Magnolia Bancorp names Robert Kimbro President/CEO; Hurley becomes Executive Chair

Magnolia Bancorp, Inc.

Michael Hurley, 78, steps down as President/CEO of Magnolia and Mutual Savings effective June 1, 2026; becomes Executive Chair.
Robert Kimbro, 68, CPA and former Ernst & Young partner, appointed President/CEO with $175,000 base salary.
Hurley's salary reduced from $295,620 to $175,000 to offset successor costs; new Executive Committee formed.
Shareholders at May 28, 2026 annual meeting elected directors Andressen and Burkhalter and ratified Mauldin & Jenkins as auditor.

item 5.02 item 5.07 item 7.01 item 9.01

Executive movements

Machine-extracted from this filing. Every card cites the SEC source. See all recent executive movements.

Appointed

Robert W. Kimbro

President and Chief Executive Officer

MGNO · Magnolia Bancorp, Inc.

Effective: 2026-06-01
Filed: June 1, 2026, 2:15 PM ET

On May 28, 2026, both the Company and the Association appointed Robert W. Kimbro as their President and Chief Executive Officer effective as of June 1, 2026.

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.95

Robert W. Kimbro was appointed as President and Chief Executive Officer at Magnolia Bancorp, Inc..

Action: appointed
Role: President and Chief Executive Officer

Exact text from the filing

On May 28, 2026, both the Company and the Association appointed Robert W. Kimbro as their President and Chief Executive Officer effective as of June 1, 2026.

View on SEC.gov

Shareholder Votes SEC 8-K Item 5.07 confidence 0.9

Magnolia Bancorp, Inc. shareholders approved To ratify the appointment of Mauldin & Jenkins, LLC as the Company's independent registered public accounting firm for the year ending December 31, 2026 at the 2026-05-28 meeting.

Proposal: auditor ratification
Outcome: passed
Meeting: 2026-05-28

Exact text from the filing

To ratify the appointment of Mauldin & Jenkins, LLC as the Company’s independent registered public accounting firm for the year ending December 31, 2026. For Against Abstain 519,701 70,599 725

View on SEC.gov

Shareholder Votes SEC 8-K Item 5.07 confidence 0.9

Magnolia Bancorp, Inc. shareholders approved Election of directors for a three-year term at the 2026-05-28 meeting.

Proposal: director election
Outcome: passed
Meeting: 2026-05-28

Exact text from the filing

Election of directors for a three-year term: For Withheld Broker Non-votes John H. Andressen 445,969 12,300 132,756 Peyton B. Burkhalter 445,969 12,300 132,756

View on SEC.gov

Browse all shareholder votes →

Magnolia Bancorp, Inc. filing history →

Source: SEC EDGAR

accession 0000927089-26-000101

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.