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Marathon Bancorp, Inc. /MD/
MBBCCIK 0001835385NasdaqEmerging GrowthSavings Institutions, Not Federally CharteredFY ends Jun 30
Period
FY 2025
Revenue
—
Net Income
$42.4K
Total Assets
$238.83M
Equity
$45.71M
Shares Out
2.94M
Op. Cash Flow
$1.45M
Business
Marathon Bancorp, Inc. is a bank holding company that owns Marathon Bank and conducts holding company activities while being authorized to pursue other bank-holding-company permitted businesses. It offers deposit products and services, commercial cash management and mobile banking, and originates and services a range of loans including commercial real estate, multifamily, one- to four-family residential, commercial and industrial, construction and consumer loans, and invests in debt and mortgage-backed securities. Its operations are organized between the holding company and its banking subsidiary (and related property subsidiaries) encompassing lending, deposit gathering and investment management. The company serves customers through a main office and branch network in Wisconsin, primarily the Wausau metropolitan area and expanded markets in Southeastern Wisconsin, and uses correspondent channels and the secondary market for loan sales and funding.
Summary from filing dated 2025-09-26
Financials
Consolidated Statement of Income
Year Ended · In millions, except per-share amounts
| Concept | Trend | FY 2025 2025-06-30 | FY 2024 2024-06-30 | FY 2023 2023-06-30 | FY 2022 2022-06-30 | FY 2021 2021-06-30 |
|---|---|---|---|---|---|---|
| Loans, including fees | 9 | 9 | 8 | 7 | 6 | |
| Debt securities | 168,587 | 214,056 | 249,518 | 331,106 | 361,565 | |
| Other | 733,458 | 579,115 | 546,398 | 67,202 | 32,463 | |
| Total interest income | 10 | 9 | 9 | 7 | 6 | |
| Deposits | 3 | 3 | 2 | 940,953 | 1 | |
| Borrowings and other | 468,706 | 648,430 | 102,623 | 6,814 | 41,606 | |
| Total interest expense | 4 | 4 | 2 | — | — | |
| Net Interest Income | 6 | 6 | 7 | 6 | 5 | |
| Provision for (Recovery of) Credit Losses | −93,833 | −190,000 | — | — | — | |
| Net Interest Income After Provision for (Recovery of) Credit Losses | 6 | 6 | 7 | 6 | 5 | |
| Service charges on deposit accounts | 114,155 | 125,175 | 153,069 | 165,495 | 168,016 | |
| Mortgage banking income | 291,416 | 325,530 | 351,377 | 689,334 | 2 | |
| Increase in cash value of life insurance | 269,888 | 248,587 | 236,420 | 224,580 | 164,667 | |
| Other income | 73,461 | 26,732 | 28,664 | 24,938 | 25,051 | |
| Total non-interest income | 748,920 | 726,024 | 1 | 1 | 2 | |
| Salaries and employee benefits | 4 | 3 | 3 | 3 | 3 | |
| Occupancy and equipment expenses | 915,109 | 857,613 | 730,989 | 710,842 | 670,954 | |
| Data processing and office | 450,058 | 448,520 | 400,918 | 393,768 | 463,131 | |
| Professional fees | 700,730 | 754,806 | 712,246 | 656,954 | 366,526 | |
| Marketing expenses | 42,183 | 61,234 | 87,179 | 77,626 | 62,586 | |
| FDIC insurance premiums | 95,799 | 127,000 | 62,400 | 78,142 | 89,347 | |
| Directors fees | 108,235 | 108,235 | 89,256 | 67,900 | 78,400 | |
| Foreclosed assets, net | 429,128 | 1 | — | — | — | |
| Other expenses | 487,448 | 527,788 | 505,093 | 435,103 | 361,808 | |
| Total non-interest expenses | 7 | 7 | 6 | 6 | 5 | |
| Income (Loss) Before Income Taxes (Benefit) | 10,890 | −246,102 | 2 | 2 | 2 | |
| Provision for (Benefit from) Income Taxes | −32,000 | −59,000 | 445,000 | 437,382 | 477,720 | |
| Net Income (Loss) | 42,445 | −186,994 | 2 | 1 | 1 | |
| Net income (loss) per common share-basic | 0.02 | −0.07 | 0.79 | 0.62 | 0.64 | |
| Net income (loss) per common share-diluted | 0.02 | −0.07 | 0.79 | 0.62 | 0.64 | |
| Weighted average number of common shares outstanding-basic | 3 | 3 | 2 | 2 | 2 | |
| Weighted average number of common shares outstanding-diluted | 3 | 3 | 2 | 2 | 2 |
Consolidated Balance Sheet
As of · In millions, except per-share amounts
| Concept | Trend | FY 2025 2025-06-30 | FY 2024 2024-06-30 | FY 2023 2023-06-30 | FY 2023 2023-03-31 | FY 2022 2022-12-31 |
|---|---|---|---|---|---|---|
| Cash and due from banks | 2 | 3 | 2 | — | — | |
| Federal funds sold | 12 | 7 | 10 | — | — | |
| Cash and cash equivalents | 14 | 10 | 12 | — | — | |
| Interest bearing deposits held in other financial institutions | 237,247 | 199,888 | 4 | — | — | |
| Debt securities available for sale | 5 | 7 | — | — | — | |
| Debt securities held to maturity, at amortized cost (fair value $373,568 and $394,081) | 483,787 | 510,276 | — | — | — | |
| Loans, net of allowance of $1,708,269 and $1,797,116, respectively | 201 | 183 | — | — | — | |
| Interest receivable | 667,686 | 597,768 | 612,724 | — | — | |
| Foreclosed assets (OREO), net | 996,373 | 1 | 2 | — | — | |
| Investment in restricted stock, at cost | 1 | 1 | 770,273 | — | — | |
| Cash surrender value life insurance | 9 | 9 | 9 | — | — | |
| Premises and equipment, net | 4 | 4 | 2 | — | — | |
| Other assets | 2 | 2 | 1 | 2 | 2 | |
| Total assets | 239 | 219 | 239 | 239 | 237 | |
| Non-interest bearing | 22 | 23 | 26 | — | — | |
| Interest bearing | 153 | 150 | 171 | — | — | |
| Federal Home Loan Bank (FHLB) advances | 15 | 13 | 8 | — | — | |
| Other liabilities | 3 | 2 | 2 | — | — | |
| Total liabilities | 193 | 188 | 207 | — | — | |
| Preferred stock, $.01 par value, 5,000,000 shares authorized, none issued | — | — | — | — | — | |
| Common stock, $.01 par value, 20,000,000 shares authorized, 2,938,698 and 2,938,362 shares issued and outstanding at June 30, 2025 and 2024 | 28,962 | 20,970 | 21,141 | — | — | |
| Additional paid-in capital | 23 | 7 | 7 | — | — | |
| Retained earnings | 26 | 26 | 26 | 25 | 25 | |
| Unearned ESOP shares, at cost | −2 | −751,613 | −786,572 | — | — | |
| Accumulated other comprehensive loss | −485,930 | −752,788 | −784,857 | — | — | |
| Total stockholders' equity | 46 | 31 | 31 | 31 | 32 | |
| Total liabilities and stockholders' equity | 239 | 219 | 239 | 239 | 237 |
Consolidated Statement of Cash Flows
Year Ended · In millions, except per-share amounts
| Concept | Trend | FY 2025 2025-06-30 | FY 2024 2024-06-30 | FY 2023 2023-06-30 | FY 2022 2022-06-30 | FY 2021 2021-06-30 |
|---|---|---|---|---|---|---|
| Depreciation | 295,003 | 244,904 | 205,013 | 207,951 | 207,351 | |
| Provision for valuation allowance on foreclosed assets (OREO), net | 378,767 | 937,100 | — | — | — | |
| Amortization of deferred loan fees | −51,859 | −41,552 | −50,036 | −535,665 | −429,082 | |
| ESOP expense | 61,667 | 33,936 | 40,127 | 48,349 | 7,808 | |
| Stock based compensation | 156,682 | 159,100 | 130,628 | — | — | |
| Net amortization of discounts and premiums on debt securities | 45,702 | 73,654 | 101,677 | 119,555 | 132,600 | |
| Net gain on sale of loans | −148,203 | −174,553 | −129,520 | −308,444 | −1 | |
| Net change in deferred taxes | −12,761 | −138,356 | 249,564 | 362,678 | 458,420 | |
| Decrease (Increase) in interest receivable | −69,918 | 14,956 | −46,795 | −13,413 | −52,776 | |
| Originations of loans held for sale | −6 | −4 | −4 | −17 | −51 | |
| Proceeds from loans held for sale | 6 | 5 | 4 | 17 | 52 | |
| Net change in operating leases | 1,209 | 2,406 | −6,800 | — | — | |
| Net change in other assets | 27,067 | −750 | −21,880 | −185,787 | −461,726 | |
| Net change in other liabilities | 938,228 | −243,264 | 484,029 | −274,319 | −28,213 | |
| Net Cash from Operating Activities | 1 | 416,553 | 2 | 825,532 | 1 | |
| Net change in interest-bearing deposits in other financial institutions | −37,359 | 4 | −2 | 117,390 | −117,913 | |
| Proceeds from sales, maturities, and repayments of debt securities available for sale | 2 | 2 | 1 | 3 | 5 | |
| Proceeds from maturities and calls of debt securities held to maturity | 32,768 | 11,594 | 22,828 | 196,744 | 2 | |
| Net increase in restricted stock | — | −559,140 | −447,273 | −60,800 | — | |
| Net change in loans | −17 | 15 | −14 | −41 | −27 | |
| Purchases of property and equipment | −179,043 | −2 | −65,363 | −34,094 | −88,471 | |
| Cash received from MHC in conversion | 100,000 | — | — | — | — | |
| Net Cash provided by (used in) Investing Activities | −16 | 18 | −14 | −44 | −21 | |
| Net cash proceeds from common stock offering | 15 | — | — | — | — | |
| Exercise of stock options | 13,314 | — | — | — | — | |
| Purchase of ESOP shares | −1 | — | — | — | — | |
| Net change in deposits | 2 | −24 | 9 | 16 | 38 | |
| Borrowings of FHLB advances | 5 | 5 | 8 | — | — | |
| Purchase and retirement of common stock | −82,165 | −156,220 | — | — | — | |
| Repayments of FHLB advances | −3 | — | — | — | — | |
| Net Cash provided by (used in) Financing Activities | 18 | −19 | 16 | 6 | 42 | |
| Net Change in Cash and Cash Equivalents | 4 | −1 | 3 | −38 | 22 | |
| Interest | 4 | 3 | 2 | 944,133 | 1 | |
| Taxes | — | 261,000 | 159,000 | 79,000 | 10,000 | |
| Right of use assets obtained in exchange for new operating leases | — | 47,570 | — | — | — |
Filings
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