If Bancorp Stock Price, News & Analysis

IF Bancorp, Inc. (NASDAQ: IROQ) is a savings and loan holding company in the finance and insurance sector. According to its public disclosures, IF Bancorp is the holding company for Iroquois Federal Savings and Loan Association, a community-oriented financial institution. The company’s activities center on directing, planning and coordinating the business of Iroquois Federal, which takes deposits from the general public and invests those funds in a variety of loans and other interest-earning assets.

The company’s banking operations are conducted through Iroquois Federal, which is described in multiple filings and press releases as being originally chartered in 1883 and headquartered in Watseka, Illinois. Iroquois Federal conducts its operations from seven full-service banking offices located in Watseka, Danville, Clifton, Hoopeston, Savoy, Champaign and Bourbonnais, Illinois, and from a loan production office in Osage Beach, Missouri. This footprint reflects a focus on serving customers in central and east-central Illinois, with additional lending activity in Missouri through the loan production office.

According to the company’s description in its news releases, Iroquois Federal offers a broad array of retail and commercial lending and deposit services. Polygon’s profile of IF Bancorp further notes that the company, together with its association, takes deposits from the general public and invests those deposits, along with funds generated from operations and borrowings, in various types of loans. These include multi-family residential and mortgage loans, commercial real estate loans, home equity lines of credit, and consumer loans. The association also offers a variety of deposit accounts and alternative delivery channels, as described in the Polygon summary.

In addition to traditional banking products and services, IF Bancorp’s structure includes a wholly owned subsidiary of the association, L.C.I. Service Corporation. Company disclosures state that the principal activity of L.C.I. Service Corporation is the sale of property and casualty insurance. Polygon’s description adds that the group also offers annuities, mutual funds, individual securities, managed accounts, and other financial services. These activities expand the company’s presence beyond core savings and loan operations into broader financial services and insurance distribution.

Business model and activities

Based on the company’s public statements, IF Bancorp’s business model is built around the traditional savings institution approach of gathering deposits and investing in loans and securities. The association’s lending activities, as summarized in Polygon data, span multi-family residential and mortgage lending, commercial real estate lending, home equity lines of credit, and consumer loans. These loan categories, together with investment securities, generate interest income, while deposits and other borrowings represent key funding sources.

Company earnings releases repeatedly reference net interest income, net interest margin, and provision or credit for credit losses, underscoring the importance of interest-earning assets and funding costs to its financial performance. The releases also highlight noninterest income and noninterest expense, reflecting fee-based revenues and operating costs associated with its banking and insurance activities.

Through Iroquois Federal’s seven full-service offices in Illinois and its loan production office in Missouri, IF Bancorp serves individuals and businesses with retail and commercial lending and deposit services. The company’s disclosures describe Iroquois Federal as a community-oriented financial institution, indicating a focus on local markets within its branch network.

Insurance and investment-related services

The association’s wholly owned subsidiary, L.C.I. Service Corporation, is identified in multiple press releases as having its principal activity in the sale of property and casualty insurance. Polygon’s profile further states that IF Bancorp, in addition to traditional banking products and services, offers a full line of property and casualty insurance products, annuities, mutual funds, individual securities, managed accounts, and other financial services. These activities provide customers with access to insurance and investment-related offerings alongside their banking relationships.

Corporate structure and regulatory status

IF Bancorp, Inc. is incorporated in Maryland and is identified in SEC filings as a registered savings and loan holding company under the Home Owners’ Loan Act of 1933, as amended. Its common stock, with a par value of $0.01 per share, trades on The NASDAQ Stock Market under the symbol IROQ, as shown in multiple Form 8-K filings.

The company’s primary banking subsidiary, Iroquois Federal Savings and Loan Association, is described in SEC filings as a federal savings and loan association with its principal office in Watseka, Illinois. IF Bancorp’s regulatory filings also reference its status as a savings and loan holding company and describe its relationship with Iroquois Federal and L.C.I. Service Corporation.

Pending merger with ServBanc Holdco, Inc.

According to a Form 8-K filed on October 30, 2025, and related press releases, IF Bancorp entered into an Agreement and Plan of Merger with ServBanc Holdco, Inc., an Arizona corporation and registered bank holding company. Under this agreement, IF Bancorp will merge with a to-be-formed Maryland subsidiary of ServBanc Holdco, with IF Bancorp as the surviving corporation in that initial step. Immediately following that merger, IF Bancorp will be merged with and into ServBanc Holdco, with ServBanc Holdco surviving. Subsequently, Iroquois Federal Savings and Loan Association will be merged with and into Servbank, National Association, a national banking association and wholly owned subsidiary of ServBanc Holdco, with Servbank as the surviving entity.

The Form 8-K and joint press releases state that, under the terms of the merger agreement, each share of IF Bancorp common stock outstanding at the effective time of the merger will be converted into the right to receive cash based on a total cash consideration of $89.8 million, divided by the number of shares outstanding, subject to adjustments tied to the company’s tangible common equity. The company’s disclosures indicate that the transaction is subject to shareholder approval, regulatory approvals, and other customary closing conditions.

A later joint press release dated January 14, 2026, states that ServBanc Holdco and IF Bancorp have received all requisite regulatory approvals to complete the pending merger and the merger of their subsidiary banks, and that they expect to complete the proposed transaction in the first quarter of 2026, subject to the satisfaction of customary closing conditions, including IF Bancorp shareholder approval. The same release notes that IF Bancorp is scheduled to hold a special shareholders’ meeting on February 3, 2026, to vote on the transaction.

Shareholder and governance developments

Several filings and news items describe shareholder and governance developments at IF Bancorp. A press release dated November 26, 2024, reports that the boards of IF Bancorp and Iroquois Federal unanimously elected Walter H. Hasselbring, III as Chair of the Boards, and appointed Thomas J. Chamberlain as President of the company and the association, with Mr. Hasselbring continuing as Chief Executive Officer. The same release notes the appointment of Joseph A. Cowan as Lead Independent Director.

A separate news item dated December 3, 2024, from Stilwell Activist Investments, L.P. states that, at IF Bancorp’s 2024 Annual Meeting of Stockholders, stockholders approved a non-binding proposal recommending that the board of directors take all necessary steps to promptly effectuate a sale of the company. Subsequent Form 8-K filings in September 2025 describe an agreement with the Stilwell Group and the appointment of Scott J. Dworschak to the boards of IF Bancorp and Iroquois Federal pursuant to that agreement.

Dividend practices

IF Bancorp’s press releases and Form 8-K filings document a pattern of cash dividends on its common stock. For example, a press release dated August 13, 2025, and a corresponding Form 8-K state that the board of directors declared a cash dividend of $0.20 per common share, to be paid on October 17, 2025, to stockholders of record as of September 26, 2025. A similar dividend of $0.20 per common share was announced on February 12, 2025, with payment scheduled for April 15, 2025, to stockholders of record as of March 21, 2025. In both releases, the company characterizes the payment of dividends as part of its long-term approach to enhancing stockholder value, while noting that future dividends depend on its financial position and other conditions.

Earnings reporting and financial metrics

IF Bancorp regularly reports its financial results through press releases that are furnished as exhibits to Form 8-K filings. These releases provide information on net income, earnings per share, net interest income, interest income, interest expense, provision or credit for credit losses, noninterest income, noninterest expense, and income tax expense for various periods. They also present selected balance sheet data, including total assets, cash and cash equivalents, investment securities, net loans receivable, deposits, total borrowings, and total stockholders’ equity, along with measures such as book value per share, return on average assets, return on average equity, net interest margin on average interest-earning assets, and asset quality ratios.

These disclosures emphasize the role of net interest margin and credit loss provisioning in the company’s performance, and they highlight changes in deposits, loans, borrowings, and equity over time. The company’s releases also discuss factors such as the competitive environment for deposits and the impact of interest rate conditions on its results.

Status considerations

As of the latest filings and news provided, IF Bancorp remains a NASDAQ-listed company with the trading symbol IROQ, and it has entered into a definitive merger agreement with ServBanc Holdco, Inc. The company has disclosed that regulatory approvals for the merger and related bank merger have been obtained, and that completion of the transaction is expected in the first quarter of 2026, subject to shareholder approval and other customary closing conditions. Users researching IROQ should review the most recent SEC filings and company announcements for updates on the completion of the merger and any resulting changes to the company’s corporate structure or listing status.