Greene County Bancorp's Q2 profit rises on higher interest margin

Reuters01-21 22:27

Greene County Bancorp's <a href="https://laohu8.com/S/QTWO">Q2</a> profit rises on higher interest margin

Overview

New York community bank's fiscal Q2 net income rose 37.4% yr/yr
Company's total assets reached a record $3.1 bln
Net interest income for fiscal Q2 grew 35.4% yr/yr

Result Drivers

BALANCE SHEET MANAGEMENT - Co focused on higher-yielding loans and securities, and lowered deposit rates, boosting net interest margin
NEW OFFICE LAUNCH - Co opened its first office in Saratoga County, aligning with strategy for growth in high-potential markets
RECORD NET INCOME - Co achieved record net income driven by increased net interest income and strategic capital deployment

Key Details

Metric	Beat/Miss	Actual	Consensus Estimate
Q2 EPS		$0.60
Q2 Net Income		$10.29 mln
Q2 Net Interest Income		$19.06 mln
Q2 Loan Loss Provision		$199,000

Press Release: ID:nGNX3lcMrz

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact RefinitivNewsSupport@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

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