10-K/A

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-K/A

Amendment No. 1

T ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the Fiscal Year Ended September June 30, 2015

OR

☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from _______________ to _______________

Commission File Number: 0-25165

Greene County Bancorp, Inc.

(Exact Name of Registrant as Specified in its Charter)

United States	14-180972
(State or Other Jurisdiction of Incorporation or Organization)	(I.R.S. Employer Identification Number)

302 Main Street, Catskill, New York	12414
(Address of Principal Executive Offices)	(Zip Code)

(518) 943-2600

(Registrant’s Telephone Number Including Area Code)

Securities Registered Pursuant to Section 12(b) of the Act:

Title of Each Class	Name of Each Exchange on Which Registered
Common Stock, par value $0.10 per share	The NASDAQ Stock Market, LLC

Securities Registered Pursuant to Section 12(g) of the Act: None

Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act.

Yes ☐ No T

Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or 15(d) of the Act.

Yes ☐ No T

Indicate by check mark whether the registrant: (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file reports), and (2) has been subject to such requirements for the past 90 days.

Yes T No ☐

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T during the preceding 12 months (or such shorter period that the registrant was required to submit and post such files). Yes T No ☐

Indicate by check mark if disclosure of delinquent filers pursuant to Item 405 of Regulation S-K (§229.405 of this chapter) is not contained herein, and will not be contained, to the best of registrant’s knowledge, in definitive proxy or information statements incorporated by reference in Part III of this Form 10-K or any amendment to this Form 10-K. T

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See the definitions of “large accelerated filer”, “accelerated filer” and “smaller reporting company” in Rule 12b-2 of the Exchange Act.

Large accelerated filer ☐ Accelerated filer ☐ Non-accelerated filer ☐ Smaller reporting company T

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).

Yes ☐ No T

As of December 31, 2014, there were issued and outstanding 4,218,857 shares of the Registrant's common stock of which 1,460,686 were shares of voting stock held by non-affiliates of the Registrant. Computed by reference to the closing price of Common Stock of $30.10 on December 31, 2014, the aggregate value of stock held by non-affiliates was $43,967,000. As of September 11, 2015, there were issued and outstanding 4,224,457 shares of the Registrant's common stock.

DOCUMENTS INCORPORATED BY REFERENCE

Portions of the registrant’s definitive Proxy Statement for the 2015 Annual Meeting of Shareholders are incorporated by reference into Part II and III of this Form 10-K where indicated.

EXPLANATORY NOTE

Greene County Bancorp, Inc. (the “Company”) is filing this Amendment No. 1 (the “Amendment No. 1”) to its Annual Report on Form 10-K for the fiscal year ended June 30, 2015, which was originally filed on September 28, 2015 (the “Original Filing”) for the sole purpose of furnishing Exhibit 101 to the Form 10-K in accordance with Rule 405 of Regulation S-T. Exhibit 101 to Amendment No. 1 provides the consolidated financial statements and related notes from the Form 10-K formatted in XBRL (eXtensible Business Reporting Language).

Other than the addition of Exhibit 101, no other changes have been made to the Original Filing.

This Amendment No.1 does not reflect events that may have occurred subsequent to the filing date of the Original Filing, and does not modify or update in any way disclosures made in the Form 10-K for the fiscal year ended June 30, 2015.

Pursuant to Rule 406T of Regulation S-T, the interactive data files contained in Exhibit 101 hereto are deemed not filed or part of a registration statement or prospectus for purposes of Sections 11 or 12 of the Securities Act of 1933, as amended, are deemed not filed for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, and otherwise are not subject to liability under those sections.

Item 6. Exhibits

Exhibit Number	Description
31.1	Certification of Chief Executive Officer Pursuant toSection 302 of the Sarbanes-Oxley Act of 2002
31.2	Certification of Chief Financial Officer Pursuant toSection 302 of the Sarbanes-Oxley Act of 2002
32.1	Certification of Chief Executive Officer Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002
32.2	Certification of Chief Financial Officer Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002
101	The following materials from Greene County Bancorp, Inc. Form 10-K for the year ended June 30, 2015, formatted in Extensible Business Reporting Language (XBRL): (i) the Consolidated Statements of Income, (ii) the Consolidated Statements of Financial Condition, (iii) Consolidated Statements of Comprehensive Income, (iv) Consolidated Statements of Changes in Shareholders’ Equity, (v) Consolidated Statements of Cash Flows and (vi) related notes, tagged as blocks of text and in detail.

SIGNATURES

In accordance with Section 13 or 15(d) of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

	GREENE COUNTY BANCORP, INC.
Date: September 29, 2015	By: /s/ Donald E. Gibson
	Donald E. Gibson
	President and Chief Executive Officer

In accordance with the Securities Exchange Act of 1934, this report has been signed below by the following persons on behalf of the Registrant and in the capacities and on the dates indicated.

By: /s/ Michelle Plummer

Michelle Plummer, CPA

Executive Vice President,

Chief Operating Officer and Chief Financial Officer

Date: September 29, 2015

By: /s/ Jay P. Cahalan

Jay P. Cahalan

Director

Date: September 29, 2015

By: /s/ David H. Jenkins

David H. Jenkins, DVM

Director

Date: September 29, 2015

By: /s/ Peter W. Hogan, CPA

Peter W. Hogan, CPA

Director

Date: September 29, 2015

By: /s/ Charles Schaefer

Charles Schaefer

Director

Date: September 29, 2015

By: /s/ Paul Slutzky

Paul Slutzky

Director

Date: September 29, 2015

By: /s/ Martin C. Smith

Martin C. Smith

Chairman of the Board

Date: September 29, 2015

EX-31.1

EXHIBIT 31.1

Certification of Chief Executive Officer

Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002

I, Donald E. Gibson, certify that:

1. I have reviewed this annual report on Form 10-K/A of Greene County Bancorp, Inc.;

2. Based on my knowledge, this annual report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the consolidated financial statements, and other financial information included in this annual report, fairly present in all material respects the consolidated financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4. The registrant’s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f) for the registrant and have:

a) designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

b) designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of consolidated financial statements for external purposes in accordance with generally accepted accounting principles;

c) evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

d) disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

5. The registrant’s other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors:

a) all significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and

b) any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

Date: September 29, 2015	/s/ Donald E. Gibson
	Donald E. Gibson,
	President and Chief Executive Officer

EX-31.2

EXHIBIT 31.2

Certification of Chief Financial Officer

Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002

I, Michelle M. Plummer, certify that:

1. I have reviewed this annual report on Form 10-K/A of Greene County Bancorp, Inc.;

2. Based on my knowledge, this annual report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the consolidated financial statements, and other financial information included in this report, fairly present in all material respects the consolidated financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4. The registrant’s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f) for the registrant and have:

a) designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

b) designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of consolidated financial statements for external purposes in accordance with generally accepted accounting principles;

c) evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

d) disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

5. The registrant’s other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors:

a) all significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and

b) any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

Date: September 29, 2015	/s/ Michelle M. Plummer
	Michelle M. Plummer, CPA
	Executive Vice President,
	Chief Financial Officer and Chief Operating Officer

EX-32.1

EXHIBIT 32.1

Statement of Chief Executive Officer

Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002

Donald E. Gibson, President and Chief Executive Officer of Greene County Bancorp, Inc. (the “Company”), certifies in his capacity as an officer of the Company that he has reviewed the Annual Report of the Company on Form 10-K/A for the year ended June 30, 2015 and that to the best of his knowledge:

1. the report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

2. the information contained in the report fairly presents, in all material respects, the consolidated financial condition and results of operations of the Company as of the dates and for the periods covered by the report.

This statement is authorized to be attached as an exhibit to the report so that this statement will accompany the report at such time as the report is filed with the Securities and Exchange Commission pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, 18 USC 1350.  It is not intended that this statement be deemed to be filed for purposes of the Securities Exchange Act of 1934, as amended.

Date: September 29, 2015	/s/ Donald E. Gibson
	Donald E. Gibson
	President and Chief Executive Officer

EX-32.2

EXHIBIT 32.2

Statement of Chief Financial Officer

Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002

Michelle M. Plummer, Chief Financial Officer of Greene County Bancorp, Inc. (the “Company”), certifies in her capacity as an officer of the Company that she has reviewed the Annual Report of the Company on Form 10-K/A for the year ended June 30, 2015 and that to the best of her knowledge:

1. the report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

2. the information contained in the report fairly presents, in all material respects, the consolidated financial condition and results of operations of the Company as of the dates and for the periods covered by the report.

This statement is authorized to be attached as an exhibit to the report so that this statement will accompany the report at such time as the report is filed with the Securities and Exchange Commission pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, 18 USC 1350.  It is not intended that this statement be deemed to be filed for purposes of the Securities Exchange Act of 1934, as amended.

Date: September 29, 2015	/s/ Michelle M. Plummer
	Michelle M. Plummer, CPA
	Executive Vice President,
	Chief Financial Officer and Chief Operating Officer

XML

Income Taxes (Tables)

12 Months Ended

Jun. 30, 2015

Income Taxes [Abstract]

Provision for Income Taxes

The provision for income taxes consists of the following for the years ended June 30, 2015 and 2014:

(In thousands)	2015		2014
Current expense:
Federal	$	1,722	$	2,246
State		108		273
Total current expense		1,830		2,519
Deferred expense		488		18
Total provision for income taxes	$	2,318	$	2,537

Effective Tax Rate Reconciliation

The effective tax rate differs from the federal statutory rate as follows for the years ended June 30, 2015 and 2014:

	2015			2014
Tax based on federal statutory rate		34.00	%		34.00	%
State income taxes, net of federal benefit		0.50			1.02
Tax-exempt income		(8.75	)		(7.97	)
Other, net		(1.39	)		0.94
Total income tax expense		24.36	%		27.99	%

Deferred Tax Assets and Liabilities

The components of the deferred tax assets and liabilities at June 30 were as follows:

(In thousands)	2015			2014
Deferred tax assets:
Allowance for loan losses	$	3,150		$	2,870
Pension benefits		377			164
Other benefit plans		697			511
Other		114			142
Total deferred tax assets		4,338			3,687
Deferred tax liabilities:
Depreciation		1,416			1,405
Loan costs		706			634
Real estate investment trust income		2,252			1,614
Unrealized gains on securities		437			116
Other		219			-
Total deferred tax liabilities		5,030			3,769
Net deferred tax liability included in other liabilities	$	(692	)	$	(82	)

XML

Loans, Impaired Loans By Loan Portfolio Class (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
With no related allowance recorded [Abstract]
Recorded investment	$ 1,792	$ 763
Unpaid principal balance	1,998	763
Average recorded investment	1,786	872
Interest income recognized	87	46
With an allowance recorded [Abstract]
Recorded investment	2,399	6,075
Unpaid principal balance	2,399	6,552
Related allowance	451	869
Average recorded investment	4,353	6,623
Interest income recognized	164	183
Recorded investment	4,191	6,838
Unpaid principal balance	4,397	7,315
Average recorded investment	6,139	7,495
Interest income recognized	251	229
Residential Real Estate [Member] | Residential Real Estate [Member]
With no related allowance recorded [Abstract]
Recorded investment	432	206
Unpaid principal balance	432	206
Average recorded investment	508	330
Interest income recognized	27	14
With an allowance recorded [Abstract]
Recorded investment	1,411	2,700
Unpaid principal balance	1,411	2,790
Related allowance	263	441
Average recorded investment	2,176	2,978
Interest income recognized	80	64
Recorded investment	1,843	2,906
Unpaid principal balance	1,843	2,996
Average recorded investment	2,684	3,308
Interest income recognized	107	78
Residential Real Estate [Member] | Multi-family [Member]
With an allowance recorded [Abstract]
Recorded investment		0
Unpaid principal balance		0
Related allowance		0
Average recorded investment		193
Interest income recognized		0
Recorded investment		0
Unpaid principal balance		0
Average recorded investment		193
Interest income recognized		0
Commercial Real Estate [Member] | Real Estate Mortgage [Member]
With no related allowance recorded [Abstract]
Recorded investment	1,206	461
Unpaid principal balance	1,412	461
Average recorded investment	1,000	518
Interest income recognized	45	29
With an allowance recorded [Abstract]
Recorded investment	895	2,572
Unpaid principal balance	895	2,959
Related allowance	187	338
Average recorded investment	1,675	2,346
Interest income recognized	61	63
Recorded investment	2,101	3,033
Unpaid principal balance	2,307	3,420
Average recorded investment	2,675	2,864
Interest income recognized	106	92
Commercial Real Estate [Member] | Construction [Member]
With an allowance recorded [Abstract]
Recorded investment		0
Unpaid principal balance		0
Related allowance		0
Average recorded investment		350
Interest income recognized		17
Recorded investment		0
Unpaid principal balance		0
Average recorded investment		350
Interest income recognized		17
Consumer Loan [Member] | Home Equity [Member]
With no related allowance recorded [Abstract]
Recorded investment	154	96
Unpaid principal balance	154	96
Average recorded investment	70	24
Interest income recognized	1	3
With an allowance recorded [Abstract]
Recorded investment	0	200
Unpaid principal balance	0	200
Related allowance	0	87
Average recorded investment	154	150
Interest income recognized	0	0
Recorded investment	154	296
Unpaid principal balance	154	296
Average recorded investment	224	174
Interest income recognized	1	3
Commercial Loans [Member]
With no related allowance recorded [Abstract]
Recorded investment	0
Unpaid principal balance	0
Average recorded investment	208
Interest income recognized	14
With an allowance recorded [Abstract]
Recorded investment	93	603
Unpaid principal balance	93	603
Related allowance	1	3
Average recorded investment	348	606
Interest income recognized	23	39
Recorded investment	93	603
Unpaid principal balance	93	603
Average recorded investment	556	606
Interest income recognized	$ 37	$ 39

XML

Securities, Securities in Continuous Unrealized Loss Position (Details)	12 Months Ended
	Jun. 30, 2015 USD ($) Security	Jun. 30, 2014 USD ($) Security
Available-for-sale Securities, Continuous Unrealized Loss Position [Abstract]
Less than 12 Months, Fair Value	$ 3,095,000	$ 9,517,000
Less Than 12 Months, Unrealized Losses	$ 29,000	$ 34,000
Less Than 12 Months, Number of Securities | Security	3	7
More Than 12 Months, Fair Value	$ 2,883,000	$ 19,417,000
More Than 12 Months, Unrealized Losses	$ 37,000	$ 336,000
More Than 12 Months, Number of Securities | Security	5	8
Total, Fair Value	$ 5,978,000	$ 28,934,000
Total, Unrealized Losses	$ 66,000	$ 370,000
Total, Number of Securities | Security	8	15
Available for sale securities transferred at fair value to held to maturity	$ 0	$ 11,735,000
Unrealized losses on transfer of securities	0	805,000
Gross realized gains on sale of available-for-sale securities	0	0
Other-than-temporary impairment losses	0	0
Net realized gains (losses)	0	0
Held-to-maturity Securities, Continuous Unrealized Loss Position [Abstract]
Less than 12 Months, Fair Value	25,969,000	35,243,000
Less than 12 Months, Unrealized Losses	$ 254,000	$ 1,896,000
Less Than 12 Months, Number of Securities | Security	54	44
More Than 12 Months, Fair Value	$ 31,561,000	$ 17,656,000
More Than 12 Months, Unrealized Losses	$ 665,000	$ 815,000
More Than 12 Months, Number of Securities | Security	17	19
Total, Fair Value	$ 57,530,000	$ 52,899,000
Total, Unrealized Losses	$ 919,000	$ 2,711,000
Total, Number of Securities | Security	71	63
Total Securities, Continuous Unrealized Loss Position [Abstract]
Less than 12 Months, Fair Value	$ 29,064,000	$ 44,760,000
Less Than 12 Months, Unrealized Losses	$ 283,000	$ 1,930,000
Less Than 12 Months, Number of Securities | Security	57	51
More Than 12 Months, Fair Value	$ 34,444,000	$ 37,073,000
More Than 12 Months, Unrealized Losses	$ 702,000	$ 1,151,000
More Than 12 Months, Number of Securities | Security	22	27
Total, Fair Value	$ 63,508,000	$ 81,833,000
Total, Unrealized Losses	$ 985,000	$ 3,081,000
Total, Number of Securities | Security	79	78
State and Political Subdivisions [Member]
Available-for-sale Securities, Continuous Unrealized Loss Position [Abstract]
Less than 12 Months, Fair Value	$ 799,000
Less Than 12 Months, Unrealized Losses	$ 1,000
Less Than 12 Months, Number of Securities | Security	1
More Than 12 Months, Fair Value	$ 0
More Than 12 Months, Unrealized Losses	$ 0
More Than 12 Months, Number of Securities | Security	0
Total, Fair Value	$ 799,000
Total, Unrealized Losses	$ 1,000
Total, Number of Securities | Security	1
Mortgage-backed Securities-Residential [Member]
Available-for-sale Securities, Continuous Unrealized Loss Position [Abstract]
Less than 12 Months, Fair Value	$ 0	$ 4,302,000
Less Than 12 Months, Unrealized Losses	$ 0	$ 13,000
Less Than 12 Months, Number of Securities | Security	0	2
More Than 12 Months, Fair Value	$ 1,630,000	$ 0
More Than 12 Months, Unrealized Losses	$ 10,000	$ 0
More Than 12 Months, Number of Securities | Security	1	0
Total, Fair Value	$ 1,630,000	$ 4,302,000
Total, Unrealized Losses	$ 10,000	$ 13,000
Total, Number of Securities | Security	1	2
Mortgage-backed Securities-Multi-Family [Member]
Available-for-sale Securities, Continuous Unrealized Loss Position [Abstract]
Less than 12 Months, Fair Value	$ 2,023,000	$ 4,448,000
Less Than 12 Months, Unrealized Losses	$ 26,000	$ 5,000
Less Than 12 Months, Number of Securities | Security	1	3
More Than 12 Months, Fair Value	$ 753,000	$ 19,404,000
More Than 12 Months, Unrealized Losses	$ 16,000	$ 334,000
More Than 12 Months, Number of Securities | Security	1	7
Total, Fair Value	$ 2,776,000	$ 23,852,000
Total, Unrealized Losses	$ 42,000	$ 339,000
Total, Number of Securities | Security	2	10
Asset-Backed Securities [Member]
Available-for-sale Securities, Continuous Unrealized Loss Position [Abstract]
Less than 12 Months, Fair Value	$ 0	$ 0
Less Than 12 Months, Unrealized Losses	$ 0	$ 0
Less Than 12 Months, Number of Securities | Security	0	0
More Than 12 Months, Fair Value	$ 9,000	$ 13,000
More Than 12 Months, Unrealized Losses	$ 1,000	$ 2,000
More Than 12 Months, Number of Securities | Security	1	1
Total, Fair Value	$ 9,000	$ 13,000
Total, Unrealized Losses	$ 1,000	$ 2,000
Total, Number of Securities | Security	1	1
Corporate Debt Securities [Member]
Available-for-sale Securities, Continuous Unrealized Loss Position [Abstract]
Less than 12 Months, Fair Value	$ 273,000	$ 767,000
Less Than 12 Months, Unrealized Losses	$ 2,000	$ 16,000
Less Than 12 Months, Number of Securities | Security	1	2
More Than 12 Months, Fair Value	$ 491,000	$ 0
More Than 12 Months, Unrealized Losses	$ 10,000	$ 0
More Than 12 Months, Number of Securities | Security	2	0
Total, Fair Value	$ 764,000	$ 767,000
Total, Unrealized Losses	$ 12,000	$ 16,000
Total, Number of Securities | Security	3	2
U.S. Government Sponsored Enterprises [Member]
Held-to-maturity Securities, Continuous Unrealized Loss Position [Abstract]
Less than 12 Months, Fair Value	$ 0	$ 1,898,000
Less than 12 Months, Unrealized Losses	$ 0	$ 102,000
Less Than 12 Months, Number of Securities | Security	0	1
More Than 12 Months, Fair Value	$ 1,951,000	$ 0
More Than 12 Months, Unrealized Losses	$ 49,000	$ 0
More Than 12 Months, Number of Securities | Security	1	0
Total, Fair Value	$ 1,951,000	$ 1,898,000
Total, Unrealized Losses	$ 49,000	$ 102,000
Total, Number of Securities | Security	1	1
State and Political Subdivisions [Member]
Held-to-maturity Securities, Continuous Unrealized Loss Position [Abstract]
Less than 12 Months, Fair Value	$ 11,171,000	$ 6,693,000
Less than 12 Months, Unrealized Losses	$ 143,000	$ 175,000
Less Than 12 Months, Number of Securities | Security	49	34
More Than 12 Months, Fair Value	$ 1,221,000	$ 1,815,000
More Than 12 Months, Unrealized Losses	$ 44,000	$ 29,000
More Than 12 Months, Number of Securities | Security	9	11
Total, Fair Value	$ 12,392,000	$ 8,508,000
Total, Unrealized Losses	$ 187,000	$ 204,000
Total, Number of Securities | Security	58	45
Mortgage-backed Securities-Residential [Member]
Held-to-maturity Securities, Continuous Unrealized Loss Position [Abstract]
Total, Unrealized Losses	$ 0	$ 0
Mortgage-backed Securities-Multi-Family [Member]
Held-to-maturity Securities, Continuous Unrealized Loss Position [Abstract]
Less than 12 Months, Fair Value	14,464,000	26,522,000
Less than 12 Months, Unrealized Losses	$ 100,000	$ 1,617,000
Less Than 12 Months, Number of Securities | Security	4	7
More Than 12 Months, Fair Value	$ 28,187,000	$ 15,440,000
More Than 12 Months, Unrealized Losses	$ 565,000	$ 764,000
More Than 12 Months, Number of Securities | Security	6	6
Total, Fair Value	$ 42,651,000	$ 41,962,000
Total, Unrealized Losses	$ 665,000	$ 2,381,000
Total, Number of Securities | Security	10	13
Other Securities [Member]
Held-to-maturity Securities, Continuous Unrealized Loss Position [Abstract]
Less than 12 Months, Fair Value	$ 334,000	$ 130,000
Less than 12 Months, Unrealized Losses	$ 11,000	$ 2,000
Less Than 12 Months, Number of Securities | Security	1	2
More Than 12 Months, Fair Value	$ 202,000	$ 401,000
More Than 12 Months, Unrealized Losses	$ 7,000	$ 22,000
More Than 12 Months, Number of Securities | Security	1	2
Total, Fair Value	$ 536,000	$ 531,000
Total, Unrealized Losses	$ 18,000	$ 24,000
Total, Number of Securities | Security	2	4

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Employee Benefit Plans, Schedule of Allocation of Plan Assets (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2013
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Total plan assets	$ 4,481	$ 4,887	$ 4,637
Weighted-average plan asset allocation (in hundredths)	100.00%	100.00%
Money Market Funds [Member]
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Total plan assets	$ 15	$ 15
Weighted-average plan asset allocation (in hundredths)	0.30%	0.30%
Large Cap Value Funds [Member]
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Target allocation for investment in mutual funds (in hundredths)	20.00%
Mutual Funds [Member]
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Total plan assets	$ 4,466	$ 4,872
Weighted-average plan asset allocation (in hundredths)	99.70%	99.70%
Maximum allowable variation (in hundredths)	5.00%
Short-term and intermediate-term securities [Member]
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Target allocation for investment in mutual funds (in hundredths)	80.00%

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Loans, Troubled Debt Restructurings on Financing Receivables (Details) $ in Thousands	12 Months Ended
	Jun. 30, 2015 USD ($) Contract	Jun. 30, 2014 USD ($) Contract
Financing Receivable, Modifications [Line Items]
Financing receivable, modifications, number of contracts | Contract		8
Financing receivable, modifications, subsequent default, number of contracts | Contract	0
Number of TDR contracts returned to accrual status | Contract		2
Residential Real Estate [Member] | Residential Real Estate [Member]
Financing Receivable, Modifications [Line Items]
Financing receivable, modifications, number of contracts | Contract	1	3
Financing receivable, modifications, pre-modification outstanding recorded investment	$ 164	$ 575
Financing receivable, modifications, post-modification outstanding recorded investment	184	575
Financing receivable, modifications, current outstanding recorded investment	$ 183	$ 566
Financing receivable, modifications, subsequent default, number of contracts | Contract		2
Financing receivable, modifications, subsequent default, recorded investment		$ 284
Financing receivable, modifications, subsequent default, allowance for loan loss		$ 65
Commercial Real Estate [Member] | Real Estate Mortgage [Member]
Financing Receivable, Modifications [Line Items]
Financing receivable, modifications, number of contracts | Contract		5
Financing receivable, modifications, pre-modification outstanding recorded investment		$ 1,789
Financing receivable, modifications, post-modification outstanding recorded investment		1,848
Financing receivable, modifications, current outstanding recorded investment		$ 1,589
Financing receivable, modifications, subsequent default, number of contracts | Contract		2
Financing receivable, modifications, subsequent default, recorded investment		$ 894
Financing receivable, modifications, subsequent default, allowance for loan loss		$ 192

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Income Taxes, Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands	Jun. 30, 2015	Jun. 30, 2014
Deferred tax assets [Abstract]
Allowance for loan losses	$ 3,150	$ 2,870
Pension benefits	377	164
Other benefit plans	697	511
Other	114	142
Total deferred tax assets	4,338	3,687
Deferred tax liabilities [Abstract]
Depreciation	1,416	1,405
Loan costs	706	634
Real estate investment trust income	2,252	1,614
Unrealized gains on securities	437	116
Other	219	0
Total deferred tax liabilities	5,030	3,769
Net deferred tax liability included in other liabilities	(692)	(82)
Uncertain tax positions	$ 0	$ 0

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Balances at Other Banks (Details) - USD ($) $ in Millions	Jun. 30, 2015	Jun. 30, 2014
Balances at Other Banks [Abstract]
Restricted cash and cash equivalents	$ 1.3	$ 1.2

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Deposits (Tables)

12 Months Ended

Jun. 30, 2015

Deposits [Abstract]

Schedule of Deposits

Major classifications of deposits at June 30, 2015 and 2014 are summarized as follows:

(In thousands)	2015		2014
Noninterest-bearing deposits	$	73,359	$	67,446
Certificates of deposit		43,121		48,900
Savings deposits		163,927		165,227
Money market deposits		103,724		87,363
NOW deposits		238,586		220,638
Total deposits	$	622,717	$	589,574

Schedule of Deposits by Time Remaining on Maturity

The following indicates the amount of certificates of deposit by time remaining to maturity as of June 30, 2015.

(In thousands)	3 months or less		3 to 6 Months		7 to 12 Months		Over 12 Months		Total
Certificates of deposit less than $100,000	$	6,740	$	5,124	$	4,452	$	11,934	$	28,250
Certificates of deposit $100,000 or more		2,635		949		1,466		9,821		14,871
Total certificates of deposit	$	9,375	$	6,073	$	5,918	$	21,755	$	43,121

Schedule of Certificates of Deposits by Year of Maturity

Scheduled maturities of certificates of deposit at June 30, 2015 were as follows:

(In thousands)
The year ended June 30,
2016	$	21,366
2017		4,805
2018		7,196
2019		4,765
2020		4,989
	$	43,121

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Commitments and Contingent Liabilities (Details) - USD ($) $ in Thousands	Jun. 30, 2015	Jun. 30, 2014
Commitments [Line Items]
Total commitments	$ 57,706	$ 37,785
Residential Real Estate Loan Commitments [Member]
Commitments [Line Items]
Total commitments	5,087	2,380
Construction and Land Loan Commitments [Member]
Commitments [Line Items]
Total commitments	5,622	3,138
Commercial Real Estate Loan Commitments [Member]
Commitments [Line Items]
Total commitments	15,855	8,757
Home Equity Available Lines of Credit [Member]
Commitments [Line Items]
Total commitments	8,295	8,159
Consumer Overdraft Available Lines of Credit [Member]
Commitments [Line Items]
Total commitments	698	706
Commercial Loan Available Lines of Credit [Member]
Commitments [Line Items]
Total commitments	21,264	14,419
Commercial Loan Commitments [Member]
Commitments [Line Items]
Total commitments	$ 885	$ 226

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Stock-Based Compensation, Stock Options Outstanding and Exercisable (Details) - $12.50 [Member]	12 Months Ended
	Jun. 30, 2015 $ / shares shares
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Exercise Price Range, Upper Range Limit (in dollars per share)	$ 12.50
Exercise Price Range, Lower Range Limit (in dollars per share)	$ 12.50
Number Outstanding (in shares) | shares	47,835
Options Outstanding, Weighted Average Remaining Contractual Life	3 years 3 months
Options Outstanding, Weighted Average Exercise Price (in dollars per share)	$ 12.50
Options Exercisable, Weighted Average Remaining Contractual Life	3 years 3 months
Options Exercisable, Weighted Average Exercise Price (in dollars per share)	$ 12.50

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Condensed Financial Statements of Greene County Bancorp, Inc., Condensed Statements of Cash Flows (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Cash flows from operating activities [Abstract]
Net income	$ 7,189	$ 6,528
Adjustments to reconcile net income to cash provided by (used by) operating activities [Abstract]
Tax benefit of stock based compensation	(16)	(27)
Net increase in prepaid expenses and other assets	(819)	(88)
Net cash provided by operating activities	12,798	11,385
Cash flows from Investing Activities [Abstract]
Net cash used in investing activities	(66,541)	(36,847)
Cash flows from financing activities [Abstract]
Payment of cash dividends	(1,798)	(1,335)
Excess tax benefit from share-based payment arrangements	16	27
Net cash provided by financing activities	55,472	33,049
Net increase in cash and cash equivalents	1,729	7,587
Parent Company [Member]
Cash flows from operating activities [Abstract]
Net income	7,189	6,528
Adjustments to reconcile net income to cash provided by (used by) operating activities [Abstract]
Undistributed earnings of subsidiaries	(7,491)	(4,682)
Tax benefit of stock based compensation	(16)	(28)
Net increase in prepaid expenses and other assets	(5)	0
Net increase in total liabilities	21	20
Net cash provided by operating activities	(302)	1,838
Cash flows from Investing Activities [Abstract]
Investment in subsidiary	(250)	0
Net cash used in investing activities	(250)	0
Cash flows from financing activities [Abstract]
Payment of cash dividends	(1,798)	(1,335)
Proceeds from exercise of stock options	61	172
Excess tax benefit from share-based payment arrangements	16	28
Net cash provided by financing activities	(1,721)	(1,135)
Net increase in cash and cash equivalents	(2,273)	703
Cash and cash equivalents at beginning of year	2,817	2,114
Cash and cash equivalents at end of year	$ 544	$ 2,817

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Premises and Equipment (Details) - USD ($) $ in Thousands	Jun. 30, 2015	Jun. 30, 2014
Property, Plant and Equipment [Line Items]
Less: accumulated depreciation	$ (8,103)	$ (7,559)
Total premises and equipment	14,515	14,307
Land [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	2,883	2,883
Building and Improvements [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	15,693	15,411
Furniture and Equipment [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 4,042	$ 3,572

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Income Taxes, Provision for Income Taxes (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Current expense [Abstract]
Federal	$ 1,722	$ 2,246
State	108	273
Total current expense	1,830	2,519
Deferred expense	488	18
Total provision for income taxes	$ 2,318	$ 2,537

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Condensed Financial Statements of Greene County Bancorp, Inc., Condensed Statements of Financial Condition (Details) - USD ($) $ in Thousands	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2013
ASSETS [Abstract]
Total assets	$ 738,647	$ 674,161
LIABILITIES AND SHAREHOLDERS' EQUITY [Abstract]
Total liabilities	671,727	612,961
Total shareholders' equity	66,920	61,200	$ 56,108
Total liabilities and shareholders' equity	738,647	674,161
Parent Company [Member]
ASSETS [Abstract]
Cash and cash equivalents	544	2,817	$ 2,114
Investment in subsidiaries	66,412	58,419
Prepaid expenses and other assets	21	16
Total assets	66,977	61,252
LIABILITIES AND SHAREHOLDERS' EQUITY [Abstract]
Total liabilities	57	52
Total shareholders' equity	66,920	61,200
Total liabilities and shareholders' equity	$ 66,977	$ 61,252

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Fair Value Measurements and Fair Value of Financial Instruments, Fair Value, Assets Measured on Recurring Basis (Details) - USD ($) $ in Thousands	Jun. 30, 2015	Jun. 30, 2014
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available-for-sale	$ 86,034	$ 56,151
Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available-for-sale	86,034	56,151
Recurring [Member] | Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available-for-sale	4,920	5,343
Recurring [Member] | Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available-for-sale	81,114	50,808
Recurring [Member] | Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available-for-sale	0	0
Recurring [Member] | U.S. Government Sponsored Enterprises [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available-for-sale	7,855	10,898
Recurring [Member] | U.S. Government Sponsored Enterprises [Member] | Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available-for-sale	0	0
Recurring [Member] | U.S. Government Sponsored Enterprises [Member] | Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available-for-sale	7,855	10,898
Recurring [Member] | U.S. Government Sponsored Enterprises [Member] | Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available-for-sale	0	0
Recurring [Member] | State and Political Subdivisions [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available-for-sale	39,582	1,347
Recurring [Member] | State and Political Subdivisions [Member] | Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available-for-sale	0	0
Recurring [Member] | State and Political Subdivisions [Member] | Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available-for-sale	39,582	1,347
Recurring [Member] | State and Political Subdivisions [Member] | Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available-for-sale	0	0
Recurring [Member] | Mortgage-backed Securities-residential [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available-for-sale	7,942	9,545
Recurring [Member] | Mortgage-backed Securities-residential [Member] | Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available-for-sale	0	0
Recurring [Member] | Mortgage-backed Securities-residential [Member] | Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available-for-sale	7,942	9,545
Recurring [Member] | Mortgage-backed Securities-residential [Member] | Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available-for-sale	0	0
Recurring [Member] | Mortgage-backed Securities-multi-family [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available-for-sale	25,735	29,018
Recurring [Member] | Mortgage-backed Securities-multi-family [Member] | Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available-for-sale	0	0
Recurring [Member] | Mortgage-backed Securities-multi-family [Member] | Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available-for-sale	25,735	29,018
Recurring [Member] | Mortgage-backed Securities-multi-family [Member] | Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available-for-sale	0	0
Recurring [Member] | Asset-backed Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available-for-sale	9	13
Recurring [Member] | Asset-backed Securities [Member] | Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available-for-sale	9	13
Recurring [Member] | Asset-backed Securities [Member] | Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available-for-sale	0	0
Recurring [Member] | Asset-backed Securities [Member] | Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available-for-sale	0	0
Recurring [Member] | Corporate Debt Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available-for-sale	4,774	5,170
Recurring [Member] | Corporate Debt Securities [Member] | Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available-for-sale	4,774	5,170
Recurring [Member] | Corporate Debt Securities [Member] | Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available-for-sale	0	0
Recurring [Member] | Corporate Debt Securities [Member] | Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available-for-sale	0	0
Recurring [Member] | Equity Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available-for-sale	137	160
Recurring [Member] | Equity Securities [Member] | Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available-for-sale	137	160
Recurring [Member] | Equity Securities [Member] | Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available-for-sale	0	0
Recurring [Member] | Equity Securities [Member] | Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available-for-sale	$ 0	$ 0

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Condensed Financial Statements of Greene County Bancorp, Inc., Condensed Statements of Income (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
OPERATING EXPENSES [Abstract]
Other	$ 2,045	$ 1,754
Net income	7,189	6,528
Parent Company [Member]
INCOME [Abstract]
Equity in undistributed net income of subsidiaries	7,491	4,682
Dividend distributed by subsidiary	4	2,004
Interest-earning deposits	5	7
Total income	7,500	6,693
OPERATING EXPENSES [Abstract]
Legal Fees	201	62
Other	110	103
Total operating expenses	311	165
Net income	$ 7,189	$ 6,528

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Income Taxes, Effective Tax Rate Reconciliation (Details)	12 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Income Taxes [Abstract]
Tax based on federal statutory rate (in hundredths)	34.00%	34.00%
State income taxes, net of federal benefit (in hundredths)	0.50%	1.02%
Tax-exempt income (in hundredths)	(8.75%)	(7.97%)
Other, net (in hundredths)	(1.39%)	0.94%
Total income tax expense (in hundredths)	24.36%	27.99%

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Employee Benefit Plans, Schedule of Expected Benefit Payments (Details)	12 Months Ended
	Jun. 30, 2015 USD ($) Installment	Jun. 30, 2014 USD ($)
Defined Benefit Plan, Expected Future Benefit Payments, Fiscal Year Maturity [Abstract]
2016	$ 184,000
2017	215,000
2018	215,000
2019	215,000
2020	214,000
2021-2025	$ 1,184,000
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Required service period to participate in Defined Contribution Plan	3 months
Maximum contribution allowed by employees on pre-tax basis (in hundredths)	50.00%
Equal matching of employer contribution dollar for dollar (in hundredths)	3.00%
Percentage of employer contribution for next 3% (in hundredths)	50.00%
Company contributions associated with the contribution plan	$ 221,000	$ 215,000
Payment authorized for purchase of additional shares for ESOP	84,000	84,000
ESOP Expense	$ 84,000	84,000
Employee Stock Option [Member]
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Award vesting period	3 years
Supplemental Executive Retirement Plan [Member]
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Maximum annual contribution per employee	up to 50% of his or her base salary and 100% of his or her annual bonus
Company contributions associated with the contribution plan	$ 248,000	167,000
Vesting period	10 years
Period in which lump sum benefit will be paid in the event of death, disability or termination	2 years
Number of annual installments, benefit will be paid | Installment	10
Postemployment benefits liability	$ 1,400,000	$ 899,000

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Fair Value Measurements and Fair Value of Financial Instruments

12 Months Ended

Jun. 30, 2015

Fair Value Measurements and Fair Value of Financial Instruments [Abstract]

Fair Value Measurements and Fair Value of Financial Instruments

Note 16.  Fair Value Measurements and Fair Value of Financial Instruments

Management uses its best judgment in estimating the fair value of the Company’s financial instruments; however, there are inherent weaknesses in any estimation technique.  Therefore, for substantially all financial instruments, the fair value estimates herein are not necessarily indicative of the amounts the Company could have realized in a sale transaction on the dates indicated.  The estimated fair value amounts have been measured as of June 30, 2015 and 2014 and have not been re-evaluated or updated for purposes of these consolidated financial statements subsequent to those respective dates.  As such, the estimated fair values of these financial instruments subsequent to the respective reporting dates may be different than the amounts reported at each period-end.

The following information should not be interpreted as an estimate of the fair value of the entire Company since a fair value calculation is only provided for a limited portion of the Company’s assets and liabilities.  Due to a wide range of valuation techniques and the degree of subjectivity used in making the estimates, comparisons between the Company’s disclosures and those of other companies may not be meaningful.

The FASB ASC Topic on “Fair Value Measurement” established a fair value hierarchy that prioritized the inputs to valuation techniques used to measure fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements). The three levels of the fair value hierarchy are as follows:

Level 1: Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities.

Level 2: Quoted prices in markets that are not active, or inputs that are observable either directly or indirectly, for substantially the full term of the asset or liability.

Level 3: Prices or valuation techniques that require inputs that are both significant to the fair value measurement and unobservable (i.e., supported with little or no market activity).

An asset’s or liability’s level within the fair value hierarchy is based on the lowest level of input that is significant to the fair value measurement.

For assets measured at fair value on a recurring basis, the fair value measurements by level within the fair value hierarchy used are as follows:

			Fair Value Measurements Using
(In thousands)	June 30, 2015		Quoted Prices In Active Markets For Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Assets:
U.S. Government sponsored enterprises	$	7,855	$	-	$	7,855	$	-
State and political subdivisions		39,582		-		39,582		-
Mortgage-backed securities-residential		7,942		-		7,942		-
Mortgage-backed securities-multi-family		25,735		-		25,735		-
Asset-backed securities		9		9		-		-
Corporate debt securities		4,774		4,774		-		-
Equity securities		137		137		-		-
Securities available-for-sale	$	86,034	$	4,920	$	81,114	$	-

			Fair Value Measurements Using
(In thousands)	June 30, 2014		Quoted Prices In Active Markets For Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Assets:
U.S. Government sponsored enterprises	$	10,898	$	-	$	10,898	$	-
State and political subdivisions		1,347		-		1,347		-
Mortgage-backed securities-residential		9,545		-		9,545		-
Mortgage-backed securities-multi-family		29,018		-		29,018		-
Asset-backed securities		13		13		-		-
Corporate debt securities		5,170		5,170		-		-
Equity securities		160		160		-		-
Securities available-for-sale	$	56,151	$	5,343	$	50,808	$	-

Certain investments that are actively traded and have quoted market prices have been classified as Level 1 valuations.  Other available-for-sale investment securities have been valued by reference to prices for similar securities or through model-based techniques in which all significant inputs are observable and, therefore, such valuations have been classified as Level 2.

In addition to disclosures of the fair value of assets on a recurring basis, FASB ASC Topic on “Fair Value Measurement” requires disclosures for assets and liabilities measured at fair value on a nonrecurring basis, such as impaired assets, in the period in which a re-measurement at fair value is performed.  Loans are generally not recorded at fair value on a recurring basis. Periodically, the Company records nonrecurring adjustments to the carrying value of loans based on fair value measurements for partial charge-offs of the uncollectible portions of those loans. Nonrecurring adjustments also include certain impairment amounts for collateral-dependent loans calculated as required by the “Receivables – Loan Impairment” subtopic of the FASB ASC when establishing the allowance for credit losses.  Impaired loans are those loans for which the Company has re-measured impairment generally based on the fair value of the underlying collateral supporting the loan and, as a result, the carrying value of the loan less the calculated valuation amount may not necessarily represent the actual fair value of the loan. Real estate collateral is typically valued using independent appraisals or other indications of value based on recent comparable sales of similar properties or assumptions generally observable in the marketplace and the related nonrecurring fair value measurement adjustments have generally been classified as Level 3. Estimates of fair value used for other collateral supporting commercial loans generally are based on assumptions not observable in the marketplace and therefore such valuations have been classified as Level 3.

			Fair Value Measurements Using
(In thousands)	Fair Value		(Level 1)		(Level 2)		(Level 3)
June 30, 2015
Impaired loans	$	922	$	-	$	-	$	922
Foreclosed real estate		490		-		-		490
June 30, 2014
Impaired loans	$	3,527	$	-	$	-	$	3,527
Foreclosed real estate		382		-		-		382

The following table presents additional quantitative information about assets measured at fair value on a nonrecurring basis and for which Level 3 inputs were utilized to determine fair value:

(Dollars in thousands)	Fair Value		Valuation Technique	Unobservable Input	Range			Weighted Average
June 30, 2015
Impaired loans	$	922	Appraisal of collateral(1)	Appraisal adjustments(2)		0.00%-38.85	%		22.81	%
				Liquidation expenses(3)		0.00%-7.50	%		3.91	%
Foreclosed real estate		490	Appraisal of collateral(1)	Appraisal adjustments(2)		7.41%-54.17	%		24.65	%
				Liquidation expenses(3)		0.42%-10.86	%		6.40	%
June 30, 2014
Impaired loans	$	3,527	Appraisal of collateral(1)	Appraisal adjustments(2)		0.00%-38.85	%		15.26	%
				Liquidation expenses(3)	0.00%-9.22		%	3.82		%
Foreclosed real estate		382	Appraisal of collateral(1)	Appraisal adjustments(2)		9.30%-19.00	%		12.18	%
				Liquidation expenses(3)		6.00%-10.86	%	7.95		%

⁽¹⁾ Fair value is generally determined through independent third-party appraisals of the underlying collateral, which generally includes various Level 3 inputs which are not observable.

⁽²⁾ Appraisals may be adjusted downwards by management for qualitative factors such as economic conditions.  Higher downward adjustments are caused by negative changes to the collateral or conditions in the real estate market, actual offers or sales contracts received or age of the appraisal.

⁽³⁾ Appraisals may be adjusted downwards by management for items such as the estimated costs to liquidate the collateral.

At June 30, 2015, loans subject to nonrecurring fair value measurement had a recorded investment of $1.2 million with related allowances of $277,000.  At June 30, 2014, loans subject to nonrecurring fair value measurement had a recorded investment of $4.2 million with related allowances of $721,000. No other financial assets or liabilities were re-measured during the year on a nonrecurring basis.

The carrying amounts reported in the statements of financial condition for cash and cash equivalents, long term certificate of deposits, accrued interest receivable and accrued interest payable approximate their fair values.  Fair values of securities are based on quoted market prices (Level 1), where available, or matrix pricing (Level 2), which is a mathematical technique, used widely in the industry to value debt securities without relying exclusively on quoted market prices for the specific securities but rather by relying on the securities’ relationship to other benchmark quoted prices.  The carrying amount of Federal Home Loan Bank stock approximates fair value due to its restricted nature.  Fair values for variable rate loans that reprice frequently, with no significant credit risk, are based on carrying value.  Fair value for fixed rate loans are estimated using discounted cash flows and interest rates currently being offered for loans with similar terms to borrowers of similar credit quality.  Fair values disclosed for demand and savings deposits are equal to carrying amounts at the reporting date.  The carrying amounts for variable rate money market deposits approximate fair values at the reporting date.  Fair values for fixed rate certificates of deposit are estimated using discounted cash flows and interest rates currently being offered in the market on similar certificates.  Fair value for Federal Home Loan Bank long term borrowings are estimated using discounted cash flows and interest rates currently being offered on similar borrowings.  The carrying value of short-term Federal Home Loan Bank borrowings approximates its fair value.

The fair value of commitments to extend credit is estimated based on an analysis of the interest rates and fees currently charged to enter into similar transactions, considering the remaining terms of the commitments and the credit-worthiness of the potential borrowers.  At June 30, 2015 and 2014, the estimated fair values of these off-balance sheet financial instruments were immaterial, and are therefore excluded from the table below.

The carrying amounts and estimated fair value of financial instruments are as follows:

(In thousands)	June 30, 2015				Fair Value Measurements Using
	Carrying Amount		Fair Value		(Level 1)		(Level 2)		(Level 3)
Cash and cash equivalents	$	15,538	$	15,538	$	15,538	$	-	$	-
Long term certificate of deposit		1,230		1,230		1,230		-		-
Securities available-for-sale		86,034		86,034		4,920		81,114		-
Securities held-to-maturity		169,000		171,976		-		171,976		-
Federal Home Loan Bank stock		2,494		2,494		-		2,494		-
Net loans receivable		443,496		450,437		-		-		450,437
Accrued interest receivable		3,026		3,026		-		3,026		-
Deposits		622,717		622,900		-		622,900		-
Borrowings from Federal Home Loan Bank		41,700		41,598		-		41,598		-
Accrued interest payable		64		64		-		64		-

(In thousands)	June 30, 2014				Fair Value Measurements Using
	Carrying Amount		Fair Value		(Level 1)		(Level 2)		(Level 3)
Cash and cash equivalents	$	13,809	$	13,809	$	13,809	$	-	$	-
Long term certificate of deposit		250		250		250		-		-
Securities available-for-sale		56,151		56,151		5,343		50,808		-
Securities held-to-maturity		181,946		181,932		-		181,932		-
Federal Home Loan Bank stock		1,561		1,561		-		1,561		-
Net loans receivable		399,309		406,718		-		-		406,718
Accrued interest receivable		2,710		2,710		-		2,710		-
Deposits		589,574		589,681		-		589,681		-
Borrowings from Federal Home Loan Bank		17,650		17,465		-		17,465		-
Accrued interest payable		66		66		-		66		-

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Loans, Major Loan Segments and Classes (Details) - USD ($) $ in Thousands	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2013
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total gross loans	$ 450,755	$ 405,841
Allowance for loan losses	(8,142)	(7,419)	$ (7,040)
Deferred fees and costs	883	887
Net loans receivable	443,496	399,309
Residential Real Estate [Member] | Residential Real Estate [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total gross loans	226,648	227,373
Allowance for loan losses	(2,454)	(2,731)	(2,627)
Residential Real Estate [Member] | Construction and Land [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total gross loans	3,621	3,005
Allowance for loan losses	(50)	(42)	(37)
Residential Real Estate [Member] | Multi-family [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total gross loans	4,287	4,059
Allowance for loan losses	(40)	(59)	(139)
Commercial Real Estate [Member] | Real Estate [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total gross loans	142,323	114,066
Allowance for loan losses	(3,699)	(2,936)	(2,476)
Commercial Real Estate [Member] | Construction [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total gross loans	8,936	1,558
Allowance for loan losses	(233)	(38)	(392)
Consumer Loan [Member] | Home Equity [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total gross loans	21,019	20,578
Allowance for loan losses	(314)	(361)	(275)
Consumer Loan [Member] | Consumer Installment [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total gross loans	4,123	4,208
Allowance for loan losses	(223)	(240)	(222)
Commercial Loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total gross loans	39,798	30,994
Allowance for loan losses	$ (1,129)	$ (811)	$ (809)

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Fair Value Measurements and Fair Value of Financial Instruments (Tables)

12 Months Ended

Jun. 30, 2015

Fair Value Measurements and Fair Value of Financial Instruments [Abstract]

Fair Value, Assets Measured on Recurring Basis

For assets measured at fair value on a recurring basis, the fair value measurements by level within the fair value hierarchy used are as follows:

			Fair Value Measurements Using
(In thousands)	June 30, 2015		Quoted Prices In Active Markets For Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Assets:
U.S. Government sponsored enterprises	$	7,855	$	-	$	7,855	$	-
State and political subdivisions		39,582		-		39,582		-
Mortgage-backed securities-residential		7,942		-		7,942		-
Mortgage-backed securities-multi-family		25,735		-		25,735		-
Asset-backed securities		9		9		-		-
Corporate debt securities		4,774		4,774		-		-
Equity securities		137		137		-		-
Securities available-for-sale	$	86,034	$	4,920	$	81,114	$	-

			Fair Value Measurements Using
(In thousands)	June 30, 2014		Quoted Prices In Active Markets For Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Assets:
U.S. Government sponsored enterprises	$	10,898	$	-	$	10,898	$	-
State and political subdivisions		1,347		-		1,347		-
Mortgage-backed securities-residential		9,545		-		9,545		-
Mortgage-backed securities-multi-family		29,018		-		29,018		-
Asset-backed securities		13		13		-		-
Corporate debt securities		5,170		5,170		-		-
Equity securities		160		160		-		-
Securities available-for-sale	$	56,151	$	5,343	$	50,808	$	-

Fair Value, Assets and Liabilities Measured on Nonrecurring Basis

			Fair Value Measurements Using
(In thousands)	Fair Value		(Level 1)		(Level 2)		(Level 3)
June 30, 2015
Impaired loans	$	922	$	-	$	-	$	922
Foreclosed real estate		490		-		-		490
June 30, 2014
Impaired loans	$	3,527	$	-	$	-	$	3,527
Foreclosed real estate		382		-		-		382

Fair Value Inputs, Assets, Quantitative Information

The following table presents additional quantitative information about assets measured at fair value on a nonrecurring basis and for which Level 3 inputs were utilized to determine fair value:

(Dollars in thousands)	Fair Value		Valuation Technique	Unobservable Input	Range			Weighted Average
June 30, 2015
Impaired loans	$	922	Appraisal of collateral(1)	Appraisal adjustments(2)		0.00%-38.85	%		22.81	%
				Liquidation expenses(3)		0.00%-7.50	%		3.91	%
Foreclosed real estate		490	Appraisal of collateral(1)	Appraisal adjustments(2)		7.41%-54.17	%		24.65	%
				Liquidation expenses(3)		0.42%-10.86	%		6.40	%
June 30, 2014
Impaired loans	$	3,527	Appraisal of collateral(1)	Appraisal adjustments(2)		0.00%-38.85	%		15.26	%
				Liquidation expenses(3)	0.00%-9.22		%	3.82		%
Foreclosed real estate		382	Appraisal of collateral(1)	Appraisal adjustments(2)		9.30%-19.00	%		12.18	%
				Liquidation expenses(3)		6.00%-10.86	%	7.95		%

⁽¹⁾ Fair value is generally determined through independent third-party appraisals of the underlying collateral, which generally includes various Level 3 inputs which are not observable.

⁽²⁾ Appraisals may be adjusted downwards by management for qualitative factors such as economic conditions.  Higher downward adjustments are caused by negative changes to the collateral or conditions in the real estate market, actual offers or sales contracts received or age of the appraisal.

⁽³⁾ Appraisals may be adjusted downwards by management for items such as the estimated costs to liquidate the collateral.

Carrying Amounts and Estimated Fair Value

The carrying amounts and estimated fair value of financial instruments are as follows:

(In thousands)	June 30, 2015				Fair Value Measurements Using
	Carrying Amount		Fair Value		(Level 1)		(Level 2)		(Level 3)
Cash and cash equivalents	$	15,538	$	15,538	$	15,538	$	-	$	-
Long term certificate of deposit		1,230		1,230		1,230		-		-
Securities available-for-sale		86,034		86,034		4,920		81,114		-
Securities held-to-maturity		169,000		171,976		-		171,976		-
Federal Home Loan Bank stock		2,494		2,494		-		2,494		-
Net loans receivable		443,496		450,437		-		-		450,437
Accrued interest receivable		3,026		3,026		-		3,026		-
Deposits		622,717		622,900		-		622,900		-
Borrowings from Federal Home Loan Bank		41,700		41,598		-		41,598		-
Accrued interest payable		64		64		-		64		-

(In thousands)	June 30, 2014				Fair Value Measurements Using
	Carrying Amount		Fair Value		(Level 1)		(Level 2)		(Level 3)
Cash and cash equivalents	$	13,809	$	13,809	$	13,809	$	-	$	-
Long term certificate of deposit		250		250		250		-		-
Securities available-for-sale		56,151		56,151		5,343		50,808		-
Securities held-to-maturity		181,946		181,932		-		181,932		-
Federal Home Loan Bank stock		1,561		1,561		-		1,561		-
Net loans receivable		399,309		406,718		-		-		406,718
Accrued interest receivable		2,710		2,710		-		2,710		-
Deposits		589,574		589,681		-		589,681		-
Borrowings from Federal Home Loan Bank		17,650		17,465		-		17,465		-
Accrued interest payable		66		66		-		66		-

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Earnings Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Earnings Per Share [Abstract]
Net Income	$ 7,189	$ 6,528
Weighted Average Number of Shares Outstanding, Basic (in shares)	4,218,671	4,205,945
Weighted Average Number of Shares Outstanding Effect of dilutive stock options (in shares)	30,016	35,311
Weighted Average Number of Shares Outstanding, Diluted (in shares)	4,248,687	4,241,256
Earnings per Share, Basic (in dollars per share)	$ 1.70	$ 1.55
Earnings per Share, Effect of dilutive stock options (in dollars per share)	(0.01)	(0.01)
Earnings per Share, Diluted (in dollars per share)	$ 1.69	$ 1.54

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Stock-Based Compensation (Tables)

12 Months Ended

Jun. 30, 2015

Stock-Based Compensation [Abstract]

Summary of Stock Option Activity

A summary of the Company’s stock option activity and related information for its option plans for the years ended June 30, 2015 and 2014 is as follows:

	2015					2014
	Options			Weighted Average Exercise Price Per Share		Options			Weighted Average Exercise Price Per Share
Outstanding at beginning of year		59,435		$	12.50		87,400		$	12.50
Exercised		(11,600	)	$	12.50		(27,965	)	$	12.50
Outstanding at year end		47,835		$	12.50		59,435		$	12.50
Exercisable at year end		47,835		$	12.50		59,435		$	12.50

Schedule of Options Outstanding and Exercisable

The following table presents stock options outstanding and exercisable at June 30, 2015:

Options Outstanding and Exercisable
Range of Exercise Prices	Number Outstanding		Weighted Average Remaining Contractual Life		Weighted Average Exercise Price
$12.50		47,835		3.25	$	12.50

Summary of Phantom Stock Options Activity

A summary of the Company’s phantom stock option activity and related information for its option plan for the years ended June 30, 2015 and 2014 is as follows:

	2015			2014
Number of options outstanding at beginning of year		665,426			462,464
Options granted		235,380			236,308
Options forfeited		--			(6,840	)
Options paid in cash upon vesting		(272,052	)		(26,506	)
Number of options outstanding at period end		628,754			665,426

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Loans, Delinquent and Nonaccrual Loans by Past Due Status (Details) - USD ($)	12 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total past due	$ 4,330,000	$ 8,027,000
Current	446,425,000	397,814,000
Total Loans	450,755,000	405,841,000
Loans on Non-accrual	$ 4,608,000	5,899,000
Foreclosure period	2 years
Loans in the process of foreclosure	$ 1,200,000	3,000,000
Nonaccrual loans with recent history of delinquency greater than 90 days	2,600,000	922,000
Nonaccrual loans making payments pursuant to forbearance agreements	276,000
Financing receivable, recorded investment, 90 days past due and still accruing	84,000	266,000
30 to 59 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total past due	1,869,000	1,867,000
60 to 89 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total past due	336,000	917,000
90 days or More Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total past due	2,125,000	5,243,000
Residential Real Estate [Member] | Residential Real Estate [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total past due	2,347,000	3,275,000
Current	224,301,000	224,098,000
Total Loans	226,648,000	227,373,000
Loans on Non-accrual	1,087,000	2,473,000
Residential Real Estate [Member] | Residential Real Estate [Member] | 30 to 59 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total past due	1,233,000	1,047,000
Residential Real Estate [Member] | Residential Real Estate [Member] | 60 to 89 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total past due	329,000	290,000
Residential Real Estate [Member] | Residential Real Estate [Member] | 90 days or More Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total past due	785,000	1,938,000
Residential Real Estate [Member] | Construction and Land [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total past due	28,000	0
Current	3,593,000	3,005,000
Total Loans	3,621,000	3,005,000
Loans on Non-accrual	0	0
Residential Real Estate [Member] | Construction and Land [Member] | 30 to 59 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total past due	28,000	0
Residential Real Estate [Member] | Construction and Land [Member] | 60 to 89 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total past due	0	0
Residential Real Estate [Member] | Construction and Land [Member] | 90 days or More Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total past due	0	0
Residential Real Estate [Member] | Multi-family [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total past due	0	0
Current	4,287,000	4,059,000
Total Loans	4,287,000	4,059,000
Loans on Non-accrual	0	0
Residential Real Estate [Member] | Multi-family [Member] | 30 to 59 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total past due	0	0
Residential Real Estate [Member] | Multi-family [Member] | 60 to 89 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total past due	0	0
Residential Real Estate [Member] | Multi-family [Member] | 90 days or More Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total past due	0	0
Commercial Real Estate [Member] | Real Estate Mortgage [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total past due	1,472,000	3,192,000
Current	140,851,000	110,874,000
Total Loans	142,323,000	114,066,000
Loans on Non-accrual	2,964,000	2,775,000
Commercial Real Estate [Member] | Real Estate Mortgage [Member] | 30 to 59 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total past due	339,000	0
Commercial Real Estate [Member] | Real Estate Mortgage [Member] | 60 to 89 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total past due	1,000	504,000
Commercial Real Estate [Member] | Real Estate Mortgage [Member] | 90 days or More Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total past due	1,132,000	2,688,000
Commercial Real Estate [Member] | Construction [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total past due	0	0
Current	8,936,000	1,558,000
Total Loans	8,936,000	1,558,000
Loans on Non-accrual	0	0
Commercial Real Estate [Member] | Construction [Member] | 30 to 59 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total past due	0	0
Commercial Real Estate [Member] | Construction [Member] | 60 to 89 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total past due	0	0
Commercial Real Estate [Member] | Construction [Member] | 90 days or More Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total past due	0	0
Consumer Loan [Member] | Home Equity [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total past due	277,000	599,000
Current	20,742,000	19,979,000
Total Loans	21,019,000	20,578,000
Loans on Non-accrual	169,000	339,000
Consumer Loan [Member] | Home Equity [Member] | 30 to 59 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total past due	244,000	260,000
Consumer Loan [Member] | Home Equity [Member] | 60 to 89 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total past due	0	0
Consumer Loan [Member] | Home Equity [Member] | 90 days or More Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total past due	33,000	339,000
Consumer Loan [Member] | Consumer Installment [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total past due	31,000	51,000
Current	4,092,000	4,157,000
Total Loans	4,123,000	4,208,000
Loans on Non-accrual	0	0
Consumer Loan [Member] | Consumer Installment [Member] | 30 to 59 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total past due	25,000	51,000
Consumer Loan [Member] | Consumer Installment [Member] | 60 to 89 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total past due	6,000	0
Consumer Loan [Member] | Consumer Installment [Member] | 90 days or More Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total past due	0	0
Commercial Loans [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total past due	175,000	910,000
Current	39,623,000	30,084,000
Total Loans	39,798,000	30,994,000
Loans on Non-accrual	388,000	312,000
Commercial Loans [Member] | 30 to 59 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total past due	0	509,000
Commercial Loans [Member] | 60 to 89 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total past due	0	123,000
Commercial Loans [Member] | 90 days or More Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total past due	$ 175,000	$ 278,000

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Employee Benefit Plans, Schedule of Amounts Recognized in Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands		12 Months Ended
		Jun. 30, 2015	Jun. 30, 2014
Employee Benefit Plans [Abstract]
Actuarial loss on plan assets and benefit obligations		$ 418	$ 96
Deferred tax benefit		162	37
Net change in plan assets and benefit obligations recognized in other comprehensive income (loss)	[1]	$ 256	$ 59

[1] These accumulated other comprehensive income components are included in the computation of net periodic benefit cost and are included in salaries and employee benefit expense within noninterest expense (see Note 9 for additional details).

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Borrowings (Details) - USD ($) $ in Millions	12 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Federal Home Loan Bank, Advances, Branch of FHLB Bank [Line Items]
Available-for-sale securities pledged as collateral	$ 4.8	$ 5.2
Federal Home Loan Bank of New York [Member]
Federal Home Loan Bank, Advances, Branch of FHLB Bank [Line Items]
Loans pledged as collateral	207.5
Maximum amount of funding available	167.7
Line of credit facility [Abstract]
Amount outstanding	41.7
Atlantic Central Bankers' Bank [Member]
Line of credit facility [Abstract]
Maximum borrowing capacity	6.0
Amount outstanding	0.0	0.0
Other Financial Institution [Member]
Line of credit facility [Abstract]
Maximum borrowing capacity	5.0
Amount outstanding	$ 0.0	$ 0.0
Fixed Rate Term Borrowing [Member] | Federal Home Loan Bank of New York [Member]
Federal Home Loan Bank, Advances, Branch of FHLB Bank [Line Items]
Weighted average interest rate (in hundredths)	1.48%
Weighted average maturity	40 months
Maturity Overnight [Member] | Federal Home Loan Bank of New York [Member]
Line of credit facility [Abstract]
Amount outstanding	$ 22.9
Maturity Overnight [Member] | Federal Reserve Bank [Member]
Federal Home Loan Bank, Advances, Branch of FHLB Bank [Line Items]
Available-for-sale securities pledged as collateral	4.8
Standby Letters of Credit [Member] | Federal Home Loan Bank of New York [Member]
Line of credit facility [Abstract]
Amount outstanding	$ 0.0

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Securities, Unrealized Gain (Loss) on Investments (Details) - USD ($) $ in Thousands	Jun. 30, 2015	Jun. 30, 2014
Available-for-sale debt securities [Abstract]
Amortized cost	$ 84,824	$ 55,411
Gross unrealized gains	1,139	950
Gross unrealized losses	66	370
Estimated fair value	85,897	55,991
Available-for-sale equity securities and other [Abstract]
Amortized cost	62	62
Gross unrealized gains	75	98
Gross unrealized losses	0	0
Estimated fair value	137	160
Available-for-sale securities [Abstract]
Amortized cost	84,886	55,473
Gross unrealized gains	1,214	1,048
Gross unrealized losses	66	370
Estimated fair value	86,034	56,151
Held-to-maturity securities [Abstract]
Amortized cost	169,000	181,946
Gross unrealized gains	3,895	2,697
Gross unrealized losses	919	2,711
Estimated fair value	171,976	181,932
Total Securities [Abstract]
Amortized cost	253,886	237,419
Gross unrealized gains	5,109	3,745
Gross unrealized losses	985	3,081
Estimated fair value	258,010	238,083
U.S. Government Sponsored Enterprises [Member]
Available-for-sale debt securities [Abstract]
Amortized cost	7,608	10,648
Gross unrealized gains	247	250
Gross unrealized losses	0	0
Estimated fair value	7,855	10,898
State and Political Subdivisions [Member]
Available-for-sale debt securities [Abstract]
Amortized cost	39,574	1,324
Gross unrealized gains	9	23
Gross unrealized losses	1	0
Estimated fair value	39,582	1,347
Mortgage-backed Securities-Residential [Member]
Available-for-sale debt securities [Abstract]
Amortized cost	7,797	9,345
Gross unrealized gains	155	213
Gross unrealized losses	10	13
Estimated fair value	7,942	9,545
Mortgage-backed Securities-Multi-Family [Member]
Available-for-sale debt securities [Abstract]
Amortized cost	25,291	29,268
Gross unrealized gains	486	89
Gross unrealized losses	42	339
Estimated fair value	25,735	29,018
Asset-Backed Securities [Member]
Available-for-sale debt securities [Abstract]
Amortized cost	10	15
Gross unrealized gains	0	0
Gross unrealized losses	1	2
Estimated fair value	9	13
Corporate Debt Securities [Member]
Available-for-sale debt securities [Abstract]
Amortized cost	4,544	4,811
Gross unrealized gains	242	375
Gross unrealized losses	12	16
Estimated fair value	4,774	5,170
U.S. Government Sponsored Enterprises [Member]
Held-to-maturity securities [Abstract]
Amortized cost	2,000	2,000
Gross unrealized gains	0	0
Gross unrealized losses	49	102
Estimated fair value	1,951	1,898
State and Political Subdivisions [Member]
Held-to-maturity securities [Abstract]
Amortized cost	81,501	91,634
Gross unrealized gains	2,137	787
Gross unrealized losses	187	204
Estimated fair value	83,451	92,217
Mortgage-backed Securities-Residential [Member]
Held-to-maturity securities [Abstract]
Amortized cost	17,468	22,785
Gross unrealized gains	768	1,150
Gross unrealized losses	0	0
Estimated fair value	18,236	23,935
Mortgage-backed Securities-Multi-Family [Member]
Held-to-maturity securities [Abstract]
Amortized cost	67,239	64,605
Gross unrealized gains	990	759
Gross unrealized losses	665	2,381
Estimated fair value	67,564	62,983
Other Securities [Member]
Held-to-maturity securities [Abstract]
Amortized cost	792	922
Gross unrealized gains	0	1
Gross unrealized losses	18	24
Estimated fair value	$ 774	$ 899

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Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Cash flows from operating activities:
Net income	$ 7,189	$ 6,528
Adjustments to reconcile net income to net cash provided by operating activities
Depreciation	545	617
Deferred income tax expense	488	18
Net amortization of premiums and discounts	1,145	1,815
Net amortization of deferred loan costs and fees	369	340
Provision for loan losses	1,556	1,500
Loss on sale of foreclosed real estate	136	57
Excess tax benefit from stock-based compensation	(16)	(27)
Net increase (decrease) in accrued income taxes	1,703	(682)
Net increase in accrued interest receivable	(316)	(47)
Net increase in prepaid expenses and other assets	(819)	(88)
Net increase in other liabilities	818	1,354
Net cash provided by operating activities	12,798	11,385
Securities available-for-sale:
Proceeds from maturities	6,672	2,515
Purchases of securities	(41,682)	(7,341)
Principal payments on securities	5,241	5,862
Securities held-to-maturity:
Proceeds from maturities	30,993	29,069
Purchases of securities	(26,840)	(31,610)
Principal payments on securities	8,363	7,363
Net purchase of Federal Home Loan Bank Stock	(933)	(173)
Purchase of long term certificate of deposit	(980)	0
Net increase in loans receivable	(47,466)	(42,388)
Proceeds from sale of foreclosed real estate	844	431
Purchases of premises and equipment	(753)	(575)
Net cash used in investing activities	(66,541)	(36,847)
Cash flows from financing activities:
Net decrease in short-term FHLB advances	19,750	(7,450)
Proceeds from long-term FHLB advances	4,300	10,500
Payment of cash dividends	(1,798)	(1,335)
Proceeds from issuance of stock options	61	172
Excess tax benefit from stock-based compensation	16	27
Net increase in deposits	33,143	31,135
Net cash provided by financing activities	55,472	33,049
Net increase in cash and cash equivalents	1,729	7,587
Cash and cash equivalents at beginning of year	13,809	6,222
Cash and cash equivalents at end of year	15,538	13,809
Non-cash investing activities:
Foreclosed loans transferred to other real estate	1,354	665
Securities transferred from available-for-sale to held-to-maturity	0	11,735
Cash paid during period for:
Interest	2,304	2,376
Income taxes	$ 127	$ 3,201

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Borrowings, Scheduled Maturities of Long-term Borrowings (Details) $ in Thousands	Jun. 30, 2015 USD ($)
Scheduled maturities of long-term borrowings [Abstract]
2016	$ 0
2017	2,500
2018	4,500
2019	5,500
2020	6,000
Due after 2020	300
Federal Home Loan Bank, Advances, Total	$ 18,800

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Regulatory Matters (Tables)

12 Months Ended

Jun. 30, 2015

Regulatory Matters [Abstract]

Schedule of Compliance with Regulatory Capital Requirements under Banking Regulations

(Dollars in thousands)	Actual					For Capital Adequacy Purposes					To Be Well Capitalized Under Prompt Corrective Action Provisions
The Bank of Greene County	Amount		Ratio			Amount		Ratio			Amount		Ratio
As of June 30, 2015:
Total risk-based capital	$	71,572		17.9	%	$	32,082		8.0	%	$	40,102		10.0	%
Tier 1 risk-based capital		66,487		16.6			24,061		6.0			32,082		8.0
Common equity tier 1 capital		66,487		16.6			18,046		4.5			26,066		6.5
Tier 1 leverage ratio		66,487		9.1			29,256		4.0			36,571		5.0
As of June 30, 2014:
Total risk-based capital	$	63,918		18.5	%	$	27,600		8.0	%	$	34,499		10.0	%
Tier 1 risk-based capital		59,523		17.3			13,800		4.0			20,700		6.0
Tier 1 leverage ratio		59,523		8.8			20,257		3.0			33,761		5.0
Greene County Commercial Bank
As of June 30, 2015:
Total risk-based capital	$	19,853		45.04	%	$	3,526		8.0	%	$	4,408		10.0	%
Tier 1 risk-based capital		19,853		45.04			2,645		6.0			3,526		8.0
Common equity tier 1 capital		19,853		45.04			1,984		4.5			2,865		6.5
Tier 1 leverage ratio		19,853		9.03			8,796		4.0			10,995		5.0
As of June 30, 2014:
Total risk-based capital	$	17,211		40.6	%	$	3,388		8.0	%	$	4,236		10.0	%
Tier 1 risk-based capital		17,211		40.6			1,694		4.0			2,541		6.0
Tier 1 leverage ratio		17,211		8.2			8,369		4.0			10,461		5.0

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Summary of Significant Accounting Policies (Policies)

12 Months Ended

Jun. 30, 2015

Summary of Significant Accounting Policies [Abstract]

Basis of Presentation

Basis of Presentation

The consolidated financial statements include the accounts of Greene County Bancorp, Inc. (the “Company”) and its subsidiaries, The Bank of Greene County (the “Bank”) and Greene Risk Management, Inc., and the Bank’s subsidiaries Greene County Commercial Bank and Greene Property Holdings, Ltd.  All material inter-company accounts and transactions have been eliminated.  Amounts in the prior year’s consolidated financial statements have been reclassified whenever necessary to conform to the current year’s presentation. These reclassifications had no effect on net income or shareholders’ equity as previously reported.  The accompanying consolidated financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (“GAAP”).  These consolidated financial statements consider events that occurred through the date the consolidated financial statements were issued.

Nature of Operations

Nature of Operations

Greene County Bancorp, Inc.’s primary business is the ownership and operation of its subsidiaries.  The Bank of Greene County has 13 full-service offices and an operations center located in its market area consisting of the Hudson Valley of New York.  The Bank of Greene County is primarily engaged in the business of attracting deposits from the general public in The Bank of Greene County’s market area, and investing such deposits, together with other sources of funds, in loans and investment securities.  Greene County Commercial Bank’s primary business is to attract deposits from, and provide banking services to, local municipalities.  Greene Property Holdings, Ltd. was formed as a New York corporation that has elected under the Internal Revenue Code to be a real estate investment trust.  Currently, certain mortgages and notes held by The Bank of Greene County are transferred and beneficially owned by Greene Property Holdings, Ltd.  The Bank of Greene County continues to service these loans.  Greene Risk Management, Inc. was formed in December 2014 as a pooled captive insurance company subsidiary of Greene County Bancorp, Inc., incorporated in the State of Nevada.  The purpose of this company is to provide additional insurance coverage for the Company and its subsidiaries related to the operations of the Company for which insurance may not be economically feasible.

Charter

Charter

Greene County Bancorp, Inc. and its parent mutual holding company (the “MHC”) are federally chartered and regulated and examined by the Federal Reserve Board.  The Bank of Greene County, the subsidiary of Greene County Bancorp, Inc., is also federally chartered and regulated and examined by the Office of the Comptroller of the Currency (the “OCC”).

Greene County Commercial Bank is a New York State-chartered financial institution, regulated and examined by the New York State Banking Department.  Greene Property Holdings, Ltd. is a New York corporation.

As a federally chartered savings bank, The Bank of Greene County must maintain at least 65% of its “portfolio assets” (total assets minus goodwill and other intangible assets, office property and specified liquid investments up to 20% of total assets) in certain “qualified thrift investments” (primarily loans to purchase, refinance, construct, improve or repair domestic residential housing, home equity loans, securities backed by or representing an interest in mortgages on domestic residential housing, and Federal Home Loan Bank stock) in at least 9 months out of every 12 month period.  A savings institution that fails the qualified thrift lender test is subject to certain operating restrictions and may be required to convert to a bank charter.  At June 30, 2015 and 2014 and for the years then ended, The Bank of Greene County satisfied the requirement of the qualified thrift lender test.

Use of Estimates

Use of Estimates

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 loan losses and the assessment of other-than-temporary security impairment.

While management uses available information to recognize losses on loans, future additions to the allowance for loan losses (the “Allowance”) may be necessary, based on changes in economic conditions, asset quality or other factors.  In addition, various regulatory authorities, as an integral part of their examination process, periodically review the Allowance.  Such authorities may require the Company to recognize additions to the Allowance based on their judgments of information available to them at the time of their examination.

Greene County Bancorp, Inc. makes an assessment to determine whether there have been any events or economic circumstances to indicate that a security on which there is an unrealized loss is impaired on an other-than-temporary basis.  The Company considers many factors including the severity and duration of the impairment; the intent and ability of the Company to hold the security for a period of time sufficient for a recovery in value; recent events specific to the issuer or industry; and for debt securities, intent to sell the security, whether it is more likely than not we will be required to sell the security before recovery, whether loss is expected, external credit ratings and recent downgrades.  Securities on which there is an unrealized loss that is deemed to be other-than-temporary are written down to fair value through earnings.

Cash and Cash Equivalents

Cash and Cash Equivalents

Cash and cash equivalents include cash on hand, amounts due from banks, interest-bearing deposits at other financial institutions, investments (with original maturity of three months or less), and overnight federal funds sold.  The amounts of interest-bearing deposits included as cash equivalents at June 30, 2015 and 2014 were $7.0 million and $4.8 million, respectively.

Securities

Securities

Greene County Bancorp, Inc. has classified its investments in debt and equity securities as either available-for-sale or held-to-maturity.  Available-for-sale securities are reported at fair value, with net unrealized gains and losses reflected in the accumulated other comprehensive income component of shareholders’ equity, net of applicable income taxes.  Held-to-maturity securities are those debt securities which management has the intent and the Company has the ability to hold to maturity and are reported at amortized cost.  The Company does not have trading securities in its portfolio.

Realized gains or losses on security transactions are reported in earnings and computed using the specific identification cost basis.  Fair values of securities are based on quoted market prices, where available.  Valuation of securities is further described in Note 16.  Amortization of bond premiums and accretion of bond discounts are amortized over the expected life of the securities using the interest method.

When the fair value of a held-to-maturity or available-for-sale security is less than its amortized cost basis, an assessment is made as to whether other-than-temporary impairment (“OTTI”) is present.  The Company considers numerous factors when determining whether a potential OTTI exists and the period over which the debt security is expected to recover.  The principal factors considered are (1) the length of time and the extent to which the fair value has been less than the amortized cost basis, (2) the financial condition of the issuer (and guarantor, if any) and adverse conditions specifically related to the security, industry or geographic area, (3) failure of the issuer of the security to make scheduled interest or principal payments, (4) any changes to the rating of the security by a rating agency, and (5) the presence of credit enhancements, if any, including the guarantee of the federal government or any of its agencies.

For debt securities, OTTI is considered to have occurred if (1) the Company intends to sell the security before recovery of its amortized cost basis, (2) it is more likely than not the Company will be required to sell the security before recovery of its amortized cost basis, or (3) if the present value of expected cash flows is not sufficient to recover the entire amortized cost basis.  In determining the present value of expected cash flows, the Company discounts the expected cash flows at the effective interest rate implicit in the security at the date of acquisition.  In estimating cash flows expected to be collected, the Company uses available information with respect to security prepayment speeds, default rates and severity.  In determining whether OTTI has occurred for equity securities, the Company considers the applicable factors described above and the intent and ability of the Company to retain its investment in the issuer for a period of time sufficient to allow for any anticipated recovery in fair value.

For debt securities, credit-related OTTI is recognized in earnings while noncredit related OTTI on securities not expected to be sold is recognized in other comprehensive income/loss (“OCI”).  Credit-related OTTI is measured as the difference between the present value of an impaired security’s expected cash flows and its amortized cost basis.  Noncredit-related OTTI is measured as the difference between the fair value of the security and its amortized cost less any credit-related losses recognized.  For securities classified as held-to-maturity, the amount of OTTI recognized in OCI is accreted to the credit-adjusted expected cash flow amounts of the securities over future periods.  For equity securities, the entire amount of OTTI is recognized in earnings.

Loans

Loans

Loans are stated at unpaid principal balances, less the allowance for loan losses and net deferred loan origination fees and costs.  Interest on loans is accrued and credited to income based upon the principal amount outstanding.  Unearned discount on installment loans is recognized as income over the term of the loan, principally using a method that approximates the effective yield method.  Nonrefundable loan fees and related direct costs are deferred and amortized over the life of the loan as an adjustment to loan yield using the effective interest method.

Allowance for Loan Losses

Allowance for Loan Losses

The allowance for loan losses is maintained by a provision for loan losses charged to expense, reduced by net charge-offs and increased by recoveries of loans previously charged off.  The level of the allowance is based on management’s evaluation of the collectability of the loan portfolio, including the nature of the portfolio, credit concentrations, trends in historical loss experience, specific impaired loans, payment status of the loan and economic conditions.  The Bank of Greene County considers smaller balance residential mortgages, home equity loans, commercial real estate, business loans and installment loans to customers as small, homogeneous loans, which are evaluated for impairment collectively based on historical loss experience.  Larger balance residential, commercial real estate mortgage and business loans are reviewed individually and considered impaired if it is probable that The Bank of Greene County will not be able to collect scheduled payments of principal and interest when due, according to the contractual terms of the loan agreements.  The measurement of impaired loans is generally based on the fair value of the underlying collateral, less estimated costs to sell.  The majority of The Bank of Greene County loans, including most nonaccrual loans, are small homogenous loan types adequately supported by collateral.  As a result, the level of impaired loans may only be a portion of nonaccrual loans.  Loans that are delinquent or slow paying may not be impaired.  Management considers the payment status of loans in the process of evaluating the adequacy of the allowance for loan losses among other factors.  Loans that are either delinquent a minimum of 60 days or are on nonaccrual status, and are not individually considered impaired, are either designated as Special Mention or Substandard, and the allocation of the allowance for loan loss is based upon the risk associated with such designation.

Income Recognition on Impaired and Nonaccrual loans

Income Recognition on Impaired and Nonaccrual loans

The Bank of Greene County generally places a loan, including impaired loans, on nonaccrual status when it is specifically determined to be impaired or when principal and interest is delinquent for 90 days or more.  Any unpaid interest previously accrued on these loans is reversed from income.  When a loan is specifically determined to be impaired, collection of interest and principal are generally applied as a reduction to principal outstanding until the collection of the remaining balance is reasonably assured.  Interest income on all nonaccrual loans is recognized on a cash basis.

Foreclosed Real Estate (FRE)

Foreclosed Real Estate (FRE)

FRE consists of properties acquired through mortgage loan foreclosure proceedings or in full or partial satisfaction of loans.  FRE is initially recorded at fair value (less estimated costs to sell) at the date the collateral is acquired establishing a new cost basis and any shortfall is charged to the allowance for loan losses at this time.  Subsequently, management reviews the value of FRE and write-downs, if any, are charged to expense.  All expenses and income related to FRE are included in consolidated results of operations as part of noninterest expense.

Premises and Equipment

Premises and Equipment

Premises and equipment are stated at cost less accumulated depreciation.  Depreciation is computed using principally the straight-line method over the estimated useful lives of the related assets (39 years for building and improvements, 3-8 years for furniture and equipment).  Maintenance and repairs are typically charged to expense when incurred.  Gains and losses from sales or other dispositions of premises and equipment are included in consolidated results of operations.  Leasehold improvements are amortized over the lesser of the related terms of the leases or their useful life.

Treasury Stock

Treasury Stock

Common stock repurchases are recorded at cost and then held as treasury stock.  From time to time, Greene County Bancorp, Inc. may repurchase shares of common stock under an approved plan if, in its judgment, such shares are an attractive investment, in view of the current price at which the common stock is trading relative to Greene County Bancorp, Inc.’s earnings per share, book value per share and general market and economic factors.  The Company has a stock repurchase program which allows for the repurchase of  up to 92,346 shares. As of June 30, 2015, 62,478 shares had been repurchased under this plan.  There were no shares repurchased during fiscal 2015 or 2014.  The Company currently does not intend to repurchase any additional shares under this stock repurchase program. Common stock may also be acquired in order to have shares available for issuance under the Stock Option Plans.  See Note 10 to the consolidated financial statements, Stock-Based Compensation, for more information regarding these plans.  No repurchases of stock were made during the year ended June 30, 2015 or 2014.

Federal Home Loan Bank Stock

Federal Home Loan Bank Stock

Federal law requires a member institution of the Federal Home Loan Bank (“FHLB”) system to hold stock of its district FHLB according to a predetermined formula.  This stock is restricted in that it can only be sold to the FHLB or to another member institution, and all sales of FHLB stock must be at par.  As a result of these restrictions, FHLB stock is carried at cost.  FHLB stock is held as a long-term investment and its value is determined based on the ultimate recoverability of the par value.  Impairment of this investment is evaluated quarterly and is a matter of judgment that reflects management’s view of the FHLB’s long-term performance, which includes factors such as the following: its operating performance; the severity and duration of declines in the fair value of its net assets related to its capital stock amount; its commitment to make payments required by law or regulation and the level of such payments in relation to its operating performance; the impact of legislative and regulatory changes on the FHLB, and accordingly, on the members of the FHLB; and its liquidity and funding position.  After evaluating these considerations, Greene County Bancorp, Inc. concluded that the par value of its investment in FHLB stock will be recovered and, therefore, no other-than-temporary impairment charge was recorded during the years ended June 30, 2015 or 2014.

Advertising

Advertising

Greene County Bancorp, Inc. follows a policy of charging the costs of advertising to expense as incurred.  Advertising costs included in other operating expenses were $294,000 and $278,000 for the years ended June 30, 2015 and 2014, respectively.

Transfers of Financial Assets

Transfers of Financial Assets

Transfers of financial assets are accounted for as sales when control over the assets has been surrendered.  Control over transferred assets is deemed to be surrendered when (1) the assets have been isolated from the Company, (2) the transferee obtains the right (free of conditions that constrain it from taking advantage of the right) to pledge or exchange the transferred assets, and (3) the Company does not maintain effective control over the transferred assets through an agreement to repurchase them before their maturity.

Off-Balance Sheet Credit Related Financial Instruments

Off-Balance Sheet Credit Related Financial Instruments

In the ordinary course of business, the Company has entered into commitments to extend credit, including commitments under lines of credit.  Such financial instruments are recorded when they are funded.

Income Taxes

Income Taxes

Provisions for income taxes are based on taxes currently payable or refundable and deferred income taxes on temporary differences between the tax basis of assets and liabilities and their reported amounts in the consolidated financial statements.  Deferred tax assets and liabilities are reported at currently enacted income tax rates applicable to the period in which the deferred tax assets and liabilities are expected to be realized or settled.

Earnings Per Share (EPS)

Earnings Per Share (EPS)

Basic EPS is computed by dividing net income by the weighted average number of common shares outstanding during the period.  Diluted earnings per share is computed in a manner similar to that of basic earnings per share except that the weighted-average number of common shares outstanding is increased to include the number of incremental common shares that would have been outstanding under the treasury stock method if all potentially dilutive common shares (such as stock options) issued became vested during the period.  Unallocated common shares held by the ESOP are not included in the weighted-average number of common shares outstanding for either the basic or diluted earnings per share calculations.

Impact of Recent Accounting Pronouncements

Impact of Recent Accounting Pronouncements

In January 2014, the Financial Accounting Standards Board (“FASB”) issued an amendment (ASU 2014-04) to its guidance on “Receivables – Troubled Debt Restructurings by Creditors (Subtopic 310-40): Reclassification of Residential Real Estate Collateralized Consumer Mortgage Loans upon Foreclosure”.  This Update has been issued to clarify when an in substance repossession or foreclosure occurs, that is, when a creditor should be considered to have received physical possession of residential real estate property collateralizing a consumer mortgage loan such that the loan receivable should be derecognized and the real estate property recognized. An entity can elect to adopt the amendments in this Update using either a modified retrospective transition method or a prospective transition method. The amendments in this Update are effective for public business entities for annual periods, and interim periods within those annual periods, beginning after December 15, 2014. Early adoption is permitted.  The adoption of these amendments is not expected to have an effect on our consolidated results of operations or financial position.

In May 2014, the FASB issued and amendment (ASU 2014-09) to is guidance on “Revenue from Contracts with Customers (Topic 606).  The objective of the ASU is to align the recognition of revenue with the transfer of promised goods or services provided to customers in an amount that reflects the consideration which the entity expects to be entitled in exchange for those goods or services.  This ASU will replace most existing revenue recognition guidance under GAAP when it becomes effective.  The amendments in this ASU are effective for public business entities for annual periods, beginning after December 15, 2016.  The Company has not yet determined the effect of the standard on its ongoing financial reporting.

In August 2014, the FASB issued an amendment (ASU 2014-14) to its guidance on “Receivables – Troubled Debt Restructurings by Creditors (Subtopic 310-40)”.  The objective of the ASU is to reduce the diversity in how creditors classify government-guaranteed mortgage loans, including FHA or VA guaranteed loans, upon foreclosure, to provide more decision-useful information about a creditor’s foreclosed mortgage loans that are expected to be recovered, at least in part, through government guarantees.  The amendments in this Update are effective for public business entities for annual periods, and interim periods within those annual periods, beginning after December 15, 2017. Public entities would be permitted to elect to early adopt for annual reporting periods beginning after December 15, 2016.  The adoption of this guidance is not expected to have a material impact on our consolidated results of operations or financial position.

In January 2015, the FASB issued an Update (ASU 2015-01) to its guidance on “Income Statement-Extraordinary and Unusual Items (Subtopic 225-20)”.  The objective of the ASU is to simplify the income statement presentation by eliminating the concept of extraordinary items, and will align GAAP more closely with International Accounting Standards which prohibits the presentation and disclosure of extraordinary items.  The amendments in this Update are effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2015. The adoption of this guidance is not expected to have a material impact on our consolidated results of operations or financial position.

In May 2015, the FASB issued an Update (ASU 2015-09) to its guidance on “Financial Services-Insurance (Topic 944): Disclosures about Short-Duration Contracts”.  The objective of the ASU is to improve the transparency of significant estimates made in measuring liabilities related to short-duration insurance contracts, improve comparability by requiring consistent disclosure of information, and provide financial statement users with additional information to facilitate analysis of the amount, timing, and uncertainty of cash flows arising from contracts issued by insurance entities and the development of loss reserve estimates.  For public business entities, the amendments in this Update are effective for annual periods beginning after December 15, 2015, and interim periods within annual periods beginning after December 15, 2016.  The Company has not yet determined the effect of the standard on its ongoing financial reporting.

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Subsequent events

12 Months Ended

Jun. 30, 2015

Subsequent events [Abstract]

Subsequent events

Note 19.  Subsequent events

On July 21, 2015, the Board of Directors declared a cash dividend for the quarter ended June 30, 2015 of $0.185 per share on Greene County Bancorp, Inc.’s common stock.  The dividend reflects an annual cash dividend rate of $0.74 per share, compared to an annual cash dividend rate of $0.72 declared during the previous quarter.  The dividend was payable to stockholders of record as of August 14, 2015, and was paid on August 31, 2015.  The MHC has waived its right to receive dividends declared on its shares of the Company’s common stock for the quarter ended June 30, 2015.

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Loans, Activity and Allocation of Allowance for Loan Losses (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Financing Receivable, Allowance for Credit Losses [Line Items]
Allowance for Loan Losses, Beginning Balance	$ 7,419	$ 7,040
Charge-offs	928	1,217
Recoveries	95	96
Provision	1,556	1,500
Allowance for Loan Losses, Ending Balance	8,142	7,419
Allowance for loan losses: Ending balance: individually evaluated for impairment	451	869
Allowance for loan losses: Ending balance: collectively evaluated for impairment	7,691	6,550
Loans receivables: Ending balance: individually evaluated for impairment	4,191	6,838
Loans Receivable: Ending balance: collectively evaluated for impairment	446,564	399,003
Residential Real Estate [Member] | Residential Real Estate [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Allowance for Loan Losses, Beginning Balance	2,731	2,627
Charge-offs	390	420
Recoveries	6	10
Provision	107	514
Allowance for Loan Losses, Ending Balance	2,454	2,731
Allowance for loan losses: Ending balance: individually evaluated for impairment	263	441
Allowance for loan losses: Ending balance: collectively evaluated for impairment	2,191	2,290
Loans receivables: Ending balance: individually evaluated for impairment	1,843	2,906
Loans Receivable: Ending balance: collectively evaluated for impairment	224,805	224,467
Residential Real Estate [Member] | Construction and Land [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Allowance for Loan Losses, Beginning Balance	42	37
Charge-offs	0	0
Recoveries	0	0
Provision	8	5
Allowance for Loan Losses, Ending Balance	50	42
Allowance for loan losses: Ending balance: individually evaluated for impairment	0	0
Allowance for loan losses: Ending balance: collectively evaluated for impairment	50	42
Loans receivables: Ending balance: individually evaluated for impairment	0	0
Loans Receivable: Ending balance: collectively evaluated for impairment	3,621	3,005
Residential Real Estate [Member] | Multi-family [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Allowance for Loan Losses, Beginning Balance	59	139
Charge-offs	0	24
Recoveries	0	7
Provision	(19)	(63)
Allowance for Loan Losses, Ending Balance	40	59
Allowance for loan losses: Ending balance: individually evaluated for impairment	0	0
Allowance for loan losses: Ending balance: collectively evaluated for impairment	40	59
Loans receivables: Ending balance: individually evaluated for impairment	0	0
Loans Receivable: Ending balance: collectively evaluated for impairment	4,287	4,059
Commercial Real Estate [Member] | Real Estate Mortgage [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Allowance for Loan Losses, Beginning Balance	2,936	2,476
Charge-offs	133	309
Recoveries	0	0
Provision	896	769
Allowance for Loan Losses, Ending Balance	3,699	2,936
Allowance for loan losses: Ending balance: individually evaluated for impairment	187	338
Allowance for loan losses: Ending balance: collectively evaluated for impairment	3,512	2,598
Loans receivables: Ending balance: individually evaluated for impairment	2,101	3,033
Loans Receivable: Ending balance: collectively evaluated for impairment	140,222	111,033
Commercial Real Estate [Member] | Construction [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Allowance for Loan Losses, Beginning Balance	38	392
Charge-offs	0	0
Recoveries	0	0
Provision	195	(354)
Allowance for Loan Losses, Ending Balance	233	38
Allowance for loan losses: Ending balance: individually evaluated for impairment	0	0
Allowance for loan losses: Ending balance: collectively evaluated for impairment	233	38
Loans receivables: Ending balance: individually evaluated for impairment	0	0
Loans Receivable: Ending balance: collectively evaluated for impairment	8,936	1,558
Consumer Loan [Member] | Home Equity [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Allowance for Loan Losses, Beginning Balance	361	275
Charge-offs	121	44
Recoveries	0	0
Provision	74	130
Allowance for Loan Losses, Ending Balance	314	361
Allowance for loan losses: Ending balance: individually evaluated for impairment	0	87
Allowance for loan losses: Ending balance: collectively evaluated for impairment	314	274
Loans receivables: Ending balance: individually evaluated for impairment	154	296
Loans Receivable: Ending balance: collectively evaluated for impairment	20,865	20,282
Consumer Loan [Member] | Consumer Installment [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Allowance for Loan Losses, Beginning Balance	240	222
Charge-offs	236	215
Recoveries	61	75
Provision	158	158
Allowance for Loan Losses, Ending Balance	223	240
Allowance for loan losses: Ending balance: individually evaluated for impairment	0	0
Allowance for loan losses: Ending balance: collectively evaluated for impairment	223	240
Loans receivables: Ending balance: individually evaluated for impairment	0	0
Loans Receivable: Ending balance: collectively evaluated for impairment	4,123	4,208
Commercial Loans [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Allowance for Loan Losses, Beginning Balance	811	809
Charge-offs	48	205
Recoveries	28	4
Provision	338	203
Allowance for Loan Losses, Ending Balance	1,129	811
Allowance for loan losses: Ending balance: individually evaluated for impairment	1	3
Allowance for loan losses: Ending balance: collectively evaluated for impairment	1,128	808
Loans receivables: Ending balance: individually evaluated for impairment	93	603
Loans Receivable: Ending balance: collectively evaluated for impairment	39,705	30,391
Unallocated [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Allowance for Loan Losses, Beginning Balance	201	63
Charge-offs	0	0
Recoveries	0	0
Provision	(201)	138
Allowance for Loan Losses, Ending Balance	0	201
Allowance for loan losses: Ending balance: individually evaluated for impairment	0	0
Allowance for loan losses: Ending balance: collectively evaluated for impairment	0	201
Loans receivables: Ending balance: individually evaluated for impairment	0	0
Loans Receivable: Ending balance: collectively evaluated for impairment	$ 0	$ 0

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Condensed Financial Statements of Greene County Bancorp, Inc. (Tables)

12 Months Ended

Jun. 30, 2015

Condensed Financial Statements of Greene County Bancorp, Inc. [Abstract]

Condensed Balance Sheet

Greene County Bancorp, Inc.

Condensed Statements of Financial Condition

As of June 30, 2015 and 2014

(In thousands)

ASSETS	2015		2014
Cash and cash equivalents	$	544	$	2,817
Investment in subsidiaries		66,412		58,419
Prepaid expenses and other assets		21		16
Total assets	$	66,977	$	61,252
LIABILITIES AND SHAREHOLDERS’ EQUITY
Total liabilities	$	57	$	52
Total shareholders’ equity		66,920		61,200
Total liabilities and shareholders’ equity	$	66,977	$	61,252

Condensed Income Statement

Greene County Bancorp, Inc.

Condensed Statements of Income

For the Years Ended June 30, 2015 and 2014

(In thousands)

	2015		2014
INCOME:
Equity in undistributed net income of subsidiaries	$	7,491	$	4,682
Dividend distributed by subsidiary		4		2,004
Interest-earning deposits		5		7
Total income		7,500		6,693
OPERATING EXPENSES:
Legal fees		201		62
Other		110		103
Total operating expenses		311		165
Net income	$	7,189	$	6,528

Condensed Comprehensive Income Statement

Greene County Bancorp, Inc.

Condensed Statements of Comprehensive Income

For the Years Ended June 30, 2015 and 2014

(In thousands)

	2015			2014
Net income	$	7,189		$	6,528
Other comprehensive income (loss) :
Unrealized holding gains (losses) on available-for-sale securities, net of income taxes of $182 and ($327), respectively		288			(518	)
Accretion of unrealized loss on securities transferred to held-to-maturity, net of income taxes of $139 and $175, respectively(1)		220			277
Pension actuarial loss, net of income taxes of ($162) and ($37)(2)		(256	)		(59	)
Total other comprehensive income (loss), net of taxes		252			(300	)
Comprehensive income	$	7,441		$	6,228

⁽¹⁾ The accretion of the unrealized holding losses in accumulated other comprehensive income at the date of transfer partially offsets the amortization of the difference between the par value and fair value of the investment securities at the date of transfer, and is an adjustment of interest income.

⁽²⁾ These accumulated other comprehensive income components are included in the computation of net periodic benefit cost and are included in salaries and employee benefit expense within noninterest expense (see Note 9 for additional details).

Condensed Cash Flow Statement

Greene County Bancorp, Inc.

Condensed Statements of Cash Flows

For the Years Ended June 30, 2015 and 2014

(In thousands)

Cash flow from operating activities:	2015			2014
Net Income	$	7,189		$	6,528
Adjustments to reconcile net income to cash provided by (used by) operating activities:
Undistributed earnings of subsidiaries		(7,491	)		(4,682	)
Tax benefit of stock based compensation		(16	)		(28	)
Net increase in prepaid expenses and other assets		(5	)		-
Net increase in total liabilities		21			20
Net cash provided by (used by) operating activities		(302	)		1,838
Cash flows from Investing Activities:
Investment in subsidiary		(250	)		-
Net cash used by investing activities		(250	)		-
Cash flows from financing activities:
Payment of cash dividends		(1,798	)		(1,335	)
Proceeds from exercise of stock options		61			172
Excess tax benefit from share-based payment arrangements		16			28
Net cash used in financing activities		(1,721	)		(1,135	)
Net (decrease) increase in cash and cash equivalents		(2,273	)		703
Cash and cash equivalents at beginning of year		2,817			2,114
Cash and cash equivalents at end of year	$	544		$	2,817

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Securities (Tables)

12 Months Ended

Jun. 30, 2015

Securities [Abstract]

Unrealized Gain (Loss) on Investments

Securities at June 30, 2015 consisted of the following:

(In thousands)	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Estimated Fair Value
Securities available-for-sale:
U.S. government sponsored enterprises	$	7,608	$	247	$	-	$	7,855
State and political subdivisions		39,574		9		1		39,582
Mortgage-backed securities-residential		7,797		155		10		7,942
Mortgage-backed securities-multi-family		25,291		486		42		25,735
Asset-backed securities		10		-		1		9
Corporate debt securities		4,544		242		12		4,774
Total debt securities		84,824		1,139		66		85,897
Equity securities and other		62		75		-		137
Total securities available-for-sale		84,886		1,214		66		86,034
Securities held-to-maturity:
U.S. government sponsored enterprises		2,000		-		49		1,951
State and political subdivisions		81,501		2,137		187		83,451
Mortgage-backed securities-residential		17,468		768		-		18,236
Mortgage-backed securities-multi-family		67,239		990		665		67,564
Other securities		792		-		18		774
Total securities held-to-maturity		169,000		3,895		919		171,976
Total securities	$	253,886	$	5,109	$	985	$	258,010

Securities at June 30, 2014 consisted of the following:

(In thousands)	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Estimated Fair Value
Securities available-for-sale:
U.S. government sponsored enterprises	$	10,648	$	250	$	-	$	10,898
State and political subdivisions		1,324		23		-		1,347
Mortgage-backed securities-residential		9,345		213		13		9,545
Mortgage-backed securities-multi-family		29,268		89		339		29,018
Asset-backed securities		15		-		2		13
Corporate debt securities		4,811		375		16		5,170
Total debt securities		55,411		950		370		55,991
Equity securities and other		62		98		-		160
Total securities available-for-sale		55,473		1,048		370		56,151
Securities held-to-maturity:
U.S. government sponsored enterprises		2,000		-		102		1,898
State and political subdivisions		91,634		787		204		92,217
Mortgage-backed securities-residential		22,785		1,150		-		23,935
Mortgage-backed securities-multi-family		64,605		759		2,381		62,983
Other securities		922		1		24		899
Total securities held-to-maturity		181,946		2,697		2,711		181,932
Total securities	$	237,419	$	3,745	$	3,081	$	238,083

Continuous Unrealized Loss Position, Fair Value

The following table shows fair value and gross unrealized losses, aggregated by security category and length of time that individual securities have been in a continuous unrealized loss position, at June 30, 2015.

	Less Than 12 Months						More Than 12 Months						Total
(In thousands, except number of securities)	Fair Value		Unrealized Losses		Number of Securities		Fair Value		Unrealized Losses		Number of Securities		Fair Value		Unrealized Losses		Number of Securities
Securities available-for-sale:
State and political subdivisions	$	799	$	1		1	$	-	$	-	-		$	799	$	1		1
Mortgage-backed securities-residential		-		-		-		1,630		10		1		1,630		10		1
Mortgage-backed securities-multi-family		2,023		26		1		753		16		1		2,776		42		2
Asset-backed securities		-		-		-		9		1		1		9		1		1
Corporate debt securities		273		2		1		491		10		2		764		12		3
Total securities available-for-sale		3,095		29		3		2,883		37		5		5,978		66		8
Securities held-to-maturity:
U.S. government sponsored enterprises		-		-		-		1,951		49		1		1,951		49		1
State and political subdivisions		11,171		143		49		1,221		44		9		12,392		187		58
Mortgage-backed securities-multi-family		14,464		100		4		28,187		565		6		42,651		665		10
Other securities		334		11		1		202		7		1		536		18		2
Total securities held-to-maturity		25,969		254		54		31,561		665		17		57,530		919		71
Total securities	$	29,064	$	283		57	$	34,444	$	702		22	$	63,508	$	985		79

The following table shows fair value and gross unrealized losses, aggregated by security category and length of time that individual securities have been in a continuous unrealized loss position, at June 30, 2014.

	Less Than 12 Months						More Than 12 Months						Total
(In thousands, except number of securities)	Fair Value		Unrealized Losses		Number of Securities		Fair Value		Unrealized Losses		Number of Securities		Fair Value		Unrealized Losses		Number of Securities
Securities available-for-sale:
Mortgage-backed securities-residential	$	4,302	$	13		2	$	-	$	-		-	$	4,302	$	13		2
Mortgage-backed securities-multi-family		4,448		5		3		19,404		334		7		23,852		339		10
Asset-backed securities		-		-		-		13		2		1		13		2		1
Corporate debt securities		767		16		2		-		-		-		767		16		2
Total securities available-for-sale		9,517		34		7		19,417		336		8		28,934		370		15
Securities held-to-maturity:
U.S. government sponsored enterprises		1,898		102		1		-		-		-		1,898		102		1
State and political subdivisions		6,693		175		34		1,815		29		11		8,508		204		45
Mortgage-backed securities-multi-family		26,522		1,617		7		15,440		764		6		41,962		2,381		13
Other securities		130		2		2		401		22		2		531		24		4
Total securities held-to-maturity		35,243		1,896		44		17,656		815		19		52,899		2,711		63
Total securities	$	44,760	$	1,930		51	$	37,073	$	1,151		27	$	81,833	$	3,081		78

Investments Classified by Contractual Maturity Date

The estimated fair values of debt securities at June 30, 2015, by contractual maturity are shown below.  Expected maturities may differ from contractual maturities, because issuers may have the right to call or prepay obligations with or without call or prepayment penalties.

(In thousands)

Available-for-sale debt securities	Amortized Cost		Fair Value
Within one year	$	41,951	$	41,972
After one year through five years		9,235		9,669
After five years through ten years		540		570
After ten years		-		-
Total available-for-sale debt securities		51,726		52,211
Mortgage-backed and asset-backed securities		33,098		33,686
Equity securities		62		137
Total available-for-sale securities		84,886		86,034
Held-to-maturity debt securities
Within one year		12,371		12,554
After one year through five years		44,217		45,172
After five years through ten years		20,044		20,497
After ten years		7,661		7,953
Total held-to-maturity debt securities		84,293		86,176
Mortgage-backed		84,707		85,800
Total held-to-maturity securities		169,000		171,976
Total securities	$	253,886	$	258,010

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Loans (Tables)

12 Months Ended

Jun. 30, 2015

Loans [Abstract]

Major Loan Segments and Classes

Loan segments and classes at June 30, 2015 and 2014 are summarized as follows:

	At June 30,
(In thousands)	2015			2014
Residential real estate:
Residential real estate	$	226,648		$	227,373
Residential construction and land		3,621			3,005
Multi-family		4,287			4,059
Commercial real estate:
Commercial real estate		142,323			114,066
Commercial construction		8,936			1,558
Consumer loan:
Home equity		21,019			20,578
Consumer installment		4,123			4,208
Commercial loans		39,798			30,994
Total gross loans		450,755			405,841
Allowance for loan losses		(8,142	)		(7,419	)
Deferred fees and costs		883			887
Loans receivable, net	$	443,496		$	399,309

Loan Balances by Internal Credit Quality Indicator

Loan balances by internal credit quality indicator as of June 30, 2015 are shown below.

(In thousands)	Performing		Watch		Special Mention		Substandard		Total
Residential real estate	$	224,195	$	638	$	97	$	1,718	$	226,648
Residential construction and land		3,621		-		-		-		3,621
Multi-family		4,182		-		-		105		4,287
Commercial real estate		138,468		-		986		2,869		142,323
Commercial construction		8,936		-		-		-		8,936
Home equity		20,731		-		15		273		21,019
Consumer installment		4,117		6		-		-		4,123
Commercial loans		38,334		-		844		620		39,798
Total gross loans	$	442,584	$	644	$	1,942	$	5,585	$	450,755

Loan balances by internal credit quality indicator as of June 30, 2014 are shown below.

(In thousands)	Performing		Watch		Special Mention		Substandard		Total
Residential real estate	$	223,772	$	221	$	99	$	3,281	$	227,373
Residential construction and land		3,005		-		-		-		3,005
Multi-family		3,946		-		-		113		4,059
Commercial real estate		109,281		-		1,789		2,996		114,066
Commercial construction		1,558		-		-		-		1,558
Home equity		20,239		-		-		339		20,578
Consumer installment		4,208		-		-		-		4,208
Commercial loans		29,686		-		385		923		30,994
Total gross loans	$	395,695	$	221	$	2,273	$	7,652	$	405,841

Delinquent and Nonaccrual Loans By Past Due Status

The following table sets forth information regarding delinquent and/or nonaccrual loans as of June 30, 2015:

(In thousands)	30-59 days past due		60-89 days past due		90 days or more past due		Total past due		Current		Total Loans		Loans on Non- accrual
Residential real estate	$	1,233	$	329	$	785	$	2,347	$	224,301	$	226,648	$	1,087
Residential construction and land		28		-		-		28		3,593		3,621		-
Multi-family		-		-		-		-		4,287		4,287		-
Commercial real estate		339		1		1,132		1,472		140,851		142,323		2,964
Commercial construction		-		-		-		-		8,936		8,936		-
Home equity		244		-		33		277		20,742		21,019		169
Consumer installment		25		6		-		31		4,092		4,123		-
Commercial loans		-		-		175		175		39,623		39,798		388
Total gross loans	$	1,869	$	336	$	2,125	$	4,330	$	446,425	$	450,755	$	4,608

The following table sets forth information regarding delinquent and/or nonaccrual loans as of June 30, 2014:

(In thousands)	30-59 days past due		60-89 days past due		90 days or more past due		Total past due		Current		Total Loans		Loans on Non- accrual
Residential real estate	$	1,047	$	290	$	1,938	$	3,275	$	224,098	$	227,373	$	2,473
Residential construction and land		-		-		-		-		3,005		3,005		-
Multi-family		-		-		-		-		4,059		4,059		-
Commercial real estate		-		504		2,688		3,192		110,874		114,066		2,775
Commercial construction		-		-		-		-		1,558		1,558		-
Home equity		260		-		339		599		19,979		20,578		339
Consumer installment		51		-		-		51		4,157		4,208		-
Commercial loans		509		123		278		910		30,084		30,994		312
Total gross loans	$	1,867	$	917	$	5,243	$	8,027	$	397,814	$	405,841	$	5,899

Nonaccrual Loans, Interest Income Data

The table below details additional information related to nonaccrual loans:

	For the years ended June 30,
(In thousands)	2015		2014
Interest income that would have been recorded if loans had been performing in accordance with original terms	$	340	$	352
Interest income that was recorded on nonaccrual loans		250		128

Impaired Loans By Loan Portfolio Class

The tables below detail additional information on impaired loans at the date or periods indicated:

	As of June 30, 2015						For the year ended June 30, 2015
(In thousands)	Recorded Investment		Unpaid Principal		Related Allowance		Average Recorded Investment		Interest Income Recognized
With no related allowance recorded:
Residential real estate	$	432	$	432	$	-	$	508	$	27
Commercial real estate		1,206		1,412		-		1,000		45
Home equity		154		154		-		70		1
Commercial loans		-		-		-		208		14
Total impaired loans with no allowance		1,792		1,998		-		1,786		87
With an allowance recorded:
Residential real estate		1,411		1,411		263		2,176		80
Commercial real estate		895		895		187		1,675		61
Home equity		-		-		-		154		-
Commercial loans		93		93		1		348		23
Total impaired loans with allowance		2,399		2,399		451		4,353		164
Total impaired loans:
Residential real estate		1,843		1,843		263		2,684		107
Commercial real estate		2,101		2,307		187		2,675		106
Home equity		154		154		-		224		1
Commercial loans		93		93		1		556		37
Total impaired loans	$	4,191	$	4,397	$	451	$	6,139	$	251

	As of June 30, 2014						For the year ended June 30, 2014
(In thousands)	Recorded Investment		Unpaid Principal		Related Allowance		Average Recorded Investment		Interest Income Recognized
With no related allowance recorded:
Residential real estate	$	206	$	206	$	-	$	330	$	14
Commercial real estate		461		461		-		518		29
Home equity		96		96		-		24		3
Total impaired loans with no allowance		763		763		-		872		46
With an allowance recorded:
Residential real estate		2,700		2,790		441		2,978		64
Multi-family		-		-		-		193		-
Commercial real estate		2,572		2,959		338		2,346		63
Commercial construction		-		-		-		350		17
Home equity		200		200		87		150		-
Commercial loans		603		603		3		606		39
Total impaired loans with allowance		6,075		6,552		869		6,623		183
Total impaired loans
Residential real estate		2,906		2,996		441		3,308		78
Multi-family		-		-		-		193		-
Commercial real estate		3,033		3,420		338		2,864		92
Commercial construction		-		-		-		350		17
Home equity		296		296		87		174		3
Commercial loans		603		603		3		606		39
Total impaired loans	$	6,838	$	7,315	$	869	$	7,495	$	229

Troubled Debt Restructurings on Financing Receivables

The table below details loans that have been modified as a troubled debt restructuring during the year ended June 30, 2015.

(Dollars in thousands)	Number of Contracts		Pre-Modification Outstanding Recorded Investment		Post-Modification Outstanding Recorded Investment		Current Outstanding Recorded Investment
Residential real estate		1	$	164	$	184	$	183

The table below details loans that have been modified as a troubled debt restructuring during the year ended June 30, 2014.

(Dollars in thousands)	Number of Contracts		Pre-Modification Outstanding Recorded Investment		Post-Modification Outstanding Recorded Investment		Current Outstanding Recorded Investment
Residential real estate		3	$	575	$	575	$	566
Commercial real estate		5		1,789		1,848		1,589

Troubled Debt Restructurings, Subsequently Defaulted

The table below details loans that have been modified as troubled debt restructurings during the twelve months prior to June 30, 2014 which have subsequently defaulted during the year ended June 30, 2014:

(Dollars in thousands)	Number of Contracts		Recorded Investment		Allowance for Loan Loss
Residential real estate		2	$	284	$	65
Commercial real estate		2		894		192

Activity and Allocation of Allowance For Loan Losses

The following tables set forth the activity and allocation of the allowance for loan losses by loan class during and at the periods indicated.  The allowance is allocated to each loan class based on historical loss experience, current economic conditions, and other considerations.

	Activity for the year ended June 30, 2015
(In thousands)	Balance June 30, 2014		Charge-offs		Recoveries		Provision			Balance June 30, 2015
Residential real estate	$	2,731	$	390	$	6	$	107		$	2,454
Residential construction and land		42		-		-		8			50
Multi-family		59		-		-		(19	)		40
Commercial real estate		2,936		133		-		896			3,699
Commercial construction		38		-		-		195			233
Home equity		361		121		-		74			314
Consumer installment		240		236		61		158			223
Commercial loans		811		48		28		338			1,129
Unallocated		201		-		-		(201	)		-
Total	$	7,419	$	928	$	95	$	1,556		$	8,142

	Allowance for Loan Losses				Loans Receivable
	Ending Balance June 30, 2015 Impairment Analysis				Ending Balance June 30, 2015 Impairment Analysis
(In thousands)	Individually Evaluated		Collectively Evaluated		Individually Evaluated		Collectively Evaluated
Residential real estate	$	263	$	2,191	$	1,843	$	224,805
Residential construction and land		-		50		-		3,621
Multi-family		-		40		-		4,287
Commercial real estate		187		3,512		2,101		140,222
Commercial construction		-		233		-		8,936
Home equity		-		314		154		20,865
Consumer installment		-		223		-		4,123
Commercial loans		1		1,128		93		39,705
Unallocated		-		-		-		-
Total	$	451	$	7,691	$	4,191	$	446,564

	Activity for the year ended June 30, 2014
(In thousands)	Balance June 30, 2013		Charge-offs		Recoveries		Provision			Balance June 30, 2014
Residential real estate	$	2,627	$	420	$	10	$	514		$	2,731
Residential construction and land		37		-		-		5			42
Multi-family		139		24		7		(63	)		59
Commercial real estate		2,476		309		-		769			2,936
Commercial construction		392		-		-		(354	)		38
Home equity		275		44		-		130			361
Consumer installment		222		215		75		158			240
Commercial loans		809		205		4		203			811
Unallocated		63		-		-		138			201
Total	$	7,040	$	1,217	$	96	$	1,500		$	7,419

	Allowance for Loan Losses				Loans Receivable
	Ending Balance June 30, 2014 Impairment Analysis				Ending Balance June 30, 2014 Impairment Analysis
(In thousands)	Individually Evaluated		Collectively Evaluated		Individually Evaluated		Collectively Evaluated
Residential real estate	$	441	$	2,290	$	2,906	$	224,467
Residential construction and land		-		42		-		3,005
Multi-family		-		59		-		4,059
Commercial real estate		338		2,598		3,033		111,033
Commercial construction		-		38		-		1,558
Home equity		87		274		296		20,282
Consumer installment		-		240		-		4,208
Commercial loans		3		808		603		30,391
Unallocated		-		201		-		-
Total	$	869	$	6,550	$	6,838	$	399,003

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Consolidated Statements of Changes in Shareholders' Equity (Parenthetical) - $ / shares	12 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Consolidated Statements of Changes in Shareholders' Equity [Abstract]
Dividends declared (in dollars per share)	$ 0.72	$ 0.70
Ownership percentage (in hundredths)	54.60%	54.60%

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Premises and Equipment (Tables)

12 Months Ended

Jun. 30, 2015

Premises and Equipment [Abstract]

Summary of Premises and Equipment

A summary of premises and equipment at June 30, 2015 and 2014, is as follows:

(In thousands)	2015			2014
Land	$	2,883		$	2,883
Building and improvements		15,693			15,411
Furniture and equipment		4,042			3,572
Less: accumulated depreciation		(8,103	)		(7,559	)
Total premises and equipment	$	14,515		$	14,307

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Fair Value Measurements and Fair Value of Financial Instruments, Fair Value Inputs, Assets, Quantitative Information (Details) - Nonrecurring [Member] - USD ($)		12 Months Ended
		Jun. 30, 2015	Jun. 30, 2014
Fair value inputs [Abstract]
Loans receivable, fair value disclosure		$ 1,200,000	$ 4,200,000
Loans and Leases Receivable nonrecurring fair value related allowance		277,000	721,000
Impaired Loans [Member]
Fair value inputs assets, quantitative information [Line Items]
Fair value		922,000	3,527,000
Impaired Loans [Member] | Appraisal of Collateral [Member]
Fair value inputs assets, quantitative information [Line Items]
Fair value	[1]	$ 922,000	$ 3,527,000
Impaired Loans [Member] | Appraisal of Collateral [Member] | Minimum [Member]
Fair value inputs [Abstract]
Appraisal adjustments (in hundredths)	[1],[2]	0.00%	0.00%
Liquidation expenses (in hundredths)	[1],[3]	0.00%	0.00%
Impaired Loans [Member] | Appraisal of Collateral [Member] | Maximum [Member]
Fair value inputs [Abstract]
Appraisal adjustments (in hundredths)	[1],[2]	38.85%	38.85%
Liquidation expenses (in hundredths)	[1],[3]	7.50%	9.22%
Impaired Loans [Member] | Appraisal of Collateral [Member] | Weighted Average [Member]
Fair value inputs [Abstract]
Appraisal adjustments (in hundredths)	[1],[2]	22.81%	15.26%
Liquidation expenses (in hundredths)	[1],[3]	3.91%	3.82%
Foreclosed Real Estate [Member]
Fair value inputs assets, quantitative information [Line Items]
Fair value		$ 490,000	$ 382,000
Foreclosed Real Estate [Member] | Appraisal of Collateral [Member]
Fair value inputs assets, quantitative information [Line Items]
Fair value	[1]	$ 490,000	$ 382,000
Foreclosed Real Estate [Member] | Appraisal of Collateral [Member] | Minimum [Member]
Fair value inputs [Abstract]
Appraisal adjustments (in hundredths)	[1],[2]	7.41%	9.30%
Liquidation expenses (in hundredths)	[1],[3]	0.42%	6.00%
Foreclosed Real Estate [Member] | Appraisal of Collateral [Member] | Maximum [Member]
Fair value inputs [Abstract]
Appraisal adjustments (in hundredths)	[1],[2]	54.17%	19.00%
Liquidation expenses (in hundredths)	[1],[3]	10.86%	10.86%
Foreclosed Real Estate [Member] | Appraisal of Collateral [Member] | Weighted Average [Member]
Fair value inputs [Abstract]
Appraisal adjustments (in hundredths)	[1],[2]	24.65%	12.18%
Liquidation expenses (in hundredths)	[1],[3]	6.40%	7.95%

[1] Fair value is generally determined through independent third-party appraisals of the underlying collateral, which generally includes various Level 3 inputs which are not observable.

[2] Appraisals may be adjusted downwards by management for qualitative factors such as economic conditions. Higher downward adjustments are caused by negative changes to the collateral or conditions in the real estate market, actual offers or sales contracts received or age of the appraisal.

[3] Appraisals may be adjusted downwards by management for items such as the estimated costs to liquidate the collateral.

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Commitments and Contingent Liabilities (Tables)

12 Months Ended

Jun. 30, 2015

Commitments and Contingent Liabilities [Abstract]

Unfunded Loan Commitments

The Bank of Greene County’s unfunded loan commitments are as follows at June 30, 2015 and 2014:

(In thousands)	2015		2014
Residential real estate loan commitments	$	5,087	$	2,380
Construction and land loan commitments		5,622		3,138
Commercial real estate loan commitments		15,855		8,757
Home equity available lines of credit		8,295		8,159
Consumer overdraft available lines of credit		698		706
Commercial loan available lines of credit		21,264		14,419
Commercial loan commitments		885		226
Total commitments	$	57,706	$	37,785

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Loans, Nonaccrual Loans, Interest Income Data (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Loans [Abstract]
Interest income that would have been recorded if loans had been performing in accordance with original terms	$ 340	$ 352
Interest income that was recorded on nonaccrual loans	$ 250	$ 128

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Stock-Based Compensation (Details) - USD ($)	12 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Dec. 31, 2008
Stock option activity, weighted average exercise price per share [Abstract]
Options exercises in period, intrinsic value	$ 182,000	$ 378,000
Options granted (in shares)	0	0
Stock Option [Member]
Share-based compensation arrangement by share-based payment award [Line Items]
Award vesting period	3 years
Stock option activity, shares [Roll Forward]
Outstanding at beginning of year (in shares)	59,435	87,400
Exercised (in shares)	(11,600)	(27,965)
Outstanding at year end (in shares)	47,835	59,435
Exercisable at year end (in shares)	47,835	59,435
Stock option activity, weighted average exercise price per share [Abstract]
Outstanding at beginning of year (in dollars per share)	$ 12.50	$ 12.50
Exercised (in dollars per share)	12.50	12.50
Outstanding at year end (in dollars per share)	12.50	12.50
Exercisable at year end (in dollars per share)	$ 12.50	$ 12.50
2008 Stock Option Plan [Member]
Share-based compensation arrangement by share-based payment award [Line Items]
Number of shares authorized under the plan (in shares)	180,000
Options, exercise price (in dollars per share)			$ 12.50
Options, expected term			10 years
Award vesting period			3 years
Stock option activity, weighted average exercise price per share [Abstract]
Employee service share-based compensation, nonvested awards, compensation cost not yet recognized	$ 0	$ 0
Options granted (in shares)			164,500

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Consolidated Statements of Financial Condition - USD ($) $ in Thousands	Jun. 30, 2015	Jun. 30, 2014
ASSETS
Total cash and cash equivalents	$ 15,538	$ 13,809
Long term certificate of deposit	1,230	250
Securities available-for-sale, at fair value	86,034	56,151
Securities held-to-maturity, at amortized cost (fair value $171,976 at June 30, 2015; $181,932 at June 30, 2014)	169,000	181,946
Federal Home Loan Bank stock, at cost	2,494	1,561
Loans	450,755	405,841
Allowance for loan losses	(8,142)	(7,419)
Unearned origination fees and costs, net	883	887
Net loans receivable	443,496	399,309
Premises and equipment	14,515	14,307
Accrued interest receivable	3,026	2,710
Foreclosed real estate	847	473
Prepaid expenses and other assets	2,467	3,645
Total assets	738,647	674,161
LIABILITIES AND SHAREHOLDERS' EQUITY
Noninterest-bearing deposits	73,359	67,446
Interest-bearing deposits	549,358	522,128
Total deposits	622,717	589,574
Borrowings from Federal Home Loan Bank, short-term	22,900	3,150
Borrowings from Federal Home Loan Bank, long-term	18,800	14,500
Accrued expenses and other liabilities	7,310	5,737
Total liabilities	671,727	612,961
SHAREHOLDERS' EQUITY
Preferred stock, Authorized - 1,000,000 shares; Issued - None	0	0
Common stock, par value $.10 per share; Authorized - 12,000,000 shares; Issued - 4,305,670 shares Outstanding 4,222,357 shares at June 30, 2015, and 4,213,757 shares at June 30, 2014	431	431
Additional paid-in capital	11,220	11,208
Retained earnings	56,696	51,305
Accumulated other comprehensive loss	(798)	(1,050)
Treasury stock, at cost 83,313 shares at June 30, 2015, and 91,913 shares at June 30, 2014	(629)	(694)
Total shareholders' equity	66,920	61,200
Total liabilities and shareholders' equity	$ 738,647	$ 674,161

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Summary of Significant Accounting Policies (Details) $ in Thousands	12 Months Ended
	Jun. 30, 2015 USD ($) Office shares	Jun. 30, 2014 USD ($) shares
Summary of Significant Accounting Policies [Abstract]
Number of offices | Office	13
Interest-bearing deposits in banks and other financial institutions | $	$ 7,000	$ 4,800
Allowance for Loan Losses [Abstract]
Period for Delinquent Loan to be Designated as Special Mention or Substandard, Minimum	60 days
Period of delinquency after which a loan is placed on nonaccrual status	90 days
Treasury Stock [Abstract]
Maximum shares authorized for repurchase (in shares)	92,346
Total number of shares repurchased under the plan (in shares)	62,478
Number of shares repurchased during the period (in shares)	0	0
Advertising [Abstract]
Advertising expense | $	$ 294	$ 278
Building and Improvements [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, useful life	39 years
Furniture and Equipment [Member] | Minimum [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, useful life	3 years
Furniture and Equipment [Member] | Maximum [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, useful life	8 years

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Consolidated Statements of Comprehensive Income (Parenthetical) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Other comprehensive income (loss):
Unrealized holding gains (losses) on available-for-sale securities, income taxes	$ 182	$ (327)
Accretion of unrealized loss on securities transferred to held-to-maturity, income taxes	139	175
Pension actuarial gain, income taxes	$ (162)	$ (37)

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Deposits, Schedule of Deposits by Time Remaining on Maturity (Details) - USD ($)	Jun. 30, 2015	Jun. 30, 2014
Deposits [Line Items]
Certificates of deposit less than $100,000	$ 28,250,000
Certificates of deposit $100,000 or more	14,871,000
Total certificates of deposit	43,121,000	$ 48,900,000
Certificates of deposit $250,000 or more	2,793,000
3 Months or Less [Member]
Deposits [Line Items]
Certificates of deposit less than $100,000	6,740,000
Certificates of deposit $100,000 or more	2,635,000
Total certificates of deposit	9,375,000
3 to 6 Months [Member]
Deposits [Line Items]
Certificates of deposit less than $100,000	5,124,000
Certificates of deposit $100,000 or more	949,000
Total certificates of deposit	6,073,000
7 to 12 Months [Member]
Deposits [Line Items]
Certificates of deposit less than $100,000	4,452,000
Certificates of deposit $100,000 or more	1,466,000
Total certificates of deposit	5,918,000
Over 12 Months [Member]
Deposits [Line Items]
Certificates of deposit less than $100,000	11,934,000
Certificates of deposit $100,000 or more	9,821,000
Total certificates of deposit	$ 21,755,000

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Accumulated Other Comprehensive Loss (Tables)

12 Months Ended

Jun. 30, 2015

Accumulated Other Comprehensive Loss [Abstract]

Components of Accumulated Other Comprehensive Loss

The components of accumulated other comprehensive loss as of June 30, 2015 and 2014, respectively, are presented in the following table:

(In thousands)	2015			2014
Unrealized gains on available-for-sale securities, net of tax	$	704		$	416
Unrealized loss on securities transferred to held-to-maturity, net of tax		(11	)		(231	)
Net losses and past service liability for defined benefit plan, net of tax		(1,491	)		(1,235	)
Accumulated other comprehensive loss	$	(798	)	$	(1,050	)

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Employee Benefit Plans, Schedule of Net Periodic Income (Expense) (Details) - USD ($)	12 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Interest cost	$ 220,000	$ 223,000
Accumulated benefit obligation for the pension plan	5,500,000	5,300,000
Effect of changes in mortality assumption on accumulated benefit obligation	468,600
Defined Benefit Plan [Member]
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Interest cost	220,000	223,000
Expected return on plan assets	(335,000)	(318,000)
Amortization of net loss	106,000	89,000
Effect of settlement	144,000	0
Net periodic pension (income) expense	$ 135,000	$ (6,000)

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Commitments and Contingent Liabilities

12 Months Ended

Jun. 30, 2015

Commitments and Contingent Liabilities [Abstract]

Commitments and Contingent Liabilities

Note 13.  Commitments and Contingent Liabilities

In the normal course of business there are various commitments and contingent liabilities outstanding pertaining to the granting of loans and the lines of credit, which are not reflected in the accompanying consolidated financial statements.

The Bank of Greene County’s unfunded loan commitments are as follows at June 30, 2015 and 2014:

(In thousands)	2015		2014
Residential real estate loan commitments	$	5,087	$	2,380
Construction and land loan commitments		5,622		3,138
Commercial real estate loan commitments		15,855		8,757
Home equity available lines of credit		8,295		8,159
Consumer overdraft available lines of credit		698		706
Commercial loan available lines of credit		21,264		14,419
Commercial loan commitments		885		226
Total commitments	$	57,706	$	37,785

Commitments to extend credit in the form of loan commitments and lines of credit are agreements to lend to a customer as long as there is no violation of any condition established in the contract. Commitments generally have fixed expiration dates or other termination clauses and may require payment of a fee. Since many of the commitments are expected to expire without being fully drawn upon, the total commitment amounts do not necessarily represent future cash requirements. The Bank of Greene County evaluates each customer’s credit worthiness on a case-by-case basis.  The amount of collateral, if any, required upon an extension of credit is based on management’s evaluation of customer credit. Commitments to extend mortgage credit are primarily collateralized by first liens on real estate. Collateral on extensions of commercial lines of credit vary but may include accounts receivable, inventory, property, plant and equipment, and income producing commercial property.

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Employee Benefit Plans (Tables)

12 Months Ended

Jun. 30, 2015

Employee Benefit Plans [Abstract]

Change in Fair Value of Plan Assets

Information regarding the single-employer defined benefit pension plan at June 30, 2015 and 2014 is as follows:

(In thousands)
Change in projected benefit obligation:	2015			2014
Benefit obligation at beginning of year	$	5,311		$	4,971
Interest cost		220			223
Actuarial loss		428			297
Benefits paid		(502	)		(180	)
Benefit obligation at June 30		5,457			5,311
Change in fair value of plan assets:
Fair value of plan assets at beginning of year		4,887			4,637
Actual return on plan assets		96			430
Employer contributions		-			-
Benefits paid		(502	)		(180	)
Fair value of plan assets at June 30		4,481			4,887
Underfunded status at June 30 included in other liabilities	$	976		$	424

Schedule of Net Periodic Pension Costs

The components of net periodic pension costs related to the defined benefit pension plan for the years ended June 30, 2015 and 2014 were as follows:

(In thousands)	2015			2014
Interest cost	$	220		$	223
Expected return on plan assets		(335	)		(318	)
Amortization of net loss		106			89
Effect of settlement		144			-
Net periodic pension (income) cost	$	135		$	(6	)

Schedule of Amounts Recognized in Other Comprehensive Income (Loss)

Changes in plan assets and benefit obligations recognized in other comprehensive loss during the years ended June 30, 2015 and 2014 consisted of the following:

(In thousands)	2015		2014
Actuarial loss on plan assets and benefit obligations	$	418	$	96
Deferred tax benefit		162		37
Net change in plan assets and benefit obligations recognized in other comprehensive income (loss)	$	256	$	59

Schedule of Amounts Recognized in Financial Condition

Amounts recognized in our consolidated statements of financial condition related to our pension plan for the years ended June 30, 2015 and 2014 are as follows:

(In thousands)
Other liabilities:	2015			2014
Projected benefit obligation in excess of fair value of pension plan	$	976		$	424
Accumulated other comprehensive loss, net of taxes:
Net losses and past service liability	$	(1,491	)	$	(1,235	)

Schedule of Assumptions Used

The principal actuarial assumptions used were as follows:

Projected benefit obligation:	2015			2014
Discount rate		4.32	%		4.22	%
Net periodic pension expense:
Amortization period, in years		14			15
Discount rate		4.22	%		4.57	%
Expected long-term rate of return on plan assets		7.00	%		7.00	%

Schedule of Allocation of Plan Assets

The weighted average asset allocation and fair value of our funded pension plan at June 30, 2015 and 2014 was as follows:

(Dollars in thousands)	2015				2014
	Fair Value				Fair Value
Money market accounts	$	15	0.3	%	$	15	0.3	%
Mutual funds		4,466	99.7	%		4,872	99.7	%
Total plan assets	$	4,481	100.0	%	$	4,887	100.0	%

Schedule of Expected Benefit Payments

Expected benefit payments under the pension plan over the next ten years at June 30, 2015 are as follows:

(In thousands)
2016	$	184
2017		215
2018		215
2019		215
2020		214
2021-2025		1,184

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Concentrations of Credit Risk

12 Months Ended

Jun. 30, 2015

Concentrations of Credit Risk [Abstract]

Concentrations of Credit Risk

Note 15.  Concentrations of Credit Risk

The Bank of Greene County grants residential, consumer and commercial loans to customers primarily located in the mid-Hudson valley region of New York, including Greene County.  Over the last several years the Company has emphasized expansion into new markets in southern Albany and Columbia counties. In fiscal 2015, it expanded its lending area south into Ulster County. Although The Bank of Greene County has a diversified loan portfolio, a substantial portion of its debtors’ ability to honor their contracts is dependent upon employment and other economic factors throughout Greene and its contiguous counties.

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Employee Benefit Plans, Schedule of Amounts Recognized in Financial Condition (Details) - USD ($) $ in Thousands	Jun. 30, 2015	Jun. 30, 2014
Other liabilities [Abstract]
Projected benefit obligation in excess of fair value of pension plan	$ 976	$ 424
Accumulated other comprehensive loss, net of taxes [Abstract]
Net losses and past service liability	$ (1,491)	$ (1,235)

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Consolidated Statements of Changes in Shareholders' Equity - USD ($) $ in Thousands		Common Stock [Member]	Additional Paid-In Capital [Member]	Retained Earnings [Member]	Accumulated Other Comprehensive Income/(Loss) [Member]	Treasury Stock [Member]	Total
Balance at Jun. 30, 2013		$ 431	$ 11,168	$ 46,112	$ (750)	$ (853)	$ 56,108
Options exercised			13			159	172
Tax benefit of stock based compensation			27				27
Dividends declared	[1]			(1,335)			(1,335)
Net income				6,528			6,528
Other comprehensive income (loss), net of taxes					(300)		(300)
Balance at Jun. 30, 2014		431	11,208	51,305	(1,050)	(694)	61,200
Options exercised			(4)			65	61
Tax benefit of stock based compensation			16				16
Dividends declared	[1]			(1,798)			(1,798)
Net income				7,189			7,189
Other comprehensive income (loss), net of taxes					252		252
Balance at Jun. 30, 2015		$ 431	$ 11,220	$ 56,696	$ (798)	$ (629)	$ 66,920

[1] Dividends declared were $0.72 per share and $0.70 per share for the years ended June 30, 2015 and 2014. This is based on total number of shares outstanding. Greene County Bancorp, MHC, the owner of 54.6% of the Company's shares outstanding waived its right to receive dividends each quarter during the fiscal years ended June 30, 2015 and 2014 with the exception of the quarter ended March 31, 2015. Dividends were paid to the MHC during the quarter ended March 31, 2015 to provide liquidity based on the MHC's cash flow requirements. The MHC's ability to waive the receipt of dividends is dependent upon annual approval of its members as well as receiving the non-objection of the Federal Reserve Board.

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Consolidates Statements of Financial Condition (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2015	Jun. 30, 2014
ASSETS
Securities held-to-maturity, fair value	$ 171,976	$ 181,932
SHAREHOLDERS' EQUITY
Preferred stock, shares authorized (in shares)	1,000,000	1,000,000
Preferred stock, shares issued (in shares)	0	0
Common stock, par value (in dollars per share)	$ 0.10	$ 0.10
Common stock, shares authorized (in shares)	12,000,000	12,000,000
Common stock, shares issued (in shares)	4,305,670	4,305,670
Common stock, shares outstanding (in shares)	4,222,357	4,213,757
Treasury stock, shares (in shares)	83,313	91,913

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Accumulated Other Comprehensive Loss

12 Months Ended

Jun. 30, 2015

Accumulated Other Comprehensive Loss [Abstract]

Accumulated Other Comprehensive (Loss) Income

Note 8.  Accumulated Other Comprehensive Loss

The components of accumulated other comprehensive loss as of June 30, 2015 and 2014, respectively, are presented in the following table:

(In thousands)	2015			2014
Unrealized gains on available-for-sale securities, net of tax	$	704		$	416
Unrealized loss on securities transferred to held-to-maturity, net of tax		(11	)		(231	)
Net losses and past service liability for defined benefit plan, net of tax		(1,491	)		(1,235	)
Accumulated other comprehensive loss	$	(798	)	$	(1,050	)

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Document and Entity Information - USD ($)	12 Months Ended
	Jun. 30, 2015	Sep. 11, 2015	Dec. 31, 2014
Document and Entity Information [Abstract]
Entity Registrant Name	GREENE COUNTY BANCORP INC
Entity Central Index Key	0001070524
Current Fiscal Year End Date	--06-30
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Filer Category	Smaller Reporting Company
Entity Public Float			$ 43,967,000
Entity Common Stock, Shares Outstanding		4,224,457
Document Fiscal Year Focus	2015
Document Fiscal Period Focus	FY
Document Type	10-K/A
Amendment Flag	true
Amendment Description	Greene County Bancorp, Inc. (the “Company”) is filing this Amendment No. 1 (the “Amendment No. 1”) to its Annual Report on Form 10-K for the fiscal year ended June 30, 2015, which was originally filed on September 28, 2015 (the “Original Filing”) for the sole purpose of furnishing Exhibit 101 to the Form 10-K in accordance with Rule 405 of Regulation S-T. Exhibit 101 to Amendment No. 1 provides the consolidated financial statements and related notes from the Form 10-K formatted in XBRL (eXtensible Business Reporting Language). Other than the addition of Exhibit 101, no other changes have been made to the Original Filing.
Document Period End Date	Jun. 30, 2015

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Employee Benefit Plans

12 Months Ended

Jun. 30, 2015

Employee Benefit Plans [Abstract]

Employee Benefit Plans

Note 9.  Employee Benefit Plans

Defined Benefit Plan

The Bank of Greene County maintains a single-employer defined benefit pension plan (the “Pension Plan”).   Effective January 1, 2006, the Board of Directors of the Bank resolved to exclude from membership in the Pension Plan employees hired on or after January 1, 2006 and elected to cease additional benefit accruals to existing Pension Plan participants effective July 1, 2006.  Substantially all Bank employees who were hired before January 1, 2006 and attained the age of 21 are covered by the Pension Plan.  Under the Pension Plan, retirement benefits are primarily a function of both years of service and level of compensation, at July 1, 2006.  This defined benefit pension plan is accounted for in accordance with FASB ASC Topic 715 guidance on “Compensation – Retirement Benefits, Defined Benefit Plans – Pension”, which requires the Company to recognize in its consolidated financial statements an asset for a plan’s overfunded status or a liability for a plan’s underfunded status. Changes in the funded status of the single-employer defined benefit pension plan are reported as a component of other comprehensive income, net of applicable taxes, in the year in which changes occur.

Information regarding the single-employer defined benefit pension plan at June 30, 2015 and 2014 is as follows:

(In thousands)
Change in projected benefit obligation:	2015			2014
Benefit obligation at beginning of year	$	5,311		$	4,971
Interest cost		220			223
Actuarial loss		428			297
Benefits paid		(502	)		(180	)
Benefit obligation at June 30		5,457			5,311
Change in fair value of plan assets:
Fair value of plan assets at beginning of year		4,887			4,637
Actual return on plan assets		96			430
Employer contributions		-			-
Benefits paid		(502	)		(180	)
Fair value of plan assets at June 30		4,481			4,887
Underfunded status at June 30 included in other liabilities	$	976		$	424

The Company does not anticipate that it will make any contributions during the year ended June 30, 2016.

The components of net periodic pension costs related to the defined benefit pension plan for the years ended June 30, 2015 and 2014 were as follows:

(In thousands)	2015			2014
Interest cost	$	220		$	223
Expected return on plan assets		(335	)		(318	)
Amortization of net loss		106			89
Effect of settlement		144			-
Net periodic pension (income) cost	$	135		$	(6	)

The accumulated benefit obligation for the pension plan was $5.5 million and $5.3 million at June 30, 2015 and 2014, respectively. The Society of Actuaries released new mortality tables in 2014 which the Company utilized in its pension plan revaluation at June 30, 2015.  The change in mortality assumption resulted in an increase to the pension plan’s accumulated benefit obligation of $468,600.

Changes in plan assets and benefit obligations recognized in other comprehensive loss during the years ended June 30, 2015 and 2014 consisted of the following:

(In thousands)	2015		2014
Actuarial loss on plan assets and benefit obligations	$	418	$	96
Deferred tax benefit		162		37
Net change in plan assets and benefit obligations recognized in other comprehensive income (loss)	$	256	$	59

Amounts recognized in our consolidated statements of financial condition related to our pension plan for the years ended June 30, 2015 and 2014 are as follows:

(In thousands)
Other liabilities:	2015			2014
Projected benefit obligation in excess of fair value of pension plan	$	976		$	424
Accumulated other comprehensive loss, net of taxes:
Net losses and past service liability	$	(1,491	)	$	(1,235	)

The principal actuarial assumptions used were as follows:

Projected benefit obligation:	2015			2014
Discount rate		4.32	%		4.22	%
Net periodic pension expense:
Amortization period, in years		14			15
Discount rate		4.22	%		4.57	%
Expected long-term rate of return on plan assets		7.00	%		7.00	%

The discount rate used in the measurement of the Company’s pension obligation is based on the Citigroup Pension Liability Index based on expected benefit payments of the plan. The discount rates are evaluated at each measurement date to give effect to changes in the general interest rates. The expected long-term rate of return on plan assets reflects the average rate of earnings expected on the funds invested or to be invested to provide for the benefits included in the projected benefit obligation.  The selected rate considers the historical and expected future investment trends of the present and expected assets in the plan.  Since this is a frozen plan, the compensation rate is zero percent.

The weighted average asset allocation and fair value of our funded pension plan at June 30, 2015 and 2014 was as follows:

(Dollars in thousands)	2015				2014
	Fair Value				Fair Value
Money market accounts	$	15	0.3	%	$	15	0.3	%
Mutual funds		4,466	99.7	%		4,872	99.7	%
Total plan assets	$	4,481	100.0	%	$	4,887	100.0	%

The fair value of assets within the pension plan was determined utilizing a quoted price in active markets at the measurement date. As such, these assets are classified as Level 1 within the “Fair Value Measurement” hierarchy.

The target allocation for investment in mutual funds is 80% consisting of short-term and intermediate-term fixed income bond funds and 20% large cap value funds.  This allocation is consistent with our goal of preserving capital while achieving investment results that will contribute to the proper funding of pension obligations and cash flow requirements.  Asset rebalancing is performed on a quarterly basis, with adjustments made when the investment mix varies by more than 5% from the target.

The amortization of accumulated other comprehensive income associated with the single employer defined benefit pension plan for the year ended June 30, 2016 is expected to be nominal.

Expected benefit payments under the pension plan over the next ten years at June 30, 2015 are as follows:

(In thousands)
2016	$	184
2017		215
2018		215
2019		215
2020		214
2021-2025		1,184

Defined Contribution Plan

The Bank of Greene County also participates in a defined contribution plan (the “Contribution Plan”) covering substantially all employees who have completed three months of service.  The plan includes Section 401(k) and thrift provisions as defined under the Internal Revenue Code.  The provisions permit employees to contribute up to 50% of their total compensation on a pre-tax basis.    The Bank of Greene County matches employee contributions dollar for dollar for the first 3% and then 50% of the employee contributions up to the next 3%.  Company contributions associated with the contribution plan amounted to $221,000 and $215,000 in the years ended June 30, 2015 and 2014, respectively.

ESOP

All Bank employees meeting certain age and service requirements are eligible to participate in the ESOP.  Participant’s benefits become fully vested after three years of service.  During the years ended June 30, 2015 and 2014, the Board of Directors authorized the payment of $84,000 and $84,000 respectively, to the ESOP trustee for the purposes of purchasing additional shares of stock to be allocated to employees as of December 2015 and 2014, respectively.  ESOP expense was $84,000 for the years ended June 30, 2015 and 2014.  There were no unearned shares at June 30, 2015 or 2014.

SERP

On June 21, 2010, the Board of Directors of The Bank of Greene County adopted The Bank of Greene County Supplemental Executive Retirement Plan (the “SERP Plan”), effective as of July 1, 2010. The SERP Plan benefits certain key senior executives of the Bank who are selected by the Board to participate.

The SERP Plan is intended to provide a benefit from the Bank upon retirement, death or disability or voluntary or involuntary termination of service (other than “for cause”). Accordingly, the SERP Plan obligates the Bank to make an allocation to each executive’s account on the first business day of each July and permits each executive to defer up to 50% of his or her base salary and 100% of his or her annual bonus to the SERP Plan, subject to the requirements of Section 409A of the Internal Revenue Code (“Code”). In addition, the Bank may, but is not required to, make additional discretionary contributions to the executives’ accounts from time to time. An executive becomes vested in the Bank’s contributions after 10 calendar years of service following the effective date of the SERP Plan, and is fully vested immediately for all deferral of salary and bonus. However, the Executive will vest in the present value of his or her account in the event of death, disability or a change in control of the Bank or the Company. In the event the executive is terminated involuntarily or resigns for good reason following a change in control, the present value of all remaining Bank contributions is accelerated and paid to the executive’s account, subject to potential reduction to avoid an excess parachute payment under Code Section 280G. In the event of the executive’s death, disability or termination within two years after a change in control, executive’s account will be paid in a lump sum to the executive or his beneficiary, as applicable. In the event the executive is entitled to a benefit from the SERP Plan due to retirement or other termination of employment, the benefit will be paid in 10 annual installments.

The net periodic pension costs related to the SERP for the years ended June 30, 2015 and 2014 were $248,000, and $167,000, respectively, consisting primarily of service and interest costs.  The total liability for the SERP was $1.4 million and $899,000 as of June 30, 2015 and June 30, 2014, respectively.

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Operating Leases (Details)	12 Months Ended
	Jun. 30, 2015 USD ($) Branch	Jun. 30, 2014 USD ($)
Operating Leases [Abstract]
Number of branches for non-cancelable lease commitment | Branch	3
Total lease expense	$ 127,000	$ 69,000
Non-Cancelable lease commitments [Abstract]
2016	152,000
2017	121,000
2018	95,000
2019	34,000
2020	14,000
Thereafter	6,000
Total payments	$ 422,000

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Subsequent events (Details) - $ / shares		12 Months Ended
	Jul. 21, 2015	Jun. 30, 2015	Jun. 30, 2014
Subsequent Event [Line Items]
Common stock, dividends declared (in dollars per share)		$ 0.72	$ 0.70
2015 Q4 Dividend [Member]
Subsequent Event [Line Items]
Dividends payable, date declared		Jul. 21, 2015
Dividends payable, date of record		Aug. 14, 2015
Dividends payable, date paid		Aug. 31, 2015
Subsequent Event [Member] | 2015 Q4 Dividend [Member]
Subsequent Event [Line Items]
Common stock, dividends declared (in dollars per share)	$ 0.185
Subsequent Event [Member] | 2015 Annual Dividend [Member]
Subsequent Event [Line Items]
Common stock, dividends declared (in dollars per share)	0.72
Subsequent Event [Member] | 2016 Annual Dividend [Member]
Subsequent Event [Line Items]
Common stock, dividends declared (in dollars per share)	$ 0.74

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Consolidated Statements of Income - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Interest income:
Loans	$ 19,919	$ 18,521
Investment securities - taxable	548	646
Mortgage-backed securities	2,865	2,544
Investment securities - tax exempt	2,350	2,037
Interest-bearing deposits and federal funds sold	18	40
Total interest income	25,700	23,788
Interest expense:
Interest on deposits	2,030	2,222
Interest on borrowings	272	165
Total interest expense	2,302	2,387
Net interest income	23,398	21,401
Provision for loan losses	1,556	1,500
Net interest income after provision for loan losses	21,842	19,901
Noninterest income:
Service charges on deposit accounts	2,779	2,558
Debit card fees	1,694	1,565
Investment services	403	424
E-commerce fees	101	96
Other operating income	631	637
Total noninterest income	5,608	5,280
Noninterest expense:
Salaries and employee benefits	9,855	9,281
Occupancy expense	1,548	1,322
Equipment and furniture expense	524	436
Service and data processing fees	1,714	1,452
Computer software, supplies and support	522	400
Advertising and promotion	294	278
FDIC insurance premiums	404	371
Legal and professional fees	1,037	822
Other	2,045	1,754
Total noninterest expense	17,943	16,116
Income before provision for income taxes	9,507	9,065
Provision for income taxes	2,318	2,537
Net income	$ 7,189	$ 6,528
Basic earnings per share (in dollars per share)	$ 1.70	$ 1.55
Basic average shares outstanding (in shares)	4,218,671	4,205,945
Diluted earnings per share (in dollars per share)	$ 1.69	$ 1.54
Diluted average shares outstanding (in shares)	4,248,687	4,241,256
Dividends per share (in dollars per share)	$ 0.72	$ 0.70

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Securities

12 Months Ended

Jun. 30, 2015

Securities [Abstract]

Securities

Note 3.  Securities

Greene County Bancorp, Inc.’s current policies generally limit securities investments to U.S. Government and securities of government sponsored enterprises, federal funds sold, municipal bonds, corporate debt obligations and certain mutual funds.  In addition, the Company’s policies permit investments in mortgage-backed securities, including securities issued and guaranteed by Fannie Mae, Freddie Mac, and GNMA, and collateralized mortgage obligations issued by these entities.  As of June 30, 2015, all mortgage-backed securities including collateralized mortgage obligations were securities of government sponsored enterprises, no private-label mortgage-backed securities or collateralized mortgage obligations were held in the securities portfolio.  The Company’s investments in state and political subdivisions securities generally are municipal obligations that are general obligations supported by the general taxing authority of the issuer, and in some cases are insured.  The obligations issued by school districts are supported by state aid.  Primarily, these investments are issued by municipalities within New York State.

The Company’s current securities investment strategy utilizes a risk management approach of diversified investing among three categories: short-, intermediate- and long-term. The emphasis of this approach is to increase overall investment securities yields while managing interest rate risk.  The Company will only invest in high quality securities as determined by management’s analysis at the time of purchase.  The Company does not engage in any derivative or hedging transactions, such as interest rate swaps or caps.

Securities at June 30, 2015 consisted of the following:

(In thousands)	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Estimated Fair Value
Securities available-for-sale:
U.S. government sponsored enterprises	$	7,608	$	247	$	-	$	7,855
State and political subdivisions		39,574		9		1		39,582
Mortgage-backed securities-residential		7,797		155		10		7,942
Mortgage-backed securities-multi-family		25,291		486		42		25,735
Asset-backed securities		10		-		1		9
Corporate debt securities		4,544		242		12		4,774
Total debt securities		84,824		1,139		66		85,897
Equity securities and other		62		75		-		137
Total securities available-for-sale		84,886		1,214		66		86,034
Securities held-to-maturity:
U.S. government sponsored enterprises		2,000		-		49		1,951
State and political subdivisions		81,501		2,137		187		83,451
Mortgage-backed securities-residential		17,468		768		-		18,236
Mortgage-backed securities-multi-family		67,239		990		665		67,564
Other securities		792		-		18		774
Total securities held-to-maturity		169,000		3,895		919		171,976
Total securities	$	253,886	$	5,109	$	985	$	258,010

Securities at June 30, 2014 consisted of the following:

(In thousands)	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Estimated Fair Value
Securities available-for-sale:
U.S. government sponsored enterprises	$	10,648	$	250	$	-	$	10,898
State and political subdivisions		1,324		23		-		1,347
Mortgage-backed securities-residential		9,345		213		13		9,545
Mortgage-backed securities-multi-family		29,268		89		339		29,018
Asset-backed securities		15		-		2		13
Corporate debt securities		4,811		375		16		5,170
Total debt securities		55,411		950		370		55,991
Equity securities and other		62		98		-		160
Total securities available-for-sale		55,473		1,048		370		56,151
Securities held-to-maturity:
U.S. government sponsored enterprises		2,000		-		102		1,898
State and political subdivisions		91,634		787		204		92,217
Mortgage-backed securities-residential		22,785		1,150		-		23,935
Mortgage-backed securities-multi-family		64,605		759		2,381		62,983
Other securities		922		1		24		899
Total securities held-to-maturity		181,946		2,697		2,711		181,932
Total securities	$	237,419	$	3,745	$	3,081	$	238,083

The following table shows fair value and gross unrealized losses, aggregated by security category and length of time that individual securities have been in a continuous unrealized loss position, at June 30, 2015.

	Less Than 12 Months						More Than 12 Months						Total
(In thousands, except number of securities)	Fair Value		Unrealized Losses		Number of Securities		Fair Value		Unrealized Losses		Number of Securities		Fair Value		Unrealized Losses		Number of Securities
Securities available-for-sale:
State and political subdivisions	$	799	$	1		1	$	-	$	-	-		$	799	$	1		1
Mortgage-backed securities-residential		-		-		-		1,630		10		1		1,630		10		1
Mortgage-backed securities-multi-family		2,023		26		1		753		16		1		2,776		42		2
Asset-backed securities		-		-		-		9		1		1		9		1		1
Corporate debt securities		273		2		1		491		10		2		764		12		3
Total securities available-for-sale		3,095		29		3		2,883		37		5		5,978		66		8
Securities held-to-maturity:
U.S. government sponsored enterprises		-		-		-		1,951		49		1		1,951		49		1
State and political subdivisions		11,171		143		49		1,221		44		9		12,392		187		58
Mortgage-backed securities-multi-family		14,464		100		4		28,187		565		6		42,651		665		10
Other securities		334		11		1		202		7		1		536		18		2
Total securities held-to-maturity		25,969		254		54		31,561		665		17		57,530		919		71
Total securities	$	29,064	$	283		57	$	34,444	$	702		22	$	63,508	$	985		79

The following table shows fair value and gross unrealized losses, aggregated by security category and length of time that individual securities have been in a continuous unrealized loss position, at June 30, 2014.

	Less Than 12 Months						More Than 12 Months						Total
(In thousands, except number of securities)	Fair Value		Unrealized Losses		Number of Securities		Fair Value		Unrealized Losses		Number of Securities		Fair Value		Unrealized Losses		Number of Securities
Securities available-for-sale:
Mortgage-backed securities-residential	$	4,302	$	13		2	$	-	$	-		-	$	4,302	$	13		2
Mortgage-backed securities-multi-family		4,448		5		3		19,404		334		7		23,852		339		10
Asset-backed securities		-		-		-		13		2		1		13		2		1
Corporate debt securities		767		16		2		-		-		-		767		16		2
Total securities available-for-sale		9,517		34		7		19,417		336		8		28,934		370		15
Securities held-to-maturity:
U.S. government sponsored enterprises		1,898		102		1		-		-		-		1,898		102		1
State and political subdivisions		6,693		175		34		1,815		29		11		8,508		204		45
Mortgage-backed securities-multi-family		26,522		1,617		7		15,440		764		6		41,962		2,381		13
Other securities		130		2		2		401		22		2		531		24		4
Total securities held-to-maturity		35,243		1,896		44		17,656		815		19		52,899		2,711		63
Total securities	$	44,760	$	1,930		51	$	37,073	$	1,151		27	$	81,833	$	3,081		78

Management evaluated these securities considering the factors as outlined in Note 1 of these consolidated financial statements, and based on this evaluation, the Company does not consider these investments to be other-than-temporarily impaired at June 30, 2015.  Management believes that the reasons for the decline in fair value are due to interest rates, widening credit spreads and market illiquidity at the reporting date.

There were no transfers of securities available-for-sale to held-to-maturity during the year ended June 30, 2015. During the year ended June 30, 2014, $11.7 million of securities available-for-sale were transferred to held-to-maturity and included primarily mortgage-backed securities.  These securities were transferred at fair value which reflected a net unrealized loss of $805,000.  This unrealized loss is being accreted to other comprehensive income over the remaining average lives of these securities.

During the years ended June 30, 2015 and 2014, there were no sales of securities and no gains or losses were recognized.  There was no other-than-temporary impairment loss recognized during the years ended June 30, 2015 and 2014.

The estimated fair values of debt securities at June 30, 2015, by contractual maturity are shown below.  Expected maturities may differ from contractual maturities, because issuers may have the right to call or prepay obligations with or without call or prepayment penalties.

(In thousands)

Available-for-sale debt securities	Amortized Cost		Fair Value
Within one year	$	41,951	$	41,972
After one year through five years		9,235		9,669
After five years through ten years		540		570
After ten years		-		-
Total available-for-sale debt securities		51,726		52,211
Mortgage-backed and asset-backed securities		33,098		33,686
Equity securities		62		137
Total available-for-sale securities		84,886		86,034
Held-to-maturity debt securities
Within one year		12,371		12,554
After one year through five years		44,217		45,172
After five years through ten years		20,044		20,497
After ten years		7,661		7,953
Total held-to-maturity debt securities		84,293		86,176
Mortgage-backed		84,707		85,800
Total held-to-maturity securities		169,000		171,976
Total securities	$	253,886	$	258,010

As of June 30, 2015 and 2014, respectively, securities with an aggregate fair value of $223.1 million and $210.0 million were pledged as collateral for deposits in excess of FDIC insurance limits for various municipalities placing deposits with Greene County Commercial Bank.  As of June 30, 2015 and 2014, securities with an aggregate fair value of $4.8 million, and $5.2 million, respectively, were pledged as collateral for potential borrowings at the Federal Reserve Bank discount window.  Greene County Bancorp, Inc. did not participate in any securities lending programs during the years ended June 30, 2015 or 2014.

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Balances at Other Banks

12 Months Ended

Jun. 30, 2015

Balances at Other Banks [Abstract]

Balances at Other Banks

Note 2.  Balances at other banks

The Bank of Greene County is required to maintain certain reserves of vault cash and/or deposits with the Federal Reserve Bank.  The amount of this reserve requirement, included in cash and due from banks, was $1.3 million and $1.2 million at June 30, 2015 and 2014, respectively.

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Operating Leases

12 Months Ended

Jun. 30, 2015

Operating Leases [Abstract]

Operating Leases

Note 14. Operating Leases

The Bank of Greene County has non-cancelable lease commitments for three branch locations.  These leases include obligations for real estate taxes, insurance and maintenance expenses.  Total lease expense was $127,000 and $69,000 for the years ended June 30, 2015 and 2014, respectively.  Minimum non-cancelable lease commitments for future years ending June 30 are as follows:

(In thousands)

The year ended June 30,	Annual Lease Payments
2016	$	152
2017		121
2018		95
2019		34
2020		14
Thereafter		6
Total payments	$	422

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Stock-Based Compensation

12 Months Ended

Jun. 30, 2015

Stock-Based Compensation [Abstract]

Stock-Based Compensation

Note 10.  Stock-Based Compensation

Stock Option Plan

Greene County Bancorp, Inc. has a stock-based compensation plan (the “2008 Option Plan”) which allows the Company to issue up to 180,000 options and stock appreciation rights.  In 2008, the Board of Directors granted 164,500 options and stock appreciation rights (in tandem) to buy stock under the 2008 Option Plan at an exercise price of $12.50, the fair value of the stock on that date.  These options have a 10-year term and vested over a three year period upon meeting specific earnings performance goals.

A summary of the Company’s stock option activity and related information for its option plans for the years ended June 30, 2015 and 2014 is as follows:

	2015					2014
	Options			Weighted Average Exercise Price Per Share		Options			Weighted Average Exercise Price Per Share
Outstanding at beginning of year		59,435		$	12.50		87,400		$	12.50
Exercised		(11,600	)	$	12.50		(27,965	)	$	12.50
Outstanding at year end		47,835		$	12.50		59,435		$	12.50
Exercisable at year end		47,835		$	12.50		59,435		$	12.50

The following table presents stock options outstanding and exercisable at June 30, 2015:

Options Outstanding and Exercisable
Range of Exercise Prices	Number Outstanding		Weighted Average Remaining Contractual Life		Weighted Average Exercise Price
$12.50		47,835		3.25	$	12.50

At June 30, 2015 and 2014, all outstanding shares were fully vested, with no remaining compensation cost to be recognized. There were no stock options granted during the years ended June 30, 2015 or 2014.  The total intrinsic value of the options exercised during the year ended June 30, 2015 was approximately $182,000.  The total intrinsic value of the options exercised during the year ended June 30, 2014 was approximately $378,000

Phantom Stock Option Plan and Long-term Incentive Plan

The Greene County Bancorp, Inc. 2011 Phantom Stock Option and Long-term Incentive Plan (the “Plan”), was adopted effective July 1, 2011, to promote the long-term financial success of the Company and its subsidiaries by providing a means to attract, retain and reward individuals who contribute to such success and to further align their interests with those of the Company’s shareholders. Effective July 1, 2014, the Plan was amended to increase the number of phantom stock options available for awards from 900,000 to 1,800,000.   The Plan is intended to provide benefits to employees and directors of the Company or any subsidiary as designated by the Compensation Committee of the Board of Directors of the Company (“Committee”).   A phantom stock option represents the right to receive a cash payment on the date the award vests. The participant receives an amount equal to the positive difference between the strike price on the grant date and the book value of a share of the Company stock on the determination date, which is the last day of the plan year that is the end of the third plan year after the grant date of the award, unless otherwise specified by the Committee.  The strike price will be the price established by the Committee, which will not be less than 100% of the book value of a share on a specified date, as determined under generally accepted accounting principles (GAAP) as of the last day of the quarter ending on or immediately preceding the valuation date with adjustments made, in the sole discretion of the Committee, to exclude accumulated other comprehensive income (loss).

A summary of the Company’s phantom stock option activity and related information for its option plan for the years ended June 30, 2015 and 2014 is as follows:

	2015			2014
Number of options outstanding at beginning of year		665,426			462,464
Options granted		235,380			236,308
Options forfeited		--			(6,840	)
Options paid in cash upon vesting		(272,052	)		(26,506	)
Number of options outstanding at period end		628,754			665,426

The Company paid out $845,000 and $26,900 in cash during the years ended June 30, 2015 and 2014, respectively on options vested.  The Company recognized $830,000 and $786,800 in compensation costs related to the Plan during the years ended June 30, 2015 and 2014, respectively.  The total liability for the long-term incentive plan was $1.1 million and $1.2 million at June 30, 2015 and 2014, respectively.

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Fair Value Measurements and Fair Value of Financial Instruments, Carrying Amount and Estimated Fair Value (Details) - USD ($) $ in Thousands	Jun. 30, 2015	Jun. 30, 2014
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Securities available-for-sale	$ 86,034	$ 56,151
Securities held-to-maturity	171,976	181,932
Carrying Amount [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and cash equivalents	15,538	13,809
Long term certificate of deposit	1,230	250
Securities available-for-sale	86,034	56,151
Securities held-to-maturity	169,000	181,946
Federal Home Loan Bank stock	2,494	1,561
Net loans receivable	443,496	399,309
Accrued interest receivable	3,026	2,710
Deposits	622,717	589,574
Borrowings from Federal Home Loan Bank borrowings	41,700	17,650
Accrued interest payable	64	66
Fair Value [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and cash equivalents	15,538	13,809
Long term certificate of deposit	1,230	250
Securities available-for-sale	86,034	56,151
Securities held-to-maturity	171,976	181,932
Federal Home Loan Bank stock	2,494	1,561
Net loans receivable	450,437	406,718
Accrued interest receivable	3,026	2,710
Deposits	622,900	589,681
Borrowings from Federal Home Loan Bank borrowings	41,598	17,465
Accrued interest payable	64	66
Fair Value [Member] | Level 1 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and cash equivalents	15,538	13,809
Long term certificate of deposit	1,230	250
Securities available-for-sale	4,920	5,343
Securities held-to-maturity	0	0
Federal Home Loan Bank stock	0	0
Net loans receivable	0	0
Accrued interest receivable	0	0
Deposits	0	0
Borrowings from Federal Home Loan Bank borrowings	0	0
Accrued interest payable	0	0
Fair Value [Member] | Level 2 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and cash equivalents	0	0
Long term certificate of deposit	0	0
Securities available-for-sale	81,114	50,808
Securities held-to-maturity	171,976	181,932
Federal Home Loan Bank stock	2,494	1,561
Net loans receivable	0	0
Accrued interest receivable	3,026	2,710
Deposits	622,900	589,681
Borrowings from Federal Home Loan Bank borrowings	41,598	17,465
Accrued interest payable	64	66
Fair Value [Member] | Level 3 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and cash equivalents	0	0
Long term certificate of deposit	0	0
Securities available-for-sale	0	0
Securities held-to-maturity	0	0
Federal Home Loan Bank stock	0	0
Net loans receivable	450,437	406,718
Accrued interest receivable	0	0
Deposits	0	0
Borrowings from Federal Home Loan Bank borrowings	0	0
Accrued interest payable	$ 0	$ 0

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Deposits

12 Months Ended

Jun. 30, 2015

Deposits [Abstract]

Deposits

Note 6.  Deposits

Major classifications of deposits at June 30, 2015 and 2014 are summarized as follows:

(In thousands)	2015		2014
Noninterest-bearing deposits	$	73,359	$	67,446
Certificates of deposit		43,121		48,900
Savings deposits		163,927		165,227
Money market deposits		103,724		87,363
NOW deposits		238,586		220,638
Total deposits	$	622,717	$	589,574

Advance payments by borrowers for taxes and insurance totaling $6,092,000 and $5,495,000 at June 30, 2015 and 2014, respectively, are included in savings deposits.

Related party deposits are not material.

The following indicates the amount of certificates of deposit by time remaining to maturity as of June 30, 2015.

(In thousands)	3 months or less		3 to 6 Months		7 to 12 Months		Over 12 Months		Total
Certificates of deposit less than $100,000	$	6,740	$	5,124	$	4,452	$	11,934	$	28,250
Certificates of deposit $100,000 or more		2,635		949		1,466		9,821		14,871
Total certificates of deposit	$	9,375	$	6,073	$	5,918	$	21,755	$	43,121

The aggregate amount of certificates of deposit in denominations of $250,000 or more (the amount which exceeds the FDIC insurance limit) was $2,793,000 at June 30, 2015.

Scheduled maturities of certificates of deposit at June 30, 2015 were as follows:

(In thousands)
The year ended June 30,
2016	$	21,366
2017		4,805
2018		7,196
2019		4,765
2020		4,989
	$	43,121

XML

Deposits, Schedule of Certificates of Deposits by Year of Maturity (Details) - USD ($) $ in Thousands	Jun. 30, 2015	Jun. 30, 2014
Scheduled maturities of certificates of deposit [Abstract]
2016	$ 21,366
2017	4,805
2018	7,196
2019	4,765
2020	4,989
Total certificates of deposit	$ 43,121	$ 48,900

XML

Loans

12 Months Ended

Jun. 30, 2015

Loans [Abstract]

Loans

Note 4.  Loans

Loan segments and classes at June 30, 2015 and 2014 are summarized as follows:

	At June 30,
(In thousands)	2015			2014
Residential real estate:
Residential real estate	$	226,648		$	227,373
Residential construction and land		3,621			3,005
Multi-family		4,287			4,059
Commercial real estate:
Commercial real estate		142,323			114,066
Commercial construction		8,936			1,558
Consumer loan:
Home equity		21,019			20,578
Consumer installment		4,123			4,208
Commercial loans		39,798			30,994
Total gross loans		450,755			405,841
Allowance for loan losses		(8,142	)		(7,419	)
Deferred fees and costs		883			887
Loans receivable, net	$	443,496		$	399,309

At June 30, 2015 and 2014, loans to related parties including officers and directors were immaterial as a percentage of our loan portfolio.

Credit Quality Indicators

Management closely monitors the quality of the loan portfolio and has established a loan review process designed to help grade the quality and profitability of the Company’s loan portfolio.  The credit quality grade helps management make a consistent assessment of each loan relationship’s credit risk. Consistent with regulatory guidelines, The Bank of Greene County provides for the classification of loans considered being of lesser quality.  Such ratings coincide with the “Substandard,” “Doubtful” and “Loss” classifications used by federal regulators in their examination of financial institutions. Generally, an asset is considered Substandard if it is inadequately protected by the current net worth and paying capacity of the obligors and/or the collateral pledged. Substandard assets include those characterized by the distinct possibility that the insured financial institution will sustain some loss if the deficiencies are not corrected. Assets classified as Doubtful have all the weaknesses inherent in assets classified Substandard with the added characteristic that the weaknesses present make collection or liquidation in full, on the basis of currently existing facts, highly questionable and improbable. Assets classified as Loss are those considered uncollectible and of such little value that their continuance as assets without the establishment of a full loss reserve and/or charge-off is not warranted. Assets that do not currently expose the Company to sufficient risk to warrant classification in one of the aforementioned categories but otherwise possess weaknesses are designated “Special Mention.”   Management also maintains a listing of loans designated “Watch.” These loans represent borrowers with declining earnings, strained cash flow, increasing leverage and/or weakening market fundamentals that indicate above average risk.

When The Bank of Greene County classifies problem assets as either Substandard or Doubtful, it generally establishes a specific valuation allowance or “loss reserve” in an amount deemed prudent by management.  General allowances represent loss allowances that have been established to recognize the inherent risk associated with lending activities, but which, unlike specific allowances, have not been allocated to particular loans.  When The Bank of Greene County identifies problem loans as being impaired, it is required to evaluate whether the Bank will be able to collect all amounts due either through repayments or the liquidation of the underlying collateral.  If it is determined that impairment exists, the Bank is required either to establish a specific allowance for losses equal to the amount of impairment of the assets, or to charge-off such amount.  The Bank of Greene County’s determination as to the classification of its loans and the amount of its valuation allowance is subject to review by its regulatory agencies, which can order the establishment of additional general or specific loss allowances.  The Bank of Greene County reviews its portfolio monthly to determine whether any assets require classification in accordance with applicable regulations.

The Bank primarily has four segments within its loan portfolio that it considers when measuring credit quality: residential real estate loans, commercial real estate loans, consumer loans and commercial loans.  The residential real estate portfolio consists of residential, construction, and multifamily loan classes. Commercial real estate loans consist of commercial real estate and commercial construction loan classes. Consumer loans consist of home equity loan and consumer installment loan classes. The inherent risk within the loan portfolio varies depending upon each of these loan types.

The Bank of Greene County’s primary lending activity is the origination of residential mortgage loans, including home equity loans, which are collateralized by residences.   Generally, residential mortgage loans are made in amounts up to 89.9% of the appraised value of the property.  However, The Bank of Greene County will originate residential mortgage loans with loan-to-value ratios of up to 95.0%, with private mortgage insurance.  In the event of default by the borrower, The Bank of Greene County will acquire and liquidate the underlying collateral. By originating the loan at a loan-to-value ratio of 89.9% or less or obtaining private mortgage insurance, The Bank of Greene County limits its risk of loss in the event of default.  However, the market values of the collateral may be adversely impacted by declines in the economy.  Home equity loans may have an additional inherent risk if The Bank of Greene County does not hold the first mortgage.  The Bank of Greene County may stand in a secondary position in the event of collateral liquidation resulting in a greater chance of insufficiency to meet all obligations.

Construction lending generally involves a greater degree of risk than other residential mortgage lending.  The repayment of the construction loan is, to a great degree, dependent upon the successful and timely completion of the construction of the subject property within specified cost limits.  The Bank of Greene County completes inspections during the construction phase prior to any disbursements.  The Bank of Greene County limits its risk during the construction as disbursements are not made until the required work for each advance has been completed.  Construction delays may further impair the borrower’s ability to repay the loan.

Loans collateralized by commercial real estate, and multi-family dwellings, such as apartment buildings generally are larger than residential loans and involve a greater degree of risk. Commercial real estate loans often involve large loan balances to single borrowers or groups of related borrowers. Payments on these loans depend to a large degree on the results of operations and management of the properties or underlying businesses, and may be affected to a greater extent by adverse conditions in the real estate market or the economy in general. Accordingly, the nature of commercial real estate loans makes them more difficult for management to monitor and evaluate.

Consumer loans generally have shorter terms and higher interest rates than residential mortgage loans. In addition, consumer loans expand the products and services offered by The Bank of Greene County to better meet the financial services needs of its customers.  Consumer loans generally involve greater credit risk than residential mortgage loans because of the difference in the nature of the underlying collateral.  Repossessed collateral for a defaulted consumer loan may not provide an adequate source of repayment of the outstanding loan balance because of the greater likelihood of damage, loss or depreciation in the underlying collateral. The remaining deficiency often does not warrant further substantial collection efforts against the borrower beyond obtaining a deficiency judgment. In addition, consumer loan collections depend on the borrower’s personal financial stability.  Furthermore, the application of various federal and state laws, including federal and state bankruptcy and insolvency laws, may limit the amount that can be recovered on such loans.

Commercial lending generally involves greater risk than residential mortgage lending and involves risks that are different from those associated with residential and commercial real estate mortgage lending. Real estate lending is generally considered to be collateral-based, with loan amounts based on fixed loan-to-collateral values, and liquidation of the underlying real estate collateral is viewed as the primary source of repayment in the event of borrower default. Although commercial loans may be collateralized by equipment or other business assets, the liquidation of collateral in the event of a borrower default is often an insufficient source of repayment because equipment and other business assets may be obsolete or of limited use, among other things. Accordingly, the repayment of a commercial loan depends primarily on the creditworthiness of the borrower (and any guarantors), while liquidation of collateral is a secondary and often insufficient source of repayment.

Loan balances by internal credit quality indicator as of June 30, 2015 are shown below.

(In thousands)	Performing		Watch		Special Mention		Substandard		Total
Residential real estate	$	224,195	$	638	$	97	$	1,718	$	226,648
Residential construction and land		3,621		-		-		-		3,621
Multi-family		4,182		-		-		105		4,287
Commercial real estate		138,468		-		986		2,869		142,323
Commercial construction		8,936		-		-		-		8,936
Home equity		20,731		-		15		273		21,019
Consumer installment		4,117		6		-		-		4,123
Commercial loans		38,334		-		844		620		39,798
Total gross loans	$	442,584	$	644	$	1,942	$	5,585	$	450,755

Loan balances by internal credit quality indicator as of June 30, 2014 are shown below.

(In thousands)	Performing		Watch		Special Mention		Substandard		Total
Residential real estate	$	223,772	$	221	$	99	$	3,281	$	227,373
Residential construction and land		3,005		-		-		-		3,005
Multi-family		3,946		-		-		113		4,059
Commercial real estate		109,281		-		1,789		2,996		114,066
Commercial construction		1,558		-		-		-		1,558
Home equity		20,239		-		-		339		20,578
Consumer installment		4,208		-		-		-		4,208
Commercial loans		29,686		-		385		923		30,994
Total gross loans	$	395,695	$	221	$	2,273	$	7,652	$	405,841

The Company had no loans classified Doubtful or Loss at June 30, 2015 or 2014.

Nonaccrual Loans

Management places loans on nonaccrual status once the loans have become 90 days or more delinquent.  A nonaccrual loan is defined as a loan in which collectability is questionable and therefore interest on the loan will no longer be recognized on an accrual basis.  A loan is not placed back on accrual status until the borrower has demonstrated the ability and willingness to make timely payments on the loan.  A loan does not have to be 90 days delinquent in order to be classified as nonaccrual.   Nonaccrual loans consisted primarily of loans secured by real estate at June 30, 2015 and 2014.  While the Bank makes every reasonable effort to work with the borrowers to collect amounts due, the number of loans which have been foreclosed upon or are in process of foreclosure has remained historically high over the past several years.  These high levels have been the result of adverse changes within the economy and increases in local unemployment.  These levels are also due in part to the extended length of time required to meet all of the legal requirements mandated by New York state law prior to a foreclosure sale, which may be in excess of two years. During the year ended June 30, 2015, the Bank has been able to work through many of its nonperforming loans, and has reduced the overall level of delinquencies and loans in process of foreclosure. However, several of the properties acquired remain in foreclosed real estate as of June 30, 2015.  Loans on nonaccrual status totaled $4.6 million at June 30, 2015 of which $1.2 million were in the process of foreclosure.  Included in nonaccrual loans were $2.6 million of loans which were less than 90 days past due at June 30, 2015, but have a recent history of delinquency greater than 90 days past due. These loans will be returned to accrual status once they have demonstrated a history of timely payments.  Included in total loans past due were $276,000 of loans which were making payments pursuant to forbearance agreements.  Under the forbearance agreements, the customers have made arrangements with the Bank to bring the loans current over a specified period of time (resulting in an insignificant delay in repayment).  During this term of the forbearance agreement, the Bank has agreed not to continue foreclosure proceedings. Loans on nonaccrual status totaled $5.9 million at June 30, 2014 of which $3.0 million were in the process of foreclosure.  Included in nonaccrual loans were $922,000 of loans which were less than 90 days past due at June 30, 2014, but have a recent history of delinquency greater than 90 days past due.

The following table sets forth information regarding delinquent and/or nonaccrual loans as of June 30, 2015:

(In thousands)	30-59 days past due		60-89 days past due		90 days or more past due		Total past due		Current		Total Loans		Loans on Non- accrual
Residential real estate	$	1,233	$	329	$	785	$	2,347	$	224,301	$	226,648	$	1,087
Residential construction and land		28		-		-		28		3,593		3,621		-
Multi-family		-		-		-		-		4,287		4,287		-
Commercial real estate		339		1		1,132		1,472		140,851		142,323		2,964
Commercial construction		-		-		-		-		8,936		8,936		-
Home equity		244		-		33		277		20,742		21,019		169
Consumer installment		25		6		-		31		4,092		4,123		-
Commercial loans		-		-		175		175		39,623		39,798		388
Total gross loans	$	1,869	$	336	$	2,125	$	4,330	$	446,425	$	450,755	$	4,608

The following table sets forth information regarding delinquent and/or nonaccrual loans as of June 30, 2014:

(In thousands)	30-59 days past due		60-89 days past due		90 days or more past due		Total past due		Current		Total Loans		Loans on Non- accrual
Residential real estate	$	1,047	$	290	$	1,938	$	3,275	$	224,098	$	227,373	$	2,473
Residential construction and land		-		-		-		-		3,005		3,005		-
Multi-family		-		-		-		-		4,059		4,059		-
Commercial real estate		-		504		2,688		3,192		110,874		114,066		2,775
Commercial construction		-		-		-		-		1,558		1,558		-
Home equity		260		-		339		599		19,979		20,578		339
Consumer installment		51		-		-		51		4,157		4,208		-
Commercial loans		509		123		278		910		30,084		30,994		312
Total gross loans	$	1,867	$	917	$	5,243	$	8,027	$	397,814	$	405,841	$	5,899

The Bank of Greene County had accruing loans delinquent 90 days or more as of June 30, 2015 totaling $84,000 and had accruing loans delinquent more than 90 days as of June 30, 2014 totaling $266,000.  The loans delinquent more than 90 days and accruing consist of loans that are well collateralized and the borrowers have demonstrated the ability and willingness to pay.  The borrowers have made arrangements with the Bank to bring the loan current within a specified time period and have made a series of payments as agreed.

The table below details additional information related to nonaccrual loans:

	For the years ended June 30,
(In thousands)	2015		2014
Interest income that would have been recorded if loans had been performing in accordance with original terms	$	340	$	352
Interest income that was recorded on nonaccrual loans		250		128

Impaired Loan Analysis

The Company identifies impaired loans and measures the impairment in accordance with FASB ASC subtopic “Receivables – Loan Impairment.”  Management may consider a loan impaired once it is classified as nonaccrual and when it is probable that the borrower will be unable to repay the loan according to the original contractual terms of the loan agreement or the loan is restructured in a troubled debt restructuring.  It should be noted that management does not evaluate all loans individually for impairment.  Generally, The Bank of Greene County considers residential mortgages, home equity loans and installment loans as small, homogeneous loans, which are evaluated for impairment collectively based on historical loan experience and other factors.  In contrast, large commercial mortgage, construction, multi-family, business loans and select larger balance residential mortgage loans are reviewed individually and considered impaired if it is probable that The Bank of Greene County will not be able to collect scheduled payments of principal and interest when due, according to the contractual terms of the loan agreement.  The measurement of impaired loans is generally based on the fair value of the underlying collateral.  The majority of The Bank of Greene County loans, including most nonaccrual loans, are small homogenous loan types adequately supported by collateral.  Management considers the payment status of loans in the process of evaluating the adequacy of the allowance for loan losses among other factors.  Loans that are either delinquent a minimum of 60 days or are on nonaccrual status, and are not individually evaluated for impairment, are either designated as Special Mention or Substandard, and the allocation of the allowance for loan losses is based upon the risk associated with such designation.

The tables below detail additional information on impaired loans at the date or periods indicated:

	As of June 30, 2015						For the year ended June 30, 2015
(In thousands)	Recorded Investment		Unpaid Principal		Related Allowance		Average Recorded Investment		Interest Income Recognized
With no related allowance recorded:
Residential real estate	$	432	$	432	$	-	$	508	$	27
Commercial real estate		1,206		1,412		-		1,000		45
Home equity		154		154		-		70		1
Commercial loans		-		-		-		208		14
Total impaired loans with no allowance		1,792		1,998		-		1,786		87
With an allowance recorded:
Residential real estate		1,411		1,411		263		2,176		80
Commercial real estate		895		895		187		1,675		61
Home equity		-		-		-		154		-
Commercial loans		93		93		1		348		23
Total impaired loans with allowance		2,399		2,399		451		4,353		164
Total impaired loans:
Residential real estate		1,843		1,843		263		2,684		107
Commercial real estate		2,101		2,307		187		2,675		106
Home equity		154		154		-		224		1
Commercial loans		93		93		1		556		37
Total impaired loans	$	4,191	$	4,397	$	451	$	6,139	$	251

	As of June 30, 2014						For the year ended June 30, 2014
(In thousands)	Recorded Investment		Unpaid Principal		Related Allowance		Average Recorded Investment		Interest Income Recognized
With no related allowance recorded:
Residential real estate	$	206	$	206	$	-	$	330	$	14
Commercial real estate		461		461		-		518		29
Home equity		96		96		-		24		3
Total impaired loans with no allowance		763		763		-		872		46
With an allowance recorded:
Residential real estate		2,700		2,790		441		2,978		64
Multi-family		-		-		-		193		-
Commercial real estate		2,572		2,959		338		2,346		63
Commercial construction		-		-		-		350		17
Home equity		200		200		87		150		-
Commercial loans		603		603		3		606		39
Total impaired loans with allowance		6,075		6,552		869		6,623		183
Total impaired loans
Residential real estate		2,906		2,996		441		3,308		78
Multi-family		-		-		-		193		-
Commercial real estate		3,033		3,420		338		2,864		92
Commercial construction		-		-		-		350		17
Home equity		296		296		87		174		3
Commercial loans		603		603		3		606		39
Total impaired loans	$	6,838	$	7,315	$	869	$	7,495	$	229

The table below details loans that have been modified as a troubled debt restructuring during the year ended June 30, 2015.

(Dollars in thousands)	Number of Contracts		Pre-Modification Outstanding Recorded Investment		Post-Modification Outstanding Recorded Investment		Current Outstanding Recorded Investment
Residential real estate		1	$	164	$	184	$	183

This loan has been classified as troubled debt restructurings due to concessions granted to the debtors that The Bank of Greene County would not otherwise consider as a result of financial difficulties of the borrowers.  For this loan, concessions consisted of additional funds advanced, interest rate reduction and extension of the maturity.  At June 30, 2015, this loan was returned to accrual status as it has performed under the terms of the modification, and the ultimate collectability of all amounts contractually due under the modified terms is not in doubt.  This loan identified as a troubled debt restructuring has been evaluated for impairment and the impact to the allowance for loan losses was immaterial.

The table below details loans that have been modified as a troubled debt restructuring during the year ended June 30, 2014.

(Dollars in thousands)	Number of Contracts		Pre-Modification Outstanding Recorded Investment		Post-Modification Outstanding Recorded Investment		Current Outstanding Recorded Investment
Residential real estate		3	$	575	$	575	$	566
Commercial real estate		5		1,789		1,848		1,589

These loans have been classified as troubled debt restructurings due to concessions granted to the debtors that The Bank of Greene County would not otherwise consider as a result of financial difficulties of the borrowers.  For these loans, concessions consisted of any combination of the following: additional funds were advanced, the interest rate was reduced and/or the term extended.  At June 30, 2014, two of the eight loans were returned to accrual status but the remaining loans modified during the period as a troubled debt restructuring were included in non-accrual loans.

The Company had no loans that had been modified as troubled debt restructurings during the twelve months prior to June 30, 2015 which had subsequently defaulted during the year ended June 30, 2015.

The table below details loans that have been modified as troubled debt restructurings during the twelve months prior to June 30, 2014 which have subsequently defaulted during the year ended June 30, 2014:

(Dollars in thousands)	Number of Contracts		Recorded Investment		Allowance for Loan Loss
Residential real estate		2	$	284	$	65
Commercial real estate		2		894		192

Allowance for Loan Losses

The allowance for loan losses is established through a provision for loan losses based on management’s evaluation of the risk inherent in the loan portfolio, the composition of the loan portfolio, specific impaired loans and current economic conditions.  Such evaluation, which includes a review of certain identified loans on which full collectability may not be reasonably assured, considers among other matters, the estimated net realizable value or the fair value of the underlying collateral, economic conditions, payment status of the loan, historical loan loss experience and other factors that warrant recognition in providing for the loan loss allowance.  In addition, various regulatory agencies, as an integral part of their examination process, periodically review The Bank of Greene County’s allowance for loan losses.  Such agencies may require The Bank of Greene County to recognize additions to the allowance based on their judgment about information available to them at the time of their examination. The Bank of Greene County considers smaller balance residential mortgages, home equity loans, commercial loans and installment loans to customers as small, homogeneous loans, which are evaluated for impairment collectively based on historical loss experience.  Larger balance residential, commercial mortgage and business loans are viewed individually and considered impaired if it is probable that The Bank of Greene County will not be able to collect scheduled payments of principal and interest when due, according to the contractual terms of the loan agreements.  The measurement of impaired loans is generally based on the fair value of the underlying collateral.  The Bank of Greene County charges loans off against the allowance for credit losses when it becomes evident that a loan cannot be collected within a reasonable amount of time or that it will cost the Bank more than it will receive, and all possible avenues of repayment have been analyzed, including the potential of future cash flow, the value of the underlying collateral, and strength of any guarantors or co-borrowers.  Generally, consumer loans and smaller business loans (not secured by real estate) in excess of 90 days are charged-off against the allowance for loan losses, unless equitable arrangements are made.   For loans secured by real estate, a charge-off is recorded when it is determined that the collection of all or a portion of a loan may not be collected and the amount of that loss can be reasonably estimated.

The following tables set forth the activity and allocation of the allowance for loan losses by loan class during and at the periods indicated.  The allowance is allocated to each loan class based on historical loss experience, current economic conditions, and other considerations.

	Activity for the year ended June 30, 2015
(In thousands)	Balance June 30, 2014		Charge-offs		Recoveries		Provision			Balance June 30, 2015
Residential real estate	$	2,731	$	390	$	6	$	107		$	2,454
Residential construction and land		42		-		-		8			50
Multi-family		59		-		-		(19	)		40
Commercial real estate		2,936		133		-		896			3,699
Commercial construction		38		-		-		195			233
Home equity		361		121		-		74			314
Consumer installment		240		236		61		158			223
Commercial loans		811		48		28		338			1,129
Unallocated		201		-		-		(201	)		-
Total	$	7,419	$	928	$	95	$	1,556		$	8,142

	Allowance for Loan Losses				Loans Receivable
	Ending Balance June 30, 2015 Impairment Analysis				Ending Balance June 30, 2015 Impairment Analysis
(In thousands)	Individually Evaluated		Collectively Evaluated		Individually Evaluated		Collectively Evaluated
Residential real estate	$	263	$	2,191	$	1,843	$	224,805
Residential construction and land		-		50		-		3,621
Multi-family		-		40		-		4,287
Commercial real estate		187		3,512		2,101		140,222
Commercial construction		-		233		-		8,936
Home equity		-		314		154		20,865
Consumer installment		-		223		-		4,123
Commercial loans		1		1,128		93		39,705
Unallocated		-		-		-		-
Total	$	451	$	7,691	$	4,191	$	446,564

	Activity for the year ended June 30, 2014
(In thousands)	Balance June 30, 2013		Charge-offs		Recoveries		Provision			Balance June 30, 2014
Residential real estate	$	2,627	$	420	$	10	$	514		$	2,731
Residential construction and land		37		-		-		5			42
Multi-family		139		24		7		(63	)		59
Commercial real estate		2,476		309		-		769			2,936
Commercial construction		392		-		-		(354	)		38
Home equity		275		44		-		130			361
Consumer installment		222		215		75		158			240
Commercial loans		809		205		4		203			811
Unallocated		63		-		-		138			201
Total	$	7,040	$	1,217	$	96	$	1,500		$	7,419

	Allowance for Loan Losses				Loans Receivable
	Ending Balance June 30, 2014 Impairment Analysis				Ending Balance June 30, 2014 Impairment Analysis
(In thousands)	Individually Evaluated		Collectively Evaluated		Individually Evaluated		Collectively Evaluated
Residential real estate	$	441	$	2,290	$	2,906	$	224,467
Residential construction and land		-		42		-		3,005
Multi-family		-		59		-		4,059
Commercial real estate		338		2,598		3,033		111,033
Commercial construction		-		38		-		1,558
Home equity		87		274		296		20,282
Consumer installment		-		240		-		4,208
Commercial loans		3		808		603		30,391
Unallocated		-		201		-		-
Total	$	869	$	6,550	$	6,838	$	399,003

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Premises and Equipment

12 Months Ended

Jun. 30, 2015

Premises and Equipment [Abstract]

Premises and Equipment

Note 5.  Premises and Equipment

A summary of premises and equipment at June 30, 2015 and 2014, is as follows:

(In thousands)	2015			2014
Land	$	2,883		$	2,883
Building and improvements		15,693			15,411
Furniture and equipment		4,042			3,572
Less: accumulated depreciation		(8,103	)		(7,559	)
Total premises and equipment	$	14,515		$	14,307

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Borrowings

12 Months Ended

Jun. 30, 2015

Borrowings [Abstract]

Borrowings

Note 7.  Borrowings

During the year ended June 30, 2014, the Company entered into an Irrevocable Letter of Credit Reimbursement Agreement with the Federal Home Loan Bank (“FHLB”), whereby upon The Bank of Greene County’s request, on behalf of Greene County Commercial Bank, an irrevocable letter of credit is issued to secure municipal transactional deposit accounts.  At June 30, 2015, The Bank of Greene County had pledged approximately $207.5 million of its residential mortgage portfolio as collateral for borrowing and stand-by letters of credit at the FHLB.  The maximum amount of funding available from the FHLB was $167.7 million at June 30, 2015, of which $41.7 million in borrowings were outstanding at June 30, 2015.  There were $22.9 million in short term borrowings outstanding at June 30, 2015. There were no stand-by letters of credit outstanding at June 30, 2015.  Interest rates on short term borrowings are determined at the time of borrowing.  The remaining $18.8 million consisted of long-term fixed rate, fixed term advances with a weighted average rate of 1.48% and a weighted average maturity of 40 months.  The Bank has recently increased its level of long-term borrowing to strengthen its overall interest rate risk position, to help mitigate the potential negative impact of rising interest rates.

The Bank of Greene County also pledges securities as collateral at the Federal Reserve Bank discount window for overnight borrowings.  At June 30, 2015, approximately $4.8 million of collateral was available to be pledged against potential borrowings at the Federal Reserve Bank discount window. There were no balances outstanding with the Federal Reserve Bank at June 30, 2015 or 2014.

The Bank of Greene County has established unsecured lines of credit with Atlantic Central Bankers Bank and another financial institution for $6.0 million and $5.0 million, respectively.  The lines of credit provide for overnight borrowing and the interest rate is determined at the time of the borrowing.  At June 30, 2015 and 2014 there were no balances outstanding on either of these lines of credit, and there was no activity during the years ended June 30, 2015 and 2014.

Scheduled maturities of long-term borrowings at June 30, 2015 were as follows:

(In thousands)
The year ended June 30,
2016	$	-
2017		2,500
2018		4,500
2019		5,500
2020		6,000
Due after 2020		300
	$	18,800

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Employee Benefit Plans, Change in Benefit Obligation (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Employee Benefit Plans [Abstract]
Required age to participate in defined Benefit Plan	21 years
Benefit obligation at beginning of year	$ 5,311	$ 4,971
Interest cost	220	223
Actuarial loss	428	297
Benefits paid	(502)	(180)
Benefit obligation at June 30	$ 5,457	$ 5,311

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Regulatory Matters (Details) - USD ($) $ in Thousands	Jun. 30, 2015	Jun. 30, 2014
The Bank of Greene County [Member]
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items]
Total risk-based capital, amount	$ 71,572	$ 63,918
Total risk-based capital for capital adequacy purposes, amount	32,082	27,600
Total risk-based capital to be well capitalized under prompt corrective action provisions, amount	$ 40,102	$ 34,499
Total risk-based capital, ratio (in hundredths)	17.90%	18.50%
Total risk-based capital for capital adequacy purposes, ratio (in hundredths)	8.00%	8.00%
Total risk-based capital to be well capitalized under prompt corrective action provisions, ratio (in hundredths)	10.00%	10.00%
Tier 1 risk-based capital, amount	$ 66,487	$ 59,523
Tier 1 risk-based capital for capital adequacy purposes, amount	24,061	13,800
Tier 1 risk-based capital to be well capitalized under prompt corrective action provisions, amount	$ 32,082	$ 20,700
Tier 1 risk-based capital, ratio (in hundredths)	16.60%	17.30%
Tier 1 risk-based capital for capital adequacy purposes, ratio (in hundredths)	6.00%	4.00%
Tier 1 risk-based capital to be well capitalized under prompt corrective action provisions, ratio (in hundredths)	8.00%	6.00%
Common equity tier 1 capital, amount	$ 66,487
Common equity tier 1 capital for capital adequacy purposes, amount	18,046
Common equity tier 1 capital to be well capitalized under prompt corrective action provisions, amount	$ 26,066
Common equity tier 1 capital, ratio (in hundredths)	16.60%
Common equity tier 1 capital for capital adequacy purposes, ratio (in hundredths)	4.50%
Common equity tier 1 capital to be well capitalized under prompt corrective action provisions, ratio (in hundredths)	6.50%
Tier 1 leverage ratio, amount	$ 66,487	$ 59,523
Tier 1 leverage ratio for capital adequacy purposes, amount	29,256	20,257
Tier 1 leverage ratio to be well capitalized under prompt corrective action provisions, amount	$ 36,571	$ 33,761
Tier 1 leverage ratio, ratio (in hundredths)	9.10%	8.80%
Tier 1 leverage ratio for capital adequacy purposes, ratio (in hundredths)	4.00%	3.00%
Tier 1 leverage ratio to be well capitalized under prompt corrective action provisions, ratio (in hundredths)	5.00%	5.00%
Greene County Commercial Bank [Member]
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items]
Total risk-based capital, amount	$ 19,853	$ 17,211
Total risk-based capital for capital adequacy purposes, amount	3,526	3,388
Total risk-based capital to be well capitalized under prompt corrective action provisions, amount	$ 4,408	$ 4,236
Total risk-based capital, ratio (in hundredths)	45.04%	40.60%
Total risk-based capital for capital adequacy purposes, ratio (in hundredths)	8.00%	8.00%
Total risk-based capital to be well capitalized under prompt corrective action provisions, ratio (in hundredths)	10.00%	10.00%
Tier 1 risk-based capital, amount	$ 19,853	$ 17,211
Tier 1 risk-based capital for capital adequacy purposes, amount	2,645	1,694
Tier 1 risk-based capital to be well capitalized under prompt corrective action provisions, amount	$ 3,526	$ 2,541
Tier 1 risk-based capital, ratio (in hundredths)	45.04%	40.60%
Tier 1 risk-based capital for capital adequacy purposes, ratio (in hundredths)	6.00%	4.00%
Tier 1 risk-based capital to be well capitalized under prompt corrective action provisions, ratio (in hundredths)	8.00%	6.00%
Common equity tier 1 capital, amount	$ 19,853
Common equity tier 1 capital for capital adequacy purposes, amount	1,984
Common equity tier 1 capital to be well capitalized under prompt corrective action provisions, amount	$ 2,865
Common equity tier 1 capital, ratio (in hundredths)	45.04%
Common equity tier 1 capital for capital adequacy purposes, ratio (in hundredths)	4.50%
Common equity tier 1 capital to be well capitalized under prompt corrective action provisions, ratio (in hundredths)	6.50%
Tier 1 leverage ratio, amount	$ 19,853	$ 17,211
Tier 1 leverage ratio for capital adequacy purposes, amount	8,796	8,369
Tier 1 leverage ratio to be well capitalized under prompt corrective action provisions, amount	$ 10,995	$ 10,461
Tier 1 leverage ratio, ratio (in hundredths)	9.03%	8.20%
Tier 1 leverage ratio for capital adequacy purposes, ratio (in hundredths)	4.00%	4.00%
Tier 1 leverage ratio to be well capitalized under prompt corrective action provisions, ratio (in hundredths)	5.00%	5.00%

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Employee Benefit Plans, Change in Fair Value of Plan Assets (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Employee Benefit Plans [Abstract]
Fair value of plan assets at beginning of year	$ 4,887	$ 4,637
Actual return on plan assets	96	430
Employer contributions	0	0
Benefits paid	(502)	(180)
Fair value of plan assets at June 30	4,481	4,887
Underfunded status at June 30 included in other liabilities	$ 976	$ 424

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Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Thousands	Jun. 30, 2015	Jun. 30, 2014
Accumulated Other Comprehensive Loss [Abstract]
Unrealized gains on available-for-sale securities, net of tax	$ 704	$ 416
Unrealized loss on securities transferred to held-to-maturity, net of tax	(11)	(231)
Net losses and past service liability for defined benefit plan, net of tax	(1,491)	(1,235)
Accumulated other comprehensive loss	$ (798)	$ (1,050)

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Borrowings (Tables)

12 Months Ended

Jun. 30, 2015

Borrowings [Abstract]

Scheduled Maturities of Term Borrowings

Scheduled maturities of long-term borrowings at June 30, 2015 were as follows:

(In thousands)
The year ended June 30,
2016	$	-
2017		2,500
2018		4,500
2019		5,500
2020		6,000
Due after 2020		300
	$	18,800

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Loans, Loan Balances by Internal Credit Quality Indicator (Details) $ in Thousands	12 Months Ended
	Jun. 30, 2015 USD ($) Segment	Jun. 30, 2014 USD ($)
Financing Receivable, Recorded Investment [Line Items]
Total gross loans	$ 450,755	$ 405,841
Number of segments within loan portfolio | Segment	4
Performing [Member]
Financing Receivable, Recorded Investment [Line Items]
Total gross loans	$ 442,584	395,695
Watch [Member]
Financing Receivable, Recorded Investment [Line Items]
Total gross loans	644	221
Special Mention [Member]
Financing Receivable, Recorded Investment [Line Items]
Total gross loans	1,942	2,273
Substandard [Member]
Financing Receivable, Recorded Investment [Line Items]
Total gross loans	$ 5,585	7,652
Residential Real Estate [Member]
Financing Receivable, Recorded Investment [Line Items]
Maximum loan-to-value ratio (in hundredths)	89.90%
Residential Real Estate [Member] | Residential Mortgage with Private Mortgage Insurance [Member]
Financing Receivable, Recorded Investment [Line Items]
Maximum loan-to-value ratio (in hundredths)	95.00%
Residential Real Estate [Member] | Residential Real Estate [Member]
Financing Receivable, Recorded Investment [Line Items]
Total gross loans	$ 226,648	227,373
Residential Real Estate [Member] | Residential Real Estate [Member] | Performing [Member]
Financing Receivable, Recorded Investment [Line Items]
Total gross loans	224,195	223,772
Residential Real Estate [Member] | Residential Real Estate [Member] | Watch [Member]
Financing Receivable, Recorded Investment [Line Items]
Total gross loans	638	221
Residential Real Estate [Member] | Residential Real Estate [Member] | Special Mention [Member]
Financing Receivable, Recorded Investment [Line Items]
Total gross loans	97	99
Residential Real Estate [Member] | Residential Real Estate [Member] | Substandard [Member]
Financing Receivable, Recorded Investment [Line Items]
Total gross loans	1,718	3,281
Residential Real Estate [Member] | Construction and Land [Member]
Financing Receivable, Recorded Investment [Line Items]
Total gross loans	3,621	3,005
Residential Real Estate [Member] | Construction and Land [Member] | Performing [Member]
Financing Receivable, Recorded Investment [Line Items]
Total gross loans	3,621	3,005
Residential Real Estate [Member] | Construction and Land [Member] | Watch [Member]
Financing Receivable, Recorded Investment [Line Items]
Total gross loans	0	0
Residential Real Estate [Member] | Construction and Land [Member] | Special Mention [Member]
Financing Receivable, Recorded Investment [Line Items]
Total gross loans	0	0
Residential Real Estate [Member] | Construction and Land [Member] | Substandard [Member]
Financing Receivable, Recorded Investment [Line Items]
Total gross loans	0	0
Residential Real Estate [Member] | Multi-family [Member]
Financing Receivable, Recorded Investment [Line Items]
Total gross loans	4,287	4,059
Residential Real Estate [Member] | Multi-family [Member] | Performing [Member]
Financing Receivable, Recorded Investment [Line Items]
Total gross loans	4,182	3,946
Residential Real Estate [Member] | Multi-family [Member] | Watch [Member]
Financing Receivable, Recorded Investment [Line Items]
Total gross loans	0	0
Residential Real Estate [Member] | Multi-family [Member] | Special Mention [Member]
Financing Receivable, Recorded Investment [Line Items]
Total gross loans	0	0
Residential Real Estate [Member] | Multi-family [Member] | Substandard [Member]
Financing Receivable, Recorded Investment [Line Items]
Total gross loans	105	113
Commercial Real Estate [Member] | Real Estate Mortgage [Member]
Financing Receivable, Recorded Investment [Line Items]
Total gross loans	142,323	114,066
Commercial Real Estate [Member] | Real Estate Mortgage [Member] | Performing [Member]
Financing Receivable, Recorded Investment [Line Items]
Total gross loans	138,468	109,281
Commercial Real Estate [Member] | Real Estate Mortgage [Member] | Watch [Member]
Financing Receivable, Recorded Investment [Line Items]
Total gross loans	0	0
Commercial Real Estate [Member] | Real Estate Mortgage [Member] | Special Mention [Member]
Financing Receivable, Recorded Investment [Line Items]
Total gross loans	986	1,789
Commercial Real Estate [Member] | Real Estate Mortgage [Member] | Substandard [Member]
Financing Receivable, Recorded Investment [Line Items]
Total gross loans	2,869	2,996
Commercial Real Estate [Member] | Construction [Member]
Financing Receivable, Recorded Investment [Line Items]
Total gross loans	8,936	1,558
Commercial Real Estate [Member] | Construction [Member] | Performing [Member]
Financing Receivable, Recorded Investment [Line Items]
Total gross loans	8,936	1,558
Commercial Real Estate [Member] | Construction [Member] | Watch [Member]
Financing Receivable, Recorded Investment [Line Items]
Total gross loans	0	0
Commercial Real Estate [Member] | Construction [Member] | Special Mention [Member]
Financing Receivable, Recorded Investment [Line Items]
Total gross loans	0	0
Commercial Real Estate [Member] | Construction [Member] | Substandard [Member]
Financing Receivable, Recorded Investment [Line Items]
Total gross loans	0	0
Consumer Loan [Member] | Home Equity [Member]
Financing Receivable, Recorded Investment [Line Items]
Total gross loans	21,019	20,578
Consumer Loan [Member] | Home Equity [Member] | Performing [Member]
Financing Receivable, Recorded Investment [Line Items]
Total gross loans	20,731	20,239
Consumer Loan [Member] | Home Equity [Member] | Watch [Member]
Financing Receivable, Recorded Investment [Line Items]
Total gross loans	0	0
Consumer Loan [Member] | Home Equity [Member] | Special Mention [Member]
Financing Receivable, Recorded Investment [Line Items]
Total gross loans	15	0
Consumer Loan [Member] | Home Equity [Member] | Substandard [Member]
Financing Receivable, Recorded Investment [Line Items]
Total gross loans	273	339
Consumer Loan [Member] | Consumer Installment [Member]
Financing Receivable, Recorded Investment [Line Items]
Total gross loans	4,123	4,208
Consumer Loan [Member] | Consumer Installment [Member] | Performing [Member]
Financing Receivable, Recorded Investment [Line Items]
Total gross loans	4,117	4,208
Consumer Loan [Member] | Consumer Installment [Member] | Watch [Member]
Financing Receivable, Recorded Investment [Line Items]
Total gross loans	6	0
Consumer Loan [Member] | Consumer Installment [Member] | Special Mention [Member]
Financing Receivable, Recorded Investment [Line Items]
Total gross loans	0	0
Consumer Loan [Member] | Consumer Installment [Member] | Substandard [Member]
Financing Receivable, Recorded Investment [Line Items]
Total gross loans	0	0
Commercial Loans [Member]
Financing Receivable, Recorded Investment [Line Items]
Total gross loans	39,798	30,994
Commercial Loans [Member] | Performing [Member]
Financing Receivable, Recorded Investment [Line Items]
Total gross loans	38,334	29,686
Commercial Loans [Member] | Watch [Member]
Financing Receivable, Recorded Investment [Line Items]
Total gross loans	0	0
Commercial Loans [Member] | Special Mention [Member]
Financing Receivable, Recorded Investment [Line Items]
Total gross loans	844	385
Commercial Loans [Member] | Substandard [Member]
Financing Receivable, Recorded Investment [Line Items]
Total gross loans	$ 620	$ 923

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Income Taxes

12 Months Ended

Jun. 30, 2015

Income Taxes [Abstract]

Income Taxes

Note 12.  Income Taxes

The provision for income taxes consists of the following for the years ended June 30, 2015 and 2014:

(In thousands)	2015		2014
Current expense:
Federal	$	1,722	$	2,246
State		108		273
Total current expense		1,830		2,519
Deferred expense		488		18
Total provision for income taxes	$	2,318	$	2,537

The effective tax rate differs from the federal statutory rate as follows for the years ended June 30, 2015 and 2014:

	2015			2014
Tax based on federal statutory rate		34.00	%		34.00	%
State income taxes, net of federal benefit		0.50			1.02
Tax-exempt income		(8.75	)		(7.97	)
Other, net		(1.39	)		0.94
Total income tax expense		24.36	%		27.99	%

The components of the deferred tax assets and liabilities at June 30 were as follows:

(In thousands)	2015			2014
Deferred tax assets:
Allowance for loan losses	$	3,150		$	2,870
Pension benefits		377			164
Other benefit plans		697			511
Other		114			142
Total deferred tax assets		4,338			3,687
Deferred tax liabilities:
Depreciation		1,416			1,405
Loan costs		706			634
Real estate investment trust income		2,252			1,614
Unrealized gains on securities		437			116
Other		219			-
Total deferred tax liabilities		5,030			3,769
Net deferred tax liability included in other liabilities	$	(692	)	$	(82	)

Income tax accounting guidance results in two components of income tax expense: current and deferred.  Current income tax expense reflects taxes to be paid or refunded for the current period by applying the provisions of the enacted tax law to the taxable income or excess of deductions over revenues.  The Company determines deferred income taxes using the liability (or balance sheet) method.  Under this method, the net deferred tax asset or liability is based on the tax effects of the differences between the book and tax bases of assets and liabilities and enacted changes in tax rates and laws are recognized in the period in which they occur.

Deferred income tax expense results from changes in deferred tax assets and liabilities between periods.  Deferred tax assets are reduced by a valuation allowance if, based on the weight of the evidence available, it is more likely than not that some portion or all of a deferred tax asset will not be realized.

The Company accounts for uncertain tax positions if it is more likely than not, based on technical merits, that the tax position will be realized or sustained upon examination.  The term more likely than not means a likelihood of more than 50 percent; the terms examined and upon examination also include resolution of the related appeals or litigation processes, if any.  A tax position that meets the more-likely-than-not recognition threshold is initially and subsequently measured as the largest amount of tax benefit that has a greater than 50 percent likelihood of being realized upon settlement with a taxing authority that has full knowledge of all relevant information.  The determination of whether or not a tax position has met the more-likely-than-not recognition threshold considers the facts, circumstances, and information available at the reporting date and is subject to management’s judgments.

The Company recognizes interest and penalties on income taxes, if any, as a component of the provision for income taxes.

As of June 30, 2015 and 2014, the Company did not have any uncertain tax positions.  The Company does not expect to have any changes in unrecognized tax benefits as a result of settlements with taxing authorities during the next twelve months.  As of June 30, 2015, tax years ended June 30, 2012 through June 30, 2014, remain open and are subject to Federal and State taxing authority examination.

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Regulatory Matters

12 Months Ended

Jun. 30, 2015

Regulatory Matters [Abstract]

Regulatory Matters

Note 17.  Regulatory Matters

The Bank of Greene County and its wholly-owned subsidiary, Greene County Commercial Bank, are subject to various regulatory capital requirements administered by federal banking agencies.  Failure to meet minimum capital requirements can result in certain mandatory and possibly additional discretionary actions by regulators that, if undertaken, could have a direct material impact on the Company’s consolidated financial statements.  Under capital adequacy guidelines and the regulatory framework for prompt corrective action, the Bank and the Commercial Bank must meet specific guidelines that involve quantitative measures of assets, liabilities, and certain off-balance-sheet items as calculated under regulatory accounting practices.  Capital amounts and classifications are also subject to qualitative judgments by the regulators about components, risk weightings, and other factors.  As of June 30, 2015, the most recent notification from regulators categorized the banks as “well capitalized” under the regulatory framework for prompt corrective action.  There are no conditions or events since that notification that management believes have changed the Bank’s category.

Quantitative measures established by regulation to ensure capital adequacy require The Bank of Greene County and Greene County Commercial Bank to maintain minimum amounts and ratios (set forth in the table below). In July 2013, the Office of the Comptroller of the Currency and the other federal bank regulatory agencies issued a final rule that will revise their leverage and risk-based capital requirements and the method for calculating risk-weighted assets to make them consistent with agreements that were reached by the Basel Committee on Banking Supervision and certain provisions of the Dodd-Frank Act.  Among other things, the rule establishes a new common equity Tier 1 minimum capital requirement (4.5% of risk-weighted assets), increases the minimum Tier 1 capital to risk-based assets requirement (from 4% to 6% of risk-weighted assets) and assigns a higher risk weight (150%) to exposures that are more than 90 days past due or are on nonaccrual status and to certain commercial real estate facilities that finance the acquisition, development or construction of real property.  The final rule also requires unrealized gains and losses on certain “available-for-sale” securities holdings to be included for purposes of calculating regulatory capital unless a one-time opt-out is exercised.  Additional constraints will also be imposed on the inclusion in regulatory capital of mortgage-servicing assets, defined tax assets and minority interests.  The rule limits a banking organization’s capital distributions and certain discretionary bonus payments if the banking organization does not hold a “capital conservation buffer” consisting of 2.5% of common equity Tier 1 capital to risk-weighted assets in addition to the amount necessary to meet its minimum risk-based capital requirements.  The final rule became effective for The Bank of Greene County and Greene County Commercial Bank on January 1, 2015.  The capital conservation buffer requirement will be phased in beginning January 1, 2016 and ending January 1, 2019, when the full capital conservation buffer requirement will be effective.  Management believes that, as of June 30, 2015, The Bank of Greene County and Greene County Commercial Bank met all capital adequacy requirements to which they are subject.

(Dollars in thousands)	Actual					For Capital Adequacy Purposes					To Be Well Capitalized Under Prompt Corrective Action Provisions
The Bank of Greene County	Amount		Ratio			Amount		Ratio			Amount		Ratio
As of June 30, 2015:
Total risk-based capital	$	71,572		17.9	%	$	32,082		8.0	%	$	40,102		10.0	%
Tier 1 risk-based capital		66,487		16.6			24,061		6.0			32,082		8.0
Common equity tier 1 capital		66,487		16.6			18,046		4.5			26,066		6.5
Tier 1 leverage ratio		66,487		9.1			29,256		4.0			36,571		5.0
As of June 30, 2014:
Total risk-based capital	$	63,918		18.5	%	$	27,600		8.0	%	$	34,499		10.0	%
Tier 1 risk-based capital		59,523		17.3			13,800		4.0			20,700		6.0
Tier 1 leverage ratio		59,523		8.8			20,257		3.0			33,761		5.0
Greene County Commercial Bank
As of June 30, 2015:
Total risk-based capital	$	19,853		45.04	%	$	3,526		8.0	%	$	4,408		10.0	%
Tier 1 risk-based capital		19,853		45.04			2,645		6.0			3,526		8.0
Common equity tier 1 capital		19,853		45.04			1,984		4.5			2,865		6.5
Tier 1 leverage ratio		19,853		9.03			8,796		4.0			10,995		5.0
As of June 30, 2014:
Total risk-based capital	$	17,211		40.6	%	$	3,388		8.0	%	$	4,236		10.0	%
Tier 1 risk-based capital		17,211		40.6			1,694		4.0			2,541		6.0
Tier 1 leverage ratio		17,211		8.2			8,369		4.0			10,461		5.0

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Securities, Securities by Contractual Maturity (Details) - USD ($) $ in Thousands	Jun. 30, 2015	Jun. 30, 2014
Available-for-sale Debt Securities, Amortized Cost [Abstract]
Within one year	$ 41,951
After one year through five years	9,235
After five years through ten years	540
After ten years	0
Total available-for-sale debt securities	51,726
Mortgage-backed and asset-backed securities	33,098
Equity securities	62	$ 62
Amortized cost	84,886	55,473
Available-for-sale Debt Securities, Fair Value [Abstract]
Within one year	41,972
After one through five years	9,669
After five through ten years	570
After ten years	0
Total available-for-sale debt securities	52,211
Mortgage-backed and asset-backed securities	33,686
Equity securities	137	160
Estimated fair value	86,034	56,151
Held-to-maturity Debt Securities, Amortized Cost [Abstract]
Within one year	12,371
After one year through five years	44,217
After five years through ten years	20,044
After ten years	7,661
Total held-to-maturity debt securities	84,293
Mortgage-backed	84,707
Amortized cost	169,000	181,946
Held-to-maturity Debt Securities, Fair Value [Abstract]
Within one year	12,554
After one year through five years	45,172
After five years through ten years	20,497
After ten years	7,953
Total held-to-maturity debt securities	86,176
Mortgage-backed securities	85,800
Estimated Fair Value	171,976	181,932
Total Securities [Abstract]
Amortized cost	253,886	237,419
Estimated fair value	258,010	238,083
Securities pledged as collateral for deposits in excess of FDIC insurance limits, fair value	223,100	210,000
Securities pledged as collateral for potential borrowings at the Federal Reserve Bank discount window	$ 4,800	$ 5,200

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Operating Leases (Tables)

12 Months Ended

Jun. 30, 2015

Operating Leases [Abstract]

Schedule of Non-Cancelable Lease Commitments

Minimum non-cancelable lease commitments for future years ending June 30 are as follows:

(In thousands)

The year ended June 30,	Annual Lease Payments
2016	$	152
2017		121
2018		95
2019		34
2020		14
Thereafter		6
Total payments	$	422

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Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands		12 Months Ended
		Jun. 30, 2015	Jun. 30, 2014
Consolidated Statements of Comprehensive Income [Abstract]
Net income		$ 7,189	$ 6,528
Other comprehensive income (loss):
Unrealized holding gains (losses) on available-for-sale securities, net of income taxes of $182 and ($327), respectively		288	(518)
Accretion of unrealized loss on securities transferred to held-to-maturity, net of income taxes of $139 and $175, respectively	[1]	220	277
Pension actuarial loss, net of income taxes of ($162) and ($37)	[2]	(256)	(59)
Total other comprehensive income (loss), net of taxes		252	(300)
Comprehensive income		$ 7,441	$ 6,228

[1] The accretion of the unrealized holding losses in accumulated other comprehensive income (loss) at the date of transfer partially offsets the amortization of the difference between the par value and fair value of the investment securities at the date of transfer, and is an adjustment of interest income.

[2] These accumulated other comprehensive income components are included in the computation of net periodic benefit cost and are included in salaries and employee benefit expense within noninterest expense (see Note 9 for additional details).

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Condensed Financial Statements of Greene County Bancorp, Inc., Condensed Statements of Comprehensive Income (Details) - USD ($) $ in Thousands		12 Months Ended
		Jun. 30, 2015	Jun. 30, 2014
Condensed Financial Statements, Captions [Line Items]
Net income		$ 7,189	$ 6,528
Other comprehensive income (loss) [Abstract]
Unrealized holding gains (losses) on available-for-sale securities, net of income taxes of $182 and ($327), respectively		288	(518)
Accretion of unrealized loss on securities transferred to held-to-maturity, net of income taxes of $139 and $175, respectively	[1]	220	277
Pension actuarial loss, net of income taxes of ($162) and ($37)	[2]	(256)	(59)
Total other comprehensive income (loss), net of taxes		252	(300)
Comprehensive income		7,441	6,228
Unrealized holding gains (losses) on available-for-sale securities, income taxes		182	(327)
Accretion of unrealized loss on securities transferred to held-to-maturity, income taxes		139	175
Pension actuarial gain, income taxes		(162)	(37)
Parent Company [Member]
Condensed Financial Statements, Captions [Line Items]
Net income		7,189	6,528
Other comprehensive income (loss) [Abstract]
Unrealized holding gains (losses) on available-for-sale securities, net of income taxes of $182 and ($327), respectively		288	(518)
Accretion of unrealized loss on securities transferred to held-to-maturity, net of income taxes of $139 and $175, respectively	[3]	220	277
Pension actuarial loss, net of income taxes of ($162) and ($37)	[2]	(256)	(59)
Total other comprehensive income (loss), net of taxes		252	(300)
Comprehensive income		7,441	6,228
Unrealized holding gains (losses) on available-for-sale securities, income taxes		182	(327)
Accretion of unrealized loss on securities transferred to held-to-maturity, income taxes		139	175
Pension actuarial gain, income taxes		$ (162)	$ (37)

[1] The accretion of the unrealized holding losses in accumulated other comprehensive income (loss) at the date of transfer partially offsets the amortization of the difference between the par value and fair value of the investment securities at the date of transfer, and is an adjustment of interest income.

[2] These accumulated other comprehensive income components are included in the computation of net periodic benefit cost and are included in salaries and employee benefit expense within noninterest expense (see Note 9 for additional details).

[3] The accretion of the unrealized holding losses in accumulated other comprehensive income at the date of transfer partially offsets the amortization of the difference between the par value and fair value of the investment securities at the date of transfer, and is an adjustment of interest income.

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Summary of Significant Accounting Policies

12 Months Ended

Jun. 30, 2015

Summary of Significant Accounting Policies [Abstract]

Summary of Significant Accounting Policies

Note 1. Summary of significant accounting policies

Basis of Presentation

The consolidated financial statements include the accounts of Greene County Bancorp, Inc. (the “Company”) and its subsidiaries, The Bank of Greene County (the “Bank”) and Greene Risk Management, Inc., and the Bank’s subsidiaries Greene County Commercial Bank and Greene Property Holdings, Ltd.  All material inter-company accounts and transactions have been eliminated.  Amounts in the prior year’s consolidated financial statements have been reclassified whenever necessary to conform to the current year’s presentation. These reclassifications had no effect on net income or shareholders’ equity as previously reported.  The accompanying consolidated financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (“GAAP”).  These consolidated financial statements consider events that occurred through the date the consolidated financial statements were issued.

Nature of Operations

Greene County Bancorp, Inc.’s primary business is the ownership and operation of its subsidiaries.  The Bank of Greene County has 13 full-service offices and an operations center located in its market area consisting of the Hudson Valley of New York.  The Bank of Greene County is primarily engaged in the business of attracting deposits from the general public in The Bank of Greene County’s market area, and investing such deposits, together with other sources of funds, in loans and investment securities.  Greene County Commercial Bank’s primary business is to attract deposits from, and provide banking services to, local municipalities.  Greene Property Holdings, Ltd. was formed as a New York corporation that has elected under the Internal Revenue Code to be a real estate investment trust.  Currently, certain mortgages and notes held by The Bank of Greene County are transferred and beneficially owned by Greene Property Holdings, Ltd.  The Bank of Greene County continues to service these loans.  Greene Risk Management, Inc. was formed in December 2014 as a pooled captive insurance company subsidiary of Greene County Bancorp, Inc., incorporated in the State of Nevada.  The purpose of this company is to provide additional insurance coverage for the Company and its subsidiaries related to the operations of the Company for which insurance may not be economically feasible.

Charter

Greene County Bancorp, Inc. and its parent mutual holding company (the “MHC”) are federally chartered and regulated and examined by the Federal Reserve Board.  The Bank of Greene County, the subsidiary of Greene County Bancorp, Inc., is also federally chartered and regulated and examined by the Office of the Comptroller of the Currency (the “OCC”).

Greene County Commercial Bank is a New York State-chartered financial institution, regulated and examined by the New York State Banking Department.  Greene Property Holdings, Ltd. is a New York corporation.

As a federally chartered savings bank, The Bank of Greene County must maintain at least 65% of its “portfolio assets” (total assets minus goodwill and other intangible assets, office property and specified liquid investments up to 20% of total assets) in certain “qualified thrift investments” (primarily loans to purchase, refinance, construct, improve or repair domestic residential housing, home equity loans, securities backed by or representing an interest in mortgages on domestic residential housing, and Federal Home Loan Bank stock) in at least 9 months out of every 12 month period.  A savings institution that fails the qualified thrift lender test is subject to certain operating restrictions and may be required to convert to a bank charter.  At June 30, 2015 and 2014 and for the years then ended, The Bank of Greene County satisfied the requirement of the qualified thrift lender test.

Use of Estimates

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 loan losses and the assessment of other-than-temporary security impairment.

While management uses available information to recognize losses on loans, future additions to the allowance for loan losses (the “Allowance”) may be necessary, based on changes in economic conditions, asset quality or other factors.  In addition, various regulatory authorities, as an integral part of their examination process, periodically review the Allowance.  Such authorities may require the Company to recognize additions to the Allowance based on their judgments of information available to them at the time of their examination.

Greene County Bancorp, Inc. makes an assessment to determine whether there have been any events or economic circumstances to indicate that a security on which there is an unrealized loss is impaired on an other-than-temporary basis.  The Company considers many factors including the severity and duration of the impairment; the intent and ability of the Company to hold the security for a period of time sufficient for a recovery in value; recent events specific to the issuer or industry; and for debt securities, intent to sell the security, whether it is more likely than not we will be required to sell the security before recovery, whether loss is expected, external credit ratings and recent downgrades.  Securities on which there is an unrealized loss that is deemed to be other-than-temporary are written down to fair value through earnings.

Cash and Cash Equivalents

Cash and cash equivalents include cash on hand, amounts due from banks, interest-bearing deposits at other financial institutions, investments (with original maturity of three months or less), and overnight federal funds sold.  The amounts of interest-bearing deposits included as cash equivalents at June 30, 2015 and 2014 were $7.0 million and $4.8 million, respectively.

Securities

Greene County Bancorp, Inc. has classified its investments in debt and equity securities as either available-for-sale or held-to-maturity.  Available-for-sale securities are reported at fair value, with net unrealized gains and losses reflected in the accumulated other comprehensive income component of shareholders’ equity, net of applicable income taxes.  Held-to-maturity securities are those debt securities which management has the intent and the Company has the ability to hold to maturity and are reported at amortized cost.  The Company does not have trading securities in its portfolio.

Realized gains or losses on security transactions are reported in earnings and computed using the specific identification cost basis.  Fair values of securities are based on quoted market prices, where available.  Valuation of securities is further described in Note 16.  Amortization of bond premiums and accretion of bond discounts are amortized over the expected life of the securities using the interest method.

When the fair value of a held-to-maturity or available-for-sale security is less than its amortized cost basis, an assessment is made as to whether other-than-temporary impairment (“OTTI”) is present.  The Company considers numerous factors when determining whether a potential OTTI exists and the period over which the debt security is expected to recover.  The principal factors considered are (1) the length of time and the extent to which the fair value has been less than the amortized cost basis, (2) the financial condition of the issuer (and guarantor, if any) and adverse conditions specifically related to the security, industry or geographic area, (3) failure of the issuer of the security to make scheduled interest or principal payments, (4) any changes to the rating of the security by a rating agency, and (5) the presence of credit enhancements, if any, including the guarantee of the federal government or any of its agencies.

For debt securities, OTTI is considered to have occurred if (1) the Company intends to sell the security before recovery of its amortized cost basis, (2) it is more likely than not the Company will be required to sell the security before recovery of its amortized cost basis, or (3) if the present value of expected cash flows is not sufficient to recover the entire amortized cost basis.  In determining the present value of expected cash flows, the Company discounts the expected cash flows at the effective interest rate implicit in the security at the date of acquisition.  In estimating cash flows expected to be collected, the Company uses available information with respect to security prepayment speeds, default rates and severity.  In determining whether OTTI has occurred for equity securities, the Company considers the applicable factors described above and the intent and ability of the Company to retain its investment in the issuer for a period of time sufficient to allow for any anticipated recovery in fair value.

For debt securities, credit-related OTTI is recognized in earnings while noncredit related OTTI on securities not expected to be sold is recognized in other comprehensive income/loss (“OCI”).  Credit-related OTTI is measured as the difference between the present value of an impaired security’s expected cash flows and its amortized cost basis.  Noncredit-related OTTI is measured as the difference between the fair value of the security and its amortized cost less any credit-related losses recognized.  For securities classified as held-to-maturity, the amount of OTTI recognized in OCI is accreted to the credit-adjusted expected cash flow amounts of the securities over future periods.  For equity securities, the entire amount of OTTI is recognized in earnings.

Loans

Loans are stated at unpaid principal balances, less the allowance for loan losses and net deferred loan origination fees and costs.  Interest on loans is accrued and credited to income based upon the principal amount outstanding.  Unearned discount on installment loans is recognized as income over the term of the loan, principally using a method that approximates the effective yield method.  Nonrefundable loan fees and related direct costs are deferred and amortized over the life of the loan as an adjustment to loan yield using the effective interest method.

Allowance for Loan Losses

The allowance for loan losses is maintained by a provision for loan losses charged to expense, reduced by net charge-offs and increased by recoveries of loans previously charged off.  The level of the allowance is based on management’s evaluation of the collectability of the loan portfolio, including the nature of the portfolio, credit concentrations, trends in historical loss experience, specific impaired loans, payment status of the loan and economic conditions.  The Bank of Greene County considers smaller balance residential mortgages, home equity loans, commercial real estate, business loans and installment loans to customers as small, homogeneous loans, which are evaluated for impairment collectively based on historical loss experience.  Larger balance residential, commercial real estate mortgage and business loans are reviewed individually and considered impaired if it is probable that The Bank of Greene County will not be able to collect scheduled payments of principal and interest when due, according to the contractual terms of the loan agreements.  The measurement of impaired loans is generally based on the fair value of the underlying collateral, less estimated costs to sell.  The majority of The Bank of Greene County loans, including most nonaccrual loans, are small homogenous loan types adequately supported by collateral.  As a result, the level of impaired loans may only be a portion of nonaccrual loans.  Loans that are delinquent or slow paying may not be impaired.  Management considers the payment status of loans in the process of evaluating the adequacy of the allowance for loan losses among other factors.  Loans that are either delinquent a minimum of 60 days or are on nonaccrual status, and are not individually considered impaired, are either designated as Special Mention or Substandard, and the allocation of the allowance for loan loss is based upon the risk associated with such designation.

Income Recognition on Impaired and Nonaccrual loans

The Bank of Greene County generally places a loan, including impaired loans, on nonaccrual status when it is specifically determined to be impaired or when principal and interest is delinquent for 90 days or more.  Any unpaid interest previously accrued on these loans is reversed from income.  When a loan is specifically determined to be impaired, collection of interest and principal are generally applied as a reduction to principal outstanding until the collection of the remaining balance is reasonably assured.  Interest income on all nonaccrual loans is recognized on a cash basis.

Foreclosed Real Estate (FRE)

FRE consists of properties acquired through mortgage loan foreclosure proceedings or in full or partial satisfaction of loans.  FRE is initially recorded at fair value (less estimated costs to sell) at the date the collateral is acquired establishing a new cost basis and any shortfall is charged to the allowance for loan losses at this time.  Subsequently, management reviews the value of FRE and write-downs, if any, are charged to expense.  All expenses and income related to FRE are included in consolidated results of operations as part of noninterest expense.

Premises and Equipment

Premises and equipment are stated at cost less accumulated depreciation.  Depreciation is computed using principally the straight-line method over the estimated useful lives of the related assets (39 years for building and improvements, 3-8 years for furniture and equipment).  Maintenance and repairs are typically charged to expense when incurred.  Gains and losses from sales or other dispositions of premises and equipment are included in consolidated results of operations.  Leasehold improvements are amortized over the lesser of the related terms of the leases or their useful life.

Treasury Stock

Common stock repurchases are recorded at cost and then held as treasury stock.  From time to time, Greene County Bancorp, Inc. may repurchase shares of common stock under an approved plan if, in its judgment, such shares are an attractive investment, in view of the current price at which the common stock is trading relative to Greene County Bancorp, Inc.’s earnings per share, book value per share and general market and economic factors.  The Company has a stock repurchase program which allows for the repurchase of  up to 92,346 shares. As of June 30, 2015, 62,478 shares had been repurchased under this plan.  There were no shares repurchased during fiscal 2015 or 2014.  The Company currently does not intend to repurchase any additional shares under this stock repurchase program. Common stock may also be acquired in order to have shares available for issuance under the Stock Option Plans.  See Note 10 to the consolidated financial statements, Stock-Based Compensation, for more information regarding these plans.  No repurchases of stock were made during the year ended June 30, 2015 or 2014.

Federal Home Loan Bank Stock

Federal law requires a member institution of the Federal Home Loan Bank (“FHLB”) system to hold stock of its district FHLB according to a predetermined formula.  This stock is restricted in that it can only be sold to the FHLB or to another member institution, and all sales of FHLB stock must be at par.  As a result of these restrictions, FHLB stock is carried at cost.  FHLB stock is held as a long-term investment and its value is determined based on the ultimate recoverability of the par value.  Impairment of this investment is evaluated quarterly and is a matter of judgment that reflects management’s view of the FHLB’s long-term performance, which includes factors such as the following: its operating performance; the severity and duration of declines in the fair value of its net assets related to its capital stock amount; its commitment to make payments required by law or regulation and the level of such payments in relation to its operating performance; the impact of legislative and regulatory changes on the FHLB, and accordingly, on the members of the FHLB; and its liquidity and funding position.  After evaluating these considerations, Greene County Bancorp, Inc. concluded that the par value of its investment in FHLB stock will be recovered and, therefore, no other-than-temporary impairment charge was recorded during the years ended June 30, 2015 or 2014.

Advertising

Greene County Bancorp, Inc. follows a policy of charging the costs of advertising to expense as incurred.  Advertising costs included in other operating expenses were $294,000 and $278,000 for the years ended June 30, 2015 and 2014, respectively.

Transfers of Financial Assets

Transfers of financial assets are accounted for as sales when control over the assets has been surrendered.  Control over transferred assets is deemed to be surrendered when (1) the assets have been isolated from the Company, (2) the transferee obtains the right (free of conditions that constrain it from taking advantage of the right) to pledge or exchange the transferred assets, and (3) the Company does not maintain effective control over the transferred assets through an agreement to repurchase them before their maturity.

Off-Balance Sheet Credit Related Financial Instruments

In the ordinary course of business, the Company has entered into commitments to extend credit, including commitments under lines of credit.  Such financial instruments are recorded when they are funded.

Income Taxes

Provisions for income taxes are based on taxes currently payable or refundable and deferred income taxes on temporary differences between the tax basis of assets and liabilities and their reported amounts in the consolidated financial statements.  Deferred tax assets and liabilities are reported at currently enacted income tax rates applicable to the period in which the deferred tax assets and liabilities are expected to be realized or settled.

Earnings Per Share (EPS)

Basic EPS is computed by dividing net income by the weighted average number of common shares outstanding during the period.  Diluted earnings per share is computed in a manner similar to that of basic earnings per share except that the weighted-average number of common shares outstanding is increased to include the number of incremental common shares that would have been outstanding under the treasury stock method if all potentially dilutive common shares (such as stock options) issued became vested during the period.  Unallocated common shares held by the ESOP are not included in the weighted-average number of common shares outstanding for either the basic or diluted earnings per share calculations.

Impact of Recent Accounting Pronouncements

In January 2014, the Financial Accounting Standards Board (“FASB”) issued an amendment (ASU 2014-04) to its guidance on “Receivables – Troubled Debt Restructurings by Creditors (Subtopic 310-40): Reclassification of Residential Real Estate Collateralized Consumer Mortgage Loans upon Foreclosure”.  This Update has been issued to clarify when an in substance repossession or foreclosure occurs, that is, when a creditor should be considered to have received physical possession of residential real estate property collateralizing a consumer mortgage loan such that the loan receivable should be derecognized and the real estate property recognized. An entity can elect to adopt the amendments in this Update using either a modified retrospective transition method or a prospective transition method. The amendments in this Update are effective for public business entities for annual periods, and interim periods within those annual periods, beginning after December 15, 2014. Early adoption is permitted.  The adoption of these amendments is not expected to have an effect on our consolidated results of operations or financial position.

In May 2014, the FASB issued and amendment (ASU 2014-09) to is guidance on “Revenue from Contracts with Customers (Topic 606).  The objective of the ASU is to align the recognition of revenue with the transfer of promised goods or services provided to customers in an amount that reflects the consideration which the entity expects to be entitled in exchange for those goods or services.  This ASU will replace most existing revenue recognition guidance under GAAP when it becomes effective.  The amendments in this ASU are effective for public business entities for annual periods, beginning after December 15, 2016.  The Company has not yet determined the effect of the standard on its ongoing financial reporting.

In August 2014, the FASB issued an amendment (ASU 2014-14) to its guidance on “Receivables – Troubled Debt Restructurings by Creditors (Subtopic 310-40)”.  The objective of the ASU is to reduce the diversity in how creditors classify government-guaranteed mortgage loans, including FHA or VA guaranteed loans, upon foreclosure, to provide more decision-useful information about a creditor’s foreclosed mortgage loans that are expected to be recovered, at least in part, through government guarantees.  The amendments in this Update are effective for public business entities for annual periods, and interim periods within those annual periods, beginning after December 15, 2017. Public entities would be permitted to elect to early adopt for annual reporting periods beginning after December 15, 2016.  The adoption of this guidance is not expected to have a material impact on our consolidated results of operations or financial position.

In January 2015, the FASB issued an Update (ASU 2015-01) to its guidance on “Income Statement-Extraordinary and Unusual Items (Subtopic 225-20)”.  The objective of the ASU is to simplify the income statement presentation by eliminating the concept of extraordinary items, and will align GAAP more closely with International Accounting Standards which prohibits the presentation and disclosure of extraordinary items.  The amendments in this Update are effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2015. The adoption of this guidance is not expected to have a material impact on our consolidated results of operations or financial position.

In May 2015, the FASB issued an Update (ASU 2015-09) to its guidance on “Financial Services-Insurance (Topic 944): Disclosures about Short-Duration Contracts”.  The objective of the ASU is to improve the transparency of significant estimates made in measuring liabilities related to short-duration insurance contracts, improve comparability by requiring consistent disclosure of information, and provide financial statement users with additional information to facilitate analysis of the amount, timing, and uncertainty of cash flows arising from contracts issued by insurance entities and the development of loss reserve estimates.  For public business entities, the amendments in this Update are effective for annual periods beginning after December 15, 2015, and interim periods within annual periods beginning after December 15, 2016.  The Company has not yet determined the effect of the standard on its ongoing financial reporting.

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Deposits, Schedule of Deposits (Details) - USD ($)	Jun. 30, 2015	Jun. 30, 2014
Deposits [Abstract]
Noninterest-bearing deposits	$ 73,359,000	$ 67,446,000
Certificates of deposit	43,121,000	48,900,000
Savings deposits	163,927,000	165,227,000
Money market deposits	103,724,000	87,363,000
NOW deposits	238,586,000	220,638,000
Total deposits	622,717,000	589,574,000
Advance payments by borrowers for taxes and insurance	$ 6,092,000	$ 5,495,000

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Fair Value Measurements and Fair Value of Financial Instruments, Fair Value, Assets and Liabilities Measured on Nonrecurring Basis (Details) - Nonrecurring [Member] - USD ($) $ in Thousands	Jun. 30, 2015	Jun. 30, 2014
Impaired Loans [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value	$ 922	$ 3,527
Foreclosed Real Estate [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value	490	382
Level 1 [Member] | Impaired Loans [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value	0	0
Level 1 [Member] | Foreclosed Real Estate [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value	0	0
Level 2 [Member] | Impaired Loans [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value	0	0
Level 2 [Member] | Foreclosed Real Estate [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value	0	0
Level 3 [Member] | Impaired Loans [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value	922	3,527
Level 3 [Member] | Foreclosed Real Estate [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value	$ 490	$ 382

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Employee Benefit Plans, Schedule of Assumptions Used (Details)	12 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Employee Benefit Plans [Abstract]
Projected benefit obligation: Discount rate (in hundredths)	4.32%	4.22%
Net periodic pension expense: Amortization period	14 years	15 years
Net periodic pension expense: Discount rate (in hundredths)	4.22%	4.57%
Net periodic pension expense: Expected long-term rate of return on plan assets (in hundredths)	7.00%	7.00%
Compensation rate for frozen plan (in hundredths)	0.00%

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Condensed Financial Statements of Greene County Bancorp, Inc.

12 Months Ended

Jun. 30, 2015

Condensed Financial Statements of Greene County Bancorp, Inc. [Abstract]

Condensed Financial Statements of Greene County Bancorp, Inc.

Note 18.  Condensed Financial Statements of Greene County Bancorp, Inc.

The following condensed financial statements summarize the financial position and the results of operations and cash flows of Greene County Bancorp, Inc. as of and for the years ended June 30, 2015 and 2014.

Greene County Bancorp, Inc.

Condensed Statements of Financial Condition

As of June 30, 2015 and 2014

(In thousands)

ASSETS	2015		2014
Cash and cash equivalents	$	544	$	2,817
Investment in subsidiaries		66,412		58,419
Prepaid expenses and other assets		21		16
Total assets	$	66,977	$	61,252
LIABILITIES AND SHAREHOLDERS’ EQUITY
Total liabilities	$	57	$	52
Total shareholders’ equity		66,920		61,200
Total liabilities and shareholders’ equity	$	66,977	$	61,252

Greene County Bancorp, Inc.

Condensed Statements of Income

For the Years Ended June 30, 2015 and 2014

(In thousands)

	2015		2014
INCOME:
Equity in undistributed net income of subsidiaries	$	7,491	$	4,682
Dividend distributed by subsidiary		4		2,004
Interest-earning deposits		5		7
Total income		7,500		6,693
OPERATING EXPENSES:
Legal fees		201		62
Other		110		103
Total operating expenses		311		165
Net income	$	7,189	$	6,528

Greene County Bancorp, Inc.

Condensed Statements of Comprehensive Income

For the Years Ended June 30, 2015 and 2014

(In thousands)

	2015			2014
Net income	$	7,189		$	6,528
Other comprehensive income (loss) :
Unrealized holding gains (losses) on available-for-sale securities, net of income taxes of $182 and ($327), respectively		288			(518	)
Accretion of unrealized loss on securities transferred to held-to-maturity, net of income taxes of $139 and $175, respectively(1)		220			277
Pension actuarial loss, net of income taxes of ($162) and ($37)(2)		(256	)		(59	)
Total other comprehensive income (loss), net of taxes		252			(300	)
Comprehensive income	$	7,441		$	6,228

⁽¹⁾ The accretion of the unrealized holding losses in accumulated other comprehensive income at the date of transfer partially offsets the amortization of the difference between the par value and fair value of the investment securities at the date of transfer, and is an adjustment of interest income.

⁽²⁾ These accumulated other comprehensive income components are included in the computation of net periodic benefit cost and are included in salaries and employee benefit expense within noninterest expense (see Note 9 for additional details).

Greene County Bancorp, Inc.

Condensed Statements of Cash Flows

For the Years Ended June 30, 2015 and 2014

(In thousands)

Cash flow from operating activities:	2015			2014
Net Income	$	7,189		$	6,528
Adjustments to reconcile net income to cash provided by (used by) operating activities:
Undistributed earnings of subsidiaries		(7,491	)		(4,682	)
Tax benefit of stock based compensation		(16	)		(28	)
Net increase in prepaid expenses and other assets		(5	)		-
Net increase in total liabilities		21			20
Net cash provided by (used by) operating activities		(302	)		1,838
Cash flows from Investing Activities:
Investment in subsidiary		(250	)		-
Net cash used by investing activities		(250	)		-
Cash flows from financing activities:
Payment of cash dividends		(1,798	)		(1,335	)
Proceeds from exercise of stock options		61			172
Excess tax benefit from share-based payment arrangements		16			28
Net cash used in financing activities		(1,721	)		(1,135	)
Net (decrease) increase in cash and cash equivalents		(2,273	)		703
Cash and cash equivalents at beginning of year		2,817			2,114
Cash and cash equivalents at end of year	$	544		$	2,817

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Stock-Based Compensation, Phantom Stock Option Plan and Long-term Incentive Plan (Details) - USD ($)	12 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Stock option activity, shares [Roll Forward]
Options granted (in shares)	0	0
2011 Phantom Stock Option and Long-term Incentive Plan [Member]
Share-based compensation arrangement by share-based payment award [Line Items]
Number of shares authorized under the plan (in shares)	1,800,000	900,000
Stock option activity, shares [Roll Forward]
Outstanding at beginning of year (in shares)	665,426	462,464
Options granted (in shares)	235,380	236,308
Options forfeited (in shares)	0	(6,840)
Options paid in cash upon vesting (in shares)	(272,052)	(26,506)
Outstanding at year end (in shares)	628,754	665,426
Cash paid on options vested	$ 845,000	$ 26,900
Allocated share-based compensation expense	830,000	786,800
Total liability for the long-term incentive plan	$ 1,100,000	$ 1,200,000
2011 Phantom Stock Option and Long-term Incentive Plan [Member] | Minimum [Member]
Share-based compensation arrangement by share-based payment award [Line Items]
Strike price of phantom stock options as percent of book value (in hundredths)	100.00%

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Earnings Per Share (Tables)

12 Months Ended

Jun. 30, 2015

Earnings Per Share [Abstract]

Schedule of Earnings Per Share, Basic and Diluted

Basic earnings per share is computed by dividing net income by the weighted average number of common shares outstanding during the period.  Diluted earnings per share is computed in a manner similar to that of basic earnings per share except that the weighted-average number of common shares outstanding is increased to include the number of incremental common shares that would have been outstanding under the treasury stock method if all potentially dilutive common shares (such as stock options) issued became vested during the period.  There were no anti-dilutive securities or contracts outstanding during the years ended June 30, 2015 and 2014.

	Net Income		Weighted Average Number Of Shares Outstanding		Earnings per Share
Year ended June 30, 2015	$	7,189,000
Basic				4,218,671	$	1.70
Effect of dilutive stock options				30,016		(0.01	)
Diluted				4,248,687	$	1.69
Year ended June 30, 2014	$	6,528,000
Basic				4,205,945	$	1.55
Effect of dilutive stock options				35,311		(0.01	)
Diluted				4,241,256	$	1.54

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Earnings Per Share

12 Months Ended

Jun. 30, 2015

Earnings Per Share [Abstract]

Earnings Per Share

Note 11.  Earnings Per Share

Basic earnings per share is computed by dividing net income by the weighted average number of common shares outstanding during the period.  Diluted earnings per share is computed in a manner similar to that of basic earnings per share except that the weighted-average number of common shares outstanding is increased to include the number of incremental common shares that would have been outstanding under the treasury stock method if all potentially dilutive common shares (such as stock options) issued became vested during the period.  There were no anti-dilutive securities or contracts outstanding during the years ended June 30, 2015 and 2014.

	Net Income		Weighted Average Number Of Shares Outstanding		Earnings per Share
Year ended June 30, 2015	$	7,189,000
Basic				4,218,671	$	1.70
Effect of dilutive stock options				30,016		(0.01	)
Diluted				4,248,687	$	1.69
Year ended June 30, 2014	$	6,528,000
Basic				4,205,945	$	1.55
Effect of dilutive stock options				35,311		(0.01	)
Diluted				4,241,256	$	1.54