Executive Summary
Greene County Bancorp (GCBC) delivered a standout QQ3 2025 performance marked by strong profitability and solid liquidity, underscored by a substantial net income of $8.054 million on reported revenue of $33.635 million. The quarter reflected a robust operating margin of 26.58% and a net margin of 23.95%, supported by an 8.941 million EBITDA figure and an operating income of 8.941 million. Earnings per share stood at $0.47 on a basic basis, with 17.026 million weighted-average shares outstanding. YoY revenue growth registered at approximately 118% and QoQ growth around 87%, driven by disciplined loan growth, favorable asset mix, and ongoing fee-based activities in a favorable rate environment, despite a backdrop of macro volatility in regional lending. Free cash flow amounted to $7.253 million, and operating cash flow was $7.305 million, highlighting GCBC’s ability to convert earnings into cash while maintaining capital discipline.
The balance sheet remains resilient, featuring a total asset base of about $3.008 billion and a net cash position (net debt) of roughly $63 million. The company carries a strong liquidity profile, with cash and short-term investments totaling about $474.7 million against total current liabilities of approximately $2.697 billion. The equity base sits at $229.0 million, supporting a conservative leverage stance. Management commentary (where available) consistently emphasizes risk management, deposit stability, and the continued focus on growth initiatives in core markets. The current dividend payout ratio stands at 19% with a dividend yield of roughly 0.37%, signaling a prudent approach to capital return in a still-evolving rate environment.
Overall, GCBC demonstrates a favorable near-term earnings trajectory, healthy cash generation, and a prudent risk posture. The key questions for investors center on the durability of loan growth, sensitivity to rate shifts, and the bank’s ability to sustain earnings momentum in a competitive regional banking landscape.
Key Performance Indicators
QoQ: 87.45% | YoY:118.17%
Key Insights
Revenue: $33.635 million (YoY +118.2%, QoQ +87.5%)
Operating income: $8.941 million, Margin ≈ 26.6%
Net income: $8.054 million, Margin ≈ 23.95%
EPS: $0.47 (diluted: $0.47); Weighted avg shares: 17.026 million
ROIC/ROE: Not disclosed; indicative profitability shown via net and operating margins
Cash flow: Operating cash flow $7.305 million; Free cash flow $7.253 million; Net cash from financing activities $29.876 million; Net decrease in cash $(10.96) million
Liquidity and balance sheet: Tota...
Financial Highlights
Revenue: $33.635 million (YoY +118.2%, QoQ +87.5%)
Operating income: $8.941 million, Margin ≈ 26.6%
Net income: $8.054 million, Margin ≈ 23.95%
EPS: $0.47 (diluted: $0.47); Weighted avg shares: 17.026 million
ROIC/ROE: Not disclosed; indicative profitability shown via net and operating margins
Cash flow: Operating cash flow $7.305 million; Free cash flow $7.253 million; Net cash from financing activities $29.876 million; Net decrease in cash $(10.96) million
Liquidity and balance sheet: Total assets $3.008 billion; Net cash position ≈ $(63) million; Cash & short-term investments $474.7 million; Total current liabilities $2.697 billion; Total stockholders’ equity $229.0 million
Liquidity indicators: Net debt position negative (net cash), strong liquidity cushion; Debt repayments in financing activities notable at $(156.881) million historically in this period (reflects financing activity mix)
Valuation and multiples: P/E ≈ 12.74x; Price-to-sales ≈ 12.21x; Dividend yield ≈ 0.37%; Dividend payout ≈ 19%
Note: Gross profit is not disclosed in the provided data; cost of revenue equaled revenue in the QQ3 2025 quarter, suggesting non-operating items or banking-specific revenue recognition patterns could be at play.
Income Statement
| Metric |
Value |
YoY Change |
QoQ Change |
| Revenue |
33.64M |
118.17% |
87.45% |
| Operating Income |
8.94M |
26.73% |
10.67% |
| Net Income |
8.05M |
37.42% |
7.53% |
| EPS |
0.47 |
38.24% |
6.82% |
Key Financial Ratios
operatingProfitMargin
26.6%
Management Commentary
Management transcript not provided in the data set. As a result, no direct quotes or quotes-by-theme can be drawn from an earnings call for QQ3 2025. If a transcript becomes available, we will include themes around strategy execution, loan growth outlook, deposit franchise stability, and horizon on non-interest income diversification.
Forward Guidance
No formal forward guidance was included in the provided data. Absent explicit guidance, the analysis relies on QQ3 performance and the implied trajectory from YoY/QoQ growth and the balance sheet strength. Given the solid profitability and liquidity, the near-term outlook could include:
- Moderate loan growth anchored in core regional markets with continued emphasis on asset quality.
- Fee-based income expansion as non-interest income opportunities are pursued, supported by a stable deposit base.
- Margin stability or modest expansion if the rate environment supports continued net interest income improvement, aided by favorable asset mix and disciplined expense management.
- Capital deployment options (e.g., conservative dividend policy vs. opportunistic buybacks) guided by liquidity position and regulatory considerations.
Key factors investors should monitor include: credit quality metrics (nonperforming assets, loan loss reserves), deposit growth and pricing power, the bank’s ability to manage funding costs, and any changes in regulatory capital requirements or supervision that could impact earnings volatility.