---
schema_version: "secwatch.filing_event.v1"
accession: "0001140361-24-033828"
form_type: "8-K"
ticker: "GCBC"
cik: "0001070524"
company_name: "GREENE COUNTY BANCORP INC"
filed_at: "2024-07-23T23:59:59+00:00"
generated_at: "2026-05-31T17:47:47.677596+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Greene County Bancorp FY24 net income down 19.5% to $24.8M; NIM compresses 47 bps

## Summary
- Net income for FY2024 $24.8M ($1.45 EPS) down 19.5% from $30.8M ($1.81 EPS) in FY2023.
- Net interest margin fell 47 bps to 1.98% due to deposit cost increases outpacing asset repricing.
- Total assets hit record $2.8B; net loans grew 6.7% to $1.5B.
- Deposits decreased 2.0% to $2.39B; borrowings rose to $199.1M from $49.5M.
- Selected for KBW Bank Honor Roll for 13th consecutive year; effective tax rate fell to 7.6%.

## SEC filing metadata
- accession: 0001140361-24-033828
- form_type: 8-K
- ticker: GCBC
- cik: 0001070524
- company_name: GREENE COUNTY BANCORP INC
- filed_at: 2024-07-23T23:59:59+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/1070524/000114036124033828/0001140361-24-033828-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1070524/000114036124033828/ef20032880_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001140361-24-033828
- JSON: https://secwatch.observer/filing/0001140361-24-033828.json
- Plain text: https://secwatch.observer/filing/0001140361-24-033828.txt

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