Marathon Bancorp set for Nasdaq debut after mutual-to-stock conversion

Community bank Marathon Bancorp MBBC.O set for Nasdaq debut under symbol "MBBC" after completion of its mutual-to-stock conversion and related stock offering

Mutual-to-stock conversion occurs when financial institutions like a bank or savings association converts from mutual to stock form

Mutual bank conversions can be attractive as depositors get the first crack at any stock offering at a discounted price

Wausau, Wisconsin-headquartered MBBC has four branch offices located in Marathon, Waukesha and Ozaukee counties

Bank has about ~2.9 million outstanding shares after the sale of ~1.7 million shares in the stock offering

Janney Montgomery Scott acted as marketing agent for MBBC in the stock offering

Prior to its Nasdaq uplisting, MBBC traded over-the-counter