GOUVERNEUR BANCORP INC MD - GOVB STOCK NEWS

Gouverneur Bancorp, Inc. (OTC Pink: GOVB) reported its second quarter results for fiscal year 2022, with a net income of $575,000 or $0.39 per diluted share, down from $807,000 or $0.40 per diluted share year-on-year. Total assets decreased by 3.45% to $130.08 million. The merger with Citizens Bank of Cape Vincent is anticipated to complete by late third quarter 2022, incurring $281,000 in increased professional fees. Adjusted net income for the six months was $(77,000), reflecting a decline of 193.90% compared to the prior period. A semi-annual dividend of $0.10 per share was paid on March 31, 2022.

Gouverneur Bancorp, Inc. (OTC Pink: GOVB) announced a semi-annual dividend of $0.10 per share for stockholders of record as of March 15, 2022. This marks the 45th consecutive semi-annual dividend for the company and underscores its commitment to providing competitive dividends over the past 22 years. The dividend will be paid on March 31, 2022. The bank, which has been operational since 1892, serves St. Lawrence, Lewis, and Jefferson Counties in New York State.

On January 27, 2022, Gouverneur Bancorp, Inc. (OTC Pink: GOVB) reported first-quarter fiscal 2022 results, ending December 31, 2021. Net income decreased to $211,000 ($0.10 per diluted share) from $242,000 ($0.12 per diluted share) in the prior year. The company experienced a rise in professional fees to $162,000, attributed to the pending merger with Citizens Bank of Cape Vincent, expected to close by Q2 2022. Interest income fell 7.15% to $1.08 million while non-interest income dropped to $451,000. Adjusted net income plummeted 91.23% to $5,000.

Gouverneur Bancorp (OTC Pink: GOVB) announced a definitive merger agreement with Citizens Bank of Cape Vincent (CBCV). The merger will see CBCV merge into Gouverneur Savings and Loan Association, creating a combined entity with approximately $210 million in total assets. CBCV shareholders will receive $1,056.11 per share, totaling $8,448,900. This transaction aims to expand Gouverneur's footprint into Jefferson County, enhancing customer service and product offerings. The merger is expected to conclude in Q2 2022, pending regulatory approvals.

Gouverneur Bancorp, Inc. (OTC Pink: GOVB) reported fiscal year 2021 results, demonstrating resilience following COVID-19 disruptions. Total revenue reached $6.20 million, up from $4.30 million in 2020, with net income increasing 380.05% to $1,067,000 or $0.53 per diluted share. However, adjusted net income decreased by 29.69% to $322,000, or $0.16 per share. Notably, non-interest income surged to $2,093,000 from a loss of $191,000 in 2020. The Bank remains well-capitalized with a core capital ratio of 19.76%, alongside a 10.52% increase in deposits.

Gouverneur Bancorp, Inc. (OTCIQ: GOVB) reported its financial results for Q3 FY2021, showing a net income of $104,000 compared to $45,000 in Q3 FY2020. The Company saw an increase in deposits by $5.98 million, totaling $97.14 million as of June 30, 2021. Total assets rose by 2.75% to $132.82 million, while net loans decreased by $0.51 million. Adjusted net income for the nine months ended June 30, 2021, was $274,000, a slight increase from the previous year. The Company’s book value per share stands at $13.51.

Gouverneur Bancorp (OTCIQ: GOVB) has declared a semi-annual dividend of $0.12 per share, payable on September 30, 2021, to shareholders of record as of September 15, 2021. This marks the company's 44th consecutive semi-annual dividend, reflecting its ongoing success in maintaining competitive dividends despite challenging economic conditions. The bank's management continues to monitor potential pandemic impacts on future financial performance and dividend declarations.

Gouverneur Bancorp, Inc. (OTC Pink: GOVB) reported its Q2 fiscal 2021 results, showing a rebound from COVID-19 disruptions. For the six months ending March 31, 2021, net income rose to $807,000, or $0.40 per diluted share, compared to a loss of $637,000 in 2020. Deposits increased by 3.86% to $94.68 million, while total assets decreased slightly to $128.83 million. The company declared a semi-annual cash dividend of $0.12 per share to shareholders. Adjusted net income saw a decrease to $83,000 from $174,000 a year ago, reflecting ongoing challenges in the financial landscape.

Gouverneur Bancorp, Inc. (OTC Pink: GOVB) announced a semi-annual dividend of $0.12 per share, payable on March 31, 2021, to stockholders of record as of March 15, 2021. This marks the Company’s 43rd consecutive semi-annual dividend, showcasing its commitment to providing competitive dividends for over twenty-one years. President Charles C. Van Vleet acknowledged the challenges posed by the ongoing pandemic and indicated that the Company is monitoring its financial performance and future dividend possibilities.