Private company
IF Bancorp, Inc.
Savings institution company1
In its 2025 annual report the company says: “IF Bancorp, Inc. is a Maryland corporation formed in March 2011 to become the holding company for Iroquois Federal Savings and Loan Association. The Company is primarily engaged in the business of directing, planning, and coordinating the business activities of Iroquois Federal. The Company’s most significant asset is its investment in Iroquois Federal.”4 It is headquartered in Watseka, Illinois.1
Last updated Oct 21, 2026.
Overview
- IndustrySavings Institution, Federally Chartered1
- HeadquartersWatseka, Illinois1
- Business address201 E. Cherry St, Watseka, Il 609703
- Filer categoryNon-accelerated filer, Smaller reporting company3
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IF Bancorp, Inc. (“IF Bancorp” or the “Company”) is a Maryland corporation formed in March 2011 to become the holding company for Iroquois Federal Savings and Loan Association (“Iroquois Federal” or the “Association”).4 From its latest annual report
Financials
From the company’s reports to the SEC. Every number links to the filing it came from.
Key numbers, fiscal 2025
Financial statements
| Fiscal year | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Interest | $5.3M5 | $8.9M6 | $8.7M7 | $4.2M8 | $2.5M9 | $10.1M10 | $23.3M10 | |
| Income before tax | $7.8M9 | $6.3M10 | $2.4M2 | $5.9M2 | ||||
| Income tax | $2.7M5 | $1.3M6 | $1.6M7 | $2.0M8 | $2.0M9 | $1.6M10 | $565.0K2 | $1.6M2 |
| Net income | $1.7M5 | $3.6M6 | $4.2M7 | $5.3M8 | $5.8M9 | $4.7M10 | $1.8M2 | $4.3M2 |
| Earnings per share | $0.475 | $1.026 | $1.377 | $1.768 | $1.889 | $1.5010 | $0.572 | $1.372 |
| Earnings per share (diluted) | $0.475 | $1.016 | $1.357 | $1.748 | $1.849 | $1.4610 | $0.572 | $1.372 |
| Shares (weighted, basic) | 3.1M shares9 | 3.1M shares10 | 3.1M shares2 | 3.2M shares2 | ||||
| Shares (weighted, diluted) | 3.1M shares9 | 3.2M shares10 | 3.1M shares2 | 3.2M shares2 |
| Fiscal year | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Cash | $4.8M6 | $59.6M7 | $33.5M7 | $62.7M8 | $75.8M9 | $11.0M10 | $9.6M2 | $20.1M2 |
| Property, plant and equipment | $9.5M9 | $11.1M10 | $10.6M2 | $10.2M2 | ||||
| Total assets | $638.9M5 | $723.9M6 | $735.5M7 | $797.3M8 | $857.6M9 | $849.0M10 | $887.7M2 | $887.7M2 |
| Total liabilities | $557.2M5 | $641.4M6 | $653.0M7 | $712.0M8 | $785.9M9 | $777.2M10 | $813.8M2 | $805.8M2 |
| Retained earnings | $40.4M9 | $43.4M10 | $43.9M2 | $46.9M2 | ||||
| Shareholders’ equity | $81.7M6 | $82.5M7 | $82.6M8 | $85.3M9 | $71.7M10 | $71.8M2 | $73.9M2 | $81.8M2 |
| Shares outstanding | 3.9M shares13 | 3.6M shares5 | 3.2M shares6 | 3.2M shares7 | 3.3M shares8 | 3.4M shares9 | 3.4M shares10 | 3.4M shares14 |
Cash flow is reported year to date, not quarter by quarter, so there are no separate quarterly figures.
| Fiscal year | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Cash from operations | $4.8M5 | $5.8M6 | $6.9M7 | $6.9M8 | $8.7M9 | $2.8M10 | $2.3M2 | $6.8M2 |
| Stock-based compensation | $156.0K9 | $327.0K10 | $260.0K2 | $187.0K2 | ||||
| Capital spending | $4.9M5 | $1.1M6 | $158.0K7 | $279.0K8 | $387.0K9 | $2.2M10 | $247.0K2 | $242.0K2 |
| Free cash flow | -$16.0K | $4.7M | $6.7M | $6.6M | $8.3M | $516.0K | $2.0M | $6.5M |
| Cash from investing | -$68.8M9 | -$57.1M10 | -$39.8M2 | $14.1M2 | ||||
| Dividends paid | $730.0K5 | $868.0K6 | $939.0K7 | $909.0K8 | $1.1M9 | $1.3M10 | $1.3M2 | $1.3M2 |
| Share buybacks | $1.4M5 | $6.2M6 | $7.5M7 | $07 | ||||
| Cash from financing | $73.2M9 | -$10.5M10 | $36.1M2 | -$10.3M2 | ||||
| Dividend per share | $0.205 | $0.256 | $0.307 | $0.308 | $0.359 | $0.4010 | $0.402 | $0.402 |
Corporate structure
IF Bancorp, Inc. sits at the top of its group. 1 entity on record. Switch between the flow chart and the network, and select any entity to see its details.
Major holders of IF Bancorp, Inc.
- Jeffrey L. Gendell Filed SCHEDULE 13G/A on IF Bancorp, Inc., latest May 15, 2026 (5 filings since Feb 11, 2022)
- Joseph Stilwell Filed SCHEDULE 13D/A on IF Bancorp, Inc., latest Mar 16, 2026 (7 filings since Sep 18, 2023)
- Iroquois Federal Foundation, Inc. Filed SCHEDULE 13G/A on IF Bancorp, Inc., latest Feb 4, 2026 (2 filings since Jan 29, 2025)
- Iroquois Federal Savings & Loan Association Employee Stock Ownership Plan Trust Filed SCHEDULE 13G/A on IF Bancorp, Inc., latest Feb 4, 2026 (2 filings since Feb 4, 2025)
- MALTESE CAPITAL MANAGEMENT LLC Filed SC 13G/A on IF Bancorp, Inc., latest Nov 14, 2024 (4 filings since Feb 14, 2022)
- Gary S. Schwab Filed SC 13G/A on IF Bancorp, Inc., latest Jan 26, 2024 (3 filings since Feb 2, 2022)
- IF Bancorp, Inc. Watseka, Illinois
Built from major holders from Schedules 13D and 13G. Each entity in the chart links to its source.
What it owns
What IF Bancorp, Inc. reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.
Property and equipment
| Item | Latest | A year before | Change |
|---|---|---|---|
| Land | $2.1M2 Jun 30, 2025 | $2.1M2 Jun 30, 2024 | 0% |
| Buildings and improvements | $13.3M2 Jun 30, 2025 | $13.2M2 Jun 30, 2024 | +0.9% |
| Furniture and fixtures | $4.3M2 Jun 30, 2025 | $4.4M2 Jun 30, 2024 | −4.4% |
| Property and equipment, before depreciation | $19.7M2 Jun 30, 2025 | $19.8M2 Jun 30, 2024 | −0.4% |
| Accumulated depreciation | $9.5M2 Jun 30, 2025 | $9.2M2 Jun 30, 2024 | +3.3% |
| Property and equipment, net | $10.2M2 Jun 30, 2025 | $10.6M2 Jun 30, 2024 | −3.6% |
Investments
| Item | Latest | A year before | Change |
|---|---|---|---|
| Cash and cash equivalents | $20.1M2 Jun 30, 2025 | $9.6M2 Jun 30, 2024 | +109.9% |
| Marketable securities, current | $16.7M2 Jun 30, 2025 | $24.2M10 Jun 30, 2024 | −31.2% |
| Debt securities available for sale | $187.8M2 Jun 30, 2025 | $190.5M2 Jun 30, 2024 | −1.4% |
| Loans, net of allowance | $633.6M2 Jun 30, 2025 | $639.3M2 Jun 30, 2024 | −0.9% |
| Deposits held (banks) | $721.3M2 Jun 30, 2025 | $727.2M2 Jun 30, 2024 | −0.8% |
Properties, in its own words
We operate from our main office, six branch offices, an administrative office, and a data center located in Iroquois, Vermilion, Champaign and Kankakee Counties, Illinois, and a loan production office in Osage Beach, Missouri. The net book value of our premises, land and equipment was $10.2 million at June 30, 2025. The following tables set forth information with respect to our banking offices, including the expiration date of leases with respect to leased facilities.
Location · Year Opened · Owned/ Leased
The rest of Item 2
Main Office:
201 East Cherry Street Watseka, Illinois 60970 · 1964 · Owned
Branches:
619 North Gilbert Street Danville, Illinois 61832 · 1973 · Owned
175 East Fourth Avenue Clifton, Illinois 60927 · 1977 · Owned
655 South Dixie Highway Hoopeston, Illinois 60942 · 2023 · Owned
108 Arbours Drive Savoy, Illinois 61874 · 2014 · Owned
421 Brown Boulevard Bourbonnais, Illinois 60914 · 2017 · Owned
2411 Village Green Place Champaign, Illinois 61822 · 2018 · Owned
Loan Production Office:
3535 Highway 54 Osage Beach, Missouri 65065 · 2006 · Owned
Administrative Office:
204 East Cherry Street Watseka, Illinois 60970 · 2001 · Owned
Data Center:
183 Bethel Drive Bourbonnais, Illinois 60914 · 2019 · Leased (expires March 31, 2028)
Item 2 of the 10-K filed Sep 11, 2025.4
Leadership
Who has led IF Bancorp, Inc., and when. Pick a name to see everywhere that person has worked.
Chief executive
Chief financial officer
Chief operating officer
- Chief executive officerWalter H. Hasselbring Iii. Dec 14, 2015 to now15
- Chief executive officerAlan D. Martin Jul 6, 2011 to Dec 11, 201316
- PresidentThomas J. Chamberlain Mar 13, 2026 to now17
- PresidentWalter H. Hasselbring Iii. Dec 14, 2015 to Mar 13, 202615
- PresidentAlan D. Martin Jul 6, 2011 to Dec 11, 201316
- Chief financial officerPamela J. Verkler Jul 6, 2011 to now18
- Chief operating officerLinda L. Hamilton Oct 13, 2015 to now19
- Chief operating officerWalter H. Hasselbring Iii. Jul 6, 2011 to Dec 11, 201320
Board members and other officers (14)
- Vice PresidentTerry W. Acree Jul 6, 2011 to Dec 11, 201321
- Vice PresidentThomas J. Chamberlain Jul 6, 2011 to May 4, 202122
- Board memberScott J. Dworschak Oct 16, 2025 to now23
- Board memberPamela J. Verkler Feb 28, 2023 to now24
- Board memberWalter H. Hasselbring Iii. Feb 28, 2023 to now25
- Board memberRichard Stenzinger Nov 29, 2022 to now26
- Board memberAlan D. Martin Jul 6, 2011 to now16
- Board memberArdith Heuton Jul 6, 2011 to Jul 11, 201127
- Board memberDennis C. Wittenborn Jul 6, 2011 to now28
- Board memberFrank J. Simutis Jul 6, 2011 to Dec 14, 201529
- Board memberJoseph A. Cowan Jul 6, 2011 to now30
- Board memberRodney E. Yergler Jul 6, 2011 to now31
- Board memberWayne A. Lehmann Jul 6, 2011 to now32
- General counselThomas J. Chamberlain Dec 2, 2021 to now33
Timeline
- Mar 13, 20268-K Completed an acquisition or sale; Listing notice or transfer; Change to shareholders' rights34
- Mar 10, 20268-K Other events35
- Feb 4, 20268-K Shareholder vote; Other events36
- Jan 30, 20268-K Results of operations37
- Jan 27, 20268-K Other events38
- Jan 14, 20268-K Other events39
- Oct 31, 20258-K Results of operations40
- Oct 30, 20258-K Entered a material agreement; Other events41
- Sep 26, 20258-K Executive or director change42
- Sep 16, 20258-K Entered a material agreement43
- Aug 29, 20258-K Results of operations44
- Aug 13, 20258-K Other events45
- Dec 14, 2015New chief executive Walter H. Hasselbring Iii. becomes CEO15
- Jul 6, 2011New chief executive Alan D. Martin becomes CEO16
Calendar
When it reported results
- Jan 30, 2026Reported quarterly or annual results37
- Oct 31, 2025Reported quarterly or annual results40
- Aug 29, 2025Reported quarterly or annual results44
- Apr 29, 2025Reported quarterly or annual results46
- Jan 30, 2025Reported quarterly or annual results47
- Nov 4, 2024Reported quarterly or annual results48
- Aug 29, 2024Reported quarterly or annual results49
- Apr 30, 2024Reported quarterly or annual results50
Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar
Filings
146 filings to the SEC since October 2021: 5 annual reports, 14 quarterly reports, 42 major events, 34 insider forms, 29 large holders, 22 other. The latest 20:
- May 15, 2026SCHEDULE 13G/A EDGAR
- Mar 23, 202615-12G FORM 15-12(G) EDGAR
- Mar 16, 2026SCHEDULE 13D/A EDGAR
- Mar 13, 20264 EDGAR
- Mar 13, 20264 EDGAR
- Mar 13, 20264 EDGAR
- Mar 13, 20264 EDGAR
- Mar 13, 20264 EDGAR
- Mar 13, 20264 EDGAR
- Mar 13, 20264 EDGAR
- Mar 13, 20264 EDGAR
- Mar 13, 20264 EDGAR
- Mar 13, 20264 EDGAR
- Mar 13, 20264 EDGAR
- Mar 13, 2026S-8 POS S-8 POS (REGISTRATION NO. 333-176222) EDGAR
- Mar 13, 2026S-8 POS S-8 POS (REGISTRATION NO. 333-185075) EDGAR
- Mar 13, 2026S-8 POS S-8 POS (REGISTRATION NO. 333-268599) EDGAR
- Mar 13, 20268-K EDGAR
- Mar 10, 20268-K EDGAR
- Feb 12, 202610-Q EDGAR
The 146 filings since October 2021 can be filtered by form type and year here when JavaScript is on.
Every filing from the last five years, summarized. The full record is on SEC EDGAR.
Insider trades
12 open-market trades by officers, directors and large owners since October 2021: 12 buys and 0 sales. Grants, option exercises and gifts are left out.
| Date | Who | Trade | Shares | Price | Value | Filing |
|---|---|---|---|---|---|---|
| Nov 12, 2024 | CHAMBERLAIN THOMAS JPresident | Buy | 553 | $21.00 | $11.6K | Form 4 |
| May 3, 2024 | CHAMBERLAIN THOMAS JPresident | Buy | 982 | $16.49 | $16.2K | Form 4 |
| Nov 14, 2023 | CHAMBERLAIN THOMAS JPresident | Buy | 459 | $14.42 | $6.6K | Form 4 |
| Nov 13, 2023 | CHAMBERLAIN THOMAS JPresident | Buy | 45 | $14.30 | $644 | Form 4 |
| Jun 12, 2023 | CHAMBERLAIN THOMAS JPresident | Buy | 871 | $13.89 | $12.1K | Form 4 |
| Jun 9, 2023 | CHAMBERLAIN THOMAS JPresident | Buy | 204 | $13.90 | $2.8K | Form 4 |
| May 4, 2023 | CHAMBERLAIN THOMAS JPresident | Buy | 1,500 | $15.07 | $22.6K | Form 4 |
| May 3, 2023 | CHAMBERLAIN THOMAS JPresident | Buy | 1,222 | $15.34 | $18.7K | Form 4 |
| May 2, 2023 | CHAMBERLAIN THOMAS JPresident | Buy | 212 | $14.90 | $3.2K | Form 4 |
| Nov 14, 2022 | CHAMBERLAIN THOMAS JPresident | Buy | 287 | $18.75 | $5.4K | Form 4 |
| Dec 1, 2021 | CHAMBERLAIN THOMAS JPresident | Buy | 23 | $23.20 | $534 | Form 4 |
| Nov 30, 2021 | CHAMBERLAIN THOMAS JPresident | Buy | 195 | $23.09 | $4.5K | Form 4 |
From Forms 4 filed with the SEC.
Major holders
Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.
- Jeffrey L. GendellSCHEDULE 13G/A, 5 filings Feb 11, 2022 to May 15, 202651
- Joseph StilwellSCHEDULE 13D/A, 7 filings Sep 18, 2023 to Mar 16, 202652
- Iroquois Federal Foundation, Inc.SCHEDULE 13G/A, 2 filings Jan 29, 2025 to Feb 4, 202653
- Iroquois Federal Savings & Loan Association Employee Stock Ownership Plan TrustSCHEDULE 13G/A, 2 filings Feb 4, 2025 to Feb 4, 202654
- MALTESE CAPITAL MANAGEMENT LLCSC 13G/A, 4 filings Feb 14, 2022 to Nov 14, 202455
- Gary S. SchwabSC 13G/A, 3 filings Feb 2, 2022 to Jan 26, 202456
SEC filer profile
How IF Bancorp, Inc. is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.
- Name on EDGARIF Bancorp, Inc.1
- CIK0001514743
- Employer ID (EIN)45-18344494
- Filer statusNon-accelerated filer not an emerging growth company; a smaller reporting company; not a shell company4
- Incorporated inMaryland4
- Fiscal year endsJune 301
- Industry code (SIC)6035 Savings Institution, Federally Chartered1
- SEC reviewing officeOffice of Finance, Division of Corporation Finance1
- Business address201 E. Cherry St, Watseka, IL 609701
- Phone(815) 432-24761
- Shares outstanding3,351,526 as of Feb 4, 202612
- Public float$56.1M as of Dec 31, 20244
- AuditorForvis Mazars, LLP, Decatur, Illinois PCAOB ID 686; no auditor attestation of internal control over financial reporting4
- On EDGAR sinceMar 9, 20111
- Filings438 in all: 8-K (124), 4 (94), SC 13G/A (49), 10-Q (45), 3 (16), 10-K (15), 11-K (14), DEF 14A (13)1
All 36 form types
SC 13D/A (11), SC 13G (8), CORRESP (4), SCHEDULE 13D/A (4), 4/A (3), S-8 (3), S-8 POS (3), SCHEDULE 13G/A (3), UPLOAD (3), 10-K/A (2), 424B3 (2), ARS (2), DEFA14A (2), DFAN14A (2), SC 13D (2), SCHEDULE 13G (2), 10-Q/A (1), 15-12G (1), 25-NSE (1), 5 (1), 8-A12B (1), CERTNAS (1), DEFM14A (1), EFFECT (1), PREM14A (1), S-1 (1), S-1/A (1), SE (1)
- Latest filingsAnnual report (10-K) Sep 11, 2025
Quarterly report (10-Q) Feb 12, 2026
Proxy statement (DEF 14A) Oct 16, 2024
Latest 8-K (8-K) Mar 13, 2026
Securities registered for trading
| Class | Symbol | Exchange |
|---|---|---|
| Common Stock, par value $0.01 per share | IROQ | The NASDAQ Stock Market, LLC |
From the cover page of the 10-K filed Sep 11, 2025 (Section 12(b) of the Exchange Act).4
Risk factors and legal proceedings
The risks IF Bancorp, Inc. names in Item 1A of its 10-K filed Sep 11, 2025: 21 risks under these headings, as written.4
- Operational Risks
- We intend to continue to grow our commercial real estate, multi-family and commercial business loans and increase these loans as a percentage of our total loan portfolio. As a result, our credit risk will continue to increase, and downturns in the local real estate market or economy could have a more severe adverse effect on our earnings.
- Our funding sources may prove insufficient to replace deposits and support our future growth.
- A portion of our loan portfolio consists of loan participations secured by properties outside of our primary market area. Loan participations may have a higher risk of loss than loans we originate because we are not the lead lender and we have limited control over credit monitoring.
- If our non-performing loans and other non-performing assets increase, or the value of our foreclosed assets decreases our earnings will decrease.
- If our allowance for credit losses is not sufficient to cover actual loan losses, our earnings will decrease.
- We are subject to stringent capital requirements, which may adversely impact our return on equity, require us to raise additional capital, or limit our ability to pay dividends or repurchase shares.
- We face significant operational risks because the financial services business involves a high volume of transactions.
- Cyber-attacks or other security breaches could adversely affect our operations, net income or reputation.
- Risks associated with system failures, interruptions, or breaches of security could negatively affect our earnings.
- While our Board of Directors takes an active role in cybersecurity risk tolerance, we rely to a large degree on management and outside consultants in overseeing cybersecurity risk management.
- Market and Industry Risks
The other 11 risks
- Future changes in interest rates could reduce our profits.
- Changes in economic conditions, in particular an economic slowdown in the markets we operate in, could materially and negatively affect our business.
- Inflation has had and may continue to have a negative effect on our results of operations and financial condition.
- Declines in the value of securities held in the investment portfolio may negatively affect the Company’s earnings, capital and liquidity.
- Monetary policies and regulations of the Federal Reserve Board could adversely affect our business, financial condition and results of operations.
- Interruption of our customers’ supply chains and federal funding could negatively impact their business and operations and impact their ability to repay their loans.
- Strong traditional and non-traditional competition within our market areas may limit our growth and profitability.
- Government responses to economic conditions may adversely affect our operations, financial condition and earnings.
- We operate in a highly regulated environment and may be adversely affected by changes in laws and regulations.
- Non-compliance with the USA PATRIOT Act, Bank Secrecy Act, or other laws and regulations could result in fines or sanctions.
- Legal and regulatory proceedings and related matters could adversely affect us.
Legal proceedings
Periodically, there have been various claims and lawsuits against us, such as claims to enforce liens, condemnation proceedings on properties in which we hold security interests, claims involving the making and servicing of real property loans and other issues incident to our business. We are not a party to any pending legal proceedings that we believe would have a material adverse effect on our financial condition, results of operations or cash flows.
The opening of Item 3, Legal Proceedings.4
Sources
The numbers on this page point here. Each one links to the record it came from.
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- 17SEC EDGARThomas J. Chamberlain, President
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- 21SEC EDGARTerry W. Acree, Vice President
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- 23SEC EDGARScott J. Dworschak, Board member
- 24SEC EDGARPamela J. Verkler, Board member
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- 26SEC EDGARRichard Stenzinger, Board member
- 27SEC EDGARArdith Heuton, Board member
- 28SEC EDGARDennis C. Wittenborn, Board member
- 29SEC EDGARFrank J. Simutis, Board member
- 30SEC EDGARJoseph A. Cowan, Board member
- 31SEC EDGARRodney E. Yergler, Board member
- 32SEC EDGARWayne A. Lehmann, Board member
- 33
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- 35SEC EDGAROther events
- 36SEC EDGARShareholder vote; Other events
- 37SEC EDGARResults of operations
- 38SEC EDGAROther events
- 39SEC EDGAROther events
- 40SEC EDGARResults of operations
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- 42SEC EDGARExecutive or director change
- 43SEC EDGAREntered a material agreement
- 44SEC EDGARResults of operations
- 45SEC EDGAROther events
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