Gouverneur Bancorp posted fiscal Q3 net income of $239,000, up 10.14% year over year, with EPS at $0.23.
Nine-month net income rose 50.1% to $743,000, lifting EPS to $0.72.
Net interest margin widened 0.1 percentage point to 4.25%, while net interest income increased 3.37% to $1.87 million.
Post-quarter securities sale and loan sale
Subsequent to quarter-end, it sold $23.8 million of available-for-sale securities, taking an estimated pre-tax loss of about $2 million, and reinvested $11.6 million at a 5.01% yield.
It is selling about $20 million of loans at a 3.70% yield, expecting an estimated $2 million pre-tax loss, with CEO Stephen Jefferies citing improved liquidity and future earnings.
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