Gouverneur Bancorp, Inc. Announces Fiscal 2025 Third Quarter and Nine Months Results

Core Insights - Gouverneur Bancorp, Inc. reported a net income of $217,000, or $0.22 per share, for Q3 2025, an increase from $183,000, or $0.17 per share, in Q3 2024 [2] - For the nine months ended June 30, 2025, net income was $495,000, or $0.48 per share, compared to $403,000, or $0.38 per share, for the same period in 2024 [2] Financial Performance - Total assets decreased by $0.6 million, or 0.27%, from $197.3 million at September 30, 2024, to $196.7 million at June 30, 2025 [4] - Net loans increased by $1.6 million, or 1.35%, during the same period [4] - Total interest income rose by $26,000, or 1.21%, to $2.2 million for Q3 2025, and increased by $56,000, or 0.87%, to $6.5 million for the nine months ended June 30, 2025 [7] - Total interest expense decreased by $27,000, or 6.98%, for Q3 2025, but increased by $103,000, or 9.83%, for the nine months ended June 30, 2025 [8][9] Non-Interest Income and Expenses - Non-interest income increased by $65,000 to $256,000 for Q3 2025, and by $180,000 to $708,000 for the nine months ended June 30, 2025 [11] - Non-interest expenses remained stable at $1.8 million for Q3 2025, with a slight increase of $10,000 for the nine months compared to the previous year [12] Shareholders' Equity and Dividends - Shareholders' equity decreased by 4.18% to $31.4 million at June 30, 2025, primarily due to a decrease in the market value of the securities portfolio and stock repurchases [6] - The Company declared dividends of $0.16 per share totaling $173,000 during the nine months ended June 30, 2025 [6] Key Ratios - Net interest margin improved to 4.15% for Q3 2025, compared to 4.03% for Q3 2024 [10] - Annualized return on average assets increased to 0.44% for Q3 2025, up from 0.37% in Q3 2024 [15] - Annualized return on average equity rose to 2.79% for Q3 2025, compared to 2.33% in Q3 2024 [15]