Magnolia Bancorp members approve mutual-to-stock conversion; offering closed Dec 17, close expected early Jan 2025

Magnolia Bancorp, Inc.

Members approved plan to convert Mutual Savings and Loan from mutual to stock savings association; new charter and bylaws adopted.
Subscription and community offering closed on December 17, 2024; final share count based on appraisal and regulatory approval.
Conversion and stock offering expected to close in early to mid-January 2025, subject to final regulatory approvals.
Common stock expected to be quoted on OTCQB Market; Keefe, Bruyette & Woods acted as selling agent.
Stock Information Center at 1-877-643-8217 for order fulfillment details after final approvals.

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