Management continues to support shareholder returns with a $647,000 dividend payment in 2026Q2, despite significant liquidity management through $7.0 million in securities sales during the same period.
| Metric | TTM | Jun'25 | Jun'24 | Jun'23 | Jun'22 | Jun'21 | Jun'20 | Jun'19 | Jun'18 | Jun'17 | Jun'16 | Jun'15 | Jun'14 | Jun'13 | Jun'12 | Jun'11 | Jun'10 | Jun'09 |
|---|
| Cash from Operations | 6.01M | 6.76M | 2.28M | 2.77M | 8.67M | 6.87M | 6.9M | 5.8M | 4.84M | 6.14M | 5.33M | 5.33M | 6.5M | 6.07M | 6.14M | 5.13M | 1.96M | 3.46M |
| Operating CF Growth % | 10686.31% | 196.15% | -17.46% | -68.09% | 26.24% | -0.42% | 18.96% | 19.82% | -21.26% | 15.32% | -0.07% | -17.96% | 7.14% | -1.22% | 19.8% | 160.96% | -43.19% | - |
| Net Income | 5.17M | 4.3M | 1.79M | 4.66M | 5.78M | 5.35M | 4.25M | 3.56M | 1.74M | 3.92M | 3.57M | 3.27M | 3.48M | 3.71M | 1.4M | 2.83M | 2.68M | 2.41M |
| Depreciation & Amortization | 337K | 621K | 671K | 663K | 675K | 679K | 671K | 628K | 468K | 324K | 428K | 430K | 418K | 447K | 430K | 392K | 240.07K | 289.91K |
| Deferred Taxes | 51K | 114K | 120K | -156K | 218K | -162K | -15K | 76K | 1.32M | -332K | -230K | -135K | 167K | 78K | -1.4M | -233K | -725K | -11.57K |
| Other Non-Cash Items | -2.46M | -1.21M | -578K | -147K | 854K | 620K | -179K | 110K | 392K | 315K | 960K | 1.11M | 1.7M | 784K | 4.71M | 1.63M | 680.07K | -285.02K |
| Working Capital Changes | 2.51M | 2.33M | -283K | -2.92M | 537K | -189K | 1.56M | 780K | 303K | 1.32M | -67K | 135K | 308K | 775K | 783K | 511K | -908K | 1.06M |
| Cash from Investing | 64.38M | 14.06M | -39.75M | -57.12M | -68.8M | -36.04M | -34.3M | -27.14M | -60.67M | 7.59M | -37.72M | -13.34M | 1.37M | -45.24M | -50.88M | -74.21M | -10.36M | -28.52M |
| Purchase of Investments | -10.2M | -18.34M | -1.98M | -18.2M | -98.78M | -79.59M | -52.05M | -42.15M | -39.23M | -73.42M | -25M | -49M | -73.33M | -159.88M | -199.03M | -171.11M | -107.34M | -73.4M |
| Sale/Maturity of Investments | 19.42M | 27.08M | 14.34M | 31.3M | 39.43M | 48.05M | 41.33M | 27.41M | 20.49M | 79.49M | 76.8M | 62.44M | 91M | 172.94M | 170.43M | 105.19M | 109.68M | 54.36M |
| Net Investment Activity | 9.23M | 8.74M | 12.36M | 13.09M | -59.35M | -31.54M | -10.72M | -14.74M | -18.74M | 6.07M | 51.8M | 13.43M | 17.67M | 13.06M | -28.6M | -65.92M | 2.34M | -19.04M |
| Acquisitions | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Investing | 55.18M | 5.56M | -51.87M | -67.96M | -9.06M | -4.22M | -23.42M | -11.29M | -37.07M | 3.2M | -89.3M | -26.67M | -15.05M | -57.92M | -21.59M | -7.97M | -12.37M | -8.98M |
| Cash from Financing | -67.51M | -10.3M | 36.05M | -10.47M | 73.21M | 58.44M | 1.27M | 76.18M | 52.82M | -12.41M | 25.62M | 8.5M | -1.72M | 37.56M | -7.58M | 122.75M | 3.33M | 33.31M |
| Dividends Paid | -1.29M | -1.29M | -1.28M | -1.27M | -1.07M | -909K | -939K | -868K | -730K | -589K | -484K | -403K | -415K | 0 | 0 | 0 | 0 | 0 |
| Share Repurchases | 0 | 0 | 0 | 0 | 0 | 0 | -7.46M | -6.22M | -1.38M | -1.38M | -1.43M | -4.95M | -4.62M | -3.34M | 0 | 0 | 0 | 0 |
| Stock Issued | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 43.24M | -766K | 0 | 0 |
| Net Stock Activity | 0 | 0 | 0 | 0 | 0 | 0 | -7.46M | -6.22M | -1.38M | -1.38M | -1.43M | -4.95M | -4.62M | -3.34M | 43.24M | -766K | 0 | 0 |
| Debt Issuance (Net) | -1000K | -1000K | 1000K | 1000K | -1000K | -1000K | 1000K | -1000K | 1000K | -1000K | 1000K | 1000K | -1000K | 1000K | 1000K | 0 | -1000K | -1000K |
| Other Financing | -39.8M | -4.89M | -1.42M | -13.7M | 87.28M | 68.85M | -3.83M | 126.77M | 40.93M | 3.05M | 18.53M | 12.61M | 34.07M | 28.4M | -103.31M | 123.52M | 7.33M | 42.81M |
| Net Change in Cash | 2.88M | 10.52M | -1.42M | -64.82M | 13.08M | 29.27M | -26.13M | 54.85M | -3.01M | 1.32M | -6.78M | 493K | 6.15M | -1.61M | -52.31M | 53.67M | -5.07M | 8.24M |
| Exchange Rate Effect | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Cash at Beginning | 8.03M | 9.57M | 10.99M | 75.81M | 62.73M | 33.47M | 59.6M | 4.75M | 7.77M | 6.45M | 13.22M | 12.73M | 6.58M | 8.19M | 60.51M | 6.84M | 11.9M | 3.66M |
| Cash at End | 8.79M | 20.09M | 9.57M | 10.99M | 75.81M | 62.73M | 33.47M | 59.6M | 4.75M | 7.77M | 6.45M | 13.22M | 12.73M | 6.58M | 8.19M | 60.51M | 6.84M | 11.9M |
| Interest Paid | 15.82M | 23.75M | 21.91M | 8.59M | 2.55M | 4.52M | 8.96M | 8.24M | 5.16M | 3.62M | 3.32M | 3.26M | 3.1M | 3.1M | 3.9M | 5.01M | 6.87M | 8.8M |
| Income Taxes Paid | -103K | 967K | 347K | 2.1M | 1.96M | 2.74M | 1.15M | 365K | 2.09M | 2.55M | 2.18M | 1.76M | 1.9M | 2.17M | 2.17M | 1.68M | 1.75M | 1.22M |
| Free Cash Flow | 5.91M | 6.52M | 2.04M | 516K | 8.28M | 6.59M | 6.74M | 4.69M | -16K | 4.46M | 5.11M | 5.23M | 5.25M | 5.68M | 5.45M | 4.81M | 1.63M | 2.96M |
| FCF Growth % | 104.5% | 220.19% | 294.57% | -93.77% | 25.71% | -2.23% | 43.7% | 29406.25% | -100.36% | -12.75% | -2.14% | -0.46% | -7.62% | 4.24% | 13.25% | 195.54% | -44.89% | - |
Geographic concentration and NIM
According to the quarterly cash flow data, IROQ maintains a consistent dividend payout pattern, with $647,000 distributed in 2026Q2, suggesting that management prioritizes stable shareholder returns while retaining the majority of net income to bolster the bank's regulatory capital buffers against localized economic volatility.
The bank's ability to fund its dividend consistently while navigating fluctuating net income suggests a disciplined approach to capital management. Investors should monitor whether this retention strategy remains sufficient to support organic growth initiatives in the face of the bank's high fixed-cost operating structure.
As reported in the financial statements, IROQ frequently cycles through its investment securities, with a notable $7.0 million in sales during 2026Q2, indicating that the bank actively manages its liquidity position by liquidating assets to offset potential funding gaps or to rebalance its interest-earning portfolio.
The recurring pattern of purchasing and selling securities suggests that the investment portfolio serves as a primary liquidity buffer rather than a static yield-enhancement tool. This active management may imply that the bank is sensitive to interest rate fluctuations and is attempting to optimize its duration profile in a challenging NIM environment.
Based on the reported figures, the provision for credit losses has exhibited extreme volatility, highlighted by a $22.2 million charge in 2025Q4, which significantly obscures the bank's true cash-generating capacity and complicates the assessment of underlying credit quality for institutional observers.
The lack of correlation between net income and operating cash flow in periods of high provisioning suggests that these charges are largely non-cash accounting adjustments rather than immediate cash outflows. This volatility warrants further investigation into the bank's internal credit risk models and the potential for future reserve releases to artificially inflate reported earnings.
Analysis of the cash flow statements reveals that IROQ has maintained a steady dividend of approximately $640,000 per quarter, a policy that appears sustainable despite the significant quarterly variance in net income and the occasional negative operating cash flow observed in early 2026.
The commitment to a fixed dividend payout suggests management's confidence in the long-term stability of the bank's core earnings, even when accounting for the lumpiness of fee-based income and credit provisions. However, the reliance on securities sales to support liquidity may indicate that the dividend is being funded by balance sheet optimization rather than purely organic operational cash flow.
Quick answers to the most common questions about buying IROQ stock.
IF Bancorp, Inc. (IROQ) generated $6.8M in net cash from operating activities in 2025. This reflects the cash generated directly from core business operations.
IF Bancorp, Inc. (IROQ) generated $6.5M in free cash flow in 2025. Free cash flow is the cash left over after capital expenditures, which can be used to pay dividends, repurchase shares, or pay down debt.
IF Bancorp, Inc. (IROQ) spent $0.2M on capital expenditures in 2025. CapEx represents the cash invested in physical assets like property, plant, and equipment to maintain or grow the business.
In 2025, IF Bancorp, Inc. (IROQ) returned $1.3M to shareholders via cash dividends. This shows the company's commitment to returning capital to its equity investors.