research report · GCBC

Greene County Bancorp Inc

Johannes Vermeer, Woman Holding a Balance, c. 1664, detail · National Gallery of Art

Viridis’s deep research report, written Nov 6, 2026 from its quarterly report (10-Q for the quarter ended Sep 30, 2026, filed Nov 6, 2026). Written and checked with Anthropic’s Claude models.

your email, no card; what you get

business trajectory

Improving

better on balance: sales, margins, cash or competitive position

financial resilience

Strong

can meet its obligations and fund its plan for two years with money it can count on, with room

Judgments of the business from its filings, not of its shares: no valuation, no advice.

bottom line

Greene County Bancorp is earning markedly more because it pays depositors less while its loans and bonds yield more, and its capital comfortably carries the risks that come with that. In the quarter to September 30, 2026, net income rose 40.9% to $12.5 million. The net interest margin (interest earned minus interest paid, as a share of earning assets) widened to 2.93% from 2.48%. The quarter's cost showed up off the income statement. Bonds held to maturity were worth $64.0 million less than their cost at September 30, up from $26.9 million at June 30, and neither book value nor regulatory capital records that loss. Core capital of 16.5% of risk-weighted assets, against a 6.5% well-capitalized minimum, leaves room even if it did.

what changed this quarter

  • Net income was $12.5M ($0.73 per share) against $8.9M ($0.52), and net interest income was $21.9M against $17.5M.
  • A $1.2M securities-sale loss was set against a $432K release of loss reserves. A year earlier the loss provision was a $1.3M charge.
  • Deposits rose $134.4M from June 30 to $2.85B. Borrowings fell to $66.2M from $155.1M, including a $10.0M subordinated note redemption on September 15 paid from cash on hand.
  • The accumulated unrealized bond loss in equity rose $3.5M to $15.0M, after the Federal Reserve raised rates 25 basis points in September.
  • The $0.11 quarterly dividend was repeated on October 21, with the mutual holding company waiving its share.

in the full report

Its findings, each with the evidence, the strongest counterpoint and what would prove it wrong:

  • A wider margin, built on cheaper deposits, carries the earnings
  • Higher rates are eroding the bond book's value out of sight
  • Deposit growth is seasonal municipal money, and liquidity headroom narrowed
  • Credit is clean, though the reserve release leaned on one repaid loan

Then its finances, the quality of its earnings, its management, the case for and against, and what to watch, its claims cited to the filings and checked against them.

read it whole

Your email and the code we send it, no card. The report then opens: a free account has 2 free reports a month from the library, the reports already written. Already have a Viridis account? Use its email, and the report goes on it. You also see what GCBC files, free: its deadlines and its red flags.

Subscribe: your plan’s reports work on any company that files with the SEC, written for you if nobody has asked yet, and each new one on the companies you choose comes as they file.

In Claude or ChatGPT, ask: “What does Viridis's report on GCBC say?” Add Viridis to Claude, or to ChatGPT.