Gouverneur Bancorp, Inc.

Gouverneur Bancorp, Inc. (GOVB) reported Q1 2026 results for the period ending December 31, 2025, with total assets of $201.9M, up from prior quarter implied by loan allowance changes. Net income was $287K, driven by net interest income of $1.8M from $2.2M interest income (loans $1.8M, securities $394K) offset by $411K interest expense. Non-interest income contributed $345K, boosted by $103K gain on life insurance death benefit and $48K earnings on bank-owned life insurance, despite ATM fees loss of $65K. Non-interest expenses totaled $1.9M, led by $899K salaries and benefits. Provision for credit losses was $13K net. Balance sheet showed deposits growth to $158.5M (non-interest bearing $17.7M, NOW/money market $52.0M), loans net $133.1M, and equity $32.6M. Cash flow from operations was $459K, investing used $3.0M mainly on $5.0M securities purchases and $1.7M loan growth, financing provided $2.6M including $7.2M stock proceeds and $3.7M deposits, netting $50K cash increase to $4.7M. EPS basic and diluted were $0. QoQ, deposits increased $3.7M, ESOP unallocated shares declined from 50,133 to 46,277, signaling steady community bank operations with liquidity focus.

Key Takeaways