2024 Q2 Form 10-Q Financial Statement

#000114036124025343 Filed on May 10, 2024

View on sec.gov

Income Statement

Concept 2024 Q2 2024 Q1
Revenue $26.07M
YoY Change 18.87%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin
YoY Change
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $243.0K $245.0K
YoY Change 8.48% 12.39%
% of Gross Profit
Operating Expenses
YoY Change
Operating Profit
YoY Change
Interest Expense $13.78M
YoY Change 105.4%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income $6.830M $6.183M
YoY Change -5.1% -34.03%
Income Tax $98.00K $322.0K
% Of Pretax Income 1.43% 5.21%
Net Earnings $6.732M $5.861M
YoY Change 4.21% -27.56%
Net Earnings / Revenue 22.48%
Basic Earnings Per Share $0.34
Diluted Earnings Per Share $0.40 $0.34
COMMON SHARES
Basic Shares Outstanding 17.03M 17.03M
Diluted Shares Outstanding 17.03M

Balance Sheet

Concept 2024 Q2 2024 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments
YoY Change
Cash & Equivalents $190.4M $255.8M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets
YoY Change
LONG-TERM ASSETS
Property, Plant & Equipment $15.61M $15.65M
YoY Change 3.85% 7.7%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets
YoY Change
TOTAL ASSETS
Total Short-Term Assets
Total Long-Term Assets
Total Assets $2.826B $2.872B
YoY Change 4.73% 5.22%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable
YoY Change
Accrued Expenses $31.43M $29.43M
YoY Change 10.88% 2.71%
Deferred Revenue
YoY Change
Short-Term Debt
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $31.43M $29.43M
YoY Change 10.88% 2.71%
LONG-TERM LIABILITIES
Long-Term Debt $49.68M $49.64M
YoY Change 0.38% 0.38%
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $49.68M $49.64M
YoY Change 0.38% 0.38%
TOTAL LIABILITIES
Total Short-Term Liabilities $31.43M $29.43M
Total Long-Term Liabilities $49.68M $49.64M
Total Liabilities $2.620B $2.672B
YoY Change 4.17% 4.78%
SHAREHOLDERS EQUITY
Retained Earnings $214.7M $208.6M
YoY Change 10.85% 11.09%
Common Stock $1.722M $1.722M
YoY Change 0.0% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $206.0M $199.2M
YoY Change
Total Liabilities & Shareholders Equity $2.826B $2.872B
YoY Change 4.73% 5.22%

Cashflow Statement

Concept 2024 Q2 2024 Q1
OPERATING ACTIVITIES
Net Income $6.732M $5.861M
YoY Change 4.21% -27.56%
Depreciation, Depletion And Amortization $243.0K $245.0K
YoY Change 8.48% 12.39%
Cash From Operating Activities $11.06M $5.585M
YoY Change 6.57% -27.34%
INVESTING ACTIVITIES
Capital Expenditures $198.0K $664.0K
YoY Change -72.5% 121.33%
Acquisitions
YoY Change
Other Investing Activities -$21.08M -$53.61M
YoY Change -147.73% -572.79%
Cash From Investing Activities -$21.28M -$54.27M
YoY Change -148.98% -591.66%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -55.21M 128.4M
YoY Change 54.61% 30.01%
NET CHANGE
Cash From Operating Activities 11.06M 5.585M
Cash From Investing Activities -21.28M -54.27M
Cash From Financing Activities -55.21M 128.4M
Net Change In Cash -65.43M 79.74M
YoY Change -461.02% -32.14%
FREE CASH FLOW
Cash From Operating Activities $11.06M $5.585M
Capital Expenditures $198.0K $664.0K
Free Cash Flow $10.87M $4.921M
YoY Change 12.46% -33.37%

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DebtSecuritiesAvailableForSaleRealizedGainLoss
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us-gaap Information Technology And Data Processing
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us-gaap Information Technology And Data Processing
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ComputerSoftwareSuppliesAndSupport
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AdvertisingExpense
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us-gaap Advertising Expense
AdvertisingExpense
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us-gaap Advertising Expense
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us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Sale Of Securities Before Tax
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CY2023Q1 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Sale Of Securities Tax
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us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Sale Of Securities Tax
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us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Sale Of Securities Tax
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CY2023Q1 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Sale Of Securities Net Of Tax
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us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Sale Of Securities Net Of Tax
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us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Sale Of Securities Net Of Tax
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27442000
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670000
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CY2024Q1 us-gaap Held To Maturity Securities
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CY2024Q1 us-gaap Debt Securities Held To Maturity Allowance For Credit Loss
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DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12MonthsAccumulatedLoss
318000
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CY2024Q1 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLonger
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CY2024Q1 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer Number Of Positions
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27442000
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DebtSecuritiesHeldToMaturityContinuousUnrealizedLossPositionsLessThan12MonthsFairValue
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CY2024Q1 gcbc Debt Securities Held To Maturity Continuous Unrealized Loss Positions Less Than12 Months Accumulated Loss
DebtSecuritiesHeldToMaturityContinuousUnrealizedLossPositionsLessThan12MonthsAccumulatedLoss
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CY2024Q1 gcbc Held To Maturity Securities In Unrealized Loss Positions Qualitative Disclosure Number Of Positions Less Than One Year
HeldToMaturitySecuritiesInUnrealizedLossPositionsQualitativeDisclosureNumberOfPositionsLessThanOneYear
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CY2024Q1 gcbc Debt Securities Held To Maturity Continuous Unrealized Loss Positions12 Months Or Longer Fair Value
DebtSecuritiesHeldToMaturityContinuousUnrealizedLossPositions12MonthsOrLongerFairValue
505449000
CY2024Q1 gcbc Debt Securities Held To Maturity Continuous Unrealized Loss Positions12 Months Or Longer Accumulated Loss
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CY2024Q1 gcbc Held To Maturity Securities In Unrealized Loss Positions Qualitative Disclosure Number Of Positions Greater Than Or Equal To One Year
HeldToMaturitySecuritiesInUnrealizedLossPositionsQualitativeDisclosureNumberOfPositionsGreaterThanOrEqualToOneYear
2270
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DebtSecuritiesHeldToMaturityUnrealizedLossPositionsFairValue
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59903000
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2402
CY2024Q1 gcbc Securities Continuous Unrealized Loss Position Less Than Twelve Months Fair Value
SecuritiesContinuousUnrealizedLossPositionLessThanTwelveMonthsFairValue
42900000
CY2024Q1 gcbc Number Of Securities Unrealized Loss Position Less Than Twelve Months
NumberOfSecuritiesUnrealizedLossPositionLessThanTwelveMonths
137
CY2024Q1 gcbc Securities Continuous Unrealized Loss Position Twelve Months Or Longer Fair Value
SecuritiesContinuousUnrealizedLossPositionTwelveMonthsOrLongerFairValue
644844000
CY2024Q1 gcbc Securities Continuous Unrealized Loss Position12 Months Or Longer Accumulated Loss
SecuritiesContinuousUnrealizedLossPosition12MonthsOrLongerAccumulatedLoss
86981000
CY2024Q1 gcbc Number Of Securities Unrealized Loss Position Twelve Months Or Longer
NumberOfSecuritiesUnrealizedLossPositionTwelveMonthsOrLonger
2355
CY2024Q1 gcbc Securities Continuous Unrealized Loss Positions Fair Value
SecuritiesContinuousUnrealizedLossPositionsFairValue
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CY2024Q1 gcbc Securities Continuous Unrealized Loss Positions Accumulated Loss
SecuritiesContinuousUnrealizedLossPositionsAccumulatedLoss
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CY2023Q2 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12Months
6268000
CY2023Q2 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months Accumulated Loss
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12MonthsAccumulatedLoss
308000
CY2023Q2 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months Number Of Positions
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CY2023Q2 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLonger
136936000
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CY2023Q2 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer Number Of Positions
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLongerNumberOfPositions
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CY2023Q2 us-gaap Debt Securities Available For Sale Unrealized Loss Position
DebtSecuritiesAvailableForSaleUnrealizedLossPosition
143204000
CY2023Q2 us-gaap Debt Securities Available For Sale Unrealized Loss Position Accumulated Loss
DebtSecuritiesAvailableForSaleUnrealizedLossPositionAccumulatedLoss
28690000
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DebtSecuritiesAvailableForSaleUnrealizedLossPositionNumberOfPositions
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CY2023Q2 gcbc Debt Securities Held To Maturity Continuous Unrealized Loss Positions Less Than12 Months Fair Value
DebtSecuritiesHeldToMaturityContinuousUnrealizedLossPositionsLessThan12MonthsFairValue
57992000
CY2023Q2 gcbc Debt Securities Held To Maturity Continuous Unrealized Loss Positions Less Than12 Months Accumulated Loss
DebtSecuritiesHeldToMaturityContinuousUnrealizedLossPositionsLessThan12MonthsAccumulatedLoss
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CY2023Q2 gcbc Held To Maturity Securities In Unrealized Loss Positions Qualitative Disclosure Number Of Positions Less Than One Year
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CY2023Q2 gcbc Debt Securities Held To Maturity Continuous Unrealized Loss Positions12 Months Or Longer Fair Value
DebtSecuritiesHeldToMaturityContinuousUnrealizedLossPositions12MonthsOrLongerFairValue
495655000
CY2023Q2 gcbc Debt Securities Held To Maturity Continuous Unrealized Loss Positions12 Months Or Longer Accumulated Loss
DebtSecuritiesHeldToMaturityContinuousUnrealizedLossPositions12MonthsOrLongerAccumulatedLoss
57578000
CY2023Q2 gcbc Held To Maturity Securities In Unrealized Loss Positions Qualitative Disclosure Number Of Positions Greater Than Or Equal To One Year
HeldToMaturitySecuritiesInUnrealizedLossPositionsQualitativeDisclosureNumberOfPositionsGreaterThanOrEqualToOneYear
2108
CY2023Q2 gcbc Debt Securities Held To Maturity Unrealized Loss Positions Fair Value
DebtSecuritiesHeldToMaturityUnrealizedLossPositionsFairValue
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CY2023Q2 us-gaap Held To Maturity Securities Accumulated Unrecognized Holding Loss
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CY2023Q2 gcbc Securities Continuous Unrealized Loss Position Less Than Twelve Months Fair Value
SecuritiesContinuousUnrealizedLossPositionLessThanTwelveMonthsFairValue
64260000
CY2023Q2 gcbc Securities Continuous Unrealized Loss Position Accumulated Loss
SecuritiesContinuousUnrealizedLossPositionAccumulatedLoss
3205000
CY2023Q2 gcbc Number Of Securities Unrealized Loss Position Less Than Twelve Months
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483
CY2023Q2 gcbc Securities Continuous Unrealized Loss Position Twelve Months Or Longer Fair Value
SecuritiesContinuousUnrealizedLossPositionTwelveMonthsOrLongerFairValue
632591000
CY2023Q2 gcbc Securities Continuous Unrealized Loss Position12 Months Or Longer Accumulated Loss
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85960000
CY2023Q2 gcbc Number Of Securities Unrealized Loss Position Twelve Months Or Longer
NumberOfSecuritiesUnrealizedLossPositionTwelveMonthsOrLonger
2186
CY2023Q2 gcbc Securities Continuous Unrealized Loss Positions Fair Value
SecuritiesContinuousUnrealizedLossPositionsFairValue
696851000
CY2023Q2 gcbc Securities Continuous Unrealized Loss Positions Accumulated Loss
SecuritiesContinuousUnrealizedLossPositionsAccumulatedLoss
89165000
CY2023Q2 gcbc Number Of Securities Unrealized Loss Position
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CY2024Q1 gcbc Available For Sale Securities Transfers To Held To Maturity
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CY2023Q1 gcbc Available For Sale Securities Transfers To Held To Maturity
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gcbc Available For Sale Securities Transfers To Held To Maturity
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gcbc Available For Sale Securities Transfers To Held To Maturity
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CY2024Q1 us-gaap Proceeds From Sale Of Available For Sale Securities Debt
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us-gaap Proceeds From Sale Of Available For Sale Securities Debt
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us-gaap Debt Securities Available For Sale Realized Gain Loss
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8910000
CY2024Q1 us-gaap Available For Sale Securities Debt Maturities After Five Through Ten Years Fair Value
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CY2024Q1 us-gaap Available For Sale Securities Debt Maturities After Ten Years Amortized Cost
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CY2024Q1 us-gaap Available For Sale Securities Debt Maturities After Ten Years Fair Value
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CY2024Q1 us-gaap Available For Sale Securities Debt Maturities Single Maturity Date
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123969000
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CY2024Q1 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
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CY2024Q1 us-gaap Held To Maturity Securities Debt Maturities After Five Through Ten Years Fair Value
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135162000
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521688000
CY2024Q1 us-gaap Held To Maturity Securities Debt Maturities Single Maturity Date Fair Value
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489623000
CY2024Q1 us-gaap Held To Maturity Securities Debt Maturities Without Single Maturity Date Net Carrying Amount
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179181000
CY2024Q1 us-gaap Held To Maturity Securities Debt Maturities Without Single Maturity Date Fair Value
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157881000
CY2024Q1 us-gaap Held To Maturity Securities
HeldToMaturitySecurities
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CY2024Q1 us-gaap Held To Maturity Securities Fair Value
HeldToMaturitySecuritiesFairValue
647504000
CY2024Q1 us-gaap Debt Securities Available For Sale And Held To Maturity Amortized Cost Before Allowance For Credit Loss
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dei Document Fiscal Period Focus
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CY2023Q2 us-gaap Operating Lease Liability Statement Of Financial Position Extensible List
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CY2024Q1 us-gaap Operating Lease Liability Statement Of Financial Position Extensible List
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GREENE COUNTY BANCORP, INC.
dei Entity Incorporation State Country Code
EntityIncorporationStateCountryCode
X1
dei Local Phone Number
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943-2600
dei Security12b Title
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Common Stock, $0.10 par value
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NASDAQ
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<div><span style="font-size: 10pt;"><span style="font-style: italic;"> </span></span></div> <div style="text-align: justify; font-style: italic; background-color: rgb(255, 255, 255); font-weight: normal; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-variant: normal; text-transform: none;">Use of Estimates</div> <div style="display:none;"><br/></div> <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; text-align: left; text-indent: 0px; text-transform: none; word-spacing: 0px; white-space: normal; background-color: rgb(255, 255, 255); text-decoration-style: initial; text-decoration-color: initial;"><span style="font-size: 10pt;"><br/> </span> </div> <div style="display:none;"><br/></div> <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; text-indent: 0px; text-transform: none; word-spacing: 0px; white-space: normal; background-color: rgb(255, 255, 255); text-decoration-style: initial; text-decoration-color: initial; text-align: justify;">The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period.  Actual results could materially differ from those estimates.  Material estimates that are particularly susceptible to significant change in the near term relate to the determination of the allowance for credit losses on loans and on unfunded commitments.</div>
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0.0301
CY2024Q1 us-gaap Fair Value Disclosure Offbalance Sheet Risks Amount Liability
FairValueDisclosureOffbalanceSheetRisksAmountLiability
203383000
CY2023Q2 us-gaap Fair Value Disclosure Offbalance Sheet Risks Amount Liability
FairValueDisclosureOffbalanceSheetRisksAmountLiability
219575000
CY2024Q1 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
CY2024Q1 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false
CY2024Q1 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false
CY2024Q1 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false

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0001140361-24-025343-index.html Edgar Link pending
0001140361-24-025343.txt Edgar Link pending
0001140361-24-025343-xbrl.zip Edgar Link pending
ef20026323_10q.htm Edgar Link pending
ef20026323_ex31-1.htm Edgar Link pending
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Financial_Report.xlsx Edgar Link pending
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ef20026323_10q_htm.xml Edgar Link completed
gcbc-20240331_def.xml Edgar Link unprocessable
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gcbc-20240331_pre.xml Edgar Link unprocessable