Jeff Bank Completes Requirements for Conversion to National Charter and Changes Name to Jeff Bank, National Association

Rhea-AI Summary

Jeffersonville Bancorp (OTCQB: JFBC) announced that Jeff Bank has completed all requirements to convert from a New York State banking charter to a national banking charter, effective at the opening of business on September 1, 2026. The bank will be renamed Jeff Bank, National Association, continue using the trade name “Jeff Bank,” and expects no significant impact on current activities, investments, or existing loan and deposit terms. Following the conversion, the OCC becomes the bank’s primary regulator, Jeff Bank joins the Federal Reserve Bank system, and the Federal Reserve Board remains primary regulator for Jeffersonville Bancorp.

Positive

• Completed conversion to national banking charter effective September 1, 2026
• OCC becomes primary regulator, eliminating dual state and federal oversight
• National charter provides state law preemption that may improve competitive position
• Bank becomes member of the Federal Reserve Bank system

Negative

• None.

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JEFFERSONVILLE, N.Y., Aug. 31, 2026 (GLOBE NEWSWIRE) -- Jeffersonville Bancorp, Inc. (OTCQB - JFBC) (the “Company”), the holding company for Jeff Bank (the “Bank”), announced today that the Bank has completed all requirements to convert from a New York State to a national banking charter. The conversion will become effective at the opening of business on Tuesday, September 1, 2026. At such time, the Bank will operate under the name Jeff Bank, National Association but will continue to operate under the trade name “Jeff Bank”.

The Company expects that the charter conversion will not have a significant impact on the Bank’s current activities or investments and will not affect the terms and conditions of loan and deposit accounts.

George W. Kinne, Jr., President and CEO of the Bank, stated: “We are pleased to begin operating under a national charter. Our pre-conversion exam experience confirmed that the regulatory oversight of the OCC will be similar to what we have received in the past but without the duplication of efforts that occurs with separate state and federal regulators. In addition, the national charter provides preemption of state laws, which will improve our competitive position since our branches border two other states.”

As a result of the charter conversion, the OCC will be the Bank’s primary regulator, and the Bank will become a member of the Federal Reserve Bank system. The Federal Reserve Board will continue to be the primary banking regulator for Jeffersonville Bancorp.

Jeffersonville Bancorp is a one-bank holding company, which owns all the capital stock of Jeff Bank. Jeff Bank maintains ten full-service branches in Sullivan and Orange County, New York located in Anawana Lake Road/Monticello, Eldred, Callicoon, Jeffersonville, Liberty, Livingston Manor, Monticello, Port Jervis, White Lake, and Wurtsboro.

For More Information, call: 845-482-4000

Contact: George W. Kinne, Jr. – CEO

FAQ

What did Jeff Bank (OTCQB: JFBC) announce about its banking charter on August 31, 2026?

Jeff Bank announced completion of all requirements to convert from a New York State banking charter to a national banking charter. According to Jeffersonville Bancorp, the conversion becomes effective September 1, 2026, with the bank operating as Jeff Bank, National Association.

When does Jeff Bank’s national charter conversion become effective for JFBC shareholders?

The national charter conversion becomes effective at the opening of business on September 1, 2026. According to Jeffersonville Bancorp, Jeff Bank will then operate as Jeff Bank, National Association while continuing to use the trade name “Jeff Bank.”

How will Jeff Bank’s national charter affect customer accounts and services?

Jeffersonville Bancorp expects the charter conversion will not significantly affect Jeff Bank’s current activities or investments. According to the company, terms and conditions of existing loan and deposit accounts will remain unchanged after the move to a national banking charter.

Who will regulate Jeff Bank after its conversion to a national charter?

After conversion, the Office of the Comptroller of the Currency (OCC) becomes Jeff Bank’s primary regulator. According to Jeffersonville Bancorp, the bank will also become a member of the Federal Reserve Bank system, while the Federal Reserve Board remains primary regulator for Jeffersonville Bancorp.

Why does Jeffersonville Bancorp expect competitive benefits from Jeff Bank’s national charter?

Jeffersonville Bancorp cites federal preemption of state laws under the national charter as a competitive benefit. According to the company, this structure may improve Jeff Bank’s competitive position because its branches border two other states, reducing complications from differing state regulations.

Will Jeff Bank change its name or branding after the JFBC charter conversion?

Following the conversion, the bank’s legal name will become Jeff Bank, National Association. According to Jeffersonville Bancorp, it will continue to operate under the established trade name “Jeff Bank,” maintaining continuity for customers across its ten New York branches.