IF Bancorp(US:IROQ)2024-04-30 20:30Financial 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]