M&A · Financials · Savings Institution, Federally Chartered
ServBanc Holdco, Inc. to acquire IF Bancorp, Inc.
Announced Oct 30, 2025 · Closed Mar 13, 2026
Deal value$91M
Premium—To unaffected price
EV / Adj. EBITDA—
ConsiderationAll cash$27.20 per share
Transaction
- Acquirer
- ServBanc Holdco, Inc.
- Target
- IF Bancorp, Inc. (IROQ)
- Buyer type
- Private equity
- Offer price per share
- $27.20
- Enterprise value
- —
- Status
- Closed Mar 13, 2026
Deal protections
- Break fee (target pays)
- $2.7M · 3.0%
- Reverse fee (buyer pays)
- —
- Go-shop
- No-shop
- Financing
- —
Advisors
- To the acquirer
- Performance Trust
- To the target
- Stifel
Sector context · Financials
- Comparable deals
- 59 in the prior 24 months
- Premium
- Sector median 38.5%
- EV / Adj. EBITDA
- Sector median 12.5x
- Break fee
- 3.0% vs. 3.7% sector median
Timeline
- AnnouncedOct 30, 2025
- Proxy filedDec 8, 2025
- Definitive proxyDec 30, 2025
- Shareholder voteFeb 3, 2026
- ClosedMar 13, 2026