Annual Report 2024

($000’s) 2024 2023 Interest and dividend income: Loans, including fees $21,332 $18,207 Securities 5,929 3,330 Short-term investments 2,970 3,557 Total interest and dividend income 30,231 25,094 Interest expense: Deposits 6,837 2,033 Borrowings 120 144 Total interest expense 6,957 2,177 Net interest income 23,274 22,917 Provision (credit) for credit losses 306 (103) Net interest income, after provision (credit) for credit losses 22,968 23,020 Non-interest income: Customer service fees 1,590 1,592 Gain on sales of loans, net 71 75 Loan servicing fees 42 50 Bank-owned life insurance income 493 463 Miscellaneous 138 201 Total non-interest income 2,334 2,381 Non-interest expenses: Salaries and employee benefits 10,391 9,547 Occupancy and equipment 1,337 1,348 Data processing 881 753 Professional fees 451 424 FDIC insurance 376 217 Advertising 459 378 Other general and administrative 3,529 3,523 Total non-interest expenses 17,424 16,190 Income before income taxes 7,878 9,211 Provision for income taxes 1,423 2,212 Net income $6,455 $6,999 Greenfield Bancorp, MHC and Subsidiary Unaudited Consolidated Statement of Operations For the Years EndedMarch 31, 2024 and March 31, 2023