Greene County Bancorp reported fiscal 2026 net income of $41.0 million, up $9.9 million, or 31.7%, from $31.1 million in fiscal 2025. Quarterly net income reached a company-record $11.3 million, up $2.0 million from $9.3 million a year earlier. Earnings per share rose to $2.41 for the year from $1.83, and to $0.67 for the quarter from $0.55.
Total assets climbed to a record $3.2 billion at June 30, 2026 from $3.0 billion a year earlier, an increase of $142.8 million, or 4.7%. Net loans also hit a record $1.7 billion. Total deposits were $2.7 billion at year-end.
Net interest income increased to $77.9 million for fiscal 2026 from $60.1 million in fiscal 2025, a gain of $17.8 million, or 29.6%. For the June quarter, net interest income rose to $21.1 million from $16.7 million, up $4.4 million, or 26.3%.
The company’s net interest margin widened to 2.65% for the year from 2.19%, an increase of 46 basis points. In the quarter, the margin rose to 2.86% from 2.37%, up 49 basis points. Net interest rate spread improved to 2.43% for the year from 1.97%, and to 2.65% for the quarter from 2.14%.
Pre-provision net income increased to $43.1 million from $32.5 million, up $10.6 million, or 32.7%.
Provision for credit losses was $2.0 million for fiscal 2026, compared with $1.3 million in fiscal 2025. For the June quarter, the company recorded a $126,000 provision, versus an $880,000 benefit a year earlier. The allowance for credit losses on loans edged up to 1.25% from 1.24%.
Nonperforming loans rose to $3.9 million from $3.1 million a year earlier. Nonperforming assets increased to 0.12% of total assets from 0.10%, while nonperforming loans increased to 0.23% of net loans from 0.19%.
Commercial and commercial real estate loans classified as substandard or special mention totaled $40.0 million, up from $39.4 million. Net charge-offs were $338,000 for the year, down slightly from $349,000, and $65,000 for the quarter, up from $44,000.
Noninterest income declined to $14.7 million for the year from $15.2 million, a drop of $566,000, or 3.7%. For the quarter, it was $3.8 million, up $61,000, or 1.6%.
Noninterest expense increased to $43.7 million from $39.4 million, up $4.3 million, or 11.0%. For the quarter, noninterest expense rose to $11.9 million from $10.4 million, an increase of $1.5 million, or 14.7%.
The effective tax rate was 12.4% for fiscal 2026, compared with 10.2% in fiscal 2025. For the June quarter, the rate was 12.3%, down from 14.8% a year earlier.
Cash and cash equivalents fell to $144.9 million from $183.1 million. Securities available-for-sale and held-to-maturity increased to $1.2 billion from $1.1 billion, up $45.1 million, or 4.0%.
The company also terminated its defined benefit pension plan during the year, settling remaining obligations for approximately $3.5 million. Today the company's shares have moved 0.57% to a price of $32.785. Check out the company's full 8-K submission here.
