Greene County Bancorp (GCBC) investor relations material

Executive summary

• Net income for the quarter ended March 31, 2026, was $10.5 million, up from $8.1 million year-over-year; nine-month net income was $29.7 million, a 36.1% year-over-year increase.

• Total assets reached a record $3.2 billion, net loans $1.7 billion, and total deposits $2.8 billion as of March 31, 2026.

• Shareholders' equity increased to $267.6 million, driven by net income and reduced accumulated other comprehensive loss.

• Announced a stock repurchase program authorizing the buyback of up to 400,000 shares; no shares repurchased during the quarter.

Financial highlights

• Net interest income for the quarter was $20.2 million, up from $16.2 million year-over-year; nine-month net interest income was $56.8 million, up from $43.4 million.

• Net interest margin rose to 2.73% for the quarter and 2.59% for the nine months; fully taxable-equivalent net interest margin was 3.03% for the quarter and 2.88% for the nine months.

• Provision for credit losses was $451,000 for the quarter and $1.9 million for the nine months, down from prior periods.

• Noninterest income decreased 4.1% for the quarter and 5.5% for the nine months, mainly due to lower swap fee income and absence of prior year tax credits.

• Noninterest expense increased 12.3% for the quarter and 9.7% for the nine months, driven by pension plan settlement charges, higher salaries, and increased charitable contributions.

Outlook and guidance

• Management expects to maintain strong liquidity and capital positions, with sufficient funds to meet commitments and regulatory capital requirements.

• The Board declared a quarterly dividend of $0.10 per share, maintaining the annual rate at $0.40.

• Management remains focused on disciplined balance sheet management, emphasizing higher-yielding assets and prudent deposit pricing amid ongoing economic and geopolitical uncertainty.

• The company continues to prioritize long-term shareholder value and community banking relationships.