Timothy Wimmer
About Timothy R. Wimmer
Timothy R. Wimmer, age 61, is an independent director of Marathon Bancorp, Inc. (MBBC) and has served on the Marathon Bank board since 2015 and the MBBC board since its inception in 2020. He leads RE/MAX Excel’s commercial division and is a broker with Transworld Business Advisors in Wausau, WI (since 2011), following prior ownership of multiple small businesses across construction, retail, restaurant, and services; his community roles include prior board service with local education and youth sports organizations, reflecting strong local market ties and small-business insight relevant to a community bank’s customer base .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Marathon Bank | Director | Since 2015 | Board member providing small-business and local market perspective |
| Various small businesses (Central Wisconsin) | Owner/Operator | Prior to 2015 (various) | Operational leadership across construction, retail, restaurant, service sectors |
External Roles
| Organization | Role | Tenure | Scope/Impact |
|---|---|---|---|
| RE/MAX Excel (Wausau, WI) | Head of Commercial Division | Since 2011 | Real estate acquisitions, dispositions, leasing, property management statewide |
| Transworld Business Advisors (Wausau, WI) | Broker | Since 2011 | Business brokerage statewide in Wisconsin |
| Community organizations (e.g., Wausau School Foundation, Wausau Area Youth Football, Marathon County Youth Hockey, Granite Peak Ski Team, Wausau Area Convention and Visitors Bureau) | Director/Board roles (prior) | N/A | Community engagement and local network development |
Board Governance
- Board structure and attendance: MBBC Board held 11 regular meetings in FY2025; no director attended fewer than 75% of aggregate Board and committee meetings; independent directors meet in executive session .
- Committee memberships and chairs:
- Audit Committee: Members Grimm, Werth, Wimmer, Zientara; Chair: Amy Zientara; met 11 times in FY2025 .
- Compensation Committee: Members Grimm, Werth, Wimmer, Zientara; Chair: Amy Zientara; met 4 times in FY2025; no compensation consultant used in FY2025 .
- Nominating & Corporate Governance Committee: Members Grimm, Werth, Wimmer, Zientara; Chair: Ann M. Werth; met 1 time in FY2025 .
- Independence: Board determined all directors other than CEO Nicholas W. Zillges are independent under Nasdaq standards; independence determination considered ordinary-course deposit and loan relationships not material for related-party reporting .
- 2025 election cycle: Wimmer was nominated for a new three-year term ending following FY2028; proxy card lists Wimmer as a nominee for the November 18, 2025 annual meeting .
Fixed Compensation
| Metric | FY2024 | FY2025 |
|---|---|---|
| Fees Earned or Paid in Cash ($) | 24,100 | 24,100 |
| Stock Awards ($) | — | — |
| Option Awards ($) | — | — |
| All Other Compensation ($) | — | — |
| Total ($) | 24,100 | 24,100 |
- Director fee structure: Non-employee directors are paid $2,000 per month plus a $100 annual bonus; no additional fees for committee meetings (explains the $24,100 annual cash total) .
Performance Compensation
| Plan Feature | Detail |
|---|---|
| Equity Plan | 2022 Equity Incentive Plan, shareholder-approved (May 2022); directors eligible; historical director grants occurred in 2022 . |
| Awards Authorized (Plan-wide) | Up to 209,960 shares; options max 149,971; RSAs/RSUs max 59,988 . |
| Granted as of 6/30/2025 (Plan-wide) | 143,962 stock options and 59,573 restricted shares granted . |
| Vesting | Director and NEO stock options and restricted stock vest 20% annually over five years . |
| Change-in-Control | Vesting accelerates upon death, disability, or involuntary termination on or following a change in control . |
| Compensation Consultant | Compensation Committee did not use a consultant in FY2025 . |
| Outstanding Director Equity (as of 6/30/2025) | Count/Amount |
|---|---|
| Wimmer – Option Awards (outstanding) | 7,498 options |
| Wimmer – Stock Awards (outstanding) | 1,199 shares |
Note: No FY2024–FY2025 director equity grants are disclosed; compensation in those years was cash-only for directors, with equity originating from 2022 awards that vest over five years .
Other Directorships & Interlocks
| Company | Role | Committees | Notes |
|---|---|---|---|
| None disclosed | — | — | The MBBC proxy biography does not list other public company boards for Wimmer . |
Expertise & Qualifications
- Small-business operator with multi-industry experience; deep familiarity with local market dynamics and community relationships valued by a community bank .
- Real estate and business brokerage expertise (commercial real estate transactions and business sales) providing insight into local commercial activity and small-business credit demand .
Equity Ownership
| Holder | Shares Beneficially Owned | % of Shares Outstanding | Notes |
|---|---|---|---|
| Timothy R. Wimmer | 16,560 | <1% | As of record date September 30, 2025; 2,938,698 shares outstanding . |
| Pledging/Hedging | — | — | Anti-hedging/anti-pledging policy prohibits hedging and generally prohibits pledging; Board has not approved any exceptions; no director has pledged MBBC stock . |
Governance Assessment
- Independence and workload: Wimmer is independent and serves on all three key committees (Audit, Compensation, Nominating), which enhances board coverage but also concentrates workload; attendance thresholds were met, and committees met 11/4/1 times respectively in FY2025 .
- Compensation alignment: Director pay is straightforward and cash-heavy ($24,100 annually), with legacy 2022 equity awards vesting over five years, aligning directors with shareholders without annual equity refresh; no meeting fees reduce per-meeting incentives .
- Ownership and policies: Wimmer beneficially owns 16,560 shares (<1%); strong anti-hedging and anti-pledging policy with no exceptions granted and no pledges disclosed supports alignment and risk control .
- Conflicts/related-party: As a local real estate and business broker, potential counterparty overlap could exist; however, MBBC reports no transactions >$120,000 and no outstanding loans to directors at 6/30/2025, and independence determinations considered routine deposit/loan relationships; related-party transactions are monitored by the Audit Committee under established policies .
- Shareholder oversight signals: Audit Committee report signed by the committee including Wimmer and chaired by an independent director; external auditor ratification on ballot; governance committee criteria emphasize integrity and capacity, and limit outside public board commitments, supporting effective oversight .
Appendix: Committee Summary
| Committee | Members | Chair | FY2025 Meetings | Wimmer’s Role |
|---|---|---|---|---|
| Audit | Grimm, Werth, Wimmer, Zientara | Amy Zientara | 11 | Member |
| Compensation | Grimm, Werth, Wimmer, Zientara | Amy Zientara | 4 | Member |
| Nominating & Corporate Governance | Grimm, Werth, Wimmer, Zientara | Ann M. Werth | 1 | Member |