Every 8-K that MAGNOLIA BANCORP INC (MGNO) has filed with the SEC in the last 24 months is listed below, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 8-K covers material events a company has to report between its quarterly reports, so if you follow MGNO and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full MGNO filings page.
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 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. has decided not to re-hire EisnerAmper LLP as its independent registered public accounting firm for calendar 2026, although EisnerAmper will complete the audit of the 2025 consolidated financial statements. The change was approved by the Audit Committee of the Board of Directors.
EisnerAmper’s prior reports on the Association’s 2023 and 2024 financial statements did not contain adverse or disclaimed opinions and were not qualified for uncertainty, scope, or accounting principles. The filing states there were no disagreements or reportable events with EisnerAmper, other than previously disclosed material weaknesses in internal control over financial reporting as of December 31, 2024 and 2023.
The company has selected Mauldin & Jenkins, LLC to serve as independent auditor for the year ending December 31, 2026, with the appointment becoming effective after completion of client acceptance procedures and an engagement letter. The filing includes a letter from EisnerAmper to the SEC confirming its position.
Magnolia Bancorp, Inc. announced that its board approved the company’s first stock repurchase program, authorizing the buyback of up to 33,350 shares, which equals 4.0% of its outstanding common stock. Repurchases may occur from time to time in open market or privately negotiated transactions and are scheduled to begin on January 15, 2026, following the one-year anniversary of the mutual-to-stock conversion of its subsidiary, Mutual Savings and Loan Association.
The company plans to use the repurchased shares to fund its 2025 Recognition and Retention Plan and Trust Agreement. Under this plan, the compensation committee granted share awards covering 16,280 shares of common stock on November 20, 2025, with the first vesting date on November 20, 2026. Magnolia Bancorp also entered into a Rule 10b5-1 trading plan with Keefe, Bruyette & Woods, Inc., which will conduct open market purchases in accordance with Rule 10b-18 under the Securities Exchange Act.
Magnolia Bancorp, Inc. held its annual meeting where shareholders elected the nominated directors and approved several corporate measures. Shareholders adopted the 2025 Stock Option Plan and the 2025 Recognition and Retention Plan and Trust Agreement, approved the selection of the company’s independent registered public accounting firm, and passed a non-binding resolution approving named executive officer compensation as well as an advisory vote setting the frequency of such compensation votes to every three years. The filing also discloses the resignation of positions and termination of employment agreement for Anita C. Cambre, effective September 18, 2025. Voting tallies in the filing include withheld votes and broker non-votes (e.g., 573,131, 25,100, and 110,666 as shown).