On April 14, 2021, Marathon Bank, Wausau, Wisconsin, completed its reorganization from a mutual savings bank to the mutual holding company form of organization.
Concurrently with the reorganization, Marathon Bancorp, Inc., the newly formed holding company for Marathon Bank, completed its initial public offering. Marathon Bancorp, Inc. sold 1,003,274 shares of its common stock in the offering at $10.00 per share. Marathon Bancorp, Inc. also issued 1,226,223 shares, or 55% of its outstanding common stock, to Marathon MHC, a newly formed mutual holding company. Marathon Bancorp, Inc.’s common stock began trading on the OTC Pink Marketplace under the trading symbol “MBBC” beginning on Monday, April 19, 2021.
Luse Gorman served as legal counsel to Marathon Bancorp, Inc. and Marathon Bank in the reorganization and stock offering. The Luse Gorman team included Jeffrey Cardone, Benjamin Azoff, Brendan Saxon and Zachary Davis.
Marathon Bank has approximately $174.5 million in total assets and provides financial services from its main office and three branch offices located in Marathon and Ozaukee Counties, Wisconsin.
Since 2000, Luse Gorman has been the leading law firm in the United States in mutual holding company transactions and mutual-to-stock conversions, based on number of transactions. Click here to learn more about our capital markets and corporate finance services.