Oconee

Oconee Financial Corporation Reports Second Quarter 2021 Results

Retrieved on: 
Tuesday, August 3, 2021

WATKINSVILLE, Ga., Aug. 3, 2021 /PRNewswire/ -- Oconee Financial Corporation ("Oconee") (OTCQX: OSBK) is pleased to report results for the second quarter of 2021.  Unaudited net income for the three months ending June 30, 2021, was $812,417 or $0.91 per common share.  This compares to $889,370 or $0.99 per common share for the second quarter of the prior year.  This represents an 8.7% decrease in net earnings in the second quarter of 2021 as compared to the same period in 2020.  The decrease for the second quarter was mainly attributed to merger expenses of $196,000 relating to our pending acquisition of Elberton Federal Savings and Loan Association. Excluding these merger-related charges, net earnings for the second quarter were $967,257.  This represents an 8.8% increase over the second quarter of 2020.

Key Points: 
  • WATKINSVILLE, Ga., Aug. 3, 2021 /PRNewswire/ --Oconee Financial Corporation ("Oconee") (OTCQX: OSBK) is pleased to report results for the second quarter of 2021.
  • This represents an 8.7% decrease in net earnings in the second quarter of 2021 as compared to the same period in 2020.
  • Neil Stevens, President and Chief Executive Officer of Oconee, commenting on the second quarter's results noted "we're pleased with our earnings for the second quarter.
  • Oconee Financial Corporation is headquartered in Watkinsville, Georgia and operates four full-service branches and one limited-service branch.

Oconee State Bank and Elberton Federal Enter Into Merger Agreement

Retrieved on: 
Tuesday, June 1, 2021

WATKINSVILLE, Ga. and ELBERTON, Ga., June 1, 2021 /PRNewswire/ --The boards of Oconee Financial Corporation (OTCQX: OSBK) and Elberton Federal Savings and Loan Association (Elberton) announced today that the organizations have entered into a definitive agreement for the merger of Elberton and Oconee State Bank, a wholly owned subsidiary of Oconee Financial Corporation.

Key Points: 
  • WATKINSVILLE, Ga. and ELBERTON, Ga., June 1, 2021 /PRNewswire/ --The boards of Oconee Financial Corporation (OTCQX: OSBK) and Elberton Federal Savings and Loan Association (Elberton) announced today that the organizations have entered into a definitive agreement for the merger of Elberton and Oconee State Bank, a wholly owned subsidiary of Oconee Financial Corporation.
  • Oconee Financial is the holding company for Oconee State Bank, a $520 million asset community bank based in Watkinsville.
  • Graves will serve as the Northeast Georgia Market Executive for Oconee State Bank after the merger is completed, and Elberton director Bob Paul will join the Oconee Financial and Oconee State Bank boards of directors.
  • All Elberton Federal employees will remain with Oconee State Bank, and Elberton directors Kyle Branan, Phil Pitts and Jimmy Hill will serve on Oconee State Bank's Northeast Georgia advisory board.

Oconee Financial Corporation Reports First Quarter 2021 Results

Retrieved on: 
Wednesday, May 5, 2021

b'WATKINSVILLE, Ga., May 5, 2021 /PRNewswire/ --Oconee Financial Corporation ("Oconee") (OTCQX: OSBK) is pleased to report results for the first quarter of 2021.

Key Points: 
  • b'WATKINSVILLE, Ga., May 5, 2021 /PRNewswire/ --Oconee Financial Corporation ("Oconee") (OTCQX: OSBK) is pleased to report results for the first quarter of 2021.
  • Unaudited net income for the three months ending March 31, 2021, was $824,221 or $0.92 per common share.
  • This represents a 452% increase in net earnings in the first quarter of 2021 as compared to the same period in 2020.
  • In February 2021, Oconee State bank celebrated 61 years of service and continues to be the only locally owned and operated community bank headquartered in Oconee County.

Oconee State Bank Taps FINBOA to Automate Back-Office Workflows

Retrieved on: 
Tuesday, February 23, 2021

Oconee State Bank has partnered with FINBOA , a leading innovator in digital automation and regulatory compliance for financial institutions, to empower their back-office workforce with end-to-end automation that digitizes time-consuming workflows.

Key Points: 
  • Oconee State Bank has partnered with FINBOA , a leading innovator in digital automation and regulatory compliance for financial institutions, to empower their back-office workforce with end-to-end automation that digitizes time-consuming workflows.
  • As the COVID-19 outbreak disrupted day-to-day banking and compliance operations, Oconee State Bank was prepared to accept, track and manage disputed claims remotely.
  • In February 2020, Oconee State Bank celebrated 60 years of service and continues to be the only locally owned and operated community bank headquartered in Oconee County, Georgia.
  • To learn more about Oconee State Banks results with FINBOA, please access the Oconee State Bank Story at https://www.finboa.com/reg-e-dispute-tracking-features/ .

Oconee Financial Corporation (OSBK) Reports Third Quarter 2020 Results

Retrieved on: 
Wednesday, November 11, 2020

WATKINSVILLE, Ga., Nov. 10, 2020 /PRNewswire/ --Oconee Financial Corporation ("Oconee") (OTCQX: OSBK) is pleased to report results for the third quarter of 2020.

Key Points: 
  • WATKINSVILLE, Ga., Nov. 10, 2020 /PRNewswire/ --Oconee Financial Corporation ("Oconee") (OTCQX: OSBK) is pleased to report results for the third quarter of 2020.
  • This compares to $629,863 or $0.71 per common share for the third quarter of 2019 and $889,370 or $0.99 per common share for the second quarter of 2020.
  • Third quarter 2020's results included $487,500 of loan loss provision expense versus $142,500 for the third quarter of 2019 and $187,500 for the second quarter of 2020.
  • Oconee Financial Corporation is headquartered in Watkinsville, Georgia and operates four full-service branches and one limited-service loan production office.

Be Pro Be Proud SC Skilled Trades Mobile Workshop Launched

Retrieved on: 
Friday, September 4, 2020

COLUMBIA, S.C., Sept. 4, 2020 /PRNewswire/ --South Carolina's top-of-the-line mobile workshop for skilled trades, Be Pro Be Proud SC , became a reality yesterday.

Key Points: 
  • COLUMBIA, S.C., Sept. 4, 2020 /PRNewswire/ --South Carolina's top-of-the-line mobile workshop for skilled trades, Be Pro Be Proud SC , became a reality yesterday.
  • Henry McMaster and Sen. Thomas Alexander, R-Oconee County, helped cut the ribbon on this Public Private Partnership that will promote skilled trades careers throughout South Carolina.
  • The state of Arkansas built the first Be Pro Be Proud mobile workshop in 2016.
  • South Carolina becomes the first state to partner with Arkansas to launch a similar skilled trades mobile workshop.

Oconee Federal Financial Corp. Announces Annual Financial Results

Retrieved on: 
Friday, August 14, 2020

The year ended June 30, 2020 was a good year for Oconee Federal.

Key Points: 
  • The year ended June 30, 2020 was a good year for Oconee Federal.
  • Oconee Federal is taking steps to meet the financial services needs of customers adversely affected by COVID-19 related issues.
  • Oconee Federal Financial Corp. (NASDAQ Capital Market: OFED) is the holding company of Oconee Federal Savings and Loan Association.
  • Oconee Federal Savings and Loan Association is a community oriented financial institution operating eight full-service branch locations in Oconee County, South Carolina, Pickens County, South Carolina, Stephens County, Georgia and Rabun County, Georgia.

Oconee Financial Corporation Completes Private Placement of $10.0 Million of Subordinated Notes

Retrieved on: 
Wednesday, August 12, 2020

WATKINSVILLE, Ga., Aug. 12, 2020 /PRNewswire/ --Oconee Financial Corporation (OTCQX: OSBK), (the "Company"), the holding company for Oconee State Bank (the "Bank"), today announced that it has completed the private placement of $10 million in fixed-to-floating rate subordinated notes due August 7, 2030 (the "Notes") to institutional accredited investors.

Key Points: 
  • WATKINSVILLE, Ga., Aug. 12, 2020 /PRNewswire/ --Oconee Financial Corporation (OTCQX: OSBK), (the "Company"), the holding company for Oconee State Bank (the "Bank"), today announced that it has completed the private placement of $10 million in fixed-to-floating rate subordinated notes due August 7, 2030 (the "Notes") to institutional accredited investors.
  • Oconee Financial Corporation intends to use the net proceeds from this placement to support organic growth, and for general corporate purposes.
  • Oconee Financial Corporation is headquartered in Watkinsville, Georgia and operates four full-service branches and one limited-service loan production office, through its wholly-owned subsidiary Oconee State Bank.
  • At June 30, 2020, Oconee Financial Corporation had assets of $469 million.

Oconee Financial Corporation Reports Second Quarter 2020 Results

Retrieved on: 
Tuesday, August 4, 2020

WATKINSVILLE, Ga., Aug. 3, 2020 /PRNewswire/ --Oconee Financial Corporation ("Oconee") (OTCQX: OSBK) is pleased to report results for the second quarter of 2020.

Key Points: 
  • WATKINSVILLE, Ga., Aug. 3, 2020 /PRNewswire/ --Oconee Financial Corporation ("Oconee") (OTCQX: OSBK) is pleased to report results for the second quarter of 2020.
  • This represents a 32.9% increase in net earnings in the second quarter of 2020 as compared to the same period in 2019.
  • Neil Stevens, President and Chief Executive Officer of Oconee stated "We're pleased with second quarter earnings and the improvement over the prior year second quarter and the first quarter of 2020.
  • Oconee Financial Corporation is headquartered in Watkinsville, Georgia and operates four full-service branches and one limited-service loan production office.

Oconee Financial Corporation Reports First Quarter 2020 Results

Retrieved on: 
Friday, May 1, 2020

WATKINSVILLE, Ga., April 30, 2020 /PRNewswire/ -- Oconee Financial Corporation ("Oconee") (OTCQX: OSBK) is pleased to report results for the first quarter of 2020.

Key Points: 
  • WATKINSVILLE, Ga., April 30, 2020 /PRNewswire/ -- Oconee Financial Corporation ("Oconee") (OTCQX: OSBK) is pleased to report results for the first quarter of 2020.
  • This represents a 71.5% decrease in net earnings in the first quarter of 2020 as compared to the same period in 2019.
  • For the quarter ended March 31, 2020, total loans increased 7.1% and total deposits decreased 2.7% versus December 31, 2019.
  • Oconee Financial Corporation is headquartered in Watkinsville, Georgia and operates four full-service branches and one limited-service loan production office.