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”).
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.
