Magnolia Bancorp, Inc. 8-K

What Happened
Magnolia Bancorp, Inc. (filed 8-K on January 28, 2026) notified EisnerAmper LLP that EisnerAmper will not be rehired as the Company’s independent registered public accounting firm for calendar year 2026. EisnerAmper will, however, complete its audit of the Company’s consolidated financial statements for 2025. On January 22, 2026 the Company selected Mauldin & Jenkins, LLC to serve as the independent auditor for the year ending December 31, 2026, subject to Mauldin & Jenkins’ client acceptance procedures and execution of an engagement letter.

Key Details

• EisnerAmper LLP performed the Association’s audits for the years ended December 31, 2024 and 2023; its reports were unqualified and contained no disagreements with the Company.
• The Association converted from mutual to stock form in January 2025 and became a wholly owned subsidiary of Magnolia Bancorp upon completion.
• The Company disclosed material weaknesses in internal control over financial reporting in its Form 10‑K for the year ended December 31, 2024; this was communicated to both accounting firms.
• EisnerAmper furnished a letter to the SEC dated January 28, 2026 (attached as Exhibit 16.1) in response to the 8‑K.

Why It Matters
A change in independent auditor is a governance and audit process event investors should note. EisnerAmper will finish the 2025 audit, so investors should watch the upcoming 2025 audit report for any opinions or notes. The appointment of Mauldin & Jenkins is conditional on standard acceptance procedures and an engagement letter. The filing also reiterates disclosed material weaknesses in internal controls (2024), which are relevant because they affect the reliability of financial reporting and the audit scope; investors should monitor remediation progress and future audit communications.