Key Summary: Joseph Stilwell urged maximizing shareholder value in 2018, reduced stake in 2019, and hoped to work with management in 2023. In 2024, he proposed the company's sale and may seek board representation if not achieved.Market Cap: $56 million| 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.
On May 28, 2024, Joseph Stilwell (7.5%) announced the submission of a stockholder proposal to prompt the sale of the company. Further, he stated if the Proposal doesn't result in the prompt sale, the intention is to pursue board representation.
Past
On December 14, 2018, Joseph Stilwell (6.2%) urged management and the board to maximize shareholder value through repurchases of outstanding Common Stock with excess capital. He stated that he would aggressively seek board representation if the company pursued any action that diluted tangible book value per share. Source
On September 24, 2019, Joseph Stilwell reduced his stake to 0.6% stating, that the Board had acted in good faith to maximize shareholder value through share repurchases.
On September 18, 2023, Joseph Stilwell (6.6%) stated that he hopes to work with management and the board to maximize shareholder value. Source
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