[SCHEDULE 13G] Marathon Bancorp, Inc. SEC Filing

Rhea-AI Filing Summary

Marathon Bank Employee Stock Ownership Plan Trust reports beneficial ownership of 254,445 shares of Marathon Bancorp common stock, representing 8.66% of the outstanding class. The filing shows the trust has sole dispositive power over all 254,445 shares and sole voting power for 236,254 shares with shared voting power for 18,191 shares. The trustee is Community Bank of Pleasant Hill, operating as First Trust of MidAmerica. The reporting person identifies itself as an employee benefit plan and certifies the shares are held in the ordinary course of business and not to influence control of the issuer.

Positive

• Employee ownership: ESOP holds 8.66% of common shares, aligning employee and shareholder interests
• Clear non-control intent: Reporting person certifies shares are held in the ordinary course and not to influence control
• Full dispositive authority: Trustee has sole dispositive power over all 254,445 shares, simplifying administration

Negative

• None.

Insights

Financial Analyst

TL;DR: An ESOP holds a meaningful 8.66% stake, signalling substantial employee ownership but no change-in-control intent.

The Marathon Bank Employee Stock Ownership Plan Trust's 8.66% stake is material enough to be notable to investors because it exceeds the 5% reporting threshold, but the filing explicitly states the position is held in the ordinary course and not for control. Sole dispositive power over all shares indicates the trust directs dispositions, while some voting power is shared, reflecting trustee administration. This ownership could align employee interests with shareholders without constituting activist intent.

Corporate Governance Expert

TL;DR: Employee ownership at near-single-digit levels supports governance alignment yet conveys no governance challenge.

The trust's classification as an employee benefit plan and the certification that shares are not held to influence control reduce governance concerns about a takeover or coordinated voting campaign. Shared voting power on a portion of shares suggests routine trustee-arranged voting arrangements. Stakeholders should note the presence of an ESOP as an alignment mechanism between employees and shareholders, though it is not a controlling block.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

MARATHON BANCORP, INC.

(Name of Issuer)

Common Stock, par value $0.01 per share

(Title of Class of Securities)

565759206

(CUSIP Number)

06/30/2025

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

SCHEDULE 13G

CUSIP No. 565759206

1

Names of Reporting Persons

Marathon Bank Employee Stock Ownership Plan Trust

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

WISCONSIN

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 236,254.00
6	Shared Voting Power 18,191.00
7	Sole Dispositive Power 254,445.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

254,445.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

8.66 %

12

Type of Reporting Person (See Instructions)

EP

SCHEDULE 13G

Item 1.
(a)	Name of issuer: MARATHON BANCORP, INC.
(b)	Address of issuer's principal executive offices: 109 West Second Street, Kaukauna, Wisconsin, 54130
Item 2.
(a)	Name of person filing: Marathon Bank Employee Stock Ownership Plan Trust Trustee: Community Bank of Pleasant Hill, dba First Trust of MidAmerica
(b)	Address or principal business office or, if none, residence: 3500 N Village Dr. Suite 220 St. Joseph, Missouri 64506
(c)	Citizenship: Wisconsin
(d)	Title of class of securities: Common Stock, par value $0.01 per share
(e)	CUSIP No.: 565759206
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: 254,445
(b)	Percent of class: 8.66 %
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 236,254
	(ii) Shared power to vote or to direct the vote: 18,191
	(iii) Sole power to dispose or to direct the disposition of: 254,445
	(iv) Shared power to dispose or to direct the disposition of: 0
Item 5.	Ownership of 5 Percent or Less of a Class.
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	Not Applicable
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	Not Applicable
Item 8.	Identification and Classification of Members of the Group.
	If a group has filed this schedule pursuant to §240.13d-1(b)(1)(ii)(K), so indicate under Item 3(k) and attach an exhibit stating the identity and Item 3 classification of each member of the group. If a group has filed this schedule pursuant to §240.13d-1(c) or §240.13d-1(d), attach an exhibit stating the identity of each member of the group. The reporting person is an employee benefit plan subject to the provisions of the Employee Retirement Income Security Act of 1974, as amended.
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Marathon Bank Employee Stock Ownership Plan Trust

Signature:	/s/ Gerald Lau
Name/Title:	Gerald Lau, SVP, Community Bank of Pleasant Hill dba First Trust of MidAmerica, as Trustee
Date:	08/28/2025

FAQ

How many shares of Marathon Bancorp does the Marathon Bank ESOP hold (MBBC)?

The Marathon Bank Employee Stock Ownership Plan Trust beneficially owns 254,445 shares, representing 8.66% of the class.

Does the ESOP intend to influence control of Marathon Bancorp (MBBC)?

No. The filing certifies the shares are held in the ordinary course of business and were not acquired to change or influence control of the issuer.

What voting and disposition powers does the trustee have over the ESOP shares?

The trust has sole dispositive power for all 254,445 shares, sole voting power for 236,254 shares, and shared voting power for 18,191 shares.

Who is the trustee administering the Marathon Bank ESOP (MBBC)?

The trustee is Community Bank of Pleasant Hill, doing business as First Trust of MidAmerica, acting for the ESOP.

Is the Marathon Bank ESOP classified as an institutional filer or an employee benefit plan?

The reporting person identifies itself as an employee benefit plan under the applicable rules.