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Oconee Federal Announces Appointment of New Directors

1. Oconee Federal appointed John W. Hobbs and Bill Barker as directors. 2. Hobbs has 30+ years banking experience, currently CFO of the Company. 3. Barker has 50+ years experience and knowledge of the South Carolina market. 4. Leadership change aims to enhance stakeholder representation and company performance. 5. Effective date for appointments is July 1, 2025.

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Why Bullish?

The addition of experienced directors is expected to strengthen strategic direction, potentially boosting investor confidence. Historically, companies that enhance governance see improved stock performance.

How important is it?

The leadership change at OFED is highly relevant as it reflects potential growth strategies and market adaptation, influencing future performance.

Why Long Term?

New directors' impact may take time to manifest; however, strategic governance can drive long-term value. Similar past instances show gradual benefits from leadership changes in regional banks.

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OTCQX: OFEDOTCQX: FISINASDAQ: CCBG
- SENECA, S.C.--(BUSINESS WIRE)--Oconee Federal Financial Corp. (OTCQX: OFED) (“the Company”) and its subsidiary, Oconee Federal Savings and Loan Association (“Oconee Federal”), have appointed John W. Hobbs and Bill Barker as directors of each of the Company and Oconee Federal, effective July 1, 2025. Mr. Hobbs is currently the Executive Vice President and Chief Financial Officer of the Company and Oconee Federal, which he joined in 2017 as Senior Vice President and Chief Financial Officer. Mr. Hobbs has served as the Chief Financial Officer for multiple financial institutions and their holding companies located in South Carolina as part of a career that has included over 30 years in the banking industry. Mr. Barker is the Senior Vice President and Senior Credit Officer of Oconee Federal, and was appointed to those positions in 2015. Mr. Barker has over 50 years of banking experience, and is accomplished in lending, asset management and business development and has an extensive knowledge of the South Carolina marketplace. Curtis T. Evatt, Oconee Federal’s President and Chief Executive Officer, said, “We are excited to add John Hobbs and Bill Barker to our boards of directors. They each bring extensive experience in the banking industry, particularly in our market areas, and we are confident that they will greatly assist the boards of directors in our representation of Oconee, our shareholders, customers, employees, our community and other stakeholders in our organization.” More News From Oconee Federal Financial Corp.

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