EMPLOYMENT AGREEMENT BY AND AMONG MAGNOLIA BANCORP, INC., MUTUAL SAVINGS ANND LOAN ASSOCIATION AND MICHAEL l. HURLEYEmployment Agreement • August 27th, 2024 • Magnolia Bancorp, Inc. • Louisiana
THIS EMPLOYMENT AGREEMENT (the “Agreement”), dated as of May 16, 2024, is by and among Magnolia Bancorp, Inc., a Louisiana corporation (the “Corporation”), Mutual Savings and Loan Association, a federally-chartered savings association (the “Association” and collectively with the Corporation, the “Employers”), and Michael L. Hurley (the “Executive”).
Magnolia Bancorp, Inc. (a Louisiana corporation) Up to 833,750 Shares of Common Stock (Subject to Increase to 958,813 Shares of Common Stock) COMMON STOCK (Par Value $0.01 Per Share) Subscription Price $10.00 Per Share AGENCY AGREEMENT November __, 2024Agency Agreement • October 9th, 2024 • Magnolia Bancorp, Inc. • Savings institution, federally chartered
Magnolia Bancorp, Inc., a Louisiana corporation (“Magnolia Bancorp”) and Mutual Savings and Loan Association, a federally-chartered mutual savings and loan association (“Mutual Savings”) (collectively Magnolia Bancorp and Mutual Savings are the “Mutual Savings Parties”) hereby confirm, jointly and severally, their agreement with Keefe, Bruyette & Woods, Inc. (“KBW” or the “Agent”), as follows:
Mr. Michael L. Hurley Chairman, President & CEO Mutual Savings and Loan Association Metairie, Louisiana 70570 Dear Mr. Hurley:Magnolia Bancorp, Inc. • August 27th, 2024
This letter sets forth the agreement between Mutual Savings and Loan Association, Metairie, Louisiana (the “Association”), whereby the Association has engaged RP Financial to provide the conversion appraisal services in conjunction with the proposed standard stock conversion transaction. The scope, timing and fee structure for these appraisal services are described below.
