Financial Performance - Net income for the fiscal year ended June 30, 2024, was $1.8 million, a decrease of $2.9 million or 61.6% from $4.7 million in the previous year[3] - Net interest income decreased to $17.7 million for the year ended June 30, 2024, down from $22.0 million for the year ended June 30, 2023[3] - Noninterest income rose to $4.4 million for the year ended June 30, 2024, compared to $4.1 million for the year ended June 30, 2023[3] - Return on average assets decreased to 0.20% for the year ended June 30, 2024, down from 0.56% for the previous year[10] Interest and Loans - Interest income increased to $41.0 million for the year ended June 30, 2024, compared to $32.1 million for the year ended June 30, 2023[3] - Net loans receivable rose to $639.3 million at June 30, 2024, up from $587.5 million at June 30, 2023[4] Assets and Borrowings - Total assets increased to $887.7 million at June 30, 2024, from $849.0 million at June 30, 2023[4] - Total borrowings increased significantly to $76.0 million at June 30, 2024, from $30.3 million at June 30, 2023[4] Credit Losses and Dividends - The allowance for credit losses on loans increased to $7.5 million at June 30, 2024, from $7.1 million at June 30, 2023[5] - The company plans to pay a cash dividend of $0.20 per common share on or about October 18, 2024[5]

Financial Performance - Net income for the nine months ended March 31, 2024, was $1.4 million, compared to $4.1 million for the same period in 2023[163]. - Net income decreased by $2.7 million to $1.4 million for the nine months ended March 31, 2024, compared to $4.1 million for the same period in 2023[181]. - Net income for the three months ended March 31, 2024, increased by $18,000 to $708,000 compared to $690,000 for the same period in 2023[193]. Assets and Loans - Total assets increased by $56.0 million, or 6.6%, to $905.0 million at March 31, 2024, from $849.0 million at June 30, 2023[172]. - Net loans receivable increased by $55.9 million, or 9.5%, to $643.3 million at March 31, 2024, primarily driven by a $38.1 million, or 42.5%, increase in multi-family loans[173]. - Total loans for the three months ended March 31, 2024, amounted to $661,492 thousand, generating interest income of $9,273 thousand with a yield of 5.61%, compared to $581,600 thousand in loans and $6,690 thousand in interest income at a yield of 4.60% for the same period in 2023[231]. Interest Income and Expense - Net interest income decreased to $13.2 million for the nine months ended March 31, 2024, from $17.3 million for the same period in 2023[161]. - Interest and dividend income increased by $6.9 million, or 29.7%, to $30.3 million for the nine months ended March 31, 2024, driven by a $6.8 million increase in interest on loans[184]. - Interest expense increased by $11.0 million, or 182.5%, to $17.1 million for the nine months ended March 31, 2024, primarily due to an $8.4 million increase in interest on deposits[185]. Credit Losses and Allowance - The allowance for credit losses is evaluated regularly and reflects significant judgments and assumptions regarding the collectability of the loan portfolio[168]. - Provision for credit losses totaled $196,000 for the nine months ended March 31, 2024, compared to $253,000 for the same period in 2023, with an allowance for credit losses at $7.7 million, or 1.19% of total loans[188]. - The company recorded a provision (credit) for credit losses of $(390,000) for the three months ended March 31, 2024, compared to a provision of $240,000 for the same period in 2023, reflecting a significant recovery in the loan portfolio[200]. Deposits and Equity - Deposits decreased by $53.5 million, or 7.3%, to $681.8 million at March 31, 2024, primarily due to a significant withdrawal from a public entity[178]. - Total equity increased by $631,000, or 0.9%, to $72.4 million as of March 31, 2024, from $71.8 million at June 30, 2023, primarily due to net income of $1.4 million[180]. Noninterest Income and Expense - Noninterest income increased by $155,000, or 5.1%, to $3.2 million for the nine months ended March 31, 2024, primarily due to gains on the sale of loans and securities[190]. - Noninterest expense decreased by $222,000, or 1.5%, to $14.4 million for the nine months ended March 31, 2024, with notable decreases in compensation and benefits[191]. - Noninterest income increased by $198,000, or 21.0%, to $1.1 million for the three months ended March 31, 2024, driven by increases in mortgage banking income, insurance commissions, and gains on loan sales[201]. Regulatory and Capital Ratios - As of March 31, 2024, the Community Bank Leverage Ratio was 9.03%, slightly down from 9.51% on June 30, 2023, and above the minimum requirement of 9.00%[229]. - The Association maintained a well-capitalized status under the regulatory framework for prompt corrective action, with no changes in conditions or events affecting this status[228]. Cash Flow and Commitments - Net cash provided by operating activities was $1.1 million for the nine months ended March 31, 2024, compared to $1.7 million for the same period in 2023[219]. - The company had commitments to fund loans of $9.1 million and lines of credit totaling $75.9 million as of March 31, 2024[221].

Financial Performance - For the three months ended March 31, 2024, net income was $708,000, or $0.22 per basic and diluted share, compared to $690,000, or $0.22 per basic share and $0.21 per diluted share for the same period in 2023[2] - Net interest income decreased to $4.3 million for the three months ended March 31, 2024, down from $5.0 million for the same period in 2023[4] - Interest income increased to $10.8 million for the three months ended March 31, 2024, compared to $8.2 million for the same period in 2023[4] - Non-interest income increased to $1.1 million for the three months ended March 31, 2024, from $942,000 for the same period in 2023[4] - Provision for income tax increased to $243,000 for the three months ended March 31, 2024, from $202,000 for the same period in 2023[4] Asset and Liability Management - Total assets increased to $905.0 million at March 31, 2024, from $849.0 million at June 30, 2023[6] - Deposits decreased to $681.8 million at March 31, 2024, from $735.3 million at June 30, 2023, largely due to a withdrawal of approximately $62.1 million in deposits from a public entity[6] - The allowance for credit losses was $7.7 million at March 31, 2024, compared to $7.1 million at June 30, 2023[14] Performance Ratios - Return on average assets was 0.21% for the nine months ended March 31, 2024, down from 0.56% for the same period in 2023[12] - Book value per share increased to $21.59 at March 31, 2024, from $21.39 at June 30, 2023[13]

Financial Performance - The Company reported a net income of $651,000 for the six months ended December 31, 2023, compared to $3.4 million for the same period in 2022[165]. - Net income decreased by $2.7 million to $651,000 for the six months ended December 31, 2023, compared to $3.4 million for the same period in 2022[184]. - Noninterest income decreased by $43,000, or 2.1%, to $2.0 million for the six months ended December 31, 2023, primarily due to a decrease in mortgage banking income[193]. - Noninterest expense decreased by $214,000, or 2.2%, to $9.6 million for the six months ended December 31, 2023, with the largest components being a decrease in compensation and benefits[194]. - Income tax expense provision was $222,000 for the six months ended December 31, 2023, compared to $1.2 million for the same period in 2022, reflecting effective tax rates of 25.4% and 26.7% respectively[195]. Asset and Loan Growth - Total assets increased by $61.8 million, or 7.3%, to $910.8 million at December 31, 2023, from $849.0 million at June 30, 2023[174]. - Net loans receivable increased by $66.1 million, or 11.3%, to $653.6 million at December 31, 2023, driven by a 43.5% increase in multi-family loans[175]. - Total interest-earning assets increased by $745 million to $4,336 million for the six months ended December 31, 2023, compared to the same period in 2022[241]. - Loans increased by $1,084 million for the three months ended December 31, 2023, compared to $1,019 million in the same period of 2022[241]. Interest Income and Expense - Net interest income decreased to $9.0 million for the six months ended December 31, 2023, down from $12.3 million for the same period in 2022[163]. - Interest and dividend income increased by $4.3 million, or 28.6%, to $19.5 million for the six months ended December 31, 2023, driven by a $4.2 million increase in interest income on loans[187]. - Interest expense increased by $7.7 million, or 265.1%, to $10.5 million for the six months ended December 31, 2023, primarily due to an increase in interest on deposits[188]. - The average balance of total interest-bearing deposits for the three months ended December 31, 2023, was $634,795 thousand, with an interest expense of $4,336 thousand and a cost of 2.73%[235]. Capital and Regulatory Compliance - The Association was categorized as "well capitalized" under regulatory capital requirements as of December 31, 2023[165]. - As of December 31, 2023, the Community Bank Leverage Ratio was 9.2%, above the minimum requirement of 9.0%[232]. - The Community Bank Leverage Ratio was opted into by the Association in 2020, currently set at 9%[230]. Deposits and Borrowings - Deposits decreased by $57.3 million, or 7.8%, to $678.0 million at December 31, 2023, primarily due to a significant withdrawal from a public entity[181]. - Borrowings from the Federal Home Loan Bank increased by $78.6 million to $98.1 million at December 31, 2023, from $19.5 million at June 30, 2023[181]. - Federal Home Loan Bank advances were $98.1 million as of December 31, 2023, with additional borrowing capacity of up to $8.5 million available[226]. Credit Quality - Non-performing loans totaled $29,000, or 0.1% of total loans, at December 31, 2023, consistent with the previous quarter[164]. - The allowance for credit losses increased by $796,000 to $7.9 million at December 31, 2023, primarily due to an increase in the loan portfolio[214]. - Provision for credit losses totaled $586,000 for the six months ended December 31, 2023, compared to $13,000 for the same period in 2022[191]. - Provision for credit losses totaled $364,000 for the three months ended December 31, 2023, compared to $101,000 for the same period in 2022, reflecting a significant increase in provisions[203]. Cash Flow - Net cash provided by operating activities was $1.1 million for the six months ended December 31, 2023, compared to $551,000 for the same period in 2022[221]. - Cash and cash equivalents totaled $8.2 million at December 31, 2023, with interest-earning time deposits amounting to $750,000[220].

Financial Performance - Net interest income decreased to $4.6 million for the three months ended September 30, 2023, down from $6.3 million for the same period in 2022[157]. - Net income for the three months ended September 30, 2023, was $466,000, compared to $2.0 million for the same period in 2022, reflecting a decrease due to lower net interest income and increased provision for credit losses[159]. - Net income for the three months ended September 30, 2023, decreased by $1.5 million to $466,000, compared to $2.0 million for the same period in 2022[177]. - Noninterest income decreased by $90,000, or 7.4%, to $1.1 million for the three months ended September 30, 2023, from $1.2 million for the same period in 2022[186]. - Noninterest expense remained unchanged at $4.8 million for both the three months ended September 30, 2023, and September 30, 2022[187]. Asset and Liability Management - Total assets increased by $21.7 million, or 2.6%, to $870.7 million at September 30, 2023, primarily due to a $27.1 million increase in net loans[168]. - Total liabilities were $783.3 million as of September 30, 2023, compared to $733.9 million as of June 30, 2023[214]. - Total interest-earning assets amounted to $811.6 million for the three months ended September 30, 2023, with a net interest income of $4.6 million[214]. - Total interest-earning assets increased by $2,213 million, with loans contributing $2,133 million to this increase[217]. - Total interest-bearing liabilities rose to $3,880 million, with certificates of deposit accounting for $2,081 million of the total[217]. Loan and Deposit Activity - Net loans receivable increased by $27.1 million, or 4.6%, to $614.6 million at September 30, 2023, driven by a 42.8% increase in construction loans[169]. - Deposits decreased by $48.2 million, or 6.6%, to $687.1 million at September 30, 2023, with a significant drop in noninterest bearing demand accounts[174]. - Interest-bearing checking or NOW accounts saw a decrease of $6 million, while savings accounts increased by $61 million[217]. - Commitments to fund loans increased to $15.5 million as of September 30, 2023, from $5.1 million as of June 30, 2023[204]. Interest Income and Expense - Interest income increased by $2.2 million, or 31.3%, to $9.3 million for the three months ended September 30, 2023, from $7.1 million for the same period in 2022[180]. - Interest expense increased by $3.9 million, or 468.6%, to $4.7 million for the three months ended September 30, 2023, from $828,000 for the same period in 2022[181]. - The net interest margin decreased to 2.26% for the three months ended September 30, 2023, down from 3.26% in the same period of 2022[214]. Credit Quality - The allowance for credit losses on off-balance sheet credit exposures decreased to $129,000 at September 30, 2023, from $216,000 at June 30, 2023[175]. - Non-performing loans totaled $136,000, or 0.1% of total loans, at September 30, 2023, consistent with the previous quarter[158]. - The allowance for credit losses increased by $311,000 to $7.5 million at September 30, 2023, from $7.1 million at June 30, 2023[196]. - At September 30, 2023, total non-performing loans to total loans was 0.02%[186]. - Provision for credit losses recorded was $222,000 for the three months ended September 30, 2023, compared to a credit for credit losses of $(88,000) for the same period in 2022[184]. Capital and Liquidity - The Association was categorized as "well capitalized" under federal regulations as of September 30, 2023[159]. - The Community Bank Leverage Ratio was 9.5% as of September 30, 2023, meeting the minimum requirement of 9.0%[212]. - As of September 30, 2023, the liquidity ratio averaged 27.2% of total assets, compared to 29.3% for the year ended June 30, 2023[199]. - Cash and cash equivalents totaled $13.6 million, with interest-earning time deposits at $1.3 million as of September 30, 2023[201]. - The company anticipates sufficient funds to meet current commitments through liquid assets and borrowing capacity[203]. Risk Management - The company performed an internal interest rate risk analysis, with no material changes in interest rate risk as of September 30, 2023[218]. - The analysis of Earnings at Risk and Value at Risk was conducted at least quarterly, ensuring ongoing risk assessment[218].

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended June 30, 2023 Table of Contents OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-35226 IF BANCORP, INC. (Exact name of registrant as specified in its charter) Maryland 45-1834449 (State or other jurisdiction of ...

FORM 10-Q ☒ Quarterly Report Pursuant To Section 13 or 15(d) of the Securities Exchange Act of 1934 SECURITIES AND EXCHANGE COMMISSION For the quarterly period ended March 31, 2023 Washington, D.C. 20549 OR ☐ Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the transition period from to Commission File No. 001-35226 IF Bancorp, Inc. (Exact name of registrant as specified in its charter) Maryland 45-1834449 (State or other jurisdiction of incorporation or organizat ...

SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ Quarterly Report Pursuant To Section 13 or 15(d) of the Securities Exchange Act of 1934 For the quarterly period ended December 31, 2022 OR ☐ Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the transition period from _______________ to _______________ Commission File No. 001-35226 IF Bancorp, Inc. (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporati ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended June 30, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-35226 IF BANCORP, INC. (Exact name of registrant as specified in its charter) Maryland 45-1834449 (State or other jurisdiction of ...

Table of Contents SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ Quarterly Report Pursuant To Section 13 or 15(d) of the Securities Exchange Act of 1934 For the quarterly period ended March 31, 2022 OR ☐ Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the transition period from to Commission File No. 001-35226 IF Bancorp, Inc. (Exact name of registrant as specified in its charter) Maryland 45-1834449 (State or other jurisdiction of incorpor ...