2017 Q2 Form 10-K Financial Statement

#000119312518271623 Filed on September 12, 2018

View on sec.gov

Income Statement

Concept 2017 Q2 2017 2016 Q2
Revenue $21.34M
YoY Change 4.74%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin
YoY Change
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $10.00K $324.0K $110.0K
YoY Change -90.91% -24.3% 10.0%
% of Gross Profit
Operating Expenses
YoY Change
Operating Profit
YoY Change
Interest Expense $3.617M
YoY Change 9.18%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income $930.0K $6.193M $1.690M
YoY Change -44.97% 10.99% 33.07%
Income Tax $330.0K $2.274M $620.0K
% Of Pretax Income 35.48% 36.72% 36.69%
Net Earnings $600.0K $3.919M $1.070M
YoY Change -43.93% 9.9% 35.44%
Net Earnings / Revenue 18.37%
Basic Earnings Per Share $1.06
Diluted Earnings Per Share $162.2K $1.06 $286.9K
COMMON SHARES
Basic Shares Outstanding 3.940M shares 3.683M shares 4.014M shares
Diluted Shares Outstanding 3.712M shares

Balance Sheet

Concept 2017 Q2 2017 2016 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments
YoY Change
Cash & Equivalents $7.766M $6.449M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets
YoY Change
LONG-TERM ASSETS
Property, Plant & Equipment $5.840M $5.800M $4.586M
YoY Change 27.34% 26.09% -4.46%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $3.700M $3.700M $1.700M
YoY Change 117.65% 117.65% -22.73%
Total Long-Term Assets
YoY Change
TOTAL ASSETS
Total Short-Term Assets
Total Long-Term Assets
Total Assets $585.5M $585.5M $595.6M
YoY Change -1.69% -1.7% 5.66%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $800.0K $800.0K $1.000M
YoY Change -20.0% -20.0% 0.0%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $2.200M $2.200M $4.400M
YoY Change -50.0% -50.0% 10.0%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $800.0K $800.0K $1.000M
YoY Change -20.0% -20.0% 0.0%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $5.900M $5.900M $5.500M
YoY Change 7.27% 7.27% 19.57%
Total Long-Term Liabilities $5.900M $5.900M $5.500M
YoY Change 7.27% 7.27% 19.57%
TOTAL LIABILITIES
Total Short-Term Liabilities $800.0K $800.0K $1.000M
Total Long-Term Liabilities $5.900M $5.900M $5.500M
Total Liabilities $501.5M $501.5M $511.6M
YoY Change -1.97% -1.97% 5.87%
SHAREHOLDERS EQUITY
Retained Earnings $39.05M $37.10M
YoY Change 5.27% 4.59%
Common Stock $47.98M $47.58M
YoY Change 0.85% 1.12%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $83.97M $84.00M $83.97M
YoY Change
Total Liabilities & Shareholders Equity $585.5M $585.5M $595.6M
YoY Change -1.69% -1.7% 5.66%

Cashflow Statement

Concept 2017 Q2 2017 2016 Q2
OPERATING ACTIVITIES
Net Income $600.0K $3.919M $1.070M
YoY Change -43.93% 9.9% 35.44%
Depreciation, Depletion And Amortization $10.00K $324.0K $110.0K
YoY Change -90.91% -24.3% 10.0%
Cash From Operating Activities $1.090M $6.144M $960.0K
YoY Change 13.54% 15.27% -31.43%
INVESTING ACTIVITIES
Capital Expenditures -$970.0K $1.682M -$40.00K
YoY Change 2325.0% 685.98% -20.0%
Acquisitions
YoY Change
Other Investing Activities -$2.610M $9.270M -$16.25M
YoY Change -83.94% -124.71% 11.76%
Cash From Investing Activities -$3.570M $7.586M -$16.30M
YoY Change -78.1% -120.11% 11.8%
FINANCING ACTIVITIES
Cash Dividend Paid $589.0K
YoY Change 21.69%
Common Stock Issuance & Retirement, Net $1.375M
YoY Change -3.58%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -6.530M -12.41M 9.360M
YoY Change -169.76% -148.45% -32.71%
NET CHANGE
Cash From Operating Activities 1.090M 6.144M 960.0K
Cash From Investing Activities -3.570M 7.586M -16.30M
Cash From Financing Activities -6.530M -12.41M 9.360M
Net Change In Cash -9.010M 1.317M -5.980M
YoY Change 50.67% -119.45% -919.18%
FREE CASH FLOW
Cash From Operating Activities $1.090M $6.144M $960.0K
Capital Expenditures -$970.0K $1.682M -$40.00K
Free Cash Flow $2.060M $4.462M $1.000M
YoY Change 106.0% -12.78% -31.03%

Facts In Submission

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CashAndDueFromBanks
4240000
CY2018Q2 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.01
CY2018Q2 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
3871408 shares
CY2018Q2 us-gaap Common Stock Value
CommonStockValue
39000
CY2018Q2 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
4610000
CY2018Q2 us-gaap Deferred Tax Assets Net
DeferredTaxAssetsNet
4003000
CY2018Q2 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Provision For Loan Losses
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsProvisionForLoanLosses
1695000
CY2018Q2 us-gaap Deferred Tax Assets Unrealized Losses On Availablefor Sale Securities Gross
DeferredTaxAssetsUnrealizedLossesOnAvailableforSaleSecuritiesGross
1462000
CY2018Q2 us-gaap Deferred Compensation Arrangement With Individual Recorded Liability
DeferredCompensationArrangementWithIndividualRecordedLiability
1300000
CY2018Q2 us-gaap Deferred Tax Assets Liabilities Net
DeferredTaxAssetsLiabilitiesNet
4003000
CY2018Q2 us-gaap Deferred Tax Liabilities Financing Arrangements
DeferredTaxLiabilitiesFinancingArrangements
160000
CY2018Q2 us-gaap Defined Benefit Plan Accumulated Other Comprehensive Income Net Gains Losses Before Tax
DefinedBenefitPlanAccumulatedOtherComprehensiveIncomeNetGainsLossesBeforeTax
-440000
CY2018Q2 us-gaap Defined Benefit Plan Assumptions Used Calculating Benefit Obligation Discount Rate
DefinedBenefitPlanAssumptionsUsedCalculatingBenefitObligationDiscountRate
0.0395 pure
CY2018Q2 us-gaap Defined Benefit Plan Expected Future Benefit Payments Next Twelve Months
DefinedBenefitPlanExpectedFutureBenefitPaymentsNextTwelveMonths
141000
CY2018Q2 us-gaap Defined Benefit Plan Expected Future Benefit Payments Year Five
DefinedBenefitPlanExpectedFutureBenefitPaymentsYearFive
191000
CY2018Q2 us-gaap Deposits
Deposits
480421000
CY2018Q2 us-gaap Deferred Tax Liabilities Other
DeferredTaxLiabilitiesOther
2000
CY2018Q2 us-gaap Defined Benefit Plan Expected Amortization Of Gain Loss Next Fiscal Year
DefinedBenefitPlanExpectedAmortizationOfGainLossNextFiscalYear
16000
CY2018Q2 us-gaap Defined Benefit Plan Expected Amortization Of Prior Service Cost Credit Next Fiscal Year
DefinedBenefitPlanExpectedAmortizationOfPriorServiceCostCreditNextFiscalYear
0
CY2018Q2 us-gaap Defined Benefit Plan Expected Future Benefit Payments Five Fiscal Years Thereafter
DefinedBenefitPlanExpectedFutureBenefitPaymentsFiveFiscalYearsThereafter
963000
CY2018Q2 us-gaap Defined Benefit Plan Expected Future Benefit Payments Year Three
DefinedBenefitPlanExpectedFutureBenefitPaymentsYearThree
168000
CY2018Q2 us-gaap Defined Benefit Plan Fair Value Of Plan Assets
DefinedBenefitPlanFairValueOfPlanAssets
0
CY2018Q2 us-gaap Demand Deposit Accounts
DemandDepositAccounts
21350000
CY2018Q2 us-gaap Deferred Tax Assets Other
DeferredTaxAssetsOther
62000
CY2018Q2 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefits
378000
CY2018Q2 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Accrued Liabilities
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsAccruedLiabilities
602000
CY2018Q2 us-gaap Deferred Tax Liabilities Mortgage Servicing Rights
DeferredTaxLiabilitiesMortgageServicingRights
247000
CY2018Q2 us-gaap Deferred Tax Liabilities Property Plant And Equipment
DeferredTaxLiabilitiesPropertyPlantAndEquipment
198000
CY2018Q2 us-gaap Defined Benefit Plan Accumulated Other Comprehensive Income Before Tax
DefinedBenefitPlanAccumulatedOtherComprehensiveIncomeBeforeTax
440000
CY2018Q2 us-gaap Defined Benefit Plan Expected Amortization Of Transition Asset Obligation Next Fiscal Year
DefinedBenefitPlanExpectedAmortizationOfTransitionAssetObligationNextFiscalYear
0
CY2018Q2 us-gaap Defined Benefit Plan Expected Future Benefit Payments Year Four
DefinedBenefitPlanExpectedFutureBenefitPaymentsYearFour
181000
CY2018Q2 us-gaap Defined Benefit Plan Expected Future Benefit Payments Year Two
DefinedBenefitPlanExpectedFutureBenefitPaymentsYearTwo
157000
CY2018Q2 us-gaap Defined Benefit Plan Expected Future Employer Contributions Next Fiscal Year
DefinedBenefitPlanExpectedFutureEmployerContributionsNextFiscalYear
141000
CY2018Q2 us-gaap Deferred Tax Liabilities
DeferredTaxLiabilities
607000
CY2018Q2 us-gaap Defined Benefit Plan Accumulated Benefit Obligation
DefinedBenefitPlanAccumulatedBenefitObligation
2770000
CY2018Q2 us-gaap Defined Benefit Plan Benefit Obligation
DefinedBenefitPlanBenefitObligation
2770000
CY2018Q2 us-gaap Defined Benefit Plan Funded Status Of Plan
DefinedBenefitPlanFundedStatusOfPlan
-2770000
CY2018Q2 us-gaap Defined Benefit Plan Ultimate Health Care Cost Trend Rate1
DefinedBenefitPlanUltimateHealthCareCostTrendRate1
0.09 pure
CY2018Q2 us-gaap Employee Stock Ownership Plan Esop Number Of Allocated Shares
EmployeeStockOwnershipPlanESOPNumberOfAllocatedShares
96133 shares
CY2018Q2 us-gaap Escrow Deposit
EscrowDeposit
408000
CY2018Q2 us-gaap Employee Stock Ownership Plan Esop Deferred Shares Fair Value
EmployeeStockOwnershipPlanESOPDeferredSharesFairValue
5979000
CY2018Q2 us-gaap Employee Stock Ownership Plan Esop Number Of Committed To Be Released Shares
EmployeeStockOwnershipPlanESOPNumberOfCommittedToBeReleasedShares
19245 shares
CY2018Q2 us-gaap Employee Stock Ownership Plan Esop Number Of Suspense Shares
EmployeeStockOwnershipPlanESOPNumberOfSuspenseShares
250185 shares
CY2018Q2 us-gaap Employee Stock Ownership Plan Esop Shares In Esop
EmployeeStockOwnershipPlanESOPSharesInESOP
365563 shares
CY2018Q2 us-gaap Federal Home Loan Bank Advances Maturities Summary Due From Four To Five Years Of Balance Sheet Date
FederalHomeLoanBankAdvancesMaturitiesSummaryDueFromFourToFiveYearsOfBalanceSheetDate
10000000
CY2018Q2 us-gaap Federal Home Loan Bank Advances Maturities Summary Due Within One Year Of Balance Sheet Date
FederalHomeLoanBankAdvancesMaturitiesSummaryDueWithinOneYearOfBalanceSheetDate
52500000
CY2018Q2 us-gaap Financing Receivable Allowance For Credit Losses Collectively Evaluated For Impairment
FinancingReceivableAllowanceForCreditLossesCollectivelyEvaluatedForImpairment
5942000
CY2018Q2 us-gaap Financing Receivable Recorded Investment90 Days Past Due And Still Accruing
FinancingReceivableRecordedInvestment90DaysPastDueAndStillAccruing
294000
CY2018Q2 us-gaap Federal Home Loan Bank Stock
FederalHomeLoanBankStock
3285000
CY2018Q2 us-gaap Financing Receivable Allowance For Credit Losses Individually Evaluated For Impairment1
FinancingReceivableAllowanceForCreditLossesIndividuallyEvaluatedForImpairment1
3000
CY2018Q2 us-gaap Financing Receivable Collectively Evaluated For Impairment
FinancingReceivableCollectivelyEvaluatedForImpairment
472922000
CY2018Q2 us-gaap Financing Receivable Individually Evaluated For Impairment
FinancingReceivableIndividuallyEvaluatedForImpairment
9342000
CY2018Q2 us-gaap Financing Receivable Modifications Recorded Investment
FinancingReceivableModificationsRecordedInvestment
2877000
CY2018Q2 us-gaap Financing Receivable Recorded Investment Current
FinancingReceivableRecordedInvestmentCurrent
473329000
CY2018Q2 us-gaap Federal Home Loan Bank Advances Maturities Summary Due From Three To Four Years Of Balance Sheet Date
FederalHomeLoanBankAdvancesMaturitiesSummaryDueFromThreeToFourYearsOfBalanceSheetDate
5000000
CY2018Q2 us-gaap Federal Home Loan Bank Advances Maturities Summary Due From Two To Three Years Of Balance Sheet Date
FederalHomeLoanBankAdvancesMaturitiesSummaryDueFromTwoToThreeYearsOfBalanceSheetDate
0
CY2018Q2 us-gaap Financing Receivable Recorded Investment Nonaccrual Status
FinancingReceivableRecordedInvestmentNonaccrualStatus
6535000
CY2018Q2 us-gaap Federal Home Loan Bank Advances Maturities Summary Due After Five Years Of Balance Sheet Date
FederalHomeLoanBankAdvancesMaturitiesSummaryDueAfterFiveYearsOfBalanceSheetDate
0
CY2018Q2 us-gaap Federal Home Loan Bank Advances Maturities Summary Due From One To Two Years Of Balance Sheet Date
FederalHomeLoanBankAdvancesMaturitiesSummaryDueFromOneToTwoYearsOfBalanceSheetDate
0
CY2018Q2 us-gaap Financing Receivable Recorded Investment Past Due
FinancingReceivableRecordedInvestmentPastDue
8935000
CY2018Q2 us-gaap Furniture And Fixtures Gross
FurnitureAndFixturesGross
4035000
CY2018Q2 us-gaap Impaired Financing Receivable Unpaid Principal Balance
ImpairedFinancingReceivableUnpaidPrincipalBalance
9342000
CY2018Q2 us-gaap Impaired Financing Receivable Recorded Investment
ImpairedFinancingReceivableRecordedInvestment
9342000
CY2018Q2 us-gaap Impaired Financing Receivable Related Allowance
ImpairedFinancingReceivableRelatedAllowance
3000
CY2018Q2 us-gaap Interest Bearing Domestic Deposit Certificates Of Deposits
InterestBearingDomesticDepositCertificatesOfDeposits
229236000
CY2018Q2 us-gaap Interest Payable Current And Noncurrent
InterestPayableCurrentAndNoncurrent
188000
CY2018Q2 us-gaap Interest Bearing Deposits In Banks
InterestBearingDepositsInBanks
514000
CY2018Q2 us-gaap Interest Receivable
InterestReceivable
1821000
CY2018Q2 us-gaap Land
Land
1976000
CY2018Q2 us-gaap Liabilities
Liabilities
557248000
CY2018Q2 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
638923000
CY2018Q2 us-gaap Line Of Credit
LineOfCredit
0
CY2018Q2 us-gaap Loans And Leases Receivable Deferred Income
LoansAndLeasesReceivableDeferredIncome
-161000
CY2018Q2 us-gaap Loans And Leases Receivable Net Reported Amount
LoansAndLeasesReceivableNetReportedAmount
476480000
CY2018Q2 us-gaap Loans Receivable Commercial Financial And Agricultural
LoansReceivableCommercialFinancialAndAgricultural
68720000
CY2018Q2 us-gaap Loans And Leases Receivable Consumer Installment Durable Goods
LoansAndLeasesReceivableConsumerInstallmentDurableGoods
7366000
CY2018Q2 us-gaap Loans And Leases Receivable Consumer Real Estate
LoansAndLeasesReceivableConsumerRealEstate
6300000
CY2018Q2 us-gaap Loans And Leases Receivable Gross Carrying Amount
LoansAndLeasesReceivableGrossCarryingAmount
482264000
CY2018Q2 us-gaap Loans Receivable Commercial Real Estate
LoansReceivableCommercialRealEstate
140944000
CY2018Q2 us-gaap Loans And Leases Receivable Allowance
LoansAndLeasesReceivableAllowance
5945000
CY2018Q2 us-gaap Loans And Leases Receivable Consumer Home Equity
LoansAndLeasesReceivableConsumerHomeEquity
9058000
CY2018Q2 us-gaap Other Assets
OtherAssets
720000
CY2018Q2 us-gaap Other Postretirement Defined Benefit Plan Liabilities Current And Noncurrent
OtherPostretirementDefinedBenefitPlanLiabilitiesCurrentAndNoncurrent
2770000
CY2018Q2 us-gaap Other Liabilities
OtherLiabilities
3779000
CY2018Q2 us-gaap Pledged Assets Separately Reported Securities Pledged As Collateral At Fair Value
PledgedAssetsSeparatelyReportedSecuritiesPledgedAsCollateralAtFairValue
64625000
CY2018Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
10226000
CY2018Q2 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
16943000
CY2018Q2 us-gaap Real Estate Acquired Through Foreclosure
RealEstateAcquiredThroughForeclosure
219000
CY2018Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
38885000
CY2018Q2 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
627000
CY2018Q2 us-gaap Secured Debt Repurchase Agreements
SecuredDebtRepurchaseAgreements
2281000
CY2018Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
1113000
CY2018Q2 us-gaap Servicing Asset At Fair Value Amount
ServicingAssetAtFairValueAmount
866000
CY2018Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
86285 shares
CY2018Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
16.63
CY2018Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
153143 shares
CY2018Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
16.63
CY2018Q2 us-gaap Stockholders Equity
StockholdersEquity
81675000
CY2018Q2 us-gaap Time Deposit Maturities Year Two
TimeDepositMaturitiesYearTwo
52327000
CY2018Q2 us-gaap Time Deposit Maturities Year One
TimeDepositMaturitiesYearOne
157103000
CY2018Q2 us-gaap Time Deposits
TimeDeposits
263580000
CY2018Q2 us-gaap Time Deposit Maturities Year Four
TimeDepositMaturitiesYearFour
8711000
CY2018Q2 us-gaap Time Deposit Maturities Year Three
TimeDepositMaturitiesYearThree
40411000
CY2018Q2 us-gaap Time Deposits100000 Or More
TimeDeposits100000OrMore
218149000
CY2018Q2 us-gaap Unearned Esop Shares
UnearnedESOPShares
2502000
CY2018Q2 iroq Retained Earnings Excluding Deferred Federal Income Tax Liability
RetainedEarningsExcludingDeferredFederalIncomeTaxLiability
2217000
CY2018Q2 iroq Loans Receivable Gross One To Four Family Including Home Equity Loans
LoansReceivableGrossOneToFourFamilyIncludingHomeEquityLoans
134977000
CY2018Q2 iroq Interest Bearing Time Deposits In Banks
InterestBearingTimeDepositsInBanks
1750000
CY2018Q2 iroq Deferred Tax Assets Accrued Vacation
DeferredTaxAssetsAccruedVacation
40000
CY2018Q2 iroq Maximum Amount Of Unsecured Loans Residential Mortgage Loans Can Be Approved By Loan Committee
MaximumAmountOfUnsecuredLoansResidentialMortgageLoansCanBeApprovedByLoanCommittee
300000
CY2018Q2 iroq Deposits Savings Negotiable Order Of Withdrawal Now And Money Market Deposits
DepositsSavingsNegotiableOrderOfWithdrawalNowAndMoneyMarketDeposits
195491000
CY2018Q2 iroq Real Estate Construction Loans
RealEstateConstructionLoans
13763000
CY2018Q2 iroq Maximum Amount Of Other Secured Loans Residential Mortgage Loans Can Be Approved By Managing Officer
MaximumAmountOfOtherSecuredLoansResidentialMortgageLoansCanBeApprovedByManagingOfficer
300000
CY2018Q2 iroq Maximum Amount Of One To Four Family Residential Mortgage Loans Can Be Approved By Loan Officer
MaximumAmountOfOneToFourFamilyResidentialMortgageLoansCanBeApprovedByLoanOfficer
100000
CY2018Q2 iroq Maximum Amount Of One To Four Family Residential Mortgage Loans Can Be Approved By Managing Officer
MaximumAmountOfOneToFourFamilyResidentialMortgageLoansCanBeApprovedByManagingOfficer
300000
CY2018Q2 iroq Deferred Tax Assets Tax Deferred Loan Fees
DeferredTaxAssetsTaxDeferredLoanFees
114000
CY2018Q2 iroq Maximum Amount Of Unsecured Loans Residential Mortgage Loans Can Be Approved By Managing Officer
MaximumAmountOfUnsecuredLoansResidentialMortgageLoansCanBeApprovedByManagingOfficer
100000
CY2018Q2 iroq Maximum Amount Of Unsecured Loans Residential Mortgage Loans Can Be Approved By Loan Officer
MaximumAmountOfUnsecuredLoansResidentialMortgageLoansCanBeApprovedByLoanOfficer
10000
CY2018Q2 iroq Maximum Amount Of Other Secured Loans Residential Mortgage Loans Can Be Approved By Loan Officer
MaximumAmountOfOtherSecuredLoansResidentialMortgageLoansCanBeApprovedByLoanOfficer
50000
CY2018Q2 iroq Amount Deferred Income Tax Liabilities Expected To Reverse Into Taxable Income
AmountDeferredIncomeTaxLiabilitiesExpectedToReverseIntoTaxableIncome
754000
CY2018Q2 iroq Maximum Aggregate Loan Amount Of One To Four Family Residential Mortgage Loans Commercial Real Estate Loans Multi Family Real Estate Loans And Land Loans Can Be Approved By Loan Committee
MaximumAggregateLoanAmountOfOneToFourFamilyResidentialMortgageLoansCommercialRealEstateLoansMultiFamilyRealEstateLoansAndLandLoansCanBeApprovedByLoanCommittee
1000000
CY2018Q2 iroq Deferred Tax Assets Tax Postretirement Health Plan
DeferredTaxAssetsTaxPostretirementHealthPlan
174000
CY2018Q2 iroq Time Deposit Maturities Year Five And Thereafter
TimeDepositMaturitiesYearFiveAndThereafter
5028000
CY2018Q2 iroq Mortgage Loans Secured For Federal Home Loan Banks Advances
MortgageLoansSecuredForFederalHomeLoanBanksAdvances
296649000
CY2018Q2 iroq Loans Receivable Gross Multi Family
LoansReceivableGrossMultiFamily
107436000
CY2018Q2 iroq Commitments Outstanding Amount
CommitmentsOutstandingAmount
9246000
CY2018Q2 iroq Brokered Certificates Of Deposit
BrokeredCertificatesOfDeposit
34344000
CY2018Q2 iroq Commitments To Originate Loans
CommitmentsToOriginateLoans
0
CY2018Q2 iroq Temporarily Impaired Debt Securities Percentage Of Investment Securities Portfolio
TemporarilyImpairedDebtSecuritiesPercentageOfInvestmentSecuritiesPortfolio
0.95 pure
CY2018Q2 iroq Weighted Average Interest Rates For Fixed Rate Loan Commitments
WeightedAverageInterestRatesForFixedRateLoanCommitments
0.0529 pure
CY2018Q2 iroq Debt Securities Greater Than Stated Percentage Of Equity Securities
DebtSecuritiesGreaterThanStatedPercentageOfEquitySecurities
0.10 pure
CY2018Q2 iroq Deferred Tax Assets Tax Deferred Expense Mortgage Partnership Finance Recourse Liability
DeferredTaxAssetsTaxDeferredExpenseMortgagePartnershipFinanceRecourseLiability
53000
CY2018Q2 iroq Deferred Tax Assets Tax Deferred Revenue Mastercard
DeferredTaxAssetsTaxDeferredRevenueMastercard
30000
us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21 pure
CY2017 us-gaap Advertising Expense
AdvertisingExpense
342000
CY2017 us-gaap Accretion Amortization Of Discounts And Premiums Investments
AccretionAmortizationOfDiscountsAndPremiumsInvestments
-236000
CY2017 us-gaap Allowance For Loan And Lease Losses Period Increase Decrease
AllowanceForLoanAndLeaseLossesPeriodIncreaseDecrease
-1721000
CY2017 us-gaap Available For Sale Securities Gross Realized Gains
AvailableForSaleSecuritiesGrossRealizedGains
956000
CY2017 us-gaap Available For Sale Securities Gross Realized Losses
AvailableForSaleSecuritiesGrossRealizedLosses
52000
CY2017 us-gaap Available For Sale Securities Gross Realized Gain Loss Net
AvailableForSaleSecuritiesGrossRealizedGainLossNet
904000
CY2017 us-gaap Bank Owned Life Insurance Income
BankOwnedLifeInsuranceIncome
268000
CY2017 us-gaap Brokerage Commissions Revenue
BrokerageCommissionsRevenue
583000
CY2017 us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
1317000
CY2017 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.16
CY2017 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
1363000
CY2017 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
2606000
CY2017 us-gaap Defined Benefit Plan Amortization Of Gains Losses
DefinedBenefitPlanAmortizationOfGainsLosses
-44000
CY2017 us-gaap Defined Benefit Plan Contributions By Employer
DefinedBenefitPlanContributionsByEmployer
114000
CY2017 us-gaap Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
64000
CY2017 us-gaap Defined Benefit Plan Actuarial Gain Loss
DefinedBenefitPlanActuarialGainLoss
119000
CY2017 us-gaap Defined Benefit Plan Service Cost
DefinedBenefitPlanServiceCost
47000
CY2017 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
-332000
CY2017 us-gaap Defined Benefit Plan Amortization Of Transition Asset Obligation
DefinedBenefitPlanAmortizationOfTransitionAssetObligation
0
CY2017 us-gaap Defined Benefit Plan Interest Cost
DefinedBenefitPlanInterestCost
93000
CY2017 us-gaap Depreciation
Depreciation
324000
CY2017 us-gaap Defined Benefit Plan Amortization Of Prior Service Cost Credit
DefinedBenefitPlanAmortizationOfPriorServiceCostCredit
-48000
CY2017 us-gaap Defined Benefit Plan Benefit Obligation Benefits Paid
DefinedBenefitPlanBenefitObligationBenefitsPaid
114000
CY2017 us-gaap Defined Benefit Plan Net Periodic Benefit Cost
DefinedBenefitPlanNetPeriodicBenefitCost
136000
CY2017 us-gaap Dividends Common Stock Stock
DividendsCommonStockStock
589000
CY2017 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.367 pure
CY2017 us-gaap Employee Stock Ownership Plan Esop Compensation Expense
EmployeeStockOwnershipPlanESOPCompensationExpense
372000
CY2017 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.06
CY2017 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.340 pure
CY2017 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.06
CY2017 us-gaap Equipment Expense
EquipmentExpense
1170000
CY2017 us-gaap Federal Deposit Insurance Corporation Premium Expense
FederalDepositInsuranceCorporationPremiumExpense
174000
CY2017 us-gaap Financing Receivable Allowance For Credit Losses Recovery
FinancingReceivableAllowanceForCreditLossesRecovery
38000
CY2017 us-gaap Financing Receivable Allowance For Credit Losses Write Offs
FinancingReceivableAllowanceForCreditLossesWriteOffs
275000
CY2017 us-gaap Financing Receivable Modifications Pre Modification Recorded Investment2
FinancingReceivableModificationsPreModificationRecordedInvestment2
943000
CY2017 us-gaap Fees And Commissions Other
FeesAndCommissionsOther
256000
CY2017 us-gaap Fees And Commissions Depositor Accounts
FeesAndCommissionsDepositorAccounts
511000
CY2017 us-gaap Fees And Commissions Mortgage Banking And Servicing
FeesAndCommissionsMortgageBankingAndServicing
487000
CY2017 us-gaap Financing Receivable Modifications Number Of Contracts2
FinancingReceivableModificationsNumberOfContracts2
6 Modification
CY2017 us-gaap Gain Loss On Sales Of Loans Net
GainLossOnSalesOfLoansNet
295000
CY2017 us-gaap Gain Loss On Sale Of Loans And Leases
GainLossOnSaleOfLoansAndLeases
295000
CY2017 us-gaap Gains Losses On Sales Of Other Real Estate
GainsLossesOnSalesOfOtherRealEstate
14000
CY2017 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
6193000
CY2017 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
2554000
CY2017 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
2106000
CY2017 us-gaap Increase Decrease In Postretirement Obligations
IncreaseDecreaseInPostretirementObligations
23000
CY2017 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
244000
CY2017 us-gaap Income Tax Reconciliation Tax Exempt Income
IncomeTaxReconciliationTaxExemptIncome
25000
CY2017 us-gaap Increase Decrease In Accrued Interest Receivable Net
IncreaseDecreaseInAccruedInterestReceivableNet
-264000
CY2017 us-gaap Increase Decrease In Advance Payments By Borrowers For Taxes And Insurance
IncreaseDecreaseInAdvancePaymentsByBorrowersForTaxesAndInsurance
-178000
CY2017 us-gaap Impaired Financing Receivable Average Recorded Investment
ImpairedFinancingReceivableAverageRecordedInvestment
7782000
CY2017 us-gaap Impaired Financing Receivable Interest Income Cash Basis Method
ImpairedFinancingReceivableInterestIncomeCashBasisMethod
329000
CY2017 us-gaap Income Tax Reconciliation Other Adjustments
IncomeTaxReconciliationOtherAdjustments
40000
CY2017 us-gaap Increase Decrease In Interest Payable Net
IncreaseDecreaseInInterestPayableNet
-4000
CY2017 us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
-579000
CY2017 us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
458000
CY2017 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
29561 shares
CY2017 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
2274000
CY2017 us-gaap Increase Decrease In Time Deposits
IncreaseDecreaseInTimeDeposits
-10191000
CY2017 us-gaap Interest Expense
InterestExpense
3617000
CY2017 us-gaap Interest Income Securities Taxable
InterestIncomeSecuritiesTaxable
2604000
CY2017 us-gaap Interest Income Securities Tax Exempt
InterestIncomeSecuritiesTaxExempt
143000
CY2017 us-gaap Insurance Commissions And Fees
InsuranceCommissionsAndFees
672000
CY2017 us-gaap Interest And Dividend Income Operating
InterestAndDividendIncomeOperating
21338000
CY2017 us-gaap Interest Expense Deposits
InterestExpenseDeposits
2891000
CY2017 us-gaap Interest Expense Time Deposits
InterestExpenseTimeDeposits
2069000
CY2017 us-gaap Interest Income Expense After Provision For Loan Loss
InterestIncomeExpenseAfterProvisionForLoanLoss
16000000
CY2017 us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
17721000
CY2017 us-gaap Interest Income Deposits With Financial Institutions
InterestIncomeDepositsWithFinancialInstitutions
44000
CY2017 us-gaap Interest And Fee Income Loans And Leases
InterestAndFeeIncomeLoansAndLeases
18443000
CY2017 us-gaap Interest Expense Now Accounts Money Market Accounts And Savings Deposits
InterestExpenseNOWAccountsMoneyMarketAccountsAndSavingsDeposits
284000
CY2017 us-gaap Interest Paid Net
InterestPaidNet
3621000
CY2017 us-gaap Labor And Related Expense
LaborAndRelatedExpense
9470000
CY2017 us-gaap Loans And Leases Receivable Commitments Fixed Rates
LoansAndLeasesReceivableCommitmentsFixedRates
18601000
CY2017 us-gaap Net Cash Provided By Used In Investing Activities
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7586000
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IF Bancorp, Inc.
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2018-06-30
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0001514743
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<div> <p style="margin-top:18pt; margin-bottom:0pt; margin-left:2%; font-size:10pt; font-family:Times New Roman"> <b><i>Reclassifications</i></b></p> <p style="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman"> Certain reclassifications have been made to the 2017 financial statements to conform to the 2018 financial statement presentation. These reclassifications had no effect on net income.</p> </div>
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CY2018 us-gaap Use Of Estimates
UseOfEstimates
<div> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 2%; MARGIN-TOP: 0pt"> <b><i>Use of Estimates</i></b></p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 4%; MARGIN-TOP: 6pt"> The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.</p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 4%; MARGIN-TOP: 6pt"> Material estimates that are particularly susceptible to significant change relate to the determination of the allowance for loan losses and the valuation of real estate acquired in connection with foreclosures or in satisfaction of loans, fair value measurements and classifications of investment securities, loan servicing rights and income taxes.</p> </div>
CY2018 us-gaap Weighted Average Number Of Shares Employee Stock Ownership Plan Shares Not Committed To Be Released
WeightedAverageNumberOfSharesEmployeeStockOwnershipPlanSharesNotCommittedToBeReleased
259808 shares
CY2018 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
3658868 shares
CY2018 iroq Federal Home Loan Bank Dividends
FederalHomeLoanBankDividends
96000
CY2018 iroq Supervisory Examinations
SupervisoryExaminations
165000
CY2018 iroq Telephone And Postage
TelephoneAndPostage
265000
CY2018 iroq Securities Sold Under Repurchase Agreements Maximum Balance
SecuritiesSoldUnderRepurchaseAgreementsMaximumBalance
2980000
CY2018 iroq Esop Shares Earned
EsopSharesEarned
388000
CY2018 iroq Income Tax Reconciliation Cash Surrender Value Life Insurance
IncomeTaxReconciliationCashSurrenderValueLifeInsurance
104000
CY2018 iroq Impaired Financing Receivable Interest Income Loss Accrual Method
ImpairedFinancingReceivableInterestIncomeLossAccrualMethod
142000
CY2018 iroq Interest Expense Deposit Type Brokered Certificates Of Deposit
InterestExpenseDepositTypeBrokeredCertificatesOfDeposit
556000
CY2018 iroq Audit And Accounting Services
AuditAndAccountingServices
141000
CY2018 iroq Unpaid Principal Balances Of Mortgage Loans Serviced For Others
UnpaidPrincipalBalancesOfMortgageLoansServicedForOthers
95825000
CY2018 iroq Benefit Costs
BenefitCosts
150000
CY2018 iroq Securities Sold Under Repurchase Agreements Average Balance
SecuritiesSoldUnderRepurchaseAgreementsAverageBalance
2623000
CY2018 iroq Organizational Dues And Subscriptions
OrganizationalDuesAndSubscriptions
55000
CY2018 iroq Interest Expense Federal Home Loan Bank And Federal Reserve Bank Advances
InterestExpenseFederalHomeLoanBankAndFederalReserveBankAdvances
839000
CY2018 iroq Insurance Bond Premiums
InsuranceBondPremiums
148000
CY2018 iroq Net Increase Decrease In Demand Deposits Money Market Now And Savings Accounts
NetIncreaseDecreaseInDemandDepositsMoneyMarketNowAndSavingsAccounts
25488000
CY2018 iroq Esop Shares Earned Shares
ESOPSharesEarnedShares
19245 shares
CY2018 iroq Stock Repurchase Program Authorization Date
StockRepurchaseProgramAuthorizationDate
2016-02-05
CY2018 iroq Number Of Full Service Banking Offices
NumberOfFullServiceBankingOffices
6 Banking_Office
CY2018 iroq Defined Benefit Plan Retirement Age
DefinedBenefitPlanRetirementAge
P72Y
CY2018 iroq Interest Bearing Deposits Maturity Period
InterestBearingDepositsMaturityPeriod
P5Y
CY2018 iroq Cash And Cash Equivalents Maximum Original Maturity Period
CashAndCashEquivalentsMaximumOriginalMaturityPeriod
P3M
CY2018 iroq Stock Repurchased During Period Average Cost Per Share
StockRepurchasedDuringPeriodAverageCostPerShare
20.00
CY2018 iroq Income Tax Examination Minimum Likelihood Of Tax Benefits Being Realized Upon Settlement
IncomeTaxExaminationMinimumLikelihoodOfTaxBenefitsBeingRealizedUponSettlement
0.50 pure
CY2018 iroq Tier One Capital Conservation Buffer To Risk Weighted Assets Required Under Regulatory
TierOneCapitalConservationBufferToRiskWeightedAssetsRequiredUnderRegulatory
0.025 pure
CY2018 iroq Tier One Risk Based Capital To Risk Weighted Assets Conservation Buffer
TierOneRiskBasedCapitalToRiskWeightedAssetsConservationBuffer
0.00625 pure
CY2018 iroq Tax Cuts And Jobs Act Of2017 Change In Tax Rate Income Tax Expense Benefit
TaxCutsAndJobsActOf2017ChangeInTaxRateIncomeTaxExpenseBenefit
1300000
CY2018 iroq Accrual Of Interest On Loans Due Discontinued Period
AccrualOfInterestOnLoansDueDiscontinuedPeriod
P90D

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