secwatch.observer — SEC 8-K summary
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Issuer:     GREENE COUNTY BANCORP INC (GCBC)
CIK:        0001070524
Form:       8-K
Filed at:   2023-01-20T23:59:59+00:00
Accession:  0001140361-23-002283
Event type: earnings
Sentiment:  positive
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Greene County Bancorp reports record net income of $16.2M for H1 FY2023; EPS $1.91
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- Net income for six months ended Dec 31, 2022: $16.2M ($1.91 EPS), up 16% from $14.0M ($1.64 EPS) YoY; Q2 net income $7.2M ($0.85 EPS).
- Total assets $2.6B; net loans grew 11.3% to $1.4B, led by $110M commercial real estate loans.
- Provision for loan losses was a $255K benefit for six months vs $2.3M charge YoY; nonperforming loans fell to 0.39% of net loans.
- Net interest margin narrowed 4 bps to 2.57% for six months due to higher deposit costs; noninterest expense included $1.2M litigation reserve.
- Deposits grew 2.4% to $2.3B; shareholders' equity rose to $168.2M from $157.7M at June 30, 2022.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1070524/000114036123002283/0001140361-23-002283-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1070524/000114036123002283/brhc10046861_8k.htm
  HTML page:      https://secwatch.observer/filing/0001140361-23-002283

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