---
schema_version: "secwatch.filing_event.v1"
accession: "0001140361-23-049286"
form_type: "8-K"
ticker: "GCBC"
cik: "0001070524"
company_name: "GREENE COUNTY BANCORP INC"
filed_at: "2023-10-24T23:59:59+00:00"
generated_at: "2026-06-09T13:18:17.359836+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Q1 net income falls 28.4% to $6.5M; net interest margin narrows 46 bps

## Summary
- Net income $6.5M ($0.38 EPS) vs $9.0M ($0.53 EPS) prior year, down 28.4%.
- Net loans reached record $1.43B, up 2.9% from June 30; total assets $2.7B.
- Net interest margin compressed to 2.12% from 2.58% YoY due to rising deposit costs.
- CECL adoption day-one reduced retained earnings by $510k; provision for credit losses $457k.
- Named to Piper Sandler Sm-All Stars Class of 2023 for seventh consecutive year.

## SEC filing metadata
- accession: 0001140361-23-049286
- form_type: 8-K
- ticker: GCBC
- cik: 0001070524
- company_name: GREENE COUNTY BANCORP INC
- filed_at: 2023-10-24T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1070524/000114036123049286/0001140361-23-049286-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1070524/000114036123049286/ef20013079_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001140361-23-049286
- JSON: https://secwatch.observer/filing/0001140361-23-049286.json
- Plain text: https://secwatch.observer/filing/0001140361-23-049286.txt

## Key facts
- Earnings Releases
  GREENE COUNTY BANCORP INC reported the three months ended September 30, 2023 results: net income $6.5 million, EPS $0.38 per basic and diluted share.
  - Period: the three months ended September 30, 2023
  - Net income: $6.5 million
  - EPS: $0.38 per basic and diluted share
  - Result: reported results
  source text: Greene County Bancorp, Inc. Reports Net Income of $6.5 million for the Three Months Ended September 30, 2023
  evidence_url: https://www.sec.gov/Archives/edgar/data/1070524/000114036123049286/0001140361-23-049286-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.