Marathon Bancorp, Inc.

Marathon Bancorp, Inc. is a Maryland corporation formed in December 2020 to serve as the mid-tier holding company for Marathon Bank. On April 14, 2021, Marathon Bank completed its reorganization into a mutual holding company structure and a related stock offering. As a result, Marathon Bank became a wholly-owned subsidiary of Marathon Bancorp. Marathon Bancorp issued and sold 45.0% of its outstanding common stock to the public and issued 55.0% to Marathon MHC, its mutual holding company. On April 21, 2025, Marathon Bancorp completed its conversion from a mutual holding company to a stock holding company. In connection with this conversion, Marathon MHC ceased to exist. As part of the conversion, Marathon Bancorp sold 1,693,411 shares of its common stock, including 135,472 shares issued to the Employee Stock Ownership Plan (ESOP), at $10.00 per share to the public. Public stockholders' existing shares were converted into new shares at an exchange ratio of 1.3728-to-1. Following the conversion, Marathon Bancorp's common stock began trading on the Nasdaq Capital Market under the symbol "MBBC." The company generated gross proceeds of $16.9 million from the conversion, with offering expenses of $1.7 million netted against these proceeds. Marathon Bancorp also provided a term loan to the ESOP to finance its purchase of 135,472 shares.