OSBK Research | Milton Maxwell

OSBK

Oconee Financial Corporation

46.02

+0.00+0%

Dec 16, 4:00:00 PM EST

Upcoming Earnings

Report date

≈ -/-

Earnings Call Transcripts

This Quarter (Q4 '25)

No earnings call transcript available yet

Last Quarter (Q3 '25)

No earnings call transcript available

Key Stats

Market Cap

48.16M

P/E (TTM)

8.68

Basic EPS (TTM)

5.30

Dividend Yield

Recent Filings

10-Q

Q1 FY2012 results

5/15/12May 15, 2012

Oconee Financial swung to a $376K net profit in Q1 2012, up from a $16K loss a year earlier, as net interest income edged 1.9% higher to $2.15M on a shrinking loan book yet lower funding costs. Provision for loan losses plunged 80% to $100K, reflecting fewer charge-offs amid a 1.8% quarterly drop in loans to $141.3M, while nonaccrual loans fell 15% to $11.3M. Deposits surged 7.4% to $254.2M, boosting cash to $45.2M; free cash flow wasn't disclosed in the 10-Q. Equity climbed 1.9% to $22.6M, though the leverage ratio dipped to 7.3%, breaching the 8% regulatory mandate under the FDIC consent order. Non-GAAP metrics not disclosed. Still, persistent real estate market weakness poses ongoing credit risks.

10-K

FY2011 results

3/30/12Mar 30, 2012

Oconee Financial Corporation's FY2011 results showed total assets shrinking to $259.8M from $279.4M in 2010, with loans dropping 11.7% to $143.9M amid a deliberate balance sheet contraction to safeguard capital amid ongoing losses. Net interest income edged up 2.1% to $8.7M, buoyed by lower funding costs in a subdued rate environment, yet the provision for loan losses swelled to $4.3M from $3.4M as net charge-offs climbed to $5.0M, driven by real estate woes. Nonaccrual loans improved 19.1% to $13.2M, signaling tentative quarterly momentum in asset quality, while deposits dipped 2.6% to $236.6M. No dividends were paid, per regulatory order, and liquidity held steady at 25.1%. Yet economic fragility in Georgia's housing and hotel sectors threatens to stall this progress.

10-Q

Q3 FY2011 results

11/14/11Nov 14, 2011

Oconee Financial turned profitable in Q3 2011, posting net earnings of $107,844 versus a $948,823 loss a year earlier, while nine-month net loss narrowed to $401,211 from $825,090. Net interest income climbed 8.9% year-over-year to $2.3M in the quarter, driven by a 44.5% drop in interest expense to $491,054 amid lower rates and reduced time deposits, though full-year interest income fell 11.5% (derived) on a 10.7% loan shrinkage to $154.1M. Provision for loan losses eased to $610,000 from $1.35M, reflecting fewer charge-offs, yet nonaccrual loans hit $18.3M or 11.9% of the portfolio, concentrated in real estate construction. Cash stood at $22.6M after $2.2M operating inflows, with no debt but a regulatory consent order mandating 8% Tier 1 capital—missed at 7.9%. Non-GAAP metrics not disclosed in the 10-Q. Regulatory pressures loom large.

10-Q

Q2 FY2011 results

8/10/11Aug 10, 2011

Oconee Financial's Q2 2011 results showed net interest income dipping 6.3% y/y to $2.2M, yet interest expense fell 38.3% y/y to $0.6M amid lower rates and shrinking deposits, squeezing the margin to 3.36% from 3.42%. A hefty $1.3M provision for loan losses—up 6.6% y/y—drove a $0.6M net loss, or $(0.55) diluted EPS, with nonaccrual loans climbing to $18.6M (12% of total) on real estate woes. Other income dropped 35.3% y/y to $0.6M, hit by absent motel revenue, while expenses eased 2.8% y/y to $2.3M through staff cuts. Cash stood at $23M with $1.3M operating cash flow, but total assets shrank 3.7% q/q to $269M and deposits fell 1.3% q/q; no debt beyond deposits and repos. Non-GAAP metrics not disclosed in the 10-Q. Regulatory pressures from the 2009 FDIC Order loom large, demanding 8% Tier 1 capital that the bank missed at 7.5%. Losses mount.

8-K

Shareholders re-elect full board

7/8/11Jul 8, 2011

Oconee Financial Corporation held its 2011 annual shareholder meeting on May 2, 2011, electing all ten director nominees with overwhelming support—over 612,000 votes for each, against just 90 withheld. G. Robert Bishop and J. Albert Hale, Sr. saw slightly more abstentions at 390 apiece, yet approval remained near-unanimous. This solidifies board continuity amid steady governance.

About

Oconee Financial Corporation operates as the bank holding company for Oconee State Bank that provides a range of commercial and consumer banking products and services to consumers, businesses, and communities. The company offers various deposit products, including checking, savings/money market, and individual retirement accounts, as well as certificates of deposits. It also provides loans comprising consumer, construction, commercial, small business administration, and mortgage loans; lines of credit; and debit and credit cards. In addition, the company offers bill pay, electronic statements, safe deposit box, overdraft protection, stop payment, wire transfer, mobile and remote deposit, ACH advantage, merchant card, check recovery, mobile text banking, and investment services; and online, mobile, and telephone banking services. It operates thee full-service financial centers in Oconee County; one full-service financial center in Gwinnett County; one limited service loan production office in Athens/Clarke County; one financial center in Bogart; one financial center located on Experiment Station Road, which serves the Butler's Crossing community; one financial center located on North Brown Road in Lawrenceville; and one loan production office located in One Press Place in downtown Athens; and three automated teller machines located in Oconee County. Oconee Financial Corporation was founded in 1960 and is headquartered in Watkinsville, Georgia.

CEO

Mr. Thomas F. Wilson

IPO

3/29/2019

Website

https://www.oconeestatebank.com

Sector

Financial Services

Industry

Banks - Regional