ADDED
As of September 25, 2025, there were 2,938,698 shares of the registrant s common stock issued and outstanding.
As a result of the reorganization, the Bank became a wholly-owned subsidiary of the Company, the Company issued and sold 45.0% of its outstanding shares of common stock in its stock offering to the public, and the Company issued 55.0% of its outstanding shares of common stock to Marathon MHC ( Mutual Holding Company ), which was the Company s mutual holding company.
On April 21, 2025, the Company completed its conversion from the mutual holding company form of organization to the stock holding company form of organization (the "Conversion").
In connection with the Conversion, the Mutual Holding Company ceased to exist.
Also, as part of the Conversion, the Company sold 1,693,411 shares of its common stock (which included 135,472 shares issued to the Employee Stock Ownership Plan ( ESOP )) at a price of $10.00 per share to the public.
Each outstanding share of Company common stock owned by the public stockholders of the Company (stockholders other than the Mutual Holding Company) were converted into new shares of Company common stock based on an exchange ratio of 1.3728-to-1.
Following the completion of the Conversion, the Company s shares of common stock began trading on the Nasdaq Capital Market under the trading symbol MBBC.
The Company generated gross proceeds of $16.9 million from the Conversion.
Offering expenses in connection with the Conversion were $1.7 million which were netted against the gross proceeds.
In connection with the Conversion, the Company provided a term loan to the ESOP to finance the ESOP s purchase of the 135,472 shares noted above.
REMOVED
As of September 25, 2024, there were 2,135,412 shares of the registrant s common stock issued and outstanding.
As a result of the reorganization, the Bank became a wholly-owned subsidiary of the Company, the Company issued and sold 45.0% of its outstanding shares in its stock offering to the public, and the Company issued 55.0% of its outstanding shares to Marathon MHC, which is the Company s mutual holding company.
The Company s common stock is quoted on the OTC Pink Marketplace under the trading symbol MBBC.
BUSINESS OF MARATHON MHC Marathon MHC was formed as a Wisconsin-chartered mutual holding company and will at all times own a majority of the outstanding shares of Marathon Bancorp s common stock.
Depositors of Marathon Bank are members of Marathon MHC and have voting rights in the affairs of Marathon MHC.
Marathon MHC s principal assets are the common stock of Marathon Bancorp it received in the reorganization and offering and $100,000 cash in initial capitalization, which was contributed by Marathon Bank.
Presently, it is expected that the only business activity of Marathon MHC will be to own a majority of Marathon Bancorp s common stock.
Marathon MHC will be authorized, however, to engage in any other business activities that are permissible for mutual holding companies under state and federal law, including investing in loans and securities.
Marathon MHC is subject to comprehensive regulation and examination by the Federal Reserve Board and the WDFI.
Marathon MHC currently employs only persons who are officers of Marathon Bank to serve as officers of Marathon MHC.