<SEC-DOCUMENT>0000943374-25-000523.txt : 20251222
<SEC-HEADER>0000943374-25-000523.hdr.sgml : 20251222
<ACCEPTANCE-DATETIME>20251222100922
ACCESSION NUMBER:		0000943374-25-000523
CONFORMED SUBMISSION TYPE:	11-K
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20250630
FILED AS OF DATE:		20251222
DATE AS OF CHANGE:		20251222

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			IF Bancorp, Inc.
		CENTRAL INDEX KEY:			0001514743
		STANDARD INDUSTRIAL CLASSIFICATION:	SAVINGS INSTITUTION, FEDERALLY CHARTERED [6035]
		ORGANIZATION NAME:           	02 Finance
		EIN:				451834449
		FISCAL YEAR END:			0630

	FILING VALUES:
		FORM TYPE:		11-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-35226
		FILM NUMBER:		251590192

	BUSINESS ADDRESS:	
		STREET 1:		201 E. CHERRY ST
		CITY:			WATSEKA
		STATE:			IL
		ZIP:			60970
		BUSINESS PHONE:		(815) 432-2476

	MAIL ADDRESS:	
		STREET 1:		201 E. CHERRY ST
		CITY:			WATSEKA
		STATE:			IL
		ZIP:			60970
</SEC-HEADER>
<DOCUMENT>
<TYPE>11-K
<SEQUENCE>1
<FILENAME>form11k_063025.htm
<DESCRIPTION>IF BANCORP, INC. FORM 11-K JUNE 30, 2025
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    <div style="text-align: center; font-weight: bold;">UNITED STATES</div>
    <div style="text-align: center; font-weight: bold;">SECURITIES AND EXCHANGE COMMISSION</div>
    <div style="text-align: center; font-weight: bold;">WASHINGTON, D.C. 20549</div>
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    <div style="text-align: center; font-weight: bold;">FORM 11-K</div>
    <div><br>
    </div>
    <div style="text-align: center; font-weight: bold;">FOR ANNUAL REPORTS OF EMPLOYEE STOCK PURCHASE, SAVINGS</div>
    <div style="text-align: center; font-weight: bold;">AND SIMILAR PLANS PURSUANT TO SECTION 15(d) OF THE</div>
    <div style="text-align: center; font-weight: bold;">SECURITIES EXCHANGE ACT OF 1934</div>
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    </div>
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            <div>ANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934.</div>
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    <div style="text-align: justify;">For the fiscal year ended <u>June 30, 2025</u></div>
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    <div style="text-align: center; font-weight: bold;">OR</div>
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            <div>TRANSITION REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934.</div>
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    </div>
    <div>For the transition period from _______________ to _______________</div>
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    <div style="text-align: center; font-weight: bold;">Commission File Number <u>001-35226</u></div>
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    </div>
    <div style="text-indent: 36pt;">A.&#160; Full title of the plan and the address of the plan, if different from that of the issuer named below:</div>
    <div><br>
    </div>
    <div style="text-align: center;">Iroquois Federal Savings and Loan Association 401(k) Plan</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 36pt;">B:&#160; Name of issuer of the securities held pursuant to the plan and the address of its principal executive office:</div>
    <div><br>
    </div>
    <div style="text-align: center;">IF Bancorp, Inc.</div>
    <div style="text-align: center;">201 East Cherry Street</div>
    <div style="text-align: center;">Watseka, Illinois 60970</div>
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    <div style="text-align: center; font-weight: bold;">SUMMARY ANNUAL REPORT FOR</div>
    <div style="text-align: center; font-weight: bold;">IROQUOIS FEDERAL SAVINGS AND LOAN ASSOCIATION 401(K) PLAN</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 36pt; margin-right: 1.8pt;">This is a summary of the annual report Form 5500 Annual Return/Report of Small Employee Benefit Plan of Iroquois
      Federal Savings and Loan Association 40l(k) Plan and Employer Identification Number 37-0348365/Plan Number 002 for the plan year 07/01/2024 through 06/30/2025. The Form 5500-SF annual report has been filed with the Employee Benefits Security
      Administration, as required under the Employee Retirement Income Security Act of 1974 (ERISA).&#160; Your plan is a single employer, defined contribution plan with the following characteristics: employer contributions, profit sharing, ERISA section
      404(c), total participant-directed account, code section 401(k) feature, code section 401(m) arrangement, participant-directed brokerage account, total or partial participant-directed account, pre-approved pension.</div>
    <div><br>
    </div>
    <div style="text-align: center; font-weight: bold;">Basic Financial Statement</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 36pt; margin-right: 3.35pt;">Plan expenses were $2,257,376. These expenses included $36,848 in administrative expenses and $2,220,528 in
      benefits paid to participants and beneficiaries, and $0 in other expenses. A total of 112 persons were participants in or beneficiaries of the plan at the end of the plan year, although not all of these persons had yet earned the right to receive
      benefits.</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 36pt; margin-right: 5.75pt;">The value of plan assets, after subtracting liabilities of the plan, was $20,760,962 as of the end of the plan
      year, compared to $19,219,292 as of the beginning of the plan year. During the plan year the plan experienced a change in its net assets of $1,541,670. This change includes unrealized appreciation or depreciation in the value of plan assets; that is,
      the difference between the value of the plan&#8217;s assets at the end of the year and the value of the assets at the beginning of the year or the cost of assets acquired during the year. The plan had total income of $3,799,046, including employer
      contributions of $456,074, employee contributions of $595,171, other contributions/other income of $83,607 and earnings from investments of $2,664,194.</div>
    <div><br>
    </div>
    <div style="text-align: center; font-weight: bold;">Information Regarding Plan Assets</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 36pt; margin-right: 6.3pt;">The U.S. Department of Labor's regulations require that an independent qualified public accountant audit the plan's
      financial statements unless certain conditions are met for the audit requirement to be waived. This plan met the audit waiver conditions for the plan year beginning 07/01/2024 and therefore has not had an audit performed. Instead, the following
      information is provided to assist you in verifying that the assets reported on the Form 5500-SF were actually held by the plan.</div>
    <div><br>
    </div>
    <div style="text-indent: 36pt; margin-right: 13.55pt;">At the end of the plan year, the plan had qualifying plan assets at the following institution(s):</div>
    <div><br>
    </div>
    <div style="text-indent: 36pt; margin-right: 13.55pt;">Iroquois Federal Certificate of Deposit $2,539,497.59</div>
    <div><br>
    </div>
    <div style="text-indent: 36pt;">The plan receives year-end statements from these regulated financial institutions that confirm the above information.</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 36pt; margin-right: 5.2pt;">The remainder of the plan's assets were held in individual participant accounts with investments directed by
      participants and beneficiaries and with account statements from regulated financial institutions furnished to the participant or beneficiary at least annually and loans to participants and other qualifying assets.</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 36pt; margin-right: 6.3pt;">Plan participants and beneficiaries have a right, on request and free of charge, to get copies of the financial
      institution year-end statements. If you want to examine or get copies of the financial institution year-end statements, please contact IROQUOIS FEDERAL SAVINGS AND LOAN ASSOCIATION, the plan administrator, at P.O. BOX 190, WATSEKA, IL 60970-0190 and
      phone number, 815-432-2476.</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 36pt; margin-right: 8.55pt;">If you are unable to obtain or examine copies of the regulated financial institution statements, you may contact
      the regional office of the U.S. Department of Labor's Employee Benefits Security Administration (EBSA)</div>
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    <div style="text-align: justify; margin-right: 8.55pt;">for assistance by calling toll-free 866-444-EBSA (3272). A listing of EBSA regional offices can be found at http://www.dol.gov/agencies/ebsa.</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 36pt; margin-right: 3.85pt;">General information regarding the audit waiver conditions applicable to the plan can be found on the U.S.
      Department of Labor Web site at http://www.dol.gov/ebsa under the heading &#8220;Frequently Asked Questions.&#8221;</div>
    <div><br>
    </div>
    <div style="text-align: center; font-weight: bold;">Your Rights to Additional Information</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 36pt; margin-right: 9.1pt;">You have the right to receive a copy of the full annual report, or any part thereof, on request. To obtain a copy
      of the full annual report, or any part thereof, write or call IROQUOIS FEDERAL SAVINGS AND LOAN ASSOCIATION, the plan administrator, at P.O. BOX 190, WATSEKA, IL 60970-0190 and phone number, 815-432-2476.</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 36pt; margin-right: 11.2pt;">You also have the right to receive from the plan administrator, on request and at no charge, a statement of the
      assets and liabilities of the plan and accompanying notes, or a statement of income and expenses of the plan and accompanying notes, or both. If you request a copy of the full annual report from the plan administrator, these two statements and
      accompanying notes will be included as part of that report.</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 36pt; margin-right: 11.2pt;">You also have the legally protected right to examine the annual report at the main office of the plan: P.O. BOX
      190, WATSEKA, IL 60970-0190, and at the U.S. Department of Labor in Washington, D.C., or to obtain a copy from the U.S. Department of Labor upon payment of copying costs. Requests to the Department should be addressed to: Public Disclosure Room, Room
      N-1513, Employee Benefits Security Administration, U.S. Department of Labor, 200 Constitution Avenue, N.W., Washington, D.C. 20210. The annual report is also available online at the Department of Labor website www.efast.dol.gov.</div>
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    <div style="text-align: center; font-weight: bold;">SIGNATURES</div>
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    <div style="text-align: justify; text-indent: 36pt;"><font style="font-style: italic;">The Plan.&#160; </font>Pursuant to the
      requirements of the Securities Exchange Act of 1934, the trustees (or other persons who administer the employee benefit plan) have duly caused this annual report to be signed on its behalf by the undersigned hereunto duly authorized.</div>
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          <td style="width: 44.94%; vertical-align: top;">&#160;</td>
          <td style="width: 10.14%; vertical-align: top;">&#160;</td>
          <td style="width: 44.92%; vertical-align: top;">
            <div style="text-align: justify;">IROQUOIS FEDERAL SAVINGS AND LOAN ASSOCIATION 401(k) PLAN</div>
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          <td style="width: 44.94%; vertical-align: top;">&#160;</td>
          <td style="width: 10.14%; vertical-align: top;">&#160;</td>
          <td style="width: 44.92%; vertical-align: top;">&#160;</td>
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          <td style="width: 44.94%; vertical-align: top;">&#160;</td>
          <td style="width: 10.14%; vertical-align: top;">&#160;</td>
          <td style="width: 44.92%; vertical-align: top;">&#160;</td>
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          <td style="width: 44.94%; vertical-align: top;">&#160;</td>
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            <div style="text-align: justify;">Date:&#160; December 19, 2025</div>
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          <td style="width: 10.14%; vertical-align: top;">
            <div style="text-align: right; font-family: 'Times New Roman',Times,serif;">By:&#160;&#160; <br>
            </div>
          </td>
          <td style="width: 44.92%; vertical-align: top;"><u>&#160;/s/ Walter H. Hasselbring III </u><br>
          </td>
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          <td style="width: 44.94%; vertical-align: top;">&#160;</td>
          <td style="width: 10.14%; vertical-align: top;">&#160;</td>
          <td style="width: 44.92%; vertical-align: top;">
            <div style="text-align: justify;">Walter H. Hasselbring III</div>
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          <td style="width: 44.94%; vertical-align: top;">&#160;</td>
          <td style="width: 10.14%; vertical-align: top;">&#160;</td>
          <td style="width: 44.92%; vertical-align: top;">
            <div style="text-align: justify;">President and Chief Executive Officer</div>
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