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Gouverneur Bancorp, Inc. functions as the parent company for Gouverneur Savings and Loan Association, offering a full spectrum of banking products and financial services to both individual and commercial clients throughout New York State. The institution provides a diverse range of deposit accounts, including checking, passbook savings, NOW, and money market accounts, alongside certificates of deposit. Its extensive lending portfolio caters to various needs, encompassing personal loans (such as those for home improvement, automobiles, motorcycles, campers, boats, recreational vehicles, and passbook-secured loans), a variety of mortgage options (including construction loans and home equity lines of credit), as well as commercial loans for real estate, installments, short-term working capital, and equipment, along with commercial lines of credit and letters of credit. Beyond traditional banking, Gouverneur Bancorp strategically invests in general obligation municipal bonds, debt instruments issued by the U.S. government and its agencies, and mortgage-backed securities guaranteed by government-sponsored enterprises. Customers also benefit from a wide array of modern conveniences. These include digital banking platforms like online, mobile, bill pay, and telephone banking. Additional services cover ATM and debit card access, direct deposits, mobile remote deposit capture, automated payments and transfers, bank checks, wire transfers, and safe deposit box rentals. Clients can choose between electronic or paper statements. The company primarily serves St. Lawrence, Jefferson, and Lewis counties within New York State, operating through two full-service branch locations. Gouverneur Bancorp, Inc. was established in 1892 and is headquartered in Gouverneur, New York.
Gouverneur Bancorp, Inc. Announces Fiscal 2026 Third Quarter and Nine Months Results and Strategic Balance Sheet Optimization
Gouverneur Bancorp reported Q3 net income of $239,000, or $0.23 per share, up from $217,000 in the prior year, while assets held steady at $198.7 million.
Subsequent to quarter-end, the company initiated a strategic balance sheet optimization, selling $23.8 million of low-yield securities and planning to sell $20 million of lower-yielding loans.
Management expects these moves to increase net interest margin by 51 basis points and boost annual EPS by approximately $0.58 once fully redeployed into higher-yielding assets.