secwatch.observer — SEC 8-K summary
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Issuer:     GREENE COUNTY BANCORP INC (GCBC)
CIK:        0001070524
Form:       8-K
Filed at:   2023-10-24T23:59:59+00:00
Accession:  0001140361-23-049286
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1070524/000114036123049286/0001140361-23-049286-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1070524/000114036123049286/ef20013079_8k.htm
  HTML page:      https://secwatch.observer/filing/0001140361-23-049286

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