secwatch.observer — SEC 8-K summary
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Issuer:     GREENE COUNTY BANCORP INC (GCBC)
CIK:        0001070524
Form:       8-K
Filed at:   2024-07-23T23:59:59+00:00
Accession:  0001140361-24-033828
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1070524/000114036124033828/0001140361-24-033828-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1070524/000114036124033828/ef20032880_8k.htm
  HTML page:      https://secwatch.observer/filing/0001140361-24-033828

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