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Stock impact report

ServBanc Holdco, Inc. and IF Bancorp, Inc. Announce Agreement to Merge [Yahoo! Finance]

IF Bancorp, Inc. (IROQ) 
US:NASDAQ Investor Relations: snl.com/irw/corporateprofile/1032002
Company Research Source: Yahoo! Finance
Servbank, National Association ("Servbank") and IF Bancorp, Inc. (NASDAQ: IROQ) ("IF Bancorp"), the holding company for Iroquois Federal Savings and Loan Association ("Iroquois Federal"), today jointly announced that they have entered into a definitive agreement whereby ServBanc Holdco and Servbank will acquire IF Bancorp and Iroquois Federal, respectively. Servbank is a banking institution with Illinois roots and a national reach. With this transaction, Servbank is strategically expanding its franchise into central Illinois. IF Bancorp's shareholders will receive approximately $89.8 million, or $27.20 per share, in cash for each share of IF Bancorp common stock, subject to certain potential adjustments described in the definitive agreement. The transaction has been unanimously approved by the boards of directors of both ServBanc Holdco and IF Bancorp and is subject to regulatory approval, IF Bancorp shareholder approval and other conditions set forth in the definitive agreement. Th Show less Read more
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