MARATHON BANCORP
10-K/A, 1996-06-18
STATE COMMERCIAL BANKS
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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549



FORM 10-KSB

1



[x]  ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE

              SECURITIES EXCHANGE ACT OF 1934 (Fee required)

1

                  For the fiscal year ended                     
   December 31, 1995                                    



                                                                
             OR



[  ]  TRANSITION REPORT PURSUANT TO SECTION 13 or 15(d) OF THE

               SECURITIES EXCHANGE ACT OF 1934 (No fee required)



For the transition period from _______ to _________         



Commission file number                 0-12510            



                  

                                                        
MARATHON BANCORP                                                
           

                                                             
(Name of small business issuer in its charter)



                                    California                  
                                              95-3770539        
           

  (State or other jurisdiction of incorporation or origination) 
                                    (I.R.S. Employer
Identification No.)  



           11444  West Olympic Boulevard, Los Angeles,
California                                     90064     

                               (Address of principal executive
offices)                                                        
                           (Zip Code)



Issuer's telephone number:   (310) 996-9100                     
                               



Securities registered pursuant to Section 12(b) of the Exchange
Act:      None      



Securities registered pursuant to Section 12(g) of the Exchange
Act:

1

                                               Common Stock, no
par value                                                       
                                                                
                 (Title of Class)

     Check whether the issuer (1) has filed all reports required
to be filed by Section 13 or 15(d) of the Exchange Act during
the past 12 months (or for such shorter period that the
registrant was required to file such reports), and (2) has been
subject to such filing requirements for the past 90 days.    
Yes    X    No        



     Check if there is no disclosure of delinquent filers in
response to Item 405 of Regulation S-B is not contained herein,
and will not be contained, to the best of registrant's
knowledge, in definitive proxy or information statements
incorporated by reference in Part III of this Form 10-KSB or any
amendment to this Form 10-KSB.   [    ]

     State issuer's revenues for its most recent fiscal year.   
 $6,074,500     



     State the aggregate market value of the voting stock held
by non-affiliates computed by reference to the price at which
the stock was sold, or the average bid and asked prices of such
stock, as of March 1, 1996.     $4,058,500   .  Solely for the
purpose of this calculation, all                                
                                         SIGNATURES





	Pursuant to the requirements of Section 13 or 15(d) of the
Securities Exchange Act of 1934, the registrant has duly caused
this report to be signed on its behalf by the undersigned,
thereunto duly authorized, on the 15th day of April 1996.



								MARATHON BANCORP (Registrant)



                                                                
                                                                
                              

								Nikolas Patsaouras

								Chairman of the Board



	`Pursuant to the requirements of the Securities Exchange Act of
1934, this report has been signed below by the following persons
on behalf of the registrant and in the capacities and on the
dates indicated.



                                Signature                       
                                      Title                     
                                   Date              







                                                           
		Chairman of the Board		April 15, 1996



Nikolas Patsaouras                 





                                                           
		Director, Chief Financial		April 15, 1996

                                                         
		Officer and Principal 

C. Thomas Mallos                               		Accounting
Officer



                                                           
		Director				April 15, 1996



Robert J. Abernethy





                                                           
		Director				April 15, 1996



Frank W. Jobe, M.D.





                                                          
		Director and President		April 15, 1996



John Maloney





                                                           
		Director and Secretary		April 15, 1996



Robert L. Oltman





                                                           
		Director and Assistant		April 15, 1996

Ann Pappas                                         		Chief
Financial Officer





                                                          
		Director				April 15, 1996



Michael V. Reyes

<PAGE>
                                                                
       EXHIBIT INDEX











Exhibit No.               Description                           
                                                                
                                 Page



  3.1		Articles of Incorporation (4)						*  



  3.2		Bylaws (4)								*  



10.1		Company Office Lease - Suite 280 (3)					*



10.2		Bank Office Lease - Suite 180 (3)					*



10.3		Bank Office Lease - Suite 110 (5)					* 



10.4		Company and Bank Office Lease

		commencing September 1, 1992 (6)				 	*



10.5		Employment Agreement of J F. Morrow II (4)				*



10.6		1983 Stock Incentive Plan (1)						*



10.7		Form of Non-Qualified Stock Option Agreement

		(1983 Stock Incentive Plan) (1)						*



10.8		Amendments to the Marathon Bancorp 1983 Stock

		Incentive Plan (5)							* 



10.9		Form of Incentive Stock Option Agreement (1)				*

 

10.10		1986 Non-Qualified Stock Option Plan, as amended (2)			*

  

10.11		Form of Non-Qualified Stock Option Agreement 

		(1986 Non-Qualified Stock Option Plan) (2)				*



10.12		Form of 1990 Stock Option Plan (5)					* 



10.13		Form of Non-Qualified Stock Option Agreement -  

		Director Option (1990 Stock Option Plan) (5)				*



10.14		Form of Non-Qualified Stock Option Agreement

		(1990 Stock Option Plan) (5)						* 



10.15		Form of Incentive Stock Option Agreement 

		(1990 Stock Option Plan) (5)						* 



13.		Annual Report to Shareholders for the year ended

		December 31, 1994 (parts not incorporated by reference

		are furnished for informational purposes and are not

		filed herewith)							           26 

<PAGE>
                                                               
EXHIBIT INDEX (Continued)









Exhibit No.               Description                           
                                                                
                                    Page



21.		Subsidiaries of Company						 27 



23.		Accountants' Consent 							 29



99.1		Proxy Statement for Annual Meeting of Shareholders

		to be held on June 19, 1996						 30







___________________

  *  Not Applicable



(1)   These exhibits are contained in the registrants'
Registration Statement on Form S-1

        (Registration No. 2-83674), declared effective by the
Commission on July 12, 1983, and

        are incorporated herein by reference.



(2)   These exhibits are contained in the registrants' Annual
Report on Form 10-K for the fiscal

        year ended December 31, 1986 (Commission File No.
2-83191), filed with the Commission

        on March 27, 1987, and are incorporated herein by
reference.



(3)   These exhibits are contained in the registrants' Annual
Report on Form 10-K for the fiscal

        year ended December 31, 1987 (Commission File No.
2-83191), filed with the Commission

        on March 28, 1988, and are incorporated herein by
reference.



(4)   These exhibits are contained in the registrants' Annual
Report on Form 10-K for the fiscal

        year ended December 31, 1988 (Commission File No.
0-012510), filed with the Commission

        on March 20, 1989, and are incorporated herein by
reference.



(5)   These exhibits are contained in the registrants' Annual
Report on Form 10-K for the fiscal

        year ended December 31, 1989 (Commission File No.
0-012510), filed with the Commission

        on March 19, 1990, and are incorporated herein by
reference.



(6)   These exhibits are contained in the registrants' Annual
Report on Form 10-K for the fiscal

        year ended December 31, 1991 (Commission File No.
0-012510), filed with the Commission

        on March 19, 1992, and are incorporated herein by
reference.<PAGE>



<TABLE> <S> <C>

<ARTICLE> 9
       
<S>                             <C>
<PERIOD-TYPE>                   12-MOS
<FISCAL-YEAR-END>                          DEC-31-1995
<PERIOD-END>                               DEC-31-1995
<CASH>                                         8450300
<INT-BEARING-DEPOSITS>                          497000
<FED-FUNDS-SOLD>                              14400000
<TRADING-ASSETS>                                     0
<INVESTMENTS-HELD-FOR-SALE>                    3302900
<INVESTMENTS-CARRYING>                         6610700
<INVESTMENTS-MARKET>                                 0
<LOANS>                                       50170900
<ALLOWANCE>                                   (720100)
<TOTAL-ASSETS>                                86754600
<DEPOSITS>                                    82529900
<SHORT-TERM>                                         0
<LIABILITIES-OTHER>                             249200
<LONG-TERM>                                          0
                                0
                                          0
<COMMON>                                       8080000
<OTHER-SE>                                   (4104500)
<TOTAL-LIABILITIES-AND-EQUITY>                 3975500
<INTEREST-LOAN>                                4811900
<INTEREST-INVEST>                               848000
<INTEREST-OTHER>                                414600
<INTEREST-TOTAL>                               6074500
<INTEREST-DEPOSIT>                             1312500
<INTEREST-EXPENSE>                                9500
<INTEREST-INCOME-NET>                          4752500
<LOAN-LOSSES>                                   561100
<SECURITIES-GAINS>                                   0
<EXPENSE-OTHER>                                5853500
<INCOME-PRETAX>                              (1402800)
<INCOME-PRE-EXTRAORDINARY>                   (1402800)
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                 (1402800)
<EPS-PRIMARY>                                   (1.12)
<EPS-DILUTED>                                   (1.12)
<YIELD-ACTUAL>                                    6.30
<LOANS-NON>                                     523000
<LOANS-PAST>                                         0
<LOANS-TROUBLED>                                 60600
<LOANS-PROBLEM>                                2354900
<ALLOWANCE-OPEN>                                796500
<CHARGE-OFFS>                                   740000
<RECOVERIES>                                    102500
<ALLOWANCE-CLOSE>                               720100
<ALLOWANCE-DOMESTIC>                            720100
<ALLOWANCE-FOREIGN>                                  0
<ALLOWANCE-UNALLOCATED>                              0
        

</TABLE>


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