Greene County Bancorp, Inc. reported a solid financial performance for the second quarter of fiscal year 2026, ending December 31, 2025, with net income reaching $10.3 million, a 37.9% increase from $7.5 million in the same period last year. For the six months ended December 31, 2025, net income totaled $19.2 million, up from $13.8 million in the prior year. The company's earnings per share rose to $0.60 for the quarter and $1.13 for the six months, compared to $0.44 and $0.81, respectively, in the previous year.
Total assets increased by $106.4 million, or 3.5%, to $3.1 billion as of December 31, 2025, driven by a $58.6 million rise in net loans receivable, which reached $1.7 billion. The allowance for credit losses on loans also increased to $21.3 million, reflecting a 5.9% rise from $20.1 million at the end of June 2025, primarily due to higher loan volumes. The company’s total deposits remained stable at $2.6 billion, with notable shifts in deposit types, including a decrease in noninterest-bearing deposits and an increase in NOW deposits.
Strategically, Greene County Bancorp has focused on enhancing its securities portfolio, which grew by $89.7 million, or 7.9%, to $1.2 billion. The company has actively managed its investment strategy, purchasing $459.6 million in securities while also experiencing significant principal pay-downs and maturities. The composition of the securities portfolio remains conservative, with a focus on high-quality, investment-grade securities.
Operationally, the company has maintained a strong capital position, with shareholders' equity increasing to $258.3 million, up from $238.8 million at the end of June 2025. The company’s capital ratios indicate a well-capitalized status, with total risk-based capital at 16.9% as of December 31, 2025. Looking ahead, Greene County Bancorp anticipates continued growth in its loan portfolio and a stable economic environment, although it remains vigilant regarding potential market fluctuations and credit risks.
About GREENE COUNTY BANCORP INC
Greene County Bancorp, Inc. is a holding company for the Bank of Greene County, a federally chartered savings bank serving communities in New York's Hudson Valley and Capital District. It offers retail banking, mortgage, commercial, and consumer loans, along with deposit services. The company emphasizes community-focused financial products, real estate and commercial lending, and investment in securities, competing in a dense regional market with a focus on safety, liquidity, and regulatory compliance.
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