GOUVERNEUR, N.Y. - Gouverneur Bancorp, Inc. (OTCQB:GOVB), the holding company for Gouverneur Savings and Loan Association, announced today the appointment of Robert W. Barlow as President and Chief Executive Officer. Charles C. Van Vleet, Jr., the former President and CEO, will continue to lead GS&L Municipal Bank, a subsidiary of the Bank, and support Barlow's transition.
Barlow brings extensive experience in the financial sector to his new role, having most recently served as Vice President of Commercial and Residential Lending at Northern Credit Union in Watertown, New York, since September 2019. His career also includes positions at SeaComm Federal Credit Union and First Niagara Bank, N.A., showcasing a strong background in business lending and branch management.
Van Vleet expressed confidence in Barlow's leadership abilities, stating, "We are delighted that Rob Barlow has agreed to join the Company and the Bank." In response, Barlow shared his enthusiasm for leading the local community bank, citing his familiarity with the market and gratitude for the opportunity to guide the management team.
Gouverneur Bancorp, Inc., founded in 1892, provides deposit and loan services to businesses, individuals, and families. As of December 31, 2023, the company reported total assets of $204.9 million, total deposits of $160.3 million, and total stockholders' equity of $32.1 million.
The press release includes forward-looking statements regarding the integration of acquired entities and expected cost savings from mergers and acquisitions. However, these statements are subject to various risks and uncertainties that could affect the company's actual results.
This news article is based on a press release statement from Gouverneur Bancorp, Inc.
InvestingPro Insights
Following the recent leadership changes at Gouverneur Bancorp, Inc. (OTCQB:GOVB), investors may be looking closely at the financial health and market performance of the company.
According to InvestingPro data, Gouverneur Bancorp is currently trading at a Price / Book multiple of 0.38, which is considered low and may indicate that the company's stock is undervalued relative to its book value. This could be a point of interest for value investors seeking investment opportunities.
Despite a modest market capitalization of $12.12 million, Gouverneur Bancorp has demonstrated a commitment to shareholder returns, maintaining dividend payments for an impressive 24 consecutive years.
The company's dividend yield as of the latest data stands at 3.42%, which could be appealing for income-focused investors. Additionally, the company has been profitable over the last twelve months, with a reported gross profit of $7.64 million.
InvestingPro Tips reveal a mixed financial performance for Gouverneur Bancorp. While the company is trading at a high earnings multiple with a P/E Ratio of 31.16, indicating a potentially higher valuation compared to earnings, it also suffers from weak gross profit margins. These factors, combined with the company's long-standing history of dividend payments, present a nuanced picture for prospective investors.
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