IF Bancorp Inc. posts Q1 net income of $1.4 million

IF Bancorp Inc. reported unaudited net income of $1.4 million, or $0.43 per basic and diluted share, for the three months ended September 30, 2025, up from $0.6 million, or $0.20 per share, for the same period in 2024. Net interest income increased to $6.2 million from $4.8 million. Interest income totaled $11.1 million, rising from $10.9 million, while interest expense decreased to $4.9 million from $6.1 million. The company recorded a credit to its provision for credit losses of $0.04 million, compared to a provision of $0.4 million in the prior year period. Noninterest income decreased to $1.1 million from $1.4 million, and noninterest expense rose to $5.5 million from $5.0 million. Income tax expense was $0.5 million, compared to $0.2 million the year before. Total assets were $862.3 million at September 30, 2025, down from $887.7 million at June 30, 2025. Deposits decreased to $680.3 million from $721.3 million, largely due to the withdrawal of approximately $59.3 million in public entity deposits related to real estate tax distributions. Total borrowings increased to $87.3 million from $72.9 million. Stockholders’ equity rose to $84.5 million from $81.8 million, primarily due to a decrease in accumulated other comprehensive loss, net income, and equity plan activity, partially offset by dividend accruals. During the period, IF Bancorp announced a strategic alliance with ServBank. Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. IF Bancorp Inc. published the original content used to generate this news brief via Business Wire (Ref. ID: 20251031048347) on October 31, 2025, and is solely responsible for the information contained therein. © Copyright 2025 - Public Technologies (PUBT)