GREENE BANCORP, INC.

For the period ended Dec 31, 2024. Filed Feb 7, 2025.

About 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, 2024 · Filed Feb 7, 2025

GCBC$35.82-1.6%Stored close · as of Nov 10, 2026

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Contents

* Consolidated Statements of Income

Statements of Income

For the Three and Six Months Ended December 31, 2024 and 2023

(In thousands, except share and per share amounts)

	For the three months ended December 31,		For the six months ended December 31,
	2024	2023	2024	2023
Interest income:
Loans	$19,480	$17,776	$38,723	$34,981
Investment securities - tax exempt	4,943	4,334	9,411	8,624
Investment securities - taxable	3,598	2,378	6,967	4,639
Interest-bearing deposits and federal funds sold	1,397	1,105	2,086	2,021
Total interest income	29,418	25,593	57,187	50,265
Interest expense:
Interest on deposits	14,738	12,558	28,544	23,165
Interest on borrowings	612	647	1,439	1,273
Total interest expense	15,350	13,205	29,983	24,438
Net interest income	14,068	12,388	27,204	25,827
Provision for credit losses	478	170	1,112	627
Net interest income after provision for credit losses	13,590	12,218	26,092	25,200
Noninterest income:
Service charges on deposit accounts	1,273	1,227	2,499	2,457
Debit card fees	1,063	1,120	2,164	2,253
Investment services	252	206	500	449
E-commerce fees	34	30	71	59
Bank-owned life insurance	637	574	1,285	936
Other operating income	616	321	1,093	623
Total noninterest income	3,875	3,478	7,612	6,777
Noninterest expense:
Salaries and employee benefits	5,653	5,654	11,531	11,145
Occupancy expense	615	593	1,251	1,130
Equipment and furniture expense	193	238	343	376
Service and data processing fees	773	614	1,540	1,205
Computer software, supplies and support	404	471	759	982
Advertising and promotion	127	102	204	199
FDIC insurance premiums	347	314	669	626
Legal and professional fees	245	417	609	800
Other	1,029	923	2,030	1,708
Total noninterest expense	9,386	9,326	18,936	18,171
Income before provision for income taxes	8,079	6,370	14,768	13,806
Provision for income taxes	589	663	1,017	1,630
Net income	$7,490	$5,707	$13,751	$12,176
Basic and diluted earnings per share	$0.44	$0.34	$0.81	$0.72
Basic and diluted average shares outstanding	17,026,828	17,026,828	17,026,828	17,026,828

Index

ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.