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Last $20.00 USD
Change Today 0.00 / 0.00%
Volume 0.0
OFED On Other Exchanges
As of 8:10 PM 09/18/15 All times are local (Market data is delayed by at least 15 minutes).

oconee federal financial cor (OFED) Snapshot

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Day High
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52 Week High
01/8/15 - $21.50
52 Week Low
09/10/15 - $17.01
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Average Volume 10 Days
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oconee federal financial cor (OFED) Details

Oconee Federal Financial Corp. operates as a holding company for Oconee Federal Savings and Loan Association that provides various banking products and services in the Oconee County area of northwestern South Carolina and the northeast area of Georgia. The company’s deposit products include demand, NOW, money market, savings, certificates of deposit, and individual retirement accounts. Its loan portfolio comprises one-to-four family residential real estate loans; multi-family real estate loans; nonresidential real estate loans secured by real estate mortgages on churches, owner-occupied and non-owner occupied commercial buildings of various types, retail and office buildings, hotels, and other business and industrial properties; construction and land loans; home equity loans and lines of credit; agricultural loans; commercial and industrial loans; and consumer loans for the purchase of automobiles and boats, and for other legitimate personal purposes. Oconee Federal Financial Corp. operates through its executive office and seven branch offices. The company was founded in 1924 and is based in Seneca, South Carolina. Oconee Federal Financial Corp. is a subsidiary of Oconee Federal, MHC.

81 Employees
Last Reported Date: 09/28/15
Founded in 1924

oconee federal financial cor (OFED) Top Compensated Officers

Chairman of the Board, Chief Executive Office...
Total Annual Compensation: $212.5K
President, Director, President of Oconee Fede...
Total Annual Compensation: $174.9K
Chief Financial Officer and Senior Vice Presi...
Total Annual Compensation: $122.9K
Senior Vice President and Assistant Treasurer
Total Annual Compensation: $106.1K
Compensation as of Fiscal Year 2014.

oconee federal financial cor (OFED) Key Developments

Oconee Federal Financial Corp. Replaces Cherry Bekaert LLP with Crowe Horwath LLP as New Principal Accountant

On September 16, 2015, Oconee Federal Financial Corp. has dismissed as the company's principal accountants Cherry Bekaert LLP. The dismissal will be effective upon the issuance of the company's consolidated financial statements for the fiscal year ended June 30, 2015, and an amendment to this current report will be filed upon the effectiveness of such dismissal. The company appointed Crowe Horwath LLP as the company's new principal accountants for the fiscal year ending June 30, 2016. The appointment was approved by the audit committee of the board of directors of the company.

Oconee Federal Financial Corp. Announces Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended June 30, 2015

Oconee Federal Financial Corp. announced unaudited consolidated earnings results for the fourth quarter and full year ended June 30, 2015. For the quarter, net interest income increased by $3.5 million, or 30.4%, to $15.0 million for the year ended June 30, 2015 compared to $11.5 million for 2014. Net interest margin for the year ended June 30, 2015 was 3.73%, up 43 basis-points from 3.30% for the year ended June 30, 2014. This increase in net interest margin was reflective of the decrease in average cost of funds to 0.37% for the year ended June 30, 2015 from 0.53% for the year ended June 30, 2014 and an increase in the average yield on interest-earning assets to 4.03% for the year ended June 30, 2015 from 3.73% for the year ended June 30, 2014. Income before income taxes was $2,110,000 compared to $1,337,000 a year ago. Net income was $1.2 million, or $0.21 per diluted share, for the three months ended June 30, 2015, compared to net income of $854,000, or $0.15 per diluted share, for the three months ended June 30, 2014. Return on average assets was 1.03% compared to 0.95% a year ago. Return on average equity was 1.04% compared to 1.00% a year ago. For the year, net interest income was $14,956,000 compared to $11,496,000 a year ago. Income before income taxes was $7,202,000 compared to $5,689,000 a year ago. Net income was $4,512,000 or $0.78 basic and diluted per share compared to $3,639,000 or $0.64 basic and diluted per share a year ago. Return on average assets was 1.04% compared to 1.00% a year ago. Return on average equity was 5.64% compared to 4.78% a year ago.

Oconee Federal Financial Corp. Declares Quarterly Cash Dividend, Payable on or about August 27, 2015

On July 30, 2015, the Board of Directors of Oconee Federal Financial Corp. declared a quarterly cash dividend of $0.10 per share of the company's common stock. The dividend will be payable to stockholders of record as of August 13, 2015, and will be paid on or about August 27, 2015.


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Price/Sales 7.0x
Price/Book 1.4x
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