Oconee Financial Corporation Reports Second Quarter 2021 Results
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.
- 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.