Marathon Bancorp adopts second-step conversion; MHC to merge into company

Marathon Bancorp, Inc. /MD/

Marathon MHC, owning 57.4% of MBBC common stock, will cease to exist after conversion.
Minority stockholders' shares exchanged via ratio preserving pre-conversion ownership percentages.
Company will sell new shares in subscription/community offerings; expected completion Q2 2025.
Transaction requires regulatory approval, depositor approval, and stockholder (including minority) vote.
Eligible account holders as of Sept 30, 2023 get first priority subscription rights.

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