IF Bancorp enters agreement with Stilwell Group, appoints new board member

IF Bancorp, Inc. (NASDAQ:IROQ), a financial institution with a market capitalization of $82.71 million and impressive one-year returns of nearly 39%, announced Tuesday that it has entered into an agreement with Stilwell Activist Fund, L.P., its related entities, and Scott J. Dworschak. According to InvestingPro data, the company’s stock is trading near its 52-week high of $25.97. Under the terms of the agreement, Mr. Dworschak will be appointed to the boards of directors of both IF Bancorp and its wholly owned banking subsidiary, Iroquois Federal Savings and Loan Association. He will serve in the class of directors whose term expires at the company’s 2026 annual meeting of stockholders.

If Mr. Dworschak is unable to serve, a replacement chosen by the Stilwell Group will be appointed to the boards. The agreement remains in effect until March 31, 2026, or until the closing of a company transaction as defined in the agreement. For more detailed analysis and additional insights about IF Bancorp’s financial health and growth prospects, visit InvestingPro, which offers exclusive tips and comprehensive financial metrics.

The agreement also states that, after March 31, 2026, if IF Bancorp has not substantially implemented matters approved by stockholders at the November 2024 annual meeting, and upon request by the Stilwell Group, the company will appoint an additional Stilwell nominee to the boards for a term expiring at the 2027 annual meeting.

During the term of the agreement, the Stilwell Group and its members have agreed not to acquire additional shares of IF Bancorp, propose or seek company transactions such as sales or mergers, solicit proxies against board recommendations, or engage in other activities that would influence management or board decisions. Mr. Dworschak has agreed to similar restrictions.

This information is based on a statement in a press release filed with the Securities and Exchange Commission.

In other recent news, IF Bancorp, Inc., the holding company for Iroquois Federal Savings and Loan Association, has announced a cash dividend of $0.20 per common share. This decision was made by the company’s Board of Directors and is set to benefit shareholders on record as of September 26, 2025. The dividend payment is scheduled for October 17, 2025. These developments reflect the company’s ongoing financial strategies and decisions. The announcement comes as part of IF Bancorp’s recent updates to its shareholders. Investors may find this news relevant as it impacts the company’s financial distribution to its shareholders.

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