----

|     | GREENE COUNTY BANCORP, INC.                                                                                                                                                                                                                                                                          |   |     |   |
|----------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|----------|--------|
|     |                                                                                                                                                                                                                                                                                                 |   |     |   |
|     |                                                                                                                                                                                                                                                                                                 |   |     |   |
|     |                                                                                                                                                                                                                                                                                                 |   |     |   |
|     | INDEX                                                                                                                                                                                                                                                                                                |   |     |   |
|     |                                                                                                                                                                                                                                                                                                 |   |     |   |
|     |                                                                                                                                                                                                                                                                                                 |   |     |   |
|     |                                                                                                                                                                                                                                                                                                 |   |     |   |
| PART I.  | FINANCIAL INFORMATION                                                                                                                                                                                                                                                                                |   |     |   |
|     |                                                                                                                                                                                                                                                                                                 |   | Page     |   |
| Item 1.  | Financial Statements (unaudited)                                                                                                                                                                                                                                                                     |   |     |   |
|     | *   Consolidated Statements of Financial Condition                                                                                                                                                                                                                                    |   | 3        |   |
|     | *   Consolidated Statements of Income                                                                                                                                                                                                                                                 |   | 4        |   |
|     | *   Consolidated Statements of Comprehensive Income                                                                                                                                                                                                                                   |   | 5        |   |
|     | *   Consolidated Statements of Changes in Shareholders’ Equity                                                                                                                                                                                                                  |   | 6        |   |
|     | *   Consolidated Statements of Cash Flows                                                                                                                                                                                                                                             |   | 7        |   |
|     | *   Notes to Consolidated Financial Statements                                                                                                                                                                                                                                        |   | 8-19     |   |
|     |                                                                                                                                                                                                                                                                                                 |   |     |   |
| Item 2.  | Management’s Discussion and Analysis of Financial Condition and Results of Operation                                                                                                                                                                                                           |   | 20-31    |   |
|     |                                                                                                                                                                                                                                                                                                 |   |     |   |
| Item 3.  | Quantitative and Qualitative Disclosures About Market Risk                                                                                                                                                                                                                                           |   | 32       |   |
|     |                                                                                                                                                                                                                                                                                                 |   |     |   |
| Item 4T. | Controls and Procedures                                                                                                                                                                                                                                                                              |   | 32       |   |
|     |                                                                                                                                                                                                                                                                                                 |   |     |   |
| PART II. | OTHER INFORMATION                                                                                                                                                                                                                                                                                    |   |     |   |
|     |                                                                                                                                                                                                                                                                                                 |   |     |   |
| Item 1.  | Legal Proceedings                                                                                                                                                                                                                                                                                    |   | 33       |   |
|     |                                                                                                                                                                                                                                                                                                 |   |     |   |
| Item 1A. | Risk Factors                                                                                                                                                                                                                                                                                         |   | 33       |   |
|     |                                                                                                                                                                                                                                                                                                 |   |     |   |
| Item 2.  | Unregistered Sales of Equity Securities and Use of Proceeds                                                                                                                                                                                                                                          |   | 33       |   |
|     |                                                                                                                                                                                                                                                                                                 |   |     |   |
| Item 3.  | Defaults Upon Senior Securities                                                                                                                                                                                                                                                                      |   | 33       |   |
|     |                                                                                                                                                                                                                                                                                                 |   |     |   |
| Item 4.  | [Removed and Reserved]                                                                                                                                                                                                                                                                               |   | 33       |   |
|     |                                                                                                                                                                                                                                                                                                 |   |     |   |
| Item 5.  | Other Information                                                                                                                                                                                                                                                                                    |   | 33       |   |
|     |                                                                                                                                                                                                                                                                                                 |   |     |   |
| Item 6.  | Exhibits                                                                                                                                                                                                                                                                                             |   | 33       |   |
|     |                                                                                                                                                                                                                                                                                                 |   |     |   |
|     | Signatures                                                                                                                                                                                                                                                                                           |   | 34       |   |
|     |    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 |   | 35363738 |   |

Greene County Bancorp, Inc.

| ASSETS                                                                                                                                                                                                                                                        |   | September 30, 2010  |    |   | June 30, 2010 |   |
|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|--------------------------|---------|--------|---------------|--------|
| Cash and due from banks                                                                                                                                                                                                                                       |   | $                        | 36,730  |   |          | $      | 9,253 |   |
| Federal funds sold                                                                                                                                                                                                                                            |   |                     | 2,299   |   |          |   | 390 |   |
|     Total cash and cash equivalents                                                                                                                                                                                                       |   |                     | 39,029  |   |          |   | 9,643 |   |
|                                                                                                                                                                                                                                                          |   |                     |    |   |          |   |   |   |
| Long term certificate of deposit                                                                                                                                                                                                                              |   |                     | 1,000   |   |          |   | 1,000 |   |
| Securities available for sale, at fair value                                                                                                                                                                                                                  |   |                     | 87,881  |   |          |   | 89,805 |   |
| Securities held to maturity, at amortized cost                                                                                                                                                                                                                |   |                     | 80,475  |   |          |   | 77,520 |   |
| Federal Home Loan Bank stock, at cost                                                                                                                                                                                                                         |   |                     | 1,457   |   |          |   | 1,866 |   |
|                                                                                                                                                                                                                                                          |   |                     |    |   |          |   |   |   |
| Loans                                                                                                                                                                                                                                                         |   |                     | 303,289 |   |          |   | 299,200 |   |
|   Allowance for loan losses                                                                                                                                                                                                                         |   |                     | (4,338  | )      |          |   | (4,024 | ) |
|   Unearned origination fees and costs, net                                                                                                                                                                                                          |   |                     | 443     |   |          |   | 406 |   |
|     Net loans receivable                                                                                                                                                                                                                  |   |                     | 299,394 |   |          |   | 295,582 |   |
|                                                                                                                                                                                                                                                          |   |                     |    |   |          |   |   |   |
| Premises and equipment                                                                                                                                                                                                                                        |   |                     | 14,849  |   |          |   | 14,804 |   |
| Accrued interest receivable                                                                                                                                                                                                                                   |   |                     | 2,846   |   |          |   | 2,731 |   |
| Foreclosed real estate                                                                                                                                                                                                                                        |   |                     | 200     |   |          |   | --- |   |
| Prepaid expenses and other assets                                                                                                                                                                                                                             |   |                     | 2,350   |   |          |   | 2,372 |   |
|                Total assets                                                                                                                                                        |   | $                        | 529,481 |   |          | $      | 495,323 |   |
|                                                                                                                                                                                                                                                          |   |                     |    |   |          |   |   |   |
| LIABILITIES AND SHAREHOLDERS’ EQUITY                                                                                                                                                                                                                    |   |                     |    |   |          |   |   |   |
| Noninterest bearing deposits                                                                                                                                                                                                                                  |   | $                        | 49,060  |   |          | $      | 44,239 |   |
| Interest bearing deposits                                                                                                                                                                                                                                     |   |                     | 414,384 |   |          |   | 377,493 |   |
|     Total deposits                                                                                                                                                                                                                        |   |                     | 463,444 |   |          |   | 421,732 |   |
|                                                                                                                                                                                                                                                          |   |                     |    |   |          |   |   |   |
| Borrowings from FHLB, short-term                                                                                                                                                                                                                              |   |                     | ---     |   |          |   | 9,100 |   |
| Borrowings from FHLB, long-term                                                                                                                                                                                                                               |   |                     | 17,000  |   |          |   | 17,000 |   |
| Accrued expenses and other liabilities                                                                                                                                                                                                                        |   |                     | 3,104   |   |          |   | 2,988 |   |
|                 Total liabilities                                                                                                                                             |   |                     | 483,548 |   |          |   | 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 -   4,123,245 shares at September 30, 2010                                                                                                                                                                       |   |                     |    |   |          |   |   |   |
|                             4,118,912 shares at June 30, 2010;                                                    |   |                     | 431     |   |          |   | 431 |   |
| Additional paid-in capital                                                                                                                                                                                                                                    |   |                     | 10,742  |   |          |   | 10,666 |   |
| Retained earnings                                                                                                                                                                                                                                             |   |                     | 34,698  |   |          |   | 33,692 |   |
| Accumulated other comprehensive income                                                                                                                                                                                                                        |   |                     | 1,438   |   |          |   | 1,123 |   |
| Treasury stock, at cost 182,425 shares at September 30, 2010                                                                                                                                                                                                  |   |                     |    |   |          |   |   |   |
|                                      186,758 shares at June 30, 2010 |   |                     | (1,376  | )      |          |   | (1,409 | ) |
|                Total shareholders’ equity                                                                                                                                    |   |                     | 45,933  |   |          |   | 44,503 |   |
|                Total liabilities and shareholders’ equity                                                                                                                    |   | $                        | 529,481 |   |          | $      | 495,323 |   |

----

  

Greene County Bancorp, Inc.

|                                                                     |   | 2010   |      |   | 2009   |   |
|--------------------------------------------------------------------------|--------|--------|-----------|--------|--------|--------|
| Interest income:                                                         |   |   |      |   |   |   |
|     Loans                                            |   | $      | 4,537     |   |   | $      | 4,167 |   |
|     Investment securities - taxable                  |   |   | 271       |   |   |   | 316 |   |
|     Mortgage-backed securities                       |   |   | 882       |   |   |   | 920 |   |
|     Investment securities - tax exempt               |   |   | 284       |   |   |   | 249 |   |
|     Interest bearing deposits and federal funds sold |   |   | 2         |   |   |   | 4 |   |
| Total interest income                                                    |   |   | 5,976     |   |   |   | 5,656 |   |
|                                                                     |   |   |      |   |   |   |   |   |
| Interest expense:                                                        |   |   |      |   |   |   |   |   |
|     Interest on deposits                             |   |   | 1,030     |   |   |   | 1,250 |   |
|     Interest on borrowings                           |   |   | 149       |   |   |   | 167 |   |
| Total interest expense                                                   |   |   | 1,179     |   |   |   | 1,417 |   |
|                                                                     |   |   |      |   |   |   |   |   |
| Net interest income                                                      |   |   | 4,797     |   |   |   | 4,239 |   |
| Provision for loan losses                                                |   |   | 353       |   |   |   | 248 |   |
| Net interest income after provision for loan losses                      |   |   | 4,444     |   |   |   | 3,991 |   |
|                                                                     |   |   |      |   |   |   |   |   |
| Non-interest income:                                                     |   |   |      |   |   |   |   |   |
|     Service charges on deposit accounts              |   |   | 567       |   |   |   | 748 |   |
|     Debit card fees                                  |   |   | 297       |   |   |   | 248 |   |
|     Investment services                              |   |   | 78        |   |   |   | 59 |   |
|     E-commerce fees                                  |   |   | 30        |   |   |   | 30 |   |
|     Other operating income                           |   |   | 128       |   |   |   | 116 |   |
| Total non-interest income                                                |   |   | 1,100     |   |   |   | 1,201 |   |
|                                                                     |   |   |      |   |   |   |   |   |
| Non-interest expense:                                                    |   |   |      |   |   |   |   |   |
|     Salaries and employee benefits                   |   |   | 1,917     |   |   |   | 1,806 |   |
|     Occupancy expense                                |   |   | 303       |   |   |   | 302 |   |
|     Equipment and furniture expense                  |   |   | 144       |   |   |   | 153 |   |
|     Service and data processing fees                 |   |   | 343       |   |   |   | 343 |   |
|     Computer software, supplies and support          |   |   | 71        |   |   |   | 82 |   |
|     Advertising and promotion                        |   |   | 101       |   |   |   | 78 |   |
|     FDIC insurance premiums                          |   |   | 143       |   |   |   | 135 |   |
|     Legal and professional fees                      |   |   | 90        |   |   |   | 75 |   |
|     Other                                            |   |   | 416       |   |   |   | 408 |   |
| Total non-interest expense                                               |   |   | 3,528     |   |   |   | 3,382 |   |
|                                                                     |   |   |      |   |   |   |   |   |
| Income before provision for income taxes                                 |   |   | 2,016     |   |   |   | 1,810 |   |
| Provision for income taxes                                               |   |   | 692       |   |   |   | 626 |   |
| Net income                                                               |   | $      | 1,324     |   |   | $      | 1,184 |   |
|                                                                     |   |   |      |   |   |   |   |   |
| Basic EPS                                                                |   | $      | 0.32      |   |   | $      | 0.29 |   |
| Basic average shares outstanding                                         |   |   | 4,121,299 |   |   |   | 4,105,312 |   |
| Diluted EPS                                                              |   | $      | 0.32      |   |   | $      | 0.29 |   |
| Diluted average shares outstanding                                       |   |   | 4,152,082 |   |   |   | 4,132,766 |   |
| Dividends per share                                                      |   | $      | 0.175     |   |   | $      | 0.170 |   |

 Greene County Bancorp, Inc.

|                                                                                    |   | 2010   |   |   | 2009   |   |
|-----------------------------------------------------------------------------------------|--------|--------|--------|--------|--------|--------|
|                                                                                    |   |   |   |   |   |   |
| Net income                                                                              |   | $      | 1,324  |   |   | $      | 1,184 |   |
|                                                                                    |   |   |   |   |   |   |   |   |
| Other comprehensive income:                                                             |   |   |   |   |   |   |   |   |
| Securities:                                                                             |   |   |   |   |   |   |   |   |
| Unrealized holding gains on available for sale securities, arising                      |   |   |   |   |   |   |   |   |
|   during the three months ended September 30, 2010 and 2009,                  |   |   |   |   |   |   |   |   |
|   net of income taxes of $188 and $266, respectively.                         |   |   | 299    |   |   |   | 421 |   |
|                                                                                    |   |   |   |   |   |   |   |   |
|   Accretion of unrealized loss on securities transferred to held-to-maturity, |   |   |   |   |   |   |   |   |
|     net of income taxes of $8 and $9, respectively                  |   |   | 12     |   |   |   | 15 |   |
|                                                                                    |   |   |   |   |   |   |   |   |
|                                                                                    |   |   |   |   |   |   |   |   |
| Other comprehensive income                                                              |   |   | 311    |   |   |   | 436 |   |
| Pension, actuarial gain, net of income tax                                              |   |   | 4      |   |   |   | --- |   |
|                                                                                    |   |   |   |   |   |   |   |   |
| Comprehensive income                                                                    |   | $      | 1,639  |   |   | $      | 1,620 |   |

----

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 compensation                     |                         |            56 |                                                   |                                     |                                                                             |         56 |
|                                           |                         |                                                            |                                                   |                                     |                                                                             |                                          |
| Dividends declared                             |                         |                                                            |          (306) |                                     |                                                                             |       (306)          |
|                                           |                         |                                                            |                                              |                                     |                                                                             |                                          |
| Net income                                     |                         |                                                            |         1,184            |                                     |                                                                             |    1,184                       |
|                                           |                         |                                                            |                                                   |                                     |                                                                             |                                          |
| Total other comprehensive income, net of taxes |                         |                                                            |                                                   |        436 |                                                                             |      436                  |
| Balance at                                     |                         |                                                            |                                                   |                                     |                                                                             |                                          |
| September 30, 2009                             | $431               |     $10,564                                      |       $30,923                 |    $1,228                      |             ($1,512)      | $41,634                                       |

| June 30, 2010                                  | $431   |     $10,666                                                         |        $33,692                 |     $1,123                     |             ($1,409) |  $44,503                                        |
|------------------------------------------------|------------------|------------------------------------------------------------------------------------|--------------------------------------------------------------|-----------------------------------------------|----------------------------------------------------------------------------------|------------------------------------------------------|
|                                           |             |                                                                               |                                                         |                                          |                                                                             |                                            |
| Stock options exercised                        |             |             21              |                                                         |                                          |             33            |         54        |
|                                           |             |                                                                               |                                                         |                                          |                                                                             |                                            |
| Tax effect of stock options exercised          |             |               (1) |                                                         |                                          |                                                                             |          (1) |
|                                           |             |                                                                               |                                                         |                                          |                                                                             |                                                 |
| Stock options compensation                     |             |             56              |                                                         |                                          |                                                                             |          56       |
|                                           |             |                                                                          |                                                         |                                          |                                                                             |                                                 |
| Dividends declared                             |             |                                                                               |           (318) |                                          |                                                                             |        (318)           |
|                                           |             |                                                                               |                                                         |                                          |                                                                             |                                                 |
| Net income                                     |             |                                                                               |          1,324       |                                          |                                                                             |      1,324                       |
|                                           |             |                                                                               |                                                         |                                          |                                                                             |                                                 |
| Total other comprehensive income, net of taxes |             |                                                                               |                                                         |        315 |                                                                             |         315       |
| Balance at                                     |             |                                                                               |                                                         |                                          |                                                                             |                                                 |
| September 30, 2010                             | $431   |        $10,742                                       |       $34,698                       |   $1,438                                 |             ($1,376)      |   $45,933                                       |
|                                           |             |                                                                               |                                                         |                                          |                                                                             |                                                 |

----

Greene County Bancorp, Inc.

| (In thousands)                                                                                        |   | 2010   |   |   | 2009   |   |
|-------------------------------------------------------------------------------------------------------|--------|--------|--------|--------|--------|--------|
| Cash flows from operating activities:                                                                 |   |   |   |   |   |   |
| Net Income                                                                                            |   | $      | 1,324  |   |   | $      | 1,184 |   |
| Adjustments to reconcile net income to net cash provided by operating activities:                     |   |   |   |   |   |   |   |   |
|      Depreciation                                                            |   |   | 195    |   |   |   | 233 |   |
|      Net amortization of premiums and discounts                              |   |   | 253    |   |   |   | 200 |   |
|      Net amortization of deferred loan costs and fees                        |   |   | 42     |   |   |   | 49 |   |
|      Provision for loan losses                                               |   |   | 353    |   |   |   | 248 |   |
|      Stock option compensation                                               |   |   | 56     |   |   |   | 56 |   |
|      Net loss on sale of foreclosed real estate                              |   |   | ---    |   |   |   | 8 |   |
|      Net increase in accrued income taxes                                    |   |   | 26     |   |   |   | 80 |   |
|      Net increase in accrued interest receivable                             |   |   | (115   | )      |   |   | (121 | ) |
|      Net increase in prepaid and other assets                                |   |   | (7     | )      |   |   | (177 | ) |
|      Net decrease in other liabilities                                       |   |   | (74    | )      |   |   | (850 | ) |
|           Net cash provided by operating activities |   |   | 2,053  |   |   |   | 910 |   |
|                                                                                                  |   |   |   |   |   |   |   |   |
| Cash flows from investing activities:                                                                 |   |   |   |   |   |   |   |   |
|    Securities available-for-sale:                                                      |   |   |   |   |   |   |   |   |
|      Proceeds from maturities                                                |   |   | 4,042  |   |   |   | 3,000 |   |
|      Purchases of securities                                                 |   |   | (3,999 | )      |   |   | --- |   |
|      Principal payments on securities                                        |   |   | 2,266  |   |   |   | 2,412 |   |
|    Securities held-to-maturity:                                                        |   |   |   |   |   |   |   |   |
|      Proceeds from maturities                                                |   |   | 4,391  |   |   |   | 844 |   |
|      Purchases of securities                                                 |   |   | (8,513 | )      |   |   | (4,277 | ) |
|      Principal payments on securities                                        |   |   | 1,036  |   |   |   | 910 |   |
|    Net sale of Federal Home Loan Bank Stock                                            |   |   | 409    |   |   |   | --- |   |
|    Net increase in loans receivable                                                    |   |   | (4,407 | )      |   |   | (8,559 | ) |
|    Proceeds from sale of foreclosed real estate                                        |   |   | ---    |   |   |   | 207 |   |
|    Purchases of premises and equipment                                                 |   |   | (240   | )      |   |   | (84 | ) |
|           Net cash used in investing activities     |   |   | (5,015 | )      |   |   | (5,547 | ) |
|                                                                                                  |   |   |   |   |   |   |   |   |
| Cash flows from financing activities:                                                                 |   |   |   |   |   |   |   |   |
|      Net decrease in short-term FHLB advances                                |   |   | (9,100 | )      |   |   | --- |   |
|      Payment of cash dividends                                               |   |   | (318   | )      |   |   | (306 | ) |
|      Proceeds from stock options exercised                                   |   |   | 54     |   |   |   | --- |   |
|      Net increase in deposits                                                |   |   | 41,712 |   |   |   | 10,642 |   |
|           Net cash provided by financing activities |   |   | 32,348 |   |   |   | 10,336 |   |
|                                                                                                  |   |   |   |   |   |   |   |   |
| Net increase in cash and cash equivalents                                                             |   |   | 29,386 |   |   |   | 5,699 |   |
| Cash and cash equivalents at beginning of period                                                      |   |   | 9,643  |   |   |   | 9,443 |   |
| Cash and cash equivalents at end of period                                                            |   | $      | 39,029 |   |   | $      | 15,142 |   |
|                                                                                                  |   |   |   |   |   |   |   |   |
| Non-cash investing activities:                                                                        |   |   |   |   |   |   |   |   |
|    Foreclosed loans transferred to foreclosed real estate                              |   | $      | 200    |   |   | $      | --- |   |
| Cash paid during the period:                                                                          |   |   |   |   |   |   |   |   |
| Interest                                                                                              |   | $      | 1,183  |   |   | $      | 1,414 |   |
| Income taxes                                                                                          |   |   | 666    |   |   |   | 546 |   |

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

----

Greene County Bancorp, Inc.

|                                                |   |                               |    |   | Gross     |   |   | Gross     |   |   | Estimated                          |   |
|-----------------------------------------------------|--------|------------------------------------|---------|--------|--------------------------|--------|--------|--------------------------|--------|--------|------------------------------------|--------|
|                                                |   | Amortized                          |    |   | Unrealized               |   |   | Unrealized               |   |   | Fair      |   |
|                                                |   | Cost      |    |   | Gains     |   |   | Losses    |   |   | Value          |   |
| (In thousands)                                      |   |                               |    |   |                     |   |   |                     |   |   |                               |   |
| Securities available-for-sale:                      |   |                               |    |   |                     |   |   |                     |   |   |                               |   |
|   U.S. government sponsored enterprises   |   | $                                  | 22,354  |   |                     | $      | 431    |                     |   | $      | ---                                |   |   | $ | 22,785 |   |
|   State and political subdivisions        |   |                               | 7,889   |   |                     |   | 348    |                     |   |   | ---                                |   |   |   | 8,237 |   |
|   Mortgage-backed securities-residential  |   |                               | 22,700  |   |                     |   | 1,039  |                     |   |   | ---                                |   |   |   | 23,739 |   |
|   Mortgage-backed securities-multi-family |   |                               | 24,449  |   |                     |   | 1,253  |                     |   |   | ---                                |   |   |   | 25,702 |   |
|   Asset-backed securities                 |   |                               | 32      |   |                     |   | ---    |                     |   |   | 1                                  |   |   |   | 31 |   |
|   Corporate debt securities               |   |                               | 6,900   |   |                     |   | 384    |                     |   |   | ---                                |   |   |   | 7,284 |   |
| Total debt securities                               |   |                               | 84,324  |   |                     |   | 3,455  |                     |   |   | 1                                  |   |   |   | 87,778 |   |
|   Equity securities and other             |   |                               | 67      |   |                     |   | 36     |                     |   |   | ---                                |   |   |   | 103 |   |
| Total securities available-for-sale                 |   |                               | 84,391  |   |                     |   | 3,491  |                     |   |   | 1                                  |   |   |   | 87,881 |   |
| Securities held-to-maturity:                        |   |                               |    |   |                     |   |   |                     |   |   |                               |   |   |   |   |   |
|   U.S. government sponsored enterprises   |   |                               | 7,002   |   |                     |   | 88     |                     |   |   | ---                                |   |   |   | 7,090 |   |
|   State and political subdivisions        |   |                               | 33,917  |   |                     |   | 139    |                     |   |   | 5                                  |   |   |   | 34,051 |   |
|   Mortgage-backed securities-residential  |   |                               | 35,255  |   |                     |   | 1,715  |                     |   |   | ---                                |   |   |   | 36,970 |   |
|   Mortgage-backed securities-multi-family |   |                               | 3,928   |   |                     |   | 17     |                     |   |   | 2                                  |   |   |   | 3,943 |   |
|   Other securities                        |   |                               | 373     |   |                     |   | ---    |                     |   |   | ---                                |   |   |   | 373 |   |
| Total securities held-to-maturity                   |   |                               | 80,475  |   |                     |   | 1,959  |                     |   |   | 7                                  |   |   |   | 82,427 |   |
| Total securities                                    |   | $                                  | 164,866 |   |                     | $      | 5,450  |                     |   | $      | 8                                  |   |   | $ | 170,308 |   |

|                                                |   |                               |    |   | 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:                      |   |                |   |   |                |   |   |   |   |   |   |   |   |   |   |   |   |   |
|   Asset-backed securities                 |   | $                   | ---    |   |                | $      | ---    |   |   | $ | 31 |   |   |   | 1 |   |   |   | 31 |   |   |   | 1 |   |
| Total available-for-sale securities                 |   |                | ---    |   |                |   | ---    |   |   |   | 31 |   |   |   | 1 |   |   |   | 31 |   |   |   | 1 |   |
| Securities held-to-maturity:                        |   |                |   |   |                |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|   State and political subdivisions        |   |                | 957    |   |                |   | 5      |   |   |   | --- |   |   |   | --- |   |   |   | 957 |   |   |   | 5 |   |
|   Mortgage-backed securities-multi-family |   |                | 1,007  |   |                |   | 2      |   |   |   | --- |   |   |   | --- |   |   |   | 1,007 |   |   |   | 2 |   |
| Total held-to-maturity securities                   |   |                | 1,964  |   |                |   | 7      |   |   |   | --- |   |   |   | --- |   |   |   | 1,964 |   |   |   | 7 |   |
| Total securities                                    |   | $                   | 1,964  |   |                | $      | 7      |   |   | $ | 31 |   |   | $ | 1 |   |   | $ | 1,995 |   |   | $ | 8 |   |

|                                  |   | 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 |   |

|                                                |   |                                                                                            |   |   |           After    |   |   |           After     |   |   |                                                                                 |   |   |                                                         |   |
|-----------------------------------------------------|--------|-------------------------------------------------------------------------------------------------|--------|--------|---------------------------------------------------------------------------|--------|--------|--------------------------------------------------------------------------------------|--------|--------|--------------------------------------------------------------------------------------|--------|--------|--------------------------------------------------------------|--------|
|                                                |   |           In         |   |   |           One Year                |   |   |           Five Years                    |   |   |                                                                                 |   |   |                                                         |   |
|                                                |   |           One Year                                      |   |   |           Through            |   |   |           Through                  |   |   |           After     |   |   |                                                         |   |
|                                                |   |            Or Less                                 |   |   |           Five Years              |   |   |           Ten Years                     |   |   |           Ten Years                     |   |   |           Total |   |
| (Dollars in thousands)                              |   |                                                                                            |   |   |                                                                      |   |   |                                                                                 |   |   |                                                                                 |   |   |                                                         |   |
| Securities available-for-sale:                      |   |                                                                                            |   |   |                                                                      |   |   |                                                                                 |   |   |                                                                                 |   |   |                                                         |   |
|   U.S. Government sponsored enterprises   |   | $                                                                                               | 1,328  |   |                                                                      | $      | 19,189 |                                                                                 |   | $      | 2,268                                                                                |   |   | $                                                            | ---    |   |   | $ | 22,785 |   |
|   State and political subdivisions        |   |                                                                                            | 1,521  |   |                                                                      |   | 6,355  |                                                                                 |   |   | 361                                                                                  |   |   |                                                         | ---    |   |   |   | 8,237 |   |
|   Mortgage-backed securities-residential  |   |                                                                                            | 1,186  |   |                                                                      |   | 2,199  |                                                                                 |   |   | 7,599                                                                                |   |   |                                                         | 12,755 |   |   |   | 23,739 |   |
|   Mortgage-backed securities-multi-family |   |                                                                                            | 1,182  |   |                                                                      |   | 21,585 |                                                                                 |   |   | 2,935                                                                                |   |   |                                                         | ---    |   |   |   | 25,702 |   |
|   Asset-backed securities                 |   |                                                                                            | ---    |   |                                                                      |   | ---    |                                                                                 |   |   | ---                                                                                  |   |   |                                                         | 31     |   |   |   | 31 |   |
|   Corporate debt securities               |   |                                                                                            | ---    |   |                                                                      |   | 2,962  |                                                                                 |   |   | 4,322                                                                                |   |   |                                                         | ---    |   |   |   | 7,284 |   |
| Total debt securities                               |   |                                                                                            | 5,217  |   |                                                                      |   | 52,290 |                                                                                 |   |   | 17,485                                                                               |   |   |                                                         | 12,786 |   |   |   | 87,778 |   |
|   Equity securities                       |   |                                                                                            | ---    |   |                                                                      |   | ---    |                                                                                 |   |   | ---                                                                                  |   |   |                                                         | 103    |   |   |   | 103 |   |
| Total securities available-for-sale                 |   |                                                                                            | 5,217  |   |                                                                      |   | 52,290 |                                                                                 |   |   | 17,485                                                                               |   |   |                                                         | 12,889 |   |   |   | 87,881 |   |
| Securities held-to-maturity:                        |   |                                                                                            |   |   |                                                                      |   |   |                                                                                 |   |   |                                                                                 |   |   |                                                         |   |   |   |   |   |   |
|   U.S. government sponsored enterprises   |   |                                                                                            | ---    |   |                                                                      |   | 5,054  |                                                                                 |   |   | 2,036                                                                                |   |   |                                                         | ---    |   |   |   | 7,090 |   |
|   State and political subdivisions        |   |                                                                                            | 15,326 |   |                                                                      |   | 10,144 |                                                                                 |   |   | 4,817                                                                                |   |   |                                                         | 3,764  |   |   |   | 34,051 |   |
|   Mortgage-backed securities-residential  |   |                                                                                            | ---    |   |                                                                      |   | 2,641  |                                                                                 |   |   | 17,355                                                                               |   |   |                                                         | 16,974 |   |   |   | 36,970 |   |
|   Mortgage-backed securities-multi-family |   |                                                                                            | ---    |   |                                                                      |   | 1,529  |                                                                                 |   |   | 2,414                                                                                |   |   |                                                         | ---    |   |   |   | 3,943 |   |
|   Other securities                        |   |                                                                                            | 20     |   |                                                                      |   | 3      |                                                                                 |   |   | ---                                                                                  |   |   |                                                         | 350    |   |   |   | 373 |   |
| Total securities held-to-maturity                   |   |                                                                                            | 15,346 |   |                                                                      |   | 19,371 |                                                                                 |   |   | 26,622                                                                               |   |   |                                                         | 21,088 |   |   |   | 82,427 |   |
| Total securities                                    |   | $                                                                                               | 20,563 |   |                                                                      | $      | 71,661 |                                                                                 |   | $      | 44,107                                                                               |   |   | $                                                            | 33,977 |   |   | $ | 170,308 |   |

|                          |               | Fair Value Measurements Using         |
|-------------------------------|--------------------|---------------------------------------|
|                          |               |     Quoted Prices |     Significant |   Significant |
|                          |               |  In Active Markets               | Other Observable | Unobservable |
|                          |               | For Identical Assets                  | Inputs | Inputs |
| (In thousands)                | September 30, 2010 | (Level 1)                             | (Level 2) | (Level 3) |
| Assets:                       |               |                                  |   |   |
| Securities available-for-sale | $87,881            | $51,052                               | $36,829 | $--- |

|                          |          | Fair Value Measurements Using         |
|-------------------------------|---------------|---------------------------------------|
|                          |          |     Quoted Prices |     Significant |   Significant |
|                          |          |  In Active Markets               | Other Observable | Unobservable |
|                          |          | For Identical Assets                  | Inputs | Inputs |
| (In thousands)                | June 30, 2010 | (Level 1)                             | (Level 2) | (Level 3) |
| Assets:                       |          |                                  |   |   |
| Securities available-for-sale | $89,805       | $52,105                               | $37,700 | $--- |

| (in thousands)                    |   | September 30, 2010 |    |   | June 30, 2010 |   |
|-----------------------------------|--------|--------------------|---------|--------|---------------|--------|
|                              |   | Carrying           |    |   | Fair          |   |   | Carrying |   |   | Fair |   |
|                              |   | Amount             |    |   | Value         |   |   | Amount |   |   | Value |   |
| Cash and cash equivalents         |   | $                  | 39,029  |   |          | $      | 39,029 |   |   | $ | 9,643 |   |   | $ | 9,643 |   |
| Long term certificate of deposit  |   |               | 1,000   |   |          |   | 1,000 |   |   |   | 1,000 |   |   |   | 1,000 |   |
| Securities available-for-sale     |   |               | 87,881  |   |          |   | 87,881 |   |   |   | 89,805 |   |   |   | 89,805 |   |
| Securities held-to-maturity       |   |               | 80,475  |   |          |   | 82,427 |   |   |   | 77,520 |   |   |   | 78,982 |   |
| Federal Home Loan Bank stock      |   |               | 1,457   |   |          |   | 1,457 |   |   |   | 1,866 |   |   |   | 1,866 |   |
| Net loans                         |   |               | 299,394 |   |          |   | 305,840 |   |   |   | 295,582 |   |   |   | 300,395 |   |
| Accrued interest receivable       |   |               | 2,846   |   |          |   | 2,846 |   |   |   | 2,731 |   |   |   | 2,731 |   |
| Deposits                          |   |               | 463,444 |   |          |   | 464,483 |   |   |   | 421,732 |   |   |   | 422,693 |   |
| Federal Home Loan Bank borrowings |   |               | 17,000  |   |          |   | 17,739 |   |   |   | 26,100 |   |   |   | 26,791 |   |
| Accrued interest payable          |   |               | 105     |   |          |   | 105 |   |   |   | 109 |   |   |   | 109 |   |

|                                               |   |       |      |   |    Weighted    Average Number |   |                                  |                                       |   |
|----------------------------------------------------|--------|------------|-----------|--------|--------------------------------------------------------|--------|---------------------------------------|--------------------------------------------|--------|
|                                               |   | Net Income |      |   | Of Shares Outstanding                                  |   |                                  | Earnings per Share     |   |
| Three months ended                                 |   |       |      |   |                                                   |   |                                  |                                       |   |
| September 30, 2010                                 |   | $          | 1,324,000 |   |                                                   |   |                                  |                                       |   |   |
|    Basic                            |   |       |      |   |                                                   |   | 4,121,299                             |                                       |   | $ | 0.32 |   |
|    Effect of dilutive stock options |   |       |      |   |                                                   |   |       30,783 |                                       |   |   | (0.00 | ) |
|    Diluted                          |   |       |      |   |                                                   |   | 4,152,082                             |                                       |   | $ | 0.32 |   |
|                                               |   |       |      |   |                                                   |   |                                  |                                       |   |   |   |   |
| Three months ended                                 |   |       |      |   |                                                   |   |                                  |                                       |   |   |   |   |
| September 30, 2009                                 |   | $          | 1,184,000 |   |                                                   |   |                                  |                                       |   |   |   |   |
|    Basic                            |   |       |      |   |                                                   |   | 4,105,312                             |                                       |   | $ | 0.29 |   |
|    Effect of dilutive stock options |   |       |      |   |                                                   |   |      27,454  |                                       |   |   | (0.00 | ) |
|    Diluted                          |   |       |      |   |                                                   |   | 4,132,766                             |                                       |   | $ | 0.29 |   |

|                                  |   | Three months ended September 30, |   |
|---------------------------------------|--------|----------------------------------|--------|
| (in thousands)                        |   | 2010                             |   |   | 2009 |   |
| Interest cost                         |   | $                                | 51     |   |   | $ | 52 |   |
| Expected return on plan assets        |   |                             | (55    | ) |   |   | (55 | ) |
| Amortization of net loss              |   |                             | 8      |   |   |   | 2 |   |
|   Net periodic pension cost |   | $                                | 4      |   |   | $ | (1 | ) |

|                             |   | 2010   |    |   | 2009             |   |
|----------------------------------|--------|--------|---------|--------|------------------|--------|
|                             |   |   |    |   | 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                        |   |   | (4,333  | )      |             |   | 12.50 |   |   |   | --- |   |   |   | --- |   |
| Outstanding at period end        |   |   | 167,417 |   |             | $      | 12.36 |   |   |   | 196,660 |   |   | $ | 11.33 |   |
| Exercisable at period end        |   |   | 112,587 |   |             | $      | 12.29 |   |   |   | 86,995 |   |   | $ |   9.85 |   |

| Options Outstanding and Exercisable |        |
|-------------------------------------|-------------|
| Range of Exercise Prices            |        |   | Number Outstanding |   |   | Weighted Average Remaining Contractual Life |   |   | Weighted Average Exercise Price |   |
| $                                   | 9.20        |   |   |   |     7,250 |   |   |   | 0.50 |   |   | $ | 9.20 |   |
| $                                   | 12.50       |   |   |   | 105,337 |   |   |   | 8.00 |   |   | $ | 12.50 |   |
| $                                   | 9.20-$12.50 |   |   |   | 112,587 |   |   |   |   |   |   | $ | 12.29 |   |

| (in thousands)                                                                         |   |                                        |   |   |          |   |
|----------------------------------------------------------------------------------------|--------|---------------------------------------------|--------|--------|---------------|--------|
| Accumulated other comprehensive income                                                 |   |      September 30, 2010 |   |   | June 30, 2010 |   |
|   Unrealized gains on available-for-sale securities, net of tax              |   | $                                           | 2,140  |   |          | $      | 1,841 |   |
|   Unrealized loss on securities transferred to held-to-maturity, net of tax  |   |                                        | (103   | )      |          |   | (116 | ) |
|   Net losses and past service liability for defined benefit plan, net of tax |   |                                        | (599   | )      |          |   | (602 | ) |
| Accumulated other comprehensive income                                                 |   | $                                           | 1,438  |   |          | $      | 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  |    |
|----------------------------------------------------|--------|--------------------|---------|
|                                               |   | September 30, 2010 |    |   | June 30, 2010 |   |
| (Dollars in thousands)                             |   | Balance            |    |   | Percentageof Portfolio |   |   | Balance |   |   | Percentageof Portfolio |   |
|                                               |
| Securities available-for-sale:                     |   |               |    |   |   |   |   |   |   |   |   |   |
|   U.S. government sponsored enterprises  |   | $                  | 22,785  |   |   |   | 13.5 | % |   | $ | 22,176 |   |   |   | 13.3 | % |
|   State and political subdivisions       |   |               | 8,237   |   |   |   | 4.9 |   |   |   | 8,749 |   |   |   | 5.2 |   |
|   Mortgage-backed securities-residential |   |               | 23,739  |   |   |   | 14.1 |   |   |   | 25,883 |   |   |   | 15.5 |   |
|   Mortgage-backed securities-multifamily |   |               | 25,702  |   |   |   | 15.3 |   |   |   | 25,932 |   |   |   | 15.5 |   |
|   Asset-backed securities                |   |               | 31      |   |   |   | 0.0 |   |   |   | 32 |   |   |   | 0.0 |   |
|   Corporate debt securities              |   |               | 7,284   |   |   |   | 4.3 |   |   |   | 6,931 |   |   |   | 4.1 |   |
| Total debt securities                              |   |               | 87,778  |   |   |   | 52.1 |   |   |   | 89,703 |   |   |   | 53.6 |   |
|   Equity securities and other            |   |               | 103     |   |   |   | 0.1 |   |   |   | 102 |   |   |   | 0.1 |   |
| Total securities available-for-sale                |   |               | 87,881  |   |   |   | 52.2 |   |   |   | 89,805 |   |   |   | 53.7 |   |
| Securities held-to-maturity:                       |   |               |    |   |   |   |   |   |   |   |   |   |   |   |   |   |
|   U.S. government sponsored enterprises  |   |               | 7,002   |   |   |   | 4.2 |   |   |   | 7,004 |   |   |   | 4.2 |   |
|   State and political subdivisions       |   |               | 33,917  |   |   |   | 20.2 |   |   |   | 29,821 |   |   |   | 17.8 |   |
|   Mortgage-backed securities-residential |   |               | 35,255  |   |   |   | 20.9 |   |   |   | 36,277 |   |   |   | 21.7 |   |
|   Mortgage-backed securities-multifamily |   |               | 3,928   |   |   |   | 2.3 |   |   |   | 4,058 |   |   |   | 2.4 |   |
|   Other securities                       |   |               | 373     |   |   |   | 0.2 |   |   |   | 360 |   |   |   | 0.2 |   |
| Total securities held-to-maturity                  |   |               | 80,475  |   |   |   | 47.8 |   |   |   | 77,520 |   |   |   | 46.3 |   |
| Total securities                                   |   | $                  | 168,356 |   |   |   | 100.0 | % |   | $ | 167,325 |   |   |   | 100.0 | % |

|                                     |   |               |    |
|------------------------------------------|--------|--------------------|---------|
|                                     |   | September 30, 2010 |    |   | June 30, 2010 |   |
| (Dollars in  thousands)        |   | Balance            |    |   | Percentageof Portfolio |   |   | Balance |   |   | Percentageof Portfolio |   |
|                                     |   |               |    |   |   |   |   |   |   |   |   |   |
| Real estate mortgages:                   |   |               |    |   |   |   |   |   |   |   |   |   |
|    Residential            |   | $                  | 183,339 |   |   |   | 60.5 | % |   | $ | 182,525 |   |   |   | 61.0 | % |
|    Commercial             |   |               | 56,607  |   |   |   | 18.7 |   |   |   | 54,586 |   |   |   | 18.3 |   |
|    Construction and land  |   |               | 9,280   |   |   |   | 3.0 |   |   |   | 9,357 |   |   |   | 3.1 |   |
|    Multifamily            |   |               | 5,983   |   |   |   | 2.0 |   |   |   | 6,035 |   |   |   | 2.0 |   |
| Total real estate mortgages              |   |               | 255,209 |   |   |   | 84.2 |   |   |   | 252,503 |   |   |   | 84.4 |   |
| Home equity loans                        |   |               | 27,158  |   |   |   | 8.9 |   |   |   | 26,602 |   |   |   | 8.9 |   |
| Commercial loans                         |   |               | 16,638  |   |   |   | 5.5 |   |   |   | 15,810 |   |   |   | 5.3 |   |
| Installment loans                        |   |               | 3,888   |   |   |   | 1.3 |   |   |   | 3,892 |   |   |   | 1.3 |   |
| Passbook loans                           |   |               | 396     |   |   |   | 0.1 |   |   |   | 393 |   |   |   | 0.1 |   |
| Total gross loans                        |   |               | 303,289 |   |   |   | 100.0 | % |   |   | 299,200 |   |   |   | 100.0 | % |
| Unearned origination fees and costs, net |   |               | 443     |   |   |   |   |   |   |   | 406 |   |   |   |   |   |
| Allowance for loan losses                |   |               | (4,338  | ) |   |   |   |   |   |   | (4,024 | ) |   |   |   |   |
| Total net loans                          |   | $                  | 299,394 |   |   |   |   |   |   | $ | 295,582 |   |   |   |   |   |

| (Dollars in thousands)                                           |   | Three months ended |   |
|------------------------------------------------------------------|--------|--------------------|--------|
|                                                             |   | September 30, 2010 |   |   | September 30, 2009 |   |
|                                                             |   |               |   |   |   |   |
| Balance at the beginning of the period                           |   | $                  | 4,024  |   |   | $ | 3,420 |   |
| Charge-offs:                                                     |   |               |   |   |   |   |   |   |
|      Commercial loans                   |   |               | 2      |   |   |   | 8 |   |
|      Installment loans                  |   |               | 17     |   |   |   | 9 |   |
|      Overdraft protection accounts      |   |               | 44     |   |   |   | 48 |   |
| Total loans charged off                                          |   |               | 63     |   |   |   | 65 |   |
|                                                             |   |               |   |   |   |   |   |   |
| Recoveries:                                                      |   |               |   |   |   |   |   |   |
|      Commercial loans                   |   |               | 5      |   |   |   | -- |   |
|      Installment loans                  |   |               | 3      |   |   |   | 3 |   |
|      Overdraft protection accounts      |   |               | 16     |   |   |   | 26 |   |
| Total recoveries                                                 |   |               | 24     |   |   |   | 29 |   |
|                                                             |   |               |   |   |   |   |   |   |
| Net charge-offs                                                  |   |               | 39     |   |   |   | 36 |   |
|                                                             |   |               |   |   |   |   |   |   |
| Provisions charged to operations                                 |   |               | 353    |   |   |   | 248 |   |
| Balance at the end of the period                                 |   | $                  | 4,338  |   |   | $ | 3,632 |   |
|                                                             |   |               |   |   |   |   |   |   |
| Ratio of annualized net charge-offs to average loans outstanding |   |               | 0.05   | % |   |   | 0.05 | % |
| Ratio of annualized net charge-offs to nonperforming assets      |   |               | 3.01   | % |   |   | 3.50 | % |
| Allowance for loan losses to nonperforming loans                 |   |               | 86.99  | % |   |   | 88.24 | % |
| Allowance for loan losses to total loans receivable              |   |               | 1.43   | % |   |   | 1.30 | % |

|                                                                                    |   | At                 |   |
|-----------------------------------------------------------------------------------------|--------|--------------------|--------|
| (Dollars in thousands)                                                                  |   | September 30, 2010 |   |   | June 30, 2010 |   |
| Nonaccrual loans:                                                                       |   |               |   |   |   |   |
|      Real estate mortgages:                                    |   |               |   |   |   |   |
|            Residential           |   | $                  | 2,488  |   |   | $ | 2,001 |   |
|            Commercial            |   |               | 1,570  |   |   |   | 1,095 |   |
|            Construction and land |   |               | 13     |   |   |   | 13 |   |
|            Multifamily           |   |               | 590    |   |   |   | 594 |   |
|      Home equity loans                                         |   |               | 220    |   |   |   | 197 |   |
|      Commercial loans                                          |   |               | 82     |   |   |   | 3 |   |
|      Installment loans                                         |   |               | 24     |   |   |   | 18 |   |
| Total nonaccrual loans                                                                  |   |               | 4,987  |   |   |   | 3,921 |   |
| Foreclosed real estate:                                                                 |   |               |   |   |   |   |   |   |
|      Multifamily                                               |   |               | 200    |   |   |   | --- |   |
| Foreclosed real estate                                                                  |   |               | 200    |   |   |   | --- |   |
| Total nonperforming assets                                                              |   | $                  | 5,186  |   |   | $ | 3,921 |   |
|                                                                                    |   |               |   |   |   |   |   |   |
| Total nonperforming assets as a percentage of total assets                              |   |               | 0.98   | % |   |   | 0.79 | % |
| Total nonperforming loans to total loans                                                |   |               | 1.67   | % |   |   | 1.33 | % |

| (In thousands)                                                                                               |   | 2010   |   |   | 2009   |   |
|--------------------------------------------------------------------------------------------------------------|--------|--------|--------|--------|--------|--------|
| Interest income that would have been recorded if loans had been performing in accordance with original terms |   | $      | 271    |   |   | $      | 199 |   |
| Interest income that was recorded on nonaccrual loans during the quarter  ended                    |   |   | 54     |   |   |   | 22 |   |

| (In thousands)                                                             |   | 2010   |   |   | 2009   |   |
|----------------------------------------------------------------------------|--------|--------|--------|--------|--------|--------|
| Balance of impaired loans, with a valuation allowance                      |   | $      | ---    |   |   | $      | 98 |   |
| Allowance relating to impaired loans included in allowance for loan losses |   |   | ---    |   |   |   | 10 |   |
| Balance of impaired loans, without a valuation allowance                   |   |   | 212    |   |   |   | --- |   |
| Average balance of impaired loans for the quarter ended                    |   |   | 212    |   |   |   | 98 |   |
| Interest income recorded on impaired loans during the quarter ended        |   |   | 1      |   |   |   | 1 |   |

| (Dollars in thousands)       |   |                                                               |    |   |                   |   |   |                                                                   |   |   |                   |   |
|------------------------------|--------|--------------------------------------------------------------------|---------|--------|------------------------|--------|--------|------------------------------------------------------------------------|--------|--------|------------------------|--------|
|                         |   | At          Sept. 30, 2010 |    |   | Percentageof Portfolio |   |   | At          June 30, 2010 |   |   | Percentageof Portfolio |   |
|                         |   |                                                               |    |   |                   |   |   |                                                                   |   |   |                   |   |
| Noninterest bearing deposits |   | $                                                                  | 49,060  |   |                   |   | 10.6   | %                                                                      |   | $      | 44,239                 |   |   |   | 10.5 | % |
| Certificates of deposit      |   |                                                               | 98,068  |   |                   |   | 21.2   |                                                                   |   |   | 96,909                 |   |   |   | 23.0 |   |
| Savings deposits             |   |                                                               | 94,868  |   |                   |   | 20.5   |                                                                   |   |   | 95,249                 |   |   |   | 22.6 |   |
| Money market deposits        |   |                                                               | 64,501  |   |                   |   | 13.8   |                                                                   |   |   | 63,899                 |   |   |   | 15.1 |   |
| NOW deposits                 |   |                                                               | 156,947 |   |                   |   | 33.9   |                                                                   |   |   | 121,436                |   |   |   | 28.8 |   |
| Total deposits               |   | $                                                                  | 463,444 |   |                   |   | 100.0  | %                                                                      |   | $      | 421,732                |   |   |   | 100.0 | % |

| (In thousands)  |   |   |   |
|-----------------|--------|--------|--------|
| Fiscal year end |   |   |   |
| 2011            |   | $      | 5,000  |   |
| 2012            |   |   | 3,000  |   |
| 2013            |   |   | 1,000  |   |
| 2014            |   |   | 6,000  |   |
| 2015            |   |   | 2,000  |   |
|            |   | $      | 17,000 |   |

----

| (Dollars in thousands)                                                  |   | 2010       |    |   | 2010    |   |   | 2010     |   |   |  2009       |   |   | 2009    |    |   | 2009     |   |
|-------------------------------------------------------------------------|--------|-------------------------------------|---------|--------|------------------------|--------|--------|------------------------------|--------|--------|-------------------------------------------|--------|--------|------------------------|---------|--------|------------------------------|--------|
|                                                                    |   | Average                        |    |   | Interest               |   |   | Average                      |   |   | Average                         |   |   | Interest               |    |   | Average                      |   |
|                                                                    |   | Outstanding                         |    |   | Earned/                |   |   | Yield/        |   |   | Outstanding                               |   |   | Earned/                |    |   | Yield/        |   |
|                                                                    |   | Balance              |    |   | Paid    |   |   | Rate     |   |   | Balance               |   |   | Paid         |    |   | Rate     |   |
| Interest earning assets:                                                |   |                                |    |   |                   |   |   |                         |   |   |                                      |   |   |                   |    |   |                         |   |
|    Loans receivable, net1                                |   | $                                   | 300,888 |   |                   | $      | 4,537  |                         |   |   | 6.03                                      | %      |   | $                      | 275,560 |   |                         | $      | 4,167 |   |   |   | 6.05 | % |
|    Securities2                                           |   |                                | 168,283 |   |                   |   | 1,420  |                         |   |   | 3.38                                      |   |   |                   | 161,041 |   |                         |   | 1,464 |   |   |   | 3.64 |   |
|    Federal funds                                         |   |                                | 1,063   |   |                   |   | --     |                         |   |   | 0.00                                      |   |   |                   | 2,746   |   |                         |   | 1 |   |   |   | 0.14 |   |
|    Interest bearing bank balances                        |   |                                | 3,114   |   |                   |   | 2      |                         |   |   | 0.26                                      |   |   |                   | 1,926   |   |                         |   | 3 |   |   |   | 0.62 |   |
|    FHLB stock                                            |   |                                | 1,611   |   |                   |   | 17     |                         |   |   | 4.22                                      |   |   |                   | 1,495   |   |                         |   | 21 |   |   |   | 5.62 |   |
|        Total interest earning assets |   |                                | 474,959 |   |                   |   | 5,976  |                         |   |   | 5.03                                      | %      |   |                   | 442,768 |   |                         |   | 5,656 |   |   |   | 5.11 | % |
| Cash and due from banks                                                 |   |                                | 7,244   |   |                   |   |   |                         |   |   |                                      |   |   |                   | 7,402   |   |                         |   |   |   |   |   |   |   |
| Allowance for loan losses                                               |   |                                | (4,094  | )      |                   |   |   |                         |   |   |                                      |   |   |                   | (3,489  | )      |                         |   |   |   |   |   |   |   |
| Other non-interest earning assets                                       |   |                                | 18,189  |   |                   |   |   |                         |   |   |                                      |   |   |                   | 17,829  |   |                         |   |   |   |   |   |   |   |
|      Total assets                              |   | $                                   | 496,298 |   |                   |   |   |                         |   |   |                                      |   |   | $                      | 464,510 |   |                         |   |   |   |   |   |   |   |
|                                                                    |   |                                |    |   |                   |   |   |                         |   |   |                                      |   |   |                   |    |   |                         |   |   |   |   |   |   |   |
| Interest bearing liabilities:                                           |   |                                |    |   |                   |   |   |                         |   |   |                                      |   |   |                   |    |   |                         |   |   |   |   |   |   |   |
|    Savings and money market deposits                     |   | $                                   | 161,034 |   |                   | $      | 298    |                         |   |   | 0.74                                      | %      |   | $                      | 146,851 |   |                         | $      | 307 |   |   |   | 0.84 | % |
|    NOW deposits                                          |   |                                | 125,702 |   |                   |   | 238    |                         |   |   | 0.76                                      |   |   |                   | 115,925 |   |                         |   | 364 |   |   |   | 1.26 |   |
|    Certificates of deposit                               |   |                                | 97,505  |   |                   |   | 494    |                         |   |   | 2.03                                      |   |   |                   | 98,022  |   |                         |   | 579 |   |   |   | 2.36 |   |
|    Borrowings                                            |   |                                | 20,423  |   |                   |   | 149    |                         |   |   | 2.92                                      |   |   |                   | 21,291  |   |                         |   | 167 |   |   |   | 3.14 |   |
|       Total interest bearing liabilities  |   |                                | 404,664 |   |                   |   | 1,179  |                         |   |   | 1.16                                      | %      |   |                   | 382,089 |   |                         |   | 1,417 |   |   |   | 1.48 | % |
| Non-interest bearing deposits                                           |   |                                | 44,012  |   |                   |   |   |                         |   |   |                                      |   |   |                   | 39,355  |   |                         |   |   |   |   |   |   |   |
| Other non-interest bearing liabilities                                  |   |                                | 2,375   |   |                   |   |   |                         |   |   |                                      |   |   |                   | 2,215   |   |                         |   |   |   |   |   |   |   |
| Shareholders’ equity                                              |   |                                | 45,247  |   |                   |   |   |                         |   |   |                                      |   |   |                   | 40,851  |   |                         |   |   |   |   |   |   |   |
|      Total liabilities and equity              |   | $                                   | 496,298 |   |                   |   |   |                         |   |   |                                      |   |   | $                      | 464,510 |   |                         |   |   |   |   |   |   |   |
|                                                                    |   |                                |    |   |                   |   |   |                         |   |   |                                      |   |   |                   |    |   |                         |   |   |   |   |   |   |   |
| Net interest income                                                     |   |                                |    |   |                   | $      | 4,797  |                         |   |   |                                      |   |   |                   |    |   |                         | $      | 4,239 |   |   |   |   |   |
|                                                                    |   |                                |    |   |                   |   |   |                         |   |   |                                      |   |   |                   |    |   |                         |   |   |   |   |   |   |   |
| Net interest rate spread                                                |   |                                |    |   |                   |   |   |                         |   |   | 3.87                                      | %      |   |                   |    |   |                         |   |   |   |   |   | 3.63 | % |
|                                                                    |   |                                |    |   |                   |   |   |                         |   |   |                                      |   |   |                   |    |   |                         |   |   |   |   |   |   |   |
| Net Earning Assets                                                      |   | $                                   | 70,295  |   |                   |   |   |                         |   |   |                                      |   |   | $                      | 60,679  |   |                         |   |   |   |   |   |   |   |
|                                                                    |   |                                |    |   |                   |   |   |                         |   |   |                                      |   |   |                   |    |   |                         |   |   |   |   |   |   |   |
| Net interest margin                                                     |   |                                |    |   |                   |   |   |                         |   |   | 4.04                                      | %      |   |                   |    |   |                         |   |   |   |   |   | 3.83 | % |
|                                                                    |   |                                |    |   |                   |   |   |                         |   |   |                                      |   |   |                   |    |   |                         |   |   |   |   |   |   |   |
| Average interest earning assets to                                      |   |                                |    |   |                   |   |   |                         |   |   |                                      |   |   |                   |    |   |                         |   |   |   |   |   |   |   |
| average interest bearing liabilities                                    |   |                                |    |   |                   |   |   |                         |   |   | 117.37                                    | %      |   |                   |    |   |                         |   |   |   |   |   | 115.88 | % |

----

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

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

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

|                                                |   | Three MonthsEnded September 30, |   |
|-----------------------------------------------------|--------|---------------------------------|--------|
| (In thousands)                                      |   | 2010 versus 2009                |   |
|                                                |   |                            |   |   |   |   |   |   |   |
|                                                |   | Increase/(Decrease)             |   |   | Total      |   |
|                                                |   | Due to                          |   |   | Increase/ |   |
| Interest-earning assets:                            |   | Volume                          |   |   | Rate |   |   | (Decrease) |   |
|  Loans receivable, net1                        |   | $                               | 384    |   |   | $ | (14 | ) |   | $ | 370 |   |
|  Securities2                                   |   |                            | 64     |   |   |   | (108 | ) |   |   | (44 | ) |
|  Federal funds                                 |   |                            | (0     | ) |   |   | (1 | ) |   |   | (1 | ) |
|  Interest-bearing bank balances                |   |                            | 1      |   |   |   | (2 | ) |   |   | (1 | ) |
|  FHLB stock                                    |   |                            | 2      |   |   |   | (6 | ) |   |   | (4 | ) |
| Total interest earning assets                       |   |                            | 451    |   |   |   | (131 | ) |   |   | 320 |   |
|                                                |   |                            |   |   |   |   |   |   |   |   |   |   |
| Interest-bearing liabilities:                       |   |                            |   |   |   |   |   |   |   |   |   |   |
|    Savings and money market deposits |   |                            | 29     |   |   |   | (38 | ) |   |   | (9 | ) |
|    NOW deposits                      |   |                            | 29     |   |   |   | (155 | ) |   |   | (126 | ) |
|    Certificates of deposit           |   |                            | (3     | ) |   |   | (82 | ) |   |   | (85 | ) |
|    Borrowings                        |   |                            | (7     | ) |   |   | (11 | ) |   |   | (18 | ) |
| Total interest bearing liabilities                  |   |                            | 48     |   |   |   | (286 | ) |   |   | (238 | ) |
| Net interest income                                 |   | $                               | 403    |   |   | $ | 155 |   |   | $ | 558 |   |

----

Item 3.    

Item 4T.   

----

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

----