IF Bancorp appoints Scott J. Dworschak to board of directors

IF Bancorp, Inc. (NASDAQ:IROQ), an $84 million market cap financial institution currently trading near its 52-week high of $26, announced that its board of directors appointed Scott J. Dworschak as a director, effective immediately. The appointment was made Wednesday. Mr. Dworschak was also named to the board of Iroquois Federal Savings and Loan Association, a wholly owned subsidiary of the company. According to InvestingPro data, the bank has maintained consistent dividend payments for 13 consecutive years.

Committee assignments for Mr. Dworschak have not yet been finalized, according to the company’s statement.

The company disclosed that Mr. Dworschak’s appointment is pursuant to a previously disclosed Standstill Agreement between IF Bancorp and Stilwell Activist Fund, L.P., Stilwell Activist Investments, L.P., Stilwell Partners, L.P., Stilwell Value LLC, Joseph Stilwell, and Mr. Dworschak.

The company stated that Mr. Dworschak is not a party to any transaction with IF Bancorp or Iroquois Federal Savings and Loan Association that would require disclosure under Item 404(a) of Securities and Exchange Commission Regulation S-K.

Mr. Dworschak will receive the standard compensation provided to non-employee directors, as outlined in the company’s proxy statement for its 2024 annual meeting, which was filed with the Securities and Exchange Commission on October 16, 2024.

This information is based on a press release statement included in the company’s recent SEC filing.

In other recent news, IF Bancorp, Inc. has announced a cash dividend of $0.20 per common share. The dividend is set to be paid on October 17, 2025, to stockholders who are on record as of September 26, 2025. This development follows the company’s agreement with Stilwell Activist Fund, L.P., and related entities, which includes the appointment of Scott J. Dworschak to the boards of IF Bancorp and its subsidiary, Iroquois Federal Savings and Loan Association. Mr. Dworschak will serve as a director until the 2026 annual meeting of stockholders. Should Mr. Dworschak be unable to fulfill his role, a replacement will be selected by the Stilwell Group. The agreement is effective until March 31, 2026, or until the closing of a company transaction as outlined in the agreement. These recent developments highlight ongoing strategic decisions by IF Bancorp’s leadership and board.

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