Financial Services - Banks - Regional - NASDAQ - US
$ 19.85
-6.06 %
$ 66.6 M
Market Cap
32.02
P/E
IF Bancorp, Inc. operates as the savings and loan holding company for Iroquois Federal Savings and Loan Association that provides a range of banking and financial services to individual and corporate clients. The company offers various deposit accounts, including savings accounts, certificates of deposit, money market accounts, commercial and personal checking accounts, individual retirement accounts, and health savings accounts. It also provides loans comprising one- to four-family residential mortgage loans; multi-family mortgage loans; commercial real estate loans, such as farm loans; home equity lines of credit; commercial business loans; and consumer loans primarily consisting of automobile loans, as well as construction loans and land development loans.[ Read More ]
The intrinsic value of one IROQ stock under the base case scenario is HIDDEN Compared to the current market price of 19.9 USD, IF Bancorp, Inc. is HIDDEN
2. FUNDAMENTAL
ANALYSIS
Price Chart IROQ
FINANCIALS
22.1 M
REVENUE
2.36 M
OPERATING INCOME
1.79 M
NET INCOME
2.28 M
OPERATING CASH FLOW
-39.8 M
INVESTING CASH FLOW
36.1 M
FINANCING CASH FLOW
12.3 M
REVENUE
851 K
OPERATING INCOME
633 K
NET INCOME
2.17 M
OPERATING CASH FLOW
-4.04 M
INVESTING CASH FLOW
90 K
FINANCING CASH FLOW
Balance Sheet Decomposition
IF Bancorp, Inc.
| Current Assets | 6.19 M |
| Cash & Short-Term Investments | 6.19 M |
| Receivables | 0 |
| Other Current Assets | 0 |
| Non-Current Assets | 203 M |
| Long-Term Investments | 190 M |
| PP&E | 10.6 M |
| Other Non-Current Assets | 1.49 M |
| Current Liabilities | 0 |
| Accounts Payable | 3.01 M |
| Short-Term Debt | 0 |
| Other Current Liabilities | -3.01 M |
| Non-Current Liabilities | 814 M |
| Long-Term Debt | 58.2 M |
| Other Non-Current Liabilities | 756 M |
EFFICIENCY
Earnings Waterfall
IF Bancorp, Inc.
| Revenue | 22.1 M |
| Cost Of Revenue | 0 |
| Gross Profit | 22.1 M |
| Operating Expenses | 22.1 M |
| Operating Income | 2.36 M |
| Other Expenses | 565 K |
| Net Income | 1.79 M |
RATIOS
100.00%
GROSS MARGIN
10.66%
OPERATING MARGIN
8.11%
NET MARGIN
2.42%
ROE
0.20%
ROA
1.35%
ROIC
FREE CASH FLOW ANALYSIS
Free Cash Flow Analysis
IF Bancorp, Inc.
| Net Income | 1.79 M |
| Depreciation & Amortization | 671 K |
| Capital Expenditures | -247 K |
| Stock-Based Compensation | 563 K |
| Change in Working Capital | -283 K |
| Others | -861 K |
| Free Cash Flow | 2.04 M |
Wall Street Analysts Price Targets
IF Bancorp, Inc.
IROQ has no price targets from Wall Street.
4. DIVIDEND ANALYSIS
1.03%
DIVIDEND YIELD
0.2 USD
DIVIDEND PER SHARE
5. COMPETITION
6. Ownership
Insider Ownership
IF Bancorp, Inc.
Sold
0-3 MONTHS
0 USD 0
3-6 MONTHS
0 USD 0
6-9 MONTHS
0 USD 0
9-12 MONTHS
0 USD 0
Bought
11.6 K USD 1
0-3 MONTHS
0 USD 0
3-6 MONTHS
16.2 K USD 1
6-9 MONTHS
7.26 K USD 1
9-12 MONTHS
| Date | Value | Insider | Amount | Avg Price |
|---|---|---|---|---|
|
5 days ago
Nov 12, 2024
|
Bought 4.77 K USD
|
CHAMBERLAIN THOMAS J
SEVP and CLO |
+ 227
|
21 USD |
|
5 days ago
Nov 12, 2024
|
Bought 3.57 K USD
|
CHAMBERLAIN THOMAS J
SEVP and CLO |
+ 170
|
21 USD |
|
5 days ago
Nov 12, 2024
|
Bought 3.28 K USD
|
CHAMBERLAIN THOMAS J
SEVP and CLO |
+ 156
|
21 USD |
|
6 months ago
May 03, 2024
|
Bought 9.14 K USD
|
CHAMBERLAIN THOMAS J
SEVP and CLO |
+ 554
|
16.5 USD |
|
6 months ago
May 03, 2024
|
Bought 310 USD
|
CHAMBERLAIN THOMAS J
SEVP and CLO |
+ 19
|
16.3 USD |
|
6 months ago
May 03, 2024
|
Bought 2.36 K USD
|
CHAMBERLAIN THOMAS J
SEVP and CLO |
+ 143
|
16.5 USD |
|
6 months ago
May 03, 2024
|
Bought 1.03 K USD
|
CHAMBERLAIN THOMAS J
SEVP and CLO |
+ 63
|
16.35 USD |
|
6 months ago
May 03, 2024
|
Bought 3.35 K USD
|
CHAMBERLAIN THOMAS J
SEVP and CLO |
+ 203
|
16.5 USD |
|
1 year ago
Nov 14, 2023
|
Bought 274 USD
|
CHAMBERLAIN THOMAS J
SEVP and CLO |
+ 19
|
14.415 USD |
|
1 year ago
Nov 14, 2023
|
Bought 3.89 K USD
|
CHAMBERLAIN THOMAS J
SEVP and CLO |
+ 270
|
14.42 USD |
|
1 year ago
Nov 14, 2023
|
Bought 2.45 K USD
|
CHAMBERLAIN THOMAS J
SEVP and CLO |
+ 170
|
14.43 USD |
|
1 year ago
Nov 13, 2023
|
Bought 644 USD
|
CHAMBERLAIN THOMAS J
SEVP and CLO |
+ 45
|
14.3 USD |
|
1 year ago
Jun 12, 2023
|
Bought 981 USD
|
CHAMBERLAIN THOMAS J
SEVP and CLO |
+ 71
|
13.81 USD |
|
1 year ago
Jun 12, 2023
|
Bought 11.1 K USD
|
CHAMBERLAIN THOMAS J
SEVP and CLO |
+ 800
|
13.9 USD |
|
1 year ago
Jun 09, 2023
|
Bought 2.84 K USD
|
CHAMBERLAIN THOMAS J
SEVP and CLO |
+ 204
|
13.9 USD |
|
1 year ago
May 04, 2023
|
Bought 1.56 K USD
|
CHAMBERLAIN THOMAS J
SEVP and CLO |
+ 104
|
14.975 USD |
|
1 year ago
May 04, 2023
|
Bought 3 K USD
|
CHAMBERLAIN THOMAS J
SEVP and CLO |
+ 200
|
14.98 USD |
|
1 year ago
May 04, 2023
|
Bought 1.44 K USD
|
CHAMBERLAIN THOMAS J
SEVP and CLO |
+ 96
|
14.9998 USD |
|
1 year ago
May 04, 2023
|
Bought 3 K USD
|
CHAMBERLAIN THOMAS J
SEVP and CLO |
+ 200
|
15 USD |
|
1 year ago
May 04, 2023
|
Bought 3.01 K USD
|
CHAMBERLAIN THOMAS J
SEVP and CLO |
+ 200
|
15.05 USD |
|
1 year ago
May 04, 2023
|
Bought 3.02 K USD
|
CHAMBERLAIN THOMAS J
SEVP and CLO |
+ 200
|
15.1 USD |
|
1 year ago
May 04, 2023
|
Bought 4.54 K USD
|
CHAMBERLAIN THOMAS J
SEVP and CLO |
+ 300
|
15.15 USD |
|
1 year ago
May 04, 2023
|
Bought 3.04 K USD
|
CHAMBERLAIN THOMAS J
SEVP and CLO |
+ 200
|
15.2 USD |
|
1 year ago
May 03, 2023
|
Bought 2.95 K USD
|
CHAMBERLAIN THOMAS J
SEVP and CLO |
+ 194
|
15.19 USD |
|
1 year ago
May 03, 2023
|
Bought 1.52 K USD
|
CHAMBERLAIN THOMAS J
SEVP and CLO |
+ 100
|
15.25 USD |
|
1 year ago
May 03, 2023
|
Bought 1.96 K USD
|
CHAMBERLAIN THOMAS J
SEVP and CLO |
+ 128
|
15.3 USD |
|
1 year ago
May 03, 2023
|
Bought 3.07 K USD
|
CHAMBERLAIN THOMAS J
SEVP and CLO |
+ 200
|
15.35 USD |
|
1 year ago
May 03, 2023
|
Bought 3.08 K USD
|
CHAMBERLAIN THOMAS J
SEVP and CLO |
+ 200
|
15.3917 USD |
|
1 year ago
May 02, 2023
|
Bought 3.16 K USD
|
CHAMBERLAIN THOMAS J
SEVP and CLO |
+ 212
|
14.9 USD |
|
1 year ago
May 03, 2023
|
Bought 4.62 K USD
|
CHAMBERLAIN THOMAS J
SEVP and CLO |
+ 300
|
15.4 USD |
|
1 year ago
May 03, 2023
|
Bought 1.54 K USD
|
CHAMBERLAIN THOMAS J
SEVP and CLO |
+ 100
|
15.45 USD |
|
2 years ago
Nov 14, 2022
|
Bought 2.72 K USD
|
CHAMBERLAIN THOMAS J
SEVP and CLO |
+ 145
|
18.75 USD |
|
2 years ago
Nov 14, 2022
|
Bought 2.66 K USD
|
CHAMBERLAIN THOMAS J
SEVP and CLO |
+ 142
|
18.75 USD |
|
2 years ago
Dec 01, 2021
|
Bought 534 USD
|
CHAMBERLAIN THOMAS J
SEVP and CLO |
+ 23
|
23.2 USD |
|
2 years ago
Nov 30, 2021
|
Bought 2.2 K USD
|
CHAMBERLAIN THOMAS J
SEVP and CLO |
+ 95
|
23.2 USD |
|
2 years ago
Nov 30, 2021
|
Bought 2.3 K USD
|
CHAMBERLAIN THOMAS J
SEVP and CLO |
+ 100
|
22.99 USD |
|
3 years ago
May 04, 2021
|
Bought 4.54 K USD
|
CHAMBERLAIN THOMAS J
Executive Vice President |
+ 204
|
22.25 USD |
|
4 years ago
Sep 14, 2020
|
Bought 1.1 K USD
|
CHAMBERLAIN THOMAS J
Executive Vice President |
+ 70
|
15.66 USD |
|
4 years ago
Sep 11, 2020
|
Bought 15.8 K USD
|
CHAMBERLAIN THOMAS J
Executive Vice President |
+ 1000
|
15.85 USD |
|
4 years ago
May 04, 2020
|
Bought 2.24 K USD
|
CHAMBERLAIN THOMAS J
Executive Vice President |
+ 139
|
16.1 USD |
|
4 years ago
May 04, 2020
|
Bought 2.7 K USD
|
CHAMBERLAIN THOMAS J
Executive Vice President |
+ 168
|
16.1 USD |
|
5 years ago
Nov 06, 2019
|
Bought 538 USD
|
CHAMBERLAIN THOMAS J
Executive Vice President |
+ 25
|
21.5 USD |
|
5 years ago
Nov 05, 2019
|
Bought 1.61 K USD
|
CHAMBERLAIN THOMAS J
Executive Vice President |
+ 75
|
21.5 USD |
|
5 years ago
Nov 06, 2019
|
Bought 2.15 K USD
|
CHAMBERLAIN THOMAS J
Executive Vice President |
+ 100
|
21.5 USD |
|
6 years ago
Nov 05, 2018
|
Bought 1.86 K USD
|
CHAMBERLAIN THOMAS J
Executive Vice President |
+ 84
|
22.0893 USD |
|
6 years ago
Nov 05, 2018
|
Bought 2.31 K USD
|
CHAMBERLAIN THOMAS J
Executive Vice President |
+ 106
|
21.7649 USD |
|
6 years ago
May 21, 2018
|
Bought 1.47 K USD
|
CHAMBERLAIN THOMAS J
Executive Vice President |
+ 71
|
20.75 USD |
|
6 years ago
May 17, 2018
|
Bought 2.05 K USD
|
CHAMBERLAIN THOMAS J
Executive Vice President |
+ 100
|
20.5 USD |
|
7 years ago
Nov 14, 2017
|
Bought 3.9 K USD
|
WITTENBORN DENNIS C
Director |
+ 200
|
19.5 USD |
|
7 years ago
Nov 01, 2017
|
Bought 1.48 K USD
|
CHAMBERLAIN THOMAS J
Executive Vice President |
+ 76
|
19.5 USD |
|
7 years ago
Nov 01, 2017
|
Bought 2.14 K USD
|
CHAMBERLAIN THOMAS J
Executive Vice President |
+ 110
|
19.5 USD |
|
7 years ago
May 17, 2017
|
Bought 1.17 K USD
|
CHAMBERLAIN THOMAS J
Executive Vice President |
+ 59
|
19.9 USD |
|
7 years ago
May 19, 2017
|
Bought 1.12 K USD
|
CHAMBERLAIN THOMAS J
Executive Vice President |
+ 56
|
20 USD |
|
7 years ago
May 17, 2017
|
Bought 913 USD
|
CHAMBERLAIN THOMAS J
Executive Vice President |
+ 46
|
19.85 USD |
|
8 years ago
Nov 04, 2016
|
Bought 1.17 K USD
|
CHAMBERLAIN THOMAS J
Executive Vice President |
+ 63
|
18.6 USD |
|
8 years ago
Nov 04, 2016
|
Bought 1.92 K USD
|
CHAMBERLAIN THOMAS J
Executive Vice President |
+ 103
|
18.6 USD |
|
8 years ago
May 09, 2016
|
Bought 1.17 K USD
|
CHAMBERLAIN THOMAS J
Executive Vice President |
+ 63
|
18.5 USD |
|
8 years ago
May 09, 2016
|
Bought 10.4 K USD
|
CHAMBERLAIN THOMAS J
Executive Vice President |
+ 563
|
18.5 USD |
|
8 years ago
Dec 01, 2015
|
Bought 9.55 K USD
|
CHAMBERLAIN THOMAS J
Executive Vice President |
+ 544
|
17.55 USD |
|
9 years ago
May 15, 2015
|
Bought 712 USD
|
CHAMBERLAIN THOMAS J
Executive Vice President |
+ 43
|
16.55 USD |
|
9 years ago
May 19, 2015
|
Bought 418 USD
|
CHAMBERLAIN THOMAS J
Executive Vice President |
+ 25
|
16.7 USD |
|
9 years ago
May 15, 2015
|
Bought 6.64 K USD
|
CHAMBERLAIN THOMAS J
Executive Vice President |
+ 400
|
16.6 USD |
|
10 years ago
Nov 14, 2014
|
Bought 725 USD
|
CHAMBERLAIN THOMAS J
Executive Vice President |
+ 43
|
16.85 USD |
|
10 years ago
Nov 14, 2014
|
Bought 2.67 K USD
|
CHAMBERLAIN THOMAS J
Executive Vice President |
+ 158
|
16.9 USD |
|
10 years ago
May 22, 2014
|
Bought 713 USD
|
CHAMBERLAIN THOMAS J
Vice President |
+ 44
|
16.2 USD |
|
10 years ago
May 21, 2014
|
Bought 421 USD
|
CHAMBERLAIN THOMAS J
Vice President |
+ 26
|
16.2 USD |
|
10 years ago
May 21, 2014
|
Bought 713 USD
|
CHAMBERLAIN THOMAS J
Vice President |
+ 44
|
16.2 USD |
|
10 years ago
May 21, 2014
|
Bought 421 USD
|
CHAMBERLAIN THOMAS J
Vice President |
+ 26
|
16.2 USD |
|
11 years ago
Nov 19, 2013
|
Bought 710 USD
|
CHAMBERLAIN THOMAS J
Vice President |
+ 43
|
16.5 USD |
|
11 years ago
Nov 18, 2013
|
Bought 3.5 K USD
|
CHAMBERLAIN THOMAS J
Vice President |
+ 212
|
16.5 USD |
|
11 years ago
Sep 13, 2013
|
Bought 16.2 K USD
|
WITTENBORN DENNIS C
Director |
+ 1000
|
16.1544 USD |
|
11 years ago
Sep 13, 2013
|
Bought 32.1 K USD
|
ACREE TERRY W
Vice President |
+ 2000
|
16.04 USD |
|
11 years ago
Sep 13, 2013
|
Bought 32.1 K USD
|
ACREE TERRY W
Vice President |
+ 2000
|
16.04 USD |
|
11 years ago
Sep 13, 2013
|
Bought 16.2 K USD
|
WITTENBORN DENNIS C
Director |
+ 1000
|
16.1544 USD |
|
11 years ago
May 24, 2013
|
Bought 28.5 K USD
|
CHAMBERLAIN THOMAS J
Vice President |
+ 1855
|
15.35 USD |
|
11 years ago
Dec 03, 2012
|
Bought 8.86 K USD
|
CHAMBERLAIN THOMAS J
Vice President |
+ 644
|
13.75 USD |
|
11 years ago
Nov 28, 2012
|
Bought 5.78 K USD
|
CHAMBERLAIN THOMAS J
Vice President |
+ 420
|
13.75 USD |
|
12 years ago
May 16, 2012
|
Bought 12.5 K USD
|
CHAMBERLAIN THOMAS J
Vice President |
+ 945
|
13.25 USD |
|
12 years ago
Mar 14, 2012
|
Bought 1.78 K USD
|
CHAMBERLAIN THOMAS J
Vice President |
+ 150
|
11.85 USD |
|
13 years ago
Nov 18, 2011
|
Bought 1.2 K USD
|
CHAMBERLAIN THOMAS J
Vice President |
+ 106
|
11.3 USD |
|
13 years ago
Jul 21, 2011
|
Bought 47 K USD
|
CHAMBERLAIN THOMAS J
Vice President |
+ 4042
|
11.6263 USD |
|
13 years ago
Jul 15, 2011
|
Bought 11.5 K USD
|
CHAMBERLAIN THOMAS J
Vice President |
+ 1000
|
11.5 USD |
|
13 years ago
Jul 07, 2011
|
Bought 150 K USD
|
YERGLER RODNEY E
Director |
+ 15000
|
10 USD |
|
13 years ago
Jul 07, 2011
|
Bought 100 K USD
|
YERGLER RODNEY E
Director |
+ 10000
|
10 USD |
|
13 years ago
Jul 07, 2011
|
Bought 294 K USD
|
WITTENBORN DENNIS C
Director |
+ 29400
|
10 USD |
|
13 years ago
Jul 07, 2011
|
Bought 178 K USD
|
WITTENBORN DENNIS C
Director |
+ 17750
|
10 USD |
|
13 years ago
Jul 07, 2011
|
Bought 12.6 K USD
|
WITTENBORN DENNIS C
Director |
+ 1261
|
10 USD |
|
13 years ago
Jul 07, 2011
|
Bought 125 K USD
|
VERKLER PAMELA J
VP, CFO and Treasurer |
+ 12500
|
10 USD |
|
13 years ago
Jul 07, 2011
|
Bought 200 K USD
|
SIMUTIS FRANK J
Director |
+ 20000
|
10 USD |
|
13 years ago
Jul 07, 2011
|
Bought 200 K USD
|
MARTIN GARY
Director |
+ 20000
|
10 USD |
|
13 years ago
Jul 07, 2011
|
Bought 50 K USD
|
MARTIN GARY
Director |
+ 5000
|
10 USD |
|
13 years ago
Jul 07, 2011
|
Bought 100 K USD
|
MARTIN ALAN D
President and CEO |
+ 10000
|
10 USD |
|
13 years ago
Jul 07, 2011
|
Bought 30 K USD
|
MARTIN ALAN D
President and CEO |
+ 3000
|
10 USD |
|
13 years ago
Jul 07, 2011
|
Bought 20 K USD
|
MARTIN ALAN D
President and CEO |
+ 2000
|
10 USD |
|
13 years ago
Jul 07, 2011
|
Bought 40 K USD
|
LEHMANN WAYNE A
Director |
+ 4000
|
10 USD |
|
13 years ago
Jul 07, 2011
|
Bought 45 K USD
|
HEUTON ARDITH
Director |
+ 4500
|
10 USD |
|
13 years ago
Jul 07, 2011
|
Bought 30 K USD
|
HEUTON ARDITH
Director |
+ 3000
|
10 USD |
|
13 years ago
Jul 07, 2011
|
Bought 137 K USD
|
HASSELBRING WALTER H III
Vice President and COO |
+ 13700
|
10 USD |
|
13 years ago
Jul 07, 2011
|
Bought 15 K USD
|
HASSELBRING WALTER H III
Vice President and COO |
+ 1500
|
10 USD |
|
13 years ago
Jul 07, 2011
|
Bought 5 K USD
|
HASSELBRING WALTER H III
Vice President and COO |
+ 500
|
10 USD |
|
13 years ago
Jul 07, 2011
|
Bought 200 K USD
|
COWAN JOSEPH A
Director |
+ 20000
|
10 USD |
|
13 years ago
Jul 07, 2011
|
Bought 93.8 K USD
|
CHAMBERLAIN THOMAS J
Vice President |
+ 9382
|
10 USD |
|
13 years ago
Jul 07, 2011
|
Bought 50 K USD
|
CHAMBERLAIN THOMAS J
Vice President |
+ 5000
|
10 USD |
|
13 years ago
Jul 07, 2011
|
Bought 3.94 K USD
|
CHAMBERLAIN THOMAS J
Vice President |
+ 394
|
10 USD |
|
13 years ago
Jul 07, 2011
|
Bought 70 K USD
|
ACREE TERRY W
Vice President |
+ 7000
|
10 USD |
7. News
Stilwell Will Vote in Favor of Proposal to Sell IF Bancorp - UPDATE
NEW YORK, Oct. 21, 2024 (GLOBE NEWSWIRE) -- Stilwell Activist Investments, L.P. (together with its affiliates, “Stilwell”), one of the largest stockholders of IF Bancorp, Inc. (“IROQ” or the “Company”) (NASDAQ: IROQ), today issued the following statement in connection with the Company's upcoming annual meeting of stockholders scheduled to be held on November 25, 2024 (the “Annual Meeting”), at which stockholders will vote on a number of matters, including Stilwell's non-binding proposal requesting a sale of the Company (the “Proposal”), submitted pursuant to Rule 14a-8 of the Securities Exchange Act of 1934, as amended:
globenewswire.com
- 3 weeks ago
Stilwell Will Vote in Favor of Proposal to Sell IF Bancorp
NEW YORK, Oct. 21, 2024 (GLOBE NEWSWIRE) -- Stilwell Activist Investments, L.P. (together with its affiliates, “Stilwell”), one of the largest stockholders of IF Bancorp, Inc. (“IROQ” or the “Company”) (NASDAQ: IROQ), today issued the following statement in connection with the Company's upcoming annual meeting of stockholders scheduled to be held on November 25, 2024 (the “Annual Meeting”), at which stockholders will vote on a number of matters, including Stilwell's non-binding proposal requesting a sale of the Company (the “Proposal”), submitted pursuant to Rule 14a-8 of the Securities Exchange Act of 1934, as amended:
globenewswire.com
- 3 weeks ago
IF Bancorp, Inc. Announces Results for Third Quarter of Fiscal Year 2024
WATSEKA, Ill.--(BUSINESS WIRE)--IF Bancorp, Inc. (NASDAQ: IROQ) (the “Company”) the holding company for Iroquois Federal Savings and Loan Association (the “Association”), announced unaudited net income of $708,000, or $0.22 per basic and diluted share, for the three months ended March 31, 2024, compared to net income of $690,000, or $0.22 per basic share and $0.21 per diluted share, for the three months ended March 31, 2023. “The uncertain interest rate environment continues to be a challenge f.
businesswire.com
- 6 months ago
IF Bancorp, Inc. Announces Cash Dividend
WATSEKA, Ill.--(BUSINESS WIRE)--IF Bancorp, Inc. (NASDAQ Capital: IROQ) (the “Company”), the holding company for Iroquois Federal Savings and Loan Association, today announced that its Board of Directors declared a cash dividend of $0.20 per common share. The dividend will be paid on April 15, 2024, to stockholders of record as of the close of business on March 22, 2024. “We are pleased to continue paying a cash dividend to our stockholders,” said Walter H. Hasselbring, III, President and Chief.
businesswire.com
- 9 months ago
IF Bancorp, Inc. Announces Results for Second Quarter of Fiscal Year 2024
WATSEKA, Ill.--(BUSINESS WIRE)--IF BANCORP, INC. ANNOUNCES RESULTS FOR QUARTER ENDING 12-31-23.
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IF Bancorp, Inc. Announces Results for First Quarter of Fiscal Year 2024 (Unaudited)
WATSEKA, Ill.--(BUSINESS WIRE)--IF BANCORP, INC. ANNOUNCES RESULTS FOR QUARTER ENDING 9-30-23.
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IF Bancorp, Inc. Announces Results for Fourth Quarter and Fiscal Year Ended June 30, 2023
WATSEKA, Ill.--(BUSINESS WIRE)--IF Bancorp, Inc. (NASDAQ: IROQ) (the “Company”) the holding company for Iroquois Federal Savings and Loan Association (the “Association”), announced net income of $4.7 million, or $1.50 per basic share and $1.46 per diluted share for the fiscal year ended June 30, 2023, compared to $5.8 million, or $1.88 per basic share and $1.84 per diluted share for the fiscal year ended June 30, 2022. The Company also announced net income of $597,000, or $0.19 per basic share.
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- 1 year ago
IF Bancorp, Inc. Announces Cash Dividend
WATSEKA, Ill.--(BUSINESS WIRE)--IF Bancorp, Inc. announces cash dividend.
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IF Bancorp, Inc. Announces Results for Fourth Quarter and Fiscal Year Ended June 30, 2021
WATSEKA, Ill.--(BUSINESS WIRE)--IF Bancorp, Inc. (NASDAQ: IROQ) (the “Company”) the holding company for Iroquois Federal Savings and Loan Association (the “Association”), announced net income of $5.3 million, or $1.76 per basic share and $1.74 per diluted share for the fiscal year ended June 30, 2021, compared to $4.2 million, or $1.37 per basic share and $1.35 per diluted share for the fiscal year ended June 30, 2020. The Company also announced net income of $993,000, or $0.33 per basic share and $0.32 per diluted share for the three months ended June 30, 2021, compared to $1.4 million, or $0.45 per basic share and diluted share for the three months ended June 30, 2020. Net income increased $1.1 million, or 26.0%, to $5.3 million for the year ended June 30, 2021, from $4.2 million for the year ended June 30, 2020. As of June 30, 2021, the COVID-19 pandemic has not had a significant negative impact on our financial condition and results of operations. While the general element of our allowance for loan losses increased in our prior fiscal year due to COVID-related changes in the economic forecast, the majority of our provisions for loan losses in the year ended June 30, 2021, were due to loan growth, a change in loan portfolio mix, and to a lesser extent, additional reserves for all loans that remain under temporary COVID-19 modifications. For the year ended June 30, 2021, net interest income was $20.2 million, compared to $18.3 million for the year ended June 30, 2020. Interest income decreased to $24.4 million for the year ended June 30, 2021, from $27.0 million for the year ended June 30, 2020. Interest expense decreased to $4.2 million for the year ended June 30, 2021, from $8.7 million for the year ended June 30, 2020. Our interest income could be reduced in the future due to COVID-19. In keeping with guidance from regulators, we are executing payment deferrals for our lending clients that are adversely affected by the pandemic. A total of 139 loans with current balances of $72.1 million have received COVID-19 modifications. These modifications allowed borrowers to defer the principal component of loan payments for up to six months, and in certain circumstances additional modifications were allowed. As of June 30, 2021, 132 of these loans totaling $66.1 million have returned to principal and interest payments, leaving 7 loans for $6.0 million still under temporary modifications. Non-interest income increased to $6.3 million for the year ended June 30, 2021, from $4.8 million for the year ended June 30, 2020. Our fee income could be reduced due to the effects of COVID-19. We are working with COVID-19 affected customers by temporarily waiving fees when appropriate, including insufficient funds and overdraft fees, and ATM fees. At this time, we do not anticipate that decreases in our fee income will have a material impact on our net income. Non-interest expense increased to $18.2 million for the year ended June 30, 2021, from $17.1 million for the year ended June 30, 2020. For the year ended June 30, 2021, income tax expense totaled $2.0 million compared to $1.6 million for the year ended June 30, 2020. Total assets at June 30, 2021 were $797.3 million compared to $735.5 million at June 30, 2020. Cash and cash equivalents increased to $62.7 million at June 30, 2021, from $33.5 million at June 30, 2020. This increase was primarily due to an increase in deposits from public entities. One public entity collects real estate taxes in two installments, due in June and September, and then makes distributions from the account in early July and September. Amounts received prior to June 30, and subsequently distributed the first week of July were $55.6 million and $45.3 million in 2021 and 2020, respectively. Investment securities increased to $189.9 million at June 30, 2021, from $162.4 million at June 30, 2020. Net loans receivable increased to $513.4 million at June 30, 2021, from $509.8 million at June 30, 2020. While we closed 666 loans for a total of $44.8 million through the Paycheck Protection Program (“PPP”), after SBA forgiveness to date, we have 364 loans totaling $20.6 million remaining in our portfolio as of June 30, 2021. Deposits increased to $667.6 million at June 30, 2021, from $601.7 million at June 30, 2020. Total borrowings, including repurchase agreements, decreased to $34.2 million at June 30, 2021 from $41.2 million at June 30, 2020. Stockholders’ equity increased to $85.3 million at June 30, 2021 from $82.6 million at June 30, 2020. The allowance for loan losses increased $365,000 to $6.6 million at June 30, 2021, from $6.2 million at June 30, 2020. The increase was the result of a provision for loan losses of $844,000, partially offset by net charge-offs of $479,000. As announced on August 11, 2021, IF Bancorp, Inc. will pay a cash dividend of $0.175 per common share on or about October 15, 2021, to stockholders of record as of the close of business on September 24, 2021. IF Bancorp, Inc. is the savings and loan holding company for Iroquois Federal Savings and Loan Association (the “Association”). The Association, originally chartered in 1883 and headquartered in Watseka, Illinois, conducts its operations from seven full-service banking offices located in Watseka, Danville, Clifton, Hoopeston, Savoy, Bourbonnais, and Champaign, Illinois and a loan production and wealth management office in Osage Beach, Missouri. The principal activity of the Association’s wholly-owned subsidiary, L.C.I. Service Corporation, is the sale of property and casualty insurance. Cautionary Note Regarding Forward-Looking Statements This press release may contain statements relating to the future results of the Company (including certain projections and business trends) that are considered "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995 (the “PSLRA”). Such forward-looking statements may be identified by the use of such words as "believe," "expect," "anticipate," "should," "planned," "estimated," "intend" and "potential." These forward-looking statements include, but are not limited to: statements of our goals, intentions and expectations; statements regarding our business plans, prospects, growth and operating strategies; statements regarding the asset quality of our loan and investment portfolios; and estimates of our risks and future costs and benefits. The Company cautions you that a number of important factors could cause actual results to differ materially from those currently anticipated in any forward-looking statement. Such factors include, but are not limited to: prevailing economic and geopolitical conditions; changes in interest rates, loan demand, real estate values and competition; changes in accounting principles, policies, and guidelines; changes in any applicable law, rule, regulation or practice with respect to tax or legal issues; and other economic, competitive, governmental, regulatory and technological factors affecting the Company's operations, pricing, products and services and other factors (“Risk Factors”) that may be described in the Company’s annual report on Form 10-K and quarterly reports on Form 10-Q as filed with the Securities and Exchange Commission. Given the ongoing and dynamic nature of the circumstances, it is difficult to predict the full impact of the COVID-19 outbreak on our business. The extent of such impact will depend on future developments, which are highly uncertain, including when the coronavirus can be controlled and abated and when and how the economy may be reopened. As the result of the COVID-19 pandemic and the related adverse local and national economic consequences, we could be subject to any of the following risks, any of which could have a material, adverse effect on our business, financial condition, liquidity, and results of operations: demand for our products and services may be negatively impacted as a result of the COVID-19 pandemic; the COVID-19 pandemic may continue to have a negative impact on the economy and overall financial stability of us, the communities where we have our branches, the state of Illinois and the United States, and may also exacerbate the effects of the other Risk Factors; if the economy is unable to fully reopen, and increased levels of unemployment continue for an extended period of time, loan delinquencies, problem assets, and foreclosures may increase; limitations may be placed on our ability to foreclose on properties during the pandemic; we have continued to accrue interest and fees on loans to customers that have been negatively impacted by COVID-19 and who have been permitted to defer payments in accordance with regulatory guidance. Should eventual credit losses on these loans with deferred payments emerge, interest income and fees accrued would need to be reversed; litigation, regulatory enforcement risk and reputation risk regarding our participation in the PPP and the risk that the SBA may not fund some or all PPP loan guaranties; collateral for loans, especially real estate, may decline in value; our allowance for loan losses may have to be increased if borrowers experience financial difficulties; the net worth and liquidity of loan guarantors may decline; as the result of the decline in the Federal Reserve Board’s target federal funds rate to near 0%, the yield on our assets may decline to a greater extent than the decline in our cost of interest-bearing liabilities; a material decrease in net income or a net loss over several quarters could result in a decrease in the rate of our semi-annual cash dividend; actions taken by the federal, state or local governments to cushion the impact of COVID-19 on consumers and businesses may have a negative impact on us and our business; changes in accounting policies and practices, as may be adopted by the bank regulatory agencies, the Financial Accounting Standards Board, the Securities and Exchange Commission and the Public Company Accounting Oversight Board; our wealth management revenues may decline with continuing market turmoil; the unanticipated loss or unavailability of key employees due to the outbreak, which could harm our ability to operate our business or execute our business strategy, especially as we may not be successful in finding and integrating suitable successors; we rely on third party vendors for certain services and the unavailability of a critical service due to the COVID-19 outbreak could have an adverse effect on us; our cyber security risks are increased by the COVID-19 pandemic as the result of an increase in the number of employees working remotely; and FDIC premiums may increase if the agency experience additional resolution costs. The forward-looking statements are made as of the date of this release, and, except as may be required by applicable law or regulation, the Company assumes no obligation to update the forward-looking statements or to update the reasons why actual results could differ from those projected in the forward-looking statements. Selected Income Statement Data (Dollars in thousands, except per share data) Quarter Ended June 30, 2021 Quarter Ended June 30, 2020 Year Ended June 30, 2021 Year Ended June 30, 2020 (unaudited) (unaudited) (unaudited) Interest income $ 5,928 $ 6,386 $ 24,357 $ 26,982 Interest expense 711 1,615 4,178 8,694 Net interest income 5,217 4,771 20,179 18,288 Provision for loan losses 679 (70 ) 844 128 Net interest income after provision for loan losses 4,538 4,841 19,335 18,160 Non-interest income 1,397 1,349 6,258 4,810 Non-interest expense 4,591 4,283 18,212 17,086 Income before taxes 1,344 1,907 7,381 5,884 Income tax expense 351 536 2,034 1,639 Net income $ 993 $ 1,371 $ 5,347 $ 4,245 Earnings per share (1): Basic $ 0.33 $ 0.45 $ 1.76 $ 1.37 Diluted $ 0.32 $ 0.45 $ 1.74 $ 1.35 Weighted average shares outstanding (1): Basic 3,045,520 3,026,275 3,038,303 3,103,339 Diluted 3,103,955 3,036,033 3,078,867 3,148,032 Performance Ratios Year Ended June 30, 2021 Year Ended June 30, 2020 (unaudited) Return on average assets 0.72 % 0.61 % Return on average equity 6.34 % 5.30 % Net interest margin on average interest earning assets 2.86 % 2.75 % ________________________ Footnotes on following page Selected Balance Sheet Data (Dollars in thousands, except per share data) Year Ended June 30, 2021 Year Ended June 30, 2020 (unaudited) Assets $ 797,341 $ 735,517 Cash and cash equivalents 62,735 33,467 Investment securities 189,891 162,394 Net loans receivable 513,371 509,817 Deposits 667,632 601,700 Total borrowings, including repurchase agreements 34,245 41,238 Total stockholders’ equity 85,304 82,564 Book value per share (2) 26.33 25.48 Average stockholders’ equity to average total assets 11.40 % 11.55 % Asset Quality (Dollars in thousands) Year Ended June 30, 2021 Year Ended June 30, 2020 (unaudited) Non-performing assets (3) $ 411 $ 1,095 Allowance for loan losses 6,599 6,234 Non-performing assets to total assets 0.05 % 0.15 % Allowance for losses to total loans 1.27 % 1.21 % Allowance for losses to total loans excluding PPP loans (4) 1.32 % 1.27 % (1) Shares outstanding do not include ESOP shares not committed for release. (2) Total stockholders’ equity divided by shares outstanding of 3,240,376 at both June 30, 2021 and 2020, respectively. (3) Non-performing assets include non-accrual loans, loans past due 90 days or more and accruing, and foreclosed assets held for sale. (4) Paycheck Protection Program (PPP) loans are administered by the SBA and are fully guaranteed by the U.S. government.
businesswire.com
- 3 years ago
8. Profile Summary
IF Bancorp, Inc. IROQ
COUNTRY
US
INDUSTRY
Banks - Regional
MARKET CAP
$ 66.6 M
Dividend Yield
1.03%
Description
IF Bancorp, Inc. operates as the savings and loan holding company for Iroquois Federal Savings and Loan Association that provides a range of banking and financial services to individual and corporate clients. The company offers various deposit accounts, including savings accounts, certificates of deposit, money market accounts, commercial and personal checking accounts, individual retirement accounts, and health savings accounts. It also provides loans comprising one- to four-family residential mortgage loans; multi-family mortgage loans; commercial real estate loans, such as farm loans; home equity lines of credit; commercial business loans; and consumer loans primarily consisting of automobile loans, as well as construction loans and land development loans. In addition, the company sells property and casualty insurance, as well as offers annuities; mutual funds; individual and group retirement plans; life, disability, and health insurance; individual securities; managed accounts; and other financial services. Further, it invests in securities; and provides ATM, online banking and bill pay, mobile banking, ACH origination, remote deposit capture, and telephone banking services. As of August 31, 2021, it operated a network of seven full-service banking offices located in Watseka, Danville, Clifton, Hoopeston, Savoy, Bourbonnais, and Champaign, Illinois; and a loan production and wealth management office in Osage Beach, Missouri. IF Bancorp, Inc. was founded in 1883 and is headquartered in Watseka, Illinois.
Contact
201 East Cherry Street, Watseka, IL, 60970-0190
https://iroquoisfed.com
IPO Date
July 8, 2011
Employees
109
Officers
Mr. Thomas J. Chamberlain
Senior Executive Vice President
Mr. Walter H. Hasselbring III
President, Chief Executive Officer & Director
Ms. Pamela J. Verkler
Senior EVice President, Chief Financial Officer, Treasurer & Director
Ms. Linda L. Hamilton
Executive Vice President & Chief Operating Officer