IF Bancorp, Inc. Announces Unaudited Earnings Results for Second Quarter and Six Months Ended December 31, 2014
January 28, 2015 at 09:15 pm
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IF Bancorp, Inc. announced unaudited earnings results for second quarter and six months ended December 31, 2014. For the quarter, the company reported interest income of $4,713,000, net interest income of $3,892,000, income before taxes of $1,283,000, net income of $823,000 or $0.21 per basic and diluted share compared to the interest income of $4,767,000, net interest income of $3,979,000, income before taxes of $1,398,000, net income of $897,000 or $0.22 per basic and diluted share for the same quarter a year ago.
For the six months period, the company reported interest income of $9,393,000, net interest income of $7,750,000, income before taxes of $2,483,000, net income of $1,594,000 or $0.4 per basic and diluted share compared to the interest income of $9,313,000, net interest income of $7,753,000, income before taxes of $2,491,000, net income of $1,639,000 or $0.39 per basic and diluted share for the same period a year ago. Return on average assets as at December 31, 2014 was 0.58% compared to the 0.62% as on June 30, 2014. Return on average equity as at December 31, 2014 was 3.84% compared to the 4.26% as on June 30, 2014. Book value per share as on December 31, 2014 was $19.29 against $18.75 as on June 30, 2014.
IF Bancorp, Inc. operates as a holding company for Iroquois Federal Savings and Loan Association (Iroquois Federal). The Company is primarily engaged in the business of directing, planning, and coordinating the business activities of Iroquois Federal. Iroquois Federal operates as a federally chartered savings association. Its business consists primarily of taking deposits from the general public and investing those deposits, together with funds generated from operations and borrowings, in a range of loans. The Company offers a range of deposit accounts, including savings accounts, certificates of deposit, money market accounts, and commercial and personal checking accounts, among others. It also offers alternative delivery channels, including automated teller machines (ATMs), online banking and bill pay, and mobile banking with mobile deposit and bill pay. It conducts its operations in seven full-service banking offices, and a loan production and wealth management office in Missouri.