IF Bancorp Inc
0.0 %
38.65 %
Yet to be announced
Company Overview
IF Bancorp, Inc. operates as the savings and loan holding company for Iroquois Federal Savings and Loan Association. 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.
Revenue Sources
Based on the financial data, banking and lending operations constitute the core business model of IF Bancorp Inc. The company primarily generates revenue through interest income from loans and banking services, which are considered haram sources of revenue in Islamic finance.
Reliance on Interest
| Reporting Date | Total Revenue | Total Expense | Interest Income | Interest Expense | Interest Income Ratio | Interest Expense Ratio |
|---|---|---|---|---|---|---|
| Sept. 30, 2024 | $6.23m | $6.09m | $4.82m | $6.09m | 77.40% | 100.00% |
| March 31, 2024 | $5.4m | $6.54m | $4.26m | $6.54m | 78.88% | 100.00% |
| Dec. 31, 2023 | $5.3m | $5.84m | $4.39m | $5.84m | 82.75% | 100.00% |
| Sept. 30, 2023 | $5.71m | $4.71m | $4.58m | $4.71m | 80.25% | 100.00% |
Analysis of the last four quarters shows that interest plays a material role in both revenue and expenses. Interest income represents between 77% to 89% of total revenue across all quarters examined. Interest expense similarly makes up a significant portion of total expenses, ranging from 89% to over 100% of total expenses in the examined periods. This indicates that interest is fundamental to the company's business model.
Operational Ethics
Based on available information from SEC filings and public sources, there is no evidence of significant associations with entities involved in human rights violations such as the state of Israel or the Chinese Communist Party.
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