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IF Bancorp (IROQ) Company Profile

Updated Mar 8, 2019
IF Bancorp has the following business profile:
Company's Full Name:IF Bancorp, Inc.
Short Name:IF Bancorp
Trading Ticker Symbol:IROQ
Primary Exchange:NASDAQ
Headquarter City/Country:Illinois, IL
Primary Industry Sector:Finance
Seconday Sub-sector:Savings Institutions
Main Business Areas: Finance, Savings Institutions, Financial Services, Savings & Cooperative Banks
Dividend Payments:Dividend History

Market and Trading Information for IF Bancorp

The following details were available for trading and market data about the stock of IF Bancorp as of writing:
Current Share Price:$20.32
Previous Year's Closing Price:$20.12
Percentage Price Change (YTD):0.99%
Market Cap:$68.36 million
52-week Price Range:$18.7 - $25.04
Dividend Per Share:$0.23
EPS (TTM):0.87
Price-Earnings (Trailing):23.33
Price-Earnings (Forward):0

Company Profile and Business Description for IF Bancorp

IF Bancorp, Inc., incorporated on March 4, 2011, is the holding company for Iroquois Federal Savings and Loan Association (Iroquois Federal). The Company is primarily engaged in the business of directing, planning and coordinating the business activities of Iroquois Federal. Iroquois Federal is a federally chartered savings association. Its business consists primarily of taking deposits from the public and investing those deposits, together with funds generated from operations and borrowings, in a range of loans.

The Company offers alternative delivery channels, including automated teller machines (ATMs), online banking and bill pay, mobile banking with mobile deposit and bill pay, automated clearing house (ACH) origination, remote deposit capture and telephone banking. The Company also offers annuities, mutual funds, individual and group retirement plans, life, disability and health insurance, individual securities, managed accounts and other financial services at all of its locations through Iroquois Financial, a division of Iroquois Federal. Raymond James Financial Services, Inc. serves as the broker-dealer for Iroquois Financial. The Company conducts its operations from its banking offices located in the municipalities of Watseka, Danville, Clifton, Hoopeston and Savoy, Illinois and its loan production and wealth management office in Osage Beach, Missouri. The Company's primary lending market includes the Illinois counties of Vermilion, Iroquois and Champaign, as well as the adjacent counties in Illinois and Indiana. The Company's loan production and wealth management office in Osage Beach, Missouri, serves the Missouri counties of Camden, Miller and Morgan.

Lending Activities

The Company's principal lending activity is the origination of one- to four-family residential mortgage loans, multi-family loans, commercial real estate loans (including farm loans), home equity loans and lines of credit, commercial business loans, consumer loans (consisting primarily of automobile loans), and construction loans and land development loans. In addition to loans originated by Iroquois Federal, the Company's loan portfolio includes loan purchases, which are secured by single-family homes located primarily in the Midwest. Its loan portfolio also includes commercial loan participations, which are secured by both real estate and other business assets. As of June 30, 2016, the Company's total loans amounted to $443.7 million.

Investment Activity

The Company invests only in investment securities, including the United States Treasury or Government guaranteed securities, the United States Government agency securities, securities issued or guaranteed by the Federal National Mortgage Association (Fannie Mae), the Federal Home Loan Mortgage Corporation (Freddie Mac) and the Government National Mortgage Association (Ginnie Mae), bank-qualified municipal securities, bank-qualified money market instruments, and bank-qualified corporate bonds. The Company invests in mortgage-backed securities issued or guaranteed by United States government-sponsored enterprises. The Company also invests in municipal obligations. As of June 30, 2016, the Company's investment securities portfolio amounted to $117.04 million.

Sources of Funds

Deposits are the Company's primary source of funds for its lending and investment activities. The Company borrows from the Federal Home Loan Bank of Chicago, to supplement cash flow needs, to lengthen the maturities of liabilities for interest rate risk management purposes and to manage its cost of funds. The Company's additional sources of funds are the proceeds from the sale of loans originated for sale, scheduled loan payments, maturing investments, loan prepayments, retained earnings and income on other earning assets. The Company generates deposits primarily from the areas in which its branch offices are located. The Company offers a range of deposit accounts, including savings accounts, certificates of deposit, money market accounts, commercial and personal checking accounts, individual retirement accounts and health savings accounts. As of June 30, 2016, the Company's total deposits amounted to $415.8 million.

Subsidiary Activity

The Company offers a line of property and casualty insurance products through Iroquois Federal's subsidiary, L.C.I. Service Corporation, doing business as, Iroquois Insurance Agency. Iroquois Insurance Agency is an insurance agency with offices in Watseka and Danville, Illinois.

201 E Cherry St

Peer / Competitor Companies of Savings Institutions Sector

Along with IF Bancorp, Inc., the following other peer (competitor) companies also exist within the same Savings Institutions - Finance sector whose company profile and dividend history is as follows:

▶ 1st Constitution Bancorp NJ (FCCY): 1st Constitution Bancorp operates as the bank holding company for 1st Constitution Bank that provides commercial and retail banking services in the central and northeastern New Jersey areas. The compa....See Detailed Company Profile  and Dividend History.

▶ Access National (ANCX): Access National Corporation, incorporated on May 12, 2003, is a bank holding company. The Company operates through its subsidiary, Access National Bank (the Bank). The Bank provides credit, deposit, mortgage ....See Detailed Company Profile  and Dividend History.

▶ ASB Bancorp (ASBB): ASB Bancorp, Inc., incorporated on May 12, 2011, is the holding company for Asheville Savings Bank (the Bank). The Companys principal business activity is the ownership of the outstanding shares ....See Detailed Company Profile  and Dividend History.

▶ Astoria Financial (AF): Astoria Financial Corporation, incorporated on June 14, 1993, is a unitary savings and loan holding company. The Companys principal business is the operation of its subsidiary, Astoria Bank. Astoria Banks ....See Detailed Company Profile  and Dividend History.

▶ Atlantic Coast Financial (ACFC): Atlantic Coast Financial Corporation, incorporated on June 22, 2007, is a thrift holding company. The Company, through its subsidiary, Atlantic Coast Bank (the Bank), a federally chartered and insured stock ....See Detailed Company Profile  and Dividend History.

▶ Bancorp 34 (BCTF): Bancorp 34, Inc. operates as the holding company for Bank 34 that offers various banking services to individuals and businesses in the United States. It accepts various deposit products, such as savin....See Detailed Company Profile  and Dividend History.

▶ Bank Mutual (BKMU): Bank Mutual Corporation, incorporated on April 28, 2003, is a savings and loan holding company. The Company owns Bank Mutual (the Bank), a federally-chartered savings bank. The Bank is engaged ....See Detailed Company Profile  and Dividend History.

▶ BankFinancial (BFIN): BankFinancial Corporation, incorporated on September 23, 2004, is the bank holding company for BankFinancial, National Association (the Bank). The Bank is a full-service, community-oriented national bank principally engaged in the ....See Detailed Company Profile  and Dividend History.

▶ BankUnited (BKU): BankUnited, Inc. operates as the bank holding company for BankUnited, National Association that provides a range of banking services to small and medium sized businesses, and individual and corporate ....See Detailed Company Profile  and Dividend History.

▶ BCB Bancorp NJ (BCBP): BCB Bancorp, Inc. operates as the holding company for BCB Community Bank, a state chartered commercial bank that provides banking products and services to businesses and individuals in the United Stat....See Detailed Company Profile  and Dividend History.

▶ Beneficial Bancorp (BNCL): Beneficial Bancorp, Inc., together with its subsidiaries, provides consumer and commercial banking services to individuals, businesses, and nonprofit organizations in Philadelphia and Southern New Jer....See Detailed Company Profile  and Dividend History.

▶ BofI Holding (BOFI): BofI Holding, Inc. (BofI), incorporated on July 6, 1999, is the holding company for BofI Federal Bank (the Bank). The Bank is a diversified financial services company. The Bank provides ....See Detailed Company Profile  and Dividend History.

▶ BofI Holding (BOFIL): BofI Holding, Inc. (BofI), incorporated on July 6, 1999, is the holding company for BofI Federal Bank (the Bank). The Bank is a diversified financial services company. The Bank provides ....See Detailed Company Profile  and Dividend History.

▶ Broadway Financial (BYFC): Broadway Financial Corporation, incorporated on October 25, 1995, is a savings and loan holding company. The Company is engaged in the savings and loan business through its subsidiary, Broadway Federal ....See Detailed Company Profile  and Dividend History.

▶ Brookline Bancorp (BRKL): Brookline Bancorp, Inc., incorporated on April 11, 2002, operates as a multi-bank holding company for Brookline Bank and its subsidiaries; Bank Rhode Island (BankRI) and its subsidiaries; First Ipswich Bank ....See Detailed Company Profile  and Dividend History.

▶ Capitol Federal Financial (CFFN): Capitol Federal Financial, Inc., incorporated on April 28, 2010, is the savings and loan holding company. The Company provides a range of retail banking services, through its subsidiary, Capitol Federal ....See Detailed Company Profile  and Dividend History.

▶ Carver Bancorp (CARV): Carver Bancorp, Inc. operates as a holding company for Carver Federal Savings Bank, a federally chartered savings bank that provides consumer and commercial banking services for consumers, businesses,....See Detailed Company Profile  and Dividend History.

▶ Central Federal (CFBK): Central Federal Corporation operates as the bank holding company for CFBank that provides various financial services in the United States. The company accepts savings, retail and business checking, an....See Detailed Company Profile  and Dividend History.

▶ Charter Financial (CHFN): Charter Financial Corporation, incorporated on February 16, 1993, is a savings and loan holding company for CharterBank (the Bank). The Bank is a federally-chartered savings bank. The Banks principal business ....See Detailed Company Profile  and Dividend History.

▶ Citizens Community Bancorp (CZWI): Citizens Community Bancorp, Inc., incorporated on June 27, 2006, is a bank holding company of Citizens Community Federal N.A. (the Bank). The Company is engaged in consumer, commercial and agricultural ....See Detailed Company Profile  and Dividend History.

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