Globenewswire·2026-01-21 14:18Core Insights - Greene County Bancorp, Inc. reported record net income of $10.3 million for the second quarter of fiscal year 2026, marking a 39.3% increase compared to the same period in the previous year [1][7] - The company achieved total consolidated assets of $3.1 billion, with net loans reaching $1.7 billion, both representing record highs [4][7] - 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 income for the six months ended December 31, 2025, was $19.2 million, or $1.13 per share, compared to $13.8 million, or $0.81 per share, for the same period in 2024 [1][7] - Pre-provision net income increased to $20.6 million for the six months ended December 31, 2025, up from $14.9 million in the prior year, reflecting a 38.7% increase [5] - Net interest income rose to $19.1 million for the three months ended December 31, 2025, an increase of $5.0 million from the previous year [6][8] Asset and Loan Growth - Total consolidated assets increased by $106.4 million, or 3.5%, from $3.0 billion at June 30, 2025, to $3.1 billion at December 31, 2025 [14] - Net loans receivable grew by $58.6 million, or 3.6%, to $1.7 billion as of December 31, 2025, driven by increases in commercial real estate and commercial loans [14] - The allowance for credit losses on loans increased to $21.3 million, reflecting a 5.9% rise due to higher loan volumes [14] Deposit and Borrowing Trends - Total deposits remained stable at $2.6 billion as of December 31, 2025, with notable increases in NOW deposits [14] - Borrowings increased significantly from $128.1 million at June 30, 2025, to $214.1 million at December 31, 2025, primarily due to overnight borrowings with the Federal Home Loan Bank [14] Credit Quality - The provision for credit losses was $199,000 for the three months ended December 31, 2025, down from $478,000 in the prior year [11] - Nonperforming loans amounted to $3.3 million at December 31, 2025, representing 0.20% of net loans, a slight increase from 0.19% at June 30, 2025 [12] 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 securities sales [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]