GREENE BANCORP, INC.
For the period ended Mar 31, 2025. Filed May 9, 2025.
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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.
Mar 31, 2025 · Filed May 9, 2025
GCBC$35.82-1.6%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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* Consolidated Statements of Cash Flows
For the Nine Months Ended March 31, 2025 and 2024
| 2025 | 2024 | |
|---|---|---|
| Cash flows from operating activities: | ||
| Net Income | $21,805 | $18,037 |
| Adjustments to reconcile net income to net cash provided by operating activities: | ||
| Depreciation | 790 | 685 |
| Deferred income tax (benefit) expense | (1,877) | (394) |
| Net (accretion) amortization of investment premiums and discounts | (259) | 580 |
| Net amortization of deferred loan costs and fees | 274 | 289 |
| Amortization of subordinated debt issuance costs | 139 | 140 |
| Provision for credit losses | 2,196 | 917 |
| Bank-owned life insurance income | (1,910) | (1,551) |
| Net loss on sale of securities available-for-sale | 665 | - |
| Net gain on equity securities | (72) | (37) |
| Net increase in accrued income taxes | 384 | 821 |
| Net increase in accrued interest receivable | (4,164) | (4,513) |
| Net increase in prepaid expenses and other assets | (1,958) | (689) |
| Net decrease in accrued expense and other liabilities | (1,248) | (440) |
| Net cash provided by operating activities | 14,765 | 13,845 |
| Cash flows from investing activities: | ||
| Securities available-for-sale: | ||
| Proceeds from maturities | 132,556 | 104,739 |
| Proceeds from sale of securities | 6,676 | - |
| Purchases of securities | (193,953) | (170,192) |
| Proceeds from principal payments on securities | 55,971 | 2,498 |
| Securities held-to-maturity: | ||
| Proceeds from maturities | 32,223 | 36,394 |
| Purchases of securities | (136,916) | (24,341) |
| Proceeds from principal payments on securities | 13,527 | 12,796 |
| Net redemption (purchase) of Federal Home Loan Bank Stock | 3,462 | (537) |
| Maturity of long-term certificates of deposit | 1,185 | 1,480 |
| Surrender of bank owned life insurance | - | 23,100 |
| Purchase of bank owned life insurance | - | (23,104) |
| Net increase in loans receivable | (120,484) | (69,478) |
| Purchases of premises and equipment | (386) | (1,308) |
| Net cash used in investing activities | (206,139) | (107,953) |
| Cash flows from financing activities: | ||
| Net (decrease) increase in short-term advances | (73,300) | 2,000 |
| Proceeds from term advances | - | 34,156 |
| Repayment of long-term advances | (31,961) | - |
| Payment of cash dividends | (3,772) | (2,616) |
| Net increase in deposits | 265,495 | 119,946 |
| Net cash provided by financing activities | 156,462 | 153,486 |
| Net (decrease) increase in cash and cash equivalents | (34,912) | 59,378 |
| Cash and cash equivalents at beginning of period | 190,395 | 196,445 |
| Cash and cash equivalents at end of period | $155,483 | $255,823 |
| Cash paid during period for: | ||
| Interest | $44,490 | $38,357 |
| Income taxes | $825 | $1,525 |
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