The combination of accelerating net income growth (41% YoY), margin expansion, improving credit quality, and a cleaner balance sheet (borrowings down $89M) makes this a strong fundamental beat. Watch for continued margin expansion as the bank benefits from asset repricing and disciplined deposit pricing in a stable-to-lower rate environment.
Price Chart
Executive Summary
Greene County Bancorp, Inc. reported record net income of $12.5 million ($0.73 per share) for the fiscal first quarter ended September 30, 2026, a 40.9% increase from $8.9 million ($0.52 per share) in the prior-year quarter. The quarter featured strong net interest margin expansion to 2.93% (up 45 bps YoY), a benefit from credit losses of $432,000 versus a charge of $1.3 million last year, and record total assets of $3.2 billion. This continues the strong earnings momentum from the record fiscal 2026 year reported in July.
Key Financial Metrics
Key Facts
- Net income of $12.5 million, a new record high, up 40.9% YoY from $8.9 million
- EPS of $0.73, up 40.4% from $0.52 in Q1 FY2026
- Net interest margin expanded 45 bps to 2.93% from 2.48%
- Provision for credit losses was a benefit of $432,000 vs. a charge of $1.3 million last year
- Total assets reached a record $3.2 billion; net loans grew 1.3% sequentially to $1.8 billion
- Deposits increased 5.0% sequentially to $2.8 billion
- Borrowings reduced by $88.9 million to $66.2 million, improving the balance sheet
- Nonperforming loans declined to 0.18% of net loans from 0.23% at June 30, 2026
- Return on average assets was 1.61% and return on average equity was 17.73%
Financial Impact
Net income increased $3.6 million (40.9%) to $12.5 million; EPS rose $0.21 to $0.73
Risk Factors
- Noninterest income fell 27% due to a $1.2M loss on securities sales and lower swap fee income
- Noninterest expense rose 7.4% driven by higher salaries and benefits
- The bank faces a name change vote on November 7, 2026, which introduces minor corporate event risk
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001140361-26-040453 |
| Document: ef20084209_8k.htm | 0001140361-26-040453 |
| Document: 0001140361-26-040453-index-headers.html | 0001140361-26-040453 |
| Document: 0001140361-26-040453-index.html | 0001140361-26-040453 |
| Document: 0001140361-26-040453.txt | 0001140361-26-040453 |
| 8-K Data (Synthetic) | 0001140361-26-040453 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 22, 2026 5d ago | 8-K | $36.01 | awaiting T+60 | — | $35.82 (−0.53%) |
Oct 22, 2026 5d ago | Press Release | $36.01 | awaiting T+60 | — | $35.82 (−0.53%) |
Oct 21, 2026 6d ago | 8-K | $34.57 | awaiting T+60 | — | $35.82 (+3.62%) |
Oct 21, 2026 6d ago | Press Release | $34.57 | awaiting T+60 | — | $35.82 (+3.62%) |
Sep 25, 2026 4w ago | DEFA14A | $34.46 | awaiting T+60 | — | $35.82 (+3.95%) |
Sep 25, 2026 4w ago | DEF 14A | $34.46 | awaiting T+60 | — | $35.82 (+3.95%) |
Sep 15, 2026 6w ago | 8-K | $36.02 | awaiting T+60 | — | $35.82 (−0.56%) |
Jul 23, 2026 13w ago | 8-K | $32.68 $34.25 | ▲ +4.82% | ▲ +0.27% | $35.82 (+9.63%) |
Jul 22, 2026 13w ago | 8-K | $32.60 $34.25 | ▲ +5.06% | ▲ +1.80% | $35.82 (+9.88%) |
Jun 22, 2026 18w ago | 8-K | $29.09 $36.02 | ▲ +23.82% | ▲ +22.08% | $35.82 (+23.14%) |
US Market Status
Subscribe to SecBot
Get Real-Time SEC Filing Intelligence
Comprehensive SEC filing analysis delivered the moment filings hit EDGAR. Sentiment scoring, impact analysis, and actionable insights for every material event.
Create a free account Live analysis, Telegram alerts, watchlists and the MCP server for subscribers