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Greene County Company profile

About Greene County Bancorp Inc

Greene County Bancorp, Inc. is the holding company for The Bank of Greene County (the Bank), a community-based bank. The Company's principal business is overseeing and directing the business of The Bank of Greene County and monitoring its cash position. The Bank through its affiliation with Fenimore Asset Management and Infinex Corporation, offers investment alternatives for customers. The Bank operates a subsidiary, Greene County Commercial Bank. The Bank also operates a real estate investment trust, Greene Property Holdings, Ltd. The bank transfers beneficial ownership of certain mortgages and notes to Greene Property Holdings, Ltd. The Company's pooled captive insurance company subsidiary, Greene Risk Management, Inc., provides additional insurance coverage for the Company's business operations. The Bank operates 17 banking offices, operations center and lending center located in its market area within the Hudson Valley and Capital District Region of New York State.

Financial summary

BRIEF: For the six months ended 31 December 2021, Greene County Bancorp Inc interest income increased 11% to $31.4M. Net interest income after loan loss provision increased 16% to $26.6M. Net income increased 26% to $14M. Net interest income after loan loss provision reflects Loans increase of 10% to $24.1M, Investment securities tax exempt increase of 10% to $4.3M. Net income benefited from Savings/Checking decrease of 31% to $1.7M (expense).

Equity composition

Common Stock $.10 Par, 12/10, 12M auth., 4,305,670 issd., less 170,175 shs in Treas @ $ 1.3M. Insiders own 64.28%. Initial Public Offering: 1/99, 871,000 shares @ $10 by Friedman, Billings, Ramsey & Company. 7/99, 10% stock dividend. 6/05, 2-for-1 stock split. 03/16, 2-for-1 stock split.