IF BANCORP, INC. (NASDAQ:IROQ) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain OfficersItem 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
Employment Agreements with Walter H. Hasselbring. On May 30, 2018, the Board of Directors of IF Bancorp, Inc. (the "Company") and the Board of Directors of Iroquois Federal Savings and Loan Association (the "Bank"), the wholly owned subsidiary of the Company, upon the recommendation of the Compensation Committees of the Company and Bank, each renewed their respective Employment Agreements ("Employment Agreements") with Walter H. Hasselbring, III, the Chief Executive Officer and President of the Bank and the Company. This renewal will become effective on July 7, 2018, with the term of the Employment Agreements thereafter continuing until July 7, 2021. There were no material changes to the terms and conditions of the Employment Agreements.
Renewal of Change in Control Agreements. On May 30, 2018, upon the recommendation of the Compensation Committee, the Board of Directors of the Bank also renewed for an additional year the executive change in control agreements ("Change in Control Agreements") for Pamela J. Verkler, Senior Executive Vice President and Chief Financial Officer, Linda L. Hamilton, Executive Vice President and Chief Operating Officer and Thomas J. Chamberlain, Executive Vice President, so that the term, as renewed, shall be July 7, 2018 through July 7, 2020. There were no material changes to the terms and conditions of the change in control agreements.
About IF BANCORP, INC. (NASDAQ:IROQ)
IF Bancorp, Inc. is the holding company for Iroquois Federal Savings and Loan Association (Iroquois Federal). The Company is primarily engaged in the business of directing, planning and coordinating the business activities of Iroquois Federal. Iroquois Federal is a federally chartered savings association. Its business consists primarily of taking deposits from the public and investing those deposits, together with funds generated from operations and borrowings, in a range of loans. It offers alternative delivery channels, including automated teller machines (ATMs), online banking and bill pay, mobile banking with mobile deposit and bill pay, automated clearing house (ACH) origination, remote deposit capture and telephone banking. It also offers annuities, mutual funds, individual and group retirement plans, life, disability and health insurance, individual securities, managed accounts and other financial services at all of its locations.
