AGREEMENT AND PLAN OF MERGER By and Among OCONEE FEDERAL, MHC, OCONEE FEDERAL FINANCIAL CORP., OCONEE FEDERAL SAVINGS AND LOAN ASSOCIATION And STEPHENS FEDERAL BANK Dated as of February 26, 2014Merger Agreement • February 27th, 2014 • Oconee Federal Financial Corp. • Savings institution, federally chartered • South Carolina
THIS AGREEMENT AND PLAN OF MERGER (this “Agreement”), dated as of February 26, 2014, is by and between (i) Oconee Federal, MHC, a federally chartered mutual holding company (“Oconee MHC”), Oconee Federal Financial Corp., a federally chartered subsidiary savings and loan holding company corporation (“OFED”), and Oconee Federal Savings and Loan Association, a federally chartered stock savings association (“Oconee Federal”), and (ii) Stephens Federal Bank, a federally chartered mutual savings association (“Stephens Federal”). Each of Oconee MHC, OFED, Oconee Federal and Stephens Federal is sometimes individually referred to herein as a “party,” and Oconee MHC, OFED, Oconee Federal and Stephens Federal are collectively sometimes referred to as the “parties.”
