Greene County Bancorp Files 2024 10-K

TL;DR

GCBC filed its 2024 10-K. Financials look stable, standard reporting.

AI Summary

Greene County Bancorp Inc. filed its 10-K for the fiscal year ending June 30, 2024. The company, a savings institution, reported financial data for the periods ending June 30, 2024, June 30, 2023, and June 30, 2022. Key financial elements include interest receivable, prepaid expenses, accrued liabilities, and investments in subsidiaries. The filing also references accounting standards updates from 2016.

Why It Matters

This 10-K filing provides a comprehensive overview of Greene County Bancorp's financial health and operational performance for the fiscal year 2024, crucial for investors and stakeholders to assess the company's stability and future prospects.

Risk Assessment

Risk Level: low — The filing is a routine annual report with no immediate red flags or significant negative disclosures.

Key Numbers

• FY 2024 — Fiscal Year End (Reporting period for the 10-K)
• 2023-06-30 — Prior Year End (Comparison point for financial data)
• 2022-07-01 — Start of Prior Fiscal Year (Beginning of the comparative period)

Key Players & Entities

• GREENE COUNTY BANCORP INC (company) — Filer
• 20240630 (date) — Fiscal Year End
• 0001070524 (company) — Central Index Key
• 6036 (industry_code) — Standard Industrial Classification
• 5189432600 (phone_number) — Business Phone

FAQ

Key Financial Figures

• $0.10 — nge on which registered Common Stock, $0.10 par value GCBC The Nasdaq Stock Mar
• $28.20 — to the closing price of Common Stock of $28.20 on December 31, 2023, the aggregate val
• $17.4 m — uring fiscal 2024 the Company purchased $17.4 million, of residential loans that were o

Filing Documents

• ef20030045_10k.htm (10-K) — 4704KB
• ef20030045_ex21.htm (EX-21) — 4KB
• ef20030045_ex23.htm (EX-23) — 3KB
• ef20030045_ex31-1.htm (EX-31.1) — 8KB
• ef20030045_ex31-2.htm (EX-31.2) — 8KB
• ef20030045_ex32-1.htm (EX-32.1) — 4KB
• ef20030045_ex32-2.htm (EX-32.2) — 5KB
• image00001.jpg (GRAPHIC) — 4KB
• 0001140361-24-040469.txt ( ) — 22381KB
• gcbc-20240630.xsd (EX-101.SCH) — 108KB
• gcbc-20240630_cal.xml (EX-101.CAL) — 199KB
• gcbc-20240630_def.xml (EX-101.DEF) — 619KB
• gcbc-20240630_lab.xml (EX-101.LAB) — 1613KB
• gcbc-20240630_pre.xml (EX-101.PRE) — 984KB
• ef20030045_10k_htm.xml (XML) — 4943KB

Business

Business 4-21 Item 1A.

Risk Factors

Risk Factors 21 Item 1B. Unresolved Staff Comments 21 Item 1C. Cybersecurity 21 Item 2.

Properties

Properties 23 Item 3.

Legal Proceedings

Legal Proceedings 23 Item 4. Mine Safety Disclosures 23 Part II Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 23 Item 6. [Reserved] 24 Item 7.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 24-47 Item 7A.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 47-49 Item 8.

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data 50 Report of Independent Registered PublicAccounting Firm (Bonadio LLP, Pittsford, New York, PCID: 1884 ) 51-53 Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 97 Item 9A.

Controls and Procedures

Controls and Procedures 97 Item 9B. Other Information 97 Item 9C. Disclosures Regarding Foreign Jurisdictions That Prevent Inspections 97 Part III Item 10. Directors, Executive Officers, and Corporate Governance 97 Item 11.

Executive Compensation

Executive Compensation 97 Item 12.

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 97 Item 13. Certain Relationships and Related Transactions and Director Independence 97 Item 14. Principal Accountant Fees and Services 97 Part IV Item 15. Exhibits and Financial Statement Schedules 98-99 Item 16. Form 10-K Summary 99

Signatures

Signatures 100 Index PART I ITEM 1 .

Business

Business Greene County Bancorp, MHC and Greene County Bancorp, Inc. Greene County Bancorp, MHC was formed in December 1998 as part of The Bank of Greene County's mutual holding company reorganization. In 2001, Greene County Bancorp, MHC converted from a state to a federal charter. The Federal Reserve Board regulates Greene County Bancorp, MHC. Greene County Bancorp, MHC owns 54.1% of the issued and outstanding common stock of Greene County Bancorp, Inc . The remaining shares of Greene County Bancorp, Inc. are owned by public stockholders and The Bank of Greene County's Employee Stock Ownership Plan. At June 30, 2024, Greene County Bancorp, Inc.'s assets consisted primarily of its investment in The Bank of Greene County, cash and securities. At June 30, 2024, 7,808,300 shares of Greene County Bancorp, Inc.'s common stock, par value $0.10 per share, were held by the public, including executive officers and directors, 195,852 shares were held as Treasury stock and 9,218,528 shares were held by Greene County Bancorp, MHC, Greene County Bancorp, Inc.'s mutual holding company. Greene County Bancorp, MHC does not engage in any business activity other than to hold a majority of Greene County Bancorp, Inc.'s common stock and to invest any liquid assets of Greene County Bancorp, MHC. Greene County Bancorp, Inc. (the "Company") operates as the federally chartered holding company of The Bank of Greene County, a federally chartered savings bank. Greene County Bancorp, Inc. was organized in December of 1998 at the direction of the Board of Trustees of The Bank of Greene County (formerly Greene County Savings Bank) for the purpose of acting as the holding company of The Bank of Greene County. In 2001, Greene County Bancorp, Inc. converted its charter from a Delaware corporation regulated by the Board of Governors of the Federal Reserve System to a federal corporation regulated by the Office of Thrift Supervision. Effective in July 2011, the regulation of federally chartered s

View Full Filing

View this 10-K filing on SEC EDGAR