Parent Company Only Financial Information

12 Months Ended

Jun. 30, 2022

Parent Company Only Financial Information

Parent Company Only Financial Information

Note 18 -    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, 2022 and 2021 and for the years then ended.

Parent Only Condensed Balance Sheets
	June 30,
	2022	2021
Assets
Cash in bank subsidiary	$ 3,374,104	$ 3,374,104
Investment in subsidiary, at underlying equity	26,783,484	25,842,077
Loan receivable-ESOP	843,145	873,970
Other assets	29,463	5,922
Total Assets	$ 31,030,196	$ 30,096,073
Liabilities and Stockholders' Equity
Liabilities:
Due to subsidiary bank	$ 283,896	$ 246,922
Other liabilities	3,733	-
Total liabilities	287,629	246,922
Stockholders' equity:
Total stockholders' equity	30,742,567	29,849,151
Total liabilities and stockholders' equity	$ 31,030,196	$ 30,096,073

Parent Only Condensed Statements of Income
	Years Ended June 30,
	2022	2021
Interest income:
Income on ESOP loan	$ 28,090	$ 5,922
Total interest income	28,090	5,922
Non-interest expenses:
Other non-interest expense	(88,110)	-
Total non-interest expense	(88,110)	-
Income (loss) before income taxes	(60,020)	5,922
Income taxes (benefit)	(12,031)	-
Income before equity in undistributed earnings of bank	(47,989)	5,922
Equity in undistributed earnings of bank	1,382,752	1,367,137
Net income	$ 1,334,763	$ 1,373,059

Parent Only Condensed Statements of Cash Flows
	Years Ended June 30,
	2022	2021
Cash flows from operating activities:
Net income	$ 1,334,763	$ 1,373,059
Adjustments to reconcile net income to net cash provided by operating activities:
Equity in undistributed income of bank	(1,382,752)	(1,367,137)
Increase in other assets	(23,542)	(5,922)
Increase in other liabilities	3,732	-
Net cash used in operating activities	(67,799)	-
Cash flows from investing activities:
Principal payments on loan receivable-ESOP	30,825
Capital contributed to bank subsidiary	-	(4,504,825)
Net cash provided by (used in) investing activities	30,825	(4,504,825)
Cash flows from financing activities:
Proceeds from issuance of common stock net of expenses	-	8,605,977
Initial capitalization of MHC	-	(100,000)
Funding of ESOP	-	(873,970)
Loan from subsidiary bank	36,974	246,922
Net cash provided by financing activities	36,974	7,878,929
Net change in cash and cash equivalents	-	3,374,104
Cash and cash equivalents-beginning of year	3,374,104	-
Cash and cash equivalents-end of year	$ 3,374,104	$ 3,374,104