ServBanc Holdco, Inc. entered a merger agreement on October 30, 2025, to acquire IF Bancorp, Inc. (IROQ) in a deal valued at $89.8 million.
IF Bancorp’s shareholders will receive $27.2 per share in cash for each share of IF Bancorp common stock, which represents a premium of 7.51% from the stock’s last close.
IF Bancorp is the holding company for Iroquois Federal Savings and Loan Association, a community bank based in Watseka, Illinois, that provides a full range of personal and business banking, lending, and financial services across central Illinois and Missouri. The company has total assets of approximately $800 million.
ServBanc is an Arizona-based bank holding company for Servbank, National Association, a full-service bank headquartered in Oswego, Illinois, that provides a range of banking and financial services.
The deal is expected to close in the first quarter of 2026.
Keefe Bruyette & Woods, a Stifel Company, provided financial advice to IF Bancorp, with Luse Gorman serving as legal counsel. Performance Trust Capital Partners provided financial advice to ServBanc, and Hunton Andrews Kurth served as its legal counsel.
ServBanc is paying roughly 1.02 times the tangible book value of IF Bancorp.
For further details about this merger and acquisition transaction, please visit the Deal Metrics page using the following link:
Deal Metrics for the acquisition of IF Bancorp, Inc. (IROQ) by ServBanc Holdco, Inc.
Features of the Deal Metrics page for each merger or acquisition include:
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Editor’s Note: Baranjot Kaur contributed to this article