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Magnolia Bancorp CFO Wagner resigns; Hurley named CEO, Kimbro CFO effective Aug 21
Donice Wagner, EVP, CFO and Secretary, resigns effective Aug 21, 2026, to return to consulting practice.
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Magnolia Bancorp names Robert Kimbro President/CEO; Hurley becomes Executive Chair
Michael Hurley, 78, steps down as President/CEO of Magnolia and Mutual Savings effective June 1, 2026; becomes Executive Chair.
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Magnolia Bancorp replaces EisnerAmper with Mauldin & Jenkins as auditor for 2026
On Jan 22, 2026, company notified EisnerAmper LLP it would not be re-hired for 2026; EisnerAmper will complete the 2025 audit.
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Magnolia Bancorp announces first stock repurchase program of up to 33,350 shares
Board approved repurchase of up to 33,350 shares (4.0% of outstanding) starting Jan 15, 2026.
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Magnolia Bancorp appoints Donice Wagner as CFO; Anita Cambre resigns but remains director
Anita Cambre resigned as VP, CFO and Secretary effective Sept 18, 2025; remains a director.
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Magnolia Bancorp amends bylaws on electronic proxies, sets annual meeting
Board adopted Amendment No. 1 to Bylaws effective July 24, 2025, clarifying shareholders may submit proxies by electronic transmission if authorization is verifiable.
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Magnolia Bancorp completes mutual-to-stock conversion, raises $8.3M in IPO
Sold 833,750 shares at $10.00/share, including 66,700 to ESOP, for ~$8.3M gross proceeds.
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Magnolia Bancorp gets final regulatory OK; OTCQB listing set for Jan 15
Final regulatory approvals received; conversion and IPO expected to close Jan 14, 2025.
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Magnolia Bancorp members approve mutual-to-stock conversion; offering closed Dec 17, close expected early Jan 2025
Members approved plan to convert Mutual Savings and Loan from mutual to stock savings association; new charter and bylaws adopted.