Company: MGNO
Filing Date: 2025-08-14
Form Type: DEF 14A
Source: 0000927089-25-000145
Chunk: 11

Company: Magnolia Bancorp, Inc.
Filing Date: 2025-08-14
Form: DEF 14A
Chunk 11
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 A shareholder who desires to recommend a prospective nominee for the Board of Directors should notify our Corporate Secretary in writing providing whatever supporting material the shareholder considers appropriate. Any shareholder wishing to make a nomination must follow our procedures for shareholder nominations which are described under “Shareholder Proposals, Nominations and Communications with the Board of Directors.”

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Director Compensation

Each director of Mutual Savings and Loan Association currently receives $550 monthly, regardless of meeting attendance. The board of directors Mutual Savings and Loan Association met 12 times during the year ended December 31, 2024. Each of the current directors of Magnolia Bancorp also serves as a director of Mutual Savings and Loan Association. No additional director fees are currently being paid to directors for their service on the Magnolia Bancorp board of directors.

The following table sets forth total compensation paid to directors of Mutual Savings and Loan Association during 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 |

Transactions With Related Persons

Mutual Savings and Loan Association offers extensions of credit to its directors, officers and employees as well as members of their immediate families for the financing of their primary residences and other purposes. These loans are made in the ordinary course of business, on substantially the same terms, including interest rates and collateral, as those prevailing at the time for comparable loans with persons not related to Mutual Savings and Loan Association, and none of such loans