The boards of Oconee Financial Corporation and Elberton Federal Savings & Loan Association announced the commencement of the required offering of OSBK common stock in connection with the pending merger of Elberton Federal and Oconee State Bank, a wholly owned subsidiary of Oconee Financial Corporation.

As previously announced, the transaction is structured as a merger conversion, whereby Elberton Federal, a federal mutual savings association, will convert to stock form and then immediately merge with and into Oconee State Bank. As part of the transaction, Oconee is now offering a set number of shares of its common stock to eligible members of Elberton Federal, Oconee shareholders of record as of April 30, 2023, and possibly others, in a subscription offering and a community offering.

Oconee has scheduled community meetings in Elberton and Watkinsville in the coming weeks to provide interested investors with further details about this investment opportunity. For meeting times and to make a reservation, or to receive an offering circular in advance of attending a meeting, interested individuals should contact the Oconee Financial Corporation Stock Information Center, at (312) 521-1600, Monday through Friday, 10:00 a.m. to 5 p.m. Eastern Time.