IPO - Magnolia Bancorp, Inc.

Form Type: 10-K

Filing Date: 2025-03-28

Corporate Action: Ipo

Type: New

Accession Number: 000092708925000061

Filing Summary: Magnolia Bancorp, Inc. was incorporated in May 2024 as part of the conversion of Mutual Savings and Loan Association from mutual to stock form, completed on January 14, 2025. The conversion allowed the Company to become the holding company for the Association, which is now a wholly owned subsidiary. Concurrently with this, Magnolia Bancorp completed its initial public offering, issuing 833,750 shares of common stock for approximately $8.3 million, with net proceeds of about $6.9 million. These proceeds were allocated with 50% to the Association and the remainder retained by the Company to support future operations and potential employee stock ownership plans. The document outlines the business activities, regulatory framework, and market focus of Magnolia Bancorp, emphasizing its reliance on earnings from investments and dividends from Mutual Savings. The Company aims to continue focusing on its core business of originating residential mortgage loans and deposit accounts. The filing includes comprehensive risk factors and details on operational strategies, underscoring the competitive landscape and market conditions affecting performance. The report also discusses the economic environment and local demand factors impacting its financial services and growth prospects.

Form Type: 8-A12G

Filing Date: 2025-01-14

Corporate Action: Ipo

Type: New

Accession Number: 000092708925000022

Filing Summary: Magnolia Bancorp, Inc. filed Form 8-A12G for the registration of its common stock with par value of $.01 per share pursuant to Section 12(g) of the Securities Exchange Act of 1934. The securities are part of the prospectus related to their Regulation A offering and initially filed under Registration Statement on Form S-1 (File No. 333-281796) on August 27, 2024. The filing includes descriptions of the company’s capital stock and mentions potential restrictions related to acquisitions, enhancing control provisions outlined in their Articles of Incorporation and Bylaws. The registration enhances the company's position to conduct an initial public offering, broadening its capital access and market presence.