Greene County ( (GCBC) ) has released its Q3 earnings. Here is a breakdown of the information Greene County presented to its investors.
Greene County Bancorp, Inc., the holding company for the Bank of Greene County and its subsidiary Greene County Commercial Bank, is a prominent community-based banking service provider in the Hudson Valley and Capital Region of New York State, catering to individuals, businesses, municipalities, and institutions. The company is publicly traded on the Nasdaq Capital Market under the ticker GCBC.
In its latest earnings report for the quarter ended March 31, 2025, Greene County Bancorp, Inc. announced a net income of $8.1 million, marking a significant increase from the previous year’s $5.9 million. The company also reached a new milestone with total assets surpassing $3.0 billion, highlighting its strong growth trajectory.
Key financial metrics for the period include a net income of $21.8 million for the nine months ended March 31, 2025, an increase of 20.9% compared to the same period in 2024. The company’s net loans and total deposits also reached record highs of $1.6 billion and $2.7 billion, respectively. Additionally, Greene County Bancorp reported a return on average assets of 1.04% and a return on average equity of 13.40% for the nine months ended March 31, 2025.
The company attributes its growth to strategic management of its balance sheet, focusing on higher-yielding loans and securities, and aligning deposit rates with Federal Reserve interest rate cuts. This strategy resulted in an improved net interest margin and spread for the reported periods. Furthermore, Greene County Bancorp experienced a decrease in non-performing loans and maintained a strong capital and liquidity position.
Looking ahead, Greene County Bancorp, Inc. remains committed to its long-term growth strategy, emphasizing customer service and innovative financial solutions. The company plans to continue monitoring economic conditions and interest rates, aiming to sustain its growth momentum and strengthen its market position.