Greene County Bancorp, Inc. Delivers Net Income of $10.3 Million for the Quarter Ended December 31, 2025, the Highest Quarterly Earnings in the Bank’s 137-Year History

Core Insights - Greene County Bancorp, Inc. reported record net income of $10.3 million for the second quarter of fiscal year 2026, a 39.3% increase compared to the same period in the previous year, with earnings per share rising to $0.60 from $0.44 [1][7] - The company achieved total consolidated assets of $3.1 billion, marking a 3.5% increase from $3.0 billion at the end of June 2025 [4][17] - The company was recognized as a top-performing bank in Piper Sandler's Class of 2025 Bank & Thrift Small-Cap All Stars, ranking 9th out of 24 banks [3] Financial Performance - Net interest income increased by $5.0 million to $19.1 million for the three months ended December 31, 2025, and by $9.4 million to $36.6 million for the six months ended December 31, 2025 [6][8] - Pre-provision net income for the six months ended December 31, 2025, was $20.6 million, up from $14.9 million in the same period of 2024, reflecting a 38.7% increase [5] - The return on average assets was 1.27% and the return on average equity was 15.45% for the six months ended December 31, 2025 [7][24] Asset and Loan Growth - Total cash and cash equivalents decreased to $124.1 million at December 31, 2025, from $183.1 million at June 30, 2025 [17] - Net loans receivable increased by $58.6 million, or 3.6%, to $1.7 billion at December 31, 2025, driven by growth in commercial real estate loans and commercial loans [17][29] - The allowance for credit losses on loans increased to $21.3 million at December 31, 2025, reflecting a 5.9% rise from $20.1 million at June 30, 2025 [17] Deposit and Borrowing Trends - Total deposits remained stable at $2.6 billion as of December 31, 2025, with notable increases in NOW deposits [17] - Borrowings increased significantly to $214.1 million at December 31, 2025, up from $128.1 million at June 30, 2025, primarily due to overnight borrowings with the Federal Home Loan Bank [17] Noninterest Income and Expenses - Noninterest income decreased by $719,000, or 18.6%, to $3.2 million for the three months ended December 31, 2025, primarily due to losses on sales of securities [11] - Noninterest expense increased by $1.1 million, or 11.4%, to $10.5 million for the three months ended December 31, 2025, driven by higher salaries and employee benefits [11]