ServBanc Holdco, Inc. Completes Strategic Acquisition of IF Bancorp, Inc.

On March 12, 2026, ServBanc Holdco, Inc. finalized its acquisition of IF Bancorp, Inc., marking a significant milestone in its expansion strategy within the Illinois banking landscape. This merger enhances the offerings and geographical reach of Servbank, the national banking body under ServBanc. With this move, the company hopes to strengthen its commitment to providing exemplary financial services to local communities.

Leadership and Vision

Under the strategic guidance of Stavros Papastavrou, the Chairman of the Board, ServBanc aims for sustainable growth and operational excellence. Papastavrou’s extensive experience in the financial services sector solidifies his ability to navigate this transition effectively. He expressed excitement about the collaboration with the Iroquois team, recognizing their strong community ties and customer-centric approach, which aligns seamlessly with ServBanc’s values.

Papastavrou stated, "This acquisition represents a strategic step forward as Servbank continues to grow its presence. We are excited to collaborate with the Iroquois team, whose deep community roots and customer-focused approach align closely with our own. Together, we will build on that foundation to support our communities and strengthen the organization for the future."

Commitment to Community

Donald Satiroff, CEO of Servbank, echoed this sentiment, emphasizing the importance of community connections. He articulated, "At its core, this acquisition is about people—our customers, our employees, and the communities that rely on us. By coming together, we are strengthening our ability to serve while preserving the relationship-driven, community-focused approach that has always defined Iroquois Federal."

This merger is seen not only as a business strategy but as a commitment to enhance the banking experience for customers while reinforcing community relationships. Satiroff further highlighted the company's intention to integrate the existing infrastructure of Iroquois Federal with Servbank’s advanced subservicing platform.

Future Plans and Integration

The long-term strategic plan involves leveraging Servbank’s technology and personnel to deliver enhanced service offerings and operational efficiencies. Walter “Chip” Hasselbring III, previously the CEO and Chairman of Iroquois Federal, has been appointed as a director on the Servbank board to facilitate this transition.

Post-acquisition, Iroquois Federal's branch offices will operate under the name, "Iroquois Federal Savings and Loan Association, a division of Servbank, N.A.,” during the customer and data conversion process scheduled for completion by the end of 2026.

In addition to expanding its operational scope, ServBanc has also engaged top-tier advisors for this acquisition, including Performance Trust Capital Partners, LLC, and Hunton Andrews Kurth LLP, ensuring expert guidance through this process.

About ServBanc Holdco, Inc.

ServBanc functions as the parent company of Servbank, which focuses on offering robust banking solutions backed by innovative technology and stringent regulatory compliance. The aim is to deliver an extensive range of financial services, including deposits and lending, with a strong emphasis on stability and long-term value creation.

With total assets amounting to $995 million and deposits totaling $600 million as of December 31, 2025, ServBanc continues to exemplify a disciplined approach to risk management while paving the way for strategic growth initiatives.

As stated in their press release, the leaders expressed a clear vision for the future of banking in Illinois—a commitment to leveraging community banking while ensuring customers receive the service they have come to expect from both Servbank and Iroquois Federal.

This acquisition not only broadens ServBanc’s operational horizon but also places the company in a stronger position to meet the financial needs of the local population it serves, anticipating that such collaborative efforts will yield positive community impact for years to come.