IF Bancorp(US:IROQ)2025-04-29 20:23Financial Performance - For the three months ended March 31, 2025, IF Bancorp, Inc. reported net income of $1.0 million, or $0.31 per share, compared to $708,000, or $0.22 per share for the same period in 2024, representing a 41.2% increase in net income year-over-year [2][9]. - Net interest income for the three months ended March 31, 2025, was $5.2 million, an increase of 22.5% from $4.3 million for the same period in 2024 [3][9]. - Non-interest income increased to $1.2 million for the three months ended March 31, 2025, compared to $1.1 million for the same period in 2024, marking an increase of 9.1% [3][9]. - The provision for income tax increased to $380,000 for the three months ended March 31, 2025, from $243,000 for the same period in 2024, indicating a rise of 56.3% [3][9]. - Return on average assets improved to 0.43% for the nine months ended March 31, 2025, compared to 0.20% for the same period in 2024 [10]. Asset and Equity Changes - Total assets decreased to $879.1 million at March 31, 2025, from $887.7 million at June 30, 2024, reflecting a decline of 1.5% [5][11]. - Total stockholders' equity increased to $78.9 million at March 31, 2025, from $73.9 million at June 30, 2024, driven by net income and other comprehensive income [5][11]. - The book value per share increased to $23.55 at March 31, 2025, up from $22.04 at June 30, 2024, reflecting a growth of 6.8% [3][11]. Deposit and Asset Quality - Deposits decreased significantly to $684.0 million at March 31, 2025, from $727.2 million at June 30, 2024, primarily due to the withdrawal of approximately $62.7 million in deposits from a public entity [5][11]. - Non-performing assets increased to $377,000 at March 31, 2025, from $173,000 at June 30, 2024, resulting in a non-performing assets to total assets ratio of 0.04% [12].