Financial Performance - Net interest income increased to $12.2 million for the six months ended December 31, 2025, compared to $9.8 million for the same period in 2024, representing a 24.5% increase[158] - Net income increased by $868,000, or 45.7%, to $2.7 million for the six months ended December 31, 2025, compared to $1.9 million for the same period in 2024[178] - Noninterest income decreased by $163,000, or 6.1%, to $2.5 million for the six months ended December 31, 2025, primarily due to lower net realized gains on securities[187] - Noninterest income increased by $103,000, or 8.2%, to $1.4 million for the three months ended December 31, 2025, driven by gains on loan sales and customer service fees[197] - Net interest margin increased by 66 basis points to 2.98% for the six months ended December 31, 2025, compared to 2.32% for the same period in 2024[179] - Net interest margin for Q4 2025 improved to 2.99% from 2.37% in Q4 2024, indicating better efficiency in generating income from interest-earning assets[226] Asset and Loan Management - Total assets decreased by $57.3 million, or 6.5%, to $830.4 million at December 31, 2025, from $887.7 million at June 30, 2025[169] - Net loans receivable decreased by $41.3 million, or 6.5%, to $592.3 million at December 31, 2025, primarily due to a 14.5% decrease in multi-family loans[170] - Average loans for Q4 2025 were $601,355 thousand with an interest income of $9,026 thousand, yielding 6.00%, compared to $651,697 thousand and $9,564 thousand at 5.87% in Q4 2024[225] - Total interest-earning assets for Q4 2025 were $799,334 thousand, generating interest income of $10,535 thousand, resulting in a yield of 5.27%, slightly up from $845,655 thousand and $11,010 thousand at 5.21% in Q4 2024[225] Credit Quality - Non-performing loans totaled $2.0 million, or 0.3% of total loans, at December 31, 2025, compared to $46,000, or 0.1% of total loans, at June 30, 2025[159] - The allowance for credit losses was $6.5 million, or 1.09% of total loans, at December 31, 2025, down from $7.3 million, or 1.12% of total loans, at December 31, 2024[185] - The provision for credit losses was recorded at $28,000 for the six months ended December 31, 2025, compared to a credit of $68,000 for the same period in 2024[185] - As of December 31, 2025, non-accrual loans totaled $2.0 million, with no loans delinquent for 90 days or more[201] Expenses and Liabilities - Interest expense decreased by $2.6 million, or 21.6%, to $9.5 million for the six months ended December 31, 2025, due to a reduction in interest on deposits and borrowings[182] - Noninterest expense increased by $900,000, or 9.0%, to $10.9 million for the six months ended December 31, 2025, with significant increases in professional services and compensation[187] - Noninterest expense rose by $433,000, or 8.6%, to $5.5 million for the same period, primarily due to a significant increase in professional services costs, which surged by $510,000, or 312.9%[198] Capital and Liquidity - Total equity increased by $5.5 million, or 6.8%, to $87.4 million at December 31, 2025, driven by a net income of $2.7 million[177] - The company was categorized as "well capitalized" under regulatory capital requirements at December 31, 2025[160] - The liquidity ratio averaged 25.1% of total assets for the three months ended December 31, 2025, indicating sufficient liquidity to meet obligations[210] - Cash and cash equivalents totaled $8.8 million at December 31, 2025, with interest-earning time deposits at $250,000[212] - The Community Bank Leverage Ratio was 10.9% as of December 31, 2025, exceeding the minimum requirement of 9.0%[223] - The company anticipates sufficient funds to meet current commitments, with commitments to fund loans at $2.7 million as of December 31, 2025[215]

Core Viewpoint - IF Bancorp, Inc. has received shareholder approval for its merger with ServBanc Holdco, Inc., with the expected closing date set for March 12, 2026, pending customary closing conditions [1] Company Summary - IF Bancorp, Inc. is the holding company for Iroquois Federal Savings and Loan Association [1] - The merger with ServBanc Holdco, Inc. is a significant strategic move for IF Bancorp, aimed at enhancing its market position [1] Industry Summary - The merger reflects ongoing consolidation trends within the banking and financial services industry, as companies seek to achieve greater efficiencies and competitive advantages [1]

Financial Performance - For the three months ended December 31, 2025, net income was $1.3 million, or $0.41 per share, compared to $1.2 million, or $0.38 per share for the same period in 2024, representing a 8.3% increase in net income year-over-year [2] - Net interest income for the three months ended December 31, 2025, was $6.0 million, up from $5.0 million in the same period of 2024, reflecting a 20% increase [3] - Noninterest income increased to $1.4 million for the three months ended December 31, 2025, compared to $1.3 million for the same period in 2024, a growth of 7.7% [3] - Noninterest expense rose to $5.5 million for the three months ended December 31, 2025, from $5.0 million in the same period of 2024, primarily due to increased professional services related to the merger [3] - The return on average assets improved to 0.64% for the six months ended December 31, 2025, compared to 0.49% for the year ended June 30, 2025 [11] Asset and Deposit Changes - Total assets decreased to $830.4 million at December 31, 2025, down from $887.7 million at June 30, 2025, a decline of approximately 6.4% [5] - Deposits decreased to $649.6 million at December 31, 2025, from $721.3 million at June 30, 2025, a reduction of about 9.9% due to the withdrawal of $59.3 million in deposits from a public entity [5] Credit Quality - The provision for credit losses was $34,000 for the three months ended December 31, 2025, compared to a credit of $450,000 for the same period in 2024, indicating a significant improvement in asset quality [3] Merger Announcement - The company announced a pending merger with ServBanc Holdco, Inc., valued at approximately $89.8 million, expected to close in the first quarter of 2026 [6] Stockholders' Equity - Stockholders' equity increased to $87.4 million at December 31, 2025, from $81.8 million at June 30, 2025, an increase of approximately 6.9% [5]

Core Viewpoint - IF Bancorp, Inc. reported an increase in net income for the quarter and six months ended December 31, 2025, driven by higher net interest income and a pending merger with ServBanc Holdco, Inc. [1][3][5] Financial Performance - For the three months ended December 31, 2025, net income was $1.3 million, or $0.41 per share, compared to $1.2 million, or $0.38 per share, for the same period in 2024 [1] - For the six months ended December 31, 2025, net income was $2.7 million, or $0.84 per share, compared to $1.9 million, or $0.57 per share, for the same period in 2024 [3] - Net interest income increased to $6.0 million for the three months ended December 31, 2025, from $5.0 million in 2024, and to $12.2 million for the six months ended December 31, 2025, from $9.8 million in 2024 [2][3] - Interest income decreased to $10.5 million for the three months ended December 31, 2025, from $11.0 million in 2024, and to $21.6 million for the six months ended December 31, 2025, from $21.9 million in 2024 [2][3] - Noninterest income increased to $1.4 million for the three months ended December 31, 2025, from $1.3 million in 2024, but decreased to $2.5 million for the six months ended December 31, 2025, from $2.7 million in 2024 [2][3] Balance Sheet Highlights - Total assets decreased to $830.4 million at December 31, 2025, from $887.7 million at June 30, 2025 [4] - Cash and cash equivalents decreased to $8.8 million at December 31, 2025, from $20.1 million at June 30, 2025 [4] - Net loans receivable decreased to $592.3 million at December 31, 2025, from $633.6 million at June 30, 2025 [4] - Deposits decreased significantly to $649.6 million at December 31, 2025, from $721.3 million at June 30, 2025, primarily due to a withdrawal of $59.3 million from a public entity [4] - Stockholders' equity increased to $87.4 million at December 31, 2025, from $81.8 million at June 30, 2025, attributed to net income and other comprehensive income [4] Merger Activity - The company announced a merger agreement with ServBanc Holdco, Inc., valued at approximately $89.8 million, expected to close in the first quarter of 2026, pending shareholder approval [5][6]

Financial Performance - Net interest income increased to $6.2 million for the three months ended September 30, 2025, up from $4.8 million for the same period in 2024[149] - Net income for the three months ended September 30, 2025, was $1.4 million, compared to $633,000 for the same period in 2024, driven by increased net interest income and decreased provision for credit losses[151] - Net income increased by $759,000, or 119.9%, to $1.4 million for the three months ended September 30, 2025, compared to $633,000 for the same period in 2024[171] - Noninterest income decreased by $266,000, or 18.9%, to $1.1 million for the three months ended September 30, 2025, from $1.4 million in the prior year[179] - Noninterest expense increased by $467,000, or 9.3%, to $5.5 million for the three months ended September 30, 2025, from $5.0 million for the same period in 2024[180] Asset and Loan Management - Total assets decreased by $25.3 million, or 2.9%, to $862.3 million at September 30, 2025, primarily due to a $14.3 million decrease in net loans[161] - Net loans receivable decreased by $14.3 million, or 2.3%, to $619.3 million at September 30, 2025, with significant declines in multi-family loans and commercial real estate loans[162] - Total interest-earning assets decreased by $1,132 million compared to the previous year, with a net increase of $1,311 million in volume[209] - Commitments to fund loans decreased to $6.6 million as of September 30, 2025, from $7.6 million in June 2025[195] Deposits and Borrowings - Deposits decreased by $41.0 million, or 5.7%, to $680.3 million at September 30, 2025, largely due to a withdrawal of approximately $59.3 million from a public entity[167] - Borrowings from the Federal Home Loan Bank of Chicago increased by $15.0 million to $69.1 million at September 30, 2025[167] - The company had $69.1 million in borrowings from FHLB advances as of September 30, 2025, with additional borrowing capacity of $52.1 million[196] Credit Quality - Non-performing loans totaled $1.0 million, or 0.2% of total loans at September 30, 2025, compared to $46,000, or less than 0.1% at June 30, 2025[150] - The allowance for credit losses on loans was $6.5 million, or 1.04% of total loans, at September 30, 2025, compared to $7.5 million, or 1.14% at the same date in 2024[178] - The provision for credit losses recorded a credit of $42,000 for the three months ended September 30, 2025, compared to a provision of $382,000 for the same period in 2024[177] - Total non-performing loans to total loans was 0.16% at September 30, 2025, compared to 0.01% at June 30, 2025[179] - The level of nonperforming assets may fluctuate due to growth in the loan portfolio and changes in market conditions[189] Interest Rates and Margins - The net interest rate spread was 2.64% for the three months ended September 30, 2025, compared to 1.93% for the same period in 2024[149] - The average yield on loans increased by 19 basis points, or 3.2%, to 6.02% for the three months ended September 30, 2025, from 5.83% for the same period in 2024[173] - Total interest-bearing liabilities decreased by $262 million, with a significant drop in certificates of deposit by $470 million[209] - Interest-bearing deposits saw a total decrease of $683 million, primarily driven by a decline in money market accounts by $186 million[209] - The company performed an internal interest rate risk analysis, with no material changes in interest rate risk as of September 30, 2025, compared to the previous fiscal year[210] Equity and Capitalization - Total equity increased by $2.7 million, or 3.3%, to $84.5 million at September 30, 2025, from $81.8 million at June 30, 2025[169] - The Association was categorized as "well capitalized" under federal regulations as of September 30, 2025[151] - The Community Bank Leverage Ratio was 10.2% as of September 30, 2025, exceeding the minimum requirement of 9.0%[203] Liquidity - As of September 30, 2025, the liquidity ratio averaged 25.0% of total assets, indicating strong liquidity management[190] - Cash and cash equivalents totaled $8.0 million, with interest-earning time deposits at $250,000 as of September 30, 2025[192] - Net cash provided by investing activities was $15.4 million for the three months ended September 30, 2025, compared to $(4.0) million in the same period of 2024[193] Investment Securities - Investment securities increased by $2.1 million, or 1.1%, to $189.8 million at September 30, 2025[164] - Total interest-earning assets amounted to $833.1 million, with a net interest margin of 2.97% for the three months ended September 30, 2025[206]

Core Points - Class Action Attorney Juan Monteverde's firm, Monteverde & Associates PC, is recognized as a Top 50 Firm in the 2024 ISS Securities Class Action Services Report and has recovered millions for shareholders [1] - The firm is investigating IF Bancorp, Inc. regarding its proposed sale to ServBanc Holdco, Inc., where IF Bancorp shareholders are set to receive $27.20 in cash per share [1] Company Information - Monteverde & Associates PC is headquartered in the Empire State Building, New York City, and specializes in class action securities litigation with a successful track record [2] - The firm has a history of recovering money for shareholders through litigation in trial and appellate courts, including the U.S. Supreme Court [2] Contact Information - Shareholders with concerns or seeking additional information can contact Juan Monteverde via email or telephone [3]

Financial Performance - For the three months ended September 30, 2025, net income was $1.4 million, or $0.43 per share, compared to $633,000, or $0.20 per share for the same period in 2024, representing a 120% increase in net income year-over-year [2][9]. - Net interest income increased to $6.2 million for the three months ended September 30, 2025, up from $4.8 million in the same period of 2024, reflecting a 29% growth [4][9]. - Interest income rose to $11.1 million for the three months ended September 30, 2025, compared to $10.9 million for the same period in 2024, while interest expense decreased to $4.9 million from $6.1 million, resulting in a net interest margin of 2.97% [4][10]. - The provision for credit losses recorded a credit of $42,000 in the three months ended September 30, 2025, compared to a provision of $382,000 in the same period of 2024, indicating improved asset quality [4][12]. - The company expects continued improvement in financial performance, driven by the repricing of the loan portfolio and funding mix in the current interest rate environment [3]. Asset and Equity Changes - Total assets decreased to $862.3 million at September 30, 2025, from $887.7 million at June 30, 2025, primarily due to a significant decrease in cash and cash equivalents [5][11]. - Deposits decreased to $680.3 million at September 30, 2025, from $721.3 million at June 30, 2025, largely due to the withdrawal of approximately $59.3 million in deposits from a public entity [5][11]. - Stockholders' equity increased to $84.5 million at September 30, 2025, from $81.8 million at June 30, 2025, driven by a decrease in accumulated other comprehensive loss and net income [5][11]. Non-Performing Assets - Non-performing assets increased to $1.1 million at September 30, 2025, representing 0.12% of total assets, compared to 0.02% at June 30, 2025 [12][12]. Strategic Initiatives - The company announced a strategic alliance with ServBank, aiming to enhance financial results and profitability moving forward [3].

Core Insights - IF Bancorp, Inc. reported unaudited net income of $1.4 million, or $0.43 per share, for the three months ended September 30, 2025, an increase from $633,000, or $0.20 per share, for the same period in 2024 [1][8]. Financial Performance - Net interest income rose to $6.2 million for the three months ended September 30, 2025, compared to $4.8 million for the same period in 2024 [3][8]. - Interest income increased to $11.1 million in Q1 2026 from $10.9 million in Q1 2025, while interest expense decreased to $4.9 million from $6.1 million [3][8]. - A credit to the provision for credit losses of $42,000 was recorded in Q1 2026, contrasting with a provision of $382,000 in Q1 2025 [3][8]. - Noninterest income decreased to $1.1 million in Q1 2026 from $1.4 million in Q1 2025, while noninterest expense increased to $5.5 million from $5.0 million [3][8]. - Income tax expense for Q1 2026 totaled $512,000, up from $218,000 in Q1 2025 [3][8]. Balance Sheet Highlights - Total assets decreased to $862.3 million at September 30, 2025, from $887.7 million at June 30, 2025 [4][9]. - Cash and cash equivalents fell to $8.0 million from $20.1 million, while investment securities increased to $189.8 million from $187.8 million [4][9]. - Net loans receivable decreased to $619.3 million from $633.6 million, and deposits decreased to $680.3 million from $721.3 million, primarily due to a withdrawal of $59.3 million from a public entity [4][9]. - Total stockholders' equity increased to $84.5 million from $81.8 million, driven by a decrease in accumulated other comprehensive loss and net income [4][9]. Performance Ratios - Return on average assets was 0.64% for the three months ended September 30, 2025, compared to 0.49% for the previous year [8]. - Return on average equity improved to 6.69% from 5.52% [8]. - Net interest margin on average interest-earning assets increased to 2.97% from 2.47% [8]. Asset Quality - Non-performing assets rose to $1.1 million at September 30, 2025, from $211,000 at June 30, 2025 [9]. - The allowance for credit losses was $6.5 million, slightly down from $6.6 million [9]. - Non-performing assets to total assets ratio increased to 0.12% from 0.02% [9].

Core Viewpoint - ServBanc Holdco, Inc. and IF Bancorp, Inc. have entered into a definitive agreement for ServBanc Holdco and Servbank to acquire IF Bancorp and Iroquois Federal, respectively [1] Group 1 - ServBanc Holdco is the holding company for Servbank, National Association [1] - IF Bancorp, Inc. is the holding company for Iroquois Federal Savings and Loan Association [1] - The acquisition aims to enhance the banking services offered by both entities [1]

Group 1 - IF Bancorp (NASDAQ: IROQ) is the holding company for Iroquois Federal Savings and Loan Association, a small local bank based in Illinois with seven branches and a loan production office [1] - The investment group European Small Cap Ideas focuses on high-quality small-cap investment opportunities in Europe, emphasizing capital gains and dividend income [1] - The group offers two model portfolios: the European Small Cap Ideas portfolio and the European REIT Portfolio, along with weekly updates and educational content [1]