Earnings ·
Gouverneur Bancorp reported net income of $239,000 ($0.23 per share) for the quarter ended June 30, 2026, and $743,000…
GOVBGouverneur Bancorp, Inc.
Gouverneur Bancorp reported net income of $239,000 ($0.23 per share) for the quarter ended June 30, 2026, and $743,000 ($0.72 per share) for the nine-month period. The company announced a strategic balance sheet optimization involving the sale of approximately $23.8 million in available-for-sale securities at an estimated pre-tax loss of $2.0 million, with proceeds reinvested into higher-yielding assets and used to repay FHLBNY advances. Additionally, the company is selling approximately $20.0 million in lower-yielding loans, expected to close by September 30, 2026, at an estimated pre-tax loss of $2.0 million. Management projects these actions will increase net interest margin by 51 basis points and annual earnings per share by $0.58 over a five-year earn-back period. Gouverneur Bancorp operates as the holding company for a New York savings and loan association providing deposit and loan services.