| Ticker: MFCV | 4095 Valley Pike | |
| Exchange: NASDAQ-Small Cap Market | Winchester, Virginia 22602 | |
| Industry: Financial | (540) 869-6600 |
| Type of Shares: | Common Shares | Filing Date: | 7/26/96 | |
| U.S. Shares: | 575,000 | Offer Date: | 9/26/96 | |
| Non-U.S. Shares: | 0 | Filing Range: | $4.75 - $5.75 | |
| Primary Shares: | 575,000 | Offer Price: | $5.00 | |
| Secondary Shares: | 0 | Gross Spread: | $0.35 | |
| Offering Amount: | $3,018,750 | Selling: | $0.00 | |
| Expenses: | $48,000 | Reallowance: | $0.00 | |
| Shares Out After: | 1,881,303 |
| Manager | Tier | Phone |
| McKinnon & Company, Inc. | Lead Manager | (804) 623-4636 |
| Auditor: Yount, Hyde & Barbour, P.C. | |||||
| Audited Income | Latest Unaudited Income | Prior Unaudited Income | Balance Sheet | ||
| 12/31/95 | 6/30/96 | 6/30/95 | 6/30/96 | ||
| Revenue: | $1.97 | $1.23 | $0.88 | Assets: | $41.61 |
| Net Income: | $0.42 | $0.30 | $0.18 | Liabilities: | $38.65 |
| EPS: | $0.35 | $0.23 | $0.16 | Equity: | $2.96 |
Note: Dollar amounts are in U.S. millions; Audited figures expressed as full year, unaudited figures are partial year | |||||
| Business Description |
| Marathon Financial Corporation is a bank holding company headquartered in Frederick County, Virginia. Its banking subsidiary, The Marathon Bank, began operations in December 1988 in Frederick County. At June 30, 1996 the corporation had $41.611 million assets, $31.596 million in net loans, $37.866 million in deposits, $2.963 million in stockholders' equity, and an operating tax loss carry forward of $3.226 million. During the year ended December 31, 1995, the corporation's net income grew 32.39% to $421 thousand from $318 thousand in 1994. For the six months ended June 30, 1996, the corporation's net income increased 71.75% to $304 thousand from $177 thousand for the comparable period in 1995, while total assets increased 28.96% to $41.611 million at June 30, 1996 over the June 30, 1995 levels. The annualized return on average assets and average equity for the six months ended June 30, 1996 were 1.61% and 21.55% respectively. |
| Use of Proceeds |
| The proceeds from the proposed offering will be used to support future growth of the corporation's assets, including the potential opening of new branches, and for general corporate purposes. |
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