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7 Highest Rated Small-Cap Bank Stocks

7. Greene County Bancorp

Shares of Greene County Bancorp (GCBC) of Catskill, N.Y., closed at $18.00 Thursday, returning 8% year-to-date, following a 9% decline during 2011. The thinly traded shares have returned 49% over the past three years, and 75% over the past five years.

Based on a quarterly payout of 17.5 cents, the shares have a dividend yield of 3.89%.

Greene County Bancorp is part of a mutual holding company structure, with Green County Bancorp MHC holding 56% of outstanding shares as of Dec. 31, with the public holding the remaining shares. The mutual holding company's practice is to waive its dividend, o that the 17.5 cents is paid only on publicly-held shares.

Greene County Bancorp had $578.7 million in total assets as of March 31, with 12 Greene County Savings Bank branches in Greene County, Columbia County and southern Albany County, in New York.

The company's ROA has been solid, ranging from 0.91% to 1.10% over the past five quarters.

The shares trade for 1.4 times tangible book value and for 12 times trailing earnings, according to Thomson Reuters Bank Insight. There are no sell-side analysts polled by Thomson Reuters covering Greene County Bancorp.

While the stock price multiples aren't cheap, especially in the current environment, Greene County Bancorp has certainly been a steady performer. When announcing the company's fiscal third-quarter results on April 24, CEO Donald Gibson touted the company's naming to KBW's 2011 Bank Honor Roll, meeting three conditions, including "no annual loss reported in net income per share before extraordinary items over the past 10 years," 2011 "annual reported net income per share before extraordinary items equal to or greater than peak net income per share over the past 10 years," and "consecutive increases in net income per share before extraordinary items since 2009."

Interested in more on Greene County Bancorp? See TheStreet Ratings' report card for this stock.

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