**U.S.      SECURITIES AND EXCHANGE COMMISSION**

**Washington,      D.C. 20549**

**-----------------------------------**

**FORM      10-QSB**

**FOR      THE QUARTERLY PERIOD ENDED SEPTEMBER 30, 2007**

**GREENE      COUNTY BANCORP, INC.**

**Commission      file number  0-25165**

----

|                    | **GREENE                COUNTY BANCORP, INC.**                                                                                                                                                                                                                                                                                                                   |   |     |   |
|-------------------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|----------|--------|
|                    |                                                                                                                                                                                                                                                                                                                                                             |   |     |   |
|                    |                                                                                                                                                                                                                                                                                                                                                             |   |     |   |
|                    |                                                                                                                                                                                                                                                                                                                                                             |   |     |   |
|                    | INDEX                                                                                                                                                                                                                                                                                                                                                            |   |     |   |
|                    |                                                                                                                                                                                                                                                                                                                                                             |   |     |   |
|                    |                                                                                                                                                                                                                                                                                                                                                             |   |     |   |
|                    |                                                                                                                                                                                                                                                                                                                                                             |   |     |   |
| PART                I.  | FINANCIAL                INFORMATION                                                                                                                                                                                                                                                                                                                             |   |     |   |
|                    |                                                                                                                                                                                                                                                                                                                                                             |   | Page     |   |
| Item                1.  | Financial                Statements (unaudited)                                                                                                                                                                                                                                                                                                                  |   |     |   |
|                    | *   Consolidated                Statements of Financial Condition                                                                                                                                                                                                                                                                                 |   | 3        |   |
|                    | *   Consolidated                Statements of Income                                                                                                                                                                                                                                                                                              |   | 4        |   |
|                    | *   Consolidated                Statements of Comprehensive Income                                                                                                                                                                                                                                                                                |   | 5        |   |
|                    | *   Consolidated                Statements of Changes in Shareholders’ Equity                                                                                                                                                                                                                                                               |   | 6        |   |
|                    | *   Consolidated                Statements of Cash Flows                                                                                                                                                                                                                                                                                          |   | 7        |   |
|                    | *   Notes                to Consolidated Financial Statements                                                                                                                                                                                                                                                                                     |   | 8-13     |   |
|                    |                                                                                                                                                                                                                                                                                                                                                             |   |     |   |
| Item                2.  | Management’s                Discussion and Analysis of Financial Condition and Results of                Operation                                                                                                                                                                                                                                         |   | 14-25    |   |
|                    |                                                                                                                                                                                                                                                                                                                                                             |   |     |   |
| Item                3.  | Controls                and Procedures                                                                                                                                                                                                                                                                                                                           |   | 25       |   |
|                    |                                                                                                                                                                                                                                                                                                                                                             |   |     |   |
| PART                II. | OTHER                INFORMATION                                                                                                                                                                                                                                                                                                                                 |   |     |   |
|                    |                                                                                                                                                                                                                                                                                                                                                             |   |     |   |
| Item                1.  | Legal                Proceedings                                                                                                                                                                                                                                                                                                                                 |   | 26       |   |
|                    |                                                                                                                                                                                                                                                                                                                                                             |   |     |   |
| Item                2.  | Unregistered                Sales of Equity Securities and Use of Proceeds                                                                                                                                                                                                                                                                                       |   | 26       |   |
|                    |                                                                                                                                                                                                                                                                                                                                                             |   |     |   |
| Item                3.  | Defaults                Upon Senior Securities                                                                                                                                                                                                                                                                                                                   |   | 26       |   |
|                    |                                                                                                                                                                                                                                                                                                                                                             |   |     |   |
| Item                4.  | Submission                of Matters to a Vote of Security Holders                                                                                                                                                                                                                                                                                               |   | 26       |   |
|                    |                                                                                                                                                                                                                                                                                                                                                             |   |     |   |
| Item                5.  | Other                Information                                                                                                                                                                                                                                                                                                                                 |   | 26       |   |
|                    |                                                                                                                                                                                                                                                                                                                                                             |   |     |   |
| Item                6.  | Exhibits                                                                                                                                                                                                                                                                                                                                                         |   | 26       |   |
|                    |                                                                                                                                                                                                                                                                                                                                                             |   |     |   |
|                    | Signatures                                                                                                                                                                                                                                                                                                                                                       |   | 27-31    |   |
|                    |    Exhibit                31.1 302 Certification of Chief Executive Officer   Exhibit                31.2 302 Certification of Chief Financial Officer   Exhibit                32.1 906 Statement of Chief Executive Officer   Exhibit                32.2 906 Statement of Chief Financial Officer |   | 28293031 |   |

**Greene      County Bancorp, Inc.**

**Consolidated      Statements of Financial Condition**

**As      of September 30, 2007 and June 30, 2007**

**(Unaudited)**

*(In      thousands, except share and per share amounts)*

| *ASSETS*                                                                                                                                                  |   | September                30, 2007 |    |   | June                30, 2007 |   |
|-----------------------------------------------------------------------------------------------------------------------------------------------------------|--------|-----------------------------------|---------|--------|------------------------------|--------|
| Cash                and due from banks                                                                                                                    |   | $                                 | 9,812   |   |                         | $      | 11,127 |   |
| Federal                funds sold                                                                                                                         |   |                              | 10,727  |   |                         |   | 2,899 |   |
|     Total                cash and cash equivalents                                                                                    |   |                              | 20,539  |   |                         |   | 14,026 |   |
|                                                                                                                                                      |   |                              |    |   |                         |   |   |   |
| Securities                available for sale, at fair value                                                                                               |   |                              | 83,179  |   |                         |   | 87,184 |   |
| Federal                Home Loan Bank stock, at cost                                                                                                      |   |                              | 657     |   |                         |   | 657 |   |
|                                                                                                                                                      |   |                              |    |   |                         |   |   |   |
| Loans                                                                                                                                                     |   |                              | 219,618 |   |                         |   | 208,705 |   |
| Less:                Allowance for loan losses                                                                                                            |   |                              | (1,597  | )      |                         |   | (1,486 | ) |
|          Unearned                origination fees and costs, net                                             |   |                              | 85      |   |                         |   | 61 |   |
|     Net                loans receivable                                                                                               |   |                              | 218,106 |   |                         |   | 207,280 |   |
|                                                                                                                                                      |   |                              |    |   |                         |   |   |   |
| Premises                and equipment                                                                                                                     |   |                              | 14,148  |   |                         |   | 13,712 |   |
| Accrued                interest receivable                                                                                                                |   |                              | 1,859   |   |                         |   | 1,955 |   |
| Prepaid                expenses and other assets                                                                                                          |   |                              | 653     |   |                         |   | 1,012 |   |
|                Total                assets                                     |   | $                                 | 339,141 |   |                         | $      | 325,826 |   |
|                                                                                                                                                      |   |                              |    |   |                         |   |   |   |
| *LIABILITIES                AND SHAREHOLDERS’ EQUITY*                                                                                               |   |                              |    |   |                         |   |   |   |
| Noninterest                bearing deposits                                                                                                               |   | $                                 | 41,638  |   |                         | $      | 44,020 |   |
| Interest                bearing deposits                                                                                                                  |   |                              | 255,423 |   |                         |   | 240,156 |   |
|     Total                deposits                                                                                                     |   |                              | 297,061 |   |                         |   | 284,176 |   |
|                                                                                                                                                      |   |                              |    |   |                         |   |   |   |
| Borrowings                from FHLB                                                                                                                       |   |                              | 5,000   |   |                         |   | 5,000 |   |
| Accrued                expenses and other liabilities                                                                                                     |   |                              | 1,280   |   |                         |   | 1,235 |   |
|                 Total                liabilities                          |   |                              | 303,341 |   |                         |   | 290,411 |   |
|                                                                                                                                                      |   |                              |    |   |                         |   |   |   |
| Shareholders’                equity:                                                                                                                |   |                              |    |   |                         |   |   |   |
| Preferred                stock,                                                                                                                           |   |                              |    |   |                         |   |   |   |
|   Authorized                1,000,000 shares; none issued                                                                                       |   |                              | ---     |   |                         |   | --- |   |
| Common                stock, par value $.10 per share;                                                                                                    |   |                              |    |   |                         |   |   |   |
|    Authorized:12,000,000                shares                                                                                             |   |                              |    |   |                         |   |   |   |
|    Issued:                4,305,670 shares                                                                                                 |   |                              |    |   |                         |   |   |   |
|    Outstanding:                4,151,286 shares at September 30, 2007                                                                      |   |                              |    |   |                         |   |   |   |
|           and                4,151,066 shares at June 30, 2007;                                         |   |                              | 431     |   |                         |   | 431 |   |
| Additional                paid-in capital                                                                                                                 |   |                              | 10,346  |   |                         |   | 10,319 |   |
| Retained                earnings                                                                                                                          |   |                              | 25,851  |   |                         |   | 25,962 |   |
| Accumulated                other comprehensive income (loss)                                                                                              |   |                              | 55      |   |                         |   | (400 | ) |
| Treasury                stock, at cost, 154,384 shares at September 30,                                                                                   |   |                              |    |   |                         |   |   |   |
|           2007,                and 154,604 shares at June 30, 2007                                      |   |                              | (829    | )      |                         |   | (828 | ) |
| Unearned                ESOP shares, at cost                                                                                                              |   |                              | (54     | )      |                         |   | (69 | ) |
|                Total                shareholders’ equity                 |   |                              | 35,800  |   |                         |   | 35,415 |   |
|                Total                liabilities and shareholders’ equity |   | $                                 | 339,141 |   |                         | $      | 325,826 |   |

*See      notes to consolidated financial statements.*

----

**Greene      County Bancorp, Inc.**

**Consolidated      Statements of Income**

**For      the Three Months Ended September 30, 2007 and 2006**

**(Unaudited)**

*(In      thousands, except share and per share amounts)*

|                                                               |   |   |   | 2007      |   |   | 2006   |      |
|--------------------------------------------------------------------|--------|--------|--------|-----------|--------|--------|--------|-----------|
| Interest                income:                                    |   |   |   |      |   |   |   |
| Loans                                                              |   |   | $      | 3,558     |   |   | $      | 3,179     |   |
| Investment                securities – taxable               |   |   |   | 256       |   |   |   | 161       |   |
| Mortgage-backed                securities                          |   |   |   | 393       |   |   |   | 360       |   |
| Tax                exempt securities                               |   |   |   | 275       |   |   |   | 269       |   |
| Interest                bearing deposits and federal funds sold    |   |   |   | 127       |   |   |   | 102       |   |
| Total                interest income                               |   |   |   | 4,609     |   |   |   | 4,071     |   |
|                                                               |   |   |   |      |   |   |   |      |   |   |
| Interest                expense:                                   |   |   |   |      |   |   |   |      |   |
| Interest                on deposits                                |   |   |   | 1,802     |   |   |   | 1,376     |   |
| Interest                on borrowings                              |   |   |   | 46        |   |   |   | 46        |   |
| Total                interest expense                              |   |   |   | 1,848     |   |   |   | 1,422     |   |
|                                                               |   |   |   |      |   |   |   |      |   |   |
| Net                interest income                                 |   |   |   | 2,761     |   |   |   | 2,649     |   |
|                                                               |   |   |   |      |   |   |   |      |   |   |
| Provision                for loan losses                           |   |   |   | 143       |   |   |   | 45        |   |
|                                                               |   |   |   |      |   |   |   |      |   |   |
| Net                interest income after provision for loan losses |   |   |   | 2,618     |   |   |   | 2,604     |   |
|                                                               |   |   |   |      |   |   |   |      |   |   |
| Noninterest                income:                                 |   |   |   |      |   |   |   |      |   |
| Service                charges on deposit accounts                 |   |   |   | 631       |   |   |   | 471       |   |
| Debit                Card Fees                                     |   |   |   | 183       |   |   |   | 139       |   |
| Investment                Services                                 |   |   |   | 92        |   |   |   | 107       |   |
| Other                operating income                              |   |   |   | 190       |   |   |   | 174       |   |
| Total                noninterest income                            |   |   |   | 1,096     |   |   |   | 891       |   |
|                                                               |   |   |   |      |   |   |   |      |   |   |
| Noninterest                expense:                                |   |   |   |      |   |   |   |      |   |
| Salaries                and employee benefits                      |   |   |   | 1,520     |   |   |   | 1,378     |   |
| Occupancy                expense                                   |   |   |   | 220       |   |   |   | 157       |   |
| Equipment                and furniture expense                     |   |   |   | 214       |   |   |   | 196       |   |
| Service                and data processing fees                    |   |   |   | 257       |   |   |   | 217       |   |
| Computer                software, supplies & support           |   |   |   | 80        |   |   |   | 56        |   |
| Office                supplies                                     |   |   |   | 42        |   |   |   | 28        |   |
| Other                                                              |   |   |   | 572       |   |   |   | 401       |   |
| Total                noninterest expense                           |   |   |   | 2,905     |   |   |   | 2,433     |   |
|                                                               |   |   |   |      |   |   |   |      |   |   |
| Income                before provision for income taxes            |   |   |   | 809       |   |   |   | 1,062     |   |
|                                                               |   |   |   |      |   |   |   |      |   |   |
| Provision                for income taxes                          |   |   |   | 240       |   |   |   | 308       |   |
| Net                income                                          |   |   | $      | 569       |   |   | $      | 754       |   |
|                                                               |   |   |   |      |   |   |   |      |   |   |
| Basic                EPS                                           |   |   | $      | 0.14      |   |   | $      | 0.18      |   |
| Basic                average shares outstanding                    |   |   |   | 4,137,556 |   |   |   | 4,117,643 |   |
| Diluted                EPS                                         |   |   | $      | 0.14      |   |   | $      | 0.18      |   |
| Diluted                average shares outstanding                  |   |   |   | 4,184,289 |   |   |   | 4,187,925 |   |
| Dividends                per share                                 |   |   | $      | 0.25      |   |   | $      | 0.23      |   |

*See      notes to consolidated financial statements*

** Greene      County Bancorp, Inc.**

**Consolidated      Statements of Comprehensive Income**

**For      the Three Months Ended September 30, 2007 and 2006**

**(Unaudited)**

*(In      thousands)*

|                                                                                                                                                                                                                                                    |   |   |   | **2007** |   |   | **2006** |   |
|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|--------|--------|----------|--------|--------|----------|--------|
|                                                                                                                                                                                                                                                    |   |   |   |     |   |   |     |   |
| Net                income                                                                                                                                                                                                                               |   |   | $      | 569      |   |   | $        | 754    |   |
|                                                                                                                                                                                                                                                    |   |   |   |     |   |   |     |   |   |   |
| Other                comprehensive income:                                                                                                                                                                                                              |   |   |   |     |   |   |     |   |   |
|                                                                                                                                                                                                                                                    |   |   |   |     |   |   |     |   |   |   |
| Unrealized                holding gain on available for sale securities, arising during the                three                months ended  September 30, 2007 and 2006, net of income taxes                of $290 and $295, respectively. |   |   |   |     |   |   |     |   |   |
|                                                                                                                                                                                                                                                    |   |   |   | 455      |   |   |     | 462    |   |
|                                                                                                                                                                                                                                                    |   |   |   |     |   |   |     |   |   |   |
| Comprehensive                income                                                                                                                                                                                                                     |   |   | $      | 1,024    |   |   | $        | 1,216  |   |
|                                                                                                                                                                                                                                                    |   |   |   |     |   |   |     |   |   |   |

*See      notes to consolidated financial statements*

----

**Greene      County Bancorp, Inc.**

**Consolidated      Statements of Changes in Shareholders’ Equity**

**For      the Three Months Ended September 30, 2007 and 2006**

**(Unaudited)**

*(In      thousands)*

|                                              |   |                           |     | Accumulated                  |     |     |                |
|---------------------------------------------------|--------|--------------------------------|----------|------------------------------|----------|----------|---------------------|
|                                              |   | Additional                     |     | Other                        |     | Unearned | Total               |
|                                              | Common | Paid                – In | Retained | Comprehensive                | Treasury | ESOP     | Shareholders’ |
|                                              | Stock  | Capital                        | Earnings | Income                (Loss) | Stock    | Shares   | Equity              |
|                                              |   |                           |     |                         |     |     |                |
| Balance                at                         |   |                           |     |                         |     |     |                |
| June                30, 2006                      | $431   | $10,300                        | $24,588  | ($747)                       | ($860)   | ($131)   | $33,581             |
|                                              |   |                           |     |                         |     |     |                |
| ESOP                shares earned                 |   | 37                             |     |                         |     | 16       | 53                  |
|                                              |   |                           |     |                         |     |     |                |
| Options                exercised                  |   | (1)                            |     |                         | 5        |     | 4                   |
|                                              |   |                           |     |                         |     |     |                |
| Dividends                declared                 |   |                           | (424)    |                         |     |     | (424)               |
|                                              |   |                           |     |                         |     |     |                |
| Net                income                         |   |                           | 754      |                         |     |     | 754                 |
|                                              |   |                           |     |                         |     |     |                |
| Unrealized                gain on securities, net |   |                           |     |  462                    |     |     |  462           |
| Balance                at                         |   |                           |     |                         |     |     |                |
| September                30, 2006                 | $431   | $10,336                        | $24,918  | ($285)                       | ($855)   | ($115)   | $34,430             |

| June                30, 2007                      | $431   | $10,319 | $25,962 | ($400)    | ($828) | ($69)  | $35,415   |
|---------------------------------------------------|--------|---------|---------|-----------|--------|--------|-----------|
|                                              |   |    |    |      |   |   |      |
| ESOP                shares earned                 |   | 28      |    |      |   | 15     | 43        |
|                                              |   |    |    |      |   |   |      |
| Options                exercised                  |   | (1)     |    |      | 3      |   | 2         |
|                                              |   |    |    |      |   |   |      |
| Shares                repurchased                 |   |    |    |      | (4)    |   | (4)       |
|                                              |   |    |    |      |   |   |      |
| Dividends                declared                 |   |    | (462)   |      |   |   | (462)     |
|                                              |   |    |    |      |   |   |      |
| Net                income                         |   |    | 569     |      |   |   | 569       |
|                                              |   |    |    |      |   |   |      |
| Adoption                of FIN 48                 |   |    | (218)   |      |   |   | (218)     |
|                                              |   |    |    |      |   |   |      |
| Unrealized                gain on securities, net |   |    |    |  455 |   |   |  455 |
| Balance                at                         |   |    |    |      |   |   |      |
| September                30, 2007                 | $431   | $10,346 | $25,851 | $55       | ($829) | ($54)  | $35,800   |
|                                              |   |    |    |      |   |   |      |

*See      notes to consolidated financial statements.*

----

**Greene      County Bancorp, Inc.**

**Consolidated      Statements of Cash Flows**

**For      the Three Months Ended September 30, 2007 and 2006**

**(Unaudited)**

| *(In                thousands)*                                                                                      |   | 2007   |    |   | 2006   |   |
|----------------------------------------------------------------------------------------------------------------------|--------|--------|---------|--------|--------|--------|
| Cash                flows from operating activities:                                                                 |   |   |    |   |   |   |
| Net                Income                                                                                            |   | $      | 569     |   |   | $      | 754 |   |
| Adjustments                to reconcile net income to net cash provided by operating                activities:      |   |   |    |   |   |   |   |   |
|      Depreciation                                                                           |   |   | 258     |   |   |   | 224 |   |
|      Net                amortization of premiums and discounts                              |   |   | 80      |   |   |   | 255 |   |
|      Provision                for loan losses                                               |   |   | 143     |   |   |   | 45 |   |
|      ESOP                shares earned                                                      |   |   | 43      |   |   |   | 53 |   |
|      Net                increase in accrued income taxes                                    |   |   | 179     |   |   |   | 220 |   |
|      Net                decrease (increase) in accrued interest receivable                  |   |   | 96      |   |   |   | (12 | ) |
|      Net                (increase) decrease in prepaid and other assets                     |   |   | (26     | )      |   |   | 102 |   |
|      Net                decrease in other liabilities                                       |   |   | (257    | )      |   |   | (246 | ) |
|           Net                cash provided by operating activities |   |   | 1,085   |   |   |   | 1,395 |   |
|                                                                                                                 |   |   |    |   |   |   |   |   |
| Cash                flows from investing activities:                                                                 |   |   |    |   |   |   |   |   |
|      Proceeds                from maturities and calls of securities                        |   |   | 4,362   |   |   |   | 1,812 |   |
|      Purchases                of securities                                                 |   |   | (2,224  | )      |   |   | (3,034 | ) |
|      Principal                payments on securities                                        |   |   | 2,532   |   |   |   | 3,655 |   |
|      Net                increase in loans receivable                                        |   |   | (10,969 | )      |   |   | (6,358 | ) |
|      Proceeds                from sale of premises and equipment                            |   |   | 1       |   |   |   | --- |   |
|      Purchases                of premises and equipment                                     |   |   | (695    | )      |   |   | (1,403 | ) |
|           Net                cash (used in) investing activities   |   |   | (6,993  | )      |   |   | (5,328 | ) |
|                                                                                                                 |   |   |    |   |   |   |   |   |
| Cash                flows from financing activities:                                                                 |   |   |    |   |   |   |   |   |
|      Dividends                paid                                                          |   |   | (462    | )      |   |   | (424 | ) |
|      Proceeds                from exercise of stock options                                 |   |   | 2       |   |   |   | 4 |   |
|      Repurchase                of stock                                                     |   |   | (4      | )      |   |   | --- |   |
|      Net                increase in deposits                                                |   |   | 12,885  |   |   |   | 1,209 |   |
|           Net                cash provided by financing activities |   |   | 12,421  |   |   |   | 789 |   |
|                                                                                                                 |   |   |    |   |   |   |   |   |
| Net                increase (decrease) in cash and cash equivalents                                                  |   |   | 6,513   |   |   |   | (3,144 | ) |
|                                                                                                                 |   |   |    |   |   |   |   |   |
| Cash                and cash equivalents at beginning of period                                                      |   |   | 14,026  |   |   |   | 15,852 |   |
|                                                                                                                 |   |   |    |   |   |   |   |   |
| Cash                and cash equivalents at end of period                                                            |   | $      | 20,539  |   |   | $      | 12,708 |   |

| *See                notes to consolidated financial statements.* |   |   |   |
|------------------------------------------------------------------|--------|--------|--------|

----

**Greene      County Bancorp, Inc.**

**Notes      to Consolidated Financial Statements**

**As      of and for the Three Months Ended September 30, 2007 and      2006**

**(1)**
**Basis      of Presentation**

**(2)**
**Nature      of Operations**

**(3)**
**Use      of Estimates**

**(4)**
**Earnings      Per Share **

|                                            |   |   |   |                      |   |   |                                 | Weighted                Average Number |   |                              |   |   |
|-------------------------------------------------|--------|--------|--------|---------------------------|--------|--------|--------------------------------------|----------------------------------------|--------|-----------------------------------|--------|--------|
|                                            |   |   |   | Net                Income |   |   | Of                Shares Outstanding |                                   |   | Earnings                per share |   |
| Three                months ended               |   |   |   |                      |   |   |                                 |                                   |   |                              |   |
| September                30, 2007               |   |   | $      | 569,000                   |   |   |                                 |                                   |   |                              |   |
| Basic                                           |   |   |   |                      |   |   |                                 | 4,137,556                              |   |                              | $      | 0.14   |   |
| Effect                of dilutive stock options |   |   |   |                      |   |   |                                 | 46,733                                 |   |                              |   | (0.00  | ) |
| Diluted                                         |   |   |   |                      |   |   |                                 | 4,184,289                              |   |                              | $      | 0.14   |   |
|                                            |   |   |   |                      |   |   |                                 |                                   |   |                              |   |   |   |   |
|                                            |   |   |   |                      |   |   |                                 |                                   |   |                              |   |   |   |   |
| Three                months ended               |   |   |   |                      |   |   |                                 |                                   |   |                              |   |   |   |
| September                30, 2006               |   |   | $      | 754,000                   |   |   |                                 |                                   |   |                              |   |   |   |
| Basic                                           |   |   |   |                      |   |   |                                 | 4,117,643                              |   |                              | $      | 0.18   |   |
| Effect                of dilutive stock options |   |   |   |                      |   |   |                                 | 70,282                                 |   |                              |   | (0.00  | ) |
| Diluted                                         |   |   |   |                      |   |   |                                 | 4,187,925                              |   |                              | $      | 0.18   |   |

| **(5)  ** | **        Dividends** |
|---------------------|---------------------------------------------------------------|

**(6)           Impact      of Inflation and Changing Prices**

**(7)                  Impact of Recent Accounting Pronouncements**

** (8)             Stock-Based Compensation**

----

|                                            | 2007   |   | 2006                            |
|-------------------------------------------------|--------|--------|---------------------------------|
|                                            |   |   | Weighted                average |   |   |   | Weighted                average |
|                                            |   |   | Exercise                        |   |   |   | Exercise |
|                                            |   |   | Price                           |   |   |   | Price |
|                                            | Shares |   | Per                Share        |   | Shares |   | Per                Share |
| Outstanding                at beginning of year | 72,664 |   | $4.55                           |   | 100,084 |   | $4.38 |
| Shares                granted                   | ---    |   | ---                             |   | --- |   | --- |
| Exercised                                       | (500)  |   | $3.94                           |   | (780) |   | $3.94 |
| Forfeited                                       | ---    |   | ---                             |   | --- |   | --- |
| Outstanding                at year end          | 72,164 |   | $4.56                           |   | 99,304 |   | $4.39 |
| Exercisable                at year end          | 72,164 |   | $4.56                           |   | 99,304 |   | $4.39 |

| Options                Outstanding and Exercisable |
|----------------------------------------------------|
|  Range                of Exercise Prices      |  Number                Outstanding | Weighted                Average Remaining Contractual Life | Weighted                Average Exercise Price |
| $3.94                                              | 63,664 | 2.50 | $3.94 |
| $9.20                                              | 8,500 | 4.50 | $9.20 |
| $3.94-$9.20                                        | 72,164 | 2.74 | $4.56 |

**(9)            Stock Repurchase Program**

**(10)            Income Taxes**

** (11)           **
**Subsequent events**

----

**Item      2.   Management’s Discussion and Analysis of      Financial Condition and Results of Operation**

**Overview      of the Company’s Activities and Risks**

**Special      Note Regarding Forward Looking Statements**

| (a)   | changes                in general market interest rates, |
|-----------------|----------------------------------------------------------|

| (b)   | general                economic conditions, |
|-----------------|---------------------------------------------|

| (c)   | legislative                and regulatory changes, |
|-----------------|----------------------------------------------------|

| (d)   | monetary                and fiscal policies of the U.S. Treasury and the Federal                Reserve, |
|-----------------|----------------------------------------------------------------------------------------------------------|

| (e)   | changes                in the quality or composition of The Bank of Greene County’s loan                portfolio or the consolidated investment portfolios of The Bank of                Greene                County and Greene County Bancorp,                Inc., |
|-----------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (f)   | deposit                flows, |
|-----------------|-------------------------------|

| (g)   | competition,                and |
|-----------------|---------------------------------|

| (h)   | demand                for financial services in Greene County Bancorp, Inc.’s market                area. |
|-----------------|-----------------------------------------------------------------------------------------------------------------|

----

**Comparison      of Financial Condition as of September 30, 2007 and June 30,      2007**

| * (Dollars                in thousands)*      | Fair                value atSept.                30, 2007     | Percentageof                portfolio                                      | Fair                value atJune                30, 2007           | Percentageof                portfolio                           |
|----------------------------------------------------|---------------------------------------------------------------|----------------------------------------------------------------------------|--------------------------------------------------------------------|-----------------------------------------------------------------|
|                                               |
|                                               |                                                          |                                                                       |                                                               |                                                            |
| U.S.                government agencies            |                  $17,897                                 |                       21.5%             |  $19,628                                                      |      22.5%                             |
| State                and political subdivisions    |                  28,634                                  |                      34.4     |                  29,034                                       |      33.3          |
| Mortgage-backed                securities          |                  36,294                                  |      43.7                               |                  38,157                                       |      43.8          |
| Asset-backed                securities             |                         70 |       0.1                          |                         76 |       0.1          |
| Total                debt securities               |                  82,895                                  |     99.7                                     |                   86,895                                 |     99.7                     |
|                                               |                                                          |                                                                       |                                                               |                                                            |
| Equity                securities and other         |                      284                  |      0.3                                     |                        289      |       0.3     |
|                                               |                                                          |                                                                       |                                                               |                                                            |
| Total                available-for-sale securities | $83,179                                                       |                   100.0%                                         | $87,184                                                            |                   100.0%                              |

----

| *(Dollars                in thousands)*            |   |   |   |                            |   |   |                                  |   |   |                           |   |    |                                  |
|---------------------------------------------------------|--------|--------|--------|---------------------------------|--------|--------|---------------------------------------|--------|--------|--------------------------------|--------|---------|---------------------------------------|
|                                                    |   |   |   | AtSept.                30, 2007 |   |   | Percentageof                portfolio |   |   | AtJune                30, 2007 |   |    | Percentageof                portfolio |   |
| Real                estate mortgages                    |   |   |   |                            |   |   |                                  |   |   |                           |   |    |                                  |
| Residential                                             |   |   | $      | 157,471                         |   |   |                                  | 71.7   | %      |                           | $      | 150,215 |                                  |   |   | 72.0 | % |
| Commercial                                              |   |   |   | 26,432                          |   |   |                                  | 12.0   |   |                           |   | 25,740  |                                  |   |   | 12.3 |   |
| Home                equity loans                        |   |   |   | 22,116                          |   |   |                                  | 10.1   |   |                           |   | 19,719  |                                  |   |   | 9.5 |   |
| Commercial                loans                         |   |   |   | 8,856                           |   |   |                                  | 4.0    |   |                           |   | 8,391   |                                  |   |   | 4.0 |   |
| Installment                loans                        |   |   |   | 4,171                           |   |   |                                  | 1.9    |   |                           |   | 4,057   |                                  |   |   | 1.9 |   |
| Passbook                loans                           |   |   |   | 572                             |   |   |                                  | 0.3    |   |                           |   | 583     |                                  |   |   | 0.3 |   |
| Total                loans                              |   |   | $      | 219,618                         |   |   |                                  | 100.0  | %      |                           | $      | 208,705 |                                  |   |   | 100.0 | % |
| Less:                Allowance for loan losses          |   |   |   | (1,597                          | )      |   |                                  |   |   |                           |   | (1,486  | )                                     |   |   |   |   |
| Unearned                origination fees and costs, net |   |   |   | 85                              |   |   |                                  |   |   |                           |   | 61      |                                  |   |   |   |   |
| Net                loans receivable                     |   |   | $      | 218,106                         |   |   |                                  |   |   |                           | $      | 207,280 |                                  |   |   |   |   |

----

| *(Dollars                in thousands)*                                         |   |   | Quarter                ended |                              |   | Quarter                ended |                              |
|---------------------------------------------------------------------------------|--------|--------|------------------------------|-----------------------------------|--------|------------------------------|-----------------------------------|
|                                                                            |   |   |                         | September                30, 2007 |   |                         | September                30, 2006 |   |
|                                                                            |   |   |                         |                              |   |                         |                              |   |
| Balance                at the beginning of the period                           |   |   | $                            | 1,486                             |   |                         | $                                 | 1,314 |   |
| Charge-offs:                                                                    |   |   |                         |                              |   |                         |                              |   |   |
| Commercial                Loans                                                 |   |   |                         | --                                |   |                         |                              | 7 |   |
| Installment                loans to individuals                                 |   |   |                         | 12                                |   |                         |                              | 14 |   |
| Overdraft                protection                                             |   |   |                         | 69                                |   |                         |                              | 34 |   |
| Total                loans charged off                                          |   |   |                         | 81                                |   |                         |                              | 55 |   |
|                                                                            |   |   |                         |                              |   |                         |                              |   |   |   |
| Recoveries:                                                                     |   |   |                         |                              |   |                         |                              |   |   |
| Home                equity loans                                                |   |   |                         | 27                                |   |                         |                              | -- |   |
| Installment                loans to individuals                                 |   |   |                         | 7                                 |   |                         |                              | 12 |   |
| Overdraft                protection                                             |   |   |                         | 15                                |   |                         |                              | 9 |   |
| Total                recoveries                                                 |   |   |                         | 49                                |   |                         |                              | 21 |   |
|                                                                            |   |   |                         |                              |   |                         |                              |   |   |   |
| Net                charge-offs                                                  |   |   |                         | 32                                |   |                         |                              | 34 |   |
|                                                                            |   |   |                         |                              |   |                         |                              |   |   |   |
| Provisions                charged to operations                                 |   |   |                         | 143                               |   |                         |                              | 45 |   |
| Balance                at the end of the period                                 |   |   | $                            | 1,597                             |   |                         | $                                 | 1,325 |   |
|                                                                            |   |   |                         |                              |   |                         |                              |   |   |   |
| Ratio                of annualized net charge-offs to average loans outstanding |   |   |                         | 0.06                              | %      |                         |                              | 0.07 | % |
| Ratio                of annualized net charge-offs to nonperforming assets      |   |   |                         | 15.80                             | %      |                         |                              | 277.55 | % |
| Allowance                for loan losses to nonperforming loans                 |   |   |                         | 197.16                            | %      |                         |                              | 2,704.08 | % |
| Allowance                for loan losses to total loans receivable              |   |   |                         | 0.73                              | %      |                         |                              | 0.67 | % |

----

| *(Dollars                in thousands)*                                                       |   |   | At                September 30, 2007 |   |   | At                June 30, 2007 |   |
|-----------------------------------------------------------------------------------------------|--------|--------|--------------------------------------|--------|--------|---------------------------------|--------|
|                                                                                          |   |   |                                 |   |   |                            |   |   |
|                                                                                          |   |   |                                 |   |   |                            |   |   |
| Nonaccruing                loans:                                                             |   |   |                                 |   |   |                            |   |
| Real                estate mortgage loans                                                     |   |   |                                 |   |   |                            |   |
| Residential                mortgages loans (one- to four-family)                              |   |   | $                                    | 587    |   |                            | $      | 451 |   |
| Commercial                mortgage loans                                                      |   |   |                                 | ---    |   |                            |   | 111 |   |
| Home                equity                                                                    |   |   |                                 | 99     |   |                            |   | 110 |   |
| Commercial                loans                                                               |   |   |                                 | 115    |   |                            |   | --- |   |
| Installment                loans to individuals                                               |   |   |                                 | 9      |   |                            |   | 10 |   |
|                                                                                          |   |   |                                 |   |   |                            |   |   |   |   |
| Total                nonaccruing loans                                                        |   |   |                                 | 810    |   |                            |   | 682 |   |
|                                                                                          |   |   |                                 |   |   |                            |   |   |   |   |
| Foreclosed                real estate                                                         |   |   |                                 | ---    |   |                            |   | --- |   |
|                                                                                          |   |   |                                 |   |   |                            |   |   |   |   |
| Total                nonperforming assets                                                     |   |   | $                                    | 810    |   |                            | $      | 682 |   |
|                                                                                          |   |   |                                 |   |   |                            |   |   |   |   |
| Total                nonperforming assets as                a percentage of total assets |   |   |                                 | 0.24   | %      |                            |   | 0.21 | % |
|                                                                                          |   |   |                                 |   |   |                            |   |   |   |   |
| Total                nonperforming loans to total loans                                       |   |   |                                 | 0.37   | %      |                            |   | 0.33 | % |
|                                                                                          |   |   |                                 |   |   |                            |   |   |   |   |

----

| *(Dollars                in thousands)*     |   |   |   |                            |   |   |                                  |   |   |                           |   |    |                                  |
|---------------------------------------------|--------|--------|--------|---------------------------------|--------|--------|---------------------------------------|--------|--------|--------------------------------|--------|---------|---------------------------------------|
|                                        |   |   |   | AtSept.                30, 2007 |   |   | PercentageOf                portfolio |   |   | AtJune                30, 2007 |   |    | PercentageOf                portfolio |   |
|                                        |   |   |   |                            |   |   |                                  |   |   |                           |   |    |                                  |   |
| Noninterest                bearing deposits |   |   | $      | 41,639                          |   |   |                                  | 14.0   | %      |                           | $      | 44,020  |                                  |   |   | 15.5 | % |
| Certificates                of deposit      |   |   |   | 80,667                          |   |   |                                  | 27.2   |   |                           |   | 74,563  |                                  |   |   | 26.2 |   |
| Savings                deposits             |   |   |   | 67,168                          |   |   |                                  | 22.6   |   |                           |   | 71,830  |                                  |   |   | 25.3 |   |
| Money                market deposits        |   |   |   | 40,664                          |   |   |                                  | 13.7   |   |                           |   | 37,710  |                                  |   |   | 13.3 |   |
| NOW                deposits                 |   |   |   | 66,923                          |   |   |                                  | 22.5   |   |                           |   | 56,053  |                                  |   |   | 19.7 |   |
| Total                deposits               |   |   | $      | 297,061                         |   |   |                                  | 100.0  | %      |                           | $      | 284,176 |                                  |   |   | 100.0 | % |

| Amount     | Rate                               | Maturity                Date |
|------------|------------------------------------|------------------------------|
|       |                               |                         |
| $5,000,000 | 3.64%                - convertible | 10/24/2013              |

----

**Comparison      of Operating Results for the Three Months Ended September 30, 2007 and      2006**

**Average      Balance Sheet**

| *(Dollars                in thousands)*               |   |   | 2007   |        |   | 2007   |     |   | 2007   |    |   | 2006   |        |   | 2006   |     |   | 2006   |    |
|-------------------------------------------------------|--------|--------|--------|-------------|--------|--------|----------|--------|--------|---------|--------|--------|-------------|--------|--------|----------|--------|--------|---------|
|                                                  |   |   |   | Average     |   |   | Interest |   |   | Average |   |   | Average     |   |   | Interest |   |   | Average |   |
|                                                  |   |   |   | Outstanding |   |   | Earned/  |   |   | Yield/  |   |   | Outstanding |   |   | Earned/  |   |   | Yield/  |   |
|                                                  |   |   |   | Balance     |   |   | Paid     |   |   | Rate    |   |   | Balance     |   |   | Paid     |   |   | Rate    |   |
| Interest                earning assets:               |   |   |   |        |   |   |     |   |   |    |   |   |        |   |   |     |   |   |    |
| Loans                receivable, net1                 |   |   | $      | 213,537     |   |   | $        | 3,558  |   |    |   | 6.66   | %           |   | $      | 194,365  |   |   | $       | 3,179 |   |   |   | 6.54 | % |
| Securities2                                           |   |   |   | 87,251      |   |   |     | 912    |   |    |   | 4.18   |        |   |   | 85,646   |   |   |    | 780 |   |   |   | 3.64 |   |
| Federal                funds                          |   |   |   | 5,958       |   |   |     | 75     |   |    |   | 5.04   |        |   |   | 5,479    |   |   |    | 71 |   |   |   | 5.18 |   |
| Interest                bearing bank balances         |   |   |   | 4,565       |   |   |     | 52     |   |    |   | 4.56   |        |   |   | 2,805    |   |   |    | 31 |   |   |   | 4.42 |   |
| FHLB                stock                             |   |   |   | 657         |   |   |     | 12     |   |    |   | 7.31   |        |   |   | 643      |   |   |    | 10 |   |   |   | 6.22 |   |
| Total                interest earning assets          |   |   |   | 311,968     |   |   |     | 4,609  |   |    |   | 5.91   | %           |   |   | 288,938  |   |   |    | 4,071 |   |   |   | 5.64 | % |
| Cash                and due from banks                |   |   |   | 16,241      |   |   |     |   |   |    |   |   |        |   |   | 12,708   |   |   |    |   |   |   |   |   |   |
| Allowance                for loan losses              |   |   |   | (1,509      | )      |   |     |   |   |    |   |   |        |   |   | (1,313   | )      |   |    |   |   |   |   |   |   |
| Other                non-interest earning assets      |   |   |   | 5,243       |   |   |     |   |   |    |   |   |        |   |   | 7,306    |   |   |    |   |   |   |   |   |   |
| Total                assets                           |   |   | $      | 331,943     |   |   |     |   |   |    |   |   |        |   | $      | 307,639  |   |   |    |   |   |   |   |   |   |
|                                                  |   |   |   |        |   |   |     |   |   |    |   |   |        |   |   |     |   |   |    |   |   |   |   |   |   |   |
|                                                  |   |   |   |        |   |   |     |   |   |    |   |   |        |   |   |     |   |   |    |   |   |   |   |   |   |   |
| Interest                bearing liabilities:          |   |   |   |        |   |   |     |   |   |    |   |   |        |   |   |     |   |   |    |   |   |   |   |   |   |
| Savings                and money market deposits      |   |   | $      | 111,929     |   |   | $        | 557    |   |    |   | 1.99   | %           |   | $      | 130,762  |   |   | $       | 650 |   |   |   | 1.99 | % |
| NOW                deposits                           |   |   |   | 59,270      |   |   |     | 383    |   |    |   | 2.58   |        |   |   | 35,302   |   |   |    | 176 |   |   |   | 1.99 |   |
| Certificates                of deposit                |   |   |   | 77,737      |   |   |     | 862    |   |    |   | 4.43   |        |   |   | 61,860   |   |   |    | 550 |   |   |   | 3.56 |   |
| Borrowings                                            |   |   |   | 5,000       |   |   |     | 46     |   |    |   | 3.68   |        |   |   | 5,002    |   |   |    | 46 |   |   |   | 3.68 |   |
| Total                interest bearing liabilities     |   |   |   | 253,936     |   |   |     | 1,848  |   |    |   | 2.91   | %           |   |   | 232,926  |   |   |    | 1,422 |   |   |   | 2.44 | % |
| Non-interest                bearing deposits          |   |   |   | 41,522      |   |   |     |   |   |    |   |   |        |   |   | 40,234   |   |   |    |   |   |   |   |   |   |
| Other                non-interest bearing liabilities |   |   |   | 927         |   |   |     |   |   |    |   |   |        |   |   | 597      |   |   |    |   |   |   |   |   |   |
| Shareholders’                equity             |   |   |   | 35,558      |   |   |     |   |   |    |   |   |        |   |   | 33,882   |   |   |    |   |   |   |   |   |   |
| Total                liabilities and equity           |   |   | $      | 331,943     |   |   |     |   |   |    |   |   |        |   | $      | 307,639  |   |   |    |   |   |   |   |   |   |
|                                                  |   |   |   |        |   |   |     |   |   |    |   |   |        |   |   |     |   |   |    |   |   |   |   |   |   |   |
| Net                interest income                    |   |   |   |        |   |   | $        | 2,761  |   |    |   |   |        |   |   |     |   |   | $       | 2,649 |   |   |   |   |   |
|                                                  |   |   |   |        |   |   |     |   |   |    |   |   |        |   |   |     |   |   |    |   |   |   |   |   |   |   |
| Net                interest rate spread               |   |   |   |        |   |   |     |   |   |    |   | 3.00   | %           |   |   |     |   |   |    |   |   |   |   | 3.20 | % |
|                                                  |   |   |   |        |   |   |     |   |   |    |   |   |        |   |   |     |   |   |    |   |   |   |   |   |   |   |
| Net                interest margin                    |   |   |   |        |   |   |     |   |   |    |   | 3.54   | %           |   |   |     |   |   |    |   |   |   |   | 3.67 | % |
|                                                  |   |   |   |        |   |   |     |   |   |    |   |   |        |   |   |     |   |   |    |   |   |   |   |   |   |   |
| Average                interest earning assets to     |   |   |   |        |   |   |     |   |   |    |   |   |        |   |   |     |   |   |    |   |   |   |   |   |   |
| average                interest bearing liabilities   |   |   |   |        |   |   |     |   |   |    |   | 122.85 | %           |   |   |     |   |   |    |   |   |   |   | 124.05 | % |

----

**Rate      / Volume Analysis**

| (i)   | Change                attributable to changes in volume (changes in volume multiplied by                prior                rate); |
|-----------------|-------------------------------------------------------------------------------------------------------------------------------------|

| (ii)   | Change                attributable to changes in rate (changes in rate multiplied by prior                volume); and |
|------------------|------------------------------------------------------------------------------------------------------------------------|

| (iii)   | The                net change. |
|-------------------|--------------------------------|

|                                              |   |   |                            | Three                MonthsEnded                September 30, |   |
|---------------------------------------------------|--------|--------|---------------------------------|---------------------------------------------------------------|--------|
| *(In                thousands)*                   |   |   | 2007                versus 2006 |                                                          |
|                                              |   |   |                            |                                                          |   |   |   |   |   |   |   |
|                                              |   |   |                            | Increase/(Decrease)                                           |   |   | Total                       |   |
|                                              |   |   |                            | Due                to                                         |   |   | Increase/                   |   |
| Interest-earning                assets:           |   |   | Volume                          |                                                          |   | Rate |   |   | (Decrease)   |   |
| Loans                receivable, net1             |   |   | $                               | 320                                                           |   |   | $ | 59 |   |   | $ | 379 |   |
| Investment                securities2             |   |   |                            | 15                                                            |   |   |   | 117 |   |   |   | 132 |   |
| Federal                funds                      |   |   |                            | 6                                                             |   |   |   | (2 | ) |   |   | 4 |   |
| Interest-bearing                bank balances     |   |   |                            | 20                                                            |   |   |   | 1 |   |   |   | 21 |   |
| FHLB                stock                         |   |   |                            | --                                                            |   |   |   | 2 |   |   |   | 2 |   |
| Total                interest-earning assets      |   |   |                            | 361                                                           |   |   |   | 177 |   |   |   | 538 |   |
|                                              |   |   |                            |                                                          |   |   |   |   |   |   |   |   |   |   |
| Interest-bearing                liabilities:      |   |   |                            |                                                          |   |   |   |   |   |   |   |   |   |
| Savings                deposits                   |   |   |                            | (93                                                           | )      |   |   | -- |   |   |   | (93 | ) |
| NOW                deposits                       |   |   |                            | 144                                                           |   |   |   | 63 |   |   |   | 207 |   |
| Certificates                of deposit            |   |   |                            | 160                                                           |   |   |   | 152 |   |   |   | 312 |   |
| Borrowings                                        |   |   |                            | --                                                            |   |   |   | -- |   |   |   | -- |   |
| Total                interest-bearing liabilities |   |   |                            | 211                                                           |   |   |   | 215 |   |   |   | 426 |   |
| Net                interest income                |   |   | $                               | 150                                                           |   |   | $ | (38 | ) |   | $ | 112 |   |

----

**Item      3.     Controls and      Procedures**

----

**Part      II.    Other Information**

Item      1. 

 Item      2. 

| a)   | Not                applicable |
|----------------|-------------------------------|

| b)   | Not                applicable |
|----------------|-------------------------------|

| c)   | The                following table presents a summary of the Company’s share repurchases                during the quarter ended September 30,                2007. |
|----------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Period                                          | Total                Number of Shares Purchased | Average                Price Paid Per Share | Total                Number of Shares Purchased as Part of Publicly Announced Program                (1) | Maximum                Number of Shares That May yet be Purchased Under the Program                (1) |
|-------------------------------------------------|-------------------------------------------------|---------------------------------------------|----------------------------------------------------------------------------------------------------------|--------------------------------------------------------------------------------------------------------|
| August                1 - August 31, 2007       | ---                                             | ---                                         | ---                                                                                                      | 92,346                                                                                                 |
| September                1 - September 30, 2007 | 280                                             | $13.09                                      | 280                                                                                                      | 92,066                                                                                                 |

Item      3.  

Item      4. 

 Item      5. 

 Item      6. 

----

**SIGNATURES**

----

**EXHIBIT      31.1**

**Certification      of Chief Executive Officer**

**Pursuant      to Section 302 of the Sarbanes-Oxley Act of 2002**

| 1. | I                have reviewed this quarterly report on Form 10-QSB of Greene County                Bancorp, Inc.; |
|----|--------------------------------------------------------------------------------------------------------------------|

| 2. | Based                on my knowledge, this quarterly report does not contain any untrue                statement of a material fact or omit to state a material fact necessary                to                make the statements made, in light of the circumstances under which                such                statements were made, not misleading with respect to the period covered                by                this report; |
|----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 3. | Based                on my knowledge, the financial statements, and other financial information                included in this  quarterly report, fairly present in all                material respects the financial condition, results of operations                and cash                flows of the small business issuer as of, and for, the periods presented                in this report; |
|----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 4. | The                small business issuer’s other certifying officer and I are responsible for                establishing and maintaining disclosure controls and procedures (as                defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) for the small                business issuer and have: |
|----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 5. | The                small business issuer’s other certifying officer and I have disclosed,                based on our most recent evaluation of internal control over financial                reporting, to the small business issuer’s auditors and the audit committee                of the small business issuer’s board of                directors: |
|----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | President                and Chief Executive Officer |
|--------|------------------------------------------------------|

----

**EXHIBIT      31.2**

**Certification      of Chief Financial Officer**

**Pursuant      to Section 302 of the Sarbanes-Oxley Act of 2002**

| 1. | I                have reviewed this quarterly report on Form 10-QSB of Greene County                Bancorp, Inc.; |
|----|--------------------------------------------------------------------------------------------------------------------|

| 2. | Based                on my knowledge, this quarterly report does not contain any untrue                statement of a material fact or omit to state a material fact necessary                to                make the statements made, in light of the circumstances under which                such                statements were made, not misleading with respect to the period covered                by                this report; |
|----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 3. | Based                on my knowledge, the financial statements, and other financial information                included in this  quarterly report, fairly present in all                material respects the financial condition, results of operations                and cash                flows of the small business issuer as of, and for, the periods presented                in this report; |
|----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 4. | The                small business issuer’s other certifying officer and I are responsible for                establishing and maintaining disclosure controls and procedures (as                defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) for the small                business issuer and have: |
|----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 5. | The                small business issuer’s other certifying officer and I have disclosed,                based on our most recent evaluation of internal control over financial                reporting, to the small business issuer’s auditors and the audit committee                of the small business issuer’s board of                directors: |
|----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   |  Executive                Vice President, Chief Financial Officer and Chief Operating                Officer |
|--------|-------------------------------------------------------------------------------------------------------------------|

**EXHIBIT      32.1**

**Statement      of Chief Executive Officer**

**Pursuant      to Section 906 of the Sarbanes-Oxley Act of 2002**

| 1.   | the                report fully complies with the requirements of Section 13(a) or 15(d)                of                the Securities Exchange Act of 1934;                and |
|----------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 2.   | the                information contained in the report fairly presents, in all material                respects, the financial condition and results of operations of the                Company                as of the dates and for the periods covered by the                report. |
|----------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | President                and Chief Executive Officer |
|--------|------------------------------------------------------|

----

**EXHIBIT      32.2**

**Statement      of Chief Financial Officer**

**Pursuant      to Section 906 of the Sarbanes-Oxley Act of 2002**

| 1.   | the                report fully complies with the requirements of Section 13(a) or 15(d)                of                the Securities Exchange Act of 1934;                and |
|----------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 2.   | the                information contained in the report fairly presents, in all material                respects, the financial condition and results of operations of the                Company                as of the dates and for the periods covered by the                report. |
|----------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | Executive                Vice President, Chief Financial Officer and Chief Operating                Officer |
|--------|-------------------------------------------------------------------------------------------------------------|