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Oconee Federal Financial Corp. announces agreement to acquire Stephens Federal Bank of Toccoa, Georgia

Thursday, 27 Feb 2014 08:30am EST 

Oconee Federal Financial Corp:Announced the execution of a merger agreement pursuant to which Stephens Federal will merge with and into Oconee Federal.Under the terms of the merger agreement, depositors and borrowers of Stephens Federal will become depositors and borrowers of Oconee Federal and will have the same rights and privileges in Oconee Federal MHC, the mutual holding company parent of the company.In addition, the Oconee Federal Charitable Foundation will support charitable organizations in the communities served by Stephens Federal.After the merger, the combined institution with have about $519 million in assets.Transaction is expected to close in the third or fourth quarter of 2014. 

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24 Oct 2014