{"id":429602,"date":"2021-02-04T17:22:06","date_gmt":"2021-02-04T22:22:06","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=429602"},"modified":"2021-02-04T17:22:06","modified_gmt":"2021-02-04T22:22:06","slug":"oconee-financial-corporation-reports-fourth-quarter-2020-results","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/oconee-financial-corporation-reports-fourth-quarter-2020-results\/","title":{"rendered":"Oconee Financial Corporation Reports Fourth Quarter 2020 Results"},"content":{"rendered":"
\n

PR Newswire<\/p>\n<\/p><\/div>\n

\n

\n WATKINSVILLE, Ga.<\/span>, Feb. 4, 2021<\/span> \/PRNewswire\/ —\u00a0Oconee Financial Corporation (“Oconee”) (OTCQX: OSBK) is pleased to report results for the fourth quarter of 2020. \u00a0Unaudited net income for the three months ending December 31, 2020<\/span>, was $333,597<\/span> or $0.37<\/span> per common share.\u00a0 This compares to $1,936,380<\/span> or $2.17<\/span> per common share for the fourth quarter of 2019 and $516,483<\/span> or $0.58<\/span> per common share for the third quarter of 2020.\u00a0 Fourth quarter 2020’s results included $387,500<\/span> of loan loss provision expense versus $142,500<\/span> for the fourth quarter of 2019 and $487,500<\/span> for the third quarter of 2020.\u00a0\u00a0 Fourth quarter 2019’s results included an after-tax gain on sale of Oconee’s operations center of $1.3 million<\/span>, or $1.45<\/span> per common share. <\/p>\n

Unaudited net income for the year ended December 31, 2020<\/span> was $1,888,792<\/span> or $2.11<\/span> per common share.\u00a0 This compares to $3,759,365<\/span> or $4.20<\/span> per common share for YTD as of December 31<\/span> of the prior year.\u00a0 This represents a decrease of 49.8% in net earnings for the year ended December 31, 2020<\/span> as compared to the same period in 2019.\u00a0 Excluding the gain on sale of the operations center, net income declined $573 thousand<\/span> or $0.64<\/span> per share.<\/p>\n

Total assets as of December 31, 2020<\/span>, were $494.5 million<\/span>, compared to total assets of $399.5 million<\/span> as of December 31, 2019<\/span>, an increase of $95.0 million<\/span>, or 24%. Total loans were $319.6 million<\/span> and deposits were $444.7 million<\/span> as of December 31<\/span>, 2020.\u00a0 This compared to total loans of $248.8 million<\/span> and deposits of $361.5 million<\/span> at December 31<\/span>, 2019.\u00a0 As of December 31, 2020<\/span>, total loans have increased 28.5% and total deposits have increased 23.0% versus December 31<\/span>, 2019.\u00a0 <\/p>\n

\n Neil Stevens<\/span>, President and Chief Executive Officer of Oconee stated “our fourth quarter results were impacted by an additional loan loss provision of $200,000<\/span>.\u00a0 This follows an additional $300,000<\/span> loan loss provision in the third quarter of 2020.\u00a0 While credit quality remains stable, we believe it was prudent in light of current economic conditions to book an additional loan loss provision this year of $500,000<\/span>.\u00a0 <\/p>\n

Stevens added “we’ve been privileged to play a very essential role in helping businesses in our communities recover from the economic impact of COVID-19.\u00a0 In 2020, we loaned over $55 million<\/span> in PPP loans to over 600 businesses. We stand ready to assist customers with the next round of PPP loans.”\u00a0\u00a0 <\/p>\n

Oconee Financial Corporation is headquartered in Watkinsville, Georgia<\/span> and operates four full-service branches and one limited-service loan production office.\u00a0 In February 2021<\/span>, Oconee State<\/span> bank celebrated 61 years of service and continues to be the only locally owned and operated community bank headquartered in Oconee County<\/span>. Oconee State Bank<\/span> has proudly served the local community, providing an unparalleled commitment to personalized service, innovative products and solutions, and strives to bring exceptional value to our customers through local ownership, involvement and decision-making. We continuously strive to create remarkable experiences that significantly mark the lives of others.\u00a0 <\/p>\n

\u00a0<\/p>\n

\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n

\n
\n OCONEE FINANCIAL CORPORATION<\/b>
\n <\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n
\n BALANCE SHEET<\/b>
\n <\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n

\n 12\/31\/2020<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 12\/31\/2019<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n

\n (Unaudited)<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n

\n
\n ASSETS<\/u>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n \n <\/td>\n\n \n <\/td>\n\n

\n Cash and due from banks<\/span>\n <\/p>\n<\/td>\n

\n

\n $ \u00a0 \u00a0 \u00a0 \u00a0 76,418,430<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $ \u00a0 \u00a0 \u00a0 \u00a0 \u00a038,099,324<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n Securities available for sale (at fair value)<\/span>\n <\/p>\n<\/td>\n

\n

\n 75,548,813<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 99,228,506<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n Other investment<\/span>\n <\/p>\n<\/td>\n

\n

\n 359,700<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 314,900<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n Mortgage loans held for sale<\/span>\n <\/p>\n<\/td>\n

\n

\n 6,408,720<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 1,572,800<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n Loans, less allowance for loan<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n

\n losses<\/span>\n <\/p>\n<\/td>\n

\n

\n 319,567,770<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 248,771,230<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n Premises and equipment<\/span>\n <\/p>\n<\/td>\n

\n

\n 5,103,036<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 4,294,867<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n Other real estate owned<\/span>\n <\/p>\n<\/td>\n

\n

\n —<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n —<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n Other assets<\/span>\n <\/p>\n<\/td>\n

\n

\n 11,129,233<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 7,239,812<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n

\n Total Assets<\/span>\n <\/p>\n<\/td>\n

\n

\n $ \u00a0 \u00a0 \u00a0 494,535,702<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $ \u00a0 \u00a0 \u00a0 \u00a0399,521,439<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n

\n
\n LIABILITIES AND STOCKHOLDERS’ EQUITY<\/u>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n \n <\/td>\n\n

\n Liabilities:<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n \n <\/td>\n\n \n <\/td>\n\n

\n Deposits<\/span>\n <\/p>\n<\/td>\n

\n

\n $ \u00a0 \u00a0 \u00a0 444,701,932<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $ \u00a0 \u00a0 \u00a0 \u00a0361,522,574<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n Repurchase agreements<\/span>\n <\/p>\n<\/td>\n

\n

\n —<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n —<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n Subordinated debenture, net of capitalized expenses<\/span>\n <\/p>\n<\/td>\n

\n

\n 9,770,497<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n —<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n Dividends payable<\/span>\n <\/p>\n<\/td>\n

\n

\n —<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n —<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n Other borrowings<\/span>\n <\/p>\n<\/td>\n

\n

\n —<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n —<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n Accrued expenses and other liabilities<\/span>\n <\/p>\n<\/td>\n

\n

\n 1,928,168<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 2,331,769<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n

\n Total Liabilities<\/span>\n <\/p>\n<\/td>\n

\n

\n 456,400,597<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 363,854,343<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n \n <\/td>\n\n

\n Stockholder’s Equity:<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n \n <\/td>\n\n \n <\/td>\n\n

\n Common Stock<\/span>\n <\/p>\n<\/td>\n

\n

\n 1,794,250<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 1,793,760<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n Restricted Stock<\/span>\n <\/p>\n<\/td>\n

\n

\n (37,977)<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n (36,745)<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n Additional Paid in Capital<\/span>\n <\/p>\n<\/td>\n

\n

\n 4,147,114<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 4,139,146<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n Retained earnings<\/span>\n <\/p>\n<\/td>\n

\n

\n 30,850,979<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 29,501,154<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n Unrealized gain\/loss on securities<\/span>\n <\/p>\n<\/td>\n

\n

\n 1,380,739<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 269,781<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n

\n Total Stockholder’s Equity<\/span>\n <\/p>\n<\/td>\n

\n

\n 38,135,105<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 35,667,096<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n

\n Total Liabilities and Stockholder’s Equity<\/span>\n <\/p>\n<\/td>\n

\n

\n $ \u00a0 \u00a0 \u00a0 494,535,702<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $ \u00a0 \u00a0 \u00a0 \u00a0399,521,439<\/span>\n <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n

\u00a0<\/p>\n

\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n \n <\/td>\n\n

\n
\n OCONEE FINANCIAL CORPORATION<\/b>
\n <\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n

\n
\n STATEMENT OF INCOME – QTD<\/b>
\n <\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n

\n 12\/31\/2020<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 12\/31\/2019<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n

\n (Unaudited)<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n \n <\/td>\n\n

\n Interest Income:<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n \n <\/td>\n\n

\n \u00a0\u00a0 Loans<\/span>\n <\/p>\n<\/td>\n

\n

\n $ \u00a0 \u00a0 \u00a0 \u00a03,702,713<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $ \u00a0 \u00a0 \u00a0 \u00a0 3,221,637<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n

\n \u00a0\u00a0 Securities available for sale<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n

\n State, County & Municipal<\/span>\n <\/p>\n<\/td>\n

\n

\n 150,758<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 93,972<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n

\n Treasuries & Agencies<\/span>\n <\/p>\n<\/td>\n

\n

\n 139,227<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 296,051<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n

\n Corporate<\/span>\n <\/p>\n<\/td>\n

\n

\n 45,187<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n —<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n Federal funds sold & other<\/span>\n <\/p>\n<\/td>\n

\n

\n 23,305<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 145,286<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n Total Interest Income<\/span>\n <\/p>\n<\/td>\n

\n

\n 4,061,190<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 3,756,947<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n \n <\/td>\n\n

\n Interest Expense:<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n \n <\/td>\n\n \n <\/td>\n\n

\n Deposits<\/span>\n <\/p>\n<\/td>\n

\n

\n 287,415<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 475,516<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n Other<\/span>\n <\/p>\n<\/td>\n

\n

\n 180,617<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 398<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n Total Interest Expense<\/span>\n <\/p>\n<\/td>\n

\n

\n 468,032<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 475,914<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n

\n Net interest income<\/span>\n <\/p>\n<\/td>\n

\n

\n 3,593,158<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 3,281,033<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n \n <\/td>\n\n

\n Provision for loan losses<\/span>\n <\/p>\n<\/td>\n

\n

\n 387,500<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 142,500<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n \n <\/td>\n\n

\n \u00a0\u00a0 Net income after provision for loan loss<\/span>\n <\/p>\n<\/td>\n

\n

\n 3,205,658<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 3,138,533<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n \n <\/td>\n\n

\n Noninterest income<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n \n <\/td>\n\n

\n \u00a0\u00a0 Service charge on deposit accounts<\/span>\n <\/p>\n<\/td>\n

\n

\n 114,185<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 139,893<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n Gain on Sale of Assets<\/span>\n <\/p>\n<\/td>\n

\n

\n 500<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 1,781,545<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n Securities gains (losses), net<\/span>\n <\/p>\n<\/td>\n

\n

\n —<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 930<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n Mortgage banking income<\/span>\n <\/p>\n<\/td>\n

\n

\n 668,645<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 194,979<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n SBA loan related income<\/span>\n <\/p>\n<\/td>\n

\n

\n 26,539<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 271,413<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n Commissions on investment sales<\/span>\n <\/p>\n<\/td>\n

\n

\n 106,387<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 123,821<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n Other<\/span>\n <\/p>\n<\/td>\n

\n

\n 337,942<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 306,319<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n Total noninterest income<\/span>\n <\/p>\n<\/td>\n

\n

\n 1,254,199<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 2,818,900<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n \n <\/td>\n\n

\n Noninterest expense<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n \n <\/td>\n\n

\n \u00a0\u00a0 Salaries and employee benefits<\/span>\n <\/p>\n<\/td>\n

\n

\n 2,593,870<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 2,178,654<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n Occupancy<\/span>\n <\/p>\n<\/td>\n

\n

\n 304,014<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 380,418<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n Other operating<\/span>\n <\/p>\n<\/td>\n

\n

\n 1,203,960<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 872,193<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n Total noninterest expense<\/span>\n <\/p>\n<\/td>\n

\n

\n 4,101,844<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 3,431,265<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n \n <\/td>\n\n \n <\/td>\n\n

\n \u00a0\u00a0 Income before provision for income tax<\/span>\n <\/p>\n<\/td>\n

\n

\n 358,013<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 2,526,168<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n \n <\/td>\n\n

\n Provision for income taxes<\/span>\n <\/p>\n<\/td>\n

\n

\n 24,415<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 589,788<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n

\n Net Income<\/span>\n <\/p>\n<\/td>\n

\n

\n $ \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 333,597<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $ \u00a0 \u00a0 \u00a0 \u00a0 1,936,380<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n

\n Period-Ending Outstanding Shares<\/span>\n <\/p>\n<\/td>\n

\n

\n 897,125<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 896,880<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n

\n Weighted Average Shares Outstanding<\/span>\n <\/p>\n<\/td>\n

\n

\n 896,163<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 895,742<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n

\n QTD Earnings Per Common Share<\/span>\n <\/p>\n<\/td>\n

\n

\n $ \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 0.37<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $ \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a02.17<\/span>\n <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n

\u00a0<\/p>\n

\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n \n <\/td>\n\n

\n
\n OCONEE FINANCIAL CORPORATION<\/b>
\n <\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n

\n
\n STATEMENT OF INCOME-YTD<\/b>
\n <\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n

\n 12\/31\/2020<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 12\/31\/2019<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n

\n (Unaudited)<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n \n <\/td>\n\n

\n Interest Income:<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n \n <\/td>\n\n \n <\/td>\n\n

\n Loans<\/span>\n <\/p>\n<\/td>\n

\n

\n $ \u00a0 \u00a0 \u00a0 \u00a0 14,587,768<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $ \u00a0 \u00a0 \u00a0 \u00a0 \u00a012,381,600<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n Securities available for sale<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n

\n State, County & Municipal<\/span>\n <\/p>\n<\/td>\n

\n

\n 407,768<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 454,790<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n

\n Treasuries & Agencies<\/span>\n <\/p>\n<\/td>\n

\n

\n 804,391<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 1,259,350<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n

\n Corporate<\/span>\n <\/p>\n<\/td>\n

\n

\n 58,594<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n —<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n Federal funds sold & other<\/span>\n <\/p>\n<\/td>\n

\n

\n 203,373<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 375,577<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n

\n 16,061,894<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 14,471,317<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n \n <\/td>\n\n

\n Interest Expense:<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n \n <\/td>\n\n \n <\/td>\n\n

\n Deposits<\/span>\n <\/p>\n<\/td>\n

\n

\n 1,597,785<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 1,523,254<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n Other<\/span>\n <\/p>\n<\/td>\n

\n

\n 316,410<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 11,211<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n Total Interest Expense<\/span>\n <\/p>\n<\/td>\n

\n

\n 1,914,195<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 1,534,465<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n

\n Net interest income<\/span>\n <\/p>\n<\/td>\n

\n

\n 14,147,699<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 12,936,852<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n \n <\/td>\n\n

\n Provision for loan losses<\/span>\n <\/p>\n<\/td>\n

\n

\n 1,250,000<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 570,000<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n \n <\/td>\n\n \n <\/td>\n\n

\n Net income after provision for loan losses<\/span>\n <\/p>\n<\/td>\n

\n

\n 12,897,699<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 12,366,852<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n \n <\/td>\n\n

\n Noninterest income<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n \n <\/td>\n\n \n <\/td>\n\n

\n Service charges on deposit accounts<\/span>\n <\/p>\n<\/td>\n

\n

\n 453,798<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 584,527<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n Gain on Sale of Assets<\/span>\n <\/p>\n<\/td>\n

\n

\n (17,655)<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 1,781,545<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n Securities gains (losses), net<\/span>\n <\/p>\n<\/td>\n

\n

\n 182,860<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 7,437<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n Mortgage banking income<\/span>\n <\/p>\n<\/td>\n

\n

\n 1,919,163<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 518,339<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n SBA loan related income<\/span>\n <\/p>\n<\/td>\n

\n

\n 615,891<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 1,076,190<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n Commissions on investment sales<\/span>\n <\/p>\n<\/td>\n

\n

\n 536,908<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 510,184<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n Other<\/span>\n <\/p>\n<\/td>\n

\n

\n 1,258,024<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 1,249,918<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n Total noninterest income<\/span>\n <\/p>\n<\/td>\n

\n

\n 4,948,990<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 5,728,140<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n \n <\/td>\n\n

\n Noninterest expense<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n \n <\/td>\n\n \n <\/td>\n\n

\n Salaries and employee benefits<\/span>\n <\/p>\n<\/td>\n

\n

\n 10,085,635<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 8,493,647<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n Occupancy<\/span>\n <\/p>\n<\/td>\n

\n

\n 1,204,014<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 1,358,796<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n Other operating<\/span>\n <\/p>\n<\/td>\n

\n

\n 4,301,175<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 3,465,678<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n Total noninterest expense<\/span>\n <\/p>\n<\/td>\n

\n

\n 15,590,824<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 13,318,121<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n

\n Income before provision for income taxes<\/span>\n <\/p>\n<\/td>\n

\n

\n 2,255,864<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 4,776,871<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n \n <\/td>\n\n

\n Provision for income taxes<\/span>\n <\/p>\n<\/td>\n

\n

\n 367,072<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 1,017,506<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n

\n Net Income<\/span>\n <\/p>\n<\/td>\n

\n

\n $ \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 1,888,792<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $ \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a03,759,365<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n

\n Period-Ending Outstanding Shares<\/span>\n <\/p>\n<\/td>\n

\n

\n 897,125<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 896,880<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n

\n Weighted Average Shares Outstanding<\/span>\n <\/p>\n<\/td>\n

\n

\n 896,163<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 895,742<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n

\n YTD Earnings Per Common Share<\/span>\n <\/p>\n<\/td>\n

\n

\n $ \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a02.11<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $ \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 4.20<\/span>\n <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n

\u00a0<\/p>\n

\n \"Cision\" View original content:http:\/\/www.prnewswire.com\/news-releases\/oconee-financial-corporation-reports-fourth-quarter-2020-results-301222762.html<\/a><\/p>\n

SOURCE Oconee Financial Corporation<\/p>\n<\/p><\/div>\n

\"\"<\/p>\n","protected":false},"excerpt":{"rendered":"

PR Newswire WATKINSVILLE, Ga., Feb. 4, 2021 \/PRNewswire\/ —\u00a0Oconee Financial Corporation (“Oconee”) (OTCQX: OSBK) is pleased to report results for the fourth quarter of 2020. \u00a0Unaudited net income for the three months ending December 31, 2020, was $333,597 or $0.37 per common share.\u00a0 This compares to $1,936,380 or $2.17 per common share for the fourth quarter of 2019 and $516,483 or $0.58 per common share for the third quarter of 2020.\u00a0 Fourth quarter 2020’s results included $387,500 of loan loss provision expense versus $142,500 for the fourth quarter of 2019 and $487,500 for the third quarter of 2020.\u00a0\u00a0 Fourth quarter 2019’s results included an after-tax gain on sale of Oconee’s operations center of $1.3 million, or $1.45 per common share. … <\/p>\n

Continue reading “Oconee Financial Corporation Reports Fourth Quarter 2020 Results”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-429602","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nOconee Financial Corporation Reports Fourth Quarter 2020 Results - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/oconee-financial-corporation-reports-fourth-quarter-2020-results\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Oconee Financial Corporation Reports Fourth Quarter 2020 Results - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"PR Newswire WATKINSVILLE, Ga., Feb. 4, 2021 \/PRNewswire\/ —\u00a0Oconee Financial Corporation (“Oconee”) (OTCQX: OSBK) is pleased to report results for the fourth quarter of 2020. \u00a0Unaudited net income for the three months ending December 31, 2020, was $333,597 or $0.37 per common share.\u00a0 This compares to $1,936,380 or $2.17 per common share for the fourth quarter of 2019 and $516,483 or $0.58 per common share for the third quarter of 2020.\u00a0 Fourth quarter 2020’s results included $387,500 of loan loss provision expense versus $142,500 for the fourth quarter of 2019 and $487,500 for the third quarter of 2020.\u00a0\u00a0 Fourth quarter 2019’s results included an after-tax gain on sale of Oconee’s operations center of $1.3 million, or $1.45 per common share. … Continue reading "Oconee Financial Corporation Reports Fourth Quarter 2020 Results"\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/oconee-financial-corporation-reports-fourth-quarter-2020-results\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2021-02-04T22:22:06+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/c212.net\/c\/img\/favicon.png?sn=CG70882&sd=2021-02-04\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/oconee-financial-corporation-reports-fourth-quarter-2020-results\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/oconee-financial-corporation-reports-fourth-quarter-2020-results\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"Oconee Financial Corporation Reports Fourth Quarter 2020 Results\",\"datePublished\":\"2021-02-04T22:22:06+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/oconee-financial-corporation-reports-fourth-quarter-2020-results\\\/\"},\"wordCount\":789,\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/oconee-financial-corporation-reports-fourth-quarter-2020-results\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/c212.net\\\/c\\\/img\\\/favicon.png?sn=CG70882&sd=2021-02-04\",\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/oconee-financial-corporation-reports-fourth-quarter-2020-results\\\/\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/oconee-financial-corporation-reports-fourth-quarter-2020-results\\\/\",\"name\":\"Oconee Financial Corporation Reports Fourth Quarter 2020 Results - 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