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Magnolia Bancorp (MGNO) operates primarily through its subsidiary, Mutual Savings and Loan Association, focusing on community-oriented financial services. The company primarily engages in providing banking services, with a strong emphasis on residential mortgage lending. MGNO offers a variety of loan products and deposit accounts to its customers.
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Loan Portfolio - Offers a range of loans including one-to-four-family residential mortgage loans, residential construction loans, home equity loans, commercial real estate loans, multi-family residential loans, and share loans secured by deposit accounts.
- One-to-four-family residential mortgage loans - Focuses on fixed-rate loans retained in the portfolio.
- Residential construction loans - Originated alongside residential mortgage loans.
- Home equity loans and lines of credit - Available to customers but less significant compared to residential loans.
- Commercial real estate loans and multi-family residential loans - Originated to a lesser extent, with plans to increase emphasis.
- Share loans - Secured by deposit accounts at Mutual Savings and Loan Association.
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Deposit Accounts - Attracts deposits from the general public, offering products such as checking accounts, NOW accounts, and certificates of deposit.
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Non-Interest Income - Includes service charges on deposits and lending-related fees derived from account maintenance, transaction-based services, wire transfers, check processing, and insufficient funds/overdraft transactions.
| Name | Position | External Roles | Short Bio | |
|---|---|---|---|---|
Anita C. Cambre ExecutiveBoard | Vice President, Secretary, and Chief Financial Officer | Anita C. Cambre is the Vice President, Secretary, and Chief Financial Officer of Mutual Savings and Loan Association since May 2023. She joined as a Senior Accountant in May 2022 and previously served as Controller and General Manager at CounterTop Factory from October 2017 to May 2022. | ||
Michael L. Hurley ExecutiveBoard | Chairman, President, and Chief Executive Officer | Michael L. Hurley has been a pivotal leader at MGNO since its conversion to stock form in January 2025, serving as Chairman, President, and CEO. He brings extensive banking experience from his long tenure at Mutual Savings and Loan Association, where he has held key leadership roles since 1984. | View Report → | |
Jason L. Manson Board | Director | Director at Mutual Savings and Loan Association ; Vice President at Larry Loyd Construction Co., Inc. | Jason L. Manson has served as Director at Magnolia Bancorp, Inc. since 2012. He also acts as Trustee of the Magnolia Bancorp, Inc. Employee Stock Ownership Plan since April 24, 2025 and has held external roles including Vice President of Larry Loyd Construction Co., Inc. since April 2016. | |
John H. Andressen Board | Vice Chairman | Director at Mutual Savings and Loan Association | John H. Andressen has been a director at Magnolia Bancorp since 1997 and was appointed Vice Chairman on March 28, 2025. Previously, he served as Manager of PJ's Coffee of New Orleans from July 2015 to March 2023. | |
Peyton B. Burkhalter Board | Director | Attorney at Law Office of Peyton Burkhalter; General Contractor at DEPP Construction Company LLC | Peyton B. Burkhalter has served as a Director for Magnolia Bancorp, Inc. since 2012. He is also a practicing attorney at the Law Office of Peyton Burkhalter since October 1995 and a general contractor at DEPP Construction Company LLC since April 2003. | |
Robert M. Hurley Board | Director | Director at Mutual Savings and Loan Association ; Owner of Hurley Homes, LLC | Robert M. Hurley has served as a Director at Magnolia Bancorp, Inc. since 1996 and as a member of the Audit Committee, contributing to financial oversight. He is also the Owner of Hurley Homes, LLC since 2003, leveraging his local real estate expertise. |
No recent press releases or 8-K filings found for MGNO.