secwatch.observer — SEC 8-K summary
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Issuer:     IF Bancorp, Inc. (—)
CIK:        0001514743
Form:       8-K
Filed at:   2024-04-30T23:59:59+00:00
Accession:  0000943374-24-000167
Event type: earnings
Sentiment:  negative
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

IF Bancorp Q3 net income $708K flat; 9-month net income down 66% to $1.4M
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- Q3 net income $708K ($0.22/sh) vs $690K ($0.22/sh) a year ago; nine-month net income $1.4M ($0.42/sh) down from $4.1M ($1.29/sh).
- Net interest income fell to $4.3M in Q3 from $5.0M; nine-month $13.2M vs $17.3M, pressured by higher deposit costs.
- Interest expense surged to $6.5M in Q3 from $3.2M; total borrowings rose to $139.5M from $30.3M at June 30, 2023.
- Deposits decreased to $681.8M from $735.3M; $62.1M in public entity tax deposits were withdrawn.
- Credit for credit losses of $(390K) in Q3 vs provision $240K prior year; net loan portfolio grew to $643.3M.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1514743/000094337424000167/0000943374-24-000167-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1514743/000094337424000167/form8k.htm
  HTML page:      https://secwatch.observer/filing/0000943374-24-000167

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