GREENE COUNTY BANCORP, INC.

Red flags

• Commercial real estate loans were $1.147 billion of $1.753 billion in gross loans, creating material sensitivity to property values, refinancing conditions, and local CRE demand.
• Deposits grew $73.6 million while loans grew $124.2 million; borrowings increased from $78.2 million to $125.2 million, including $119.0 million of FHLB overnight borrowings.
• Cash and cash equivalents declined $38.2 million to $144.9 million, while $721.4 million of mortgage loans was pledged to the FHLB for borrowings and municipal letters of credit.
• Non-accrual loans increased 27.6% to $3.9 million, including four residential loans totaling $745,000 in foreclosure, while the allowance for credit losses was $21.9 million.