The board of directors of Oconee Financial Corporation, the holding Company of Oconee State Bank, announced that the company has applied to trade on the OTCQX Best Market. Companies applying for OTCQX must meet high financial standards, follow best practice corporate governance, demonstrate compliance with U.S. securities laws, and have a professional third-party sponsor introduction. Oconee Financial Corp. was not previously traded on a market and was only available through private sales between shareholders. No new shares of stock will be issued as a part of this process, but the company anticipates most of its existing shareholders will convert their existing physical stock certificates to electronic certificates, allowing for electronic trading between existing and potential new shareholders.

“Our shareholders are increasingly seeking the ability to get earnings information on the bank, determine the value of their shares, and buy and sell more quickly,” said Oconee State Bank President and CEO Neil Stevens. “This transition will make it easier for our shareholders to buy and sell our stock through a broker, provide easy access to information, and remove a burden from our current employees without the expense of us becoming an exchange traded company.”

Oconee State Bank is Oconee County’s only locally headquartered community bank, and just one of three remaining locally owned banks in the Athens-Clarke MSA. With assets of more than $350 million, the bank has branches and loan production offices in Oconee, Athens-Clarke, and Gwinnett counties.