SEC 10K
Marathon Bancorp 10-K reveals 12% loan growth but rising deposit costs squeeze net interest margin to 2.85%, EPS flat at $1.02
Marathon Bancorp reported fiscal 2026 results showing solid balance sheet expansion but deteriorating profitability metrics. Total assets grew 9.8% to $548.6 million, led by a 12.4% surge in loans, but net interest income rose only 4.1% to $18.9 million as funding costs climbed. The bank's net interest margin compressed to 2.85% from 3.07% a year ago, reflecting intense deposit competition in its Maryland and Pennsylvania footprint. Non-interest income fell 6.7% due to a slowdown in mortgage refinancing, partially offset by higher gains on SBA loan sales. Net income remained nearly flat at $4.6 million ($1.02 per share) as higher revenue was offset by increased provisioning and operating expenses.
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Filing analysis
Marathon Bancorp reported fiscal 2026 results showing solid balance sheet expansion but deteriorating profitability metrics. Total assets grew 9.8% to $548.6 million, led by a 12.4% surge in loans, but net interest income rose only 4.1% to $18.9 million as funding costs climbed. The bank's net interest margin compressed to 2.85% from 3.07% a year ago, reflecting intense deposit competition in its Maryland and Pennsylvania footprint. Non-interest income fell 6.7% due to a slowdown in mortgage refinancing, partially offset by higher gains on SBA loan sales. Net income remained nearly flat at $4.6 million ($1.02 per share) as higher revenue was offset by increased provisioning and operating expenses.
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Source: Original SEC filing