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Parent Company Only Financial Information

12 Months Ended

Jun. 30, 2024

Parent Company Only Financial Information

Parent Company Only Financial Information

Note 20 -    Parent Company Only Financial Information

The following condensed financial statements summarize the financial position and results of operations and cash flows of the parent holding company, Marathon Bancorp, Inc., as of June 30, 2024 and 2023 and for the years then ended.

​

​	​	​	​	​
Parent Only Condensed Balance Sheets
​	​	​	​	​
​	​	June 30,
​		2024		2023
Assets	​	​	​	​
Cash in bank subsidiary	​	$ 3,374,104	​	$ 3,374,104
Investment in subsidiary, at underlying equity	​	28,955,130	​	28,727,937
Loan receivable-ESOP	​	794,906	​	819,411
Other assets	​	52,700	​	40,827
Total Assets	​	$ 33,176,840	​	$ 32,962,279
​	​	​	​	​
Liabilities and Stockholders' Equity	​	​	​	​
Liabilities:	​	​	​	​
Due to subsidiary bank	​	$ 1,870,281	​	$ 1,679,109
Other liabilities	​	11,775	​	3,652
Total liabilities	​	1,882,056	​	1,682,761
​	​	​	​	​
Stockholders' equity:	​	​	​	​
Total stockholders' equity	​	31,294,784	​	31,279,518
Total liabilities and stockholders' equity	​	$ 33,176,840	​	$ 32,962,279

​

​	​	​	​	​
Parent Only Condensed Statements of Income
​	​	​	​	​
​	​	Years Ended June 30,
​		2024		2023
Interest income:	​	​	​	​
Income on ESOP loan	​	$ 26,233	​	$ 27,017
Total interest income	​	26,233	​	27,017
​	​	​	​	​
Non-interest expenses:	​	​	​	​
Other non-interest expense	​	(97,863)	​	(80,020)
Total non-interest expense	​	(97,863)	​	(80,020)
​	​	​	​	​
Loss before income tax benefit	​	(71,630)	​	(53,003)
Income tax benefit	​	(15,923)	​	(17,345)
​	​	​	​	​
Income before equity in undistributed earnings (loss) of bank	​	(55,707)	​	(35,658)
​	​	​	​	​
Equity in undistributed earnings (loss) of bank	​	(131,287)	​	1,707,728
​	​	​	​	​
Net income (loss)	​	($ 186,994)	​	$ 1,672,070

​

​	​	​	​	​
Parent Only Condensed Statements of Cash Flows
​	​	​	​	​
​	​	Years Ended June 30,
​		2024		2023
Cash flows from operating activities:	​	​	​	​
Net income	​	($ 186,994)	​	$ 1,672,070
Adjustments to reconcile net income to net cash used in operating activities:	​	​	​	​
Equity in undistributed income (loss) of bank	​	131,287	​	(1,707,728)
Increase in other assets	​	(11,873)	​	(11,364)
Increase (decrease) in other liabilities	​	8,123	​	(81)
Net cash used in operating activities	​	(59,457)	​	(47,103)
​	​	​	​	​
Cash flows from investing activities:	​	​	​	​
Principal payments on loan receivable-ESOP	​	24,505	​	23,734
Net cash provided by investing activities	​	24,505	​	23,734
​	​	​	​	​
​	​	​	​	​
Cash flows from financing activities:	​	​	​	​
Purchase and retirement of treasury stock	​	(156,220)	​	(1,371,844)
Loan from subsidiary bank	​	191,172	​	1,395,213
Net cash provided by financing activities	​	34,952	​	23,369
​	​	​	​	​
Net change in cash and cash equivalents	​	-	​	-
​	​	​	​	​
Cash and cash equivalents-beginning of year	​	3,374,104	​	3,374,104
​	​	​	​	​
Cash and cash equivalents-end of year	​	$ 3,374,104	​	$ 3,374,104

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- Definition

The entire disclosure for condensed financial statements.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Name Regulation S-X (SX)
-Number 210
-Section 12
-Subsection 04
-Paragraph a
-Publisher SEC

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 3
-Subparagraph (SX 210.12-04(a))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480678/235-10-S99-3

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