Oconee Federal Financial Corp. Announces Quarterly Financial Results
Oconee Federal Financial Corp. (OFED) reported net income of $978 thousand ($0.17 per diluted share) for Q4 2024, significantly higher than $320 thousand ($0.06 per diluted share) in Q4 2023. The company's total assets decreased by 1.13% to $658.1 million from $665.6 million in June 2024, while total loans increased to $472.5 million from $469.7 million.
The company maintained its tradition of paying quarterly dividends, marking its 53rd consecutive quarterly dividend of $0.10 per share since December 2011. The stock's book value and tangible book value were $13.64 and $13.19, respectively. The improved earnings were attributed to better interest margins compared to Q4 2023, despite slight decreases in assets due to paying down Federal Home Loan Bank borrowings and deposit fluctuations.
Oconee Federal Financial Corp. (OFED) ha riportato un reddito netto di 978 mila dollari (0,17 dollari per azione diluita) per il quarto trimestre del 2024, significativamente superiore ai 320 mila dollari (0,06 dollari per azione diluita) registrati nel quarto trimestre del 2023. Gli attivi totali della società sono diminuiti dell'1,13%, passando a 658,1 milioni di dollari da 665,6 milioni di dollari a giugno 2024, mentre i prestiti totali sono aumentati a 472,5 milioni di dollari da 469,7 milioni di dollari.
La società ha mantenuto la tradizione dei dividendi trimestrali, segnando il suo 53° dividendo trimestrale consecutivo di 0,10 dollari per azione dal dicembre 2011. Il valore contabile delle azioni e il valore contabile tangibile erano rispettivamente di 13,64 dollari e 13,19 dollari. Aumenti dei guadagni sono stati attribuiti a migliori margini di interesse rispetto al quarto trimestre del 2023, nonostante lievi diminuzioni degli attivi dovute al pagamento dei prestiti della Federal Home Loan Bank e delle fluttuazioni dei depositi.
Oconee Federal Financial Corp. (OFED) reportó un ingreso neto de 978 mil dólares (0,17 dólares por acción diluida) para el cuarto trimestre de 2024, significativamente más alto que los 320 mil dólares (0,06 dólares por acción diluida) en el cuarto trimestre de 2023. Los activos totales de la compañía disminuyeron en un 1,13% a 658,1 millones de dólares desde 665,6 millones de dólares en junio de 2024, mientras que los préstamos totales aumentaron a 472,5 millones de dólares desde 469,7 millones de dólares.
La compañía mantuvo su tradición de pagar dividendos trimestrales, marcando su 53.º dividendo trimestral consecutivo de 0,10 dólares por acción desde diciembre de 2011. El valor contable de las acciones y el valor contable tangible fueron de 13,64 y 13,19 dólares, respectivamente. Las ganancias mejoradas se atribuyeron a mejores márgenes de interés en comparación con el cuarto trimestre de 2023, a pesar de ligeras disminuciones en los activos debido al pago de préstamos de la Federal Home Loan Bank y las fluctuaciones en los depósitos.
오코니 연방 금융 주식회사 (OFED)는 2024년 4분기에 97만 8천 달러 (희석 주당 0.17달러)의 순이익을 보고했으며, 이는 2023년 4분기 32만 0천 달러 (희석 주당 0.06달러)보다 크게 증가한 수치입니다. 회사의 총 자산은 2024년 6월 6억 5,560만 달러에서 6억 5,810만 달러로 1.13% 감소했으며, 총 대출은 4억 6,970만 달러에서 4억 7,250만 달러로 증가했습니다.
회사는 2011년 12월 이후 53번째 연속 분기배당금인 주당 0.10달러를 지급하는 전통을 유지했습니다. 주식의 장부 가치와 실질 장부 가치는 각각 13.64달러와 13.19달러였습니다. 개선된 수익은 2023년 4분기 대비 더 나은 이자 마진 덕분으로, 연방주택대출은행의 대출을 갚고 예금의 변동성으로 인해 자산이 다소 감소한 것에도 불구하고 이루어졌습니다.
Oconee Federal Financial Corp. (OFED) a déclaré un revenu net de 978 mille dollars (0,17 dollar par action diluée) pour le quatrième trimestre 2024, nettement supérieur aux 320 mille dollars (0,06 dollar par action diluée) du quatrième trimestre 2023. Les actifs totaux de la société ont diminué de 1,13 % pour atteindre 658,1 millions de dollars contre 665,6 millions de dollars en juin 2024, tandis que les prêts totaux ont augmenté à 472,5 millions de dollars contre 469,7 millions de dollars.
La société a maintenu sa tradition de paiements de dividendes trimestriels, marquant son 53e dividende trimestriel consécutif de 0,10 dollar par action depuis décembre 2011. La valeur comptable de l'action et la valeur comptable tangible étaient respectivement de 13,64 dollars et 13,19 dollars. L'amélioration des bénéfices a été attribuée à de meilleurs marges d'intérêts par rapport au quatrième trimestre 2023, malgré de légères baisses d'actifs dues au remboursement des emprunts de la Federal Home Loan Bank et aux fluctuations des dépôts.
Oconee Federal Financial Corp. (OFED) meldete für das vierte Quartal 2024 einen Nettogewinn von 978.000 Dollar (0,17 Dollar pro verwässerter Aktie), was deutlich höher ist als die 320.000 Dollar (0,06 Dollar pro verwässerter Aktie) im vierten Quartal 2023. Die Gesamtaktiva des Unternehmens sanken um 1,13 % auf 658,1 Millionen Dollar von 665,6 Millionen Dollar im Juni 2024, während sich die Gesamtdarlehen auf 472,5 Millionen Dollar von 469,7 Millionen Dollar erhöhten.
Das Unternehmen hielt die Tradition der vierteljährlichen Dividenden aufrecht und zahlte die 53. aufeinanderfolgende vierteljährliche Dividende von 0,10 Dollar pro Aktie seit Dezember 2011. Der Buchwert der Aktie und der tangible Buchwert betrugen 13,64 Dollar bzw. 13,19 Dollar. Die verbesserten Erträge wurden aufgrund besserer Zinsmargen im Vergleich zum vierten Quartal 2023 erzielt, obwohl es geringfügige Rückgänge bei den Aktiva gab, die auf die Tilgung von Darlehen der Federal Home Loan Bank und die Schwankungen der Einlagen zurückzuführen sind.
- Net income increased significantly from $320K to $978K year-over-year
- Total loans grew to $472.5M from $469.7M
- Maintained strong capital ratios
- Consistent quarterly dividend payment of $0.10 per share
- Total assets decreased 1.13% to $658.1M
- Slight decrease in deposits
December 31, 2024 Quarter End Summary:
-
Fifty-three consecutive quarterly dividends of
$0.10 -
Total assets were
$658.1 million 1.13% from$665.6 million -
Total loans outstanding were
$472.5 million $469.7 million -
At December 31, 2024, our stock book value and tangible book value were
$13.64 $13.19
“The quarter ended December 31, 2024 was a good quarter for Oconee Federal. Although our assets decreased slightly due to our paying down Federal Home Loan Bank borrowings coupled with a slight decrease in our deposits, both of which we consider to be routine fluctuations, our earnings increased due to an improved interest margin when compared to the quarter ended December 31, 2023,” stated Curtis T. Evatt, President and Chief Executive Officer. “As always, our capital ratios remain among some of the highest in the industry and we are looking forward to the opportunity of providing the best products and services to our customers in the coming year.”
Cash Dividend Declared and Paid
Total dividends paid during the quarter ended December 31, 2024 were
About Oconee Federal
Oconee Federal Financial Corp. (OTCQX: OFED) is the holding company of Oconee Federal Savings and Loan Association. Oconee Federal Savings and Loan Association is a federally chartered savings and loan association founded in 1924 and headquartered in
For financial information, please access our investor information page on our website at www.oconeefederal.com.
Forward-Looking Statements
This release contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that are based on current expectations, estimates and projections about the Company’s and the Association’s industry, and management’s beliefs and assumptions. Words such as anticipates, expects, intends, plans, believes, estimates and variations of such words and expressions are intended to identify fiscal year forward-looking statements. Such statements are not guarantees of future performance and are subject to certain risks, uncertainties and assumptions that are difficult to forecast. Therefore, actual results may differ materially from those expressed or forecast in such forward-looking statements. The Company undertakes no obligation to update publicly any forward-looking statements, whether as a result of new information or otherwise.
View source version on businesswire.com: https://www.businesswire.com/news/home/20250117718948/en/
Investor/Media Contact:
Curtis T. Evatt
President & Chief Executive Officer
Oconee Federal Financial Corp.
201 East North Second Street
864-882-2765
Source: Oconee Federal Financial Corp.
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