Welcome to our dedicated page for If Bancorp news (Ticker: IROQ), a resource for investors and traders seeking the latest updates and insights on If Bancorp stock.
IF Bancorp, Inc. (NASDAQ: IROQ) is a Maryland-incorporated savings and loan holding company for Iroquois Federal Savings and Loan Association, a community-oriented financial institution headquartered in Watseka, Illinois. News about IF Bancorp often focuses on its banking operations, financial performance and strategic corporate actions, making the IROQ news feed relevant for investors and observers of regional savings institutions.
Company press releases, many of which are furnished as exhibits to Form 8-K filings, regularly report quarterly and annual earnings, including net income, earnings per share, net interest income, net interest margin, noninterest income and expense, and asset quality metrics. These updates also provide selected balance sheet data such as total assets, deposits, loans, investment securities, borrowings and stockholders’ equity, giving readers insight into the company’s balance sheet structure and trends.
IF Bancorp’s news flow also covers dividend declarations on its common stock, with the board of directors announcing cash dividends and record and payment dates. Governance developments, such as the appointment of a new board chair, lead independent director, and president, as well as board changes linked to agreements with shareholder groups, are disclosed through press releases and related SEC filings.
A significant portion of recent IROQ news relates to strategic transactions and shareholder activity. A joint press release dated October 30, 2025, and a corresponding Form 8-K describe IF Bancorp’s agreement and plan of merger with ServBanc Holdco, Inc., including the planned subsequent merger of Iroquois Federal into Servbank, National Association. A later release dated January 14, 2026, notes that all requisite regulatory approvals for the merger and bank merger have been received and outlines the expectation to close the transaction in the first quarter of 2026, subject to shareholder approval and customary conditions.
In addition, external communications from Stilwell Activist Investments, L.P. report on a non-binding stockholder proposal recommending a prompt sale of IF Bancorp, and company filings describe a standstill agreement and the appointment of a new director pursuant to that agreement. Together, these items illustrate how corporate strategy, shareholder perspectives and regulatory milestones shape the ongoing IROQ news narrative.
ServBanc Holdco and IF Bancorp (NASDAQ: IROQ) announced they have received all requisite regulatory approvals to complete their pending merger, including the merger of their subsidiary banks.
The companies expect to complete the transaction in the first quarter of 2026, subject to customary closing conditions and IF Bancorp shareholder approval. IF Bancorp has scheduled a special shareholders' meeting for February 3, 2026 to vote on the transaction.
IF Bancorp (NASDAQ: IROQ) reported unaudited net income of $1.4M or $0.43 per share for Q1 FY2026 (three months ended Sept 30, 2025), versus $633k or $0.20 per share a year earlier. Net interest income rose to $6.2M from $4.8M as interest income was $11.1M and interest expense fell to $4.9M.
Total assets were $862.3M at Sept 30, 2025; deposits decreased to $680.3M from $721.3M (largely due to a $59.3M public tax deposit withdrawal). Cash fell to $8.0M and investment securities were $189.8M. Non-performing assets increased to $1.06M. Book value per share was $25.22.
ServBanc Holdco and IF Bancorp (NASDAQ: IROQ) entered a definitive merger agreement announced October 30, 2025, under which ServBanc Holdco and Servbank will acquire IF Bancorp and Iroquois Federal.
IF Bancorp shareholders will receive approximately $89.8 million total, or $27.20 per share in cash, subject to certain potential adjustments. The boards of both companies unanimously approved the transaction. The deal is subject to regulatory approvals, IF Bancorp shareholder approval and other customary closing conditions, and is expected to close in the first quarter of 2026. IF Bancorp has indefinitely postponed its 2025 annual shareholder meeting given the announced transaction.
IF Bancorp (NASDAQ: IROQ) reported strong financial results for fiscal year 2025, with net income surging 140.4% to $4.3 million ($1.37 per share) compared to $1.8 million ($0.57 per share) in FY2024. The fourth quarter saw net income of $1.4 million ($0.45 per share), up from $431,000 in Q4 2024.
Key financial metrics include net interest income of $20.8 million for FY2025, up from $17.7 million in FY2024. Total assets remained stable at $887.7 million, while deposits slightly decreased to $721.3 million. The company's book value per share increased to $24.42, and a quarterly cash dividend of $0.20 per share was announced, payable October 17, 2025.
The bank maintained strong asset quality with non-performing assets at just 0.02% of total assets and an allowance for credit losses of $6.6 million.IF Bancorp (NASDAQ:IROQ), the holding company for Iroquois Federal Savings and Loan Association, has declared a cash dividend of $0.20 per common share. The dividend will be paid on October 17, 2025, to stockholders of record as of September 26, 2025.
CEO Walter H. Hasselbring, III emphasized the company's commitment to enhancing stockholder value through continued semiannual dividend payments, subject to financial conditions. Iroquois Federal operates through seven full-service banking offices in Illinois and a loan production office in Missouri, offering retail and commercial lending and deposit services.
IF Bancorp reported a significant improvement in its third quarter fiscal 2025 performance, with net income reaching $1.0 million ($0.31 per share), up from $708,000 ($0.22 per share) in the same period of 2024.
Key financial highlights:
- Net interest income increased to $5.2 million from $4.3 million year-over-year
- Book value per share reached $23.55
- Total assets stood at $879.1 million
- Deposits decreased to $684.0 million, largely due to $62.7 million withdrawal from a public entity
The bank's performance showed resilience despite challenging conditions, including stalled Federal Reserve rates and a competitive deposit environment. The company's net interest margin continued to improve, contributing to enhanced quarterly results. Operating from seven full-service banking offices in Illinois and a loan production office in Missouri, IF Bancorp maintains strong asset quality with non-performing assets at just 0.04% of total assets.
IF Bancorp (NASDAQ: IROQ) has declared a cash dividend of $0.20 per common share, payable on April 15, 2025, to stockholders of record as of March 21, 2025. The company, which operates through Iroquois Federal Savings and Loan Association, maintains seven full-service banking offices across Illinois municipalities and a loan production office in Osage Beach, Missouri.
Chairman and CEO Walter H. Hasselbring, III emphasized the company's commitment to enhancing stockholder value through continued semiannual dividend payments, subject to favorable financial conditions. Iroquois Federal provides a comprehensive range of retail and commercial lending and deposit services to its community-oriented customer base.
IF Bancorp (NASDAQ: IROQ) reported significant growth in Q2 FY2025, with unaudited net income reaching $1.2 million ($0.38 per share), compared to $185,000 ($0.06 per share) in Q2 FY2024. Net interest income increased to $5.0 million from $4.4 million year-over-year.
Key financial metrics for Q2 FY2025 include: interest income of $11.0 million (up from $10.2 million), interest expense of $6.0 million (up from $5.8 million), and noninterest income of $1.3 million (up from $915,000). The company recorded a credit for credit losses of $450,000, compared to a provision of $364,000 in the previous year.
Total assets stood at $885.1 million, with net loans receivable increasing to $647.7 million. Deposits decreased to $682.1 million, primarily due to a $62.7 million withdrawal from a public entity. Book value per share reached $22.66 as of December 31, 2024.
IF Bancorp (NASDAQ: IROQ) stockholders have approved Stilwell Activist Investments' proposal to sell the company with a 3:2 margin at the 2024 Annual Meeting. Although the proposal is non-binding, it recommends that the Board of Directors take necessary steps to promptly effectuate a company sale.
Stilwell, one of IROQ's largest stockholders, stated that if the stockholder-approved proposal doesn't lead to a prompt sale, they intend to seek board representation at IROQ's 2025 annual meeting. The proposal was submitted under Rule 14a-8 of the Securities Exchange Act, citing subpar returns on company assets for many years as the primary reason for recommending the sale.
IF Bancorp (NASDAQ: IROQ) announced key leadership changes. Walter H. Hasselbring, III, current CEO, has been elected as Chair of the Boards, succeeding Gary Martin who retired due to age limits. Thomas J. Chamberlain, previously Chief Lending Officer and Senior Executive VP, has been appointed as President, while Hasselbring continues as CEO. Joseph A. Cowan, who has served as independent director since 2000, was appointed as Lead Independent Director. The restructuring combines Chair and CEO positions while maintaining board independence through the Lead Independent Director role.
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