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.
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Item 8. Consolidated Statements of Cash Flows
Consolidated Statements of Cash Flows
| | | | | | | |
|---|---|---|---|---|---|---|
| · · June 30, | ||||||
| | 2024 | 2023 | ||||
| Operating Activities | | | | | | |
| Net income (loss) | | $(186,994) | | $1,672,070 | ||
| Adjustments to reconcile net income (loss) to net cash from operating activities: | | | | | | |
| Depreciation | | | 244,904 | | | 205,013 |
| Provision for (recovery of) credit losses | | | (190,000) | | | — |
| Provision for valuation allowance on foreclosed assets (OREO), net | | | 937,100 | | | — |
| Amortization of deferred loan fees | | | (41,552) | | | (50,036) |
| ESOP expense | | | 33,936 | | | 40,127 |
| Stock based compensation | | | 159,100 | | | 130,628 |
| Net amortization of discounts and premiums on debt securities | | | 73,654 | | | 101,677 |
| Net gain on sale of loans | | | (174,553) | | | (129,520) |
| Realized gain on available for sale debt securities | | | — | | | (24,000) |
| Net gain on foreclosed assets (OREO), net | | | — | | | (246,751) |
| Net change in deferred taxes | | | (138,356) | | | 249,564 |
| Gain from proceeds on life insurance death benefit | | | — | | | (261,297) |
| Earnings on cash value of life insurance | | | (248,587) | | | (236,420) |
| Decrease (Increase) in interest receivable | | | 14,956 | | | (46,795) |
| Originations of loans held for sale | | | (4,392,500) | | | (3,868,410) |
| Proceeds from loans held for sale | | | 4,567,053 | | | 3,997,930 |
| Net change in operating leases | | | 2,406 | | | (6,800) |
| Net change in other assets | | | (750) | | | (21,880) |
| Net change in other liabilities | | | (243,264) | | | 484,029 |
| Net Cash from Operating Activities | | | 416,553 | | | 1,989,129 |
| Investing Activities | | | | | ||
| Net change in interest-bearing deposits in other financial institutions | | | 3,562,251 | | | (1,817,066) |
| Proceeds from life insurance death benefit | | | — | | | 966,834 |
| Proceeds from sales, maturities, and repayments of debt securities available for sale | | | 2,288,068 | | | 1,037,601 |
| Proceeds from maturities and calls of debt securities held to maturity | | | 11,594 | | | 22,828 |
| Net increase in restricted stock | | | (559,140) | | | (447,273) |
| Net change in loans | | | 14,672,675 | | | (14,121,657) |
| Purchases of property and equipment | | | (2,264,879) | | | (65,363) |
| Net Cash provided by (used in) Investing Activities | | | 17,710,569 | | | (14,424,096) |
| Financing Activities | | | | | ||
| Net change in deposits | | | (24,273,552) | | | 9,153,858 |
| Borrowings of FHLB advances | | | 5,000,000 | | | 8,000,000 |
| Purchase and retirement of common stock | | | (156,220) | | | (1,371,844) |
| Net Cash provided by (used in) Financing Activities | | | (19,429,772) | | | 15,782,014 |
| Net Change in Cash and Cash Equivalents | | | (1,302,650) | | | 3,347,047 |
| Cash and Cash Equivalents, Beginning of Year | | | 11,775,088 | | | 8,428,041 |
| Cash and Cash Equivalents, End of Year | | $10,472,438 | | $11,775,088 | ||
| Supplemental Disclosure of Cash Flow Information | | | | | ||
| Cash payments for | | | | | ||
| Interest | | $3,378,226 | | $2,234,990 | ||
| Taxes | | | 261,000 | | | 159,000 |
| Supplemental Disclosure of Non-Cash Investing and Financing Activities | | | | | ||
| Transfer of loans to foreclosed assets | | $— | | $2,087,809 | ||
| Lease liabilities and right-of-use assets arising from adoption of ASC 842 | | | 47,570 | | | 698,837 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.