Borrowings	12 Months Ended
Jun. 30, 2021
Borrowings [Abstract]
Borrowings	Note 7. Borrowings At June 30, 2021, The Bank of Greene County had pledged approximately $405.3 million of its residential and commercial mortgage portfolios as collateral for borrowings and stand-by letters of credit at the Federal Home Loan Bank of New York (“FHLB”). The maximum amount of funding available from the FHLB was $296.3 million at June 30, 2021, with no borrowings, stand-by letters of credit and overnight borrowings outstanding at June 30, 2021. Interest rates on short term borrowings are determined at the time of borrowing. There were no long-term fixed rate, fixed term advances at June 30, 2021. At June 30, 2020, The Bank of Greene County had pledged approximately $321.5 million of its residential and commercial mortgage portfolios as collateral for borrowings and stand-by letters of credit at the Federal Home Loan Bank of New York (“FHLB”). The maximum amount of funding available from the FHLB was $230.5 million at June 30, 2020, of which $7.6 million in borrowings and $70.7 million of stand-by letters of credit were outstanding at June 30, 2020. There were no overnight borrowings outstanding at June 30, 2020. Interest rates on short term borrowings are determined at the time of borrowing. Long-term fixed rate, fixed term advances totaled $7.6 million at June 30, 2020, with a weighted average rate of 1.73% and a weighted average maturity of 15 months. The Bank of Greene County has established an Irrevocable Letter of Credit Reimbursement Agreement with the FHLB, whereby upon The Bank of Greene County’s request, on behalf of Greene County Commercial Bank, an irrevocable stand-by letter of credit is issued to secure municipal transactional deposit accounts. At June 30, 2021, there was no outstanding amount of stand-by letters of credit with the FHLB which have been issued to secure municipal transactional deposit accounts, on behalf of Greene County Commercial Bank. There were $70.7 million of stand-by letters of credit issued and outstanding at June 30, 2020. The Bank of Greene County also pledges securities as collateral at the Federal Reserve Bank discount window for overnight borrowings. At June 30, 2021, there were no balances outstanding with the Federal Reserve Bank discount window. At June 30, 2020, approximately $5.5 million of collateral was available to be pledged against potential borrowings at the Federal Reserve Bank discount window. The Federal Reserve instituted a program, the Paycheck Protection Plan Liquidity Facility (“PPPLF”), to provide banks additional funding for liquidity whereby the PPP loans are pledged as collateral. The PPPLF allowed banks to offer these loans to local businesses while maintaining strong liquidity to meet cash flow needs. At June 30, 2020, the Company had borrowed $10.9 million through the PPPLF. Principal repayment of these borrowings will be made no later than upon receipt of payment on the underlying loans being pledged as collateral and interest will be charged at a rate of 0.35%. The borrowing was repaid in full in July 2020. At June 30, 2021 there was no balances outstanding with the PPPLF. The Bank of Greene County has established unsecured lines of credit with Atlantic Central Bankers Bank for $10.0 million and three other financial institutions for $64.5 million. Greene County Bancorp, Inc. has also established an unsecured line of credit with Atlantic Central Bankers Bank for $7.5 million. The lines of credit provide for overnight borrowing and the interest rate is determined at the time of the borrowing. There was $3.0 million and $7.0 million outstanding with Atlantic Central Bankers Bank at June 30, 2021 and June 30, 2020, respectively. The Company entered into Subordinated Note Purchase Agreements (SNPA) with 14 qualified institutional investors on September 17, 2020, issued at 4.75% Fixed-to-Floating Rate due September 15, 2030, in the aggregate principal amount of $20.0 million, carried net of issuance costs of $424,000 amortized over a period of 60 months. These notes are callable on September 15, 2025. At June 30, 2021, there were $19.6 million of SNPA outstanding, net of issuance costs. The sale of the SNPA were made in a private placement to accredited investors under the exemption from registration provided under Securities and Exchange Commission Rule 506. The Notes are not registered under the Securities Act of 1933, as amended ("Securities Act"), and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements. For regulatory purposes, the Company allocated the SNPA to The Bank of Greene County to qualify as Tier 1 capital subject to a 25% of capital limitation under risk-based capital guidelines. The portion that exceeds the 25% of capital limitation qualifies as Tier 2 capital. At June 30, 2021, there were no long-term borrowings and therefore no scheduled maturities of long-term borrowings.

Note 7. Borrowings

At June 30, 2021, The Bank of Greene County had pledged approximately $405.3 million of its residential and commercial mortgage portfolios as collateral for borrowings and stand-by letters of credit at the Federal Home Loan Bank of New York (“FHLB”). The maximum amount of funding available from the FHLB was $296.3 million at June 30, 2021, with no borrowings, stand-by letters of credit and overnight borrowings outstanding at June 30, 2021. Interest rates on short term borrowings are determined at the time of borrowing. There were no long-term fixed rate, fixed term advances at June 30, 2021. At June 30, 2020, The Bank of Greene County had pledged approximately $321.5 million of its residential and commercial mortgage portfolios as collateral for borrowings and stand-by letters of credit at the Federal Home Loan Bank of New York (“FHLB”). The maximum amount of funding available from the FHLB was $230.5 million at June 30, 2020, of which $7.6 million in borrowings and $70.7 million of stand-by letters of credit were outstanding at June 30, 2020. There were no overnight borrowings outstanding at June 30, 2020. Interest rates on short term borrowings are determined at the time of borrowing. Long-term fixed rate, fixed term advances totaled $7.6 million at June 30, 2020, with a weighted average rate of 1.73% and a weighted average maturity of 15 months.

The Bank of Greene County has established an Irrevocable Letter of Credit Reimbursement Agreement with the FHLB, whereby upon The Bank of Greene County’s request, on behalf of Greene County Commercial Bank, an irrevocable stand-by letter of credit is issued to secure municipal transactional deposit accounts. At June 30, 2021, there was no outstanding amount of stand-by letters of credit with the FHLB which have been issued to secure municipal transactional deposit accounts, on behalf of Greene County Commercial Bank. There were $70.7 million of stand-by letters of credit issued and outstanding at June 30, 2020.

The Bank of Greene County also pledges securities as collateral at the Federal Reserve Bank discount window for overnight borrowings. At June 30, 2021, there were no balances outstanding with the Federal Reserve Bank discount window. At June 30, 2020, approximately $5.5 million of collateral was available to be pledged against potential borrowings at the Federal Reserve Bank discount window. The Federal Reserve instituted a program, the Paycheck Protection Plan Liquidity Facility (“PPPLF”), to provide banks additional funding for liquidity whereby the PPP loans are pledged as collateral. The PPPLF allowed banks to offer these loans to local businesses while maintaining strong liquidity to meet cash flow needs. At June 30, 2020, the Company had borrowed $10.9 million through the PPPLF. Principal repayment of these borrowings will be made no later than upon receipt of payment on the underlying loans being pledged as collateral and interest will be charged at a rate of 0.35%. The borrowing was repaid in full in July 2020. At June 30, 2021 there was no balances outstanding with the PPPLF.

The Bank of Greene County has established unsecured lines of credit with Atlantic Central Bankers Bank for $10.0 million and three other financial institutions for $64.5 million. Greene County Bancorp, Inc. has also established an unsecured line of credit with Atlantic Central Bankers Bank for $7.5 million. The lines of credit provide for overnight borrowing and the interest rate is determined at the time of the borrowing. There was $3.0 million and $7.0 million outstanding with Atlantic Central Bankers Bank at June 30, 2021 and June 30, 2020, respectively.

The Company entered into Subordinated Note Purchase Agreements (SNPA) with 14 qualified institutional investors on September 17, 2020, issued at 4.75% Fixed-to-Floating Rate due September 15, 2030, in the aggregate principal amount of $20.0 million, carried net of issuance costs of $424,000 amortized over a period of 60 months. These notes are callable on September 15, 2025. At June 30, 2021, there were $19.6 million of SNPA outstanding, net of issuance costs.

The sale of the SNPA were made in a private placement to accredited investors under the exemption from registration provided under Securities and Exchange Commission Rule 506. The Notes are not registered under the Securities Act of 1933, as amended ("Securities Act"), and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.

For regulatory purposes, the Company allocated the SNPA to The Bank of Greene County to qualify as Tier 1 capital subject to a 25% of capital limitation under risk-based capital guidelines. The portion that exceeds the 25% of capital limitation qualifies as Tier 2 capital.

At June 30, 2021, there were no long-term borrowings and therefore no scheduled maturities of long-term borrowings.