GREENE COUNTY BANCORP INC Redeems $10M Subordinated Notes

What Happened GREENE COUNTY BANCORP INC (GCBC) filed an 8-K on September 15, 2026 announcing it redeemed $10.0 million in aggregate principal of its outstanding 3.00% Fixed-to-Floating Rate Subordinated Notes due September 15, 2031. The redemption price was 100% of principal plus accrued and unpaid interest to, but excluding, September 15, 2026. After the redemption, $20.0 million of those Notes remain outstanding. The company funded the redemption with cash on hand.

Key Details

• Redemption amount: $10.0 million principal redeemed.
• Remaining outstanding: $20.0 million principal of the Notes remains.
• Terms: 3.00% Fixed-to-Floating Rate Subordinated Notes due September 15, 2031; redemption paid at 100% of principal plus accrued interest to (but excluding) Sept 15, 2026.
• Funding source: Redemption funded with cash on hand. Filing date: September 15, 2026.

Why It Matters This 8-K reports a debt repayment action that reduces GCBC’s subordinated debt by $10.0M and leaves $20.0M outstanding. Paying the notes with cash on hand avoids new borrowing, which can affect the company’s liquidity and capital structure. Because these are subordinated notes (junior debt), the change is relevant to investors assessing GCBC’s leverage and long-term funding profile.