Magnolia Bancorp, Inc.

Magnolia Bancorp, Inc. operates as the savings and loan holding company for Mutual Savings and Loan Association, offering community banking services primarily to retail customers. The institution focuses its lending activities on originating fixed-rate one-to-four family residential mortgage loans, with a particular specialization in bi-weekly payment mortgages. It also provides residential construction loans, home equity loans, and deposit-secured share loans. In addition to credit products, the company gathers retail deposits through checking accounts, savings accounts, and certificates of deposit, though it does not provide electronic or online banking services.

The company conducts its operations through two banking offices in southeastern Louisiana, consisting of a main office in Jefferson Parish and a single branch location in St. Tammany Parish. Its primary market area spans Jefferson and St. Tammany Parishes, which are bedroom communities of the New Orleans metropolitan area, while also extending lending into neighboring parishes. Magnolia Bancorp maintains its headquarters at the main office facility in Metairie, Louisiana.

Summary of the business section of Magnolia Bancorp's latest annual report, written by StockData.