GREENE COUNTY BANCORP NOT 'EMERGING GROWTH' COMPANY
Ticker: GCBC · Form: 8-K · Filed: Jan 17, 2024 · CIK: 1070524
| Field | Detail |
|---|---|
| Company | Greene County Bancorp Inc (GCBC) |
| Form Type | 8-K |
| Filed Date | Jan 17, 2024 |
| Risk Level | low |
| Pages | 2 |
| Reading Time | 2 min |
| Key Dollar Amounts | $0.10, $0.08, $0.32 |
| Sentiment | neutral |
Complexity: simple
Sentiment: neutral
Topics: regulatory-filing, corporate-governance, 8-K
TL;DR
**GCBC confirms it's not an emerging growth company, meaning full SEC compliance.**
AI Summary
GREENE COUNTY BANCORP, INC. filed an 8-K on January 17, 2024, indicating that it is not an emerging growth company and has not elected the extended transition period for new accounting standards. This filing primarily serves to update its status regarding SEC regulations, specifically noting its common stock, $0.10 par value, trades on The Nasdaq Stock Market under the symbol GCBC. For investors, this means the company is subject to full compliance with all public company reporting requirements without the leniency offered to emerging growth companies, potentially signaling greater transparency and regulatory oversight.
Why It Matters
This filing clarifies GREENE COUNTY BANCORP's regulatory status, confirming it operates under full public company reporting requirements, which can imply greater transparency and investor protection compared to emerging growth companies.
Risk Assessment
Risk Level: low — This filing is purely administrative and does not introduce new financial or operational risks to the company.
Analyst Insight
Investors should note that GREENE COUNTY BANCORP, INC. operates under full regulatory scrutiny, which can be a positive for transparency, but this filing itself doesn't provide new financial performance data to act upon.
Key Numbers
- $0.10 — par value per share (This is the stated par value for GREENE COUNTY BANCORP, INC.'s common stock.)
Key Players & Entities
- GREENE COUNTY BANCORP, INC. (company) — the registrant filing the 8-K
- The Nasdaq Stock Market (company) — the exchange where GCBC common stock is registered
- $0.10 (dollar_amount) — par value of common stock
- GCBC (company) — trading symbol for GREENE COUNTY BANCORP, INC.
Forward-Looking Statements
- GREENE COUNTY BANCORP, INC. will continue to adhere to full SEC reporting requirements. (GREENE COUNTY BANCORP, INC.) — high confidence, target: Ongoing
FAQ
What is the purpose of GREENE COUNTY BANCORP, INC.'s 8-K filing on January 17, 2024?
The 8-K filing on January 17, 2024, primarily serves to report that GREENE COUNTY BANCORP, INC. is not an 'emerging growth company' as defined by SEC rules and has not elected the extended transition period for new accounting standards.
What is the trading symbol and exchange for GREENE COUNTY BANCORP, INC. common stock?
The common stock of GREENE COUNTY BANCORP, INC. trades under the symbol GCBC on The Nasdaq Stock Market.
What is the par value of GREENE COUNTY BANCORP, INC.'s common stock?
The common stock of GREENE COUNTY BANCORP, INC. has a par value of $0.10 per share.
What does it mean for GREENE COUNTY BANCORP, INC. to not be an 'emerging growth company'?
Not being an 'emerging growth company' means GREENE COUNTY BANCORP, INC. is subject to the full scope of SEC reporting and disclosure requirements, without the scaled-back compliance options available to emerging growth companies under the JOBS Act.
Did GREENE COUNTY BANCORP, INC. elect the extended transition period for new accounting standards?
No, the filing indicates that GREENE COUNTY BANCORP, INC. has not elected to use the extended transition period for complying with any new or revised financial accounting standards.
Filing Stats: 533 words · 2 min read · ~2 pages · Grade level 9.9 · Accepted 2024-01-17 12:49:03
Key Financial Figures
- $0.10 — which registered Common Common Stock, $0.10 par value GCBC The Nasdaq Stock Mar
- $0.08 — s approved a quarterly cash dividend of $0.08 per share on the Company's common stock
- $0.32 — eflects an annual cash dividend rate of $0.32 per share which is the same rate as the
Filing Documents
- ef20019004_8k.htm (8-K) — 29KB
- ef20019004_ex99-1.htm (EX-99.1) — 6KB
- image0.jpg (GRAPHIC) — 110KB
- 0001140361-24-002476.txt ( ) — 320KB
- gcbc-20240117.xsd (EX-101.SCH) — 4KB
- gcbc-20240117_lab.xml (EX-101.LAB) — 22KB
- gcbc-20240117_pre.xml (EX-101.PRE) — 16KB
- ef20019004_8k_htm.xml (XML) — 4KB
01
Item 8.01 Other Events On January 17, 2024, Greene County Bancorp, Inc. (NASDAQ-GCBC) today announced that its Board of Directors has approved a quarterly cash dividend of $0.08 per share on the Company's common stock. The dividend reflects an annual cash dividend rate of $0.32 per share which is the same rate as the dividend declared during the previous quarter. A press release announcing the details of the dividend declaration is filed as exhibit 99.1. Greene County Bancorp, MHC (the "MHC"), the mutual holding company and majority stockholder of the Company, and owner of 9,218,528 shares of the Company's 17,026,828 total shares of common stock outstanding, has historically waived its right to receive cash dividends from the Company. The MHC intends to waive its receipt of these dividends to be paid by the Company for the quarter ended December 31, 2023.
Financial Statements and Exhibits
Financial Statements and Exhibits Exhibit No. Description 99.1 Press release dated January 17, 2024 Exhibit Number Description 104 Cover Page Interactive Data File (embedded within the Inline XBRL document)
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, hereunto duly authorized. GREENE COUNTY BANCORP, INC. DATE: January 17, 2024 By: /s/ Donald E. Gibson Donald E. Gibson President & Chief Executive Officer