Marathon Bancorp

What Marathon Bancorp does

Marathon Bancorp, Inc. is a Wisconsin-based bank holding company that operates a single banking subsidiary, Marathon Bank, providing traditional, commercial, and mortgage banking services across five Wisconsin branches located in Mosinee, Rothschild, Wausau, Mequon, and Brookfield. The company traces its origin to 1902 as Marathon County's original community bank and serves both consumer and business customers through deposit products (checking, savings, money market, CDs, IRAs), residential, commercial, and construction loans, mortgages, home equity loans, small business loans, cash management products, and online/digital banking services. Distribution is anchored by the five-branch physical network, which extends beyond the legacy Marathon County footprint into Waukesha and Ozaukee Counties in southeastern Wisconsin, supplemented by feature-rich online and mobile banking channels.

The business model is a conventional community bank spread model. Revenue is generated through net interest income on loans and securities, mortgage origination fees, deposit-related fees, and commercial cash management fees. The company employs 51-100 people and operates without a public API, third-party integrations, or disclosed proprietary technology beyond standard banking platforms. No pricing details are publicly disclosed, consistent with retail-style transactional banking relationships. The customer base spans consumer/individual banking, commercial banking, mortgage banking, and small business banking segments across Marathon, Waukesha, and Ozaukee Counties.

In April 2025, Marathon Bancorp completed its second-step conversion from the Marathon MHC mutual holding company to a fully public stock holding company, raising approximately $16.9 million through a stock offering of 1,693,411 shares at $10.00 per share. Common stock began trading on Nasdaq under ticker MBBC on April 22, 2025, with approximately 2,942,064 shares outstanding post-conversion. In April 2026, the company adopted its inaugural stock repurchase program covering up to 5% of outstanding shares, and in June 2026 the CEO, COO, and EVP made open-market stock purchases signaling insider confidence following a 50%+ trailing twelve-month stock return.

Name

Marathon Bancorp

Legal name

Marathon Bancorp, Inc.

Website

https://marathonbancorp.com

Company type

Public

Founded year

1902

Operating status

Operating

Headcount range

51–100 employees

Short description

Marathon Bancorp is a Wisconsin-based community bank holding company operating Marathon Bank across five branches, providing traditional, commercial, and mortgage banking services to consumer and business customers in Marathon, Waukesha, and Ozaukee Counties.

Ownership category

akta.pro rank

Product category

Community Banking

NAICS

Savings Institutions and Other Depository Credit Intermediation (52218)

SIC

Savings Institutions, Not Federally Chartered (6036)

akta.pro primary industry

Mass-Market Consumer Deposit Banking (Checking/Savings) (FSABAAAA)

akta.pro secondary industries

SME Deposits & Business Accounts (Operating, Savings, CDs) (FSABABAC), Branch & In-Person Banking (Teller/ATM Networks) (FSABAAAE)

Keywords

• Community banking services
• Commercial lending
• Mortgage banking
• Retail deposits
• Small business loans

Headquarters

HQ city

Wausau

HQ country

United States

HQ region

North America

Offices5 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure

Distribution channels2 records

Marketing channels2 records

Core offering

Marathon Bancorp operates as a community bank holding company through its wholly owned subsidiary Marathon Bank, providing traditional deposit products such as checking, savings, money market accounts, certificates of deposit (CDs), and individual retirement accounts (IRAs). The company also originates a range of loans including residential, commercial, construction, mortgage, home equity, and small business loans, and offers cash management products and online banking services to consumers and businesses in Wisconsin.

Product overview

Marathon Bancorp operates as a single-platform community bank through its subsidiary Marathon Bank, offering a unified portfolio of traditional banking products. The company provides deposit services (checking, savings, money market, CDs, IRAs) alongside lending products (residential, commercial, and construction loans, mortgages, home equity loans, small business loans). Business banking services include cash management products and feature-rich online services. The product portfolio is integrated under Marathon Bank brand, with no modular or add-on structure—the company provides standard community banking services rather than a platform-plus-modules architecture.

Differentiator

Problem solved

Functional benefit

Products and services

• Traditional Deposit Services Traditional deposit products including checking accounts, savings accounts, money market accounts, certificates of deposit (CDs), and individual retirement accounts (IRAs), provided to consumer and business customers in Wisconsin.
• Residential Loans Mortgage loans for residential property purchases and refinancing options for individual homeowners and home buyers.
• Commercial Loans Commercial lending products serving business customers with financing for operational needs, real estate acquisitions, and business expansion.
• Construction Loans Financing for construction and development projects, including residential and commercial construction projects.
• Mortgages Mortgage banking services including residential mortgage originations, refinances, and mortgage banking operations.
• Home Equity Loans Credit products secured by home equity, allowing customers to borrow against the value of their owned properties.
• Small Business Loans Loan products specifically designed for small business financing needs, including working capital and equipment purchases.
• Cash Management Products Business banking services providing cash management solutions for commercial customers, including liquidity management and transaction services.
• Online and Mobile Banking Services Feature-rich online and digital banking services for both retail and business customers, providing account access and management capabilities.

Segments4 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Three partnerships are on record, tiered core and minor.

• Luse Gorman, PCcoreOthers · 16 April 2025Served as legal counsel to Marathon Bancorp, Inc., Marathon MHC, and Marathon Bank in connection with the conversion transaction and related stock offering.
• Hogan Lovells US LLPminorOthers · 16 April 2025Acted as legal counsel to Janney Montgomery Scott LLC in connection with the stock offering.
• Continental Stock Transfer & Trust CompanyminorOthersServes as the company's transfer agent, responsible for mailing Direct Registration System Book-Entry statements for shares and handling fractional share payments. Located at 1 State Street, 30th Floor, New York, NY 10004-1561.

Scale indicators5 records

Recent moves8 records

Expansion highlights4 records

Direct peers

• Nicolet Bankshares: Wisconsin-based publicly traded bank holding company operating community banking franchises across similar northern/central Wisconsin markets; comparable scale, business mix, and geographic footprint to Marathon Bancorp.
• Equity Bancshares: Mid-size community bank holding company with traditional deposit, commercial, and mortgage offerings across Midwest markets; parallel business model and scale to Marathon Bancorp.
• Citizens Community Bancorp: Wisconsin-headquartered community bank holding company with consumer, small business, and mortgage banking focus; highly comparable geography and business mix to Marathon Bancorp.
• S&T Bancorp: Pennsylvania-based community bank holding company serving consumer, commercial, and small business customers; comparable size and product mix to Marathon Bancorp.
• HBT Financial: Midwest-focused bank holding company operating community banking subsidiaries with similar mix of consumer, commercial, and mortgage lending; comparable size and recent IPO/listing dynamics.
• Bank First Corporation: Wisconsin community bank holding company (NASDAQ: BFC) offering consumer, commercial, and mortgage banking across Wisconsin; closely comparable in product mix, market, and business model to Marathon Bancorp.
• Mercantile Bank Corporation: Community-oriented bank holding company providing commercial, retail, and mortgage banking; comparable model as a smaller, publicly traded regional bank.
• First Mid Bancshares: Community-focused bank holding company operating across the Midwest with consumer, commercial, and mortgage lending — closely aligned scope, scale, and product breadth to Marathon Bancorp.

Broad incumbents

• Lakeland Financial Corporation: Indiana-based community bank holding company (Lake City Bank) with similar community banking model but larger scale; relevant for benchmarking a more mature community banking franchise.

Regional players

• North Shore Bank: Wisconsin-based mutual savings bank offering traditional consumer deposit and lending products; overlaps with Marathon Bank's Wisconsin footprint and savings-bank charter model.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat3 records

Key risks6 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/marathon-bancorp

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles9 records

Subsidiaries1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Marathon Bancorp