-
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.
-
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.
-
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.
-
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.
-
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.