Oconee Federal To Merge With Mutual Savings Bank; Depositors Of Mutual Will Become Depositors Of Oconee Federal And Members Of The MHC, And Will Have Same Rights And Privileges
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Oconee Federal Financial Corp. (OFED) is set to merge with Mutual Savings Bank. As a result of the merger, Mutual Savings Bank's depositors will become depositors of Oconee Federal and members of the MHC, and will have the same rights and privileges.
July 20, 2023 | 12:34 pm
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Oconee Federal Financial Corp. (OFED) is merging with Mutual Savings Bank. This could potentially increase OFED's customer base and deposits.
Mergers often lead to an increase in customer base and deposits for the acquiring bank. In this case, OFED is likely to benefit from the merger with Mutual Savings Bank as Mutual's depositors will become OFED's depositors.
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