Company: MGNO
Filing Date: 2025-08-14
Form Type: DEF 14A
Source: 0000927089-25-000145
Chunk: 12

Company: Magnolia Bancorp, Inc.
Filing Date: 2025-08-14
Form: DEF 14A
Chunk 12
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 involve more than the normal risk of collectability or present other unfavorable features.

Section 22(h) of the Federal Reserve Act generally provides that any credit extended by a savings institution, such as Mutual Savings and Loan Association, to its executive officers, directors and, to the extent otherwise permitted, principal shareholder(s), or any related interest of the foregoing, must be on substantially the same terms, including interest rates and collateral, as those prevailing at the time for comparable transactions by the savings institution with non-affiliated parties, unless the loans are made pursuant to a benefit or compensation program that (i) is widely available to employees of the institution and (ii) does not give preference to any director, executive officer or principal shareholder, or certain affiliated interests of either, over other employees of the savings institution, and must not involve more than the normal risk of repayment or present other unfavorable features.

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| EXECUTIVE COMPENSATION |

Summary Compensation Table

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 |     | $      |