Company: MGNO
Filing Date: 2025-03-28
Form Type: 10-K
Source: 0000927089-25-000061
Chunk: 109

Company: Magnolia Bancorp, Inc.
Filing Date: 2025-03-28
Form: 10-K
Item: Item 6
Chunk 109
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 the year ended December 31, 2024, other than Mr. Michael Hurley and Ms. Cambre whose compensation is set forth below under “—Executive Compensation.”

      Name 
      
      Board Fees Earned or Paid in Cash 

      All Other Compensation  

      Total 

      Joseph H. Andressen 
      
     $
     6,600

     $
     --

     $
     6,600

      Peyton B. Burkhalter 

     6,600

     40

     6,640

      Robert M. Hurley 

     6,600

     --

     6,600

      Jason L. Mason 

     6,600

     2,000

     8,600

Executive Compensation

The following table shows the compensation paid by Mutual Savings and Loan Association to each of our current executive officers for the years ended December 31, 2024 and 2023.

      Name and Principal Position 
      
     Year
      
     Salary

     Bonus(1)

     All Other Compensation(2)

     Total

      Michael L. Hurley 
      
     2024
      
     $
     295,630

     $
     -

     $
     59,793

     $
     355,423

      President and Chief Executive Officer 
      
     2023
      
     $
     295,630

     $
     -

     $
     59,009

     $
     354,639

      Anita C. Cambre (3) 
      
     2024
      
     $
     77,673

     $
     -

     $
     8,232

     $
     85,905

      Vice President, Chief Financial Officer and Secretary 
      
     2023
      
     $
     94,238

     $
     1,000

     $
     5,582

     $
     100,820

____________________

      (1) 
      
      Represents a discretionary bonus paid for services rendered in 2023. 

      (2) 
      
      Includes for Mr. Michael Hurley the following for 2024: (i) $24,076 automobile-related expenses, including $18,978 depreciation expense recognized by Mutual Savings and Loan Association, (ii) $22,905 of health and dental insurance premiums, representing the difference between 100% of the premium coverage for