Iroquois Federal ESOP Trust Holds 9.9% of IF Bancorp (IFBC)

TL;DR

**Iroquois Federal ESOP Trust now owns 9.9% of IF Bancorp, showing strong insider commitment.**

AI Summary

The Iroquois Federal Savings and Loan Association Employee Stock Ownership Plan Trust has updated its ownership stake in IF Bancorp, Inc. (IFBC) as of December 31, 2023. The Trust now beneficially owns a total of 327,700 shares of IFBC's common stock, representing 9.9% of the company. This includes 153,960 shares with sole voting power and 173,740 shares with shared voting power. This matters to investors because it shows a significant, stable institutional holding by an employee-related trust, which can indicate long-term commitment and alignment of interests.

Why It Matters

This filing indicates a significant, stable ownership stake by an employee stock ownership plan, which often signals long-term commitment and alignment of employee interests with shareholder value.

Risk Assessment

Risk Level: low — This filing indicates a stable, long-term institutional holding by an employee trust, which generally reduces volatility and risk.

Analyst Insight

Investors should note the stable, significant institutional ownership by the ESOP Trust, which suggests long-term alignment of employee interests with company performance. This could be a positive indicator for long-term holders, but doesn't suggest immediate price catalysts.

Key Numbers

• 327,700 — Total Shares Beneficially Owned (Represents the total common stock shares of IF Bancorp, Inc. held by the Iroquois Federal Savings and Loan Association Employee Stock Ownership Plan Trust as of December 31, 2023.)
• 9.9% — Percentage of Class Owned (Indicates the significant stake the ESOP Trust holds in IF Bancorp, Inc., showing a substantial institutional investment.)
• 153,960 — Shares with Sole Voting Power (Shows the portion of shares over which the ESOP Trust has exclusive voting control.)
• 173,740 — Shares with Shared Voting Power (Indicates the portion of shares where the ESOP Trust shares voting control with other entities or individuals.)

Key Players & Entities

• Iroquois Federal Savings and Loan Association Employee Stock Ownership Plan Trust (company) — the reporting person beneficially owning shares of IF Bancorp, Inc.
• IF Bancorp, Inc. (company) — the issuer of the common stock
• Illinois (company) — place of organization for the reporting person
• December 31, 2023 (date) — date of event requiring the filing
• 327,700 (dollar_amount) — total shares beneficially owned by the Trust
• 9.9% (dollar_amount) — percentage of class beneficially owned by the Trust
• 153,960 (dollar_amount) — shares with sole voting power held by the Trust
• 173,740 (dollar_amount) — shares with shared voting power held by the Trust

Forward-Looking Statements

• The Iroquois Federal Savings and Loan Association Employee Stock Ownership Plan Trust will maintain a significant ownership stake in IF Bancorp, Inc. (Iroquois Federal Savings and Loan Association Employee Stock Ownership Plan Trust) — high confidence, target: December 31, 2024
• The stable institutional ownership by the ESOP Trust will contribute to long-term stability in IF Bancorp's stock price. (IF Bancorp, Inc.) — medium confidence, target: December 31, 2024

FAQ

Key Financial Figures

• $0.01 — ame of Issuer) Common Stock, par value $0.01 per share (Title of Class of Securiti

Filing Documents

• sc13g-a_2023.htm (SC 13G/A) — 37KB
• 0000943374-24-000017.txt ( ) — 38KB

From the Filing

SC 13G/A 1 sc13g-a_2023.htm IF BANCORP, INC. SCHEDULE 13G (AMENDMENT 13) DECEMBER 13, 2023 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13G Under the Securities Exchange Act of 1934 (Amendment 13) * IF Bancorp, Inc. (Name of Issuer) Common Stock, par value $0.01 per share (Title of Class of Securities) 44951J 105 (CUSIP Number) December 31, 2023 (Date of Event Which Requires Filing of This Statement) Check the appropriate box to designate the rule pursuant to which this Schedule is filed: Rule 13d-1(b) Rule 13d-1(c) Rule 13d-1(d) * The remainder of this cover page shall be filled out for a reporting person's initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page. The information required in the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes). Page 1 of 5 Pages CUSIP NO. 44951J 105 13G Page 2 of 5 Pages 1 Names of Reporting Persons Iroquois Federal Savings and Loan Association Employee Stock Ownership Plan Trust 2 Check the Appropriate Box if a Member of a Group (See Instructions) (a) (b) 3 SEC Use Only 4 Citizenship or Place of Organization Illinois Number of Shares Beneficially Owned by Each Reporting Person With: 5 Sole Voting Power 153,960 6 Shared Voting Power 173,740 7 Sole Dispositive Power 312,453 8 Shared Dispositive Power 15,247 9 Aggregate Amount Beneficially Owned by Each Reporting Person 327,700 10 Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) 11 Percent of Class Represented by Amount in Row 9 9.8% of 3,354,626 shares of Common Stock outstanding as of December 31, 2023. 12 Type of Reporting Person (See Instructions) EP CUSIP NO. 44951J 105 13G Page 3 of 5 Pages Item 1 (a) Name of Issuer IF Bancorp, Inc. (b) Address of Issuer's Principal Executive Offices 201 E. Cherry Street Watseka, Illinois 60970 Item 2 (a) Name of Person Filing Iroquois Federal Savings and Loan Association Employee Stock Ownership Plan Trust Trustee: First Trust of MidAmerica Services provided by Community Bank of Pleasant Hill (b) Address of Principal Business Office 3500 N Village Dr. Suite 220 St. Joseph, Missouri 64506 (c) Citizenship or Place of Organization See Page 2, Item 4. (d) Title of Class of Securities Common Stock, par value $0.01 per share (e) CUSIP Number See Page 1. Item 3. If this statement is filed pursuant to 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a: (f) An employee benefit plan or endowment fund in accordance with 240.13d-1(b)(1)(ii)(F). CUSIP NO. 44951J 105 13G Page 4 of 5 Pages Item 4. Provide the following information regarding the aggregate number and percentage of the class of securities of the issuer identified in Item 1. (a) Amount beneficially owned: See Page 2, Item 9. (b) Percent of class: See Page 2, Item 11. (c) Number of shares as to which the person has: (i) Sole power to vote or to direct the vote: See Page 2, Item 5. (ii) Shared power to vote or to direct the vote: See Page 2, Item 6. (iii) Sole power to dispose or to direct the disposition of: See Page 2, Item 7. (iv) Shared power to dispose or to direct the disposition of: See Page 2, Item 8. Item 5. Not applicable Item 6. Not applicable Item 7. Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person Not applicable Item 8. Identification and Classification of Members of the Group The reporting person is an employee benefit plan subject to the provisions of the Employee Retirement Income Security Act of 1974. Item 9. Notice of Dissolution of Group Not applicable Item 10. Certification By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under 240.14a-11. CUSIP NO. 44951J 105 13G Page 5 of 5 Pages SIGNATURE After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct. IROQUOIS FEDERAL SAVINGS AND LOAN ASSOCIATION EMPLOYEE STOCK OWNERSHIP PLAN TRUST Date: January 24, 20

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