Overview

* Greene County Bancorp ( GCBC ) fiscal Q1 net income rises 41.7% yr/yr to $8.9 mln

* Company achieves record highs in total assets, net loans, and total deposits

* Greene County Bancorp ( GCBC ) expands into Saratoga County with new Clifton Park office

Result Drivers

* BALANCE SHEET MANAGEMENT - Co strategically managed balance sheet by focusing on higher-yielding loans and securities, lowering deposit rates, resulting in higher net interest margin

* INCREASED NET INTEREST INCOME - Net interest income rose due to higher average balance of interest-earning assets and increased interest rates on these assets

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q1 EPS $0.52

Q1 Net $8.87

Income mln

Q1 Net $17.52

Interest mln

Income

Q1 Loan $1.26

Loss mln

Provisio

n

Q1 $10.19

Pretax mln

Profit

Press Release:

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)