☒ |
ANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
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☐ |
TRANSITION REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934.
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A. |
Full title of the plan and the address of the plan, if different from that of the issue named below:
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B. |
Name of issuer of the securities held pursuant to the plan and the address of its principal executive office:
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Page
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2-3
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4 | |
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5 | |
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6-11
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12 | |
13
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14
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We have served as the Company’s auditor since 2011.
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/s/ Bonadio & Co. LLP
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Syracuse, New York
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June 27, 2023
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2022
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2021
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|||||||
ASSETS
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||||||||
Cash
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$
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69,135
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$
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18,944
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||||
Investments, at fair value
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20,897,336
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21,198,785
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||||||
Notes receivable from participants
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300,862
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434,658
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||||||
Other receivables
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23,508
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-
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||||||
Participant contributions receivable
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-
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27,455
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||||||
Employer contributions receivable
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-
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14,401
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||||||
TOTAL ASSETS
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$
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21,290,841
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$
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21,694,243
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||||
LIABILITIES
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||||||||
Other liabilities
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$
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99,342
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$
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20,031
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||||
TOTAL LIABILITIES
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99,342
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20,031
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||||||
NET ASSETS AVAILABLE FOR BENEFITS
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$
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21,191,499
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$
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21,674,212
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2022
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2021
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|||||||
ADDITIONS TO NET ASSETS
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||||||||
Investment income:
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||||||||
Interest and dividend income
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$
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610,808
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$
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1,374,656
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||||
Interest income, notes receivable from participants
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17,493
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20,291
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||||||
Net (depreciation) appreciation in fair value of investments
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(1,142,141
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)
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2,493,702
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|||||
Net investment (loss) income
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(513,840
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)
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3,888,649
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|||||
Contributions:
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||||||||
Participant
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878,440
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750,873
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||||||
Employer
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436,115
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393,350
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||||||
Rollover
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712,972
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6,403
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||||||
Total contributions
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2,027,527
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1,150,626
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||||||
TOTAL ADDITIONS
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1,513,687
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5,039,275
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||||||
DEDUCTIONS FROM NET ASSETS
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||||||||
Benefits paid to participants
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1,972,491
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2,354,204
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||||||
Administrative expenses
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23,909
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22,819
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||||||
TOTAL DEDUCTIONS
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1,996,400
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2,377,023
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||||||
Net (decrease) increase in net assets
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(482,713
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)
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2,662,252
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|||||
Net assets available for benefits, beginning
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21,674,212
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19,011,960
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||||||
NET ASSETS AVAILABLE FOR BENEFITS, ENDING
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$
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21,191,499
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$
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21,674,212
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||||
Level 1:
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Inputs are quoted prices in active markets for identical assets or liabilities.
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Level 2: |
Inputs are quoted prices for similar assets or liabilities in an active market, quoted prices for identical or similar assets or liabilities in markets that are not active, inputs other than quoted prices
that are observable, and market-corroborated inputs which are derived principally from or corroborated by observable market data.
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Level 3: |
Inputs are derived from valuation techniques in which one or more significant inputs or value drivers are unobservable.
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Fair Value Measurement Using:
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||||||||||||||||
December 31, 2022:
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Total
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Quoted Prices
in Active
Markets for
Identical
Assets
(Level 1)
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Significant
Other
Observable
Inputs
(Level 2)
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Significant
Unobservable
Inputs
(Level 3)
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||||||||||||
Common stock fund – Employer stock
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$
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6,018,248
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$
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6,018,248
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$
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-
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$
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-
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||||||||
Common stock fund – Money market
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337,468
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337,468
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-
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-
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||||||||||||
Self-directed brokerage accounts
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1,744,486
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1,744,486
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-
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-
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||||||||||||
Mutual funds
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12,075,462
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12,075,462
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-
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-
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||||||||||||
Total investments, fair value
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20,175,664
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$
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20,175,664
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$
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-
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$
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-
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|||||||||
Common collective trust funda
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721,672
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|||||||||||||||
Total investments
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$
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20,897,336
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Fair Value Measurement Using:
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||||||||||||||||
December 31, 2021:
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Total
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Quoted Prices
in Active Markets for
Identical Assets
(Level 1)
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Significant
Other
Observable
Inputs
(Level 2)
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Significant
Unobservable
Inputs
(Level 3)
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||||||||||||
Common stock fund – Employer stock
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$
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4,641,158
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$
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4,641,158
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$
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-
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$
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-
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||||||||
Common stock fund – Money market
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245,249
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245,249
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-
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-
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||||||||||||
Self-directed brokerage accounts
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1,488,617
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1,488,617
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-
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-
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||||||||||||
Mutual funds
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14,276,091
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14,276,091
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-
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-
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||||||||||||
Total investments, fair value
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20,651,115
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$
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20,651,115
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$
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-
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$
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-
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|||||||||
Common collective trust funda
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547,670
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|||||||||||||||
Total investments
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$
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21,198,785
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(a)
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(b)
Identity of issuer, borrower, lessor, or similar party
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(c)
Description of investment including maturity date, rate of interest, collateral, par, or maturity value
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(d)
Cost
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(e)
Current
value
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*
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Greene County Bancorp, Inc. Common Stock
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Common stock fund- Employer stock
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**
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$6,018,248
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Federated Government Obligation Fund
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Money market account
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**
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337,468
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LSV Value Equity
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Mutual fund
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**
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953,222
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Invesco Global Fund R6
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Mutual fund
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**
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449,485
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American Funds Europacific GR R6
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Mutual fund
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**
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311,545
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MFS Massachusetts Investors TR R6
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Mutual fund
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**
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898,279
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T. Rowe Price Blue Chip Growth
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Mutual fund
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**
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1,682,349
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Vanguard Target Retirement 2020 Inv.
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Mutual fund
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**
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143,757
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Vanguard Target Retirement 2025 Inv.
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Mutual fund
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**
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653,125
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Vanguard Target Retirement 2030 Inv.
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Mutual fund
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**
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1,108,111
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Vanguard Target Retirement 2035 Inv.
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Mutual fund
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**
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668,769
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Vanguard Target Retirement 2040 Inv.
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Mutual fund
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**
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990,456
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Vanguard Target Retirement 2045 Inv.
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Mutual fund
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**
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297,531
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Vanguard Target Retirement 2050 Inv.
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Mutual fund
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**
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245,225
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Vanguard Target Retirement 2055 Inv.
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Mutual fund
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**
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413,908
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Vanguard Target Retirement 2060 Inv.
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Mutual fund
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**
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300,110
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Vanguard Target Retirement 2065 Inv.
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Mutual fund
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**
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80,752
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Vanguard Mid Cap Index Adm
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Mutual fund
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**
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1,129,152
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Vanguard Value Index Adm
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Mutual fund
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**
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136,957
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Vanguard Small Cap Index Adm
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Mutual fund
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**
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971,508
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Dodge & Cox Income
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Mutual fund
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**
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369,317
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Vanguard Target Retirement Income Inv
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Mutual fund
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**
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135,497
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Vanguard Inflation-Protected Secs Adm
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Mutual fund
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**
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136,407
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Metlife Stable Value Fund – Series 25053
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Common collective trust fund
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**
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721,672
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Self-directed brokerage accounts
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**
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1,744,486
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||
*
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Notes receivable from participants
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4.25% - 7.25%
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N/A
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300,862
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Total Investments
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$21,198,198
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THE BANK OF GREENE COUNTY
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EMPLOYEES’ SAVINGS AND PROFIT
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SHARING PLAN AND TRUST
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Date: June 27, 2023
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By: |
/s/ Donald E. Gibson
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Donald E. Gibson
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President and Chief Executive Officer,
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Greene County Bancorp, Inc.
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/s/Bonadio & Co., LLP
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Bonadio & Co., LLP
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Syracuse, New York
|
June 27, 2023
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