GREENE COUNTY BANCORP INC
For the period ended Dec 31, 2023. Filed Feb 9, 2024.
View on SEC.govAbout this filing
A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Dec 31, 2023 · Filed Feb 9, 2024
GCBC$35.82-1.6%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
* Consolidated Statements of Cash Flows
For the Six Months Ended December 31, 2023 and 2022
| 2023 | 2022 | |
|---|---|---|
| Cash flows from operating activities: | ||
| Net Income | $12,176 | $16,234 |
| Adjustments to reconcile net income to net cash provided by operating activities: | ||
| Depreciation | 440 | 429 |
| Deferred income tax (benefit) expense | (48) | 671 |
| Net amortization of investment premiums and discounts | 657 | 1,410 |
| Net amortization of deferred loan costs and fees | 177 | 101 |
| Amortization of subordinated debt issuance costs | 93 | 93 |
| Provision for credit losses | 627 | (255) |
| Bank-owned life insurance income | (936) | (680) |
| Net loss on sale of available-for-sale securities | - | 251 |
| Net gain on equity securities | (19) | (8) |
| Net loss on sale of foreclosed real estate | - | 5 |
| Net increase (decrease) in accrued income taxes | 678 | (2,119) |
| Net increase in accrued interest receivable | (2,250) | (3,151) |
| Net increase in prepaid expenses and other assets | (1,060) | (238) |
| Net decrease in accrued expense and other liabilities | (2,275) | (2,701) |
| Net cash provided by operating activities | 8,260 | 10,042 |
| Cash flows from investing activities: | ||
| Securities available-for-sale: | ||
| Proceeds from maturities | 82,091 | 129,742 |
| Proceeds from sale of securities | - | 1,675 |
| Purchases of securities | (107,484) | (75,377) |
| Proceeds from principal payments on securities | 1,757 | 9,764 |
| Securities held-to-maturity: | ||
| Proceeds from maturities | 27,168 | 36,451 |
| Purchases of securities | (13,824) | (32,162) |
| Proceeds from principal payments on securities | 11,185 | 14,247 |
| Net (purchase) redemption of Federal Home Loan Bank Stock | (5,972) | 644 |
| Purchase of long-term certificate of deposit | - | (245) |
| Maturity of long-term certificates of deposit | 745 | 245 |
| Surrender of bank owned life insurance | 23,100 | - |
| Purchase of bank owned life insurance | (23,104) | - |
| Net increase in loans receivable | (48,702) | (138,357) |
| Proceeds from sale of foreclosed real estate | - | 63 |
| Purchases of premises and equipment | (644) | (517) |
| Net cash used in investing activities | (53,684) | (53,827) |
| Cash flows from financing activities | ||
| Net increase (decrease) in short-term FHLB advances | 125,000 | (16,100) |
| Proceeds from long-term FHLB advances | 4,374 | - |
| Payment of cash dividends | (1,991) | (1,098) |
| Net (decrease) increase in deposits | (102,324) | 52,790 |
| Net cash provided by financing activities | 25,059 | 35,592 |
| Net decrease in cash and cash equivalents | (20,365) | (8,193) |
| Cash and cash equivalents at beginning of period | 196,445 | 69,009 |
| Cash and cash equivalents at end of period | $176,080 | $60,816 |
| Cash paid during period for: | ||
| Interest | $24,354 | $7,198 |
| Income taxes | $1,000 | $4,471 |
Index
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.