Marathon Bancorp, Inc. Announces Completion of Conversion and Related Stock Offering
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.
Marathon Bancorp (MBBC) ha completato con successo la conversione da società di partecipazione mutualistica a società per azioni, insieme all'offerta pubblica di azioni correlata. La società ha venduto 1.693.411 azioni, portando a circa 2.942.064 azioni totali in circolazione dopo la conversione e lo scambio delle azioni di minoranza.
Le azioni della società inizieranno a essere quotate sul Nasdaq Capital Market con il simbolo 'MBBC' il 22 aprile 2025. Le dichiarazioni del Direct Registration System in formato elettronico e gli assegni relativi saranno inviati agli azionisti nella stessa data. Marathon Bank opera dalla sua sede principale e da quattro filiali nelle contee di Marathon, Waukesha e Ozaukee, nel Wisconsin.
Marathon Bancorp (MBBC) ha completado con éxito su conversión de una compañía de tenencia mutual a una compañía de tenencia accionaria, junto con su oferta de acciones relacionada. La empresa vendió 1,693,411 acciones, resultando en aproximadamente 2,942,064 acciones totales en circulación tras la conversión y el intercambio de acciones minoritarias.
Las acciones de la compañía comenzarán a cotizar en el Nasdaq Capital Market bajo el símbolo 'MBBC' el 22 de abril de 2025. Las declaraciones del Sistema de Registro Directo en formato electrónico y los cheques relacionados serán enviados a los accionistas en la misma fecha. Marathon Bank opera desde su oficina principal y cuatro sucursales en los condados de Marathon, Waukesha y Ozaukee en Wisconsin.
Marathon Bancorp (MBBC)는 상호 지주회사에서 주식 지주회사 구조로의 전환과 관련 주식 공모를 성공적으로 완료했습니다. 회사는 1,693,411주를 판매했으며, 전환 및 소수 지분 교환 후 총 2,942,064주가 발행되었습니다.
회사의 주식은 2025년 4월 22일부터 나스닥 캐피털 마켓(Nasdaq Capital Market)에서 'MBBC'라는 심볼로 거래를 시작할 예정입니다. 직접 등록 시스템(DRS) 전자 명세서와 관련 수표는 같은 날 주주들에게 우편으로 발송됩니다. Marathon Bank는 위스콘신 주의 Marathon, Waukesha, Ozaukee 카운티에 위치한 본사와 네 개 지점에서 운영되고 있습니다.
Marathon Bancorp (MBBC) a réussi sa conversion d'une société de portefeuille mutuelle à une société de portefeuille par actions, accompagnée de son offre d'actions associée. La société a vendu 1 693 411 actions, ce qui porte le total à environ 2 942 064 actions en circulation après la conversion et l'échange des actions minoritaires.
Les actions de la société commenceront à être négociées sur le Nasdaq Capital Market sous le symbole 'MBBC' le 22 avril 2025. Les relevés du système d'enregistrement direct et les chèques associés seront envoyés aux actionnaires à la même date. Marathon Bank opère depuis son siège principal et quatre succursales situées dans les comtés de Marathon, Waukesha et Ozaukee dans le Wisconsin.
Marathon Bancorp (MBBC) hat erfolgreich den Übergang von einer mutualen Holdinggesellschaft zu einer Aktienholding abgeschlossen, einschließlich des damit verbundenen Aktienangebots. Das Unternehmen verkaufte 1.693.411 Aktien, was nach der Umwandlung und dem Austausch der Minderheitsanteile zu etwa 2.942.064 ausstehenden Aktien führt.
Die Aktien des Unternehmens sollen ab dem 22. April 2025 unter dem Symbol 'MBBC' am Nasdaq Capital Market gehandelt werden. Direct Registration System Buchungsbelege und zugehörige Schecks werden den Aktionären am selben Tag zugesandt. Die Marathon Bank ist von ihrem Hauptsitz und vier Filialen in den Counties Marathon, Waukesha und Ozaukee in Wisconsin aus tätig.
- 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
- None.
Insights
Marathon Bancorp completes conversion to stock holding company structure and uplists to Nasdaq, signaling strategic growth positioning.
Marathon Bancorp's conversion from mutual holding company to stock holding company structure represents a significant corporate evolution that transforms its fundamental ownership model. This demutualization process—moving from a depositor-ownership structure to shareholder ownership—marks a pivotal milestone in the company's development trajectory.
The offering resulted in the sale of 1,693,411 shares, bringing Marathon's total outstanding shares to approximately 2,942,064. Most notably, the bank is uplisting from OTC Pink to Nasdaq Capital Market under the symbol "MBBC" beginning April 22. This exchange upgrade typically delivers three key benefits: enhanced trading liquidity, improved visibility to institutional investors, and greater market credibility—all particularly valuable for a smaller institution with Marathon's
For context, Marathon Bank operates from five locations across Marathon, Waukesha and Ozaukee Counties in Wisconsin. Such conversions typically represent a strategic repositioning that allows management increased flexibility in capital allocation and corporate structure. The successful completion of both the conversion and related stock offering demonstrates Marathon's ability to execute complex financial transactions while satisfying regulatory requirements—no small achievement for a community banking organization.
While the announcement doesn't quantify the capital raised or specify strategic deployment plans, the structural transition itself positions Marathon within a more conventional banking ownership framework that may facilitate both organic growth initiatives and potential merger/acquisition opportunities going forward.
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?
How many shares of MBBC are outstanding after the conversion?
How many shares were sold in Marathon Bancorp's (MBBC) stock offering?
Where are Marathon Bancorp's (MBBC) branch locations?
