authorizing up to **200,000** shares, with no repurchases made during the quarter ended December 31, 2022[178](index=178&type=chunk) [Exhibits](index=53&type=section&id=Item%206.%20Exhibits) This section lists the exhibits filed with the Form 10-Q, including the amended company charter, CEO/CFO certifications, and financial data in iXBRL format - Filed exhibits include the amended company charter, CEO/CFO certifications, and financial statements in iXBRL format[180](index=180&type=chunk)

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 (State or other jurisdiction of incorporation or organization) (I.R.S. Employer Identification Number) FOR THE QUARTERLY PERIOD ENDED SEPTEMBER 30, 2022 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 i ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 302 Main Street, Catskill, New York 12414 (Address of Principal Executive Office) (Zip Code) FORM 10-K (518) 943-2600 (Issuer's Telephone Number including area code) ☒ ANNUAL REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Fiscal Year Ended June 30, 2022 OR ☐ TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transaction period from ___________________ to __________ ...

U.S. 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 302 Main Street, Catskill, New York 12414 (Address of principal executive office) (Zip code) Registrant's telephone number, including area code: (518) 943-2600 Securities registered pursuant to Section 12(b) of the Act: Title of class Trading symbol Name of exchange on which registered Common Stock, $0.10 par value GCBC The Nasdaq Stock Market FOR T ...