Marathon Bancorp, Inc. Announces Completion of Conversion and Related Stock Offering

Rhea-AI Summary

Marathon Bancorp (MBBC) has successfully completed its conversion from a mutual holding company to a stock holding company structure, along with its related stock offering. The company sold 1,693,411 shares, resulting in approximately 2,942,064 total outstanding shares following the conversion and minority shares exchange.

The company's stock is scheduled to begin trading on the Nasdaq Capital Market under the symbol 'MBBC' on April 22, 2025. Direct Registration System Book-Entry statements and related checks will be mailed to shareholders on the same date. Marathon Bank operates from its main office and four branch offices across Marathon, Waukesha, and Ozaukee Counties in Wisconsin.

Positive

• Successful completion of conversion to stock holding company structure
• Uplisting to Nasdaq Capital Market from OTC Pink
• Successful completion of stock offering with 1,693,411 shares sold

Negative

• None.

WAUSAU, WISCONSIN / ACCESS Newswire / April 21, 2025 / Marathon Bancorp, Inc. (the "Company") (OTC PINK:MBBC), the holding company for Marathon Bank, announced that Marathon MHC (the "MHC"), has completed its conversion from the mutual holding company to the stock holding company form of organization (the "Conversion"), and the Company has completed its related stock offering. As a result of the closing of the Conversion, the MHC ceased to exist effective upon the closing of the Conversion.

After the sale of 1,693,411 shares in the recently completed offering and the exchange of the minority shares, approximately 2,942,064 shares of Company common stock are outstanding as a result of the Conversion, before taking into account adjustments for fractional shares.

The Company's common stock is expected to trade on the Nasdaq Capital Market under the trading symbol "MBBC" beginning on April 22, 2025.

The Company's transfer agent, Continental Stock Transfer & Trust Company, expects to mail Direct Registration System Book-Entry statements for shares purchased in the offering on or about April 22, 2025. Interest checks and checks for cash in lieu of fractional shares are also expected to be mailed out on or about April 22, 2025. Persons wishing to confirm their orders may contact the Stock Information Center at (312) 461-4342.

Luse Gorman, PC acted as legal counsel to the Company, the MHC and Marathon Bank. Janney Montgomery Scott LLC acted as marketing agent for the Company in connection with the offering, and Hogan Lovells US LLP acted as legal counsel to Janney Montgomery Scott LLC.

About Marathon Bancorp, Inc.

Marathon Bancorp is the bank holding company for Marathon Bank, a Wisconsin-chartered savings bank headquartered in Wausau, Wisconsin. The Bank conducts its business from its main office and four branch offices located in Marathon, Waukesha and Ozaukee Counties.

Forward-Looking Statements

Certain statements contained herein constitute "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 and are intended to be covered by the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such statements may be identified by words such as "may," "will," "would," "intend," "believe," "expect," "plan," "estimate," "anticipate," "continue," or similar terms or variations on those terms, or the negative of those terms. These statements are based upon the current beliefs and expectations of Company management and are subject to significant risks and uncertainties. Actual results may differ materially from those set forth in the forward-looking statements as a result of numerous factors. Factors that could cause such differences to exist include, but are not limited to: risks related to the real estate and economic environment, particularly in the market areas in which the Company operates; fiscal and monetary policies of the U.S. Government, including tariffs; changes in government regulations affecting financial institutions, including regulatory compliance costs and capital requirements; fluctuations in the adequacy of the allowance for credit losses; decreases in deposit levels necessitating increased borrowing to fund loans and investments; operational risks including, but not limited to, cybersecurity, fraud and natural disasters; the risk that the Company may not be successful in the implementation of its business strategy; changes in prevailing interest rates; credit risk management; asset-liability management; and other risks described in the Company's filings with the Securities and Exchange Commission, which are available at the Securities and Exchange Commission's website, www.sec.gov.

The Company wishes to caution readers not to place undue reliance on any such forward-looking statements, which speak only as of the date made. The Company wishes to advise readers that the factors listed above or other factors could affect the Company's financial performance and could cause the Company's actual results for future periods to differ materially from any opinions or statements expressed with respect to future periods in any current statements. The Company does not undertake and specifically disclaims any obligation to publicly release the results of any revisions, which may be made to any forward-looking statements to reflect events or circumstances after the date of such statements or to reflect the occurrence of anticipated or unanticipated events.

Contact Information

Susan Osness
Executive Assistant
susano@marathonsavingsbank.com
715-845-7331

Nick Zillges
President & CEO
nickz@marathonbank.com
(715) 845-7331

SOURCE: Marathon Bank

View the original press release on ACCESS Newswire

FAQ

When will Marathon Bancorp (MBBC) begin trading on Nasdaq?

Marathon Bancorp (MBBC) is scheduled to begin trading on the Nasdaq Capital Market on April 22, 2025.

How many shares of MBBC are outstanding after the conversion?

After the conversion and minority shares exchange, approximately 2,942,064 shares of Marathon Bancorp common stock are outstanding.

How many shares were sold in Marathon Bancorp's (MBBC) stock offering?

Marathon Bancorp sold 1,693,411 shares in its recently completed stock offering.

Where are Marathon Bancorp's (MBBC) branch locations?

Marathon Bank operates from its main office and four branch offices located in Marathon, Waukesha and Ozaukee Counties, Wisconsin.