Gouverneur Bancorp Inc. announced earnings results for the first quarter ended December 31, 2012. For the three months ended December 31, 2012 the company reported net income of $500,000, or $0.22 per diluted share, representing an increase of $5,000, or 1.01%, over last year's net income of $495,000, or $0.22 per diluted share. The annualized return on average assets increased from 1.32% to 1.36% and the return on average equity decreased from 8.02% to 7.68% for the three months ended December 31, 2012 and 2011, respectively.

Net interest income decreased by $31,000, or 1.94%, from $1,599,000 for the quarter ended December 31, 2011 to $1,568,000 for the quarter ended December 31, 2012. Interest income decreased $114,000, or 5.84%, while interest expense decreased $83,000, or 23.45% over the same period.