Greene County Bancorp (GCBC) Q4 2025 earnings summary

Executive summary

• Achieved record net income of $31.1 million for the fiscal year ended June 30, 2025, up 25.7% year-over-year; quarterly net income was $9.3 million, up 38.6% from the prior year quarter.

• Total assets reached a record $3.0 billion, with net loans at $1.6 billion and deposits at $2.6 billion as of June 30, 2025.

• Announced expansion into Saratoga County, increasing the branch network to six counties in New York.

• Recognized as the fastest growing large company and top commercial mortgage lender in New York's Capital Region.

Financial highlights

• Net interest income rose to $60.1 million for the year, up $9.1 million from the prior year; quarterly net interest income was $16.7 million, up $3.8 million year-over-year.

• Pre-provision net income was $32.5 million for the year, up 27.1% year-over-year.

• Noninterest income increased 9.5% to $15.2 million for the year, aided by a $610,000 Employee Retention Tax Credit and higher fee income.

• Noninterest expense rose 5.6% to $39.4 million, mainly due to higher salaries, data processing fees, and credit loss allowances.

• Provision for credit losses was $1.3 million for the year, reflecting loan growth and economic forecast adjustments.

Outlook and guidance

• Management will continue to monitor Federal Reserve actions and adjust deposit rates accordingly, focusing on maintaining customer relationships and competitive offerings.

• Expansion into Saratoga County is expected to further strengthen the company's regional presence.