Core Insights - Greene County Bancorp, Inc. reported a net income of $8.9 million for the three months ended September 30, 2025, representing a 41.7% increase from $6.3 million in the same period of 2024 [1][6][23] Financial Performance - Total consolidated assets reached a record high of $3.1 billion at September 30, 2025, with net loans at $1.6 billion and total deposits at $2.7 billion, both also record highs [3][6][15] - Pre-provision net income increased to $10.1 million for the three months ended September 30, 2025, up 46.9% from $6.9 million in the same period of 2024 [4][32] - Net interest income rose by $4.4 million to $17.5 million, driven by an increase in the average balance of interest-earning assets and a rise in interest rates on those assets [5][23] Asset and Liability Management - The average balance of interest-earning assets increased by $239.8 million, while interest rates on these assets rose by 18 basis points [5][7] - The cost of NOW deposits decreased by 41 basis points, and the cost of certificates of deposit decreased by 88 basis points [8][10] - Total deposits increased by $83.4 million, or 3.2%, compared to June 30, 2025, with significant growth in NOW and noninterest-bearing deposits [15][27] Credit Quality - Provision for credit losses was $1.3 million for the three months ended September 30, 2025, compared to $634,000 in the same period of 2024, primarily due to increased loan volume [10][12] - Nonperforming loans amounted to $3.6 million, representing 0.22% of net loans, an increase from 0.19% at June 30, 2025 [10][12] Noninterest Income and Expenses - Noninterest income increased by $249,000, or 6.7%, to $4.0 million, mainly due to higher income from customer interest rate swap contracts [14][23] - Noninterest expense rose by $511,000, or 5.4%, to $10.1 million, driven by increased salaries and employee benefits [14][23] Taxation - The effective tax rate for the three months ended September 30, 2025, was 12.9%, up from 6.4% in the same period of 2024, primarily due to higher pre-tax income [12][23] Strategic Developments - The company announced its expansion into Saratoga County, with a new office set to open on October 25, 2025, marking entry into a growing market [3][6]