Marathon Bancorp, Inc. /MD/ Reports Net Income of $1.67 Million for the Year
Annual Revenue Reaches $10.98 Million
Marathon Bancorp, Inc. /MD/ [MBBC] has released its financial results for the year ended June 30, 2023. The company reported a net income of $1.67 million, representing a solid performance in a challenging economic environment. The total annual revenue reached $10.98 million, demonstrating steady growth for the company.
Financial Performance
The financial performance of Marathon Bancorp, Inc. /MD/ remained strong, with net interest income increasing to $6.70 million compared to $6.21 million in the previous year. This increase was primarily driven by higher interest income from loans and debt securities. Non-interest income also showed a positive trend, amounting to $1.30 million, up from $1.12 million in the previous year. The company's non-interest expenses increased slightly to $5.88 million, mainly due to higher salaries and employee benefits.
