IF Bancorp(US:IROQ)2025-01-30 21:20Financial Performance - For the three months ended December 31, 2024, net income was $1.2 million, or $0.38 per share, compared to $185,000, or $0.06 per share for the same period in 2023, representing a significant increase [2][3]. - Net interest income for the three months ended December 31, 2024, was $5.0 million, up from $4.4 million in the same period of 2023, indicating a growth of approximately 14% [3][9]. - Interest income increased to $11.0 million for the three months ended December 31, 2024, compared to $10.2 million for the same period in 2023, reflecting an increase of about 7.8% [3][9]. - Noninterest income rose to $1.3 million for the three months ended December 31, 2024, from $915,000 in the same period of 2023, marking an increase of approximately 38% [3][9]. Assets and Equity - Total assets at December 31, 2024, were $885.1 million, a slight decrease from $887.7 million at June 30, 2024 [5][11]. - Stockholders' equity increased to $75.9 million at December 31, 2024, from $73.9 million at June 30, 2024, driven by net income and other comprehensive income [5][11]. - The book value per share at the end of the quarter was $22.66, up from $22.04 at June 30, 2024 [5][11][13]. Deposits and Withdrawals - Deposits decreased to $682.1 million at December 31, 2024, down from $727.2 million at June 30, 2024, primarily due to a withdrawal of $62.7 million from a public entity [5][11]. Asset Quality - The return on average assets for the six months ended December 31, 2024, was 0.42%, compared to 0.20% for the year ended June 30, 2024 [10]. - Non-performing assets increased to $248,000 at December 31, 2024, from $173,000 at June 30, 2024, with non-performing assets to total assets ratio at 0.03% [12].