SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
The Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): September 15, 2003
GREENE COUNTY BANCORP, INC.
(Exact name of registrant as specified in its charter)
Federal 0-25165 14-1809721
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(State or other jurisdiction (Commission File No.) (IRS Employer
of incorporation) Identification No.)
302 Main Street, Catskill NY 12414
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (518) 943-2600
Not Applicable
(Former name or former address, if changed since last report)
Item 5. Other Events and Regulation FD Disclosure
On September 16, 2003, Greene County Bancorp, Inc. (the "Company")
announced that the Company's wholly owned subsidiary, The Bank of Greene County,
has filed applications with the State of New York for permission to establish a
limited purpose commercial bank.
Item 7. Financial Statements and Exhibits
(a) Not Applicable.
(b) Not Applicable.
(c) Exhibits
Exhibit No. Description
99 Press release dated September 16, 2003
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned, hereunto duly authorized.
GREENE COUNTY BANCORP, INC.
DATE: September 15, 2003 By: /s/ J. Bruce Whittaker
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J. Bruce Whittaker
President and Chief Executive Officer
Exhibit Index
Exhibit Number Description
99. Press Release dated September 16, 2003
EXHIBIT 99
September 16, 2003
FOR IMMEDIATE RELEASE
Contacts: J. Bruce Whittaker, President and Chief Executive Officer
Michelle Plummer, Chief Financial Officer and Treasurer
518.943.2600
Greene County Bancorp, Inc. Seeks Municipal Bank Charter
Catskill NY: September 16, 2003-- J. Bruce Whittaker, President and Chief
Executive Officer of Greene County Bancorp, Inc. (NASDAQ-GCBC), today announced
that the Company's wholly owned subsidiary, The Bank of Greene County, has filed
applications with the State of New York for permission to establish a limited
purpose commercial bank.
Under New York State municipal law, municipal sub-divisions are not permitted to
deposit funds in thrift institutions such as The Bank of Greene County. By
chartering a limited-purpose commercial bank subsidiary, the Bank will be able
to accommodate the deposit needs of the municipalities and school and fire
districts in its market area.
According to Mr. Whittaker, "For many years, The Bank of Greene County has been
an active purchaser of locally issued municipal bonds. As of June 30, 2003, we
held in our investment portfolio approximately $4.5 million in locally issued
debt instruments issued by numerous towns, villages, and school and fire
districts. We believe that this additional banking charter will allow us to
further serve the banking needs of these entities by offering full deposit
services equal to our commercial bank competitors." Municipal customers would be
served at the Bank's existing retail branch locations in Catskill, Coxsackie,
Cairo, Greenville, Tannersville and Westerlo.
According to Mr. Whittaker, subject to regulatory approvals, the Bank
anticipates the new commercial bank will begin operations in the first quarter
of 2004.
(END)