Company: MGNO
Filing Date: 2025-12-09
Form Type: 8-K
Source: 0000927089-25-000215
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Company: Magnolia Bancorp, Inc.
Filing Date: 2025-12-09
Form: 8-K
Item: Item 7.01
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Item      7.01      Regulation FD Disclosure  

Magnolia Bancorp, Inc. (the “ Company”) announced today that its Board of Directors approved the Company’s first stock repurchase program. The new repurchase program provides for the repurchase of up to 33,350 shares, representing 4.0% of the Company’s outstanding common stock, from time to time in open market or privately negotiated transactions. The stock repurchase program will commence on January 15, 2026, following the one-year anniversary of the mutual to stock conversion of the Company’s wholly owned subsidiary, Mutual Savings and Loan Association.

The repurchased shares will be used to fund the Company’s 2025 Recognition and Retention Plan and Trust Agreement. The Compensation Committee granted plan share awards for a total of 16,280 shares of common stock on November 20, 2025, with the first scheduled vesting date of each of the awards being November 20, 2026.

The Company also entered into a Rule 10b5-1 plan with Keefe, Bruyette & Woods, Inc. (“ KBW”) on December 8, 2025, pursuant to which KBW shall comply with the applicable requirements of Rule 10b-18 under the Securities Exchange Act of 1934, as amended in connection with purchases of stock in the open market pursuant to the plan.