GREENE COUNTY BANCORP INC

Greene County Bancorp, MHC and Greene County Bancorp, Inc.

Overview

Greene County Bancorp, MHC is a mutual holding company formed in December 1998 and converted to a federal charter in 2001. It is regulated by the Federal Reserve Board. Greene County Bancorp, Inc. is the federally chartered holding company of The Bank of Greene County. Greene County Bancorp, MHC holds a majority stake (54.1%) in Greene County Bancorp, Inc.; the remainder is held by public stockholders and the Bank of Greene County’s Employee Stock Ownership Plan (ESOP).

At June 30, 2026:

• Public holders (including executive officers and directors): 7,806,957 shares
• Treasury shares: 197,195 shares
• Greene County Bancorp, MHC: 9,218,528 shares

Greene County Bancorp, MHC’s activities are limited to holding a majority of Greene County Bancorp, Inc.’s common stock and investing liquid assets.

Principal subsidiaries and business lines

• The Bank of Greene County — federally chartered savings bank and the main operating subsidiary
• Greene County Commercial Bank — New York State-chartered limited-purpose commercial bank (deposits limited to eligible public-sector and government-related funds)
• Greene Property Holdings, Ltd. — New York corporation organized as a real estate investment trust; owns mortgages/notes and is serviced by the Bank under a servicing agreement

Market footprint

• 19 full-service banking offices and related facilities (lending centers, operations center, call center, administration center, wealth management center) as of mid-2026
• Primary market: Hudson Valley and Capital District regions of New York State
• Primary counties served: Greene, Columbia, Albany, Ulster, Rensselaer, Saratoga

Population estimates (2025):

• Greene County: ~47,000
• Columbia County: ~60,000
• Albany County: ~321,000
• Ulster County: ~183,000
• Rensselaer County: ~161,000
• Saratoga County: ~241,000

Deposits and insurance

The Bank of Greene County’s deposits are insured by the Federal Deposit Insurance Corporation (FDIC) up to statutory limits. The Bank focuses on attracting retail, commercial, and municipal deposits and investing those funds in mortgage-related assets, real estate loans, consumer loans, and other securities.

Products and services

• Core lending: residential mortgage loans, commercial real estate mortgage loans, commercial loans, consumer loans, home equity loans, and lines of credit
• Investments: holdings in state and political subdivision securities and mortgage-backed securities
• Revenue sources: interest income on mortgages and loans, servicing fees, service charges, debit card income, and bank-owned life insurance income
• Wealth management and investment services are offered through Greene Investment Services (the Bank’s rebranded investment services channel)

Non-GAAP and regulatory notes

The company discloses certain non-GAAP measures (for example, Fully Tax-Equivalent Net Interest Income and Net Interest Margin) with reconciliations where applicable. These non-GAAP disclosures are presented as supplemental information; capital measures and other regulatory metrics are also used in industry reporting.

Financial snapshot (balances as of June 30, 2026; amounts in thousands USD)

• Greene County Bancorp, Inc. (consolidated)

  • Assets: 3,183,427
  • Deposits: 2,713,399
  • Borrowings: 155,145
  • Equity: 277,831

• The Bank of Greene County (consolidated)

  • Assets: 3,183,385
  • Deposits: 2,728,520
  • Borrowings: 125,166
  • Equity: 292,956

• Greene County Commercial Bank

  • Assets: 1,251,508
  • Deposits: 1,192,996
  • Equity: 125,694

• Greene Property Holdings, Ltd.

  • Assets: 687,413
  • Equity: 687,413

(All amounts in thousands USD)

Lending philosophy and underwriting

• Primary activity: originate fixed-rate and adjustable-rate mortgage loans for retention in the portfolio, primarily secured by residential and commercial real estate within the primary market area
• Additional lending: home equity loans, lines of credit, consumer loans, and commercial business loans
• Underwriting approach: conservative, with emphasis on borrower cash flow and ability to service debt, collateral value and marketability, borrower character, and other relevant factors
• Appraisal practices: appraisals obtained at origination; updated appraisals for delinquent loans or when collateral value has changed; appraisals generally required for loan modifications or refinancings to confirm collateral adequacy
• Interest rate risk management: mix of fixed- and adjustable-rate loans; typical terms include commercial loans (5–10 years), residential loans (10–20 years), consumer loans (3–5 years). A 30-year fixed-rate term is offered through the Bank’s first-time homebuyer program (30-year amortization).

Competitive landscape

The company competes with traditional lenders (commercial banks, savings banks, mortgage banks, credit unions) and non-depository competitors (mutual funds, brokerage firms, fintechs, insurers). Competition has increased due to interstate banking, the Gramm-Leach-Bliley Act, and consolidation in financial services. The internet is an important factor in deposit and loan origination and other customer services.

Regulatory and governance

The holding company structure and regulatory oversight have evolved over time, including conversion of the holding company to a federal charter and transfer of regulation of savings and loan holding companies to the Federal Reserve under the Dodd-Frank Act. The Bank of Greene County operates under FDIC insurance and complies with banking laws and capital requirements typical for community banks.