Oconee Federal Financial Corp. Announces Board and Leadership Transition

SENECA, S.C.--(BUSINESS WIRE)--Oconee Federal Financial Corp. (OTCQX: OFED) (the “Company”), the holding company for Oconee Federal Savings and Loan Association (“Oconee Federal”), today announced leadership actions approved by the Boards of Directors of the Company and Oconee Federal on June 25, 2026. Curtis T. Evatt has been elected Chairman of the Boards of Directors of both the Company and Oconee Federal. Mr. Evatt will continue to serve as Chief Executive Officer of Oconee Federal and President and Chief Executive Officer of the Company. Mr. Evatt succeeds Robert N. McLellan, Jr., who previously served as Chairman of the Boards of Directors of both the Company and Oconee Federal. In addition, David H. Stafford has been elected President of Oconee Federal.

Mr. McLellan will continue to serve as a member of the Boards of Directors of the Company and Oconee Federal. "We are fortunate that Mr. McLellan will continue serving on our Boards. His experience, judgment, and historical knowledge of the organization will remain tremendous assets as we move forward," said Mr. Evatt.

"Mr. Stafford has played an important role in Oconee Federal's growth and success, and his election as President reflects the confidence our Board has in his leadership. This transition positions Oconee Federal well for the future while maintaining the continuity, local decision-making, and customer focus that have defined our organization for more than a century," Mr. Evatt added.

The Board's actions are part of the Company's ongoing succession planning process and are intended to support the continued growth and long-term strategic objectives of the Company. The transitions reflect the Board's commitment to developing executive leadership, and ensuring continuity for customers, employees, shareholders, and the communities served by the Company and Oconee Federal.

About Oconee Federal

Oconee Federal Financial Corp. (OTCQX: OFED) is the holding company of Oconee Federal Savings and Loan Association. Oconee Federal Savings and Loan Association is a federally chartered savings and loan association founded in 1924 and headquartered in Seneca, South Carolina. Oconee Federal Savings and Loan Association is a community oriented financial institution operating eight full-service branch locations in Oconee County, South Carolina, Pickens County, South Carolina, Darlington County, South Carolina, Stephens County, Georgia and Rabun County, Georgia.

For financial information, please access our investor information page on our website at www.oconeefederal.com.

Forward-Looking Statements

This release contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that are based on current expectations, estimates and projections about the Company’s and the Association’s industry, and management’s beliefs and assumptions. Words such as anticipates, expects, intends, plans, believes, estimates and variations of such words and expressions are intended to identify fiscal year forward-looking statements. Such statements are not guarantees of future performance and are subject to certain risks, uncertainties and assumptions that are difficult to forecast. Therefore, actual results may differ materially from those expressed or forecast in such forward-looking statements. The Company undertakes no obligation to update publicly any forward-looking statements, whether as a result of new information or otherwise.