Recent Updates — GOVB

Gouverneur Bancorp reported a fourth-quarter net loss of $3.1 million, or $2.97 per share, compared to net income of $238,000 in the prior-year period. The full fiscal year ended September 30, 2026, resulted in a net loss of $2.3 million, or $2.25 per share, versus $733,000 previously. Reported results were heavily impacted by approximately $4.0 million in pretax losses from the sale of investment securities and loan participations as part of a strategic balance sheet restructuring. Adjusted net income for the quarter was $241,000, or $0.23 per share, while full-year adjusted net income was $984,000, or $0.95 per share. The company also noted strong loan origination volume and a decrease in total assets to $191.7 million. Gouverneur Bancorp is the holding company for a New York savings and loan association offering deposit and loan services.

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.