Marathon Bancorp Inc 2026年季度报告

MARATHON BANCORP,INC. Indicate by check mark whether the registrant (1)has filed all reports required to be filed by Section13 or 15(d)of theSecurities Exchange Act of 1934 during the preceding 12months (or for such shorter period that the registrant was Yes⌧No Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to besubmitted pursuant to Rule405 of Regulation S-T (§232.405 of this chapter) during the preceding 12months (or for such Yes⌧No☐ Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer,smaller reporting company, or an emerging growth company. See definitions of “large accelerated filer,” “accelerated If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transitionperiod for complying with any new or revised financial accounting standards provided pursuant to Section7(a)(2)(B)of Indicate by check mark whether the registrant is a shell company (as defined in Rule12b-2 of the Act). Yes☐No⌧Indicate the number of shares outstanding of each of the issuer’s classes of common stock, as of the latest practical date: MARATHON BANCORP,INC.INDEX PARTI- FINANCIAL INFORMATION Item2.Management’s Discussion and Analysis of Financial Condition and Results ofOperations36 PARTI- FINANCIAL INFORMATIONItem1. Consolidated Financial Statements Table of Contents MARATHON BANCORP, INC.CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME December31,20252024Net Income$501,396$51,127Other comprehensive income (a)The reclassification adjustment is reflected in the Consolidated Statements of Income as InterestIncome-Debt Securities. See accompanying notes to the consolidated financial statements. (a)The reclassification adjustment is reflected in the Consolidated Statements of Income as InterestIncome-Debt Securities. See accompanying notes to the consolidated financial statements. (1)Share amounts related to periods prior to the April 21, 2025 closing of the conversion offering havebeen restated to give retroactive recognition to the1.3728exchange ratio applied in the conversion See accompanying notes to the consolidated financial statements. Table of Contents MARATHON BANCORP, INC.NOTES TO CONSOLIDATED FINANCIAL STATEMENTS Note1- Basis of Presentation Marathon Bancorp,Inc. (the “Company” or “Marathon Bancorp”), a Maryland corporation, wasformed in December 2020 to serve as the mid-tier holding company for Marathon Bank (the “Bank”) upon On April14, 2021, the Bank completed its reorganization into the mutual holding companystructure and the related stock offering of the Company, the Bank’s new holding company. As a result ofthe reorganization, the Bank became a wholly-owned subsidiary of the Company, the Company issued andsold45.0% of its outstanding shares of common stock in its stock offering to the public, and the Company On April 21, 2025, the Company completed its conversion from the mutual holding companyform of organization to the stock holding company form of organization (the "Conversion"). In connectionwith the Conversion, the Mutual Holding Company ceased to exist. Also, as part of the Conversion, theCompany sold1,693,411shares of its common stock, which included135,472shares issued to theEmployee Stock Ownership Plan (“ESOP”) at a price of $10.00per share to the public. Each outstanding The Company generated gross proceeds of $16.9million from the Conversion. Offering expensesin connection with the Conversion were $1.7million which were netted against the gross proceeds. In connection with the Conversion, the Company provided a term loan to the ESOP to finance theESOP’s purchase of the135,472shares noted above. The Company combined its existing outstandingESOP loan in the amount of $777,212with this new loan resulting in a new term loan to the ESOP of Finally, as a result of the Conversion, all existing stock options and restricted stock awardsoutstanding on April 21, 2025 were adjusted based on the exchange ratio of1.3728-to-1. All historical The Bank is a Wisconsin stock savings bank, which conducts its business throughfivefacilities.The Bank operates as a full-service financial institution with a primary market area including, but notlimited to, Marathon County, Ozaukee County and Waukesha County, Wisconsin. Its primary depositproducts are demand deposits, savings, and certificates of deposits; and its primary lending products arecommercial real estate, commercial and industrial, construction, one-to-four-family residential, multi- The accompanying unaudited consolidated financial statements have been prepared in accordancewith U.S. generally accepted accounting principles (“U.S. GAAP”) for interim financial information.Accordingly, they do not include all of the information and footnotes required by U.S. GAAP for completefinancial statements. The preparation of financial statements in conformity with U.S. GA