0001104659-26-013949
SEC filingGouverneur 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.
Gouverneur Bancorp, Inc. reported net income of $287K for the quarter ended December 31, 2025, in its 10-Q filing dated February 12, 2026. Net interest income stood at $1.8M after $411K interest expense and $13K net provision for credit losses. Non-interest income netted $345K, including $103K gain on life insurance death benefit and $48K earnings on bank-owned life insurance. Non-interest expenses were $1.9M, dominated by $899K salaries and employee benefits. Total assets reached $201.9M, with shareholders' equity at $32.6M. Compared to September 30, 2025, loans net remained $133.1M (allowance $1,112K vs $1,100K prior), deposits totaled $158.5M, and ESOP unallocated shares decreased from 50,133 to 46,277. Cash equivalents ended at $4.7M after $50K net increase. EPS basic and diluted were $0.
Interest income totaled $2.2M, with $1.8M from loans net, $262K from taxable securities, $132K from non-taxable securities, and $21K from other short-term investments. Net interest income was $1.8M after $411K expense ($348K deposits, $63K borrowings, offset by $10K net swap income). Non-interest income of $345K included $93K service charges, offset by -$65K ATM fees, plus $103K life insurance gain, $48K life insurance earnings, $23K deferred fees plan earnings, -$9K unrealized swap loss, $12K secondary market earnings, and $1K other. No segment breakdowns or geographic mix disclosed.
Income before tax was $307K after $1.8M net interest income post-provision plus $345K non-interest income minus $1.9M expenses. Income tax expense was $20K, yielding $287K net income. Key expenses: salaries $899K, directors fees $94K, building/occupancy $242K, data processing $105K, professional fees $150K, intangibles amortization $81K, offset by -$18K foreclosed assets net. No gross or operating margins explicitly stated. Cost control evident in modest provision ($14K loans, -$1K unfunded).
Operating cash flow was $459K, starting from $287K net income, adjusted by $566K life insurance proceeds (-$103K gain), $453K decrease in receivables/other assets, $110K securities amortization, and $81K intangible amortization. Investing used $3.0M: $5.0M securities purchases, $1.7M net loan increase, -$87K FHLB redemptions, offset by $3.6M securities proceeds. Financing provided $2.6M: $3.7M deposit increase, $7.2M stock proceeds, -$2.0M borrowings change, $992K advance payments, -$94K dividends, -$60K stock repurchase. Balance sheet: assets $201.9M (loans $133.1M, securities AFS $42.8M, cash $4.7M), liabilities $169.3M (deposits $158.5M, FHLB advances $5.0M), equity $32.6M (retained earnings $29.2M).
No management guidance, strategic priorities, or risk factors explicitly disclosed in the provided filing content.