Greene County Bancorp Inc. reported QQ1 2025 results with revenue of $16.873 million and net income of $6.261 million, translating to a net margin of 37.1% and an EPS of $0.37. Operating income stood at $6.689 million, yielding an operating margin of 39.64%. Year-over-year revenue was flat-to-slightly higher (+0.81%), while net income declined modestly versus the prior year period (-3.22%). On a quarter-over-quarter basis, revenue rose by 1.79% and net income declined by 7.00%, underscoring a period of stable topline performance but evolving cost dynamics. A notable feature of QQ1 2025 is the substantial interest expense of $14.633 million, which implies funding costs that weigh on pretax profitability and highlight the bank’s atypical — relative to classic loan-margin drivers — earnings mix for a small regional bank.
The balance sheet shows a very strong liquidity position and an investment-heavy asset base. Total assets are $2.874 billion, with cash and short-term investments of $580.6 million and long-term investments of $2.183 billion, contributing to an exceptionally high current ratio of 29.93x. However, liabilities also run high, with total liabilities of $2.659 billion against $216.3 million in equity, yielding a leveraged but conservatively funded balance sheet by some liquidity metrics. The company reports a modest leverage profile by traditional debt ratios (debt ratio of 4.96% and debt-to-capitalization around 39.7%), and a price-to-book multiple of 2.43x, suggesting the market is pricing in both the bank’s capital position and its investment-portfolio risk/return profile.
Looking forward, management did not publish explicit.qq_forward-looking guidance in the provided materials. Investors should monitor deposit growth, loan origination trends within the Bank of Greene County franchise, and changes in the yield on the investment portfolio as rates move. The near-term earnings trajectory appears sensitive to funding costs and investment valuations, even as the base business demonstrates cash-generating capability and solid quarterly profitability. Overall, the QQ1 2025 results depict a resilient regional bank with ample liquidity and a meaningful investment portfolio, balanced by elevated interest costs and a lean equity base.