The board of Seneca, S.C.-based Oconee Federal Financial Corp. (MHC) authorized the repurchase of up to 100,000, or about 1.7%, of the company's issued and outstanding common shares.

Repurchases can be made through open-market purchases, block trades and negotiated private transactions.

The company terminated its previous share repurchase program, which authorized the company to repurchase up to 175,000 of its common shares. The company repurchased 174,747 of its shares at a weighted average price of $22.64 per share under the previous program.