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Oconee Federal Financial Corp. reports community banking developments as the holding company for Oconee Federal Savings and Loan Association, a federally chartered savings and loan association founded in 1924 and based in Seneca, South Carolina. The association operates full-service branches in South Carolina and Georgia, including markets in Oconee, Pickens, Darlington, Stephens and Rabun counties.
Company news commonly covers quarterly and annual financial results, net interest margin commentary, cash dividend declarations, stock repurchase authorizations and capital-management updates tied to its community banking franchise.
Oconee Federal Financial Corp (OTCQX: OFED) reported quarterly net income of $1.3 million or $0.22 per diluted share for the quarter ended September 30, 2025, versus $790,000 or $0.14 per diluted share in the prior-year quarter.
Total assets were $659.0 million (down 1.35% from June 30, 2025). Total loans outstanding were $484.4 million. Stock book value was $14.83 and tangible book value was $14.39 at September 30, 2025. The company declared and paid a quarterly cash dividend of $0.10 per share (record date August 7, 2025; paid August 21, 2025), marking 56 consecutive quarterly dividends. Management cited an improved interest margin as a driver of higher net income.
Oconee Federal Financial Corp. (OTCQX: OFED) reported financial results for the fiscal year ended June 30, 2025, with net income of $4.2 million ($0.73 per diluted share), compared to $6.3 million ($1.10 per diluted share) in the previous year. The company's total assets increased 0.39% to $668.2 million, while total loans grew to $478.7 million.
The company's net interest margin improved significantly from $12.1 million to $15.5 million, largely due to the Mutual Savings Bank acquisition in January 2024 and the current interest rate environment. OFED maintained its quarterly dividend of $0.10 per share, marking 55 consecutive quarters of payments since December 2011.
Oconee Federal Financial Corp. (OTCQX: OFED), the holding company for Oconee Federal Savings and Loan Association, has announced a quarterly cash dividend. The company will pay a dividend of $0.10 per share to stockholders of record as of August 7, 2025. The payment is scheduled to be distributed on or about August 21, 2025.
Oconee Federal Financial Corp. (OTCQX: OFED) has announced a new stock repurchase program. The company plans to buy back up to 50,000 shares of its common stock, representing approximately 0.86% of its issued and outstanding shares.
The repurchase will be executed through various methods including open-market purchases, block trades, and negotiated private transactions. The timing will depend on market conditions, prices, available funds, and alternative capital uses. The company will implement the program under Rule 10b5-1 of the Securities Exchange Act of 1934, with repurchased shares being held as treasury stock.
Oconee Federal Financial Corp (OTCQX: OFED) has announced a quarterly cash dividend of $0.10 per share of common stock. The dividend will be distributed to stockholders of record as of May 8, 2025, with payments scheduled for May 22, 2025.
Oconee Federal Financial Corp. (OTCQX: OFED) reported financial results for Q1 2025, with net income of $1.0 million ($0.17 per diluted share), compared to $5 million ($0.86 per diluted share) in Q1 2024. The previous year's results included a one-time $4.9 million bargain purchase gain from the Mutual Savings Bank acquisition.
Key metrics as of March 31, 2025:
- Total assets: $659.0 million (down 0.99% from $665.6 million)
- Total loans: $481.8 million (up from $473.0 million)
- Book value: $14.15
- Tangible book value: $13.70
- Quarterly dividend: $0.10 per share (54th consecutive quarter)
President and CEO Curtis T. Evatt noted a $726 thousand increase in net income when excluding the prior year's bargain purchase gain and merger expenses, attributing the growth to improved interest margin.
Oconee Federal Financial Corp. (OTCQX: OFED), the holding company for Oconee Federal Savings and Loan Association, has announced a quarterly cash dividend of $0.10 per share on its common stock. The dividend will be paid to stockholders of record as of February 6, 2025, with payment scheduled for around February 20, 2025.
Oconee Federal Financial Corp. (OFED) reported net income of $978 thousand ($0.17 per diluted share) for Q4 2024, significantly higher than $320 thousand ($0.06 per diluted share) in Q4 2023. The company's total assets decreased by 1.13% to $658.1 million from $665.6 million in June 2024, while total loans increased to $472.5 million from $469.7 million.
The company maintained its tradition of paying quarterly dividends, marking its 53rd consecutive quarterly dividend of $0.10 per share since December 2011. The stock's book value and tangible book value were $13.64 and $13.19, respectively. The improved earnings were attributed to better interest margins compared to Q4 2023, despite slight decreases in assets due to paying down Federal Home Loan Bank borrowings and deposit fluctuations.
Oconee Federal Financial Corp. (OTCQX: OFED) has announced a quarterly cash dividend of $0.10 per share. The dividend will be distributed to stockholders of record as of November 7, 2024, with payment scheduled for November 21, 2024. This announcement comes from the holding company of Oconee Federal Savings and Loan Association.