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IF Bancorp

Nasdaq:IROQ
Snowflake Description

Flawless balance sheet with questionable track record.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
IROQ
Nasdaq
$51M
Market Cap
  1. Home
  2. US
  3. Banks
Company description

IF Bancorp, Inc. operates as the savings and loan holding company for Iroquois Federal Savings and Loan Association that provides a range of banking and financial services to individual and corporate clients. The last earnings update was 60 days ago. More info.


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IROQ Share Price and Events
7 Day Returns
-2.5%
NasdaqCM:IROQ
-15.1%
US Mortgage
-3.8%
US Market
1 Year Returns
-22%
NasdaqCM:IROQ
-37.9%
US Mortgage
-15.9%
US Market
IROQ Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
IF Bancorp (IROQ) -2.5% -25.3% -31.7% -22% -21.2% -6.6%
US Mortgage -15.1% -37.2% -42.5% -37.9% -35% -23%
US Market -3.8% -17.4% -24.1% -15.9% 2.8% 13.5%
1 Year Return vs Industry and Market
  • IROQ outperformed the Mortgage industry which returned -37.9% over the past year.
  • IROQ underperformed the Market in United States of America which returned -15.9% over the past year.
Price Volatility
IROQ
Industry
5yr Volatility vs Market

IROQ Value

 Is IF Bancorp undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of IF Bancorp to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for IF Bancorp.

NasdaqCM:IROQ Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model Excess Returns Model
Stable EPS Median Return on Equity from the past 5 years.
= Stable Book Value * Return on Equity
= $22.69 * 4.4%
$0.99
Book Value of Equity per Share Median Book Value from the past 5 years. $22.69
Discount Rate (Cost of Equity) See below 7.2%
Perpetual Growth Rate 10-Year US Government Bond Rate 1.7%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for NasdaqCM:IROQ
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year US Govt Bond Rate 1.7%
Equity Risk Premium S&P Global 5.4%
Mortgage Unlevered Beta Simply Wall St/ S&P Global 0.61
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.605 (1 + (1- 21%) (82.28%))
0.999
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 1.74% + (0.999 * 5.44%)
7.18%

Discounted Cash Flow Calculation for NasdaqCM:IROQ using Excess Returns Model Model

The calculations below outline how an intrinsic value for IF Bancorp is arrived at using the Excess Return Model. This approach is used for finance firms where free cash flow is difficult to estimate.

In the Excess Return Model the value of a firm can be written as the sum of capital invested currently in the firm and the present value of excess returns that the firm expects to make in the future.

The model is sensitive to the Return on Equity of the company versus the Cost of Equity, how these are calculated is detailed below the main calculation.

Note the calculations below are per share.

See our documentation to learn about this calculation.

NasdaqCM:IROQ Value of Excess Returns
Calculation Result
Excess Returns = (Stable Return on equity – Cost of equity) (Book Value of Equity per share)
= (4.4% – 7.18%) * $22.69)
$-0.64
Terminal Value of Excess Returns = Excess Returns / (Cost of Equity - Expected Growth Rate)
= $-0.64 / (7.18% - 1.74%)
$-11.77
Value of Equity = Book Value per share + Terminal Value of Excess Returns
= $22.69 + $-11.77
$10.92
NasdaqCM:IROQ Discount to Share Price
Calculation Result
Value per share (USD) From above. $10.92
Current discount Discount to share price of $15.60
= -1 x ($15.60 - $10.92) / $10.92
-42.8%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

  • The current share price of IF Bancorp is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for IF Bancorp's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are IF Bancorp's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
NasdaqCM:IROQ PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-12-31) in USD $1.19
NasdaqCM:IROQ Share Price ** NasdaqCM (2020-04-06) in USD $15.6
United States of America Mortgage Industry PE Ratio Median Figure of 120 Publicly-Listed Mortgage Companies 10.16x
United States of America Market PE Ratio Median Figure of 2,947 Publicly-Listed Companies 12.21x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of IF Bancorp.

NasdaqCM:IROQ PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= NasdaqCM:IROQ Share Price ÷ EPS (both in USD)

= 15.6 ÷ 1.19

13.05x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • IF Bancorp is overvalued based on earnings compared to the US Mortgage industry average.
  • IF Bancorp is overvalued based on earnings compared to the United States of America market.
Price based on expected Growth
Does IF Bancorp's expected growth come at a high price?
Raw Data
NasdaqCM:IROQ PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 13.05x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts
Not available
United States of America Mortgage Industry PEG Ratio Median Figure of 46 Publicly-Listed Mortgage Companies -0.15x
United States of America Market PEG Ratio Median Figure of 2,010 Publicly-Listed Companies 0.88x

*Line of best fit is calculated by linear regression .

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to calculate PEG ratio for IF Bancorp, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on IF Bancorp's assets?
Raw Data
NasdaqCM:IROQ PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-12-31) in USD $23.82
NasdaqCM:IROQ Share Price * NasdaqCM (2020-04-06) in USD $15.6
United States of America Mortgage Industry PB Ratio Median Figure of 132 Publicly-Listed Mortgage Companies 0.75x
United States of America Market PB Ratio Median Figure of 5,148 Publicly-Listed Companies 1.2x
NasdaqCM:IROQ PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= NasdaqCM:IROQ Share Price ÷ Book Value per Share (both in USD)

= 15.6 ÷ 23.82

0.65x

* Primary Listing of IF Bancorp.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • IF Bancorp is good value based on assets compared to the US Mortgage industry average.
X
Value checks
We assess IF Bancorp's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Mortgage industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Mortgage industry average (and greater than 0)? (1 check)
  5. IF Bancorp has a total score of 1/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

IROQ Future Performance

 How is IF Bancorp expected to perform in the next 1 to 3 years based on estimates from 0 analysts?

In this section we usually present revenue and earnings growth projections based on the consensus estimates of professional analysts to help investors understand the company’s ability to generate profit. But as IF Bancorp has not provided enough past data and has no analyst forecast, its future earnings cannot be reliably calculated by extrapolating past data or using analyst predictions.

This is quite a rare situation as 97% of companies covered by Simply Wall St do have past financial data. You can see them here.

Show me the analysis anyway

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
1.9%
Expected Mortgage industry annual growth in earnings.
Earnings growth vs Low Risk Savings
Is IF Bancorp expected to grow at an attractive rate?
  • Unable to compare IF Bancorp's earnings growth to the low risk savings rate as no estimate data is available.
Growth vs Market Checks
  • Unable to compare IF Bancorp's earnings growth to the United States of America market average as no estimate data is available.
  • Unable to compare IF Bancorp's revenue growth to the United States of America market average as no estimate data is available.
Annual Growth Rates Comparison
Raw Data
NasdaqCM:IROQ Future Growth Rates Data Sources
Data Point Source Value (per year)
United States of America Mortgage Industry Earnings Growth Rate Market Cap Weighted Average 1.9%
United States of America Mortgage Industry Revenue Growth Rate Market Cap Weighted Average 1.2%
United States of America Market Earnings Growth Rate Market Cap Weighted Average 13.4%
United States of America Market Revenue Growth Rate Market Cap Weighted Average 7%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
NasdaqCM:IROQ Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
NasdaqCM:IROQ Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2019-12-31 22 7 4
2019-09-30 22 8 4
2019-06-30 22 6 4
2019-03-31 21 7 3
2018-12-31 21 6 3
2018-09-30 21 5 2
2018-06-30 21 5 2
2018-03-31 20 3 2
2017-12-31 20 4 2
2017-09-30 20 5 4
2017-06-30 21 6 4
2017-03-31 21 6 4

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Unable to determine if IF Bancorp is high growth as no earnings estimate data is available.
  • Unable to determine if IF Bancorp is high growth as no revenue estimate data is available.
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
NasdaqCM:IROQ Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below

All data from IF Bancorp Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NasdaqCM:IROQ Past Financials Data
Date (Data in USD Millions) EPS *
2019-12-31 1.19
2019-09-30 1.10
2019-06-30 1.02
2019-03-31 0.85
2018-12-31 0.89
2018-09-30 0.47
2018-06-30 0.48
2018-03-31 0.50
2017-12-31 0.46
2017-09-30 0.98
2017-06-30 1.06
2017-03-31 1.19

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Unable to establish if IF Bancorp will efficiently use shareholders’ funds in the future without estimates of Return on Equity.

Next steps:

  1. Examine IF Bancorp's financial health to determine how well-positioned it is against times of financial stress by looking at its level of debt over time and how much cash it has left.
  2. IF Bancorp's future outlook can be gauged by looking at industry trends and market size, and determining how well-positioned the company is compared to its competitors. Take a look at other high-growth Banks companies here
  3. IF Bancorp's competitive advantages and company strategy can generally be found in its financial reports archived here.
  4. Use fundamentals to screen for another stock to analyse from our database of over 75,000 companies worldwide
X
Future performance checks
We assess IF Bancorp's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United States of America market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United States of America market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
IF Bancorp has a total score of 0/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

IROQ Past Performance

  How has IF Bancorp performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare IF Bancorp's growth in the last year to its industry (Mortgage).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • IF Bancorp's year on year earnings growth rate was negative over the past 5 years, however the most recent earnings are above average.
  • IF Bancorp's 1-year earnings growth exceeds its 5-year average (21.5% vs -3.4%)
  • IF Bancorp's earnings growth has exceeded the US Mortgage industry average in the past year (21.5% vs 10.9%).
Earnings and Revenue History
IF Bancorp's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from IF Bancorp Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NasdaqCM:IROQ Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-12-31 22.03 3.90 14.74
2019-09-30 21.83 3.72 14.69
2019-06-30 21.63 3.56 14.44
2019-03-31 21.14 3.02 13.93
2018-12-31 21.07 3.21 13.77
2018-09-30 21.15 1.70 13.69
2018-06-30 20.82 1.74 13.38
2018-03-31 20.40 1.84 13.52
2017-12-31 20.30 1.69 13.46
2017-09-30 20.35 3.59 13.11
2017-06-30 20.73 3.92 12.96
2017-03-31 21.32 4.39 12.66
2016-12-31 21.30 4.49 12.35
2016-09-30 20.61 4.07 12.17
2016-06-30 19.79 3.57 12.21
2016-03-31 19.26 3.29 12.20
2015-12-31 18.99 3.23 12.13
2015-09-30 18.74 3.30 11.85
2015-06-30 18.53 3.27 11.68
2015-03-31 18.55 3.49 11.44
2014-12-31 18.39 3.43 11.37
2014-09-30 18.48 3.51 11.34
2014-06-30 18.38 3.48 11.30
2014-03-31 18.44 3.42 11.35
2013-12-31 18.41 3.51 11.21
2013-09-30 17.95 3.32 11.12
2013-06-30 18.41 3.71 10.87

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • IF Bancorp has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • IF Bancorp used its assets less efficiently than the US Mortgage industry average last year based on Return on Assets.
  • Unable to establish if IF Bancorp improved its use of capital last year versus 3 years ago (Return on Capital Employed) due to insufficient past data.
X
Past performance checks
We assess IF Bancorp's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Mortgage industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
IF Bancorp has a total score of 2/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

IROQ Health

 How is IF Bancorp's financial position? (This company is analysed differently as a bank or financial institution)

This company is a bank or financial institution.

Fundamentally a bank's business is based upon borrowing and lending money, for this reason they typically have high levels of debt and we analyse them differently.
Net Worth
Balance sheet
This treemap shows a more detailed breakdown of IF Bancorp's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from IF Bancorp Company Filings, last reported 3 months ago.

NasdaqCM:IROQ Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-12-31 77.73 41.84 13.84
2019-09-30 77.29 35.10 12.38
2019-06-30 82.46 26.02 62.60
2019-03-31 80.11 56.24 9.06
2018-12-31 78.52 84.34 9.52
2018-09-30 81.08 76.88 8.88
2018-06-30 81.68 69.78 6.50
2018-03-31 81.61 51.73 11.73
2017-12-31 83.48 59.96 8.44
2017-09-30 84.74 67.85 7.20
2017-06-30 83.97 55.68 9.52
2017-03-31 83.20 64.94 17.04
2016-12-31 82.48 65.18 5.79
2016-09-30 83.79 74.99 11.85
2016-06-30 83.97 71.39 6.70
2016-03-31 82.27 74.95 12.68
2015-12-31 80.57 67.17 5.88
2015-09-30 81.14 62.78 13.54
2015-06-30 80.44 62.02 13.47
2015-03-31 85.22 45.40 12.74
2014-12-31 83.72 55.79 11.19
2014-09-30 82.20 46.68 11.88
2014-06-30 82.09 59.07 12.98
2014-03-31 80.87 87.24 12.71
2013-12-31 78.93 95.59 7.27
2013-09-30 82.16 71.94 10.92
2013-06-30 81.75 89.17 6.83
BANK ANALYSIS

This company is a bank or financial institution, which is analysed accordingly below.

Below we check the amount of loans the bank has, how many of those are bad, and its ability to cover any bad loans.
  • IF Bancorp has an acceptable proportion of non-loan assets held.
  • IF Bancorp's liabilities are made up of primarily low risk sources of funding.
  • Loans at IF Bancorp are broadly funded by customer deposits.
  • IF Bancorp's level of assets compared to its equity is low (i.e. an appropriate level of borrowing to fund lending).
  • IF Bancorp has a sufficient allowance for bad loans.
  • IF Bancorp has an acceptable level of bad loans (less than 2%).
X
Financial health checks
We assess IF Bancorp's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. IF Bancorp has a total score of 6/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

IROQ Dividends

 What is IF Bancorp's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
1.92%
Current annual income from IF Bancorp dividends.
If you bought $2,000 of IF Bancorp shares you are expected to receive $38 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • IF Bancorp's pays a lower dividend yield than the bottom 25% of dividend payers in United States of America (2.07%).
  • IF Bancorp's dividend is below the markets top 25% of dividend payers in United States of America (5.82%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
NasdaqCM:IROQ Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below
United States of America Mortgage Industry Average Dividend Yield Market Cap Weighted Average of 88 Stocks 5.1%
United States of America Market Average Dividend Yield Market Cap Weighted Average of 1933 Stocks 3.1%
United States of America Minimum Threshold Dividend Yield 10th Percentile 1.1%
United States of America Bottom 25% Dividend Yield 25th Percentile 2.1%
United States of America Top 25% Dividend Yield 75th Percentile 5.8%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

NasdaqCM:IROQ Past Annualized Dividends Data
Date (Data in $) Dividend per share (annual) Avg. Yield (%)
2020-02-13 0.300 1.620
2020-02-10 0.300 0.000
2020-01-30 0.300 1.310
2019-08-14 0.300 1.358
2019-02-14 0.250 1.210
2019-02-12 0.250 1.220
2019-01-30 0.250 1.221
2018-08-15 0.250 1.132
2018-02-14 0.200 0.929
2018-02-09 0.200 1.005
2018-02-01 0.200 0.996
2017-08-10 0.200 1.017
2017-02-15 0.160 0.804
2017-02-09 0.160 0.801
2017-01-30 0.160 0.809
2016-09-14 0.160 0.847
2016-09-01 0.160 0.854
2016-02-10 0.160 0.865
2016-02-04 0.100 0.576
2015-09-09 0.100 0.568
2015-08-28 0.100 0.593
2015-02-12 0.100 0.600
2015-01-28 0.100 0.598
2014-09-10 0.100 0.596
2014-08-26 0.100 0.593
2014-02-13 0.100 0.606
2014-02-10 0.100 0.599
2013-09-11 0.100 0.607

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Whilst dividend payments have been stable, IF Bancorp has been paying a dividend for less than 10 years.
  • Dividend payments have increased, but IF Bancorp only paid a dividend in the past 7 years.
Current Payout to shareholders
What portion of IF Bancorp's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (4.3x coverage).
Future Payout to shareholders
  • Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.
X
Income/ dividend checks
We assess IF Bancorp's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1.1%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can IF Bancorp afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. IF Bancorp has a total score of 1/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

IROQ Management

 What is the CEO of IF Bancorp's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Chip Hasselbring
COMPENSATION $548,418
AGE 63
TENURE AS CEO 4.5 years
CEO Bio

Mr. Walter H. Hasselbring III, also known as Chip, has been Chief Executive Officer and President at IF Bancorp, Inc. and Iroquois Federal since October 1, 2015. Mr. Hasselbring served as the Chief Operating Officer and Senior Executive Vice President at IF Bancorp, Inc. and Iroquois Federal until September 30, 2015. He joined Iroquois Federal in 1978 where he is responsible for the daily operations of the bank, including ongoing risk management and development of new business opportunities. He also works directly with the Osage office, Iroquois Insurance and oversees the marketing function. He has served with Iroquois Federal as Vice President of Loans, Danville Branch Manager and Marketing Officer among other responsibilities. Mr. Hasselbring is directly involved in the communities served by Iroquois Federal, with service in key leadership rolls for many organizations. In Danville, he has served as the Chairman of Cross Point Human Services, President of Schlarman H.S. Board, member of the Board of Commissioners of Danville Housing Authority, Vice President of Danville Economic Development Corporation, President of Danville Youth Baseball, YMCA and Boy Scouts. In Watseka he has served as a director of ARC of Iroquois County, director and Treasurer of Iroquois Economic Development Association and as a member of the Iroquois Memorial Hospital Business and Development Committee. He serves as a Director on the Illinois League of Financial Institutions. He has been Director of IF Bancorp, Inc., since November 24, 2015. Mr. Hasselbring holds a B.S. degree in Business Administration with emphasis in both Management and Marketing and a minor in Economics from Olivet University, supported by educational development courses, training seminars and key industry associations.

CEO Compensation
  • Chip's compensation has been consistent with company performance over the past year, both up more than 20%.
  • Chip's remuneration is about average for companies of similar size in United States of America.
Management Team Tenure

Average tenure and age of the IF Bancorp management team in years:

6.9
Average Tenure
61
Average Age
  • The average tenure for the IF Bancorp management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team

Chip Hasselbring

TITLE
President
COMPENSATION
$548K
AGE
63
TENURE
4.5 yrs

Pamela Verkler

TITLE
Senior Executive VP
COMPENSATION
$386K
AGE
59
TENURE
9.3 yrs

Thomas Chamberlain

TITLE
Executive Vice President
COMPENSATION
$328K
AGE
54
TENURE
9.8 yrs

Linda Hamilton

TITLE
Executive VP & COO
AGE
63
TENURE
4.5 yrs

Beth Warren

TITLE
Corporate Secretary
Board of Directors Tenure

Average tenure and age of the IF Bancorp board of directors in years:

9.3
Average Tenure
65
Average Age
  • The tenure for the IF Bancorp board of directors is about average.
Board of Directors

Gary Martin

TITLE
Independent Chairman of the Board
COMPENSATION
$88K
AGE
70
TENURE
9.3 yrs

Chip Hasselbring

TITLE
President
COMPENSATION
$548K
AGE
63
TENURE
4.4 yrs

Joseph Cowan

TITLE
Independent Director
COMPENSATION
$42K
AGE
59
TENURE
9.3 yrs

Dennis Wittenborn

TITLE
Independent Director
COMPENSATION
$51K
AGE
65
TENURE
9.3 yrs

Alan Martin

TITLE
Independent Director
COMPENSATION
$42K
AGE
68
TENURE
9.3 yrs

Wayne Lehmann

TITLE
Independent Director
COMPENSATION
$42K
AGE
65
TENURE
9.3 yrs

Rodney Yergler

TITLE
Independent Director
COMPENSATION
$42K
AGE
61
TENURE
9.3 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month open market individual insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price ($) Value ($)
07. Nov 19 Buy Thomas Chamberlain Individual 05. Nov 19 06. Nov 19 200 $21.50 $4,300
24. Sep 19 Sell Stilwell Value LLC Company 23. Sep 19 24. Sep 19 -198,425 $22.53 $-4,470,515
X
Management checks
We assess IF Bancorp's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. IF Bancorp has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

IROQ News

Simply Wall St News

How Much is IF Bancorp, Inc.'s (NASDAQ:IROQ) CEO Getting Paid?

This report will, first, examine the CEO compensation levels in comparison to CEO compensation at companies of similar size. … See our latest analysis for IF Bancorp How Does Chip Hasselbring's Compensation Compare With Similar Sized Companies? … Remuneration for Chip Hasselbring is close enough to the median pay for a CEO of a similar sized company.

Simply Wall St -

What Type Of Shareholder Owns IF Bancorp, Inc.'s (NASDAQ:IROQ)?

As Nassim Nicholas Taleb said, 'Don’t tell me what you think, tell me what you have in your portfolio.' With a market capitalization of US$72m, IF Bancorp is a small cap stock, so it might not be well known by many institutional investors. … View our latest analysis for IF Bancorp NasdaqCM:IROQ Ownership Summary, June 20th 2019 What Does The Institutional Ownership Tell Us About IF Bancorp? … It is not uncommon to see a big share price drop if two large institutional investors try to sell out of a stock at the same time.

Simply Wall St -

Update: IF Bancorp (NASDAQ:IROQ) Stock Gained 21% In The Last Five Years

(NASDAQ:IROQ) has fallen short of that second goal, with a share price rise of 21% over five years, which is below the market return. … One way to examine how market sentiment has changed over time is to look at the interaction between a company's share price and its earnings per share (EPS). … As well as measuring the share price return, investors should also consider the total shareholder return (TSR).

Simply Wall St -

Don't Sell IF Bancorp, Inc. (NASDAQ:IROQ) Before You Read This

The goal of this article is to teach you how to use price to earnings ratios (P/E ratios). … IF Bancorp has a price to earnings ratio of 22.36, based on the last twelve months. … Price to Earnings Ratio = Share Price ÷ Earnings per Share (EPS)

Simply Wall St -

Is IF Bancorp, Inc.'s (NASDAQ:IROQ) CEO Salary Justified?

First, this article will compare CEO compensation with compensation at similar sized companies. … How Does Chip Hasselbring's Compensation Compare With Similar Sized Companies. … We examined a group of similar sized companies, with market capitalizations of below US$200m

Simply Wall St -

What Type Of Shareholder Owns IF Bancorp, Inc.'s (NASDAQ:IROQ)?

Institutions often own shares in more established companies, while it's not unusual to see insiders own a fair bit of smaller companies. … So it's nice to see some insider ownership, because it may suggest that management is owner-oriented. … We can zoom in on the different ownership groups, to learn more about IROQ

Simply Wall St -

IF Bancorp Shareholders Have Enjoyed A 27% Share Price Gain

(NASDAQ:IROQ) share price is up 27% in the last five years, that's less than the market return. … One imperfect but simple way to consider how the market perception of a company has shifted is to compare the change in the earnings per share (EPS) with the share price movement. … During five years of share price growth, IF Bancorp achieved compound earnings per share (EPS) growth of 0.7% per year.

Simply Wall St -

Does IF Bancorp Inc's (NASDAQ:IROQ) CEO Salary Compare Well With Others?

First, this article will compare CEO compensation with compensation at similar sized companies. … How Does Chip Hasselbring's Compensation Compare With Similar Sized Companies. … According to our data, IF Bancorp Inc has a market capitalization of US$78m, and pays its CEO total annual compensation worth US$424k

Simply Wall St -

Know This Before Buying IF Bancorp Inc (NASDAQ:IROQ) For Its Dividend

A large part of investment returns can be generated by dividend-paying stock given their role in compounding returns over time. … Historically, IF Bancorp Inc (NASDAQ:IROQ) has paid dividends to shareholders, and these days it yields 1.1%. … View our latest analysis for IF Bancorp

Simply Wall St -

Where IF Bancorp Inc's (NASDAQ:IROQ) Earnings Growth Stands Against Its Industry

Increase in profitability and industry-beating performance can be essential considerations in a stock for some investors. … In this article, I will take a look at IF Bancorp Inc's (NASDAQ:IROQ) track record on a high level, to give you some insight into how the company has been performing against its historical trend and its industry peers. … How Did IROQ's Recent Performance Stack Up Against Its Past.

Simply Wall St -

IROQ Company Info

Description

IF Bancorp, Inc. operates as the savings and loan holding company for Iroquois Federal Savings and Loan Association that provides a range of banking and financial services to individual and corporate clients. The company offers various deposit accounts, including savings accounts, certificates of deposit, money market accounts, commercial and personal checking accounts, individual retirement accounts, and health savings accounts. It also provides loans comprising one- to four-family residential mortgage loans; multi-family mortgage loans; commercial real estate loans, such as farm loans; home equity lines of credit; commercial business loans; and consumer loans primarily consisting of automobile loans, as well as construction loans and land development loans. In addition, the company sells property and casualty insurance, as well as offers annuities; mutual funds; individual and group retirement plans; life, disability, and health insurance; individual securities; managed accounts; and other financial services. Further, it invests in securities; and provides ATM, online banking and bill pay, mobile banking, ACH origination, remote deposit capture, and telephone banking services. As of September 13, 2019, it operated a network of seven full-service banking offices located in Watseka, Danville, Clifton, Hoopeston, Savoy, Champaign, and Bourbonnais, Illinois; and a loan production and wealth management office in Osage Beach, Missouri. IF Bancorp, Inc. was founded in 1883 and is headquartered in Watseka, Illinois.

Details
Name: IF Bancorp, Inc.
IROQ
Exchange: NasdaqCM
Founded: 1883
$50,850,191
3,260,171
Website: http://www.iroquoisfed.com
Address: IF Bancorp, Inc.
201 East Cherry Street,
Watseka,
Illinois, 60970,
United States
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NasdaqCM IROQ Common Stock Nasdaq Capital Market US USD 08. Jul 2011
Number of employees
Current staff
Staff numbers
103
IF Bancorp employees.
Industry
Thrifts and Mortgage Finance
Banks
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2020/04/07 02:53
End of day share price update: 2020/04/06 00:00
Last earnings filing: 2020/02/07
Last earnings reported: 2019/12/31
Last annual earnings reported: 2019/06/30


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.