Magnolia Bancorp completes mutual-to-stock conversion, raises $8.3M in IPO

Magnolia Bancorp, Inc.

Sold 833,750 shares at $10.00/share, including 66,700 to ESOP, for ~$8.3M gross proceeds.
Offering oversubscribed; valid subscription and local community orders fully filled.
Common stock expected to trade on OTCQB under ticker MGNO starting January 15, 2025.
Keefe, Bruyette & Woods acted as selling agent and financial advisor.

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