Marathon Bancorp Inc MD
For the period ended Jun 30, 2024. Filed Sep 26, 2024.
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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2024 · Filed Sep 26, 2024
MBBC$14.18-2.0%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Consolidated Statements of Income
Consolidated Statements of Income (Loss)
For the Years ended June 30, 2024 and 2023
| | | | | | | |
|---|---|---|---|---|---|---|
| · · June 30, | ||||||
| | 2024 | 2023 | ||||
| Interest Income | | | | | | |
| Loans, including fees | | $8,637,410 | | $8,181,894 | ||
| Debt securities | | 214,056 | | 249,518 | ||
| Other | | 579,115 | | 546,398 | ||
| Total interest income | | 9,430,581 | | 8,977,810 | ||
| Interest Expense | | | | | | |
| Deposits | | 2,942,288 | | 2,175,876 | ||
| Borrowings and other | | 648,430 | | 102,623 | ||
| Total interest expense | | 3,590,718 | | 2,278,499 | ||
| Net Interest Income | | 5,839,863 | | 6,699,311 | ||
| Provision for (Recovery of) Credit Losses | | (190,000) | | — | ||
| Net Interest Income After Provision for (Recovery of) Credit Losses | | 6,029,863 | | 6,699,311 | ||
| Non-Interest Income | | | ||||
| Service charges on deposit accounts | | 125,175 | | 153,069 | ||
| Mortgage banking income | | 325,530 | | 351,377 | ||
| Increase in cash value of life insurance | | 248,587 | | 236,420 | ||
| Gain on proceeds from life insurance death benefit | | | — | | | 261,297 |
| Net gain on securities transactions | | — | | 24,000 | ||
| Gain on acquisition of foreclosed assets | | — | | 246,751 | ||
| Other income | | 26,732 | | 28,664 | ||
| Total non-interest income | | 726,024 | | 1,301,578 | ||
| Non-Interest Expenses | | | ||||
| Salaries and employee benefits | | 3,082,201 | | 3,296,003 | ||
| Occupancy and equipment expenses | | 857,613 | | 730,989 | ||
| Data processing and office | | 448,520 | | 400,918 | ||
| Professional fees | | 754,806 | | 712,246 | ||
| Marketing expenses | | 61,234 | | 87,179 | ||
| FDIC insurance premiums | | | 127,000 | | | 62,400 |
| Directors fees | | | 108,235 | | | 89,256 |
| Foreclosed assets, net | | | 1,034,592 | | | — |
| Other expenses | | 527,788 | | 505,093 | ||
| Total non-interest expenses | | 7,001,989 | | 5,884,084 | ||
| Income (Loss) Before Income Taxes (Benefit) | | (246,102) | | 2,116,805 | ||
| Provision for (Benefit from) Income Taxes | | (59,108) | | 444,735 | ||
| Net Income (Loss) | | $(186,994) | | $1,672,070 | ||
| | | | | | | |
| Net income (loss) per common share-basic | | | ($ 0.09) | | | $ 0.79 |
| Net income (loss) per common share-diluted | | | ($ 0.09) | | | $ 0.79 |
| Weighted average number of common shares outstanding-basic | | | 2,042,280 | | | 2,108,612 |
| Weighted average number of common shares outstanding-diluted | | | 2,042,280 | | | 2,112,509 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.