Greene County Bancorp, Inc. Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended December 31, 2015
January 22, 2016 at 09:04 pm IST
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Greene County Bancorp, Inc. reported unaudited consolidated earnings results for the second quarter and six months ended December 31, 2015. For the quarter, the company reported interest income of $7,136,000 compared to $6,407,000 a year ago. Net interest income was $6,510,000 compared to $5,844,000 a year ago. Income before taxes was $3,018,000 compared to $2,483,000 a year ago. Net income was $2,320,000 or $0.55 per basic and diluted share compared to $1,811,000 or $0.43 per basic and diluted share a year ago. Return on average assets was 1.20% against 1.04% a year ago. Return on average equity was 13.32% against 11.39% a year ago.
For the six months, the company reported interest income of $13,999,000 compared to $12,648,000 a year ago. Net interest income was $12,759,000 compared to $11,523,000 a year ago. Income before taxes was $5,819,000 compared to $4,943,000 a year ago. Net income was $4,470,000 or $1.05 per basic and diluted share compared to $3,586,000 or $0.84 per basic and diluted share a year ago. Return on average assets was 1.18% against 1.05% a year ago. Return on average equity was 13.01% against 11.43% a year ago. Book value per share was $16.73 against $15.28 a year ago.
Greene County Bancorp, Inc. operates as the holding company of The Bank of Greene County (the Bank). The Bankâs principal business consists of attracting retail deposits from the general public in the areas surrounding its branches and investing those deposits, together with funds generated from operations and borrowings, primarily in residential mortgage loans, commercial real estate mortgage loans, consumer loans, home equity loans and commercial business loans. In addition, The Bank invests a significant portion of its assets in state and political subdivision securities and mortgage-backed securities. The Bank offers investment alternatives for customers. The Bank operates a subsidiary, Greene County Commercial Bank, which receives deposits only to the extent of accepting for deposit the funds of the United States and the state of New York and their respective agents, authorities and instrumentalities, and local governments. The Bank also operates a real estate investment trust.