Subsequent events

12 Months Ended

Jun. 30, 2020

Subsequent events [Abstract]

Subsequent events

Note 20.  Subsequent events

On July 21, 2020, Greene County Bancorp, Inc. announced that its Board of Directors had approved a quarterly cash dividend of $0.12 per share on the Company’s common stock. The dividend reflects an annual cash dividend rate of $0.48 per share which represents a 9.1% increase from the previous annual cash dividend rate of $0.44 per share. The dividend was payable to stockholders of record as of August 14, 2020, and was paid on August 31, 2020.  Greene County Bancorp, MHC waived its right to receive this dividend.

At June 30, 2020 the Company had $10.9 million in borrowings outstanding with the Federal Reserve Bank under the Paycheck Protection Program Liquidity Facility.  This loan was repaid in full in July 2020.  The Company continues to monitor its liquidity needs and this facility remains available to the Company based on PPP loans outstanding to be pledged as collateral through December 31, 2020 should additional advances be necessary.