IF Bancorp, Inc. Files 10-Q for Period Ending December 31, 2023

TL;DR

<b>IF Bancorp, Inc. filed its Q2 10-Q report, detailing financial performance and share price changes through December 31, 2023.</b>

AI Summary

IF Bancorp, Inc. (IROQ) filed a Quarterly Report (10-Q) with the SEC on February 12, 2024. IF Bancorp, Inc. filed a 10-Q report for the period ending December 31, 2023. The filing covers the second quarter of the fiscal year. The company's fiscal year ends on June 30. The closing share price on December 31, 2023, was $16.03. The closing share price on June 30, 2023, was $14.44.

Why It Matters

For investors and stakeholders tracking IF Bancorp, Inc., this filing contains several important signals. This 10-Q filing provides investors with updated financial statements and disclosures for IF Bancorp, Inc. for the second quarter of fiscal year 2024, allowing for an assessment of the company's performance and financial health. The report includes specific share price data for December 31, 2023 ($16.03) and June 30, 2023 ($14.44), which can be used to evaluate stock performance and investor sentiment over the period.

Risk Assessment

Risk Level: low — IF Bancorp, Inc. shows low risk based on this filing. The filing is a routine 10-Q, indicating standard financial reporting without immediate red flags.

Analyst Insight

Monitor future filings for trends in loan portfolio performance and interest income.

Key Numbers

• 2023-12-31 — Reporting Period End Date (End date of the reporting period for the 10-Q)
• 2024-02-12 — Filing Date (Date the 10-Q was filed)
• 2023-06-30 — Fiscal Year End (End date of IF Bancorp, Inc.'s fiscal year)
• $16.03 — Share Price (12/31/2023) (Closing share price on December 31, 2023)
• $14.44 — Share Price (06/30/2023) (Closing share price on June 30, 2023)

Key Players & Entities

• IF Bancorp, Inc. (company) — Filer of the 10-Q report
• 201 E. Cherry St (address) — Business and mailing address of IF Bancorp, Inc.
• Watseka, IL (location) — City and State of IF Bancorp, Inc.'s address
• $16.03 (dollar_amount) — Closing share price on December 31, 2023
• $14.44 (dollar_amount) — Closing share price on June 30, 2023

Forward-Looking Statements

• IF Bancorp's stock price will continue its upward trend in the short term. (IF Bancorp, Inc.) — medium confidence, target: 2024-06-30

FAQ

Industry Context

IF Bancorp, Inc. operates as a savings institution, federally chartered, within the financial services sector.

Regulatory Implications

The filing is made under the Securities Exchange Act of 1934, requiring regular disclosures from public companies.

What Investors Should Do

1. Review the full 10-Q for detailed financial statements and management discussion.
2. Compare the reported share prices to market trends during the respective periods.
3. Note the fiscal year end of June 30 for future reporting cycle analysis.

Key Dates

• 2023-12-31: Period End Date — End of the reporting quarter for the 10-Q filing.
• 2024-02-12: Filing Date — Date IF Bancorp, Inc. submitted its 10-Q to the SEC.

Year-Over-Year Comparison

This is the 10-Q filing for the period ending December 31, 2023, following previous filings for earlier periods.

Key Financial Figures

• $0.01 — ge on which registered Common Stock , $0.01 par value IROQ The Nasdaq Stock Mark

Filing Documents

• d745608d10q.htm (10-Q) — 2412KB
• d745608dex311.htm (EX-31.1) — 11KB
• d745608dex312.htm (EX-31.2) — 11KB
• d745608dex32.htm (EX-32) — 6KB
• 0001193125-24-031408.txt (&nbsp;) — 11879KB
• iroq-20231231.xsd (EX-101.SCH) — 54KB
• iroq-20231231_cal.xml (EX-101.CAL) — 56KB
• iroq-20231231_def.xml (EX-101.DEF) — 296KB
• iroq-20231231_lab.xml (EX-101.LAB) — 496KB
• iroq-20231231_pre.xml (EX-101.PRE) — 438KB
• d745608d10q_htm.xml (XML) — 3059KB

Financial Information

Part I. Financial Information Item 1. Condensed Consolidated Financial Statements 1 Condensed Consolidated Balance Sheets as of December 31, 2023 (unaudited) and June 30, 2023 1 Condensed Consolidated Statements of Income for the Three Months and Six Months Ended December 31, 2023 and 2022 (unaudited) 2 Condensed Consolidated Statements of Comprehensive Income (Loss) for the Three Months and Six Months Ended December 31, 2023 and 2022 (unaudited) 3 Condensed Consolidated Statements of Stockholders' Equity for the Three and Six Months Ended December 31, 2023 and 2022 (unaudited) 4 Condensed Consolidated Statements of Cash Flows for the Six Months Ended December 31, 2023 and 2022 (unaudited) 6 Notes to Condensed Consolidated Financial Statements (unaudited) 7 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 38 Item 3.

Quantitative and Qualitative Disclosures about Market Risk

Quantitative and Qualitative Disclosures about Market Risk 52 Item 4.

Controls and Procedures

Controls and Procedures 52

Other Information

Part II. Other Information Item 1.

Legal Proceedings

Legal Proceedings 53 Item 1A.

Risk Factors

Risk Factors 53 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 53 Item 3. Defaults upon Senior Securities 53 Item 4. Mine Safety Disclosures 53 Item 5. Other Information 53 Item 6. Exhibits 54 Signature Page 55 Table of Contents

– Financial Information

Part I. – Financial Information Item1. Condensed Consolidated Financial Statements IF Bancorp, Inc. Condensed Consolidated Balance Sheets (Dollars in thousands, except per share amount) December 31, June 30, 2023 2023 (Unaudited) Assets Cash and due from banks $ 7,871 $ 10,717 Interest-bearing demand deposits 298 271 Cash and cash equivalents 8,169 10,988 Interest-bearing time deposits in banks 750 1,250 Available-for-sale securities 199,930 201,299 Loans, net of allowance for credit losses of $ 7,935 and $ 7,139 at December 31, 2023 and June 30, 2023, respectively 653,549 587,457 Premises and equipment, net of accumulated depreciation of $ 9,493 and $ 9,212 at December 31, 2023 and June 30, 2023, respectively 10,854 11,092 Federal Home Loan Bank stock, at cost 5,419 3,127 Foreclosed assets held for sale 7 31 Accrued interest receivable 3,758 2,781 Bank-owned life insurance 14,967 14,761 Mortgage servicing rights 1,410 1,482 Deferred income taxes 10,309 11,037 Other 1,661 3,671 Total assets $ 910,783 $ 848,976 Liabilities and Equity Liabilities Deposits Demand $ 45,433 $ 107,567 Savings, NOW and money market 314,547 344,151 Certificates of deposit 286,103 264,058 Brokered certificates of deposit 31,962 19,538 Total deposits 678,045 735,314 Repurchase agreements 16,040 10,787 Federal Home Loan Bank advances 98,050 19,500 Other borrowings 34,375 — Advances from borrowers for taxes and insurance 1,235 1,233 Accrued post-retirement benefit obligation 2,442 2,431 Accrued interest payable 2,849 1,666 Allowance for credit losses on off-balance sheet credit exposures 56 216 Other 3,950 6,076 Total liabilities 837,042 777,223 Commitments and Contingencies Stockholders' Equity Common stock, $ .01 par value per share, 100,000,000 shares authorized, 3,354,626 shares issued and outstanding at both December 3

View Full Filing

View this 10-Q filing on SEC EDGAR