Gouverneur Bancorp, Inc. reported net income of $238,000, or $0.24 per share, for the quarter ended September 30, 2025, compared with $136,000, or $0.13 per share, in the same period a year earlier. For the full fiscal year, the company earned $733,000, or $0.72 per share, versus $539,000, or $0.51 per share, in 2024.
Net interest income rose $45,000, or 2.1%, to $2.2 million in the quarter, driven by a 6.8% increase in loan income and modest gains from interest‑rate swaps. Net interest margin increased to 4.12% from 4.04% a year earlier, reflecting a 0.8% decline in interest expense on deposits for the quarter. For the year, net interest income grew $101,000, or 1.2%, to $8.7 million, and the margin expanded to 4.08% from 4.03%, with interest expense on deposits rising for the full year.
The company recorded a $32,000 provision for credit losses in the quarter, versus no provision in the prior year, and a $59,000 provision for the year, down from $70,000 in 2024. Deposits fell $5.1 million, or 3.2%, to $154.8 million, largely due to seasonal shifts and the loss of a few large relationships. Total assets increased $1.2 million, or 0.6%, to $198.5 million. Shareholders’ equity declined $0.5 million to $32.1 million, mainly because of a market‑value loss on securities and share repurchases. The securities portfolio decreased by $4.4 million, driven by principal paydowns, maturities, sale proceeds, and a decline in market value.
Net loans grew to $131.5 million, a 5.8% increase from $124.3 million a year earlier. Liquidity remained strong with $7.0 million in Federal Home Loan Bank advances. The book value per common share was $30.55 at September 30, 2025.
The bank declared cumulative dividends of $0.16 per share for the year, totaling $174,000, and maintained a well‑capitalized status with $32.1 million in equity. Management noted the appointment of Stephen M. Jefferies as chief executive officer effective September 2, 2025, and emphasized a continued focus on stable deposit growth, disciplined loan origination, and prudent capital management.
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