Welcome to our dedicated page for Magnolia Bancorp SEC filings (Ticker: MGNO), a comprehensive resource for investors and traders seeking official regulatory documents including 10-K annual reports, 10-Q quarterly earnings, 8-K material events, and insider trading forms.
Magnolia Bancorp, Inc. filings document its public-company reporting as the Louisiana parent company of Mutual Savings and Loan Association after the Association’s completed mutual-to-stock conversion. The record includes proxy materials for director elections and auditor ratification, Form 8-K disclosures on changes in the independent registered public accounting firm, executive officer appointments and employment-agreement matters, and Regulation FD disclosure for stock repurchase authorization and equity compensation plan funding. These filings also describe governance approvals, common-stock capital actions, and subsidiary relationship disclosures.
Magnolia Bancorp, Inc. (MGNO) director and Executive Chair & CEO Michael L. Hurley reported a sale of 4,000 shares of common stock on 2026-08-19 at $13.71 per share in a private sale to the company’s 2025 Recognition and Retention Plan and Trust to partially fund that plan. Following this sale and including an award under the same plan, he holds 41,024 common shares directly, plus 1,307 shares held indirectly through an ESOP, and a stock option to acquire 16,675 shares at an exercise price of $11.19 per share that vests 20% per year commencing on November 20, 2026 and expires on November 20, 2035.
Magnolia Bancorp, Inc. reported that on August 10, 2026, Donice Wagner submitted her voluntary resignation as Executive Vice President, Chief Financial Officer and Secretary of Magnolia and its wholly owned subsidiary Mutual Savings and Loan Association, effective August 21, 2026, to return to her consulting practice.
Effective upon her departure, Magnolia and Mutual Savings will retitle Michael L. Hurley as Executive Chair and Chief Executive Officer and Robert W. Kimbro as President and Chief Financial Officer. Hurley, age 78, has led Mutual Savings since 1984 and Magnolia since its formation in May 2024, and had previously relinquished his President and CEO titles as of June 1, 2026. Kimbro, age 68, is a certified public accountant with prior experience at SageWay LLC and Ernst & Young. Kimbro’s initial annual base salary is $175,000, and Hurley’s current annual base salary is $175,000. The company states there were no selection arrangements with Kimbro and notes family and employment-agreement relationships for Hurley.
Magnolia Bancorp, Inc. reported continued operating losses for the quarter and six months ended June 30, 2026 while maintaining very strong capital levels. Total assets declined 3.9% to $35.9 million, driven mainly by a $1.5 million decrease in deposits and modest loan runoff; loans receivable, net fell 2.1% to $30.1 million.
For the quarter, Magnolia recorded a net loss of $65,000, versus a $36,000 loss a year earlier; the six‑month net loss widened to $134,000 from $66,000. Net interest income improved modestly to $340,000 for the quarter and $680,000 year‑to‑date, as the interest rate spread and net interest margin expanded with lower certificate of deposit costs. Noninterest expense rose to $410,000 for the quarter and $827,000 year‑to‑date, primarily from higher salaries, benefits, and stock‑based compensation following the mutual‑to‑stock conversion and public‑company transition.
Asset quality metrics remained strong: nonaccrual loans totaled $67,000, and the allowance for credit losses of $185,000 covered 276% of nonperforming assets, with no charge‑offs recorded. The Association’s regulatory capital ratios were very high, and it was categorized as well capitalized. However, management disclosed a material weakness in internal controls over the allowance for credit losses and has recorded a valuation allowance against deferred tax assets due to recent losses.
Magnolia Bancorp, Inc. President and CEO Robert W. Kimbro filed an initial Form 3, which is used to report insider ownership in the company’s stock. The filing lists common stock with $0.01 par value and shows 0 shares of Magnolia Bancorp common stock owned directly after the reported date, and it does not report any purchase, sale, or other transaction activity.
Magnolia Bancorp, Inc. reported shareholder voting results from its Annual Meeting and announced a planned leadership transition. Shareholders elected directors John H. Andressen and Peyton B. Burkhalter, each receiving 445,969 votes for and 12,300 votes withheld, with 132,756 broker non-votes. Shareholders also approved the appointment of the company’s independent registered public accounting firm with 519,701 votes for, 70,599 against and 725 abstentions.
The company announced that, effective June 1, 2026, longtime leader Michael L. Hurley will move from Chairman, President and Chief Executive Officer to Executive Chair of the Board of both Magnolia and its subsidiary Mutual Savings and Loan Association. At the same time, Robert W. Kimbro will become President and Chief Executive Officer of Magnolia and Mutual Savings, overseeing day-to-day operations. Mutual Savings, a federally chartered savings association, has approximately $37 million in assets and will also form an Executive Committee including the Executive Chair, President and Chief Executive Officer, and Chief Financial Officer to focus on strategic objectives.
Magnolia Bancorp, Inc. reported a net loss of $69,000 for the three months ended March 31, 2026, wider than the $30,000 loss a year earlier. Total interest income was $390,000 and interest expense fell to $50,000, lifting net interest income to $340,000 as funding costs declined.
Total assets were $37.6 million, with loans receivable, net, of $30.4 million and deposits of $17.0 million. Credit quality remained stable, with nonaccrual loans of $135,000 and an allowance for credit losses of $185,000, covering all nonperforming loans. The association was categorized as well capitalized with very high regulatory capital ratios.
Noninterest expense increased to $417,000, driven by higher salaries and new stock-based compensation, and the company continues to carry a valuation allowance on deferred tax assets due to recent losses. Management disclosed a material weakness in internal controls over the allowance for credit losses, related to documentation of independent review, and is working to enhance controls. The board also repurchased 1,462 shares in the quarter under its authorized buyback program.
Magnolia Bancorp, Inc. is asking shareholders to vote at its annual meeting on May 28, 2026 in Metairie, Louisiana. Holders of common stock as of April 9, 2026, when 832,288 shares were outstanding, may vote one share per vote.
Shareholders will elect two directors for terms expiring in 2029 and ratify Mauldin & Jenkins, LLC as independent auditor for 2026. The board is staggered into three classes and includes independent directors who chair the audit, compensation, and nominating committees; the CEO also serves as chairman.
The proxy describes director fees of $550 monthly and 2025 equity grants of 1,667 restricted shares and 4,168 stock options to each non‑employee director, plus executive pay, retirement, and stock plans. An ESOP holding 66,700 shares (8.0% of common stock) is in place, and shareholders and ESOP participants receive detailed instructions on how to submit voting directions.
Magnolia Bancorp, Inc., holding company for Mutual Savings and Loan Association, completed its mutual-to-stock conversion and initial public offering in January 2025, issuing 833,750 shares for $8.3 million with net proceeds of about $6.9 million. At December 31, 2025, assets were $37.4 million, down 14.9% from 2024, as cash and deposits declined following the offering and runoff of higher-rate certificates of deposit.
Net loans were $30.7 million and the portfolio remained heavily concentrated in fixed-rate one-to-four family residential mortgages, including $22.7 million of bi-weekly loans that accelerate principal repayment. Non-performing assets were low at $136,000, or 0.4% of total assets, and the allowance for credit losses was $185,000, or 0.6% of total loans.
The company recorded a net loss of approximately $170,000 in 2025 as public-company and compensation costs rose faster than net interest income. Deposits fell 42.9% to $16.8 million, largely due to offering-related withdrawals, while Magnolia maintains strong regulatory capital and emerging growth company status with a focused community banking strategy in Jefferson and St. Tammany Parishes.
Magnolia Bancorp, Inc. Employee Stock Ownership Plan Trust reports beneficial ownership of 8.0% of common stock, holding 66,700 shares as of December 31, 2025. The filing cites 833,750 shares issued and outstanding as of that date. The Trust holds 64,476.67 shares with sole voting and dispositive power and 2,223.33 shares with shared voting and dispositive power that are committed for allocation to participants. The Plan Trustee is Jason L. Manson, who signed the amendment and disclaims beneficial ownership under Rule 13d-4.