Stilwell to vote in favor of proposal to sell IF Bancorp
Stilwell Activist Investments' Proposal: Stilwell Activist Investments, a major shareholder of IF Bancorp, plans to vote in favor of a non-binding proposal at the upcoming annual meeting on November 25, 2024, advocating for the sale of the company due to its chronic underperformance.
Call for Board Consideration: The proposal aims to prompt the Board of Directors to take necessary actions for a sale, reflecting shareholders' dissatisfaction with the company's asset returns and encouraging the Board to heed majority shareholder opinions if they support the proposal.
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IF Bancorp Reports Q2 2025 Financial Results
- Quarterly Net Income Growth: IF Bancorp reported unaudited net income of $1.3 million for Q2 2025, translating to $0.41 per share, up from $1.2 million and $0.38 per share in Q2 2024, indicating successful execution of its business plan and potentially boosting investor confidence.
- Interest Income and Expense Changes: The net interest income for Q2 2025 was $6.0 million, an increase from $5.0 million in Q2 2024, despite a decrease in interest income from $11.0 million to $10.5 million, while interest expense fell from $6.0 million to $4.6 million, reflecting effective cost control measures.
- Merger Transaction Progress: The merger with ServBanc is expected to close in Q1 2026, with a total transaction value of approximately $89.8 million, highlighting the company's strategic decision to expand market share and enhance competitiveness.
- Asset and Liability Status: As of December 31, 2025, total assets stood at $830.4 million, down from $887.7 million in June 2025, primarily due to a $59.3 million decrease in deposits from a public entity, indicating liquidity management challenges, while stockholders' equity rose to $87.4 million, reflecting improved profitability.
$HAREHOLDER NOTICE: M&A Class Action Firm Launches Investigation into IF Bancorp, Inc. (NASDAQ: IROQ)
Class Action Firm Recognition: Monteverde & Associates PC, led by attorney Juan Monteverde, is recognized as a Top 50 Firm in the 2024 ISS Securities Class Action Services Report and has successfully recovered millions for shareholders.
Investigation of IF Bancorp: The firm is currently investigating the sale of IF Bancorp, Inc. to ServBanc Holdco, Inc., where shareholders are set to receive $27.20 per share, raising questions about the fairness of the deal.
Free Consultation Offer: Monteverde & Associates offers free consultations for shareholders concerned about the transaction, emphasizing that there is no cost or obligation involved.
Firm's Track Record: The firm boasts a successful history in litigating class action cases, including appearances in trial and appellate courts, and encourages potential clients to inquire about their experience and past recoveries.
