株探米国株
日本語 英語
エドガーで原本を確認する
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549

FORM 8-K
CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(D) OF
THE SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of earliest event reported): October 31, 2025

IF BANCORP, INC.
(Exact Name of Registrant as Specified in Charter)

Maryland
  
001-35226
  
45-1834449
(State or Other Jurisdiction
of Incorporation)
  
(Commission File No.)
  
(I.R.S. Employer
Identification No.)

201 East Cherry Street, Watseka, Illinois
  
60970
(Address of Principal Executive Offices)
  
(Zip Code)

Registrant's telephone number, including area code: (815) 432-2476

Not Applicable
(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

☐
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
   
Securities registered pursuant to Section 12(b) of the Act:

Title of each class
  
Trading
Symbol(s)
  
Name of each exchange on which registered
Common Stock, par value $0.01 per share
  
IROQ
  
The NASDAQ Stock Market, LLC

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
 
Emerging growth company ☐
 
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐


Item 2.02 Results of Operations and Financial Condition

On October 31, 2025, IF Bancorp, Inc., the holding company for Iroquois Federal Savings and Loan Association, issued a press release announcing its financial results for the quarter ended September 30, 2025.  A copy of the press release is included as Exhibit 99.1 to this report.

Item 9.01 Financial Statements and Exhibits

(d)
Exhibits
   
 
Exhibit No.
Description
     
 
Press release dated October 31, 2025
 
104
Cover Page Interactive Data File (embedded within the Inline XBRL document)
 



SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, hereunto duly authorized.


   
IF BANCORP, INC.
 
 
DATE: October 31, 2025
By:  
/s/ Pamela J. Verkler
   
Pamela J. Verkler
   
Senior Executive Vice President and Chief Financial Officer

























EX-99.1 2 ex99-1.htm EXHIBIT 99.1 PRESS RELEASE DATED OCTOBER 31, 2025
Exhibit 99.1

Contact:  Walter H. Hasselbring, III
                 (815) 432-2476
IF BANCORP, INC. ANNOUNCES RESULTS FOR FIRST QUARTER
OF FISCAL YEAR 2026 (UNAUDITED)

Watseka, Illinois, October 31, 2025 - IF Bancorp, Inc. (NASDAQ: IROQ) (the “Company”) the holding company for Iroquois Federal Savings and Loan Association (the “Association”), announced unaudited net income of $1.4 million, or $0.43 per basic and diluted share, for the three months ended September 30, 2025, compared to $633,000, or $0.20 per basic and diluted share, for the three months ended September 30, 2024.
“While we are excited about the strategic alliance with ServBank that we announced yesterday, we continue to work hard at improving our financial results.  The quarterly results move our profitability in the right direction as demonstrated by the expansion of our net interest margin.  The continued repricing of our loan portfolio and funding mix in the current interest rate environment has contributed to the bottom line,” said Walter H. “Chip” Hasselbring, Chief Executive Officer.
For the three months ended September 30, 2025, net interest income was $6.2 million compared to $4.8 million for the three months ended September 30, 2024.  Interest income increased to $11.1 million for the three months ended September 30, 2025, from $10.9 million for the three months ended September 30, 2024.  Interest expense decreased to $4.9 million for the three months ended September 30, 2025, from $6.1 million for the three months ended September 30, 2024.  We recorded a credit to our provision for credit losses of $42,000 in the three months ended September 30, 2025, compared to a provision for credit losses of $382,000 in the three months ended September 30, 2024.  Noninterest income decreased to $1.1 million for the three months ended September 30, 2025, from $1.4 million for the three months ended September 30, 2024.  Noninterest expense increased to $5.5 million for the three months ended September 30, 2025, from $5.0 million for the three months ended September 30, 2024.  For the three months ended September 30, 2025, income tax expense totaled $512,000 compared to $218,000 for the three months ended September 30, 2024.
Total assets at September 30, 2025 were $862.3 million compared to $887.7 million at June 30, 2025.  Cash and cash equivalents decreased to $8.0 million at September 30, 2025, from $20.1 million at June 30, 2025.  Investment securities increased to $189.8 million at September 30, 2025, from $187.8 million at June 30, 2025.  Net loans receivable decreased to $619.3 million at September 30, 2025, from $633.6 million at June 30, 2025.  Deposits decreased to $680.3 million at September 30, 2025, from $721.3 million at June 30, 2025.  The large decrease in deposits was due to approximately $59.3 million in deposits from a public entity that collects real estate taxes that were withdrawn during the three months ended September 30, 2025, when tax monies were distributed.  Total borrowings, including repurchase agreements, increased to $87.3 million at September 30, 2025 from $72.9 million at June 30, 2025.  Stockholders’ equity increased to $84.5 million at September 30, 2025 from $81.8 million at June 30, 2025.  Equity increased primarily due to a decrease of $1.8 million in accumulated other comprehensive loss , net of tax, net income of $1.4 million, and ESOP and stock equity plan activity of $167,000, partially offset by the accrual of approximately $670,000 in dividends to our stockholders.  The decrease in accumulated other comprehensive loss was primarily due to a decrease in unrealized depreciation on available-for-sale securities, net of tax.
IF Bancorp, Inc. is the savings and loan holding company for Iroquois Federal Savings and Loan Association.  The Association, originally chartered in 1883 and headquartered in Watseka, Illinois, conducts its operations from seven full-service banking offices located in Watseka, Danville, Clifton, Hoopeston, Savoy, Champaign and Bourbonnais, Illinois and a loan production office in Osage Beach, Missouri.  The principal activity of the Association’s wholly owned subsidiary, L.C.I. Service Corporation, is the sale of property and casualty insurance.

This press release may contain statements relating to the future results of the Company (including certain projections and business trends) that are considered "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995 (the “PSLRA”). Such forward-looking statements may be identified by the use of such words as "believe," "expect," "anticipate," "should," "planned," "estimated," "intend" and "potential." For these statements, the Company claims the protection of the safe harbor for forward-looking statements contained in the PSLRA.
 The Company cautions you that a number of important factors could cause actual results to differ materially from those currently anticipated in any forward-looking statement. Such factors include, but are not limited to: prevailing economic and geopolitical conditions, including changes in interest rates, the imposition of tariffs or other domestic or international governmental policies and retaliatory responses, loan demand, real estate values and competition; changes in accounting principles, policies, and guidelines; the effects of the federal government shutdown; changes in any applicable law, rule, regulation or practice with respect to tax or legal issues; and other economic, competitive, governmental, regulatory and technological factors affecting the Company's operations, pricing, products and services and other factors that may be described in the Company’s annual report on Form 10-K and quarterly reports on Form 10-Q as filed with the Securities and Exchange Commission. The forward-looking statements are made as of the date of this release, and, except as may be required by applicable law or regulation, the Company assumes no obligation to update the forward-looking statements or to update the reasons why actual results could differ from those projected in the forward-looking statements.


Selected Income Statement Data
(Dollars in thousands, except per share data)
   
For the Three Months Ended September 30,
  
   
2025
    
2024
  
   
(unaudited)
  
Interest income
  
$
11,092
    
$
10,913
  
Interest expense
    
4,909
      
6,092
  
Net interest income
    
6,183
      
4,821
  
Provision (credit) for credit losses
    
(42
)
    
382
  
Net interest income after provision (credit) for credit losses
    
6,225
      
4,439
  
Noninterest income
    
1,142
      
1,408
  
Noninterest expense
    
5,463
      
4,996
  
Income before taxes
    
1,904
      
851
  
Income tax expense
    
512
      
218
  
                 
Net income
  
$
1,392
    
$
633
  
                 
            Earnings per share (1)                
    Basic
  
$
0.43
    
$
0.20
  
    Diluted
    
0.43
      
0.20
  
Weighted average shares outstanding (1)
                
    Basic
    
3,238,462
      
3,220,717
  
    Diluted
    
3,238,462
      
3,220,717
  
   
footnotes on following page
Performance Ratios
   
For the Three Months Ended
September 30, 2025
    
For the Year Ended
June 30, 2025
  
   
(unaudited)
        
Return on average assets
    
0.64
%
    
0.49
%
Return on average equity
    
6.69
%
    
5.52
%
Net interest margin on average interest earning assets
    
2.97
%
    
2.47
%



Selected Balance Sheet Data
(Dollars in thousands, except per share data)
   
At
September 30, 2025
    
At
June 30, 2025
  
   
(unaudited)
        
Assets
  
$
862,332
    
$
887,659
  
Cash and cash equivalents
    
8,027
      
20,092
  
Investment securities
    
189,824
      
187,753
  
Net loans receivable
    
619,282
      
633,603
  
Deposits
    
680,264
      
721,258
  
Federal Home Loan Bank borrowings, repurchase agreements and other borrowings
    
87,254
      
72,919
  
Total stockholders’ equity
    
84,522
      
81,837
  
Book value per share (2)
    
   25.22
      
24.42
  
Average stockholders’ equity to average total assets
    
9.56
%
    
8.83
%

Asset Quality
(Dollars in thousands)
   
At
September 30, 2025
    
At
June 30, 2025
  
   
          (unaudited)
  
Non-performing assets (3)
  
$
1,057
    
$
211
  
Allowance for credit losses
    
6,491
      
6,627
  
Non-performing assets to total assets
    
0.12
%
    
0.02
%
Allowance for credit losses on loans to total loans
    
1.04
%
    
1.04
%
                 

(1)  Shares outstanding do not include ESOP shares not committed for release.
(2)  Total stockholders’ equity divided by shares outstanding of 3,351,526 at both September 30, 2025, and at June 30, 2025.
(3)  Non-performing assets include non-accrual loans, loans past due 90 days or more and accruing, and foreclosed assets held for sale.