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Date : April 23 , 2021 Greene County Bancorp Inc. FOR RELEASE Exhibit 99.1 For Further Information Contact : Donald E. Gibson President & CEO ( 518 ) 943-2600 donaldg@tbogc.com Michelle M. Plummer , CPA , CGMA EVP , COO & CFO ( 518 ) 943-2600 michellep@tbogc.com Greene County Bancorp , Inc. Reports Record High Net Income for the Nine Months Ended March 31 , 2021 and Assets Cross the $ 2 Billion Threshold Catskill , N.Y. - April 23 , 2021-- Greene County Bancorp , Inc. ( the “ Company ” ) ( NASDAQ : GCBC ) , the holding company for The Bank of Greene County and its subsidiary Greene County Commercial Bank , today reported net income for the three and nine months ended March 31 , 2021 , which is the third quarter of the Company's fiscal year ending June 30 , 2021. Net income for the three and nine months ended March 31 , 2021 was $ 5.3 million , or $ 0.62 per basic and diluted share , and $ 16.3 million , or $ 1.92 per basic and diluted share , respectively , as compared to $ 4.1 million , or $ 0.47 per basic and diluted share , and $ 14.0 million , or $ 1.64 per basic and diluted share , for the three and nine months ended March 31 , 2020 , respectively . Highlights : Net Income : New high for the nine months ended March 31 , 2021 • Total assets : Tops $ 2.0 billion for first time • Return on Average Assets : Continues strong at 1.17 % for the nine months ended March 31 , 2021 • Return on Average Equity : Continues strong at 16.12 % for the nine months ended March 31 , 2021 Donald Gibson , President & CEO stated : “ I am pleased to report our team performed well which resulted in another very solid quarter . Net income increased by over 29 % when comparing the quarters ended March 31 , 2021 and March 31 , 2020 . During the quarter , we also continued to build on the deposit growth momentum that we realized over the last several quarters . As a result , I am proud to announce that we have crossed the $ 2 billion asset threshold at March 31 , 2021 , a new milestone . " Total consolidated assets for the Company were $ 2.1 billion at March 31 , 2021 , primarily consisting of $ 848.3 million of total securities available - for - sale and held - to - maturity and $ 1.1 billion of net loans . Consolidated deposits totaled $ 2.0 billion at March 31 , 2021 , consisting of retail , business and municipal banking relationships . The Bank of Greene County operates 17 full- service banking offices , with operations and lending centers located in the Capital District and Hudson Valley Regions of New York State . The Company continues to closely monitor the impact of the coronavirus pandemic ( " COVID - 19 " ) on our business and results of operations . The Company recognizes and appreciates the staff who continue to assist retail customers , municipalities and businesses in the communities in which we operate as the country and world continue to work through the pandemic . The Company continues to maintain strong asset quality , capital and liquidity during the crisis . Management believes it is still well positioned to withstand the continued financial impact from this health crisis as it stands by and works hand in hand with local businesses to be stronger than ever . Depending upon the duration of the COVID - 19 pandemic and the adequacy of strategies put in place by local and federal governments , borrowers may not have the ability to repay their debts which may ultimately result in losses to the Company . Management continues to closely monitor credit relationships , particularly those on payment deferral or adversely classified . As discussed under Asset Quality and Loan Loss Provision below , the Company has maintained its allowance for loan losses during the three months ended and increased it during the nine months ended March 31 , 2021 and believes that total reserves are adequate .