Greene County ( (GCBC) ) has released its Q2 earnings. Here is a breakdown of the information Greene County presented to its investors.
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Greene County Bancorp, Inc. is the holding company for the Bank of Greene County and its subsidiary, Greene County Commercial Bank, offering community-based banking services across the Hudson Valley and Capital Region of New York State. In its recent earnings report, Greene County Bancorp, Inc. announced a net income of $7.5 million for the quarter ending December 31, 2024, marking a significant 31.2% increase from the same period in 2023. The company’s financial performance highlights include a record high in total assets at $2.97 billion and net loans at $1.53 billion. The company also reported an increase in net interest income to $14.1 million for the three months ended December 31, 2024, driven by a strategic focus on higher-yielding loans and securities, alongside a reduction in deposit rates. The firm’s return on average assets stood at 0.99% and return on average equity at 12.89% for the six months ended December 31, 2024. Looking ahead, Greene County Bancorp, Inc. aims to maintain its strong financial position by closely monitoring Federal Reserve policies and continuing to nurture long-term customer relationships.
