Oconee Financial Corporation Reports Fourth Quarter 2022 Results

February 10, 2023

WATKINSVILLE, Ga., Feb. 10, 2023 /PRNewswire/ — Oconee Financial Corporation (“Oconee”) (OTCQX: OSBK) is pleased to report results for the fourth quarter of 2022.  Unaudited net income for the three months ending December 31, 2022, was $1,271,602 or $1.42 per common share.  This compares to $708,199 or $0.79 per common share for the fourth quarter of the prior year, an increase of 79.6%.  The increase in net earnings for the fourth quarter 2022 was mainly attributable to an increase in net interest income of $852,000 compared to the same period of 2021.  This was mainly due to increases in interest income on investments of $660,000 and interest income on interest-bearing bank balances of $395,000.

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