Greene County Bancorp Inc. Files 10-Q for Period Ending March 31, 2024

TL;DR

<b>Greene County Bancorp Inc. filed its quarterly 10-Q report for the period ending March 31, 2024, detailing financial data and equity changes.</b>

AI Summary

GREENE COUNTY BANCORP INC (GCBC) filed a Quarterly Report (10-Q) with the SEC on May 10, 2024. Filing is a 10-Q for Greene County Bancorp Inc. for the period ending March 31, 2024. The company is classified under SIC code 6036: Savings Institutions, Not Federally Chartered. The filing includes data points related to various equity accounts such as Common Stock, Retained Earnings, and Additional Paid-In Capital across different fiscal periods. Specific dates for financial reporting periods and data points range from 2022-06-30 to 2024-03-31. The company's principal business address is 302 Main Street, Catskill, NY 12414.

Why It Matters

For investors and stakeholders tracking GREENE COUNTY BANCORP INC, this filing contains several important signals. This 10-Q filing provides a detailed look at Greene County Bancorp's financial position and equity structure as of the end of the third quarter of its fiscal year. Understanding the changes in equity accounts like Retained Earnings and Additional Paid-In Capital is crucial for assessing the company's financial health and growth trajectory.

Risk Assessment

Risk Level: low — GREENE COUNTY BANCORP INC shows low risk based on this filing. The filing is a standard 10-Q report, which is a routine disclosure for publicly traded companies and does not inherently contain significant new risks.

Analyst Insight

Review the detailed balance sheet and equity disclosures within the 10-Q to understand changes in financial position and retained earnings.

Key Numbers

• 2024-03-31 — Reporting Period End Date (Conformed period of report)
• 2024-05-10 — Filing Date (Filed as of date)
• 2023-06-30 — Fiscal Year End (Fiscal year end)
• 6036 — SIC Code (Standard Industrial Classification)

Key Players & Entities

• GREENE COUNTY BANCORP INC (company) — Filer name
• 302 MAIN STREET (location) — Business and mailing address
• CATSKILL (location) — City for business and mailing address
• NY (location) — State for business and mailing address
• 12414 (location) — ZIP code for business and mailing address
• 5189432600 (phone) — Business phone number

FAQ

Industry Context

Greene County Bancorp Inc. operates within the savings institutions sector, focusing on traditional banking services.

Regulatory Implications

The filing is made under the Securities Exchange Act of 1934, requiring regular disclosures from public companies.

What Investors Should Do

1. Analyze the balance sheet for changes in assets, liabilities, and equity.
2. Review the statement of cash flows for operating, investing, and financing activities.
3. Examine any footnotes or management's discussion and analysis for further insights into financial performance.

Key Dates

• 2024-03-31: Quarterly Period End — End of the reporting period for the 10-Q filing.
• 2024-05-10: Filing Date — Date the 10-Q was officially filed with the SEC.

Year-Over-Year Comparison

This is a 10-Q filing, representing a quarterly update. Specific comparative data from the previous quarter or year would be found within the document's financial statements.

Key Financial Figures

• $0.10 — nge on which registered Common Stock, $0.10 par value GCBC The Nasdaq Stock Mar

Filing Documents

• ef20026323_10q.htm (10-Q) — 3934KB
• ef20026323_ex31-1.htm (EX-31.1) — 9KB
• ef20026323_ex31-2.htm (EX-31.2) — 9KB
• ef20026323_ex32-1.htm (EX-32.1) — 5KB
• ef20026323_ex32-2.htm (EX-32.2) — 5KB
• image00002.jpg (GRAPHIC) — 4KB
• 0001140361-24-025343.txt (&nbsp;) — 18042KB
• gcbc-20240331.xsd (EX-101.SCH) — 68KB
• gcbc-20240331_cal.xml (EX-101.CAL) — 153KB
• gcbc-20240331_def.xml (EX-101.DEF) — 470KB
• gcbc-20240331_lab.xml (EX-101.LAB) — 1051KB
• gcbc-20240331_pre.xml (EX-101.PRE) — 703KB
• ef20026323_10q_htm.xml (XML) — 4375KB

Financial Statements (unaudited)

Financial Statements (unaudited) * Consolidated Statements of Financial Condition 3 * Consolidated Statements of Income 4 * Consolidated Statements of Comprehensive Income 5 * Consolidated Statements of Changes in Shareholders' Equity 6 * Consolidated Statements of Cash Flows 7 * Notes to Consolidated Financial Statements 8-32 Item 2.

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

Management's Discussion and Analysis of Financial Condition and Results of Operations 33-49 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 49 Item 4.

Controls and Procedures

Controls and Procedures 49 PART II. OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 50 Item 1A.

Risk Factors

Risk Factors 50 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 50 Item 3. Defaults Upon Senior Securities 50 Item 4. Mine Safety Disclosures 50 Item 5. Other Information 50 Item 6. Exhibits 50

Signatures

Signatures 51 2 Index Greene County Bancorp, Inc. Consolidated Financial Condition At March 31, 2024 and June 30, 2023 (Unaudited) (In thousands, except share and per share amounts) ASSETS March 31, 2024 June 30, 2023 Cash and due from banks $ 11,234 $ 15,305 Interest-bearing deposits 244,589 181,140 Total cash and cash equivalents 255,823 196,445 Long-term certificates of deposit 3,083 4,576 Securities available-for-sale, at fair value 345,519 281,133 Securities held-to-maturity, at amortized cost, net of allowance for credit losses of $ 498 at March 31 , 2024 700,371 726,363 Equity securities, at fair value 343 306 Federal Home Loan Bank stock, at cost 2,219 1,682 Loans receivable 1,477,635 1,408,866 Allowance for credit losses on loans ( 20,382 ) ( 21,212 ) Net loans receivable 1,457,253 1,387,654 Premises and equipment, net 15,651 15,028 Bank-owned life insurance 56,618 55,063 Accrued interest receivable 16,762 12,249 Foreclosed real estate 302 302 Prepaid expenses and other assets 17,567 17,482 Total assets $ 2,871,511 $ 2,698,283 LIABILITIES AND SHAREHOLDERS' EQUITY Noninterest-bearing deposits $ 131,452 $ 159,039 Interest-bearing deposits 2,425,655 2,278,122 Total deposits 2,557,107 2,437,161 Borrowings, short-term 2,000 - Borrowings, long-term 34,156 - Subordinated notes payable, net 49,635 49,495 Accrued expenses and other liabilities 29,428 28,344 Total liabilities 2,672,326 2,515,000 SHAREHOLDERS' EQUITY Preferred stock, Authorized - 1,000,000 shares; Issued - None - - Common stock, par value $ 0.10 per share; Authorized - 36,000,000 shares; Issued – 17,222,680 shares at March 31 , 2024 and June 30 , 2023 ; Outstanding – 17,026,828 shares at March 31 , 2024 , and June 30 , 2023 1,722 1,722 Additional paid-in capital 10,156 10,156 Retained earnings 208,632 193,721 Ac

View Full Filing

View this 10-Q filing on SEC EDGAR