Press Release August 8, 2023

Oconee Financial Completes Acquisition of Elberton Federal Savings & Loan Association and Related Common Stock Offering

Alston & Bird represented Oconee Financial – the holding company for Oconee State Bank, a $520 million asset community bank based in Watkinsville, Georgia – in its acquisition of Elberton Federal Savings & Loan Association and its related common stock offering.

The acquisition closed on July 31. As a result of the conversion merger, Elberton Federal Savings & Loan Association converted from a mutual savings association to a stock savings association and immediately merged with and into Oconee State Bank. 

The Alston & Bird team representing Oconee Financial is led by partners Patrick Hanchey and Mark Kanaly, senior associate J.P. Mahoney, and associates Jordan Jensen, Lizzie Dunn, and Skyler Green (Financial Services & Products); partners Brian Harvel and Scott Harty and counsel Jack Cummings (Federal & International Tax); partner Brett Coburn (Labor & Employment); and counsel Kerry Wenzel (Compensation, Benefits & ERISA Litigation). 

Media Contact
Alex Wolfe
Communications Director

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