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Date : October 22 , 2021 EXHIBIT 99.1 Greene County Bancorp Inc. FOR RELEASE For Further Information Contact : Donald E. Gibson President & CEO ( 518 ) 943-2600 donaldg@tbogc.com Michelle M. Plummer , CPA , CGMA SEVP , COO & CFO ( 518 ) 943-2600 michellep@tbogc.com Greene County Bancorp , Inc. Reports 45 % Increase in Net Income for the Quarter Ended September 30 , 2021 , and is Selected for the Piper Sandler Sm - All Stars Class of 2021 Catskill , N.Y. - October 22 , 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 quarter ended September 30 , 2021 , which is the first quarter of the Company's fiscal year ending June 30 , 2022. Net income for the three months ended September 30 , 2021 was $ 7.1 million , or $ 0.84 per basic and diluted share , as compared to $ 4.9 million , or $ 0.57 per basic and diluted share , for the quarter ended September 30 , 2020. Net income increased $ 2.2 million , or 45.9 % , when comparing the quarters ended September 30 , 2021 and 2020 . Highlights : Net Income : $ 7.1 million for the quarter ended September 30 , 2021 • Total Assets : New high of $ 2.3 billion at September 30 , 2021 • Return on Average Assets : 1.28 % for the quarter ended September 30 , 2021 Return on Average Equity : 18.60 % for the quarter ended September 30 , 2021 Donald Gibson , President & CEO stated : “ I am proud of our strong performance in what has continued to be a very difficult rate environment . I am also proud to be recognized by Piper Sandler , as a member of their Sm - all Stars Class of 2021 , the Greene County Bancorp , Inc. is the only bank in the country to have achieved five consecutive years on their prestigious list . In order to earn Sm - All Star status , companies needed to have a market cap below $ 2.5 billion , and clear numerous hurdles related to growth , profitability , credit quality , and capital strength . Piper Sandler's objective is to identify the top performing small - cap banks and thrifts in the country . " Total consolidated assets for the Company were $ 2.3 billion at September 30 , 2021 , primarily consisting of $ 1.1 billion of net loans and $ 988.3 million of total securities available - for - sale and held - to - maturity . Consolidated deposits totaled $ 2.1 billion at September 30 , 2021 , consisting of retail , business and municipal banking relationships . The Company continues to closely monitor the impact of the coronavirus pandemic ( “ COVID - 19 ” ) on our business and results of operations . The Company continues to maintain strong asset quality , capital and liquidity and believes it is still well positioned to withstand the continued financial impact from the pandemic . Depending upon the duration of the COVID - 19 pandemic and the adequacy of strategies 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 September 30 , 2021 and believes that total reserves are adequate .