# EDGAR Filing Document

**Accession Number:** 0001978811
**File Stem:** 0001104659-25-076932
**Filing Date:** 2025-8
**Character Count:** 13163
**Document Hash:** 7143c522d103fedcb41b2a4450508d41
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001104659-25-076932.hdr.sgml**: 20250812

**ACCESSION NUMBER**: 0001104659-25-076932

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 13

**CONFORMED PERIOD OF REPORT**: 20250812

**ITEM INFORMATION**: Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20250812

**DATE AS OF CHANGE**: 20250812

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Gouverneur Bancorp, Inc./MD/
- **CENTRAL INDEX KEY:** 0001978811
- **STANDARD INDUSTRIAL CLASSIFICATION:** SAVINGS INSTITUTIONS, NOT FEDERALLY CHARTERED [6036]
- **ORGANIZATION NAME:** 02 Finance
- **EIN:** 000000000
- **STATE OF INCORPORATION:** MD
- **FISCAL YEAR END:** 0930

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 000-56605
- **FILM NUMBER:** 251208017

**BUSINESS ADDRESS:**
- **STREET 1:** 42 CHURCH STREET
- **CITY:** GOUVERNEUR
- **STATE:** NY
- **ZIP:** 13642
- **BUSINESS PHONE:** 315-287-2600

**MAIL ADDRESS:**
- **STREET 1:** 42 CHURCH STREET
- **CITY:** GOUVERNEUR
- **STATE:** NY
- **ZIP:** 13642

?xml version='1.0' encoding='ASCII'?

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**Washington, DC 20549**

**FORM 8-K**

**CURRENT REPORT**

**Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934**

Date of Report (Date of earliest event reported): August 12, 2025

<u>GOUVERNEUR BANCORP, INC.</u>

(Exact Name of Registrant as Specified in Its Charter)

Maryland <u>000-56605</u> <u>37-2102925</u> <br> (State or other jurisdiction of incorporation or organization) (Commission File Number) (IRS Employer Identification No.)

<u>42 Church Street, Gouverneur, New York 13642</u>

(Address of principal executive offices) (Zip Code)

<u>(315) 287-2600</u>

(Registrant's telephone number, including area code)

<u>Not Applicable</u>

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

◻ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

◻ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

◻ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

◻ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

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| &nbsp;&nbsp;Title of each class | &nbsp;&nbsp;Trading symbol(s) | &nbsp;&nbsp;Name of each exchange on which registered |

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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2).

Emerging growth company ⌧

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ◻

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| **Item 5.02** | **<u>Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers</u>.** |

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On August 12, 2025, Gouverneur Bancorp, Inc. (the "Company"), the holding company for Gouverneur Savings and Loan Association (the "Bank"), announced that the Board of Directors of the Company and the Bank has appointed Stephen M. Jefferies as the President and Chief Executive Officer of the Company and the Bank, and as a member of the Board of Directors of the Company and the Bank, effective as of September 2, 2025.

Mr. Jefferies, age 61, served as President and Chief Executive Officer of Community Bank & Trust, located in LaGrange, Georgia, from March 2022 to April 2025. Prior to that time, Mr. Jefferies was the Chief Lending Officer at U.S. Eagle Federal Credit Union, located in Albuquerque, New Mexico, from April 2017 to March 2022. Mr. Jefferies also served as Senior Vice President and Chief Lending Officer of Flagship Community Bank, located in Clearwater, Florida, from June 2005 to April 2017, and in various roles at other financial institutions from July 1986 to June 2005.

In connection with his appointment as President and Chief Executive Officer, Mr. Jefferies will receive an annual base salary of $250,000 and will be eligible to participate in benefit plans and arrangements generally made available to the Company's and Bank's executive management team. In addition, Mr. Jefferies will also receive an initial grant of 10,000 stock options and 4,000 shares of Company restricted stock, to be granted within six months of his start date, which will vest over a five-year period subject to Mr. Jefferies' continued employment with the Company and the Bank.

In connection with his appointment as a director of the Company and the Bank, Mr. Jefferies will receive the Company's standard director compensation, which currently consists of a $27,600 annual cash retainer. Mr. Jefferies was not appointed to serve on any committees of the Board of Directors of the Company or the Bank in connection with his appointment as a director of the Company and the Bank.

There are no family relationships between Mr. Jefferies and any director or executive officer of the Company, and there are no arrangements or understandings with any person pursuant to which Mr. Jefferies has been selected to serve as President and Chief Executive Officer, or as a director, of the Company and the Bank. Except as set forth above, there have been no transactions directly or indirectly involving Mr. Jefferies that would be required to be disclosed pursuant to Item 404(a) of Regulation S-K of the Securities and Exchange Commission.

Concurrent with the appointment of Mr. Jefferies as President and Chief Executive Officer of the Company and the Bank, Charles C. Van Vleet, Jr. notified the Board of Directors that he will retire as Interim President and Chief Executive Officer of the Company and the Bank, effective as of September 2, 2025. Mr. Van Vleet currently intends to remain with the Company and the Bank through December 31, 2025, or such other date as is mutually determined by Mr. Van Vleet and the Company, and will work closely with Mr. Jefferies during the transition period.

A copy of the Company's press release announcing Mr. Jefferies' appointment as President and Chief Executive Officer, and as director, of the Company and the Bank is included as Exhibit 99.1 hereto and is incorporated herein by reference.

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| **Item 9.01** | **<u>Financial Statements and Other Exhibits</u>.** |

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&nbsp;&nbsp;&nbsp;&nbsp;(d) Exhibits

<u>Number</u> <u>Description</u> <br> [99.1](tm2523284d1_ex99-1.htm) [Press Release dated August 12, 2025](tm2523284d1_ex99-1.htm) <br> 104 Cover Page Interactive Data File (embedded within the Inline XBRL document)

**SIGNATURE**

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this Report to be signed on its behalf by the undersigned thereunto duly authorized.

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|:---|:---|:---|
|  | GOUVERNEUR BANCORP, INC. | GOUVERNEUR BANCORP, INC. |
| Date: August 12, 2025 | By: | /s/ James D. Campanaro |
|  |  | James D. Campanaro |
|  |  | Vice President and Chief Financial Officer |

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## Exhibit 99.1

**Exhibit 99.1**

**FOR IMMEDIATE RELEASE**

CONTACT: Charles C. Van Vleet, Jr. <br> Interim President and Chief Executive Officer <br> (315) 287-2600

**GOUVERNEUR BANCORP, INC.** 

**ANNOUNCES APPOINTMENT OF NEW** 

**PRESIDENT AND CHIEF EXECUTIVE OFFICER**

Gouverneur, New York, August 12, 2025 — Gouverneur Bancorp, Inc. (OTCQB Marketplace: GOVB) (the "Company"), the holding company for Gouverneur Savings and Loan Association (the "Bank"), announced today that the Board of Directors of the Company and the Bank has appointed Stephen M. Jefferies as the President and Chief Executive Officer of the Company and the Bank, and as a member of the Board of Directors of the Company and the Bank, effective as of September 2, 2025.

Mr. Jefferies has served as President and Chief Executive Officer of Community Bank & Trust, located in LaGrange, Georgia, from March 2022 to April 2025. Prior to that time, Mr. Jefferies was the Chief Lending Officer at U.S. Eagle Federal Credit Union, located in Albuquerque, New Mexico, from April 2017 to March 2022. Mr. Jefferies also served as Senior Vice President and Chief Lending Officer of Flagship Community Bank, located in Clearwater, Florida, from June 2005 to April 2017, and in various roles at other financial institutions from July 1986 to June 2005.

"Steve brings nearly 40 years of experience in the banking industry, and a proven track record of financial leadership, and we are excited to welcome him as our next President and Chief Executive Officer," said Clara P. Cummings, Chair of the Board of Directors. Mr. Jefferies added, "I am honored to assume the role of President and Chief Executive Officer and for the opportunity to lead an exceptional management team and work with, and for, our employees and stockholders going forward."

Concurrent with the appointment of Mr. Jefferies as President and Chief Executive Officer of the Company and the Bank, Charles C. Van Vleet, Jr. notified the Board of Directors that he will retire as Interim President and Chief Executive Officer of the Company and the Bank, effective as of September 2, 2025. Mr. Van Vleet currently intends to remain with the Company and the Bank through December 31, 2025, or such other date as is mutually determined by Mr. Van Vleet and the Company, and will work closely with Mr. Jefferies during the transition period.

"On behalf of the entire Board of Directors and executive management team, I also extend my deepest gratitude and appreciation to Chuck Van Vleet for his three decades of dedicated service to the Bank. Chuck's leadership and expertise have been instrumental to the success of the Company and the Bank and we wish him all the best on his well-deserved retirement," Ms. Cummings continued.

**<u>About Gouverneur Bancorp, Inc.</u>**

Gouverneur Bancorp, Inc. is the holding company for Gouverneur Savings and Loan Association, which is a New York chartered savings and loan association founded in 1892 that offers deposit and loan services for businesses, families and individuals. At June 30, 2025, the Company had total assets of $196.7 million, total deposits of $159.4 million and total stockholders' equity of $31.4 million.

**<u>Forward-Looking Statements</u>**

This press release may contain forward-looking statements, which can be identified by the use of words such as "believes," "expects," "anticipates," "estimates" or similar expressions. Such forward-looking statements and all other statements that are not historic facts are subject to risks and uncertainties which could cause actual results to differ materially from those currently anticipated due to a number of factors. These factors include, among others, the following: changes in interest rates; national and regional economic conditions; legislative and regulatory changes; monetary and fiscal policies of the U.S. government, including policies of the U.S. Treasury and the Federal Reserve Board; the impacts of tariffs, sanctions and other trade policies of the United States and its global trading counterparts; the size, quality and composition of the loan or investment portfolios; demand for loan products; deposit flows and our ability to effectively manage liquidity; competition; demand for financial services in our market area; changes in real estate market values in our market area; changes in relevant accounting principles and guidelines; our ability to attract and retain key employees; our ability to maintain the security of our data processing and information technology systems; and that the Company may not be successful in the implementation of its business strategy. Additionally, other risks and uncertainties are described in the Company's Annual Report on Form 10-K for the year ended September 30, 2024 and other reports the Company files with the SEC, which are available through the SEC's EDGAR website located at www.sec.gov. These risks and uncertainties should be considered in evaluating forward-looking statements and undue reliance should not be placed on such statements. Should one or more of these risks materialize, actual results may vary from those anticipated, estimated or projected.

Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Except as may be required by applicable law or regulation, the Company assumes no obligation to update any forward-looking statements.