IF Bancorp (NASDAQ: IROQ) shareholders back ServBanc merger and bank combination

Rhea-AI Filing Summary

IF Bancorp, Inc. shareholders approved a merger agreement with ServBanc Holdco, Inc. at a special meeting held on February 3, 2026. The merger proposal received 2,447,915 votes for, 30,922 against, and 9,959 abstentions, with no broker non-votes.

Shareholders also approved a non-binding advisory resolution on compensation to be paid to named executive officers in connection with the transactions under the merger agreement, with 1,837,673 votes for, 631,233 against, and 19,890 abstentions. Based on approval of the merger, a proposal to adjourn the meeting, if necessary, was not considered. The company stated that, subject to customary closing conditions, the merger is expected to close on March 12, 2026.

Insights

Bank M&A and corporate actions analyst

Shareholders cleared IF Bancorp’s merger with ServBanc, pending closing conditions.

The special meeting approved IF Bancorp’s merger agreement with ServBanc Holdco, Inc. The main merger proposal passed with 2,447,915 votes in favor versus 30,922 against, indicating strong shareholder support for combining IF Bancorp with ServBanc-related entities.

The filing also notes approval of a non-binding advisory vote on compensation tied to the merger transactions, which passed by a wide margin. A contingency proposal to adjourn the meeting to seek more proxies was not needed because the merger agreement was already approved.

Operationally, the structure involves IF Bancorp merging with an intermediate ServBanc subsidiary, then into ServBanc Holdco, and its banking subsidiary merging into Servbank, National Association. The company indicates the merger is expected to close on March 12, 2026, subject to customary closing conditions, so subsequent updates will likely appear in future company communications or filings.

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SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(D) OF

THE SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of earliest event reported):  February 3, 2026

IF BANCORP, INC.

(Exact name of registrant as specified in its charter)

Maryland		001-35226		45-1834449
(State or Other Jurisdiction of Incorporation)		(Commission File No.)		(I.R.S. Employer Identification No.)

201 East Cherry Street, Watseka, Illinois		60970
(Address of Principal Executive Offices)		(Zip Code)

Registrant's telephone number, including area code: (815) 432-2476

Not Applicable

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐  Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐  Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐  Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐  Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

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

Title of each class		Trading Symbol(s)		Name of each exchange on which registered
Common Stock, par value $0.01 per share		IROQ		The NASDAQ Stock Market, LLC

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 5.07 Submission of Matters to a Vote of Security Holders.

A Special Meeting of Shareholders of IF Bancorp, Inc. (the “Company”) was held on February 3, 2026. The matters listed below were submitted to a vote of the shareholders and the proposals are described in detail in the definitive proxy statement filed with the Securities and Exchange Commission on December 30, 2026. The final results of the shareholder votes are as follows:

Proposal 1 – Approval of the Merger Agreement with ServBanc Holdco, Inc.

The shareholders approved the Agreement and Plan of Merger (the “Merger Agreement”), by and between ServBanc Holdco, Inc. (“ServBanc Holdco”) and the Company, pursuant to which (i) the Company will merge with and SBHI Holdings, Inc., a newly formed subsidiary of ServBanc Holdco, with the Company as the surviving corporation (the “Merger”), (ii) the Company will be merged with and into ServBanc Holdco, with ServBanc Holdco as the surviving corporation, and (iii) Iroquois Federal Savings and Loan Association, a wholly owned subsidiary of the Company, will merge with and into Servbank, National Association (“Servbank”), a wholly owned subsidiary of ServBanc Holdco, with Servbank as the surviving entity, as follows:

For	2,447,915
Against	30,922
Abstain	9,959
Broker non-votes	0

Proposal 2 – Approval of non-binding, advisory resolution to approve certain compensation payable to named executive officers

The shareholders approved the non-binding advisory proposal regarding the compensation to be paid to the named executive officers of the Company in connection with the transactions contemplated by the Merger Agreement.

For	1,837,673
Against	631,233
Abstain	19,890
Broker non-votes	0

Proposal 3 – Approval of Adjournment of Special Meeting

The proposal to adjourn the special meeting, if necessary, to solicit additional proxies if there were not sufficient votes present at the special meeting in person or by proxy to approve the Merger Agreement, was not considered by shareholders based on the approval of Proposal 1 at the special meeting.

For	2,245,315
Against	33,129
Abstain	13,097
Broker non-votes	197,255

Item 8.01 Other Events.

On February 3, 2026, the Company announced that the shareholders of the Company approved the Merger at its Special Meeting of Shareholders held on February 3, 2026. Subject to the satisfaction of customary closing conditions, the Merger is expected to close on March 12, 2026.

The press release announcing the approval of the Merger by the shareholders of the Company and the anticipated closing date of the Merger is attached as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein by reference.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits

             Exhibit No. Description

99.1 Press release dated February 3, 2026, regarding shareholder approval and anticipated closing date

104 Cover Page Interactive Data File (embedded within the Inline XBRL document)

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, hereunto duly authorized.

		IF BANCORP, INC.
Date: February 4, 2026	By:	/s/ Walter H. Hasselbring, III
		Walter H. Hasselbring, III
		Chief Executive Officer

FAQ

What merger did IF Bancorp, Inc. (IROQ) shareholders approve?

Shareholders approved an Agreement and Plan of Merger with ServBanc Holdco, Inc.. The structure includes IF Bancorp merging with SBHI Holdings, Inc. and then into ServBanc Holdco, and its bank subsidiary merging into Servbank, National Association, a ServBanc Holdco subsidiary.

How did IF Bancorp (IROQ) shareholders vote on the ServBanc merger?

The merger proposal received 2,447,915 votes for, 30,922 against, and 9,959 abstentions, with no broker non-votes. This indicates a strong approval level among voting shareholders at the special meeting held on February 3, 2026.

When is the IF Bancorp and ServBanc merger expected to close?

The company stated that, subject to satisfaction of customary closing conditions, the merger is expected to close on March 12, 2026. This expected closing date follows shareholder approval at the special meeting on February 3, 2026.

What did IF Bancorp (IROQ) shareholders decide about executive compensation related to the merger?

Shareholders approved a non-binding advisory resolution on compensation for named executive officers connected to the merger transactions. The advisory proposal received 1,837,673 votes for, 631,233 against, and 19,890 abstentions, indicating support for the disclosed compensation arrangements.

Was the proposal to adjourn IF Bancorp’s special meeting approved or used?

A proposal to adjourn the special meeting, if necessary, to solicit additional proxies for the merger approval was not considered. It became unnecessary because shareholders had already approved the merger agreement at the special meeting held on February 3, 2026.

What happens to Iroquois Federal Savings and Loan Association in the IF Bancorp merger?

Iroquois Federal Savings and Loan Association, IF Bancorp’s wholly owned subsidiary, will merge with and into Servbank, National Association, a wholly owned subsidiary of ServBanc Holdco. Servbank will be the surviving entity following completion of this subsidiary-level merger.