Company: MGNO
Filing Date: 2025-01-03
Form Type: 10-Q/A
Source: 0000927089-25-000009
Chunk: 1

Company: Magnolia Bancorp, Inc.
Filing Date: 2025-01-03
Form: 10-Q/A
Chunk 1
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 growth company" in Rule 12b-2 of the Exchange Act.

| Large accelerated filer ☐ |     | Accelerated filer ☐         |
| Non-accelerated filer ☒   |     | Smaller reporting company ☒ |
|                           |     | Emerging growth company ☒   |

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐ Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).

| ☐ Yes | ☒ No |

Indicate the number of shares outstanding of each of the Issuer's classes of common stock, as of the latest practicable date. Noshares outstanding. Magnolia Bancorp, Inc (the “Company,”) was incorporated in May 2024, to serve as the savings and loan holding company for Mutual Savings and Loan Association (the “Association”) upon consummation of the Association’s conversion from the mutual form of origination to the stock form of organization. As of September 30, 2024, the conversion has not yet been consummated and the Company had no assets or liabilities and had not conducted any business activities other than organizational activities. Accordingly, the financial statements, related notes, and other financial information included in this report relate primarily to the Association. The unaudited financial statements and other financial information contained in this report should be read in conjunction with the audited financial statements, and related notes, of the Association for the year ended December 31, 2023, contained in the Company’s definitive prospectus dated November 8, 2024, as filed with the Securities and Exchange Commission (“SEC”) on November 18, 2024. The Form 10-Q for the quarter ended September 30, 2024 is being amended to (a) include the Inline XBRL financial information and interactive data file (see Exhibits 101 and 104), (b) correct the beginning and ending retained earnings amounts in the nine months ended September 30, 2024 column in the Statements of Changes in Retained Earnings, (c) correct the weighted average yield on loans in the 2023 column in the first table in Note 2 on page 9 and (d) make certain other minor changes. 2

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