The Greene County Court House in Catskill, where Greene County Bancorp, parent of Bank of Greene, is based. Photo: KForce, CC BY-SA 3.0, via Wikimedia Commons.
Greene County Bancorp, the Catskill holding company for Bank of Greene, reported net income of $12.5 million, or $0.73 a share, for the three months ended Sept. 30, up $3.6 million, or 40.9 percent, from $8.9 million, or $0.52 a share, a year earlier. The company, whose fiscal year ends June 30, called it a record quarter in an Oct. 22 release. The figures are preliminary.
Total assets, net loans and deposits also hit record highs at Sept. 30, the company said: $3.2 billion in assets, $1.8 billion in net loans and $2.8 billion in deposits. Net interest income was $21.9 million, compared with $17.5 million in the same quarter of 2025. Return on average assets was 1.61 percent, and return on average equity was 17.73 percent.
The bank’s legal name changed from the Bank of Greene County to Bank of Greene on Sept. 14, a move the company said has no effect on operations or on its consolidated financial statements. Shareholders were scheduled to consider a related proposal at the annual meeting on Nov. 7 to change the holding company’s name to Greene Bancorp, Inc., with the change expected to take effect after certification of the vote on Nov. 9 if approved. The Nasdaq ticker, GCBC, was not expected to change.
“This quarter marked an important milestone as we introduced the Bank of Greene name and delivered record quarterly earnings,” President and CEO Donald Gibson said in the release. “Our new name reflects the broader region we serve and the relationships we continue to build across the Hudson Valley and Capital Region.”
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