JEFFERSONVILLE, N.Y., Aug. 31, 2026 (GLOBE NEWSWIRE) -- Jeffersonville Bancorp, Inc. (OTCQB - JFBC) (the "Company"), the holding company for Jeff Bank (the "Bank"), announced today that the Bank has completed all requirements to convert from a New York State to a national banking charter. The conversion will become effective at the opening of business on Tuesday, September 1, 2026. At such time, the Bank will operate under the name Jeff Bank, National Association but will continue to operate under the trade name "Jeff Bank".
The Company expects that the charter conversion will not have a significant impact on the Bank's current activities or investments and will not affect the terms and conditions of loan and deposit accounts.
George W. Kinne, Jr., President and CEO of the Bank, stated: "We are pleased to begin operating under a national charter. Our pre-conversion exam experience confirmed that the regulatory oversight of the OCC will be similar to what we have received in the past but without the duplication of efforts that occurs with separate state and federal regulators. In addition, the national charter provides preemption of state laws, which will improve our competitive position since our branches border two other states."
As a result of the charter conversion, the OCC will be the Bank's primary regulator, and the Bank will become a member of the Federal Reserve Bank system. The Federal Reserve Board will continue to be the primary banking regulator for Jeffersonville Bancorp.
Jeffersonville Bancorp is a one-bank holding company, which owns all the capital stock of Jeff Bank. Jeff Bank maintains ten full-service branches in Sullivan and Orange County, New York located in Anawana Lake Road/Monticello, Eldred, Callicoon, Jeffersonville, Liberty, Livingston Manor, Monticello, Port Jervis, White Lake, and Wurtsboro.
For More Information, call: 845-482-4000
Contact: George W. Kinne, Jr. - CEO
