FOR RELEASE

Date: January 21, 2026

For Further Information Contact:

Donald E. Gibson

President & CEO

(518) 943-2600

Nick Barzee

SVP & CFO

(518) 943-2600

Greene County Bancorp, Inc. Delivers Net Income of $10.3 Million for the Quarter Ended

December 31, 2025, the Highest Quarterly Earnings in the Bank’s 137-Year History

Donald Gibson, President & CEO stated: “This quarter represents a defining milestone for our organization, achieving the highest earnings in our 137-year history while successfully launching our first Saratoga County office, on time and under budget. This demonstrates the strength of our strategy, the discipline of our execution and the dedication of our entire team. Our expansion positions us in a high-growth market and aligns with our strategy of disciplined capital deployment to enhance long-term shareholder value.”

Mr. Gibson added: “The Company continues to see strong momentum across its core business lines, supported by conservative risk management and a focus on operating fundamentals. Our performance underscores our long-standing commitment to building shareholder value while serving the financial needs of our communities. We are proud of our legacy and even more excited about the opportunities ahead.”

Greene County Bancorp, Inc. was recognized as a top-performing bank in Piper Sandler’s Class of 2025 Bank & Thrift Small-Cap All Stars, an honor recognizing top-performing banks in the small cap segment. The Company ranked 9th out of 24 recognized banks and thrifts and has been included on the list a total of nine times since its inception in 2004, which is more than any other bank in the 2025 class.

Total consolidated assets for the Company were $3.1 billion at December 31, 2025, primarily consisting of $1.7 billion of net loans and $1.2 billion of total securities available-for-sale and held-to-maturity. Consolidated deposits totaled $2.6 billion at December 31, 2025, consisting of retail, business, municipal and private banking relationships.

Pre-provision net income was $20.6 million for the six months ended December 31, 2025 as compared to $14.9 million for the six months ended December 31, 2024, an increase of $5.7 million, or 38.7%. Pre-provision net income measures the Company’s net income not including 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 and six months ended December 31, 2025 as compared to the three and six months ended December 31, 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 and six months ended December 31, 2025, are as follows:

Average loan balances increased $162.6 million and $160.2 million and the yield on loans increased 21 and 19 basis points when comparing the three and six months ended December 31, 2025 and 2024, respectively. The average balance of securities increased $107.4 million and $97.6 million and the yield on such securities increased 27 and 26 basis points when comparing the three and six months ended December 31, 2025 and 2024, respectively. Average interest-bearing bank balances and federal funds decreased $29.9 million and $18.4 million and the yield on interest-bearing bank balances and federal funds decreased 56 and 72 basis points when comparing the three and six months ended December 31, 2025 and 2024, respectively.

The cost of NOW deposits decreased 41 basis points for both the three and six months ended December 31, 2025 and 2024, respectively, and the cost of certificates of deposit decreased 63 and 74 basis points when comparing the three and six months ended December 31, 2025 and 2024, respectively. The growth in interest-bearing liabilities was primarily due to an increase in average NOW deposits of $202.3 million and $196.0 million and an increase in average certificates of deposits of $39.3 million and $50.5 million when comparing the three and six months ended December 31, 2025 and 2024, respectively. This was partially offset by a decrease in average savings and money market deposits of $16.4 million and $16.1 million, and a decrease in borrowings of $5.2 million and $8.8 million when comparing the three and six months ended December 31, 2025 and 2024. Yields on interest-earning assets increased and costs of interest-bearing deposits decreased when comparing the three and six months ended December 31, 2025 and 2024, as the Company continued to reprice assets into the higher interest rate environment, and continued a strategic reduction in deposit rates that aligns with the Federal Reserve’s rate cuts.

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.

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.

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.

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Greene County Bancorp, Inc.

Consolidated Statements of Income, and Selected Financial Ratios (Unaudited)

⁽¹⁾ Ratios are annualized when necessary.

⁽²⁾ 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.

⁽³⁾ The efficiency ratio has been calculated as noninterest expense divided by the sum of net interest income and noninterest income.

⁽⁴⁾ The dividend payout ratio has been calculated based on the dividends declared per share divided by basic earnings per share. No adjustments have been made to account for dividends waived by Greene County Bancorp, MHC (“MHC”), the Company’s majority shareholder, owning 54.1% of the shares outstanding.

⁽⁵⁾ Dividends declared divided by net income. The MHC waived its right to receive dividends declared during the three months ended March 31, 2024, June 30, 2024, March 31, 2025, June 30, 2025, September 30, 2025, and December 31, 2025. Dividends declared during the three months ended September 30, 2024, and December 31, 2024, were paid to the MHC.

Greene County Bancorp, Inc.

Consolidated Statements of Financial Condition (Unaudited)

The above information is preliminary and based on the Company’s data available at the time of presentation.

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 and six months ended December 31, 2025 and 2024, 4.44% for New York State income taxes for the three and six months ended December 31, 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.

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