Latest news with #SaratogaCounty
Yahoo
7 days ago
- Politics
- Yahoo
Elise Stefanik on whether she'll run for NY governor: What she said
Rep. Elise Stefanik is holding off for now on a decision about the 2026 governor's race, saying she'll announce her plans after New York's elections for county and local offices on Nov. 4. Stefanik, a Saratoga County Republican who has represented northeastern New York for more than a decade, gave that extended timeline after another Republican opted out of the governor's race on Wednesday, July 23. Rep. Mike Lawler of Rockland County had been weighing a challenge against Gov. Kathy Hochul since last year but announced he will seek re-election instead. His exit clears a path for now for Stefanik, who plans to keep up the suspense for more than three months. "As I have previously stated, I am focused on supporting strong Republican local and county candidates on the ballot this November to lay the groundwork with a strong team for next year," she said in a statement right after Lawler's decision was reported on Wednesday. "I will make a final decision and announcement after this year's November election which we are all focused on." Stefanik hinted at gov run earlier this year Stefanik, 41, emerged this spring as a potential rival for Lawler, revealing in April that she was considering the next governor's race. That came after another political ambition fell through — President Donald Trump withdrew her nomination to be United Nations ambassador out of concern Democrats might win her vacated House seat in a special election. Republicans hold a thin majority in the House and needed to retain every seat in case of close votes. Stefanik is a close Trump ally who represents New York's 21st Congressional District, a giant swath of upstate bordered on two sides by Vermont and Canada. She routinely bashes Hochul as "the worst governor in America" and she got a chance to grill her potential opponent in person last month, when Hochul and two other governors testified at a House hearing on sanctuary state policies. Her campaign announced this month she had raised a whopping $4 million from April to June and had more than $11 million in her House campaign accounts. Hochul gears up for campaign, faces familiar rival in Delgado Hochul, who took office in 2021 after Andrew Cuomo resigned as governor, won a full term in 2022 and plans to run for a second next year. Her own lieutenant governor, Antonio Delgado, is her only declared challenger at this point, having launched a campaign in June to run against her in a Democratic primary in June 2026. Ambassador bid: Elise Stefanik's district, reelection: What to know about the NY congresswoman Hochul's campaign, meanwhile, reported a nearly $12 million haul since January for her own re-election account and the state Democratic Committee. In addition to Stefanik, Nassau County Executive Bruce Blakeman is seen as a potential Republican candidate for governor in 2026. He's up for re-election as county executive this November and is unlikely to announce before then a decision on the governor's race. Chris McKenna covers government and politics for The Journal News and USA Today Network. Reach him at cmckenna@ This article originally appeared on Rockland/Westchester Journal News: Elise Stefanik on whether she'll run for NY governor: What she said Solve the daily Crossword
Associated Press
23-07-2025
- Business
- Associated Press
Greene County Bancorp, Inc. Reports Record High Net Income of $31.1 Million for the Fiscal Year Ended June 30, 2025, Announces Plans to Expand into Saratoga County
CATSKILL, N.Y., July 23, 2025 (GLOBE NEWSWIRE) -- Greene County Bancorp, Inc. (the 'Company') (NASDAQ: GCBC), the holding company for the Bank of Greene County and its subsidiary Greene County Commercial Bank, today reported net income for the quarter and fiscal year ended June 30, 2025. Net income for the quarter and fiscal year ended June 30, 2025 was $9.3 million, or $0.55 per basic and diluted share, and $31.1 million, or $1.83 per basic and diluted share, respectively, as compared to $6.7 million, or $0.40 per basic and diluted share, and $24.8 million, or $1.45 per basic and diluted share, for the quarter and fiscal year ended June 30, 2024, respectively. Net income increased $2.6 million, or 38.6%, when comparing the quarters ended June 30, 2025 and 2024, and increased $6.3 million, or 25.7%, when comparing the fiscal years ended June 30, 2025 and 2024. Highlights: Donald Gibson, President & CEO, stated: 'I am pleased to report record high net income for the fiscal year ended June 30, 2025, marking 16 years of the past 17 years that our Company has achieved record earnings. This sustained performance is a testament to our disciplined business model, strong community partnerships and exceptional execution of our team. As we look ahead, we are excited to announce plans to expand into Saratoga County with our first branch in that market area, expanding our geographic footprint from five to six counties within New York State, and further strengthening our position as the leading economic engine of the communities we serve. Additionally, we are honored to be recognized by the Albany Business Review, first as one of the Capital Regions 11 fastest growing large companies, defined as those with revenue exceeding $100.0 million, and second, on July 17, 2025, we ranked as the number one commercial mortgage lender in New York's Capital Region for commercial loan volume in 2024. I believe the distinction reflects our financial strength and our long-term commitment to organic growth that benefits customers, communities and shareholders alike.' Total consolidated assets for the Company were $3.0 billion at June 30, 2025, primarily consisting of $1.6 billion of net loans and $1.1 billion of total securities available-for-sale and held-to-maturity. Consolidated deposits totaled $2.6 billion at June 30, 2025, consisting of retail, business, municipal and private banking relationships. Pre-provision net income was $32.5 million for the year ended June 30, 2025 as compared to $25.5 million for the year ended June 30, 2024, an increase of $7.0 million, or 27.1%. Pre-provision net income measures the Company's net income less the provision for credit losses. Management believes that this non-GAAP measure assists investors in comprehending the impact of the provision for credit losses on the Company's reported results, offering an alternative view of the Company's performance and the Company's ability to generate income in excess of its provision for credit losses. The Company strategically managed its balance sheet by focusing on higher-yielding loans and securities, and lowering deposit rates to align with the Federal Reserve's recent interest rate cuts. This resulted in a higher net interest margin for the year ended June 30, 2025 as compared to the year ended June 30, 2024. The Company will continue to monitor the Federal Reserve and interest rates paid on deposits, while maintaining our long-term customer relationships. Selected highlights for the quarter and fiscal year ended June 30, 2025 are as follows: Net Interest Income and Margin Credit Quality and Provision for Credit Losses Noninterest Income and Noninterest Expense Income Taxes Balance Sheet Summary Corporate Overview Greene County Bancorp, Inc. is the holding company for the Bank of Greene County, and its subsidiary Greene County Commercial Bank. The Company is the leading provider of community-based banking services throughout the Hudson Valley and Capital Region of New York State. Its customers include individuals, businesses, municipalities and other institutions. Greene County Bancorp, Inc. (GCBC) is publicly traded on the Nasdaq Capital Market and is dedicated to promoting economic development and a high quality of life in the communities it serves. For more information on Greene County Bancorp, Inc., visit Forward-Looking Statements This earnings release contains statements about future events that constitute forward-looking statements, as defined in the Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by references to a future period or periods or by the use of the words 'believe,' 'expect,' 'anticipate,' 'intend,' 'estimate,' 'assume,' 'will,' 'should,' 'could,' 'plan,' and other similar terms of expressions. Forward-looking statements should not be relied on because they involve known and unknown risks, uncertainties and other factors, many of which are beyond the Company's control. These risks, uncertainties and other factors may cause the actual results, performance or achievements expressed in, or implied by, the forward-looking statements to differ materially from those contemplated by the forward-looking statements. Factors that may cause such a difference include, but are not limited to, local, regional, national and international general economic conditions, including actual or potential stress in the banking industry, financial and regulatory changes, changes in interest rates, regulatory considerations, competition, technological developments, retention and recruitment of qualified personnel, changes in customer deposit behavior, and market acceptance of the Company's pricing, products and services. The Company cautions readers not to place undue reliance on any forward-looking statements, which speak only as of the date made, and advises readers that various factors, including, but not limited to, those described above and other factors discussed in the Company's annual and quarterly reports previously filed with the Securities and Exchange Commission, could affect the Company's financial performance and could cause the Company's actual results or circumstances for future periods to differ materially from those anticipated or projected. Unless required by law, the Company does not undertake, and specifically disclaims any obligations to, publicly release any revisions that may be made to any forward-looking statements to reflect the occurrence of anticipated or unanticipated events or circumstances after the date of such statements. For more information, please see our reports filed with the United States Securities and Exchange Commission ('SEC'), including our most recent annual report on Form 10-K and quarterly reports on Form 10-Q. Non-GAAP Measures In addition to presenting information in conformity with accounting principles generally accepted in the United States of America (GAAP), this news release contains financial information determined by methods other than GAAP (non-GAAP). The following measures used in this release, which are commonly utilized by financial institutions, have not been specifically exempted by the Securities and Exchange Commission ('SEC') and may constitute 'non-GAAP financial measures' within the meaning of the SEC's rules. The Company has provided in this news release supplemental disclosures for the calculation of net interest margin utilizing a fully taxable-equivalent adjustment and pre-provision net income. Management believes that the non-GAAP financial measures disclosed by the Company from time to time are useful in evaluating the Company's performance and that such information should be considered as supplemental in nature and not as a substitute for or superior to the related financial information prepared in accordance with GAAP. Our non-GAAP financial measures may differ from similar measures presented by other companies. Refer to the tables on page 9 for Non-GAAP to GAAP reconciliations. The above information is preliminary and based on the Company's data available at the time of presentation. Non-GAAP to GAAP Reconciliations The following table summarizes the adjustments made to arrive at the fully taxable-equivalent net interest margins. (1) Interest income calculated on a taxable-equivalent basis (non-GAAP) includes the additional interest income that would have been earned if the Company's investment in tax-exempt securities and loans had been subject to federal and New York State income taxes yielding the same after-tax income. The rate used for this adjustment was 21% for federal income taxes for the three and twelve months ended June 30, 2025 and 2024, 4.44% for New York State income taxes for the three and twelve months ended June 30, 2025 and 2024. The following table summarizes the adjustments made to arrive at pre-provision net income. The above information is preliminary and based on the Company's data available at the time of presentation. For Further Information Contact: Donald E. Gibson President & CEO (518) 943-2600 [email protected] Nick Barzee SVP & CFO (518) 943-2600 [email protected]
Yahoo
01-06-2025
- General
- Yahoo
14-Year-Old Arrested for Alleged Arson After Fire Destroys Nearly 180-Year-Old Mill in New York
A fire engulfed Victory Mill, a historic mill in the village of Victory Mills in Saratoga County, N.Y., on May 31 An unidentified 14-year-old has been charged with arson in connection with the fire, according to local news reports The cause of the fire is still under investigationA teenager is facing legal trouble after a fire engulfed a historic mill in New York. On Saturday, May 31, the blaze broke out at the Victory Mill in the village of Victory Mills, the Saratoga County Sheriff's Office (SCSO) said in a press release. A 14-year-old has since been charged with arson after the incident, CBS 6 Albany reported, citing Saratoga County Sheriff Michael Zurlo. (Sources said the same to WNYT.) According to CBS 6 Albany, the charge will be handled in family court. The mill, which is listed on the National Register of Historic Places, is nearly 180 years old, according to the Village of Victory's website. It began operation in 1846 but has been closed for over two decades since 2000. Officials responded to the mill fire at 2:27 p.m. local time after a call about the blaze. The fire had already spread significantly throughout the building at that time, the sheriff's office said. First responders from several agencies reported to the scene, and traffic was blocked off in the surrounding area, according to live footage of the blaze captured by WNYT. The footage, taken around 4:00 p.m., shows a thick, towering smoke cloud, which WNYT's Zach Richter said was visible about 2 miles away from the actual mill. "The entire building is up in flames,' Richter said in the video. 'People were telling us that this is the Hogwarts in the neighborhood, the Victory Mill. It's a large mill.' According to Ryan Campbell, chief of the Victory Mills Fire Department, there was no one in the building, so firefighters took a 'defensive approach." 'We've already made the call that nobody is going into the structure unless there was immediate life at risk. We had no reports of immediate life when I got on scene,' Campbell told WNYT. He added, 'I was told that there was nobody in the structure at that point. It was fully involved, so we took a complete defensive approach to it.' Want to keep up with the latest crime coverage? Sign up for for breaking crime news, ongoing trial coverage and details of intriguing unsolved cases. An eyewitness told WNYT that there were 'embers going as far as the eye can see" during the blaze. 'The flames have been coming. I could feel the heat just standing by that fence,' they continued to the outlet. 'You could see things collapse and you could hear things collapse as it's been going.' By the early evening, the fire was 'under control,' according to the sheriff's office, which added that Saratoga County Cause and Origin is among the agencies working the case. The cause of the fire is 'currently under investigation," per the SCSO. The SCSO did not immediately respond to PEOPLE's request for comment on Sunday, June 1. Read the original article on People
