----

|     | GREENE COUNTY BANCORP, INC.                                                                                                                                                                                                                                                                          |   |     |   |
|----------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|----------|--------|
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|     |                                                                                                                                                                                                                                                                                                 |   |     |   |
|     |                                                                                                                                                                                                                                                                                                 |   |     |   |
|     | INDEX                                                                                                                                                                                                                                                                                                |   |     |   |
|     |                                                                                                                                                                                                                                                                                                 |   |     |   |
|     |                                                                                                                                                                                                                                                                                                 |   |     |   |
|     |                                                                                                                                                                                                                                                                                                 |   |     |   |
| PART I.  | FINANCIAL INFORMATION                                                                                                                                                                                                                                                                                |   |     |   |
|     |                                                                                                                                                                                                                                                                                                 |   | Page     |   |
| Item 1.  | Financial Statements (unaudited)                                                                                                                                                                                                                                                                     |   |     |   |
|     | *   Consolidated Statements of Financial Condition                                                                                                                                                                                                                                    |   | 3        |   |
|     | *   Consolidated Statements of Income                                                                                                                                                                                                                                                 |   | 4-5      |   |
|     | *   Consolidated Statements of Comprehensive Income                                                                                                                                                                                                                                   |   | 6        |   |
|     | *   Consolidated Statements of Changes in Shareholders’ Equity                                                                                                                                                                                                                  |   | 7        |   |
|     | *   Consolidated Statements of Cash Flows                                                                                                                                                                                                                                             |   | 8        |   |
|     | *   Notes to Consolidated Financial Statements                                                                                                                                                                                                                                        |   | 9-26     |   |
|     |                                                                                                                                                                                                                                                                                                 |   |     |   |
| Item 2.  | Management’s Discussion and Analysis of Financial Condition and Results of Operation                                                                                                                                                                                                           |   | 26-39    |   |
|     |                                                                                                                                                                                                                                                                                                 |   |     |   |
| Item 3.  | Quantitative and Qualitative Disclosures About Market Risk                                                                                                                                                                                                                                           |   | 39       |   |
|     |                                                                                                                                                                                                                                                                                                 |   |     |   |
| Item 4.  | Controls and Procedures                                                                                                                                                                                                                                                                              |   | 39-40    |   |
|     |                                                                                                                                                                                                                                                                                                 |   |     |   |
| PART II. | OTHER INFORMATION                                                                                                                                                                                                                                                                                    |   |     |   |
|     |                                                                                                                                                                                                                                                                                                 |   |     |   |
| Item 1.  | Legal Proceedings                                                                                                                                                                                                                                                                                    |   | 40       |   |
|     |                                                                                                                                                                                                                                                                                                 |   |     |   |
| Item 1A. | Risk Factors                                                                                                                                                                                                                                                                                         |   | 40       |   |
|     |                                                                                                                                                                                                                                                                                                 |   |     |   |
| Item 2.  | Unregistered Sales of Equity Securities and Use of Proceeds                                                                                                                                                                                                                                          |   | 40       |   |
|     |                                                                                                                                                                                                                                                                                                 |   |     |   |
| Item 3.  | Defaults Upon Senior Securities                                                                                                                                                                                                                                                                      |   | 40       |   |
|     |                                                                                                                                                                                                                                                                                                 |   |     |   |
| Item 4.  | [Removed and Reserved]                                                                                                                                                                                                                                                                               |   | 40       |   |
|     |                                                                                                                                                                                                                                                                                                 |   |     |   |
| Item 5.  | Other Information                                                                                                                                                                                                                                                                                    |   | 40       |   |
|     |                                                                                                                                                                                                                                                                                                 |   |     |   |
| Item 6.  | Exhibits                                                                                                                                                                                                                                                                                             |   | 40       |   |
|     |                                                                                                                                                                                                                                                                                                 |   |     |   |
|     | Signatures                                                                                                                                                                                                                                                                                           |   | 41       |   |
|     |    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 |   | 42434445 |   |

Greene County Bancorp, Inc.

| ASSETS                                                                                                                                                                                                                                                        |   | March 31, 2011 |    |   | June 30, 2010 |   |
|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|----------------|---------|--------|---------------|--------|
| Cash and due from banks                                                                                                                                                                                                                                       |   | $              | 24,761  |   |          | $      | 9,253 |   |
| Federal funds sold                                                                                                                                                                                                                                            |   |           | 3,835   |   |          |   | 390 |   |
|     Total cash and cash equivalents                                                                                                                                                                                                       |   |           | 28,596  |   |          |   | 9,643 |   |
|                                                                                                                                                                                                                                                          |   |           |    |   |          |   |   |   |
| Long term certificate of deposit                                                                                                                                                                                                                              |   |           | ---     |   |          |   | 1,000 |   |
| Securities available for sale, at fair value                                                                                                                                                                                                                  |   |           | 94,938  |   |          |   | 89,805 |   |
| Securities held to maturity, at amortized cost                                                                                                                                                                                                                |   |           | 117,634 |   |          |   | 77,520 |   |
| Federal Home Loan Bank stock, at cost                                                                                                                                                                                                                         |   |           | 1,232   |   |          |   | 1,866 |   |
|                                                                                                                                                                                                                                                          |   |           |    |   |          |   |   |   |
| Loans                                                                                                                                                                                                                                                         |   |           | 301,071 |   |          |   | 299,200 |   |
|   Allowance for loan losses                                                                                                                                                                                                                         |   |           | (4,876  | )      |          |   | (4,024 | ) |
|   Unearned origination fees and costs, net                                                                                                                                                                                                          |   |           | 456     |   |          |   | 406 |   |
|     Net loans receivable                                                                                                                                                                                                                  |   |           | 296,651 |   |          |   | 295,582 |   |
|                                                                                                                                                                                                                                                          |   |           |    |   |          |   |   |   |
| Premises and equipment                                                                                                                                                                                                                                        |   |           | 15,515  |   |          |   | 14,804 |   |
| Accrued interest receivable                                                                                                                                                                                                                                   |   |           | 2,828   |   |          |   | 2,731 |   |
| Foreclosed real estate                                                                                                                                                                                                                                        |   |           | 563     |   |          |   | --- |   |
| Prepaid expenses and other assets                                                                                                                                                                                                                             |   |           | 2,487   |   |          |   | 2,372 |   |
|                Total assets                                                                                                                                                        |   | $              | 560,444 |   |          | $      | 495,323 |   |
|                                                                                                                                                                                                                                                          |   |           |    |   |          |   |   |   |
| LIABILITIES AND SHAREHOLDERS’ EQUITY                                                                                                                                                                                                                    |   |           |    |   |          |   |   |   |
| Noninterest bearing deposits                                                                                                                                                                                                                                  |   | $              | 48,959  |   |          | $      | 44,239 |   |
| Interest bearing deposits                                                                                                                                                                                                                                     |   |           | 449,890 |   |          |   | 377,493 |   |
|     Total deposits                                                                                                                                                                                                                        |   |           | 498,849 |   |          |   | 421,732 |   |
|                                                                                                                                                                                                                                                          |   |           |    |   |          |   |   |   |
| Borrowings from FHLB, short-term                                                                                                                                                                                                                              |   |           | ---     |   |          |   | 9,100 |   |
| Borrowings from FHLB, long-term                                                                                                                                                                                                                               |   |           | 12,000  |   |          |   | 17,000 |   |
| Accrued expenses and other liabilities                                                                                                                                                                                                                        |   |           | 2,864   |   |          |   | 2,988 |   |
|                 Total liabilities                                                                                                                                             |   |           | 513,713 |   |          |   | 450,820 |   |
|                                                                                                                                                                                                                                                          |   |           |    |   |          |   |   |   |
| Shareholders’ equity:                                                                                                                                                                                                                                   |   |           |    |   |          |   |   |   |
| Preferred stock,                                                                                                                                                                                                                                              |   |           |    |   |          |   |   |   |
|   Authorized   -   1,000,000 shares; Issued - None                                                                                                                                                                    |   |           | ---     |   |          |   | --- |   |
| Common stock, par value $.10 per share;                                                                                                                                                                                                                       |   |           |    |   |          |   |   |   |
|    Authorized  - 12,000,000 shares                                                                                                                                                                                                   |   |           |    |   |          |   |   |   |
|    Issued          -   4,305,670 shares                                                                                                                                       |   |           |    |   |          |   |   |   |
|    Outstanding -   4,145,828 shares at March 31, 2011                                                                                                                                                                           |   |           |    |   |          |   |   |   |
|                             4,118,912 shares at June 30, 2010;                                                    |   |           | 431     |   |          |   | 431 |   |
| Additional paid-in capital                                                                                                                                                                                                                                    |   |           | 10,945  |   |          |   | 10,666 |   |
| Retained earnings                                                                                                                                                                                                                                             |   |           | 36,282  |   |          |   | 33,692 |   |
| Accumulated other comprehensive income                                                                                                                                                                                                                        |   |           | 279     |   |          |   | 1,123 |   |
| Treasury stock, at cost 159,842 shares at March 31, 2011                                                                                                                                                                                                      |   |           |    |   |          |   |   |   |
|                                      186,758 shares at June 30, 2010 |   |           | (1,206  | )      |          |   | (1,409 | ) |
|                Total shareholders’ equity                                                                                                                                    |   |           | 46,731  |   |          |   | 44,503 |   |
|                Total liabilities and shareholders’ equity                                                                                                                    |   | $              | 560,444 |   |          | $      | 495,323 |   |

----

Greene County Bancorp, Inc.

| Interest income:                                                                 |   | 2011   |      |   | 2010   |   |
|----------------------------------------------------------------------------------|--------|--------|-----------|--------|--------|--------|
|     Loans                                                    |   | $      | 13,434    |   |   | $      | 12,830 |   |
|     Investment securities - taxable                          |   |   | 875       |   |   |   | 852 |   |
|     Mortgage-backed securities                               |   |   | 2,821     |   |   |   | 2,805 |   |
|     Investment securities - tax exempt                       |   |   | 879       |   |   |   | 783 |   |
|     Interest bearing deposits and federal funds sold         |   |   | 32        |   |   |   | 13 |   |
| Total interest income                                                            |   |   | 18,041    |   |   |   | 17,283 |   |
|                                                                             |   |   |      |   |   |   |   |   |
| Interest expense:                                                                |   |   |      |   |   |   |   |   |
|     Interest on deposits                                     |   |   | 3,007     |   |   |   | 3,596 |   |
|     Interest on borrowings                                   |   |   | 422       |   |   |   | 486 |   |
| Total interest expense                                                           |   |   | 3,429     |   |   |   | 4,082 |   |
|                                                                             |   |   |      |   |   |   |   |   |
| Net interest income                                                              |   |   | 14,612    |   |   |   | 13,201 |   |
| Provision for loan losses                                                        |   |   | 1,179     |   |   |   | 984 |   |
| Net interest income after provision for loan losses                              |   |   | 13,433    |   |   |   | 12,217 |   |
|                                                                             |   |   |      |   |   |   |   |   |
| Non-interest income:                                                             |   |   |      |   |   |   |   |   |
|     Service charges on deposit accounts                      |   |   | 1,733     |   |   |   | 2,105 |   |
|     Debit card fees                                          |   |   | 925       |   |   |   | 784 |   |
|     Investment services                                      |   |   | 199       |   |   |   | 207 |   |
|     E-commerce fees                                          |   |   | 83        |   |   |   | 78 |   |
|     Net gain (loss) on sale of available-for-sale securities |   |   | 233       |   |   |   | (5 | ) |
|     Other operating income                                   |   |   | 390       |   |   |   | 355 |   |
| Total non-interest income                                                        |   |   | 3,563     |   |   |   | 3,524 |   |
|                                                                             |   |   |      |   |   |   |   |   |
| Non-interest expense:                                                            |   |   |      |   |   |   |   |   |
|     Salaries and employee benefits                           |   |   | 6,025     |   |   |   | 5,353 |   |
|     Occupancy expense                                        |   |   | 973       |   |   |   | 945 |   |
|     Equipment and furniture expense                          |   |   | 401       |   |   |   | 487 |   |
|     Service and data processing fees                         |   |   | 1,111     |   |   |   | 999 |   |
|     Computer software, supplies and support                  |   |   | 207       |   |   |   | 258 |   |
|     Advertising and promotion                                |   |   | 245       |   |   |   | 192 |   |
|     FDIC insurance premiums                                  |   |   | 468       |   |   |   | 422 |   |
|     Legal and professional fees                              |   |   | 273       |   |   |   | 315 |   |
|     Other                                                    |   |   | 1,358     |   |   |   | 1,245 |   |
| Total non-interest expense                                                       |   |   | 11,061    |   |   |   | 10,216 |   |
|                                                                             |   |   |      |   |   |   |   |   |
| Income before provision for income taxes                                         |   |   | 5,935     |   |   |   | 5,525 |   |
| Provision for income taxes                                                       |   |   | 2,020     |   |   |   | 1,899 |   |
| Net income                                                                       |   | $      | 3,915     |   |   | $      | 3,626 |   |
|                                                                             |   |   |      |   |   |   |   |   |
| Basic EPS                                                                        |   | $      | 0.95      |   |   | $      | 0.88 |   |
| Basic average shares outstanding                                                 |   |   | 4,131,052 |   |   |   | 4,110,014 |   |
| Diluted EPS                                                                      |   | $      | 0.94      |   |   | $      | 0.88 |   |
| Diluted average shares outstanding                                               |   |   | 4,162,716 |   |   |   | 4,135,000 |   |
| Dividends per share                                                              |   | $      | 0.725     |   |   | $      | 0.51 |   |

| Interest income:                                                          |   | 2011   |      |   | 2010   |   |
|---------------------------------------------------------------------------|--------|--------|-----------|--------|--------|--------|
|     Loans                                             |   | $      | 4,388     |   |   | $      | 4,374 |   |
|     Investment securities - taxable                   |   |   | 298       |   |   |   | 260 |   |
|     Mortgage-backed securities                        |   |   | 998       |   |   |   | 993 |   |
|     Investment securities - tax exempt                |   |   | 303       |   |   |   | 267 |   |
|     Interest bearing deposits and federal funds sold  |   |   | 12        |   |   |   | 3 |   |
| Total interest income                                                     |   |   | 5,999     |   |   |   | 5,897 |   |
|                                                                      |   |   |      |   |   |   |   |   |
| Interest expense:                                                         |   |   |      |   |   |   |   |   |
|     Interest on deposits                              |   |   | 962       |   |   |   | 1,130 |   |
|     Interest on borrowings                            |   |   | 117       |   |   |   | 153 |   |
| Total interest expense                                                    |   |   | 1,079     |   |   |   | 1,283 |   |
|                                                                      |   |   |      |   |   |   |   |   |
| Net interest income                                                       |   |   | 4,920     |   |   |   | 4,614 |   |
| Provision for loan losses                                                 |   |   | 343       |   |   |   | 307 |   |
| Net interest income after provision for loan losses                       |   |   | 4,577     |   |   |   | 4,307 |   |
|                                                                      |   |   |      |   |   |   |   |   |
| Non-interest income:                                                      |   |   |      |   |   |   |   |   |
|     Service charges on deposit accounts               |   |   | 560       |   |   |   | 599 |   |
|     Debit card fees                                   |   |   | 306       |   |   |   | 257 |   |
|     Investment services                               |   |   | 51        |   |   |   | 73 |   |
|     E-commerce fees                                   |   |   | 28        |   |   |   | 25 |   |
|     Net gain on sale of available-for-sale securities |   |   | 21        |   |   |   | --- |   |
|     Other operating income                            |   |   | 136       |   |   |   | 132 |   |
| Total non-interest income                                                 |   |   | 1,102     |   |   |   | 1,086 |   |
|                                                                      |   |   |      |   |   |   |   |   |
| Non-interest expense:                                                     |   |   |      |   |   |   |   |   |
|     Salaries and employee benefits                    |   |   | 2,054     |   |   |   | 1,792 |   |
|     Occupancy expense                                 |   |   | 362       |   |   |   | 333 |   |
|     Equipment and furniture expense                   |   |   | 121       |   |   |   | 189 |   |
|     Service and data processing fees                  |   |   | 413       |   |   |   | 343 |   |
|     Computer software, supplies and support           |   |   | 72        |   |   |   | 79 |   |
|     Advertising and promotion                         |   |   | 55        |   |   |   | 77 |   |
|     FDIC insurance premiums                           |   |   | 187       |   |   |   | 151 |   |
|     Legal and professional fees                       |   |   | 92        |   |   |   | 130 |   |
|     Other                                             |   |   | 460       |   |   |   | 437 |   |
| Total non-interest expense                                                |   |   | 3,816     |   |   |   | 3,531 |   |
|                                                                      |   |   |      |   |   |   |   |   |
| Income before provision for income taxes                                  |   |   | 1,863     |   |   |   | 1,862 |   |
| Provision for income taxes                                                |   |   | 624       |   |   |   | 636 |   |
| Net income                                                                |   | $      | 1,239     |   |   | $      | 1,226 |   |
|                                                                      |   |   |      |   |   |   |   |   |
| Basic EPS                                                                 |   | $      | 0.30      |   |   | $      | 0.30 |   |
| Basic average shares outstanding                                          |   |   | 4,142,160 |   |   |   | 4,116,779 |   |
| Diluted EPS                                                               |   | $      | 0.30      |   |   | $      | 0.30 |   |
| Diluted average shares outstanding                                        |   |   | 4,172,127 |   |   |   | 4,137,447 |   |
| Dividends per share                                                       |   | $      | 0.175     |   |   | $      | 0.17 |   |

Greene County Bancorp, Inc.

|                                                                        | 2011   |   | 2010   |
|-----------------------------------------------------------------------------|--------|--------|--------|
| Net income                                                                  | $3,915 |   | $3,626 |
|                                                                        |   |   |   |
| Other comprehensive (loss) income:                                          |   |   |   |
| Securities:                                                                 |   |   |   |
| Unrealized holding (losses) gains on available for sale securities, arising |   |   |   |
|   during the nine months ended March 31, 2011 and 2010,           |   |   |   |
|   net of income taxes of ($469) and $173, respectively.           | (742)  |   | 274    |
|                                                                        |   |   |   |
| Accretion of unrealized loss on securities transferred to held-to-maturity, |   |   |   |
|   net of income taxes of $21 and $31, respectively                | 34     |   | 50     |
|                                                                        |   |   |   |
| Reclassification adjustment for (gain) loss on sale of available-for-sale   |   |   |   |
|   securities realized in net income, net of income taxes          |   |   |   |
|   of ($90), and $2, respectively                                  | (143)  |   | 3      |
|                                                                        |   |   |   |
| Pension actuarial gain, net of tax                                          | 7      |   | ---    |
|                                                                        |   |   |   |
| Other comprehensive (loss) income                                           | (844)  |   | 327    |
|                                                                        |   |   |   |
| Comprehensive income                                                        | $3,071 |   | $3,953 |
|                                                                        |   |   |   |

|                                                                        | 2011   |   | 2010   |
|-----------------------------------------------------------------------------|--------|--------|--------|
| Net income                                                                  | $1,239 |   | $1,226 |
|                                                                        |   |   |   |
| Other comprehensive loss:                                                   |   |   |   |
| Securities:                                                                 |   |   |   |
| Unrealized holding losses on available for sale securities, arising         |   |   |   |
|   during the three months ended March 31, 2011 and 2010,          |   |   |   |
|   net of income taxes of ($172) and ($75), respectively.          | (272)  |   | (119)  |
|                                                                        |   |   |   |
| Accretion of unrealized loss on securities transferred to held-to-maturity, |   |   |   |
|   net of income taxes of $7 and $13, respectively                 | 11     |   | 21     |
|                                                                        |   |   |   |
| Reclassification adjustment for (gain) loss on sale of available-for-sale   |   |   |   |
|   securities realized in net income, net of income taxes          |   |   |   |
|   of ($8), and $0, respectively                                   | (13)   |   | ---    |
|                                                                        |   |   |   |
| Pension actuarial gain, net of tax                                          | 2      |   | ---    |
| Other comprehensive loss                                                    | (272)  |   | (98)   |
|                                                                        |   |   |   |
| Comprehensive income                                                        | $967   |   | $1,128 |

----

Greene County Bancorp, Inc.

|                                           |                         |                                                                                 |                                                                                   | Accumulated                                                                           |                                                                                                                                           |                                                                                                                                     |
|------------------------------------------------|------------------------------|--------------------------------------------------------------------------------------|----------------------------------------------------------------------------------------|---------------------------------------------------------------------------------------|------------------------------------------------------------------------------------------------------------------------------------------------|------------------------------------------------------------------------------------------------------------------------------------------|
|                                           |                         | Additional                                                                           |                                                                                   | Other                                                                                 |                                                                                                                                           | Total                                                                                                                                    |
|                                           | Common                       | Paid – In                                                                      | Retained                                                                               | Comprehensive                                                                         | Treasury                                                                                                                                       | Shareholders’                                                                                                                      |
|                                           | Stock                        | Capital                                                                              | Earnings                                                                               | Income                                                                                | Stock                                                                                                                                          | Equity                                                                                                                                   |
|                                           |                         |                                                                                 |                                                                                   |                                                                                  |                                                                                                                                           |                                                                                                                                     |
| Balance at                                     |                         |                                                                                 |                                                                                   |                                                                                  |                                                                                                                                           |                                                                                                                                     |
| June 30, 2009                                  | $431     |      $10,508                                 |           $30,045     |           $792       |               ($1,512)                                    |           $40,264                                                       |
|                                           |                         |                                                                                 |                                                                                   |                                                                                  |                                                                                                                                           |                                                                                                                                     |
| Stock options exercised                        |                         |            (66)     |                                                                                   |                                                                                  |                     103     |                    37      |
|                                           |                         |                                                                       |                                                                                   |                                                                                  |                                                                                                                                           |                                                                                                                                     |
| Stock options compensation                     |                         |            168      |                                                                                   |                                                                                  |                                                                                                                                           |                  168                 |
|                                           |                         |                                                                                 |                                                                                   |                                                                                  |                                                                                                                                           |                                                                                                                                     |
| Dividends declared                             |                         |                                                                                 |           (921)       |                                                                                  |                                                                                                                                           |                   (921)         |
|                                           |                         |                                                                                 |                                                                                   |                                                                                  |                                                                                                                                           |                                                                                                                                     |
| Net income                                     |                         |                                                                                 |           3,626       |                                                                                  |                                                                                                                                           |                3,626                      |
|                                           |                         |                                                                                 |                                                                                   |                                                                                  |                                                                                                                                           |                                                                                                                                     |
| Total other comprehensive income, net of taxes |                         |                                                                                 |                                                                                   |           327        |                                                                                                                                           |                    327     |
| Balance at                                     |                         |                                                                                 |                                                                                   |                                                                                  |                                                                                                                                           |                                                                                                                                     |
| March 31, 2010                                 | $431     |      $10,610                                 |           $32,750     |           $1,119     |              ($1,409)                                          |              $43,501                                |

| June 30, 2010                                  | $431   |      $10,666                                          |           $33,692       |           $1,123   |                ($1,409)                           | $44,503     |
|------------------------------------------------|------------------|------------------------------------------------------------------------------------------|--------------------------------------------------------------------------------|---------------------------------------------------------------------------|------------------------------------------------------------------------------------------------------------------------------|---------------------------------|
|                                           |             |                                                                                     |                                                                           |                                                                      |                                                                                                                         |                            |
| Stock options exercised                        |             |            109               |                                                                           |                                                                      |                     203  | 312         |
|                                           |             |                                                                                     |                                                                           |                                                                      |                                                                                                                         |                            |
| Tax effect of stock options                    |             |               3    |                                                                           |                                                                      |                                                                                                                         | 3           |
|                                           |             |                                                                                |                                                                           |                                                                      |                                                                                                                         |                            |
| Stock options compensation                     |             |           167                     |                                                                           |                                                                      |                                                                                                                         | 167         |
|                                           |             |                                                                                     |                                                                           |                                                                      |                                                                                                                         |                            |
| Dividends declared                             |             |                                                                                     |           (1,325)       |                                                                      |                                                                                                                         | (1,325)     |
|                                           |             |                                                                                     |                                                                           |                                                                      |                                                                                                                         |                            |
| Net income                                     |             |                                                                                     |            3,915   |                                                                      |                                                                                                                         | 3,915       |
|                                           |             |                                                                                     |                                                                           |                                                                      |                                                                                                                         |                            |
| Total other comprehensive (loss), net of taxes |             |                                                                                     |                                                                           |           (844)    |                                                                                                                         | (844)       |
| Balance at                                     |             |                                                                                     |                                                                           |                                                                      |                                                                                                                         |                            |
| March 31, 2011                                 | $431   |      $10,945                                          |           $36,282       |           $279     |                  ($1,206)               | $46,731     |
|                                           |             |                                                                                     |                                                                           |                                                                      |                                                                                                                         |                            |

----

Greene County Bancorp, Inc.

|                                                                               (In thousands) |   | 2011   |    |   | 2010   |   |
|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|--------|---------|--------|--------|--------|
| Cash flows from operating activities:                                                                                                                                                                                                                                                                                                                                                                                                                                                         |   |   |    |   |   |   |
| Net Income                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |   | $      | 3,915   |   |   | $      | 3,626 |   |
| Adjustments to reconcile net income to net cash provided by operating activities:                                                                                                                                                                                                                                                                                                                                                                                                             |   |   |    |   |   |   |   |   |
|      Depreciation                                                                                                                                                                                                                                                                                                                                                                                                                                                    |   |   | 536     |   |   |   | 700 |   |
|      Net amortization of premiums and discounts                                                                                                                                                                                                                                                                                                                                                                                                                      |   |   | 767     |   |   |   | 616 |   |
|      Net amortization of deferred loan costs and fees                                                                                                                                                                                                                                                                                                                                                                                                                |   |   | 175     |   |   |   | 135 |   |
|      Provision for loan losses                                                                                                                                                                                                                                                                                                                                                                                                                                       |   |   | 1,179   |   |   |   | 984 |   |
|      Stock option compensation                                                                                                                                                                                                                                                                                                                                                                                                                                       |   |   | 167     |   |   |   | 168 |   |
|      Net (gain) loss on sale of available-for-sale securities                                                                                                                                                                                                                                                                                                                                                                                                        |   |   | (233    | )      |   |   | 5 |   |
|      Net loss on sale of foreclosed real estate                                                                                                                                                                                                                                                                                                                                                                                                                      |   |   | ---     |   |   |   | 8 |   |
|      Net (decrease) increase in accrued income taxes                                                                                                                                                                                                                                                                                                                                                                                                                 |   |   | (432    | )      |   |   | 1,007 |   |
|      Net increase in accrued interest receivable                                                                                                                                                                                                                                                                                                                                                                                                                     |   |   | (97     | )      |   |   | (285 | ) |
|      Net decrease (increase) decrease in prepaid and other assets                                                                                                                                                                                                                                                                                                                                                                                                    |   |   | 320     |   |   |   | (1,863 | ) |
|      Net increase (decrease) in other liabilities                                                                                                                                                                                                                                                                                                                                                                                                                    |   |   | 421     |   |   |   | (646 | ) |
|           Net cash provided by operating activities                                                                                                                                                                                                                                                                                                                                                                                         |   |   | 6,718   |   |   |   | 4,455 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |   |   |    |   |   |   |   |   |
| Cash flows from investing activities:                                                                                                                                                                                                                                                                                                                                                                                                                                                         |   |   |    |   |   |   |   |   |
|    Securities available-for-sale:                                                                                                                                                                                                                                                                                                                                                                                                                                              |   |   |    |   |   |   |   |   |
|      Proceeds from maturities                                                                                                                                                                                                                                                                                                                                                                                                                                        |   |   | 7,411   |   |   |   | 7,000 |   |
|      Proceeds from sale of securities                                                                                                                                                                                                                                                                                                                                                                                                                                |   |   | 7,729   |   |   |   | 1,820 |   |
|      Purchases of securities                                                                                                                                                                                                                                                                                                                                                                                                                                         |   |   | (30,308 | )      |   |   | (1,069 | ) |
|      Principal payments on securities                                                                                                                                                                                                                                                                                                                                                                                                                                |   |   | 8,497   |   |   |   | 7,272 |   |
|    Securities held-to-maturity:                                                                                                                                                                                                                                                                                                                                                                                                                                                |   |   |    |   |   |   |   |   |
|      Proceeds from maturities                                                                                                                                                                                                                                                                                                                                                                                                                                        |   |   | 13,827  |   |   |   | 7,327 |   |
|      Purchases of securities                                                                                                                                                                                                                                                                                                                                                                                                                                         |   |   | (58,412 | )      |   |   | (9,403 | ) |
|      Principal payments on securities                                                                                                                                                                                                                                                                                                                                                                                                                                |   |   | 4,086   |   |   |   | 4,523 |   |
|    Net redemption of Federal Home Loan Bank Stock                                                                                                                                                                                                                                                                                                                                                                                                                              |   |   | 634     |   |   |   | 90 |   |
|    Maturity of long term certificate of deposit                                                                                                                                                                                                                                                                                                                                                                                                                                |   |   | 1,000   |   |   |   | --- |   |
|    Net increase in loans receivable                                                                                                                                                                                                                                                                                                                                                                                                                                            |   |   | (2,986  | )      |   |   | (21,253 | ) |
|    Proceeds from sale of foreclosed real estate                                                                                                                                                                                                                                                                                                                                                                                                                                |   |   | ---     |   |   |   | 207 |   |
|    Purchases of premises and equipment                                                                                                                                                                                                                                                                                                                                                                                                                                         |   |   | (1,247  | )      |   |   | (358 | ) |
|           Net cash used in investing activities                                                                                                                                                                                                                                                                                                                                                                                             |   |   | (49,769 | )      |   |   | (3,844 | ) |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |   |   |    |   |   |   |   |   |
| Cash flows from financing activities:                                                                                                                                                                                                                                                                                                                                                                                                                                                         |   |   |    |   |   |   |   |   |
|    Net decrease in short-term borrowings                                                                                                                                                                                                                                                                                                                                                                                                                                       |   |   | (9,100  | )      |   |   | (2,000 | ) |
|    Repayment of long-term borrowings                                                                                                                                                                                                                                                                                                                                                                                                                                           |   |   | (5,000  | )      |   |   | --- |   |
|    Payment of cash dividends                                                                                                                                                                                                                                                                                                                                                                                                                                                   |   |   | (1,325  | )      |   |   | (921 | ) |
|    Proceeds from stock options exercised                                                                                                                                                                                                                                                                                                                                                                                                                                       |   |   | 312     |   |   |   | 37 |   |
|    Net increase in deposits                                                                                                                                                                                                                                                                                                                                                                                                                                                    |   |   | 77,117  |   |   |   | 17,198 |   |
|           Net cash provided by financing activities                                                                                                                                                                                                                                                                                                                                                                                         |   |   | 62,004  |   |   |   | 14,314 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |   |   |    |   |   |   |   |   |
| Net increase in cash and cash equivalents                                                                                                                                                                                                                                                                                                                                                                                                                                                     |   |   | 18,953  |   |   |   | 14,925 |   |
| Cash and cash equivalents at beginning of period                                                                                                                                                                                                                                                                                                                                                                                                                                              |   |   | 9,643   |   |   |   | 9,443 |   |
| Cash and cash equivalents at end of period                                                                                                                                                                                                                                                                                                                                                                                                                                                    |   | $      | 28,596  |   |   | $      | 24,368 |   |
| Non-cash investing activities:                                                                                                                                                                                                                                                                                                                                                                                                                                                                |   |   |    |   |   |   |   |   |
|    Foreclosed loans transferred to foreclosed real estate                                                                                                                                                                                                                                                                                                                                                                                                                      |   | $      | 563     |   |   | $      | 65 |   |
| Cash paid during the period:                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |   |   |    |   |   |   |   |   |
|    Interest                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |   | $      | 3,434   |   |   | $      | 4,082 |   |
|    Income taxes                                                                                                                                                                                                                                                                                                                                                                                                                                                                |   |   | 2,453   |   |   |   | 943 |   |

----

Notes to Consolidated Financial Statements

----

|                                                |   |      |    |   | Gross      |   |   | Gross      |   |   | Estimated |   |
|-----------------------------------------------------|--------|-----------|---------|--------|------------|--------|--------|------------|--------|--------|-----------|--------|
|                                                |   | Amortized |    |   | Unrealized |   |   | Unrealized |   |   | Fair      |   |
|                                                |   | Cost      |    |   | Gains      |   |   | Losses     |   |   | Value     |   |
| (In thousands)                                      |   |      |    |   |       |   |   |       |   |   |      |   |
| Securities available-for-sale:                      |   |      |    |   |       |   |   |       |   |   |      |   |
|   U.S. government sponsored enterprises   |   | $         | 28,441  |   |       | $      | 105    |       |   | $      | 771       |   |   | $ | 27,775 |   |
|   State and political subdivisions        |   |      | 6,820   |   |       |   | 246    |       |   |   | ---       |   |   |   | 7,066 |   |
|   Mortgage-backed securities-residential  |   |      | 29,338  |   |       |   | 800    |       |   |   | 174       |   |   |   | 29,964 |   |
|   Mortgage-backed securities-multi-family |   |      | 21,798  |   |       |   | 991    |       |   |   | ---       |   |   |   | 22,789 |   |
|   Asset-backed securities                 |   |      | 27      |   |       |   | ---    |       |   |   | 1         |   |   |   | 26 |   |
|   Corporate debt securities               |   |      | 6,887   |   |       |   | 322    |       |   |   | ---       |   |   |   | 7,209 |   |
| Total debt securities                               |   |      | 93,311  |   |       |   | 2,464  |       |   |   | 946       |   |   |   | 94,829 |   |
|   Equity securities and other             |   |      | 68      |   |       |   | 41     |       |   |   | ---       |   |   |   | 109 |   |
| Total securities available-for-sale                 |   |      | 93,379  |   |       |   | 2,505  |       |   |   | 946       |   |   |   | 94,938 |   |
| Securities held-to-maturity:                        |   |      |    |   |       |   |   |       |   |   |      |   |   |   |   |   |
|   U.S. treasury securities                |   |      | 11,070  |   |       |   | ---    |       |   |   | 20        |   |   |   | 11,050 |   |
|   U.S. government sponsored enterprises   |   |      | 4,997   |   |       |   | 23     |       |   |   | ---       |   |   |   | 5,020 |   |
|   State and political subdivisions        |   |      | 35,522  |   |       |   | 74     |       |   |   | 24        |   |   |   | 35,572 |   |
|   Mortgage-backed securities-residential  |   |      | 58,801  |   |       |   | 1,428  |       |   |   | 95        |   |   |   | 60,134 |   |
|   Mortgage-backed securities-multi-family |   |      | 6,826   |   |       |   | 26     |       |   |   | 4         |   |   |   | 6,848 |   |
|   Other securities                        |   |      | 418     |   |       |   | ---    |       |   |   | ---       |   |   |   | 418 |   |
| Total securities held-to-maturity                   |   |      | 117,634 |   |       |   | 1,551  |       |   |   | 143       |   |   |   | 119,042 |   |
| Total securities                                    |   | $         | 211,013 |   |       | $      | 4,056  |       |   | $      | 1,089     |   |   | $ | 213,980 |   |

|                                                |   |      |    |   | Gross      |   |   | Gross      |   |   | Estimated |   |
|-----------------------------------------------------|--------|-----------|---------|--------|------------|--------|--------|------------|--------|--------|-----------|--------|
|                                                |   | Amortized |    |   | Unrealized |   |   | Unrealized |   |   | Fair      |   |
|                                                |   | Cost      |    |   | Gains      |   |   | Losses     |   |   | Value     |   |
| (In thousands)                                      |   |      |    |   |       |   |   |       |   |   |      |   |
| Securities available-for-sale:                      |   |      |    |   |       |   |   |       |   |   |      |   |
|   U.S. government sponsored enterprises   |   | $         | 21,942  |   |       | $      | 234    |       |   | $      | ---       |   |   | $ | 22,176 |   |
|   State and political subdivisions        |   |      | 8,392   |   |       |   | 357    |       |   |   | ---       |   |   |   | 8,749 |   |
|   Mortgage-backed securities-residential  |   |      | 24,838  |   |       |   | 1,045  |       |   |   | ---       |   |   |   | 25,883 |   |
|   Mortgage-backed securities-multi-family |   |      | 24,623  |   |       |   | 1,309  |       |   |   | ---       |   |   |   | 25,932 |   |
|   Asset-backed securities                 |   |      | 33      |   |       |   | ---    |       |   |   | 1         |   |   |   | 32 |   |
|   Corporate debt securities               |   |      | 6,907   |   |       |   | 97     |       |   |   | 73        |   |   |   | 6,931 |   |
| Total debt securities                               |   |      | 86,735  |   |       |   | 3,042  |       |   |   | 74        |   |   |   | 89,703 |   |
|   Equity securities and other             |   |      | 67      |   |       |   | 35     |       |   |   | ---       |   |   |   | 102 |   |
| Total securities available-for-sale                 |   |      | 86,802  |   |       |   | 3,077  |       |   |   | 74        |   |   |   | 89,805 |   |
| Securities held-to-maturity:                        |   |      |    |   |       |   |   |       |   |   |      |   |   |   |   |   |
|   U.S. government sponsored enterprises   |   |      | 7,004   |   |       |   | 64     |       |   |   | ---       |   |   |   | 7,068 |   |
|   State and political subdivisions        |   |      | 29,821  |   |       |   | 25     |       |   |   | ---       |   |   |   | 29,846 |   |
|   Mortgage-backed securities-residential  |   |      | 36,277  |   |       |   | 1,362  |       |   |   | ---       |   |   |   | 37,639 |   |
|   Mortgage-backed securities-multi-family |   |      | 4,058   |   |       |   | 11     |       |   |   | ---       |   |   |   | 4,069 |   |
|   Other securities                        |   |      | 360     |   |       |   | ---    |       |   |   | ---       |   |   |   | 360 |   |
| Total securities held-to-maturity                   |   |      | 77,520  |   |       |   | 1,462  |       |   |   | ---       |   |   |   | 78,982 |   |
| Total securities                                    |   | $         | 164,322 |   |       | $      | 4,539  |       |   | $      | 74        |   |   | $ | 168,787 |   |

----

|                                                |   | Less Than 12 Months |   |   | More Than 12 Months |   |   | Total  |   |
|-----------------------------------------------------|--------|---------------------|--------|--------|---------------------|--------|--------|--------|--------|
|                                                |   | Fair                |   |   | Unrealized          |   |   | Fair   |   |   | Unrealized |   |   | Fair |   |   | Unrealized |   |
|                                                |   | Value               |   |   | Losses              |   |   | Value  |   |   | Losses |   |   | Value |   |   | Losses |   |
| (in thousands)                                      |   |                |   |   |                |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Securities available-for-sale:                      |   |                |   |   |                |   |   |   |   |   |   |   |   |   |   |   |   |   |
|   U.S. government sponsored enterprises   |   | $                   | 18,076 |   |                | $      | 771    |   |   | $ | --- |   |   | $ | --- |   |   | $ | 18,076 |   |   | $ | 771 |   |
|   Mortgage-backed securities-residential  |   |                | 6,788  |   |                |   | 174    |   |   |   | --- |   |   |   | --- |   |   |   | 6,788 |   |   |   | 174 |   |
|   Asset-backed securities                 |   |                | ---    |   |                |   | ---    |   |   |   | 26 |   |   |   | 1 |   |   |   | 26 |   |   |   | 1 |   |
| Total available-for-sale securities                 |   |                | 24,864 |   |                |   | 945    |   |   |   | 26 |   |   |   | 1 |   |   |   | 24,890 |   |   |   | 946 |   |
| Securities held-to-maturity:                        |   |                |   |   |                |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|   U.S. treasury securities                |   |                | 9,053  |   |                |   | 20     |   |   |   |   |   |   |   |   |   |   |   | 9,053 |   |   |   | 20 |   |
|   State and political subdivisions        |   |                | 2,674  |   |                |   | 24     |   |   |   | --- |   |   |   | --- |   |   |   | 2,674 |   |   |   | 24 |   |
|   Mortgage-backed securities-residential  |   |                | 13,698 |   |                |   | 95     |   |   |   | --- |   |   |   | --- |   |   |   | 13,698 |   |   |   | 95 |   |
|   Mortgage-backed securities-multi-family |   |                | 3,981  |   |                |   | 4      |   |   |   | --- |   |   |   | --- |   |   |   | 3,981 |   |   |   | 4 |   |
| Total held-to-maturity securities                   |   |                | 29,406 |   |                |   | 143    |   |   |   | --- |   |   |   | --- |   |   |   | 29,406 |   |   |   | 143 |   |
| Total securities                                    |   | $                   | 54,270 |   |                | $      | 1,088  |   |   | $ | 26 |   |   | $ | 1 |   |   | $ | 54,296 |   |   | $ | 1,089 |   |

|                                  |   | Less Than 12 Months |   |   | More Than 12 Months |   |   | Total  |   |
|---------------------------------------|--------|---------------------|--------|--------|---------------------|--------|--------|--------|--------|
|                                  |   | Fair                |   |   | Unrealized          |   |   | Fair   |   |   | Unrealized |   |   | Fair |   |   | Unrealized |   |
|                                  |   | Value               |   |   | Losses              |   |   | Value  |   |   | Losses |   |   | Value |   |   | Losses |   |
| (in thousands)                        |   |                |   |   |                |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Securities available-for-sale:        |   |                |   |   |                |   |   |   |   |   |   |   |   |   |   |   |   |   |
|   Asset-backed securities   |   | $                   | ---    |   |                | $      | ---    |   |   | $ | 32 |   |   | $ | 1 |   |   | $ | 32 |   |   | $ | 1 |   |
|   Corporate debt securities |   |                | ---    |   |                |   | ---    |   |   |   | 2,492 |   |   |   | 73 |   |   |   | 2,492 |   |   |   | 73 |   |
| Total securities                      |   | $                   | ---    |   |                | $      | ---    |   |   | $ | 2,524 |   |   | $ | 74 |   |   | $ | 2,524 |   |   | $ | 74 |   |

|                                   |   | Nine months ended March 31, |   |
|----------------------------------------|--------|-----------------------------|--------|
| (in thousands)                         |   | 2011                        |   |   | 2010 |   |
| Gross realized gains                   |   | $                           | 233    |   |   | $ | 32 |   |
| Gross realized losses                  |   |                        | ---    |   |   |   | (37 | ) |
| Other-than-temporary impairment losses |   |                        | ---    |   |   |   | --- |   |
| Net gains (losses) recognized          |   | $                           | 233    |   |   | $ | (5 | ) |

----

|                                                |   |                                                                         |   |   |             After         |   |   |            After      |   |   |                                                                                              |   |   |                                                                                                                |   |
|-----------------------------------------------------|--------|------------------------------------------------------------------------------|--------|--------|------------------------------------------------------------------------|--------|--------|--------------------------------------------------------------------|--------|--------|---------------------------------------------------------------------------------------------------|--------|--------|---------------------------------------------------------------------------------------------------------------------|--------|
|                                                |   |              In       |   |   |             One Year |   |   |            Five Years |   |   |                                                                                              |   |   |                                                                                                                |   |
|                                                |   |              One Year |   |   |             Through  |   |   |            Through    |   |   |                  After |   |   |                                                                                                                |   |
| (Dollars in thousands)                              |   |              Or Less  |   |   |             Five Years    |   |   |            Ten Years  |   |   |              Ten Years                |   |   |                     Total |   |
| Securities available-for-sale:                      |   |                                                                         |   |   |                                                                   |   |   |                                                               |   |   |                                                                                              |   |   |                                                                                                                |   |
|   U.S. Government sponsored enterprises   |   | $                                                                            | 1,006  |   |                                                                   | $      | 19,631 |                                                               |   | $      | 4,353                                                                                             |   |   | $                                                                                                                   | 2,785  |   |   | $ | 27,775 |   |
|   State and political subdivisions        |   |                                                                         | 443    |   |                                                                   |   | 6,274  |                                                               |   |   | 349                                                                                               |   |   |                                                                                                                | ---    |   |   |   | 7,066 |   |
|   Mortgage-backed securities-residential  |   |                                                                         | 357    |   |                                                                   |   | 1,866  |                                                               |   |   | 6,214                                                                                             |   |   |                                                                                                                | 21,527 |   |   |   | 29,964 |   |
|   Mortgage-backed securities-multi-family |   |                                                                         | ---    |   |                                                                   |   | 19,895 |                                                               |   |   | 2,894                                                                                             |   |   |                                                                                                                | ---    |   |   |   | 22,789 |   |
|   Asset-backed securities                 |   |                                                                         | ---    |   |                                                                   |   | ---    |                                                               |   |   | ---                                                                                               |   |   |                                                                                                                | 26     |   |   |   | 26 |   |
|   Corporate debt securities               |   |                                                                         | ---    |   |                                                                   |   | 2,920  |                                                               |   |   | 4,007                                                                                             |   |   |                                                                                                                | 282    |   |   |   | 7,209 |   |
| Total debt securities                               |   |                                                                         | 1,806  |   |                                                                   |   | 50,586 |                                                               |   |   | 17,817                                                                                            |   |   |                                                                                                                | 24,620 |   |   |   | 94,829 |   |
|   Equity securities                       |   |                                                                         | ---    |   |                                                                   |   | ---    |                                                               |   |   | ---                                                                                               |   |   |                                                                                                                | 109    |   |   |   | 109 |   |
| Total securities available-for-sale                 |   |                                                                         | 1,806  |   |                                                                   |   | 50,586 |                                                               |   |   | 17,817                                                                                            |   |   |                                                                                                                | 24,729 |   |   |   | 94,938 |   |
| Securities held-to-maturity:                        |   |                                                                         |   |   |                                                                   |   |   |                                                               |   |   |                                                                                              |   |   |                                                                                                                |   |   |   |   |   |   |
|   U.S. treasury securities                |   |                                                                         | ---    |   |                                                                   |   | 11,050 |                                                               |   |   | ---                                                                                               |   |   |                                                                                                                | ---    |   |   |   | 11,050 |   |
|   U.S. government sponsored enterprises   |   |                                                                         | ---    |   |                                                                   |   | 3,014  |                                                               |   |   | 2,006                                                                                             |   |   |                                                                                                                | ---    |   |   |   | 5,020 |   |
|   State and political subdivisions        |   |                                                                         | 8,788  |   |                                                                   |   | 15,581 |                                                               |   |   | 5,723                                                                                             |   |   |                                                                                                                | 5,480  |   |   |   | 35,572 |   |
|   Mortgage-backed securities-residential  |   |                                                                         | ---    |   |                                                                   |   | 2,613  |                                                               |   |   | 16,319                                                                                            |   |   |                                                                                                                | 41,202 |   |   |   | 60,134 |   |
|   Mortgage-backed securities-multi-family |   |                                                                         | ---    |   |                                                                   |   | 1,489  |                                                               |   |   | 5,359                                                                                             |   |   |                                                                                                                | ---    |   |   |   | 6,848 |   |
|   Other securities                        |   |                                                                         | 20     |   |                                                                   |   | 3      |                                                               |   |   | ---                                                                                               |   |   |                                                                                                                | 395    |   |   |   | 418 |   |
| Total securities held-to-maturity                   |   |                                                                         | 8,808  |   |                                                                   |   | 33,750 |                                                               |   |   | 29,407                                                                                            |   |   |                                                                                                                | 47,077 |   |   |   | 119,042 |   |
| Total securities                                    |   | $                                                                            | 10,614 |   |                                                                   | $      | 84,336 |                                                               |   | $      | 47,224                                                                                            |   |   | $                                                                                                                   | 71,806 |   |   | $ | 213,980 |   |

| (in thousands)                      |   | Performing |    |   | Watch  |   |   | Special Mention |   |   | Substandard |   |   | Total  |   |
|-------------------------------------|--------|------------|---------|--------|--------|--------|--------|-----------------|--------|--------|-------------|--------|--------|--------|--------|
| Residential mortgage                |   | $          | 174,824 |   |   | $      | 483    |            |   | $      | 95          |   |   | $      | 3,214  |   |   | $ | 178,616 |   |
| Commercial Real Estate              |   |       | 58,826  |   |   |   | 339    |            |   |   | 1,047       |   |   |   | 2,070  |   |   |   | 62,282 |   |
| Residential Construction & Land |   |       | 3,431   |   |   |   | ---    |            |   |   | ---         |   |   |   | 13     |   |   |   | 3,444 |   |
| Commercial Construction             |   |       | 1,666   |   |   |   | ---    |            |   |   | ---         |   |   |   | ---    |   |   |   | 1,666 |   |
| Multi-family                        |   |       | 5,792   |   |   |   | ---    |            |   |   | ---         |   |   |   | 581    |   |   |   | 6,373 |   |
| Home Equity                         |   |       | 25,392  |   |   |   | 117    |            |   |   | ---         |   |   |   | 311    |   |   |   | 25,820 |   |
| Commercial Business                 |   |       | 17,717  |   |   |   | 233    |            |   |   | 698         |   |   |   | 148    |   |   |   | 18,796 |   |
| Consumer Installment                |   |       | 4,029   |   |   |   | 4      |            |   |   | ---         |   |   |   | 41     |   |   |   | 4,074 |   |
| Total Gross Loans                   |   | $          | 291,677 |   |   | $      | 1,176  |            |   | $      | 1,840       |   |   | $      | 6,378  |   |   | $ | 301,071 |   |

| (in thousands)                      |   | Performing |    |   | Watch  |   |   | Special Mention |   |   | Substandard |   |   | Total  |   |
|-------------------------------------|--------|------------|---------|--------|--------|--------|--------|-----------------|--------|--------|-------------|--------|--------|--------|--------|
| Residential mortgage                |   | $          | 178,851 |   |   | $      | 1,591  |            |   | $      | 97          |   |   | $      | 1,986  |   |   | $ | 182,525 |   |
| Commercial Real Estate              |   |       | 50,343  |   |   |   | 740    |            |   |   | 2,408       |   |   |   | 1,095  |   |   |   | 54,586 |   |
| Residential Construction & Land |   |       | 6,688   |   |   |   | ---    |            |   |   | ---         |   |   |   | 13     |   |   |   | 6,701 |   |
| Commercial Construction             |   |       | 2,656   |   |   |   | ---    |            |   |   | ---         |   |   |   | ---    |   |   |   | 2,656 |   |
| Multi-family                        |   |       | 5,441   |   |   |   | ---    |            |   |   | ---         |   |   |   | 594    |   |   |   | 6,035 |   |
| Home Equity                         |   |       | 26,300  |   |   |   | 105    |            |   |   | ---         |   |   |   | 197    |   |   |   | 26,602 |   |
| Commercial Business                 |   |       | 14,253  |   |   |   | 717    |            |   |   | 837         |   |   |   | 3      |   |   |   | 15,810 |   |
| Consumer Installment                |   |       | 4,249   |   |   |   | 18     |            |   |   | ---         |   |   |   | 18     |   |   |   | 4,285 |   |
| Total Gross Loans                   |   | $          | 288,781 |   |   | $      | 3,171  |            |   | $      | 3,342       |   |   | $      | 3,906  |   |   | $ | 299,200 |   |

| (in thousands)                      |             30-59              days               past due |           60-89            days            past due |       More than      90 days       past due |         Total             past due |                   Current |                     Total                      Loans |       Loans           on             Non-accrual |
|-------------------------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|-------------------------------------------------------------------------------------------------------------------|--------------------------------------------------------------------------------------------------------------------|----------------------------------------------------------------------------------------------------------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| Residential mortgage                | $4,955                                                                                                                                                                                                                               | $1,225                                                                                                                                                                                     | $2,165                                                                                                            | $8,345                                                                                                             | $170,271                                                                                                       | $178,616                                                                                                                                                                                                                                                | $3,214                                                                                                                                                                   |
| Commercial Real Estate              | 2,306                                                                                                                                                                                                                                | 441                                                                                                                                                                                        | 1,498                                                                                                             | 4,245                                                                                                              | 58,037                                                                                                         | 62,282                                                                                                                                                                                                                                                  | 2,041                                                                                                                                                                    |
| Residential Construction & Land | 30                                                                                                                                                                                                                                   | ---                                                                                                                                                                                        | 13                                                                                                                | 43                                                                                                                 | 3,401                                                                                                          | 3,444                                                                                                                                                                                                                                                   | 13                                                                                                                                                                       |
| Commercial Construction             | ---                                                                                                                                                                                                                                  | ---                                                                                                                                                                                        | ---                                                                                                               | ---                                                                                                                | 1,666                                                                                                          | 1,666                                                                                                                                                                                                                                                   | ---                                                                                                                                                                      |
| Multi-family                        | 426                                                                                                                                                                                                                                  | ---                                                                                                                                                                                        | 155                                                                                                               | 581                                                                                                                | 5,792                                                                                                          | 6,373                                                                                                                                                                                                                                                   | 581                                                                                                                                                                      |
| Home Equity                         | 496                                                                                                                                                                                                                                  | 21                                                                                                                                                                                         | 195                                                                                                               | 712                                                                                                                | 25,108                                                                                                         | 25,820                                                                                                                                                                                                                                                  | 311                                                                                                                                                                      |
| Commercial Business                 | 1,011                                                                                                                                                                                                                                | ---                                                                                                                                                                                        | 83                                                                                                                | 1,094                                                                                                              | 17,702                                                                                                         | 18,796                                                                                                                                                                                                                                                  | 148                                                                                                                                                                      |
| Consumer Installment                | 83                                                                                                                                                                                                                                   | 22                                                                                                                                                                                         | 7                                                                                                                 | 112                                                                                                                | 3,962                                                                                                          | 4,074                                                                                                                                                                                                                                                   | 41                                                                                                                                                                       |
| Total Gross Loans                   | $9,307                                                                                                                                                                                                                               | $1,709                                                                                                                                                                                     | $4,116                                                                                                            | $15,132                                                                                                            | $285,939                                                                                                       | $301,071                                                                                                                                                                                                                                                | $6,349                                                                                                                                                                   |

| (in thousands)                      |                30-59                 days                past due |          60-89            days             past due |                 More than                   90 days                   past due |             Total               past due |                    Current |                  Total                   Loans |     Loans        on          Non-accrual |
|-------------------------------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------|----------------------------------------------------------------------------------------------------------------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|-------------------------------------------------------------------------------------------------------------------------------|
| Residential mortgage                | $1,058                                                                                                                                                                                                                                                                                   | $1,093                                                                                                                                                                                               | $2,001                                                                                                                                                                                                                                                                                                                                   | $4,152                                                                                                                                                      | $178,373                                                                                                             | $182,525                                                                                                                                                                                                            | $2,001                                                                                                                        |
| Commercial Real Estate              | 701                                                                                                                                                                                                                                                                                      | 377                                                                                                                                                                                                  | 1,095                                                                                                                                                                                                                                                                                                                                    | 2,173                                                                                                                                                       | 52,413                                                                                                               | 54,586                                                                                                                                                                                                              | 1,095                                                                                                                         |
| Residential Construction & Land | ---                                                                                                                                                                                                                                                                                      | ---                                                                                                                                                                                                  | 13                                                                                                                                                                                                                                                                                                                                       | 13                                                                                                                                                          | 6,688                                                                                                                | 6,701                                                                                                                                                                                                               | 13                                                                                                                            |
| Commercial Construction             | ---                                                                                                                                                                                                                                                                                      | ---                                                                                                                                                                                                  | ---                                                                                                                                                                                                                                                                                                                                      | ---                                                                                                                                                         | 2,656                                                                                                                | 2,656                                                                                                                                                                                                               | ---                                                                                                                           |
| Multi-family                        | ---                                                                                                                                                                                                                                                                                      | ---                                                                                                                                                                                                  | 594                                                                                                                                                                                                                                                                                                                                      | 594                                                                                                                                                         | 5,441                                                                                                                | 6,035                                                                                                                                                                                                               | 594                                                                                                                           |
| Home Equity                         | 17                                                                                                                                                                                                                                                                                       | 9                                                                                                                                                                                                    | 197                                                                                                                                                                                                                                                                                                                                      | 223                                                                                                                                                         | 26,379                                                                                                               | 26,602                                                                                                                                                                                                              | 197                                                                                                                           |
| Commercial Business                 | 28                                                                                                                                                                                                                                                                                       | 271                                                                                                                                                                                                  | 3                                                                                                                                                                                                                                                                                                                                        | 302                                                                                                                                                         | 15,508                                                                                                               | 15,810                                                                                                                                                                                                              | 3                                                                                                                             |
| Consumer Installment                | 147                                                                                                                                                                                                                                                                                      | 18                                                                                                                                                                                                   | 18                                                                                                                                                                                                                                                                                                                                       | 183                                                                                                                                                         | 4,102                                                                                                                | 4,285                                                                                                                                                                                                               | 18                                                                                                                            |
| Total Gross Loans                   | $1,951                                                                                                                                                                                                                                                                                   | $1,768                                                                                                                                                                                               | $3,921                                                                                                                                                                                                                                                                                                                                   | $7,640                                                                                                                                                      | $291,560                                                                                                             | $299,200                                                                                                                                                                                                            | $3,921                                                                                                                        |

|                                   |   | As of March 31, 2011 |   |   | For the nine months ended March 31, 2011 |   |
|----------------------------------------|--------|----------------------|--------|--------|------------------------------------------|--------|
| (in thousands)                         |   | Recorded Investment  |   |   | Unpaid Principal                         |   |   | Related Allowance |   |   | Average Recorded Investment |   |   | Interest Income Recognized |   |
| With no related allowance recorded:    |   |                 |   |   |                                     |   |   |   |   |   |   |   |   |   |   |
|    Residential mortgage |   | $                    | 212    |   |                                     | $      | 276 |   |   | $ | --- |   |   | $ | 394 |   |   | $ | 4 |   |
| With an allowance recorded:            |   |                 |   |   |                                     |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|   Commercial real estate     |   |                 | 373    |   |                                     |   | 373 |   |   |   | 93 |   |   |   | 374 |   |   |   | 6 |   |

|                                   |   | As of June 30, 2010 |   |   | For the nine months ended March 31, 2010 |   |
|----------------------------------------|--------|---------------------|--------|--------|------------------------------------------|--------|
| (in thousands)                         |   | Recorded Investment |   |   | Unpaid Principal                         |   |   | Related Allowance |   |   | Average Recorded Investment |   |   | Interest Income Recognized |   |
| With no related allowance recorded:    |   |                |   |   |                                     |   |   |   |   |   |   |   |   |   |   |
|    Residential mortgage |   | $                   | 212    |   |                                     | $      | 276 |   |   | $ | --- |   |   | $ | --- |   |   | $ | --- |   |
| With an allowance recorded:            |   |                |   |   |                                     |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|    Residential mortgage |   |                | ---    |   |                                     |   | --- |   |   |   | --- |   |   |   | 98 |   |   |   | 3 |   |

|                                |   |         Balance         June 30, 2010 |                  |   |            Charge-offs |   |                 |             Recoveries |   |   |               Provision |   |   |       Balance     March 31, 2011 |                        |
|-------------------------------------|--------|------------------------------------------------------------------------------------------------------------------|-----------------------|--------|-------------------------------------------------------------------------------|--------|----------------------|-------------------------------------------------------------------------------|--------|--------|------------------------------------------------------------------------------------------|--------|--------|---------------------------------------------------------------------|-----------------------------|
| Residential mortgage                |   | $                                                                                                                | 1,427                 |   |                                                                          | $      | 140                  |                                                                          |   | $      | ---                                                                                      |   |   | $                                                                   |   443                  |   |   | $ | 1,730 |   |
| Commercial Real Estate              |   |                                                                                                             | 1,517                 |   |                                                                          |   |   78            |                                                                          |   |   | ---                                                                                      |   |   |                                                                |   461                  |   |   |   | 1,900 |   |
| Residential Construction & Land |   |                                                                                                             |     48 |   |                                                                          |   |   ---           |                                                                          |   |   | ---                                                                                      |   |   |                                                                |     (23)          |   |   |   |     25 |   |
| Commercial Construction             |   |                                                                                                             |     49 |   |                                                                          |   |   ---           |                                                                          |   |   | ---                                                                                      |   |   |                                                                |     (18)          |   |   |   |     31 |   |
| Multi-family                        |   |                                                                                                             |   223            |   |                                                                          |   |   ---           |                                                                          |   |   | ---                                                                                      |   |   |                                                                |     18            |   |   |   |    241 |   |
| Home Equity                         |   |                                                                                                             |   205            |   |                                                                          |   |   ---           |                                                                          |   |   | ---                                                                                      |   |   |                                                                |       6 |   |   |   |    211 |   |
| Consumer Installment                |   |                                                                                                             |   120            |   |                                                                          |   |  185            |                                                                          |   |   | 77                                                                                       |   |   |                                                                |   188                  |   |   |   |    200 |   |
| Commercial Business                 |   |                                                                                                             |   435       |   |                                                                          |   |     9 |                                                                          |   |   |   8                                                                                 |   |   |                                                                |    104            |   |   |   |    538 |   |
| Total                               |   | $                                                                                                                | 4,024                 |   |                                                                          | $      | 412                  |                                                                          |   | $      | 85                                                                                       |   |   | $                                                                   | 1,179                       |   |   | $ | 4,876 |   |

|                                |  Allowance for Loan Loss                                                                                                                                                                                                                                | Loans Receivable                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |
|-------------------------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|                                | Ending Balance March 31, 2011 Impairment Analysis                                                                                                                                                                                                            | Ending Balance March 31, 2011 Impairment Analysis                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |   |
|                                |                     Individually                     Evaluated |                                                Collectively                                                 Evaluated | Individually Evaluated |                    Collectively                      Evaluated |   |
| Residential mortgage                | $---                                                                                                                                                                                                                                                         | $1,730                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 | $--- | $178,616 |   |
| Commercial Real Estate              | 93                                                                                                                                                                                                                                                           | 1,807                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  | 373 | 61,909 |   |
| Residential Construction & Land | ---                                                                                                                                                                                                                                                          | 25                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     | --- | 3,444 |   |
| Commercial Construction             | ---                                                                                                                                                                                                                                                          | 31                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     | --- | 1,666 |   |
| Multi-family                        | ---                                                                                                                                                                                                                                                          | 241                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    | --- | 6,373 |   |
| Home Equity                         | ---                                                                                                                                                                                                                                                          | 211                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    | --- | 25,820 |   |
| Consumer Installment                | ---                                                                                                                                                                                                                                                          | 200                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    | --- | 18,796 |   |
| Commercial Business                 | ---                                                                                                                                                                                                                                                          | 538                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    | --- | 4,074 |   |
| Total                               | $93                                                                                                                                                                                                                                                          | $4,783                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 | $373 | $300,698 |   |

|                                |   |          Balance          June 30, 2009 |                   |   |            Charge-offs |   |      |            Recoveries |   |   |              Provision |   |   |           Balance      March 31, 2010 |                 |
|-------------------------------------|--------|--------------------------------------------------------------------------------------------------------------------|------------------------|--------|--------------------------------------------------------------------------|--------|-----------|-------------------------------------------------------------------------|--------|--------|------------------------------------------------------------------------------------|--------|--------|-------------------------------------------------------------------------------------------------------------|----------------------|
| Residential mortgage                |   | $                                                                                                                  | 1,439                  |   |                                                                     | $      |   84 |                                                                    |   | $      | ---                                                                                |   |   | $                                                                                                           | 114                  |   |   | $ | 1,469 |   |
| Commercial Real Estate              |   |                                                                                                               | 1,226                  |   |                                                                     |   | 230       |                                                                    |   |   | ---                                                                                |   |   |                                                                                                        | 495                  |   |   |   | 1,491 |   |
| Residential Construction & Land |   |                                                                                                               |     44  |   |                                                                     |   | ---       |                                                                    |   |   | ---                                                                                |   |   |                                                                                                        |     1 |   |   |   |     45 |   |
| Commercial Construction             |   |                                                                                                               |     31  |   |                                                                     |   | ---       |                                                                    |   |   | ---                                                                                |   |   |                                                                                                        |     6 |   |   |   |     37 |   |
| Multi-family                        |   |                                                                                                               |     15  |   |                                                                     |   |   57 |                                                                    |   |   | ---                                                                                |   |   |                                                                                                        |   96            |   |   |   |     54 |   |
| Home Equity                         |   |                                                                                                               |     221 |   |                                                                     |   | ---       |                                                                    |   |   | ---                                                                                |   |   |                                                                                                        |   (16)          |   |   |   |   205 |   |
| Consumer Installment                |   |                                                                                                               |     133 |   |                                                                     |   | 207       |                                                                    |   |   |   86                                                                          |   |   |                                                                                                        | 124                  |   |   |   |   136 |   |
| Commercial Business                 |   |                                                                                                               |     311 |   |                                                                     |   |   65 |                                                                    |   |   |   18                                                                          |   |   |                                                                                                        | 164                  |   |   |   |   428 |   |
| Total                               |   | $                                                                                                                  | 3,420                  |   |                                                                     | $      | 643       |                                                                    |   | $      | 104                                                                                |   |   | $                                                                                                           | 984                  |   |   | $ | 3,865 |   |

|                                                |   |                                                                                                                                                                                                       |                                     |   | Fair Value Measurements Using                        |            |
|-----------------------------------------------------|--------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|------------------------------------------|--------|------------------------------------------------------|-----------------|
|                                                |   |                                 March 31,  |                                     |   | Quoted Prices In Active Markets For Identical Assets |            |   | Significant Other Observable Inputs |   |   |          Significant      Unobservable Inputs |   |
| (In thousands)                                      |   |                                                                                                                                                                                                       | 2011       |   |                                                 |  (Level 1) |   |   | (Level 2) |   |   | (Level 3) |   |
| Assets:                                             |   |                                                                                                                                                                                                       |                                     |   |                                                 |            |   |   |   |   |   |   |   |
|   U.S. Government sponsored enterprises   |   | $                                                                                                                                                                                                          | 27,775                                   |   |                                                 | $               | --- |   |   | $ | 27,775 |   |   | $ | --- |   |
|   State and political subdivisions        |   |                                                                                                                                                                                                       |   7,066                             |   |                                                 |            | --- |   |   |   |   7,066 |   |   |   | --- |   |
|   Mortgage-backed securities-residential  |   |                                                                                                                                                                                                       | 29,964                                   |   |                                                 |            | 21,238 |   |   |   |   8,726 |   |   |   | --- |   |
|   Mortgage-backed securities-multi-family |   |                                                                                                                                                                                                       | 22,789                                   |   |                                                 |            | 22,789 |   |   |   | --- |   |   |   | --- |   |
|   Asset-backed securities                 |   |                                                                                                                                                                                                       |        26  |   |                                                 |            |       26 |   |   |   | --- |   |   |   | --- |   |
|   Corporate debt securities               |   |                                                                                                                                                                                                       |   7,209                        |   |                                                 |            |  7,209 |   |   |   | --- |   |   |   | --- |   |
|   Equity securities                       |   |                                                                                                                                                                                                       |      109             |   |                                                 |            |      109 |   |   |   | --- |   |   |   | --- |   |
| Securities available-for-sale                       |   | $                                                                                                                                                                                                          | 94,938                                   |   |                                                 | $               | 51,371 |   |   | $ |   43,567 |   |   | $ | --- |   |

----

|                                                |                                                | Fair Value Measurements Using                                                |                                                              |
|-----------------------------------------------------|-----------------------------------------------------|------------------------------------------------------------------------------|-------------------------------------------------------------------|
|                                                | June                                                |     Quoted Prices In Active Markets For Identical Assets |     Significant Other Observable Inputs  |   Significant Unobservable Inputs  |
| (In thousands)                                      | 30, 2010                                            | (Level 1)                                                                    | (Level 2)                                                         | (Level 3) |
| Assets:                                             |                                                |                                                                         |                                                              |   |
|   U.S. Government sponsored enterprises   | $22,176                                             | $---                                                                         | $22,176                                                           | $--- |
|   State and political subdivisions        |     8,749                            | ---                                                                          |     8,749                                          | --- |
|   Mortgage-backed securities-residential  |   25,883                                       | 19,108                                                                       |      6,775                                    | --- |
|   Mortgage-backed securities-multi-family |   25,932                                       | 25,932                                                                       | ---                                                               | --- |
|   Asset-backed securities                 |          32 | 32                                                                           | ---                                                               | --- |
|   Corporate debt securities               |     6,931                       | 6,931                                                                        | ---                                                               | --- |
|   Equity securities                       |        102            | 102                                                                          | ---                                                               | --- |
| Securities available-for-sale                       | $89,805                                             | $52,105                                                                      |  $37,700                                                     | $--- |

| (in thousands)                    |   | March 31, 2011 |    |   | June 30, 2010 |   |
|-----------------------------------|--------|----------------|---------|--------|---------------|--------|
|                              |   | Carrying       |    |   | Fair          |   |   | Carrying |   |   | Fair |   |
|                              |   | Amount         |    |   | Value         |   |   | Amount |   |   | Value |   |
| Cash and cash equivalents         |   | $              | 28,596  |   |          | $      | 28,596 |   |   | $ | 9,643 |   |   | $ | 9,643 |   |
| Long term certificate of deposit  |   |           | ---     |   |          |   | --- |   |   |   | 1,000 |   |   |   | 1,000 |   |
| Securities available-for-sale     |   |           | 94,938  |   |          |   | 94,938 |   |   |   | 89,805 |   |   |   | 89,805 |   |
| Securities held-to-maturity       |   |           | 117,634 |   |          |   | 119,042 |   |   |   | 77,520 |   |   |   | 78,982 |   |
| Federal Home Loan Bank stock      |   |           | 1,232   |   |          |   | 1,232 |   |   |   | 1,866 |   |   |   | 1,866 |   |
| Net loans                         |   |           | 296,651 |   |          |   | 303,876 |   |   |   | 295,582 |   |   |   | 300,395 |   |
| Accrued interest receivable       |   |           | 2,828   |   |          |   | 2,828 |   |   |   | 2,731 |   |   |   | 2,731 |   |
| Deposits                          |   |           | 498,849 |   |          |   | 499,601 |   |   |   | 421,732 |   |   |   | 422,693 |   |
| Federal Home Loan Bank borrowings |   |           | 12,000  |   |          |   | 12,530 |   |   |   | 26,100 |   |   |   | 26,791 |   |
| Accrued interest payable          |   |           | 104     |   |          |   | 104 |   |   |   | 109 |   |   |   | 109 |   |

|                                               |   |       |      |   | Weighted Average Number |   |      |                                                                      |   |
|----------------------------------------------------|--------|------------|-----------|--------|-------------------------|--------|-----------|---------------------------------------------------------------------------|--------|
|                                               |   | Net Income |      |   | Of Shares Outstanding   |   |      |      Earnings per      Share |   |
| Nine months ended                                  |   |       |      |   |                    |   |      |                                                                      |   |
| March 31, 2011                                     |   | $          | 3,915,000 |   |                    |   |      |                                                                      |   |   |
|    Basic                            |   |       |      |   |                    |   | 4,131,052 |                                                                      |   | $ | 0.95 |   |
|    Effect of dilutive stock options |   |       |      |   |                    |   | 31,664    |                                                                      |   |   | (0.01 | ) |
|    Diluted                          |   |       |      |   |                    |   | 4,162,716 |                                                                      |   | $ | 0.94 |   |
|                                               |   |       |      |   |                    |   |      |                                                                      |   |   |   |   |
| Nine months ended                                  |   |       |      |   |                    |   |      |                                                                      |   |   |   |   |
| March 31, 2010                                     |   | $          | 3,626,000 |   |                    |   |      |                                                                      |   |   |   |   |
|    Basic                            |   |       |      |   |                    |   | 4,110,014 |                                                                      |   | $ | 0.88 |   |
|    Effect of dilutive stock options |   |       |      |   |                    |   | 24,986    |                                                                      |   |   | (0.00 | ) |
|    Diluted                          |   |       |      |   |                    |   | 4,135,000 |                                                                      |   | $ | 0.88 |   |

|                                               |   |       |      |   | Weighted Average Number |   |      |               |   |
|----------------------------------------------------|--------|------------|-----------|--------|-------------------------|--------|-----------|--------------------|--------|
|                                               |   | Net Income |      |   | Of Shares Outstanding   |   |      | Earnings per Share |   |
| Three months ended                                 |   |       |      |   |                    |   |      |               |   |
| March 31, 2011                                     |   | $          | 1,239,000 |   |                    |   |      |               |   |   |
|    Basic                            |   |       |      |   |                    |   | 4,142,160 |               |   | $ | 0.30 |   |
|    Effect of dilutive stock options |   |       |      |   |                    |   | 29,967    |               |   |   | (0.00 | ) |
|    Diluted                          |   |       |      |   |                    |   | 4,172,127 |               |   | $ | 0.30 |   |
|                                               |   |       |      |   |                    |   |      |               |   |   |   |   |
| Three months ended                                 |   |       |      |   |                    |   |      |               |   |   |   |   |
| March 31, 2010                                     |   | $          | 1,226,000 |   |                    |   |      |               |   |   |   |   |
|    Basic                            |   |       |      |   |                    |   | 4,116,779 |               |   | $ | 0.30 |   |
|    Effect of dilutive stock options |   |       |      |   |                    |   | 20,668    |               |   |   | (0.00 | ) |
|    Diluted                          |   |       |      |   |                    |   | 4,137,447 |               |   | $ | 0.30 |   |

|                                           |   | Three months ended March 31, |   |   | Nine months ended March 31, |   |
|------------------------------------------------|--------|------------------------------|--------|--------|-----------------------------|--------|
| (in thousands)                                 |   | 2011                         |   |   | 2010                        |   |   | 2011 |   |   | 2010 |   |
| Interest cost                                  |   | $                            | 51     |   |                        | $      | 50 |   |   | $ | 153 |   |   | $ | 152 |   |
| Expected return on plan assets                 |   |                         | (55    | )      |                        |   | (53 | ) |   |   | (165 | ) |   |   | (161 | ) |
| Amortization of net loss                       |   |                         | 7      |   |                        |   | 2 |   |   |   | 23 |   |   |   | 6 |   |
|   Net periodic pension cost (income) |   | $                            | 3      |   |                        | $      | (1 | ) |   | $ | 11 |   |   | $ | (3 | ) |

|                             |   | 2011   |    |   | 2010             |   |
|----------------------------------|--------|--------|---------|--------|------------------|--------|
|                             |   |   |    |   | Weighted Average |   |   |   |   |   | Weighted Average |   |
|                             |   |   |    |   | Exercise         |   |   |   |   |   | Exercise |   |
|                             |   |   |    |   | Price            |   |   |   |   |   | Price |   |
|                             |   | Shares |    |   | Per Share        |   |   | Shares |   |   | Per Share |   |
| Outstanding at beginning of year |   |   | 171,750 |   |             | $      | 12.36 |   |   |   | 196,660 |   |   | $ | 11.33 |   |
| Exercised                        |   |   | (26,916 | )      |             |   | 11.61 |   |   |   | (15,730 | ) |   | $ |  4.36 |   |
| Forfeited                        |   |   | ---     |   |             |   | --- |   |   |   | (9,180 | ) |   | $ |  3.94 |   |
| Outstanding at period end        |   |   | 144,834 |   |             | $      | 12.50 |   |   |   | 171,750 |   |   | $ | 12.36 |   |
| Exercisable at period end        |   |   | 90,338  |   |             | $      | 12.50 |   |   |   | 62,085 |   |   | $ | 12.11 |   |

| Options Outstanding and Exercisable |
|-------------------------------------|
|  Range of Exercise Prices      |  Number Outstanding | Weighted Average Remaining Contractual Life | Weighted Average Exercise Price |
| $12.50                              | 90,338 | 7.50 | $12.50 |

| (in thousands)                                                                         |   |                                                                                                                         |   |   |                                                                                                                        |   |
|----------------------------------------------------------------------------------------|--------|------------------------------------------------------------------------------------------------------------------------------|--------|--------|-----------------------------------------------------------------------------------------------------------------------------|--------|
|                                                                                   |   |           March 31,           2011 |   |   |           June 30,           2010 |   |
|   Unrealized gains on available-for-sale securities, net of tax              |   | $                                                                                                                            | 956    |   |                                                                                                                        | $      | 1,841 |   |
|   Unrealized loss on securities transferred to held-to-maturity, net of tax  |   |                                                                                                                         | (82    | )      |                                                                                                                        |   | (116 | ) |
|   Net losses and past service liability for defined benefit plan, net of tax |   |                                                                                                                         | (595   | )      |                                                                                                                        |   | (602 | ) |
| Accumulated other comprehensive income                                                 |   | $                                                                                                                            | 279    |   |                                                                                                                        | $      | 1,123 |   |
|                                                                                   |   |                                                                                                                         |   |   |                                                                                                                        |   |   |   |

Item 2.

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

| (b)   | general economic conditions, including unemployment rates and real estate values, |
|-----------------|-----------------------------------------------------------------------------------|

| (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. |
|-----------------|-----------------------------------------------------------------------------------|

|                                               |   | Carrying Value at |    |
|----------------------------------------------------|--------|-------------------|---------|
|                                               |   | March 31, 2011    |    |   | June 30, 2010 |   |
| (Dollars in thousands)                             |   | Balance           |    |   | Percentageof Portfolio |   |   | Balance |   |   | Percentageof Portfolio |   |
|                                               |
| Securities available-for-sale:                     |   |              |    |   |   |   |   |   |   |   |   |   |
|   U.S. government sponsored enterprises  |   | $                 | 27,775  |   |   |   | 13.1 | % |   | $ | 22,176 |   |   |   | 13.3 | % |
|   State and political subdivisions       |   |              | 7,066   |   |   |   | 3.3 |   |   |   | 8,749 |   |   |   | 5.2 |   |
|   Mortgage-backed securities-residential |   |              | 29,964  |   |   |   | 14.1 |   |   |   | 25,883 |   |   |   | 15.5 |   |
|   Mortgage-backed securities-multifamily |   |              | 22,789  |   |   |   | 10.7 |   |   |   | 25,932 |   |   |   | 15.5 |   |
|   Asset-backed securities                |   |              | 26      |   |   |   | 0.0 |   |   |   | 32 |   |   |   | 0.0 |   |
|   Corporate debt securities              |   |              | 7,209   |   |   |   | 3.4 |   |   |   | 6,931 |   |   |   | 4.1 |   |
| Total debt securities                              |   |              | 94,829  |   |   |   | 44.6 |   |   |   | 89,703 |   |   |   | 53.6 |   |
|   Equity securities and other            |   |              | 109     |   |   |   | 0.1 |   |   |   | 102 |   |   |   | 0.1 |   |
| Total securities available-for-sale                |   |              | 94,938  |   |   |   | 44.7 |   |   |   | 89,805 |   |   |   | 53.7 |   |
| Securities held-to-maturity:                       |   |              |    |   |   |   |   |   |   |   |   |   |   |   |   |   |
|   U.S. treasury securities               |   |              | 11,070  |   |   |   | 5.2 |   |   |   | --- |   |   |   | --- |   |
|   U.S. government sponsored enterprises  |   |              | 4,997   |   |   |   | 2.3 |   |   |   | 7,004 |   |   |   | 4.2 |   |
|   State and political subdivisions       |   |              | 35,522  |   |   |   | 16.7 |   |   |   | 29,821 |   |   |   | 17.8 |   |
|   Mortgage-backed securities-residential |   |              | 58,801  |   |   |   | 27.7 |   |   |   | 36,277 |   |   |   | 21.7 |   |
|   Mortgage-backed securities-multifamily |   |              | 6,826   |   |   |   | 3.2 |   |   |   | 4,058 |   |   |   | 2.4 |   |
|   Other securities                       |   |              | 418     |   |   |   | 0.2 |   |   |   | 360 |   |   |   | 0.2 |   |
| Total securities held-to-maturity                  |   |              | 117,634 |   |   |   | 55.3 |   |   |   | 77,520 |   |   |   | 46.3 |   |
| Total securities                                   |   | $                 | 212,572 |   |   |   | 100.0 | % |   | $ | 167,325 |   |   |   | 100.0 | % |

----

|                                     |   |           |    |
|------------------------------------------|--------|----------------|---------|
|                                     |   | March 31, 2011 |    |   | June 30, 2010 |   |
| (Dollars in  thousands)        |   | Balance        |    |   | Percentageof Portfolio |   |   | Balance |   |   | Percentageof Portfolio |   |
|                                     |   |           |    |   |   |   |   |   |   |   |   |   |
| Real estate mortgages:                   |   |           |    |   |   |   |   |   |   |   |   |   |
|    Residential            |   | $              | 178,616 |   |   |   | 59.3 | % |   | $ | 182,525 |   |   |   | 61.0 | % |
|    Commercial             |   |           | 62,282  |   |   |   | 20.7 |   |   |   | 54,586 |   |   |   | 18.3 |   |
|    Construction and land  |   |           | 5,110   |   |   |   | 1.7 |   |   |   | 9,357 |   |   |   | 3.1 |   |
|    Multifamily            |   |           | 6,373   |   |   |   | 2.1 |   |   |   | 6,035 |   |   |   | 2.0 |   |
| Total real estate mortgages              |   |           | 252,381 |   |   |   | 83.8 |   |   |   | 252,503 |   |   |   | 84.4 |   |
| Home equity loans                        |   |           | 25,820  |   |   |   | 8.6 |   |   |   | 26,602 |   |   |   | 8.9 |   |
| Commercial loans                         |   |           | 18,796  |   |   |   | 6.3 |   |   |   | 15,810 |   |   |   | 5.3 |   |
| Installment loans                        |   |           | 4,074   |   |   |   | 1.3 |   |   |   | 4,285 |   |   |   | 1.4 |   |
| Total gross loans                        |   |           | 301,071 |   |   |   | 100.0 | % |   |   | 299,200 |   |   |   | 100.0 | % |
| Unearned origination fees and costs, net |   |           | 456     |   |   |   |   |   |   |   | 406 |   |   |   |   |   |
| Allowance for loan losses                |   |           | (4,876  | ) |   |   |   |   |   |   | (4,024 | ) |   |   |   |   |
| Total net loans                          |   | $              | 296,651 |   |   |   |   |   |   | $ | 295,582 |   |   |   |   |   |

----

| (Dollars in thousands)                                           |   | Nine months ended |   |
|------------------------------------------------------------------|--------|-------------------|--------|
|                                                             |   | March 31, 2011    |   |   | March 31, 2010 |   |
|                                                             |   |              |   |   |   |   |
| Balance at the beginning of the period                           |   | $                 | 4,024  |   |   | $ | 3,420 |   |
| Charge-offs:                                                     |   |              |   |   |   |   |   |   |
|      Real estate mortgages:             |   |              |   |   |   |   |   |   |
|         Residential      |   |              | 140    |   |   |   | 84 |   |
|         Commercial       |   |              | 78     |   |   |   | 230 |   |
|         Multifamily      |   |              | ---    |   |   |   | 57 |   |
|      Commercial loans                   |   |              | 9      |   |   |   | 65 |   |
|      Installment loans                  |   |              | 185    |   |   |   | 207 |   |
| Total loans charged off                                          |   |              | 412    |   |   |   | 643 |   |
|                                                             |   |              |   |   |   |   |   |   |
| Recoveries:                                                      |   |              |   |   |   |   |   |   |
|      Real estate mortgages:             |   |              |   |   |   |   |   |   |
|         Residential      |   |              | ---    |   |   |   | --- |   |
|      Commercial loans                   |   |              | 8      |   |   |   | 18 |   |
|      Installment loans                  |   |              | 77     |   |   |   | 86 |   |
| Total recoveries                                                 |   |              | 85     |   |   |   | 104 |   |
|                                                             |   |              |   |   |   |   |   |   |
| Net charge-offs                                                  |   |              | 327    |   |   |   | 539 |   |
|                                                             |   |              |   |   |   |   |   |   |
| Provisions charged to operations                                 |   |              | 1,179  |   |   |   | 984 |   |
| Balance at the end of the period                                 |   | $                 | 4,876  |   |   | $ | 3,865 |   |
|                                                             |   |              |   |   |   |   |   |   |
| Ratio of annualized net charge-offs to average loans outstanding |   |              | 0.15   | % |   |   | 0.26 | % |
| Ratio of annualized net charge-offs to nonperforming assets      |   |              | 6.31   | % |   |   | 24.44 | % |
| Allowance for loan losses to nonperforming loans                 |   |              | 76.80  | % |   |   | 123.21 | % |
| Allowance for loan losses to total loans receivable              |   |              | 1.62   | % |   |   | 1.33 | % |

|                                                                                    |   | At             |   |
|-----------------------------------------------------------------------------------------|--------|----------------|--------|
| (Dollars in thousands)                                                                  |   | March 31, 2011 |   |   | June 30, 2010 |   |
| Nonaccrual loans:                                                                       |   |           |   |   |   |   |
|      Real estate mortgages:                                    |   |           |   |   |   |   |
|            Residential           |   | $              | 3,214  |   |   | $ | 2,001 |   |
|            Commercial            |   |           | 2,041  |   |   |   | 1,095 |   |
|            Construction and land |   |           | 13     |   |   |   | 13 |   |
|            Multi-family          |   |           | 581    |   |   |   | 594 |   |
|      Home equity loans                                         |   |           | 311    |   |   |   | 197 |   |
|      Commercial loans                                          |   |           | 148    |   |   |   | 3 |   |
|      Installment loans                                         |   |           | 41     |   |   |   | 18 |   |
| Total nonaccrual loans                                                                  |   |           | 6,349  |   |   |   | 3,921 |   |
| Foreclosed real estate:                                                                 |   |           |   |   |   |   |   |   |
|      Residential                                               |   |           | 363    |   |   |   | --- |   |
|      Multi-family                                              |   |           | 200    |   |   |   | --- |   |
| Foreclosed real estate                                                                  |   |           | 563    |   |   |   | --- |   |
| Total nonperforming assets                                                              |   | $              | 6,912  |   |   | $ | 3,921 |   |
|                                                                                    |   |           |   |   |   |   |   |   |
| Total nonperforming assets as a percentage of total assets                              |   |           | 1.23   | % |   |   | 0.79 | % |
| Total nonperforming loans to total loans, net                                           |   |           | 2.14   | % |   |   | 1.33 | % |

| (In thousands)                                                                                               |   | 2011   |   |   | 2010   |   |
|--------------------------------------------------------------------------------------------------------------|--------|--------|--------|--------|--------|--------|
| Interest income that would have been recorded if loans had been performing in accordance with original terms |   | $      | 458    |   |   | $      | 239 |   |
| Interest income that was recorded on nonaccrual loans during the quarter  ended                    |   |   | 176    |   |   |   | 72 |   |

| (In thousands)                                                             |   | 2011   |   |   | 2010   |   |
|----------------------------------------------------------------------------|--------|--------|--------|--------|--------|--------|
| Balance of impaired loans, with a valuation allowance                      |   | $      | 373    |   |   | $      | --- |   |
| Allowance relating to impaired loans included in allowance for loan losses |   |   | 93     |   |   |   | --- |   |
| Balance of impaired loans, without a valuation allowance                   |   |   | 212    |   |   |   | --- |   |
| Average balance of impaired loans for the nine months ended                |   |   | 768    |   |   |   | 98 |   |
| Interest income recorded on impaired loans during the nine months ended    |   |   | 10     |   |   |   | 3 |   |

----

| (Dollars in thousands)       |   |                                                                    |    |   |                   |   |   |                                                                                                  |   |   |                   |   |
|------------------------------|--------|-------------------------------------------------------------------------|---------|--------|------------------------|--------|--------|-------------------------------------------------------------------------------------------------------|--------|--------|------------------------|--------|
|                         |   |      At     March 31, 2011 |    |   | Percentageof Portfolio |   |   |        At         June 30, 2010 |   |   | Percentageof Portfolio |   |
| Noninterest bearing deposits |   | $                                                                       | 48,959  |   |                   |   | 9.8    | %                                                                                                     |   | $      | 44,239                 |   |   |   | 10.5 | % |
| Certificates of deposit      |   |                                                                    | 94,722  |   |                   |   | 19.0   |                                                                                                  |   |   | 96,909                 |   |   |   | 23.0 |   |
| Savings deposits             |   |                                                                    | 102,818 |   |                   |   | 20.6   |                                                                                                  |   |   | 95,249                 |   |   |   | 22.6 |   |
| Money market deposits        |   |                                                                    | 84,053  |   |                   |   | 16.9   |                                                                                                  |   |   | 63,899                 |   |   |   | 15.1 |   |
| NOW deposits                 |   |                                                                    | 168,297 |   |                   |   | 33.7   |                                                                                                  |   |   | 121,436                |   |   |   | 28.8 |   |
| Total deposits               |   | $                                                                       | 498,849 |   |                   |   | 100.0  | %                                                                                                     |   | $      | 421,732                |   |   |   | 100.0 | % |

| (In thousands)  |   |   |   |
|-----------------|--------|--------|--------|
| Fiscal year end |   |   |   |
| 2012            |   | $      | 3,000  |   |
| 2013            |   |   | 1,000  |   |
| 2014            |   |   | 6,000  |   |
| 2015            |   |   | 2,000  |   |
|            |   | $      | 12,000 |   |

| (Dollars in thousands)                                                  |   |          2011        |    |   |          2011          |   |   |             2011 |   |   |          2010        |   |   |          2010     |    |   |          2010         |   |
|-------------------------------------------------------------------------|--------|--------------------------------------------------------------|---------|--------|-----------------------------------------------------------|--------|--------|--------------------------------------------------------------------|--------|--------|---------------------------------------------------------|--------|--------|------------------------------------------------------|---------|--------|----------------------------------------------------------|--------|
|                                                                    |   |          Average     |    |   |          Interest |   |   |           Average          |   |   |          Average     |   |   |          Interest |    |   |          Average      |   |
|                                                                    |   |          Outstanding |    |   |          Earned/       |   |   |           Yield/                |   |   |          Outstanding |   |   |          Earned/  |    |   |           Yield/ |   |
|                                                                    |   |          Balance     |    |   |          Paid          |   |   |           Rate                  |   |   |          Balance     |   |   |          Paid     |    |   |          Rate         |   |
| Interest earning assets:                                                |   |                                                         |    |   |                                                      |   |   |                                                               |   |   |                                                    |   |   |                                                 |    |   |                                                     |   |
|    Loans receivable, net1                                |   | $                                                            | 301,333 |   |                                                      | $      | 13,434 |                                                               |   |   | 5.94                                                    | %      |   | $                                                    | 282,579 |   |                                                     | $      | 12,830 |   |   |   | 6.05 | % |
|    Securities2                                           |   |                                                         | 186,406 |   |                                                      |   | 4,510  |                                                               |   |   | 3.23                                                    |   |   |                                                 | 157,430 |   |                                                     |   | 4,377 |   |   |   | 3.70 |   |
|    Federal funds                                         |   |                                                         | 3,917   |   |                                                      |   | 6      |                                                               |   |   | 0.20                                                    |   |   |                                                 | 2,744   |   |                                                     |   | 2 |   |   |   | 0.10 |   |
|    Interest bearing bank balances                        |   |                                                         | 11,771  |   |                                                      |   | 26     |                                                               |   |   | 0.30                                                    |   |   |                                                 | 4,725   |   |                                                     |   | 11 |   |   |   | 0.31 |   |
|    FHLB stock                                            |   |                                                         | 1,456   |   |                                                      |   | 65     |                                                               |   |   | 5.95                                                    |   |   |                                                 | 1,483   |   |                                                     |   | 63 |   |   |   | 5.66 |   |
|        Total interest earning assets |   |                                                         | 504,883 |   |                                                      |   | 18,041 |                                                               |   |   | 4.76                                                    | %      |   |                                                 | 448,961 |   |                                                     |   | 17,283 |   |   |   | 5.13 | % |
| Cash and due from banks                                                 |   |                                                         | 7,190   |   |                                                      |   |   |                                                               |   |   |                                                    |   |   |                                                 | 6,521   |   |                                                     |   |   |   |   |   |   |   |
| Allowance for loan losses                                               |   |                                                         | (4,382  | )      |                                                      |   |   |                                                               |   |   |                                                    |   |   |                                                 | (3,625  | )      |                                                     |   |   |   |   |   |   |   |
| Other non-interest earning assets                                       |   |                                                         | 18,845  |   |                                                      |   |   |                                                               |   |   |                                                    |   |   |                                                 | 18,315  |   |                                                     |   |   |   |   |   |   |   |
|      Total assets                              |   | $                                                            | 526,536 |   |                                                      |   |   |                                                               |   |   |                                                    |   |   | $                                                    | 470,172 |   |                                                     |   |   |   |   |   |   |   |
|                                                                    |   |                                                         |    |   |                                                      |   |   |                                                               |   |   |                                                    |   |   |                                                 |    |   |                                                     |   |   |   |   |   |   |   |
| Interest bearing liabilities:                                           |   |                                                         |    |   |                                                      |   |   |                                                               |   |   |                                                    |   |   |                                                 |    |   |                                                     |   |   |   |   |   |   |   |
|    Savings and money market deposits                     |   | $                                                            | 164,537 |   |                                                      | $      | 837    |                                                               |   |   | 0.68                                                    | %      |   | $                                                    | 145,612 |   |                                                     | $      | 867 |   |   |   | 0.79 | % |
|    NOW deposits                                          |   |                                                         | 153,256 |   |                                                      |   | 753    |                                                               |   |   | 0.66                                                    |   |   |                                                 | 123,888 |   |                                                     |   | 1,140 |   |   |   | 1.22 |   |
|    Certificates of deposit                               |   |                                                         | 96,780  |   |                                                      |   | 1,417  |                                                               |   |   | 1.95                                                    |   |   |                                                 | 96,703  |   |                                                     |   | 1,589 |   |   |   | 2.19 |   |
|    Borrowings                                            |   |                                                         | 16,981  |   |                                                      |   | 422    |                                                               |   |   | 3.31                                                    |   |   |                                                 | 20,307  |   |                                                     |   | 486 |   |   |   | 3.19 |   |
|       Total interest bearing liabilities  |   |                                                         | 431,554 |   |                                                      |   | 3,429  |                                                               |   |   | 1.06                                                    | %      |   |                                                 | 386,510 |   |                                                     |   | 4,082 |   |   |   | 1.41 | % |
| Non-interest bearing deposits                                           |   |                                                         | 46,663  |   |                                                      |   |   |                                                               |   |   |                                                    |   |   |                                                 | 39,446  |   |                                                     |   |   |   |   |   |   |   |
| Other non-interest bearing liabilities                                  |   |                                                         | 2,539   |   |                                                      |   |   |                                                               |   |   |                                                    |   |   |                                                 | 2,269   |   |                                                     |   |   |   |   |   |   |   |
| Shareholders’ equity                                              |   |                                                         | 45,780  |   |                                                      |   |   |                                                               |   |   |                                                    |   |   |                                                 | 41,947  |   |                                                     |   |   |   |   |   |   |   |
|      Total liabilities and equity              |   | $                                                            | 526,536 |   |                                                      |   |   |                                                               |   |   |                                                    |   |   | $                                                    | 470,172 |   |                                                     |   |   |   |   |   |   |   |
|                                                                    |   |                                                         |    |   |                                                      |   |   |                                                               |   |   |                                                    |   |   |                                                 |    |   |                                                     |   |   |   |   |   |   |   |
| Net interest income                                                     |   |                                                         |    |   |                                                      | $      | 14,612 |                                                               |   |   |                                                    |   |   |                                                 |    |   |                                                     | $      | 13,201 |   |   |   |   |   |
|                                                                    |   |                                                         |    |   |                                                      |   |   |                                                               |   |   |                                                    |   |   |                                                 |    |   |                                                     |   |   |   |   |   |   |   |
| Net interest rate spread                                                |   |                                                         |    |   |                                                      |   |   |                                                               |   |   | 3.70                                                    | %      |   |                                                 |    |   |                                                     |   |   |   |   |   | 3.72 | % |
|                                                                    |   |                                                         |    |   |                                                      |   |   |                                                               |   |   |                                                    |   |   |                                                 |    |   |                                                     |   |   |   |   |   |   |   |
| Net earning assets                                                      |   | $                                                            | 73,329  |   |                                                      |   |   |                                                               |   |   |                                                    |   |   | $                                                    | 62,451  |   |                                                     |   |   |   |   |   |   |   |
|                                                                    |   |                                                         |    |   |                                                      |   |   |                                                               |   |   |                                                    |   |   |                                                 |    |   |                                                     |   |   |   |   |   |   |   |
| Net interest margin                                                     |   |                                                         |    |   |                                                      |   |   |                                                               |   |   | 3.86                                                    | %      |   |                                                 |    |   |                                                     |   |   |   |   |   | 3.92 | % |
|                                                                    |   |                                                         |    |   |                                                      |   |   |                                                               |   |   |                                                    |   |   |                                                 |    |   |                                                     |   |   |   |   |   |   |   |
| Average interest earning assets to                                      |   |                                                         |    |   |                                                      |   |   |                                                               |   |   |                                                    |   |   |                                                 |    |   |                                                     |   |   |   |   |   |   |   |
| average interest bearing liabilities                                    |   |                                                         |    |   |                                                      |   |   |                                                               |   |   | 116.99                                                  | %      |   |                                                 |    |   |                                                     |   |   |   |   |   | 116.16 | % |

| (Dollars in thousands)                                                  |   |          2011        |    |   |          2011     |   |   |          2011    |   |   |          2010        |   |   |          2010     |    |   |          2010    |   |
|-------------------------------------------------------------------------|--------|--------------------------------------------------------------|---------|--------|-----------------------------------------------------------|--------|--------|----------------------------------------------------------|--------|--------|--------------------------------------------------------------|--------|--------|-----------------------------------------------------------|---------|--------|----------------------------------------------------------|--------|
|                                                                    |   |          Average     |    |   |          Interest |   |   |          Average |   |   |          Average     |   |   |          Interest |    |   |          Average |   |
|                                                                    |   |          Outstanding |    |   |          Earned/  |   |   |          Yield/  |   |   |          Outstanding |   |   |          Earned/  |    |   |          Yield/  |   |
|                                                                    |   |          Balance     |    |   |          Paid     |   |   |          Rate    |   |   |          Balance     |   |   |          Paid     |    |   |          Rate    |   |
| Interest earning assets:                                                |   |                                                         |    |   |                                                      |   |   |                                                     |   |   |                                                         |   |   |                                                      |    |   |                                                     |   |
|    Loans receivable, net1                                |   | $                                                            | 300,242 |   |                                                      | $      | 4,388  |                                                     |   |   | 5.85                                                         | %      |   | $                                                         | 289,112 |   |                                                     | $      | 4,374 |   |   |   | 6.05 | % |
|    Securities2                                           |   |                                                         | 205,145 |   |                                                      |   | 1,578  |                                                     |   |   | 3.08                                                         |   |   |                                                      | 152,897 |   |                                                     |   | 1,499 |   |   |   | 3.92 |   |
|    Federal funds                                         |   |                                                         | 4,628   |   |                                                      |   | 3      |                                                     |   |   | 0.26                                                         |   |   |                                                      | 1,788   |   |                                                     |   | 1 |   |   |   | 0.22 |   |
|    Interest bearing bank balances                        |   |                                                         | 13,784  |   |                                                      |   | 9      |                                                     |   |   | 0.26                                                         |   |   |                                                      | 6,233   |   |                                                     |   | 2 |   |   |   | 0.13 |   |
|    FHLB stock                                            |   |                                                         | 1,297   |   |                                                      |   | 21     |                                                     |   |   | 6.48                                                         |   |   |                                                      | 1,445   |   |                                                     |   | 21 |   |   |   | 5.81 |   |
|        Total interest earning assets |   |                                                         | 525,096 |   |                                                      |   | 5,999  |                                                     |   |   | 4.57                                                         | %      |   |                                                      | 451,475 |   |                                                     |   | 5,897 |   |   |   | 5.22 | % |
| Cash and due from banks                                                 |   |                                                         | 7,270   |   |                                                      |   |   |                                                     |   |   |                                                         |   |   |                                                      | 6,616   |   |                                                     |   |   |   |   |   |   |   |
| Allowance for loan losses                                               |   |                                                         | (4,653  | )      |                                                      |   |   |                                                     |   |   |                                                         |   |   |                                                      | (3,738  | )      |                                                     |   |   |   |   |   |   |   |
| Other non-interest earning assets                                       |   |                                                         | 19,576  |   |                                                      |   |   |                                                     |   |   |                                                         |   |   |                                                      | 19,517  |   |                                                     |   |   |   |   |   |   |   |
|      Total assets                              |   | $                                                            | 547,289 |   |                                                      |   |   |                                                     |   |   |                                                         |   |   | $                                                         | 473,870 |   |                                                     |   |   |   |   |   |   |   |
|                                                                    |   |                                                         |    |   |                                                      |   |   |                                                     |   |   |                                                         |   |   |                                                      |    |   |                                                     |   |   |   |   |   |   |   |
| Interest bearing liabilities:                                           |   |                                                         |    |   |                                                      |   |   |                                                     |   |   |                                                         |   |   |                                                      |    |   |                                                     |   |   |   |   |   |   |   |
|    Savings and money market deposits                     |   | $                                                            | 171,717 |   |                                                      | $      | 269    |                                                     |   |   | 0.63                                                         | %      |   | $                                                         | 148,298 |   |                                                     | $      | 279 |   |   |   | 0.75 | % |
|    NOW deposits                                          |   |                                                         | 166,856 |   |                                                      |   | 249    |                                                     |   |   | 0.60                                                         |   |   |                                                      | 125,052 |   |                                                     |   | 360 |   |   |   | 1.15 |   |
|    Certificates of deposit                               |   |                                                         | 95,581  |   |                                                      |   | 444    |                                                     |   |   | 1.86                                                         |   |   |                                                      | 95,630  |   |                                                     |   | 491 |   |   |   | 2.05 |   |
|    Borrowings                                            |   |                                                         | 13,444  |   |                                                      |   | 117    |                                                     |   |   | 3.48                                                         |   |   |                                                      | 19,399  |   |                                                     |   | 153 |   |   |   | 3.15 |   |
|       Total interest bearing liabilities  |   |                                                         | 447,598 |   |                                                      |   | 1,079  |                                                     |   |   | 0.96                                                         | %      |   |                                                      | 388,379 |   |                                                     |   | 1,283 |   |   |   | 1.32 | % |
| Non-interest bearing deposits                                           |   |                                                         | 50,954  |   |                                                      |   |   |                                                     |   |   |                                                         |   |   |                                                      | 39,951  |   |                                                     |   |   |   |   |   |   |   |
| Other non-interest bearing liabilities                                  |   |                                                         | 2,460   |   |                                                      |   |   |                                                     |   |   |                                                         |   |   |                                                      | 2,524   |   |                                                     |   |   |   |   |   |   |   |
| Shareholders’ equity                                              |   |                                                         | 46,277  |   |                                                      |   |   |                                                     |   |   |                                                         |   |   |                                                      | 43,016  |   |                                                     |   |   |   |   |   |   |   |
|      Total liabilities and equity              |   | $                                                            | 547,289 |   |                                                      |   |   |                                                     |   |   |                                                         |   |   | $                                                         | 473,870 |   |                                                     |   |   |   |   |   |   |   |
|                                                                    |   |                                                         |    |   |                                                      |   |   |                                                     |   |   |                                                         |   |   |                                                      |    |   |                                                     |   |   |   |   |   |   |   |
| Net interest income                                                     |   |                                                         |    |   |                                                      | $      | 4,920  |                                                     |   |   |                                                         |   |   |                                                      |    |   |                                                     | $      | 4,614 |   |   |   |   |   |
|                                                                    |   |                                                         |    |   |                                                      |   |   |                                                     |   |   |                                                         |   |   |                                                      |    |   |                                                     |   |   |   |   |   |   |   |
| Net interest rate spread                                                |   |                                                         |    |   |                                                      |   |   |                                                     |   |   | 3.61                                                         | %      |   |                                                      |    |   |                                                     |   |   |   |   |   | 3.90 | % |
|                                                                    |   |                                                         |    |   |                                                      |   |   |                                                     |   |   |                                                         |   |   |                                                      |    |   |                                                     |   |   |   |   |   |   |   |
| Net earning assets                                                      |   | $                                                            | 77,498  |   |                                                      |   |   |                                                     |   |   |                                                         |   |   | $                                                         | 63,096  |   |                                                     |   |   |   |   |   |   |   |
|                                                                    |   |                                                         |    |   |                                                      |   |   |                                                     |   |   |                                                         |   |   |                                                      |    |   |                                                     |   |   |   |   |   |   |   |
| Net interest margin                                                     |   |                                                         |    |   |                                                      |   |   |                                                     |   |   | 3.75                                                         | %      |   |                                                      |    |   |                                                     |   |   |   |   |   | 4.09 | % |
|                                                                    |   |                                                         |    |   |                                                      |   |   |                                                     |   |   |                                                         |   |   |                                                      |    |   |                                                     |   |   |   |   |   |   |   |
| Average interest earning assets to                                      |   |                                                         |    |   |                                                      |   |   |                                                     |   |   |                                                         |   |   |                                                      |    |   |                                                     |   |   |   |   |   |   |   |
| average interest bearing liabilities                                    |   |                                                         |    |   |                                                      |   |   |                                                     |   |   | 117.31                                                       | %      |   |                                                      |    |   |                                                     |   |   |   |   |   | 116.25 | % |

----

| (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. |
|-------------------|-----------------|

|                                          |   | Nine MonthsEnded March 31, |   |   | Three MonthsEnded March 31,                     |   |
|-----------------------------------------------|--------|----------------------------|--------|--------|-------------------------------------------------|--------|
| (Dollars in thousands)                        |   | 2011 versus 2010           |   |   | 2011 versus 2010                                |   |
|                                          |   | Increase/(Decrease)        |   |   |         Total     |   |   | Increase/(Decrease) |   |   |         Total |   |
|                                          |   | Due to                     |   |   |         Increase/ |   |   | Due to |   |   |         Increase/ |   |
| Interest-earning assets:                      |   | Volume                     |   |   | Rate                                            |   |   |         (Decrease) |   |   | Volume |   |   | Rate |   |   |         (Decrease) |   |
|  Loans receivable, net1                  |   | $                          | 840    |   |                                            | $      | (236 | ) |   | $ | 604 |   |   | $ | 163 |   |   | $ | (149 | ) |   | $ | 14 |   |
|  Securities2                             |   |                       | 735    |   |                                            |   | (602 | ) |   |   | 133 |   |   |   | 443 |   |   |   | (364 | ) |   |   | 79 |   |
|  Federal funds                           |   |                       | 1      |   |                                            |   | 3 |   |   |   | 4 |   |   |   | 2 |   |   |   | --- |   |   |   | 2 |   |
|  Interest-bearing bank balances          |   |                       | 15     |   |                                            |   | --- |   |   |   | 15 |   |   |   | 4 |   |   |   | 3 |   |   |   | 7 |   |
|  FHLB stock                              |   |                       | (1     | )      |                                            |   | 3 |   |   |   | 2 |   |   |   | (2 | ) |   |   | 2 |   |   |   | --- |   |
| Total interest-earning assets                 |   |                       | 1,590  |   |                                            |   | (832 | ) |   |   | 758 |   |   |   | 610 |   |   |   | (508 | ) |   |   | 102 |   |
|                                          |   |                       |   |   |                                            |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Interest-bearing liabilities:                 |   |                       |   |   |                                            |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|   Savings and money market deposits |   |                       | 102    |   |                                            |   | (132 | ) |   |   | (30 | ) |   |   | 39 |   |   |   | (49 | ) |   |   | (10 | ) |
|   NOW deposits                      |   |                       | 223    |   |                                            |   | (610 | ) |   |   | (387 | ) |   |   | 96 |   |   |   | (207 | ) |   |   | (111 | ) |
|   Certificates of deposit           |   |                       | 1      |   |                                            |   | (173 | ) |   |   | (172 | ) |   |   | --- |   |   |   | (47 | ) |   |   | (47 | ) |
|   Borrowings                        |   |                       | (82    | )      |                                            |   | 18 |   |   |   | (64 | ) |   |   | (51 | ) |   |   | 15 |   |   |   | (36 | ) |
| Total interest-bearing liabilities            |   |                       | 244    |   |                                            |   | (897 | ) |   |   | (653 | ) |   |   | 84 |   |   |   | (288 | ) |   |   | (204 | ) |
| Net interest income                           |   | $                          | 1,346  |   |                                            | $      | 65 |   |   | $ | 1,411 |   |   | $ | 526 |   |   | $ | (220 | ) |   | $ | 306 |   |
|                                          |   |                       |   |   |                                            |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |

Item 3.  

Item 4.    

Item 1.

 Item 1A. 

Item 2. 

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

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

 Item 3.   

Item 4. 

 Item 5. 

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

| b)   | There were no material changes to the procedures by which security holders may recommend nominees to the Company’s Board of Directors during the period covered by this Form 10-Q. |
|----------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

Item 6.  

----

SIGNATURES

----

EXHIBIT 31.1

| 1. | I have reviewed this quarterly report on Form 10-Q 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 consolidated financial statements, and other financial information included in this  quarterly report, fairly present in all material respects the consolidated financial condition, consolidated results of operations and consolidated cash flows of the registrant as of, and for, the periods presented in this report; |
|----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 4. | The registrant’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)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f) for the registrant and have: |
|----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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

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

----

EXHIBIT 31.2

| 1. | I have reviewed this quarterly report on Form 10-Q 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 consolidated financial statements, and other financial information included in this  quarterly report, fairly present in all material respects the consolidated financial condition, consolidated results of operations and consolidated cash flows of the registrant as of, and for, the periods presented in this report; |
|----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 4. | The registrant’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)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f) for the registrant and have: |
|----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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

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

|   |   |
|--------|--------|

|   |   |
|--------|--------|

EXHIBIT 32.1

| 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 consolidated financial condition and consolidated 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

| 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 consolidated financial condition and consolidated 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 |
|--------|---------------------------------------------------------------------------------------------------------------|

|   |   |
|--------|--------|

|   |   |
|--------|--------|

----