Record earnings driven by margin expansion and balance sheet growth with improving credit quality. Watch for continued net interest margin trajectory given the 46 bps spread improvement and the impact of the subordinated note redemption on future interest expense. The proposed name change to Greene Bancorp, Inc. at the November 7 annual meeting is a non-operational event.
Price Chart
Executive Summary
Greene County Bancorp reported record net income of $12.5M ($0.73 EPS) for Q1 FY2027, up 40.9% YoY from $8.9M ($0.52 EPS), driven by net interest margin expansion of 45 bps to 2.93% and a $4.4M increase in net interest income. Total assets reached a record $3.2B, and credit quality improved with nonperforming loans declining to 0.18% of net loans. The strong operating performance and margin expansion signal continued momentum for this community bank.
Key Financial Metrics
Key Facts
- Net income of $12.5M ($0.73 EPS) for Q1 FY2027 vs $8.9M ($0.52 EPS) in prior-year quarter, a 40.9% increase
- Net interest margin expanded 45 bps to 2.93% from 2.48% a year ago
- 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
- Provision for credit losses was a benefit of $432K vs a charge of $1.3M in prior year
- Nonperforming loans declined to 0.18% of net loans from 0.23% at June 30, 2026
- Borrowings decreased $88.9M to $66.2M, with $10M subordinated notes redeemed
- Return on average assets improved to 1.61% from 1.21%
- Return on average equity improved to 17.73% from 14.59%
Financial Impact
Net income increased $3.6M (40.9%) YoY to $12.5M; net interest income rose $4.4M (25.1%) to $21.9M
Risk Factors
- Noninterest income declined 27% due to $1.2M loss on securities sales and lower swap income
- Noninterest expense increased 7.4% driven by higher salaries and benefits
- Uncertainty around interest rate direction and inflation could pressure margins
- Concentrated loan portfolio in Hudson Valley/Capital Region real estate
Investment Themes
Documents Analyzed
This report is based on 1 press release from GlobeNewswire.
| Document | Accession Number |
|---|---|
| PRESS-RELEASE Data (Synthetic) | press-3386241 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 22, 2026 4d ago | 8-K | $36.01 | awaiting T+60 | — | $35.75 (−0.72%) |
Oct 22, 2026 4d ago | Press Release | $36.01 | awaiting T+60 | — | $35.75 (−0.72%) |
Oct 21, 2026 5d ago | 8-K | $34.57 | awaiting T+60 | — | $35.75 (+3.41%) |
Oct 21, 2026 5d ago | Press Release | $34.57 | awaiting T+60 | — | $35.75 (+3.41%) |
Sep 25, 2026 4w ago | DEFA14A | $34.46 | awaiting T+60 | — | $35.75 (+3.74%) |
Sep 25, 2026 4w ago | DEF 14A | $34.46 | awaiting T+60 | — | $35.75 (+3.74%) |
Sep 15, 2026 5w ago | 8-K | $36.02 | awaiting T+60 | — | $35.75 (−0.75%) |
Jul 23, 2026 13w ago | 8-K | $32.68 $34.25 | ▲ +4.82% | ▲ +0.27% | $35.75 (+9.41%) |
Jul 22, 2026 13w ago | 8-K | $32.60 $34.25 | ▲ +5.06% | ▲ +1.80% | $35.75 (+9.66%) |
Jun 22, 2026 18w ago | 8-K | $29.09 $36.02 | ▲ +23.82% | ▲ +22.08% | $35.75 (+22.89%) |
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