Gouverneur Bancorp Inc (GOVB) is a New York-based savings bank holding company that operates through its principal subsidiary, Gouverneur Savings and Loan (the Bank), originating residential and commercial real estate loans. Revenue comes primarily from interest on loans and, to a lesser extent, interest on investment securities and mortgage-backed securities, supplemented by deposit fees and service charges, and gains on sales of loans and securities. The Bank completed its second-step mutual-to-stock conversion on October 31, 2023, transitioning to full public ownership. It operates a limited-purpose wholly owned subsidiary, GS&L Municipal Bank, chartered in September 2022 under New York law to serve municipal depositors. The Bank is regulated by the New York State Department of Financial Services and the FDIC, with the holding company subject to Federal Reserve Board supervision. As of September 30, 2025, the securities portfolio included municipal bonds, treasuries, agency securities, residential mortgage-backed securities, and SBA-guaranteed debentures with an aggregate amortized cost of approximately $41.8 million. CEO is Stephen M. Jefferies.

Revenue model

Interest income on loans (primarily one- to four-family residential mortgage loans, with smaller contributions from commercial real estate, construction, home equity, commercial, and consumer loans) is the primary revenue source. Secondary revenue comes from interest on investment securities and mortgage-backed securities. Fee income includes deposit service charges, gains on loan sales, gains on securities sales, and gains on sales of other real estate owned.

Products and services

One- to four-family residential real estate mortgage loans; commercial real estate loans; construction and land loans; home equity loans and lines of credit; commercial and industrial loans; consumer loans (automobile, passbook, other). Retail deposit products including transaction accounts and certificates of deposit. Municipal banking services through GS&L Municipal Bank subsidiary. Securities portfolio including municipal bonds, treasuries, agency securities, residential mortgage-backed securities, and SBA-guaranteed debentures (as of September 30, 2025).

Customers and end markets

General public and retail depositors in the market areas surrounding the Bank's main office and branch offices in New York. Residential borrowers seeking one- to four-family mortgage loans. Commercial real estate borrowers and developers. Municipal entities served through GS&L Municipal Bank. Consumer borrowers.

Value-chain role

Community savings bank and holding company. Accepts retail deposits as primary funding source, deploys capital into residential and commercial loans, and invests in securities. Also uses Federal Home Loan Bank advances and other borrowings as supplemental funding. Loan originator and portfolio lender.

Geographic exposure

New York State. Operations concentrated around the main office and branch offices in the market areas served by Gouverneur Savings and Loan, as described in the 10-K filed December 19, 2025.

Source: SEC 10-K, filed 2025-12-19

Industry: Savings Institutions, Not Federally Chartered Peers: Truist Financial Corp FIRST REPUBLIC BANK Patriot National Bancorp Inc