Mutual savings bank

Third Century Bancorp Announces Dividend

Retrieved on: 
Thursday, February 22, 2024

(OTCPINK: TDCB) - Third Century Bancorp, an Indiana corporation and parent company of Mutual Savings Bank, announced today that the Board of Directors declared a dividend of $0.05 per share for shareholders of record on March 15, 2024.

Key Points: 
  • (OTCPINK: TDCB) - Third Century Bancorp, an Indiana corporation and parent company of Mutual Savings Bank, announced today that the Board of Directors declared a dividend of $0.05 per share for shareholders of record on March 15, 2024.
  • The dividend payable date is April 2, 2024.
  • Mutual Savings Bank is Johnson County Indiana’s only locally based financial institution, providing full-service banking services since 1890.
  • In addition to its main office at 80 E. Jefferson Street, Franklin, Indiana, the bank operates branches in Franklin at 1124 North Main Street, Trafalgar and Bargersville, Indiana.

Oconee Federal Completes Acquisition of Mutual Savings Bank

Retrieved on: 
Thursday, February 1, 2024

Oconee Federal Financial Corp. (OTC: OFED) (“the Company”), the holding company for Oconee Federal Savings and Loan Association (“Oconee Federal”), and the majority-owned subsidiary of Oconee Federal, MHC (“the MHC”), has completed its acquisition of Mutual Savings Bank (“Mutual”).

Key Points: 
  • Oconee Federal Financial Corp. (OTC: OFED) (“the Company”), the holding company for Oconee Federal Savings and Loan Association (“Oconee Federal”), and the majority-owned subsidiary of Oconee Federal, MHC (“the MHC”), has completed its acquisition of Mutual Savings Bank (“Mutual”).
  • Oconee Federal has established an Advisory Board and offered membership on it to the current directors of Mutual.
  • Oconee Federal will also support the Hartsville, South Carolina community through charitable grants from the Oconee Federal Foundation based on recommendations of the Advisory Board.
  • Curtis Evatt, President and Chief Executive Officer of Oconee Federal, stated “We are pleased to announce the completion of our merger with Mutual Savings Bank.

Oconee Federal Financial Corp. Announces Quarterly Financial Results

Retrieved on: 
Monday, January 22, 2024

Oconee Federal Financial Corp. (OTCQX: OFED) (the “Company”), the holding company for Oconee Federal Savings and Loan Association (“Oconee Federal”), announced today net income of $320 thousand, or $0.06 per diluted share, for the quarter ended December 31, 2023, which was less than the net income of $1.1 million, or $0.20 per diluted share, for the quarter ended December 31, 2022.

Key Points: 
  • Oconee Federal Financial Corp. (OTCQX: OFED) (the “Company”), the holding company for Oconee Federal Savings and Loan Association (“Oconee Federal”), announced today net income of $320 thousand, or $0.06 per diluted share, for the quarter ended December 31, 2023, which was less than the net income of $1.1 million, or $0.20 per diluted share, for the quarter ended December 31, 2022.
  • Forty-nine consecutive quarterly dividends of $0.10 per share since the quarter ended December 2011.
  • Total assets were $613.1 million, an increase of 3.0% from $595.4 million at June 30, 2023.
  • “The quarter ended December 31, 2023 presented challenges for Oconee Federal as we continue to face interest margin compression due to the current rate environment.

Third Century Bancorp Announces Dividend

Retrieved on: 
Friday, November 17, 2023

(OTCPINK: TDCB) - Third Century Bancorp, an Indiana corporation and parent company of Mutual Savings Bank, announced today that on November 16, 2023, the Board of Directors declared a dividend of $0.05 per share for shareholders of record on December 15, 2023.

Key Points: 
  • (OTCPINK: TDCB) - Third Century Bancorp, an Indiana corporation and parent company of Mutual Savings Bank, announced today that on November 16, 2023, the Board of Directors declared a dividend of $0.05 per share for shareholders of record on December 15, 2023.
  • The dividend is expected to be paid on January 3, 2024.
  • Founded in 1890, Mutual Savings Bank is a full-service financial institution with $300 million in assets as of September 30, 2023.
  • In addition to its main office at 80 East Jefferson Street, Franklin, Indiana, the bank operates branches in Franklin at 1124 North Main Street, as well as Trafalgar and Greenwood, Indiana.

Oconee Federal Financial Corp. Announces Quarterly Financial Results

Retrieved on: 
Thursday, October 19, 2023

Oconee Federal Financial Corp. (OTCQX: OFED) (the “Company”), the holding company for Oconee Federal Savings and Loan Association (“Oconee Federal”), announced today net income of $312 thousand, or $0.06 per diluted share, for the quarter ended September 30, 2023, which was less than the net income of $1.3 million, or $0.24 per diluted share, for the quarter ended September 30, 2022.

Key Points: 
  • Oconee Federal Financial Corp. (OTCQX: OFED) (the “Company”), the holding company for Oconee Federal Savings and Loan Association (“Oconee Federal”), announced today net income of $312 thousand, or $0.06 per diluted share, for the quarter ended September 30, 2023, which was less than the net income of $1.3 million, or $0.24 per diluted share, for the quarter ended September 30, 2022.
  • Forty-eight consecutive quarterly dividends of $0.10 per share since the quarter ended December 2011.
  • “The quarter ended September 30, 2023 presented challenges for Oconee Federal.
  • Oconee Federal, like many financial institutions, continues to face interest margin compression due to the rising rate environment.

Third Century Bancorp Announces Dividend

Retrieved on: 
Friday, August 25, 2023

(OTCPINK: TDCB) - Third Century Bancorp, an Indiana corporation and parent company of Mutual Savings Bank, announced today that on August 24, 2023, the Board of Directors declared a dividend of $0.10 per share for shareholders of record on September 15, 2023.

Key Points: 
  • (OTCPINK: TDCB) - Third Century Bancorp, an Indiana corporation and parent company of Mutual Savings Bank, announced today that on August 24, 2023, the Board of Directors declared a dividend of $0.10 per share for shareholders of record on September 15, 2023.
  • The dividend is expected to be paid on October 3, 2023.
  • Founded in 1890, Mutual Savings Bank is a full-service financial institution with $306 million in assets as of June 30, 2023.
  • In addition to its main office at 80 East Jefferson Street, Franklin, Indiana, the bank operates branches in Franklin at 1124 North Main Street, as well as Trafalgar and Greenwood, Indiana.

Oconee Federal Financial Corp. Announces Annual Financial Results

Retrieved on: 
Wednesday, August 9, 2023

Oconee Federal Financial Corp. (OTCQX: OFED) (the “Company”), the holding company for Oconee Federal Savings and Loan Association (“Oconee Federal”), announced today net income of $3.3 million, or $0.60 per diluted share, for the year ended June 30, 2023, which was less than the net income of $4.1 million, or $0.73 per diluted share, for the year ended June 30, 2022.

Key Points: 
  • Oconee Federal Financial Corp. (OTCQX: OFED) (the “Company”), the holding company for Oconee Federal Savings and Loan Association (“Oconee Federal”), announced today net income of $3.3 million, or $0.60 per diluted share, for the year ended June 30, 2023, which was less than the net income of $4.1 million, or $0.73 per diluted share, for the year ended June 30, 2022.
  • Total assets were $595.4 million, an increase of 9.3% from $544.8 million at June 30, 2022.
  • “The year ended June 30, 2023 presented challenges for Oconee Federal.
  • Oconee Federal, like many financial institutions, faced interest margin compression due to the rising rate environment.

Oconee Federal to Merge With Mutual Savings Bank

Retrieved on: 
Thursday, July 20, 2023

Oconee Federal Financial Corp. (NASDAQ: OFED) (“the Company”), the holding company for Oconee Federal Savings and Loan Association (“Oconee Federal”), and the majority-owned subsidiary of Oconee Federal, MHC (“the MHC”), and Mutual Savings Bank (“Mutual”), a federally-chartered mutual savings bank, today announced the execution of an agreement pursuant to which Mutual will merge with and into Oconee Federal with Oconee Federal as the surviving entity.

Key Points: 
  • Oconee Federal Financial Corp. (NASDAQ: OFED) (“the Company”), the holding company for Oconee Federal Savings and Loan Association (“Oconee Federal”), and the majority-owned subsidiary of Oconee Federal, MHC (“the MHC”), and Mutual Savings Bank (“Mutual”), a federally-chartered mutual savings bank, today announced the execution of an agreement pursuant to which Mutual will merge with and into Oconee Federal with Oconee Federal as the surviving entity.
  • Under terms of the agreement, depositors of Mutual will become depositors of Oconee Federal and members of the MHC, and will have the same rights and privileges in the MHC, as if their accounts had been established in Oconee Federal on the date established at Mutual.
  • Oconee Federal and will also support the Hartsville, South Carolina community through charitable grants from the Oconee Federal Foundation based on recommendations of the Advisory Board.
  • Curtis Evatt, President and Chief Executive Officer of Oconee Federal, stated “We are pleased to announce our partnership with Mutual Savings Bank.

Oconee Federal Financial Corp. Announces Voluntary NASDAQ Delisting and SEC Deregistration

Retrieved on: 
Thursday, July 20, 2023

Oconee Federal Financial Corp. (the “Company”) (NASDAQ: OFED), the holding company for Oconee Federal Savings and Loan Association (“Oconee Federal”), announced today that it has notified the NASDAQ Stock Market of the Company’s intent to voluntarily delist its common stock from the NASDAQ Capital Market.

Key Points: 
  • Oconee Federal Financial Corp. (the “Company”) (NASDAQ: OFED), the holding company for Oconee Federal Savings and Loan Association (“Oconee Federal”), announced today that it has notified the NASDAQ Stock Market of the Company’s intent to voluntarily delist its common stock from the NASDAQ Capital Market.
  • By a separate press release, the Company announced the execution of an agreement pursuant to which Mutual Savings Bank, a federally-chartered mutual savings bank, will merge with and into Oconee Federal with Oconee Federal as the surviving entity.
  • The Company has applied to have its shares quoted on the OTCQX Market following NASDAQ delisting.
  • Oconee Federal Savings and Loan Association will continue to report detailed quarterly financial results to its primary federal regulator, which are publicly available.

Third Century Bancorp Announces Dividend

Retrieved on: 
Thursday, May 18, 2023

(OTCPINK: TDCB) - Third Century Bancorp, an Indiana corporation and parent company of Mutual Savings Bank, announced today that the Board of Directors declared a dividend of $0.10 per share for shareholders of record on June 15, 2023.

Key Points: 
  • (OTCPINK: TDCB) - Third Century Bancorp, an Indiana corporation and parent company of Mutual Savings Bank, announced today that the Board of Directors declared a dividend of $0.10 per share for shareholders of record on June 15, 2023.
  • The dividend payable date is July 5, 2023.
  • Founded in 1890, Mutual Savings Bank is a full-service financial institution with assets of over $290 million.
  • In addition to its main office at 80 East Jefferson Street, Franklin, Indiana, the bank operates branches in Franklin at 1124 North Main Street, as well as in Trafalgar and Greenwood, Indiana.