Businesswire·2026-01-30 21:15Core 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]