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Gouverneur Bancorp Announces 2018 Third Quarter and Nine Months Results

GOUVERNEUR BANCORP INC MD (GOVB) 
NASDAQ:AMEX Investor Relations: gouverneurbank.com
Company Research Source: GlobeNewswire
GOUVERNEUR, N.Y., Aug. 02, 2018 (GLOBE NEWSWIRE) -- Gouverneur Bancorp, Inc. (OTC Pink: GOVB) (the “Company”) and its subsidiary, Gouverneur Savings and Loan Association (the “Bank”), today announced the results for the third quarter and nine months ended June 30, 2018. For the three months ended June 30, 2018, the Company reported net income of $404,000, or $0.18 per diluted share, representing an increase of $137,000, or 51.31% from last year’s net income of $267,000, or $0.12 per diluted share. Net interest income decreased $20,000 for the quarter relative to 2017, ending June 30, 2018 at $1.31 million compared to $1.33 million for the quarter ended June 30, 2017. Net interest margin remained strong at 4.49%, compared to 4.41% for the same period last year. The annualized return on average assets and average equity for the three months ended June 30, 2018 was 1.25% and 5.44% respectively, compared to 0.79% and 3.62% for the three months ended June 30, 2017.  For the nine month Show less Read more
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