Greene County Bancorp, Inc. Reports Net Income of $8.9 Million for the Three Months Ended September 30, 2025, and Finalized Expansion Plans into Saratoga County

About this update from Greene County Bancorp, Inc.

CATSKILL, N.Y., Oct. 21, 2025 (GLOBE NEWSWIRE) -- Greene County Bancorp, Inc. (the “Company”) (NASDAQ: GCBC), the holding company for the Bank of Greene County and its subsidiary Greene County Commercial Bank, today reported net income for the three months ended September 30, 2025, which is the first quarter of the Company’s fiscal year ending June 30, 2026. Net income for the three months ended September 30, 2025, was $8.9 million, or $0.52 per basic and diluted share, as compared to $6.3 million, or $0.37 per basic and diluted share, for the three months ended September 30, 2024. Net income increased $2.6 million, or 41.7%, when comparing the three months ended September 30, 2025 and 2024. Highlights: Donald Gibson, President & CEO, stated: “I am extremely pleased to report that in the prior six-month period, the Company earned a historical net income record of over $18.2 million, representing another period of powerful performance and consistent growth for Greene County Bancorp, Inc. Our continued growth and strong earnings reflect the dedication of our employees, the loyalty of our customers, and the trust placed in us by our communities. During the quarter ended September 30, 2025, we reached record highs in total assets, loans, deposits, and equity, underscoring the strength of our balance sheet and resilience of our business model. We are excited to announce that we have finalized our expansion plans into Saratoga County, with a grand opening and ribbon cutting ceremony for our new Clifton Park office on Saturday, October 25, 2025. This expansion marks our entry into one of New York State’s most vibrant and growing markets. As we celebrate these milestones, we remain focused on delivering value to our shareholders, customers, and communities through prudent growth, exceptional service, and continued commitment to community banking excellence.” Total consolidated assets for the Company were $3.1 billion at September 30, 2025, primarily consisting of $1.6 billion of net loans and $1.1 billion of total securities available-for-sale and held-to-maturity. Consolidated deposits totaled $2.7 billion at September 30, 2025, consisting of retail, business, municipal and private banking relationships. Pre-provision net income was $10.1 million for the three months ended September 30, 2025 as compared to $6.9 million for the three months ended September 30, 2024, an increase of $3.2 million, or 46.9%. Pre-provision net income measures the Company’s net income less the provision for credit losses. Management believes that this non-GAAP measure assists investors in comprehending the impact of the provision for credit losses on the Company’s reported results, offering an alternative view of the Company’s performance and the Company’s ability to generate income in excess of its provision for credit losses. The Company strategically managed its balance sheet by focusing on higher-yielding loans and securities and lowering deposit rates to align with the Federal Reserve’s recent interest rate cuts. This resulted in a higher net interest margin for the three months ended September 30, 2025 as compared to the three months ended September 30, 2024. The Company will continue to monitor the Federal Reserve and interest rates paid on deposits, while maintaining our long-term customer relationships. Selected highlights for the three months ended September 30, 2025 are as follows: Net Interest Income and Margin Credit Quality and Provision for Credit Losses Noninterest Income and Noninterest Expense Income Taxes Balance Sheet Summary Corporate Overview Greene County Bancorp, Inc. is the holding company for the Bank of Greene County, and its subsidiary Greene County Commercial Bank. The Company is the leading provider of community-based banking services throughout the Hudson Valley and Capital Region of New York State. Its customers include individuals, businesses, municipalities and other institutions. Greene County Bancorp, Inc. (GCBC) is publicly traded on the Nasdaq Capital Market and is dedicated to promoting economic development and a high quality of life in the communities it serves. For more information on Greene County Bancorp, Inc., visit www.tbogc.com . Forward-Looking Statements This earnings release contains statements about future events that constitute forward-looking statements, as defined in the Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by references to a future period or periods or by the use of the words “believe,” “expect,” “anticipate,” “intend,” “estimate,” “assume,” “will,” “should,” “could,” “plan,” and other similar terms of expressions. Forward-looking statements should not be relied on because they involve known and unknown risks, uncertainties and other factors, many of which are beyond the Company’s control. These risks, uncertainties and other factors may cause the actual results, performance or achievements expressed in, or implied by, the forward-looking statements to differ materially from those contemplated by the forward-looking statements. Factors that may cause such a difference include, but are not limited to, local, regional, national and international general economic conditions, including actual or potential stress in the banking industry, financial and regulatory changes, changes in interest rates, regulatory considerations, competition, technological developments, retention and recruitment of qualified personnel, changes in customer deposit behavior, and market acceptance of the Company’s pricing, products and services. The Company cautions readers not to place undue reliance on any forward-looking statements, which speak only as of the date made, and advises readers that various factors, including, but not limited to, those described above and other factors discussed in the Company’s annual and quarterly reports previously filed with the Securities and Exchange Commission, could affect the Company’s financial performance and could cause the Company’s actual results or circumstances for future periods to differ materially from those anticipated or projected. Unless required by law, the Company does not undertake, and specifically disclaims any obligations to, publicly release any revisions that may be made to any forward-looking statements to reflect the occurrence of anticipated or unanticipated events or circumstances after the date of such statements. For more information, please see our reports filed with the United States Securities and Exchange Commission (“SEC”), including our most recent annual report on Form 10-K and quarterly reports on Form 10-Q. Non-GAAP Measures In addition to presenting information in conformity with accounting principles generally accepted in the United States of America (GAAP), this news release contains financial information determined by methods other than GAAP (non-GAAP). The following measures used in this release, which are commonly utilized by financial institutions, have not been specifically exempted by the Securities and Exchange Commission ("SEC") and may constitute "non-GAAP financial measures" within the meaning of the SEC's rules. The Company has provided in this news release supplemental disclosures for the calculation of net interest margin utilizing a fully taxable-equivalent adjustment and pre-provision net income. Management believes that the non-GAAP financial measures disclosed by the Company from time to time are useful in evaluating the Company's performance and that such information should be considered as supplemental in nature and not as a substitute for or superior to the related financial information prepared in accordance with GAAP. Our non-GAAP financial measures may differ from similar measures presented by other companies. Refer to the tables on page 9 for Non-GAAP to GAAP reconciliations. The above information is preliminary and based on the Company’s data available at the time of presentation. Non-GAAP to GAAP Reconciliations The following table summarizes the adjustments made to arrive at the fully taxable-equivalent net interest margins. (1) Interest income calculated on a taxable-equivalent basis (non-GAAP) includes the additional interest income that would have been earned if the Company’s investment in tax-exempt securities and loans had been subject to federal and New York State income taxes yielding the same after-tax income. The rate used for this adjustment was 21% for federal income taxes for the three months ended September 30, 2025 and 2024, 4.44% for New York State income taxes for the three months ended September 30, 2025 and 2024. The following table summarizes the adjustments made to arrive at pre-provision net income. The above information is preliminary and based on the Company’s data available at the time of presentation. For Further Information Contact: Donald E. Gibson President & CEO (518) 943-2600 [email protected] Nick Barzee SVP & CFO (518) 943-2600 [email protected]

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