Marathon Bancorp, Inc. Announces Commencement of Stock Offering
Marathon Bancorp (MBBC) has announced the commencement of its stock offering as part of its conversion from a mutual holding company structure to a fully stock holding company. The company is offering up to 1,897,500 shares of common stock (potentially increasing to 2,182,125 shares) at $10.00 per share.
The shares will be initially offered to certain Bank depositors and the Bank's employee stock ownership plan. Unsubscribed shares may then be offered to the public, with preference given to residents of Wisconsin Counties (Marathon, Ozaukee, Milwaukee, and Waukesha) and existing stockholders. The company must sell at least 1,402,500 shares, and the stock is expected to be listed on the Nasdaq Capital Market.
The offering, managed by Janney Montgomery Scott , runs from February 24 to March 21, 2025. Completion is subject to regulatory approvals, stockholder and MHC member approval, and other closing conditions.
Marathon Bancorp (MBBC) ha annunciato l'inizio della sua offerta di azioni come parte della sua conversione da una struttura di holding mutuale a una holding completamente azionaria. L'azienda offre fino a 1.897.500 azioni ordinarie (potenzialmente aumentando a 2.182.125 azioni) a $10,00 per azione.
Le azioni saranno inizialmente offerte a determinati depositanti della Banca e al piano di partecipazione azionaria dei dipendenti della Banca. Le azioni non sottoscritte potranno quindi essere offerte al pubblico, con preferenza per i residenti delle Contee del Wisconsin (Marathon, Ozaukee, Milwaukee e Waukesha) e per gli azionisti esistenti. L'azienda deve vendere almeno 1.402.500 azioni, e le azioni dovrebbero essere quotate sul Nasdaq Capital Market.
L'offerta, gestita da Janney Montgomery Scott, si svolgerà dal 24 febbraio al 21 marzo 2025. Il completamento è soggetto ad approvazioni normative, approvazione degli azionisti e dei membri della MHC, e ad altre condizioni di chiusura.
Marathon Bancorp (MBBC) ha anunciado el inicio de su oferta de acciones como parte de su conversión de una estructura de compañía de tenencia mutual a una compañía de tenencia completamente accionaria. La empresa ofrece hasta 1,897,500 acciones ordinarias (potencialmente aumentando a 2,182,125 acciones) a $10.00 por acción.
Las acciones se ofrecerán inicialmente a ciertos depositantes del Banco y al plan de propiedad de acciones para empleados del Banco. Las acciones no suscritas podrán luego ser ofrecidas al público, dando preferencia a los residentes de los Condados de Wisconsin (Marathon, Ozaukee, Milwaukee y Waukesha) y a los accionistas existentes. La empresa debe vender al menos 1,402,500 acciones, y se espera que las acciones se coticen en el Nasdaq Capital Market.
La oferta, gestionada por Janney Montgomery Scott, se llevará a cabo del 24 de febrero al 21 de marzo de 2025. La finalización está sujeta a aprobaciones regulatorias, aprobación de los accionistas y miembros de la MHC, y otras condiciones de cierre.
마라톤 뱅코프 (MBBC)는 상호 보유 회사 구조에서 완전한 주식 보유 회사로의 전환의 일환으로 주식 공모를 시작한다고 발표했습니다. 회사는 1,897,500주의 보통주(최대 2,182,125주로 증가할 수 있음)를 주당 $10.00에 제공합니다.
주식은 처음에 특정 은행 예금자와 은행의 직원 주식 소유 계획에 제공됩니다. 구독되지 않은 주식은 이후 일반 대중에게 제공될 수 있으며, 위스콘신 주의 카운티(마라톤, 오자우키, 밀워키, 와우케샤) 거주자와 기존 주주에게 우선권이 부여됩니다. 회사는 최소 1,402,500주를 판매해야 하며, 주식은 Nasdaq Capital Market에 상장될 것으로 예상됩니다.
이 공모는 Janney Montgomery Scott가 관리하며, 2025년 2월 24일부터 3월 21일까지 진행됩니다. 완료는 규제 승인, 주주 및 MHC 회원의 승인, 기타 종료 조건에 따라 달라집니다.
Marathon Bancorp (MBBC) a annoncé le lancement de son offre d'actions dans le cadre de sa conversion d'une structure de société de holding mutuelle en une société de holding entièrement capitalisée. L'entreprise propose jusqu'à 1 897 500 actions ordinaires (pouvant potentiellement augmenter à 2 182 125 actions) au prix de 10,00 $ par action.
Les actions seront initialement offertes à certains déposants de la Banque et au plan de propriété d'actions des employés de la Banque. Les actions non souscrites pourront ensuite être offertes au public, avec une préférence accordée aux résidents des comtés du Wisconsin (Marathon, Ozaukee, Milwaukee et Waukesha) et aux actionnaires existants. L'entreprise doit vendre au moins 1 402 500 actions, et les actions devraient être cotées sur le Nasdaq Capital Market.
L'offre, gérée par Janney Montgomery Scott, se déroulera du 24 février au 21 mars 2025. L'achèvement est soumis à des approbations réglementaires, à l'approbation des actionnaires et des membres de la MHC, ainsi qu'à d'autres conditions de clôture.
Marathon Bancorp (MBBC) hat den Beginn seines Aktienangebots im Rahmen seiner Umwandlung von einer Genossenschaftsstruktur in eine vollständig kapitalisierte Holdinggesellschaft bekannt gegeben. Das Unternehmen bietet bis zu 1.897.500 Aktien (möglicherweise steigend auf 2.182.125 Aktien) zu einem Preis von 10,00 $ pro Aktie an.
Die Aktien werden zunächst bestimmten Bankeinlegern und dem Mitarbeiteraktienbesitzplan der Bank angeboten. Nicht gezeichnete Aktien können dann der Öffentlichkeit angeboten werden, wobei Bewohner der Bundesstaat Wisconsin (Marathon, Ozaukee, Milwaukee und Waukesha) und bestehende Aktionäre bevorzugt werden. Das Unternehmen muss mindestens 1.402.500 Aktien verkaufen, und die Aktien sollen an der Nasdaq Capital Market gelistet werden.
Das Angebot, das von Janney Montgomery Scott verwaltet wird, läuft vom 24. Februar bis 21. März 2025. Der Abschluss unterliegt regulatorischen Genehmigungen, der Genehmigung durch die Aktionäre und Mitglieder der MHC sowie anderen Abschlussbedingungen.
- Planned uplisting to Nasdaq Capital Market from OTC Pink
- Minimum capital raise of $14.025 million if successful
- Potential maximum capital raise of $21.82 million at full subscription
- Potential dilution for existing shareholders
- Stock offering success dependent on market conditions and investor interest
- Additional regulatory and shareholder approvals still required
Insights
This second-step conversion represents a pivotal transformation for Marathon Bancorp, with potential capital raising between
The planned uplisting from OTC Pink to Nasdaq Capital Market should substantially enhance the stock's trading liquidity and institutional investor accessibility. This move typically leads to broader analyst coverage and improved access to capital markets for future growth initiatives.
The offering's structure, prioritizing depositors and employee stock ownership, helps maintain local ownership while creating a more flexible capital structure. This is particularly relevant in Marathon, Ozaukee, Milwaukee, and Waukesha counties, where the bank maintains its footprint. The
Historical patterns in similar bank conversions suggest these transactions often create value for participants. Second-step conversions typically lead to improved operational efficiency and enhanced ability to participate in regional consolidation. The increased capital base could support organic growth through expanded lending capabilities or strategic acquisitions in the competitive Wisconsin banking market.
The timing is noteworthy given the current banking environment, where strong capital positions are increasingly important for regional banks. The conversion positions Marathon Bancorp to potentially capitalize on market opportunities while maintaining regulatory compliance and financial flexibility.
WAUSAU, WISCONSIN / ACCESS Newswire / February 20, 2025 / Marathon Bancorp, Inc. (the "Company") (OTC PINK:MBBC), the holding company for Marathon Bank (the "Bank"), announced today that it is commencing its stock offering in connection with the proposed conversion of Marathon MHC (the "MHC") from the mutual holding company structure to the fully stock holding company form of organization.
The Company is offering for sale up to 1,897,500 shares of common stock, subject to increase to up to 2,182,125 shares of common stock at a purchase price of
The Company's common stock is expected to be listed on the Nasdaq Capital Market under the symbol "MBBC" upon the completion of the conversion.
The subscription and community offerings are being managed by Janney Montgomery Scott LLC. All questions concerning the offering or requests for offering materials should be directed to the Stock Information Center at (312) 461-4342. The Stock Information Center, located at 500 Scott Street, Wausau, Wisconsin, will be open Monday through Friday from 10:00 a.m. until 4:00 p.m., Central Time, beginning February 24, 2025, through March 21, 2025, the scheduled expiration date of the subscription offering. The Stock Information Center will be closed on bank holidays.
The Company must sell at least 1,402,500 shares of its common stock in the offering. Completion of the conversion and offering is also subject to the receipt of final regulatory approvals, the approval of the Company's stockholders and the MHC's members and other customary closing conditions.
This release is neither an offer to sell nor a solicitation of an offer to buy common stock of the Company. The offer is made only by the Company's prospectus when accompanied by a stock order form. The shares of common stock of the Company are not savings accounts or savings deposits, may lose value and are not insured by the Federal Deposit Insurance Corporation or any other government agency. The Company has filed with the Securities and Exchange Commission (the "SEC") a registration statement for the offering to which this press release relates and will file with the SEC the final prospectus, dated February 11, 2025, for the subscription and community offerings. Before you invest, you should read that prospectus and other documents the Company has filed with the SEC for more complete information about the Company and the stock offering. You may obtain these documents for free by visiting EDGAR on the SEC website at www.sec.gov.
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: the failure to obtain the final approval of the Board of Governors of the Federal Reserve System or the Wisconsin Department of Financial Institutions for the proposed conversion and related stock offering, delays in obtaining such approvals, or adverse conditions imposed in connection with such approvals; failure to obtain stockholder and/or member approval of the conversion; those 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; changes in government regulations affecting financial institutions, including regulatory compliance costs and capital requirements; fluctuations in the adequacy of loan loss reserves; 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 SEC, which are available at the SEC'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
Nicholas W. Zillges
President and Chief Executive Officer
nickz@marathonbank.com
(715) 845-7331
SOURCE: Marathon Bank
View the original press release on ACCESS Newswire
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